YUKON ENTERPRISES PRIVATE LIMITED,ROURKELA vs. INCOME TAX OFFICER, ROURKELA

In the result, appeal of the assessee stands allowed

Bench: Before Shri George Mathan, Judicialassessment Year : 2018-19 Yukon Enterprises Pvt Yukon Enterprises Pvt Ltd., Vs. Income Tax Officer, Ward Income Tax Officer, Ward-1, C-1, 1, Industrial Industrial Estate, Estate, Rourkela Rourkela Pan/Gir No Pan/Gir No.Aadcg 4107 E (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri Amulya Kumar Roy, Ca Amulya Kumar Roy, Ca Revenue By : Shri S.C.Mohanty, Ld Sr Dr , Ld Sr Dr Date Of Hearing : 30/0 07/2024 Date Of Pronouncement : 30/0 /07/2024

purchase in the hands of the assessee as bogus purchases and made the addition. It was the submission

M/S. BAJRANGBALI RE-ROLLES PVT. LTD,ROURKELA vs. ACIT, CENTRAL CIRCLE, SAMBALPUR

In the result, appeal of the assessee stands allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaassessment Year : 2020-2021 2021 M/S. Bajrangbali Re M/S. Bajrangbali Re-Rollers Vs. Acit, Acit, Central Central Circle, Circle, Pvt Pvt Ltd., Ltd., Lal Lal Building, Building, Sambalpur Sambalpur Kachery Road, Rourkela. Kachery Road, Rourkela. Pan/Gir No. Pan/Gir No.Aaccb 6678 A (Appellant (Appellant) .. ( Respondent Respondent) Assessee By Assessee By : Shri S.K.Tulsiyan, Ms Nisha Rachh & B.K.Tibrewal, Nisha Rachh & B.K.Tibrewal, Ars Revenue By : Shri M.K.Gautam, Pr. Cit (Osd) Pr. Cit (Osd) Date Of Hearing : 28 /0 03/2023 Date Of Pronouncement : 28 /0 /03/2023

purchases or sales. There is no claim of bogus purchases and sales in the relevant assessment year

BAJRANG STEEL & ALLOYS PRIVATE LIMITED,SUNDARGARH vs. PRINCIPAL COMMISSIONER OF INCOME TAX, SAMBALPUR

In the result, appeal of the assessee is allowed

Bench: Shri George Mathan & Shri Rajesh Kumarआयकर अपील सं/Ita No.553/Ctk/2024 (निर्धारण वर्ा / Assessment Year : 2018-2019) Bajrang Steel & Alloys Private Vs Pcit, Sambalpur Limited Plot No:- 31, Kalunga, Near Kalunga High School, Sundergarh, 770031 Pan No. : Aaacm 2123 M (अपीलधर्थी /Appellant) .. (प्रत्यर्थी / Respondent) निर्धाररती की ओर से /Assessee By : Miss Sarmila Agarwal, Ca रधजस्व की ओर से /Revenue By : Shri Ashim Kumar Chakraborty, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 22/09/2025 घोषणा की तारीख/Date Of Pronouncement : 22/09/2025

bogus purchases. It was submission that the Ld. PCIT invoked its power u/s.263 of the Act on the ground

ORISSA CHROME EXPORT & MINING COMPANY PVT. LTD.,BHUBANESWAR vs. ACIT, CIRCLE-1(2), BHUBANESWAR

In the result, appeal of the assessee is partly allowed for statistical purposes

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaassessment Year : 2014-15 Orissa Orissa Chrome Chrome Export Export & & Vs. Acit, Circle Acit, Circle-1(2), Mining Company Pvt Ltd., A Mining Company Pvt Ltd., A- Bhubaneswar Bhubaneswar 65/1, 65/1, Nayapali, Nayapali, Bhubaneswar Bhubaneswar Pan/Gir No. Pan/Gir No.Aaaco 4389 B (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri P.R.Mohanty, Ar P.R.Mohanty, Ar Revenue By : Shri Suresh Shivanand Shivanandan, Cit Dr Date Of Hearing : 22/0 02/2023 Date Of Pronouncement : 22/0 /02/2023 O R D E R Per Bench This Is An Appeal Filed By The Assessee Against The Order Of The Ld This Is An Appeal Filed By The Assessee Against The Order Of The Ld This Is An Appeal Filed By The Assessee Against The Order Of The Ld Cit(A) -1, Bhubaneswar, 1, Bhubaneswar, Dated17.9.2019 In Appeal No. In Appeal No.0344/16-17 For The Assessment Year Assessment Year 2014-15. 2. Shri P.R.Mohanty, Ld Ar Appeared For Th Shri P.R.Mohanty, Ld Ar Appeared For The Assessee & Shri S E Assessee & Shri Suresh Shivanandan, Ld Cit Dr Appeared For The Revenue. , Ld Cit Dr Appeared For The Revenue.

