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Section 80H8 Section 143(3)4 Section 271(1)(c)2

M/S SESA RESOURS LTD (FORMERLY V. S. DEMPO & CO. PVT. LTD,PANAJI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), PANAJI

In the result, the appeal filed by the assessee is allowed

ITA 396/PAN/2018[2004-05]Status: DisposedITAT Panaji01 Sept 2022AY 2004-05

Bench: Shri C.M. Garg & Shri Girish Agrawalassessment Year: 2004-05 Sesa Resources Limied Vs. Acit, (Formerly V.S. Dempo & Co., Pvt. Circle-1(1), Aayakar Ltd.), Bhavan, Sesa Ghor, 20 Edc Complex, Edc Complex, Patto, Patto, Panaji, Panaji, Goa – 403 001. Goa. Pan: Aaacv7160R

For Appellant: Shri Rajiv Khandelwal, CAFor Respondent: Shri Ranjan Kumar, CIT, DR

Section 143(3)Section 271Section 271(1)Section 271(1)(c)Section 274Section 47Section 80H

271(1)(c) by the Assessing Authority.” 6. On consideration of the above submissions of the assessee, the AO accepted the contentions of the assessee in so far as the disallowance of long- term capital loss is concerned. As regards the claim of the assessee u/s 80HHC in respect of receipts from sale of premises, the AO imposed a penalty