OMM SHREE REALCON PVT. LTD,BHUBANESWAR vs. PR.CIT-1, BHUBANESWAR

In the result, appeal of the assessee stands allowed

Bench: Before S/Shri George Mathan, Judicial & And Rajesh Kumarassessment Year : 2018-19 Om Shree Realcon Pvt Ltd., Om Shree Realcon Pvt Ltd., Vs. Pr. Cit- Bhubaneswar Bhubaneswar-1 Plot No.418, Forest Park, 8, Forest Park, Bhubaneswar. Bhubaneswar. Pan/Gir No. Pan/Gir No.Aabco 3118 P (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri S.K.Sarangi, Ca S.K.Sarangi, Ca Revenue By : Shri M.K.Gautam, Pr. Cit (Osd) Pr. Cit (Osd) Date Of Hearing : 28 /0 06/2023 Date Of Pronouncement : 28 /0 /06/2023 O R D E R Per Bench

forward losses. The assessment order is totally silent and there is no discussion as to how this dividend income was to be given the character of business income for the purpose of set off under section 72 of the Act. It was for this reason that the CIT held that the Assessing Officer had not conducted any inquiry. The Tribunal

RAVI METALLICS LIMITED,ROURKELA vs. PR.CIT, SAMBALPUR

In the result, appeal of the assessee is allowed

Bench: Shri George Mathan & Shri Arun Khodpiaravi Metallics Limited, I/10, Civil Township, Rourkela-769004 Pan No.Adqps 4031 G ………………Assessee Versus Pr.Cit, Sambalpur ………………..Revenue Shri P.R.Mohanty, Ar For The Assessee Shri M.K.Gautam, Cit-Dr For The Revenue Date Of Hearing : 30/05/2022 Date Of Pronouncement : 30/05/2022 आदेश / O R D E R Per Bench : This Is An Appeal Filed By The Assessee Against The Order Of The Ld. Pr.Cit, Sambalpur, Passed U/S.263 Of The Act In Case No.Pcit/Sbp/263/26/2018-19, Dated 29.03.2019 For The Assessment Year 2014-2015. Heard On The Question Of Condonation Of Delay 2. On Perusal Of The Record, We Found That The Appeal Of The Assessee Is Barred By 686 Days. In This Regard, Ld. Ar Filed An Application Along With Affidavit For Condonation Of Delay, Wherein It Has Been Submitted That The Delay Occurred In Filing The Present Appeal Is Neither Intentional Nor Deliberate But Due To Unfortunate & Unavoidable Circumstances Beyond

bogus purchases of Rs.4,90,66,446/-, the appellant company had reduced its GP and NP. These aspects had been overlooked by the A.O. while completing the original assessment on 05.04.2016. On the first and fifth issues, reliance is placed on the judgement of Hon'ble Mumbai High Court in the case of Jeevan Investment & Finance Ltd. (88 taxmann.com

SUDERSHAN BHUYAN,BALASORE vs. JCIT, BALASORE RANGE, BALASORE, BALASORE

In the result, appeal filed by the assessee is allowed

Bench: Shri N.S Sainiassessment Year : 2009-2010 Assessment Year: 2009-2010

loss account. Therefore, the assessee can have no grievance against the order of the CIT(A). Hence, this ground of appeal is dismissed. 5. In Ground No.3 of the appeal, the grievance of the assessee is that the CIT(A) erred in confirming the disallowance of depreciation of Rs.23,916/- claimed by the assessee. 6. I have heard the rival

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.

carrying out the transaction of securities for financial gains, are liable to pay STT. All gains from such transactions are called capital gains and are classified as LTCG or STCG, depending on the holding period. Therefore, the alleged substantial questions of law as proposed by the Revenue cannot be sustained in the eye of law, as the same is contrary

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.

carrying out the transaction of securities for financial gains, are liable to pay STT. All gains from such transactions are called capital gains and are classified as LTCG or STCG, depending on the holding period. Therefore, the alleged substantial questions of law as proposed by the Revenue cannot be sustained in the eye of law, as the same is contrary