purchase to be bogus insofar as the original bills and vouchers were un-dated and were in A4 size

M/S.BALLURAM STEELS PVT. LIMITED,ROURKELA vs. PRINCIPAL CIT, CENTRAL CIRCLE, VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri George Mathan & Shri Rajesh Kumarआयकर अपील सं/Ita No.291/Ctk/2025 ("नधा"रण वष" / Assessment Year : 2018-2019) M/S Balluram Steels Pvt. Ltd, Vs Pr.Cit, Central Circle, 1St Floor, Purohit Market Complex Visakhapatnam Main Road, Rourkela-769012 Pan No. :Aaccb 7253 P (अपीलाथ" /Appellant) (""यथ" / Respondent) .. "नधा"रती क" ओर से /Assessee By : Shri P.K.Mishra, Ar राज"व क" ओर से /Revenue By : Shri Ashim Kumar Chakraborty, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 02/12/2025 घोषणा क" तार"ख/Date Of Pronouncement : 02/12/2025 आदेश / O R D E R Per Bench : This Is An Appeal Filed By The Assessee Against The Order Passed By The Ld. Pr.Cit(Central), Visakhapatnam, Dated 28.03.2025 For The Assessment Year 2018-2019. 2. It Was Submitted By The Ld. Ar That In The Course Of Assessment U/S.147 Of The Act, The Ao Had Disbelieved The Transaction Of The Purchase Of Iron Ore & Had Invoked The Provisions Of Section 37(1) Of The Act & Had Made The Disallowance Of Purchases. It Was The Submission That The Ld. Pr.Cit Has Invoked His Powers U/S.263 Of The Act & Had Directed That The Provisions Of Sectiion 37(1) Of The Act Is Not To Be Applied But The Provisions Of Section 69C Of The Act Are To Be Applied. It Was The Submission That The Issue Is Now Squarely Covered By The Decision Of The Coordinate Bench Of The Tribunal In The Case Of Bajrang Steel & Alloys Private Limited, Passed

purchases of iron ore is itself is bogus and as the transaction is bogus the provision of Section

SANSAR AGROPOL PRIVATE LIMITED,BHUBANESWAR vs. I.T.O. WARD-2(2), BHUBANESWAR

In the result, appeal of the assessee is partly allowed

bogus, there were other transactions of purchase and sales and also in subsequent year the amounts outstanding at the end of the previous

INDERPAL SINGH CHHABRA,ROURKELA vs. ACIT, ROURKELA

In the result, appeal of the assessee is allowed

Bench: Shri George Mathan & Shri Rajesh Kumarआयकर अपील सं/Ita No.450/Ctk/2024 (नििाारण वर्ा / Assessment Year : 2018-2019) Inderpal Singh Chhabra Vs Acit, Circle Rourkela Prop: Essar Enterprises Daily Market, C/O Crazy Cool, Main Rd, Po/Ps : Rourkela, Dist : Sundargarh Pan No. :Ajlpc 6337 J (अपीलार्थी /Appellant) (प्रत्यर्थी / Respondent) .. नििााररती की ओर से /Assessee By : Shri P.K.Mishra & Shri Baidyanath Behera, Advocates राजस्व की ओर से /Revenue By : Shri Sanjay Kumar, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 08/04/2025 घोषणा की तारीख/Date Of Pronouncement : 08/04/2025 आदेश / O R D E R Per Bench : This Is An Appeal Filed By The Assessee Against The Order Of The Ld Cit(A), Nfac, Delhi Dated 04.09.2024 In Din & Order No.Itba/Nfac/S/250/2024-25/1068345718(1)), For The Assessment Year 2018-19. 2. Shri P.K.Mishra, Advocate Appeared On Behalf Of The Assessee. Shri Sanjay Kumar, Ld Cit Dr Represented On Behalf Of The Revenue. 3. The Assessee Is Engaged In The Transportation Of Coal & Trading In Coals. It Was Submitted By Ld Ar That The Original Return Filed By The Assessee Came To Be Processed U/S.143(3) Of The Act By The Nfac & The Assessment Came To Be Completed On 10.02.2021 Accepting The Returned Income. Ld Ar Drew Our Attention To Page 3 Of The Paper Book

