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
47(iv) of the I.T. Act; and b)
The assessee claimed deduction u/s 80HHC of Rs. 8,86,67,072/- against which the deduction allowed as per order u/s 143(3) was Rs.
7,56,27,324/-.The difference in deduction allowed u/s 80HHC was on account of exclusion of Interest income of Rs.1,66,46,940/- from profits
2
