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

In the result, appeal of the assessee is allowed

exempt u/s.10(38) of the Act. During the course of proceedings before the lower authorities, the assessee had filed all the details with respect to the purchases of shares, 3 sales of shares, copy of Demat account etc and also submit a detailed chart of lthe computation of LTCG on each script which is reproduced

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

In the result, appeal of the assessee is partly allowed

bogus sundry creditors" representing advance from buyers. The contention of the Ld CIT(Appeals) is that since after showing the amount in the balance sheet duly audited by a chartered accountant as unsecured loan, the appellant is claiming that the said advance was wrongly classified as unsecured loan though it was actually advance receipt from buyers. Though the reason

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.

exempt. It was the submission that the Assessing Officer treated the purchase and sale of the shares of NCL Research & Financial Services Ltd., as bogus

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.

exempt. It was the submission that the Assessing Officer treated the purchase and sale of the shares of NCL Research & Financial Services Ltd., as bogus

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

bogus entry providers nor have they been questioned. Ld AR further drew our attention to the bank statement reflecting the sale proceeds received from M/s. Ashoka Stock Broking Ltd. These evidences were found in the paper book from pages 1 to 23 of PB. It P a g e 3 | 10 Assessment Year : 2014-15 was the further submission that

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

In the result, both appeals of the assessee are allowed

exemption u/s.10(38) of the Act. It was the submission that the AO treated the claim of assessee u/s.10(38) of the Act as ineligible by holding the transaction as a 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

exemption u/s.10(38) of the Act. It was the submission that the AO treated the claim of assessee u/s.10(38) of the Act as ineligible by holding the transaction as a 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

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

exemption u/s.10(38) of the Act. Even otherwise the AO himself has accepted the short term capital 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

GANESH KUMAR SHARMA,CUTTACK vs. ITO, WARD-1, CUTTACK

In the result, appeal of the assessee is allowed on the legal as well as on merits also

bogus entries without appreciating the evidences filed by the assessee. He, thus, submitted that the transaction of long term capital gain being genuine transaction deserves to be allowed as exempt u/s.10(38) of the Act. For this, he placed reliance on the judgment of Hon’ble Jurisdictional High 4 Court in the case of Kuntala Mohapatra, reported

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.

purchased the shares of M/s. Niladree Build- Tech Pvt Ltd. Ld AR submitted that he has no information and he does not know Shri T.P.Mohanty. It was then put to ld CIT DR that the Assessing Officer having held the sale of shares of M/s. Niladree Build-Tech Pvt Ltd., to be a bogus transaction, whereas the question

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 and sale of shares resulting in LTCG. These

MUKESH AGARWAL,ROURKELA vs. INCOME TAX OFFICE, WARD 1, ROURKELA

Appeal of the assessee is allowed

Bench: Shri George Mathan & Shri Laxmi Prasad Sahuआयकर अपील सं/Ita No.631/Ctk/2025 (नििाारण वर्ा / Assessment Year : 2015-2016) Mukesh Agarwal, Vs Ito Ward-1, Rourkela O-18, Civil Township, Rourkela-769004 Pan No. : Adipa 0575 D (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 and sale of shares resulting in LTCG. These

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

purchase of materials and payment to bank, when the payment is overdue RKDCPL, which carrying out Road work in remote localities, needs cash sometime urgently to send its work sites Reference may be made to the voucher (Ref page no 64 of the Paper Book) of RKDCPL where it is mentioned that on 16.09.10, the RKDCPL paid

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

purchase of materials and payment to bank, when the payment is overdue RKDCPL, which carrying out Road work in remote localities, needs cash sometime urgently to send its work sites Reference may be made to the voucher (Ref page no 64 of the Paper Book) of RKDCPL where it is mentioned that on 16.09.10, the RKDCPL paid