TARINI MINERALS PVT. LTD.,ROURKELA vs. ACIT, ROURKELA

In the result, appeal of the assessee is allowed

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahuassessment Year : 2012-13

bogus. Ld A.R. referred to page 3 of the APB i.e. ledger account of Zodiac Enterprises from 1.4.2011 to 31.3.2012, wherein, it has been shown as at 1.4.2011, the amount of Rs.17,36,046/- in opening balance as well as closing balance, therefore, same amount has been brought forward from the preceding year

SANDEEP KUMAR AGARWAL,JAGATPUR vs. ACIT,NFAC, DELHI, CUTTACK

In the result, appeal of the assessee stands allowed

Bench: Before Shri George Mathan, Judicial & Manish Agarwal Manish Agarwalassessment Year : 2014-15 Sandeep Sandeep Kumar Kumar Agarwal, Agarwal, Vs. Acit, Nfac, Delhi/Cuttack Acit, Nfac, Delhi/Cuttack C/O. Agarwal Spices & C/O. Agarwal Spices & Food Processors Pvt Ltd., Food Processors Pvt Ltd., Jagatpur. Pan/Gir No Pan/Gir No.Aarpa 8064 B (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri Mohit Sheth Mohit Sheth, Adv Revenue By : Shri Charan Dass, Ld Sr Dr , Ld Sr Dr Date Of Hearing : 28/0 05/2024 Date Of Pronouncement : 28/0 /05/2024 O R D E R Per Bench

loss on account of the purchase and sale of CCL International shares for the assessment year 2013-2014 of 500 shares and the short term capital gains in respect of 316 shares of M/s CCL International Ltd. for the assessment year 2014-2015. This being so, we are of the view that the assessee is entitled to the deduction u/s.10

NATBAR NATH,KORAPUT vs. ITO, JEYPORE

In the result, the appeal filed by the assessee is dismissed

Bench: Shri N.S Sainiassessment Year :2009-2010

bogus and added to the income of the assessee. 5. The CIT(A) called for a remand report and the Assessing Officer vide letter dated 17.1.2014 stated that the addition of Rs.5,94,651/- was justified as the creditors could not be established during the assessment proceedings. 6. The assessee was confronted with the remand report and in reply

RASHI AGRAWAL,CUTTACKI vs. INCOME TAX OFFICER, CUTTACK

In the result, appeal of the assessee allowed

carried out by the Directorate of Investigation, Kolkata only proves that the appellant wants to take shelter under such documentary evidences which themselves have been created as masks to cover up the true nature of transaction. A genuine transaction must be proved to be genuine in all respect. The onus was on the appellant to prove that the transaction leading

DCIT CENTRAL CIRCLE-2, BHUBANESWAR vs. M/S. HOTEL SUKHAMAYA PVT. LTD, BHUBANESWAR

In the result, all the three appeals of the Revenue are dismissed

bogus, the provision of ss 269SS and 269T are not attracted in the facts of the case. Even if they were to apply, in the facts and circumstances not invoking the provision of ss. 271D and 271E. In this view of the matter also the order of penalty under ss. 271D and 271E is cancelled... CIT Vs. Bazpur, Cooperative Sugar

DCIT CENTRAL CIRCLE-2, BHUBANESWAR vs. M/S. HOTEL SUKHAMAYA PVT. LTD, BHUBANESWAR

In the result, all the three appeals of the Revenue are dismissed

bogus, the provision of ss 269SS and 269T are not attracted in the facts of the case. Even if they were to apply, in the facts and circumstances not invoking the provision of ss. 271D and 271E. In this view of the matter also the order of penalty under ss. 271D and 271E is cancelled... CIT Vs. Bazpur, Cooperative Sugar

SURENDRA KUMAR AGRAWAL,NUAPADA vs. ITO, BHAWANIPATNA WARD, BHAWANIPATNA

In the result, the appeal filed by the assessee is partly allowed for

Bench: S/Shri N.S Saini & Kuldip Singhassessment Year :2011-12

bogus expenses in order to reduce its income. Further, no details have been provided either by the Assessing Officer or by the CIT(A) as to which of the transportation expenses is not verifiable. Therefore, we are of the considered view that no estimated disallowance out of total transportation inward expenses of Rs.96,71,825/- can be made by theAassessing

