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.

section 54F of the Act and that should be upheld. 5. After going through the paper and appeal folders, it was put to ld AR as to from where the funds had come, ld AR gave evasive answer and he was warned that evasive responses would lead to perverse orders. Subsequently, it was clarified that the transaction shows that

M/S.BALLURAM STEELS PVT. LIMITED,ROURKELA vs. PRINCIPAL CIT, CENTRAL CIRCLE, VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri George Mathan & Shri Rajesh Kumarआयकर अपील सं/Ita No.291/Ctk/2025 ("नधा"रण वष" / Assessment Year : 2018-2019) M/S Balluram Steels Pvt. Ltd, Vs Pr.Cit, Central Circle, 1St Floor, Purohit Market Complex Visakhapatnam Main Road, Rourkela-769012 Pan No. :Aaccb 7253 P (अपीलाथ" /Appellant) (""यथ" / Respondent) .. "नधा"रती क" ओर से /Assessee By : Shri P.K.Mishra, Ar राज"व क" ओर से /Revenue By : Shri Ashim Kumar Chakraborty, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 02/12/2025 घोषणा क" तार"ख/Date Of Pronouncement : 02/12/2025 आदेश / O R D E R Per Bench : This Is An Appeal Filed By The Assessee Against The Order Passed By The Ld. Pr.Cit(Central), Visakhapatnam, Dated 28.03.2025 For The Assessment Year 2018-2019. 2. It Was Submitted By The Ld. Ar That In The Course Of Assessment U/S.147 Of The Act, The Ao Had Disbelieved The Transaction Of The Purchase Of Iron Ore & Had Invoked The Provisions Of Section 37(1) Of The Act & Had Made The Disallowance Of Purchases. It Was The Submission That The Ld. Pr.Cit Has Invoked His Powers U/S.263 Of The Act & Had Directed That The Provisions Of Sectiion 37(1) Of The Act Is Not To Be Applied But The Provisions Of Section 69C Of The Act Are To Be Applied. It Was The Submission That The Issue Is Now Squarely Covered By The Decision Of The Coordinate Bench Of The Tribunal In The Case Of Bajrang Steel & Alloys Private Limited, Passed

purchases of iron ore is itself is bogus and as the transaction is bogus the provision of Section 69C is to be invoked. It was submission that vehicles used for the alleged transportation of the Iron ore were not vehicles which could carry the Iron Ore. It was submission that one of the vehicles was the motor cycle

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

In the result, appeal of the assessee is partly allowed

5. Before us, ld. AR of the assessee submitted that during the year the assessee had received advances against the supply of goods from 10 parties totaling to Rs.1,88,71,000/-. It was submitted that in the audited financial statements these amounts were shown under the head 3 “unsecured loans”, however, these are business advances received in the normal

ORISSA CHROME EXPORT & MINING COMPANY PVT. LTD.,BHUBANESWAR vs. ACIT, CIRCLE-1(2), BHUBANESWAR

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 : 2014-15 Orissa Orissa Chrome Chrome Export Export & & Vs. Acit, Circle Acit, Circle-1(2), Mining Company Pvt Ltd., A Mining Company Pvt Ltd., A- Bhubaneswar Bhubaneswar 65/1, 65/1, Nayapali, Nayapali, Bhubaneswar Bhubaneswar Pan/Gir No. Pan/Gir No.Aaaco 4389 B (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri P.R.Mohanty, Ar P.R.Mohanty, Ar Revenue By : Shri Suresh Shivanand Shivanandan, Cit Dr Date Of Hearing : 22/0 02/2023 Date Of Pronouncement : 22/0 /02/2023 O R D E R Per Bench This Is An Appeal Filed By The Assessee Against The Order Of The Ld This Is An Appeal Filed By The Assessee Against The Order Of The Ld This Is An Appeal Filed By The Assessee Against The Order Of The Ld Cit(A) -1, Bhubaneswar, 1, Bhubaneswar, Dated17.9.2019 In Appeal No. In Appeal No.0344/16-17 For The Assessment Year Assessment Year 2014-15. 2. Shri P.R.Mohanty, Ld Ar Appeared For Th Shri P.R.Mohanty, Ld Ar Appeared For The Assessee & Shri S E Assessee & Shri Suresh Shivanandan, Ld Cit Dr Appeared For The Revenue. , Ld Cit Dr Appeared For The Revenue.

purchase to be bogus insofar as the original bills and vouchers were un-dated and were in A4 size paper. Ld AR has placed before us the copy of the said bill, which is placed at page 20 of PB. It was the submission that the bill is dated 30.8.2013, which contain TIN No., Mobile

BAJRANG STEEL & ALLOYS PRIVATE LIMITED,SUNDARGARH vs. PRINCIPAL COMMISSIONER OF INCOME TAX, SAMBALPUR

In the result, appeal of the assessee is allowed

Bench: Shri George Mathan & Shri Rajesh Kumarआयकर अपील सं/Ita No.553/Ctk/2024 (निर्धारण वर्ा / Assessment Year : 2018-2019) Bajrang Steel & Alloys Private Vs Pcit, Sambalpur Limited Plot No:- 31, Kalunga, Near Kalunga High School, Sundergarh, 770031 Pan No. : Aaacm 2123 M (अपीलधर्थी /Appellant) .. (प्रत्यर्थी / Respondent) निर्धाररती की ओर से /Assessee By : Miss Sarmila Agarwal, Ca रधजस्व की ओर से /Revenue By : Shri Ashim Kumar Chakraborty, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 22/09/2025 घोषणा की तारीख/Date Of Pronouncement : 22/09/2025

bogus purchases. It was submission that the Ld. PCIT invoked its power u/s.263 of the Act on the ground that the AO in the show cause notice proposed the addition u/s 69C of the Act but had made the addition u/s. 37(1) of the Act in the course of assessment. The 2 Ld. PCIT issued show cause notice

