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15 results for “bogus purchases”+ Section 127(2)clear

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Key Topics

Section 10(38)16Capital Gains14Long Term Capital Gains14Exemption14Penny Stock12Section 153A4Addition to Income3

M/S. BAJRANGBALI STEEL INDUSTRIES PVT. LTD,ROURKLA vs. ACIT, CENTRAL CIRCLE, SAMBALPUR

In the result, appeals of the assessee in IT(SS)A No

ITA 109/CTK/2022[2020-21]Status: DisposedITAT Cuttack28 Mar 2023AY 2020-21

Bench: Shri George Mathan & Shri Arun Khodpiaआयकर अऩीऱ (तऱाशियाां और अशिग्रहण)/It(Ss)A Nos.31 To 33/Ctk/2022 (ननधाारण वषा / Assessment Year : 2016-2017 To 2018-2019) M/S Bee Pee Rollers Pvt. Ltd., Vs Acit, Central Circle, Sambalpur Lal Building, Kachery Road, Rourkela, Sundergarh, Odisha-769012 Pan No. :Aabcb 3593 P & आयकर अऩीऱ (तऱाशियाां और अशिग्रहण)/It(Ss)A Nos.34 To 39/Ctk/2022 & आयकर अऩीऱ/Ita No.109/Ctk/2022 (ननधाारण वषा / Assessment Year : 2014-2017 To 2020-2021) M/S Bajrangbali Steel Industries Pvt. Vs Acit, Central Circle, Sambalpur Ltd., Lal Building, Kachery Road, Rourkela, Sundergarh, Odisha-769012 Pan No. :Aabcb 3594 L & आयकर अऩीऱ (तऱाशियाां और अशिग्रहण)/It(Ss)A Nos.40 To 44/Ctk/2022 (ननधाारण वषा / Assessment Year : 2014-2015 To 2018-2019) M/S Bajrangbali Re-Rollers Pvt. Ltd. Vs Acit, Central Circle, Sambalpur Lal Building, Kachery Road, Rourkela, Sundergarh, Odisha-769012 Pan No. :Aaccb 6678 A (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri S.K.Tulsiyan, Advocate With Shri B.K. Tibrewal, Ca & Ms. Nisha Rachh, Ca Shri M.K.Gautam, Pr.Cit(Osd) राजस्व की ओर से /Revenue By : सुनवाई की तारीख / Date Of Hearing : 28/03/2023 घोषणा की तारीख/Date Of Pronouncement : 28/03/2023

For Appellant: Shri S.K.Tulsiyan, Advocate with Shri
Section 133ASection 153ASection 292CSection 69
Section 69C

Section 142(2) of the Act it was for the AO to make such enquiries as he considered necessary for the purpose of obtaining the full information in respect of the income or loss in respect of the assessee. It was the submission that no enquiry has been done by the AO but the AO only relied upon the appraisal

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

In the result, Appeals of the revenue in in ITANos

ITA 38/CTK/2020[2014-15]Status: DisposedITAT Cuttack21 Dec 2021AY 2014-15

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

For Appellant: Shri S.C Mohanty, Sr. DR
Section 10(38)

127 taxman.com 245 (Guj.), have held that, Assessee an employee of a bank, opted for scheme of early voluntary retirement as declared by bank and received a sum of certain amount - He filed his return of income without claiming benefit of exemption under section 10(10C) on said amount- Same was processed under section 143(3) and an Assessment order

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

In the result, Appeals of the revenue in in ITANos

ITA 40/CTK/2020[2014-15]Status: DisposedITAT Cuttack21 Dec 2021AY 2014-15

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

For Appellant: Shri S.C Mohanty, Sr. DR
Section 10(38)

127 taxman.com 245 (Guj.), have held that, Assessee an employee of a bank, opted for scheme of early voluntary retirement as declared by bank and received a sum of certain amount - He filed his return of income without claiming benefit of exemption under section 10(10C) on said amount- Same was processed under section 143(3) and an Assessment order

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

In the result, Appeals of the revenue in in ITANos

ITA 41/CTK/2020[2015-16]Status: DisposedITAT Cuttack21 Dec 2021AY 2015-16

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

For Appellant: Shri S.C Mohanty, Sr. DR
Section 10(38)

127 taxman.com 245 (Guj.), have held that, Assessee an employee of a bank, opted for scheme of early voluntary retirement as declared by bank and received a sum of certain amount - He filed his return of income without claiming benefit of exemption under section 10(10C) on said amount- Same was processed under section 143(3) and an Assessment order

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

In the result, Appeals of the revenue in in ITANos

ITA 42/CTK/2020[2014-15]Status: DisposedITAT Cuttack21 Dec 2021AY 2014-15

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

For Appellant: Shri S.C Mohanty, Sr. DR
Section 10(38)

127 taxman.com 245 (Guj.), have held that, Assessee an employee of a bank, opted for scheme of early voluntary retirement as declared by bank and received a sum of certain amount - He filed his return of income without claiming benefit of exemption under section 10(10C) on said amount- Same was processed under section 143(3) and an Assessment order

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

In the result, Appeals of the revenue in in ITANos

ITA 43/CTK/2020[2015-16]Status: DisposedITAT Cuttack21 Dec 2021AY 2015-16

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

For Appellant: Shri S.C Mohanty, Sr. DR
Section 10(38)