purchases form said Rachel Realtors Pvt. Ltd. were bogus. It was submission that the reopening is liable to be upheld

RASHI AGRAWAL,CUTTACKI vs. INCOME TAX OFFICER, CUTTACK

In the result, appeal of the assessee allowed

purchase and sale of shares are genuine. Even otherwise the holding of the shares by the assessee at the time of allotment subsequent to the amalgamation/merger is not in doubt, therefore, the transaction cannot be held as bogus

RIDHI BAGARIA,CUTTACK vs. ITO WARD-1(1), CUTTACK

In the result, appeal of the assessee allowed

purchase and sale of shares are genuine. Even otherwise the holding of the shares by the assessee at the time of allotment subsequent to the amalgamation/merger is not in doubt, therefore, the transaction cannot be held as bogus

SATISH KUMAR GARG,ROURKELA vs. ITO WARD-5, ROURKELA

In the result, appeal of assessee stands allowed

Bench: Before Shri George Mathanmember Assessment Year : 2014-15 Satish Satish Kumar Kumar Vs. Income Tax Officer, Ward-5, Income Tax Officer, Ward Garg,Gurudwara Road, Near Garg,Gurudwara Road, Near Aayakar Bhavan, Uditnagar, Aayakar Bhavan, Uditnagar, Gurudwara, Rourkela Gurudwara, Rourkela Rourkela Pan/Gir No. . (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri P.R.Mohanty, Adv : Shri P.R.Mohanty, Adv Revenue By : Shri S.C.Mohanty, Ld Sr Dr , Ld Sr Dr Date Of Hearing : 25/09/20 2024 Date Of Pronouncement : 25/09/2 2024 O R D E R This Is An Appeal Filed By The Revenue An Appeal Filed By The Revenue Against The Order Of The Ld Inst The Order Of The Ld Cit(A), Cit(A), Nfac, Nfac, Delhi Delhi Dated 26.12.2022 In Appeal No.Cit(A),Sambalpur/10380/2016 Sambalpur/10380/2016-17 For The Assessment Year 2014 Assessment Year 2014-15. 2. Shri P.R.Mohanty, Ld Ar Appeared For The Assessee & Shri Shri P.R.Mohanty, Ld Ar Appeared For The Assessee & Shri Shri P.R.Mohanty, Ld Ar Appeared For The Assessee & Shri S.C.Mohanty, Ld Sr Dr Appeared For The Revenue. S.C.Mohanty, Ld Sr Dr Appeared For The Revenue.

purchase and sale of the shares of NCL Research & Financial Services Ltd., as bogus P a g e 2 | 13 Assessment

PRAKASH AGARWAL,ROURKELA vs. INCOME TAX OFFICER, KEONJHAR

In the result, appeal of assessee stands allowed

Bench: Before Shri George Mathanmember Assessment Year : 2014-15 Satish Satish Kumar Kumar Vs. Income Tax Officer, Ward-5, Income Tax Officer, Ward Garg,Gurudwara Road, Near Garg,Gurudwara Road, Near Aayakar Bhavan, Uditnagar, Aayakar Bhavan, Uditnagar, Gurudwara, Rourkela Gurudwara, Rourkela Rourkela Pan/Gir No. . (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri P.R.Mohanty, Adv : Shri P.R.Mohanty, Adv Revenue By : Shri S.C.Mohanty, Ld Sr Dr , Ld Sr Dr Date Of Hearing : 25/09/20 2024 Date Of Pronouncement : 25/09/2 2024 O R D E R This Is An Appeal Filed By The Revenue An Appeal Filed By The Revenue Against The Order Of The Ld Inst The Order Of The Ld Cit(A), Cit(A), Nfac, Nfac, Delhi Delhi Dated 26.12.2024 In Appeal No.Cit(A),Sambalpur/10380/2016 Sambalpur/10380/2016-17 For The Assessment Year 2014 Assessment Year 2014-15. 2. Shri P.R.Mohanty, Ld Ar Appeared For The Assessee & Shri Shri P.R.Mohanty, Ld Ar Appeared For The Assessee & Shri Shri P.R.Mohanty, Ld Ar Appeared For The Assessee & Shri S.C.Mohanty, Ld Sr Dr Appeared For The Revenue. S.C.Mohanty, Ld Sr Dr Appeared For The Revenue.

