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Showing contexts for: iron ore processing in M/S Nrvs Steels Ltd., Basna, Mahasamund vs Deputy Commissioner Of Income Tax, ... on 16 August, 2024Matching Fragments
IT(SS)A Nos.11 & 12/RPR/2022, CO Nos 17 & 18/RPR/2022 DCIT Circle-1(1) vs M/s NRVS Steels Ltd., Basna 4.2 Coming to the grounds of appeal raised by the department wherein the ground no. 1 of the department is regarding deletion of addition u/s 68 of the IT Act for Rs.2,19,00,000/- for the AY 2008-09 by the Ld. CIT(A).
4.3 The brief facts of the issue are that the assessee is a Public Limited Company, engaged in manufacturing of Sponge Iron through processing Iron Ore, coal and dolomite. A search and seizure operation u/s 132 of the IT Act, 1961 was carried out on various premises of the NR Group and its associates / concerns on 24.10.2017. Consequently, notice u/s 153A of the Income Tax Act, 1961 was issued on 01.08.2017 for the AY 2008-09 to 2017-18. In response to the notice, assessee filed returned of income for the AY 2008-09 to 2017-18 on 07.12.2019/25.12.2019.