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
43,05,846/- ii)
Hire charges from transshipper
Rs. 2,87,21,342/- iii)
Barge Hire Charges
Rs. 59,26,301/- iv)
Other Services
Rs. 72,54,918/- v)
Miscellaneous Income
Rs. 59,67,922/-
4. Penalty proceedings u/s 271(1)(c) was initiated on the above in the course of assessment proceedings u/s 143(3) and accordingly notice u/s
