PRINCIPAL COMMISSIONER OF INCOME TAX, BHUBANESWAR Vs. ORISSA STATE POLICE HOUSING & WELFARE CORPORATION LTD

JUDGEMENT

(1.) This appeal by the Revenue is directed against an order dtd. 7/6/2017 passed by the Income Tax Appellate Tribunal, Cuttack Bench, Cuttack (ITAT) in ITA No.223/CTK/2014 for the Assessment Year (AY) 2009-10.

(2.) The Revenue seeks to urge the following question for consideration by this Court in assailing the above order of the ITAT:

(3.) The facts in brief are that the Respondent Assessee which is inter alia engaged in the construction of buildings filed its return of income for the AY in question disclosing an income of Rs.9,20,48,485.00. In terms of a revised computation, the Assessee declared a taxable income to the extent of Rs.11,58,48,250.00. The return was selected for scrutiny and notice under Sec. 143 (2) of the Act was issued to the Assessee. Thereafter, notice under Sec. 142(1) of the Act along with questionnaire was also issued.