SATISH KUMAR GARG,ROURKELA vs. ITO WARD-5, ROURKELA
In the result, appeal of assessee stands allowed
ITA 223/CTK/2023[2014-15]Status: DisposedITAT Cuttack25 Sept 2024AY 2014-15
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.
For Appellant: Shri P.R.Mohanty, AdvFor Respondent: Shri S.C.Mohanty, ld Sr DR
Section 10(38)
b) of Section 10 (38) of the Income Tax Act, 1961
(Circular No.5/2005 dated 15.07.2005).
13. Mr. T.K. Satapathy, learned Senior Standing Counsel appearing for the Income Tax Department laid emphasis on the CBDT Circular No.23 of 2019
dated 06.09.2019, as the matter related to bogus Long Term Capital Gain on Penny stock. But the said circular can only
