ITO, BHADRAK WARD, BHADRAK vs. ANUPAMA MOHAPATRA, BHADRAK

In the result, Appeals of the revenue in in ITANos

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am

exemption u/s 10(38) of the Act, and treating the claim of Long Term Capital Gain as bogus towards LTCG claimed at Rs.38,00,000/- and Rs.62, 42,000/- for A.Y. 2014-15 & 2015-15 from sale of equity shares of M/s Kailash Auto Finance Ltd (KAFL) & M/s. Lifeline Drugs & Pharma Ltd. (LD& DL) respectively. 10. In the appellate proceedings

ITO, BHADRAK WARD, BHADRAK vs. DEEPANSU MOHAPATRA, BHADRAK

In the result, Appeals of the revenue in in ITANos

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am

exemption u/s 10(38) of the Act, and treating the claim of Long Term Capital Gain as bogus towards LTCG claimed at Rs.38,00,000/- and Rs.62, 42,000/- for A.Y. 2014-15 & 2015-15 from sale of equity shares of M/s Kailash Auto Finance Ltd (KAFL) & M/s. Lifeline Drugs & Pharma Ltd. (LD& DL) respectively. 10. In the appellate proceedings

ITO, BHADRAK WARD, BHADRAK vs. ANUPAMA MOHAPATRA, BHADRAK

In the result, Appeals of the revenue in in ITANos

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am

exemption u/s 10(38) of the Act, and treating the claim of Long Term Capital Gain as bogus towards LTCG claimed at Rs.38,00,000/- and Rs.62, 42,000/- for A.Y. 2014-15 & 2015-15 from sale of equity shares of M/s Kailash Auto Finance Ltd (KAFL) & M/s. Lifeline Drugs & Pharma Ltd. (LD& DL) respectively. 10. In the appellate proceedings

ITO, BHADRAK WARD, BHADRAK vs. SITANSU SEKHAR MOHAPATRA, BHADRAK

In the result, Appeals of the revenue in in ITANos

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am

exemption u/s 10(38) of the Act, and treating the claim of Long Term Capital Gain as bogus towards LTCG claimed at Rs.38,00,000/- and Rs.62, 42,000/- for A.Y. 2014-15 & 2015-15 from sale of equity shares of M/s Kailash Auto Finance Ltd (KAFL) & M/s. Lifeline Drugs & Pharma Ltd. (LD& DL) respectively. 10. In the appellate proceedings

ITO, BHADRAK WARD, BHADRAK vs. HIMANSU MOHAPATRA, BHADRAK

In the result, Appeals of the revenue in in ITANos

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am

exemption u/s 10(38) of the Act, and treating the claim of Long Term Capital Gain as bogus towards LTCG claimed at Rs.38,00,000/- and Rs.62, 42,000/- for A.Y. 2014-15 & 2015-15 from sale of equity shares of M/s Kailash Auto Finance Ltd (KAFL) & M/s. Lifeline Drugs & Pharma Ltd. (LD& DL) respectively. 10. In the appellate proceedings

ITO, BHADRAK WARD, BHADRAK vs. HIMANSU MOHAPATRA, BHADRAK

In the result, Appeals of the revenue in in ITANos

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am

exemption u/s 10(38) of the Act, and treating the claim of Long Term Capital Gain as bogus towards LTCG claimed at Rs.38,00,000/- and Rs.62, 42,000/- for A.Y. 2014-15 & 2015-15 from sale of equity shares of M/s Kailash Auto Finance Ltd (KAFL) & M/s. Lifeline Drugs & Pharma Ltd. (LD& DL) respectively. 10. In the appellate proceedings

ITO, BHADRAK WARD, BHADRAK vs. DEEPANSU MOHAPATRA, BHADRAK

In the result, Appeals of the revenue in in ITANos

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am

exemption u/s 10(38) of the Act, and treating the claim of Long Term Capital Gain as bogus towards LTCG claimed at Rs.38,00,000/- and Rs.62, 42,000/- for A.Y. 2014-15 & 2015-15 from sale of equity shares of M/s Kailash Auto Finance Ltd (KAFL) & M/s. Lifeline Drugs & Pharma Ltd. (LD& DL) respectively. 10. In the appellate proceedings

