Comnr.,Of Income Tax v. Falcon Real Estate

IN THE HIGH COURT OF ORISSA AT CUTTACK

ITA No.5 of 2012 Commissioner of Income Tax, Bhubaneswar ....

Appellant Mr.T.K. Satpathy. Standing Counsel -versusFalcon Real Estate (P) Ltd.

Bhubaneswar ....

Respondent

CORAM:

THE CHIEF JUSTICE JUSTICE R.K.PATTANAIK Order No.

ORDER

10.02.2022 03.

1. The present appeal arises from an order dated 12th September, 2011 passed by the Income Tax Appellate Tribunal, Cuttack Bench, Cuttack (ITAT) in IT(SS)A No.07/CTK/2011 for the Assessment Year (AY) 2006-07.

2. The impugned order of the ITAT mentions that the Department's representative was not able to furnish any material to justify the invocation of Section 2(22) (e) of the Income Tax Act, 1961 (IT Act) on the basis of which notice under Section 153C read with Section 153A of the Act had been issued particularly when the assessment pertaining to the block of these years AYs 2002-03, 2003-04 and 2004-05 was already separately considered by the Assessing Officer (AO).

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3. With concurrent findings having been rendered both by the CIT(A) and the ITAT, the Court finds that no substantial question of law arises for consideration. The appeal is dismissed.

(Dr. S. Muralidhar) Chief Justice (R.K. Pattanaik) Judge KC Bisoi