COMMISSIONER OF INCOME TAX vs. M/S.NEELACHAL ISPAT NIGAM LTD.
In the result, this Income Tax Appeal is allowed, setting
ITA/11/2018HC Orissa16 Mar 2022
Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE R.K.PATTANAIK
Section 143(3)
52,76,459/- was adjusted against the taxable income
of Rs.35,85,037/- for the assessment year 2011-12, whereby
the taxable income came to be nil. The assessment authority
disallowed the set off of loss and assessed the same as tax for
the assessment year 2011-12. Thereafter, the assessment was
completed under Section 143(3) of the Income