purchase and sale of the shares of NCL Research & Financial Services Ltd., as bogus P a g e 2 | 13 Assessment

HANUMAN KHEDARIA HUF,ROURKELA vs. ITO WARD 2, ROURKELA, ROURKELA

In the result, appeal of the assessee stands allowed

Bench: Before S/Shri George Mathan, Judicial & Rajesh Kumarassessment Year : 2014-15 Hanuman Khedaria (Huf), Hanuman Khedaria (Huf), Vs. Ito, Ward Ito, Ward-2, Rourkela. C/O. Kadmawala & Co., Ca, C/O. Kadmawala & Co., Ca, Budhram Budhram Oram Oram Market, Market, Kachery Road, Rourkela. Kachery Road, Rourkela. Pan/Gir No. Pan/Gir No. (Appellant) ) .. ( Respondent Respondent) Assessee By : Shri M.R.Sahu, Ca .R.Sahu, Ca Revenue By : Shri Charan Dass, Sr. Shri Charan Dass, Sr. Dr Date Of Hearing : 01/12 12/2023 Date Of Pronouncement : 01/12 Date Of Pronouncement : 01/12/2023 O R D E R Per Bench

purchased during the assessment year 2013-14 and they were sold during the assessment year 2014-15. The contract notes of M/s. Ashoka Stock Broking Ltd., were produced before the Assessing Officer and the ld CIT(A). It was the further submission that M/s. Ashoka Stock Broking Ltd., was never identified as one of the bogus

HEMANT KUMAR AGARWAL,CUTTACK vs. ADDL.CIT , NFAC, DELHI

In the result, both appeals of the assessee are allowed

bogus transaction in respect of penny stock. It was the submission that the AO had accepted the short term capital loss in respect of the same shares purchased

HEMANT KUMAR AGARWAL,CUTTACK vs. ADDL.CIT NFAC, DELHI

In the result, both appeals of the assessee are allowed

bogus transaction in respect of penny stock. It was the submission that the AO had accepted the short term capital loss in respect of the same shares purchased

GITA DEVI GUPTA,CUTTACK vs. DEPUTY COMMISSIONER OF INCOME TAX, CUTTACK

In the result, appeal of the assessee stands partly allowed

Bench: Before Shri George Mathan, Judicial & Manish Agarwal Manish Agarwalassessment Year :2017-18 Gita Devi Gupta, Pro. M/S. Gita Devi Gupta, Pro. M/S. Vs. Dcit, Assessment Circle Dcit, Assessment Circle D.D. Textiles, Nandi Sahi, D.D. Textiles, Nandi Sahi, 2(1), Cuttack 2(1), Cuttack Cuttack Pan/Gir No. No.Aazpg 8154 E (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri P.K.Mishra, Adv P.K.Mishra, Adv Revenue By : Shri S.C.Mohanty S.C.Mohanty, Sr Dr Date Of Hearing : 7/8/ /2024 Date Of Pronouncement : 7/8 /8/2024 O R D E R

bogus. 8. We have considered the rival submissions. A perusal of the facts in the present case clearly shows that the assessee has also shown the sales and purchases

ASHWIN KUMAR AGARWAL,CUTTACK vs. DCIT ASMNT CIRCLE-2(1)CUTTACK, CUTTACK

In the result, appeal of the assessee is allowed

bogus capital gains. We notice that the AO has placed reliance on the said report without bringing any material on record to show that the transactions entered by the assessee were found to be a part of manipulated transactions, i.e., it was not proved that the assessee has carried out the transactions of purchase

B.C. BHUYAN CONSTRUCTION PVT. LTD.,BHUBANESWAR vs. DCIT, CORPORATE CIRCLE- 1(1), BHUBANESWAR

In the result, appeal of the assessee stands partly allowed for statistical purposes