ITO, BHADRAK WARD, BHADRAK vs. KISHORE KUMAR MOHAPATRA, BHADRAK

In the result, Appeals of the revenue in in ITANos

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am

exemption u/s 10(38) of the Act, and treating the claim of Long Term Capital Gain as bogus towards LTCG claimed at Rs.38,00,000/- and Rs.62, 42,000/- for A.Y. 2014-15 & 2015-15 from sale of equity shares of M/s Kailash Auto Finance Ltd (KAFL) & M/s. Lifeline Drugs & Pharma Ltd. (LD& DL) respectively. 10. In the appellate proceedings

ITO, BHADRAK WARD , BHADRAK vs. PARBATI MOHAPATRA, BHADRAK

In the result, Appeals of the revenue in in ITANos

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am

exemption u/s 10(38) of the Act, and treating the claim of Long Term Capital Gain as bogus towards LTCG claimed at Rs.38,00,000/- and Rs.62, 42,000/- for A.Y. 2014-15 & 2015-15 from sale of equity shares of M/s Kailash Auto Finance Ltd (KAFL) & M/s. Lifeline Drugs & Pharma Ltd. (LD& DL) respectively. 10. In the appellate proceedings

ITO, BHADRAK WARD, BHADRAK vs. SMT. KUNTALA MOHAPATRA, BHADRAK

In the result, Appeals of the revenue in in ITANos

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am

exemption u/s 10(38) of the Act, and treating the claim of Long Term Capital Gain as bogus towards LTCG claimed at Rs.38,00,000/- and Rs.62, 42,000/- for A.Y. 2014-15 & 2015-15 from sale of equity shares of M/s Kailash Auto Finance Ltd (KAFL) & M/s. Lifeline Drugs & Pharma Ltd. (LD& DL) respectively. 10. In the appellate proceedings

ITO, BHADRAK WARD, BHADRAK vs. MAMATA MOHAPATRA, BHADRAK

In the result, Appeals of the revenue in in ITANos

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am

exemption u/s 10(38) of the Act, and treating the claim of Long Term Capital Gain as bogus towards LTCG claimed at Rs.38,00,000/- and Rs.62, 42,000/- for A.Y. 2014-15 & 2015-15 from sale of equity shares of M/s Kailash Auto Finance Ltd (KAFL) & M/s. Lifeline Drugs & Pharma Ltd. (LD& DL) respectively. 10. In the appellate proceedings

ITO, BHADRAK WARD, BHADRAK vs. AMRUTA PREETAM MOHAPATRA, BHADRAK

In the result, Appeals of the revenue in in ITANos

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am

exemption u/s 10(38) of the Act, and treating the claim of Long Term Capital Gain as bogus towards LTCG claimed at Rs.38,00,000/- and Rs.62, 42,000/- for A.Y. 2014-15 & 2015-15 from sale of equity shares of M/s Kailash Auto Finance Ltd (KAFL) & M/s. Lifeline Drugs & Pharma Ltd. (LD& DL) respectively. 10. In the appellate proceedings

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

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

purchasers. Further, non-service of letters to the buyers or non-compliance of the letters by the buyers does not show that the payment of commission was not genuine when the relative sale was considered genuine and accepted by the department. Further, non- P a g e 21 | 68 Smt. Indrani Patnaik A-6, Commercial Estate, Civil Township, Rourkela furnishing

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

purchasers. Further, non-service of letters to the buyers or non-compliance of the letters by the buyers does not show that the payment of commission was not genuine when the relative sale was considered genuine and accepted by the department. Further, non- P a g e 21 | 68 Smt. Indrani Patnaik A-6, Commercial Estate, Civil Township, Rourkela furnishing

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