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

carrying out the transaction of securities for financial gains, are liable to pay STT. All gains from such transactions are called capital gains and are classified as LTCG or STCG, depending on the holding period. Therefore, the alleged substantial questions of law as proposed by the Revenue cannot be sustained in the eye of law, as the same is contrary

ACIT, RORUKELA CIRCLE, ROURKELA vs. INDRANI PATNAIK, ROURKELA

In the result, appeals of the revenue for assessment years 2012-13 &

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahu

bogus or is a ploy adopted by the assessee to reduce the taxable profit. 2.3 The AO in the assessment order has given a list of commission agents, letters issued to whom have not been replied. Since all the relevant details relating to commission payments were given by the assessee, the onus cast on the assessee appears to have been

INDRANI PATNAIK,ROURKELA vs. DCIT, RORUKELA CIRCLE, ROURKELA

In the result, appeals of the revenue for assessment years 2012-13 &

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahu

bogus or is a ploy adopted by the assessee to reduce the taxable profit. 2.3 The AO in the assessment order has given a list of commission agents, letters issued to whom have not been replied. Since all the relevant details relating to commission payments were given by the assessee, the onus cast on the assessee appears to have been

SHIV KUMAR PODDAR,BALASORE vs. ITO, WARD-2, BALASORE

In the result, appeal filed by the assessee is partly allowed for

Bench: S/Shri N.S Saini & Pavan Kumar Gadale

carried from earlier year and outstanding at the end of the year as the income of the assessee although the same has been paid to the loan creditor in subsequent year. 6. That the CIT(A) should have allowed an opportunity to the assessee to explain the difference in receipt if any from Bharati Airtel Limited and Honda Siel Power

ACIT, BALASORE CIRCLE, BALASORE vs. SHIV KUMAR PODDAR, BALASORE

In the result, appeal filed by the assessee is partly allowed for

Bench: S/Shri N.S Saini & Pavan Kumar Gadale

carried from earlier year and outstanding at the end of the year as the income of the assessee although the same has been paid to the loan creditor in subsequent year. 6. That the CIT(A) should have allowed an opportunity to the assessee to explain the difference in receipt if any from Bharati Airtel Limited and Honda Siel Power

SIBA NARAYAN ROUT,BHADRAK vs. ACIT, BALASORE

In the result, the appeal filed by the revenue is dismissed

Bench: S/Shri N.S Saini & Pavan Kumar Gadaleassessment Year : 2008-09

loss account where the assessee has disclosed this income in the said financial year under gross bills received and made the fixed deposit with Union Bank, Cuttack on 6.11.2007 of Rs.1,25,000/- each aggregating to Rs.20 lakhs. The assessee has recorded the deposits in the financial statement and Books of accounts are audited. The revenue’s sole allegation that

M/S. EXIM INDIA OIL COMPANY LTD,CUTTACK vs. DCIT, CUTTACK

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 : 1998-99 M/S. Exim India Oil Company M/S. Exim India Oil Company Vs. Dcit, Circle Dcit, Circle-1(1), Ltd., At:N.H-5, Tiberwal Nagar, 5, Tiberwal Nagar, Cuttack Jagatpur, Cuttack Jagatpur, Cuttack Pan/Gir No. No.Aaace 3929 K (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri B.K. Tiberwal Tiberwal, Md Revenue By : Shri M.K.Gautam, Cit ( Cit (Dr) Date Of Hearing : 8/6/ 20 / 2022 Date Of Pronouncement : 8 /6 6/2022 O R D E R

losses. However, although the company is under liquidation, but managed to deposit the deficit fees on 5.1.2012, copy of the challan is placed on record. It is stated that the non-deposit of appeal is not intentional and prayed for condoning the delay. 3. At the time of hearing, the Managing Director of the assessee company reiterated the submissions made