Bench: Before S/Shri George Mathan, Judicial & Girish Agrawalwalassessment Year : 2014-15 B.C.Bhuyan Construction Pvt B.C.Bhuyan Construction Pvt Vs. Dcit, Corporate Circle Dcit, Corporate Circle - Ltd., Plot No.90, Palasuni, Ltd., Plot No.90, Palasuni, 1(1), Rasulgarh, Bhubaneswar Rasulgarh, Bhubaneswar Bhubaneswar Bhubaneswar Pan/Gir No. Pan/Gir No.Aadcb 3304 N (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri P.C.Sethi, Adv Revenue By Revenue By : Shri Saroj Kumar Mahapatra, Saroj Kumar Mahapatra, Pr. Cit Dr Date Of Hearing : 20/07 7/2023 Date Of Pronouncement : 20/0 /07/2023

purchase in respect of Classic Engineers of Rs.38,98,562/- and Kanchan Industries of Rs.32,79,673/-. It was the submission that the Assessing Officer has not even examined the said sundry creditors but has treated the same as bogus

INCOME TAX OFFICER, PURI vs. KRUSHNA CHANDRA PUJAPANDA, PURI

In the result, appeal of the revenue stands partly allowed for statistical purposes and the cross objection of the assessee stands dismissed

Bench: Shri George Mathan & Shri Rajesh Kumarआयकर अपील सं/Ita No.448/Ctk/2024 C.O. No.06/Ctk/2025 ("नधा"रण वष" / Assessment Year : 2022-23) Income Tax Officer, Aayakar Vs Krushna Chandra Pujapanda, Bhavan, Penthakata, Puri Matimandap Sahi, H.O.Puri Town, Puri. Pan No. : Abdpp 0879 N .. (अपीलाथ" /Appellant) (""यथ" / Respondent) "नधा"रती क" ओर से /Assessee By : Shri Ashok Kumar Chatterjee, Ca : Shri Ashim Kumar Chakraborty, Ld Cit राज"व क" ओर से /Revenue By Dr सुनवाई क" तार"ख / Date Of Hearing : 5 /12/2025 घोषणा क" तार"ख/Date Of Pronouncement : 5 /12/2025 आदेश / O R D E R Per Bench : This Is An Appeal Filed By The Revenue Against The Order Dated 4.9.2024 Passed By Ld Cit(A), Nfac, Delhi In Appeal No.Nfac/2021-22/10363554 For The Assessment Year 2022-23. 2. The Cross Objection Is Filed By The Assessee In Appeal Filed By The Revenue In Ita No.448/Ctk/2024. 3. Shri Ashok Kumar Chatterjee, Ld Ar Appeared For The Assessee & Shri Ashim Kumar Chakraborty, Ld Cit Dr Appeared For The Revenue.

bogus transaction insofar as the shares had been sold at a valuation of Rs.510 per share and the face value of the share Rs.100 and M/s. Niladree Build-Tech Pvt Ltd., was a loss making company. It was specifically put to ld AR as to who was Shri T.P.Mohanty, who has purchased

PUJA AGARWAL,ROURKELA vs. ITO WARD 1, ROURKELA

Appeal of the assessee is allowed

Bench: Shri George Mathan & Shri Laxmi Prasad Sahuआयकर अपील सं/Ita No.628/Ctk/2025 (नििाारण वर्ा / Assessment Year : 2015-2016) Puja Agarwal, Vs Ito Ward-1, Rourkela O-18, Civil Township, Rourkela-769004 Pan No. : Agwpa 5744 K (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) नििााररती की ओर से /Assessee By : Shri Ayush Agarwal, Ar राजस्व की ओर से /Revenue By : Shri Vijay Singh, Sr. Dr सुनवाई की तारीख / Date Of Hearing : 04/02/2026 घोषणा की तारीख/Date Of Pronouncement : 04/02/2026 आदेश / O R D E R Per George Mathan, Jm :

bogus transactions in the shares of KAFL also did not implicate the assessee and/or his broker. It is also a matter of record that the assessee furnished all evidences in the form of bills, contract notes, demat statements and the bank accounts to prove the genuineness of the transactions relating to purchase