127 taxman.com 245 (Guj.), have held that, Assessee an employee of a bank, opted for scheme of early voluntary retirement as declared by bank and received a sum of certain amount - He filed his return of income without claiming benefit of exemption under section 10(10C) on said amount- Same was processed under section 143(3) and an Assessment order

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

In the result, Appeals of the revenue in in ITANos

ITA 44/CTK/2020[2014-15]Status: DisposedITAT Cuttack21 Dec 2021AY 2014-15

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

For Appellant: Shri S.C Mohanty, Sr. DR
Section 10(38)

127 taxman.com 245 (Guj.), have held that, Assessee an employee of a bank, opted for scheme of early voluntary retirement as declared by bank and received a sum of certain amount - He filed his return of income without claiming benefit of exemption under section 10(10C) on said amount- Same was processed under section 143(3) and an Assessment order

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

In the result, Appeals of the revenue in in ITANos

ITA 45/CTK/2020[2015-16]Status: DisposedITAT Cuttack21 Dec 2021AY 2015-16

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

For Appellant: Shri S.C Mohanty, Sr. DR
Section 10(38)

127 taxman.com 245 (Guj.), have held that, Assessee an employee of a bank, opted for scheme of early voluntary retirement as declared by bank and received a sum of certain amount - He filed his return of income without claiming benefit of exemption under section 10(10C) on said amount- Same was processed under section 143(3) and an Assessment order

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

In the result, Appeals of the revenue in in ITANos

ITA 49/CTK/2020[2014-15]Status: DisposedITAT Cuttack17 Dec 2021AY 2014-15

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

For Appellant: Shri S.C Mohanty, Sr. DR
Section 10(38)

127 taxman.com 245 (Guj.), have held that, Assessee an employee of a bank, opted for scheme of early voluntary retirement as declared by bank and received a sum of certain amount - He filed his return of income without claiming benefit of exemption under section 10(10C) on said amount- Same was processed under section 143(3) and an Assessment order

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

In the result, Appeals of the revenue in in ITANos

ITA 47/CTK/2020[2014-15]Status: DisposedITAT Cuttack17 Dec 2021AY 2014-15

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

For Appellant: Shri S.C Mohanty, Sr. DR
Section 10(38)

127 taxman.com 245 (Guj.), have held that, Assessee an employee of a bank, opted for scheme of early voluntary retirement as declared by bank and received a sum of certain amount - He filed his return of income without claiming benefit of exemption under section 10(10C) on said amount- Same was processed under section 143(3) and an Assessment order

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

In the result, Appeals of the revenue in in ITANos

ITA 48/CTK/2020[2014-15]Status: DisposedITAT Cuttack17 Dec 2021AY 2014-15

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

For Appellant: Shri S.C Mohanty, Sr. DR
Section 10(38)

127 taxman.com 245 (Guj.), have held that, Assessee an employee of a bank, opted for scheme of early voluntary retirement as declared by bank and received a sum of certain amount - He filed his return of income without claiming benefit of exemption under section 10(10C) on said amount- Same was processed under section 143(3) and an Assessment order

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

In the result, Appeals of the revenue in in ITANos

ITA 46/CTK/2020[2014-15]Status: DisposedITAT Cuttack17 Dec 2021AY 2014-15

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

For Appellant: Shri S.C Mohanty, Sr. DR
Section 10(38)

127 taxman.com 245 (Guj.), have held that, Assessee an employee of a bank, opted for scheme of early voluntary retirement as declared by bank and received a sum of certain amount - He filed his return of income without claiming benefit of exemption under section 10(10C) on said amount- Same was processed under section 143(3) and an Assessment order

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

In the result, Appeals of the revenue in in ITANos

ITA 50/CTK/2020[2014-15]Status: DisposedITAT Cuttack17 Dec 2021AY 2014-15

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

For Appellant: Shri S.C Mohanty, Sr. DR
Section 10(38)

127 taxman.com 245 (Guj.), have held that, Assessee an employee of a bank, opted for scheme of early voluntary retirement as declared by bank and received a sum of certain amount - He filed his return of income without claiming benefit of exemption under section 10(10C) on said amount- Same was processed under section 143(3) and an Assessment order

RASHI AGRAWAL,CUTTACKI vs. INCOME TAX OFFICER, CUTTACK

In the result, appeal of the assessee allowed

ITA 56/CTK/2023[2014-15]Status: HeardITAT Cuttack04 May 2023AY 2014-15
For Appellant: Shri Keshav Dubey, CAFor Respondent: Shri S.C.Mohanty, Sr. DR
Section 10(38)

2. It was submitted by the ld. AR that the assessee is an individual, who is deriving income from capital gains from purchase and sale of shares. It was the submission that the assessee has purchased 1 lakh shares of M/s Panchshul Marketing Ltd. on 29.03.2012 @Rs.1/- per share. It was the submission that in view of the decision

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

In the result, appeal of the assessee allowed

ITA 76/CTK/2023[2014-15]Status: DisposedITAT Cuttack18 May 2023AY 2014-15
For Appellant: Shri Keshav Dubey, CAFor Respondent: Shri Kishore Ch. Mohanty, Sr. DR
Section 10(38)

2. It was submitted by the ld. AR that the assessee is an individual, who is deriving income from capital gains from purchase and sale of shares. It was the submission that the assessee has purchased 1 lakh shares of M/s Panchshul Marketing Ltd. on 29.03.2012 @Rs.1/- per share. It was the submission that in view of the decision