INDERPAL SINGH CHHABRA,ROURKELA vs. ACIT, ROURKELA

In the result, appeal of the assessee is allowed

Bench: Shri George Mathan & Shri Rajesh Kumarआयकर अपील सं/Ita No.450/Ctk/2024 (नििाारण वर्ा / Assessment Year : 2018-2019) Inderpal Singh Chhabra Vs Acit, Circle Rourkela Prop: Essar Enterprises Daily Market, C/O Crazy Cool, Main Rd, Po/Ps : Rourkela, Dist : Sundargarh Pan No. :Ajlpc 6337 J (अपीलार्थी /Appellant) (प्रत्यर्थी / Respondent) .. नििााररती की ओर से /Assessee By : Shri P.K.Mishra & Shri Baidyanath Behera, Advocates राजस्व की ओर से /Revenue By : Shri Sanjay Kumar, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 08/04/2025 घोषणा की तारीख/Date Of Pronouncement : 08/04/2025 आदेश / O R D E R Per Bench : This Is An Appeal Filed By The Assessee Against The Order Of The Ld Cit(A), Nfac, Delhi Dated 04.09.2024 In Din & Order No.Itba/Nfac/S/250/2024-25/1068345718(1)), For The Assessment Year 2018-19. 2. Shri P.K.Mishra, Advocate Appeared On Behalf Of The Assessee. Shri Sanjay Kumar, Ld Cit Dr Represented On Behalf Of The Revenue. 3. The Assessee Is Engaged In The Transportation Of Coal & Trading In Coals. It Was Submitted By Ld Ar That The Original Return Filed By The Assessee Came To Be Processed U/S.143(3) Of The Act By The Nfac & The Assessment Came To Be Completed On 10.02.2021 Accepting The Returned Income. Ld Ar Drew Our Attention To Page 3 Of The Paper Book

5. Ld AR drew our attention to the reply in para 6, which are the details of month-wise and party-wise sales and purchase along with complete postal addresses. It was the submission that the assessment came to be completed on 10.2.2021 by the NFAC after completing e- verification and due assessment procedure. It was the further submission

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.

purchase and sale of various shares, and this is not an isolated act. The transaction of the assessee is through recognised stock exchange. The shares of CCL International Ltd., has also been sold through Edelweiss Broking Limited( EBL). EBL has not been identified as a broker who is indulging in any of the so called bogus transaction. The facts

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.

purchase and sale of various shares, and this is not an isolated act. The transaction of the assessee is through recognised stock exchange. The shares of CCL International Ltd., has also been sold through Edelweiss Broking Limited( EBL). EBL has not been identified as a broker who is indulging in any of the so called bogus transaction. The facts

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?” 7. Before delving into the issues in question, the provisions contained under Section 10 (38) of the Income Tax Act, 1961 are extracted hereunder:- “Any income arising from the transfer of a long term capital asset, being an equity share in a company or a unit of an equity oriented fund [or a unit of a business trust] where

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

In the result, appeal of the assessee is allowed

5. Having heard learned Senior Standing Counsel for the Department (Appellant) and having perused the impugned orders of the AO, CIT(A) and the ITAT, the Court finds that both the grounds viz., the claim for benefit of Section 10(38) of the Act and denial of an opportunity to cross examine the entry providers, turned on facts. The ITAT

RASHI AGRAWAL,CUTTACKI vs. INCOME TAX OFFICER, CUTTACK

In the result, appeal of the assessee allowed

bogus, sham and nothing other than a racket of accommodation entries. We do notice that the AO made an attempt to delve into the question of infusion of Respondent‟s unaccounted money, but he did not dig deeper. Notices issued under Sections 133(6)/131 of the Act were issued to M/s Gold Line International Finvest Limited, but nothing emerged

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

In the result, appeal of the assessee allowed

bogus, sham and nothing other than a racket of accommodation entries. We do notice that the AO made an attempt to delve into the question of infusion of Respondent’s unaccounted money, but he did not dig deeper. Notices issued under Sections 133(6)/131 of the Act were issued to M/s Gold Line International Finvest Limited, but nothing emerged

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

5. In reply, ld Sr DR drew our attention to the assessment order. Ld Sr DR read out the assessment order and order of the ld CIT(A). It was the submission that the transaction in respect of CCL International Ltd., was a bogus transaction and the Investigation Wing report clearly showed that the transactions were manipulated. When

T R CHEMICALS LIMITED,ODISHA vs. PCIT SAMBALPUR, ODISHA

In the result, appeal of the assessee is allowed

Bench: Shri George Mathan & Shri Rajesh Kumarआयकर अपील सं/Ita No.219/Ctk/2025 (िनधा"रण वष" / Assessment Year : 2018-2019) T R Chemicals Limited, Vs Pr.Cit, Sambalpur Main Road, Subash Chowk, Rajgangpur, Odisha-770017 Pan No. :Aabct 1919 M (अपीलाथ" /Appellant) .. (""थ" / Respondent) िनधा"रती की ओर से /Assessee By : Shri K.K.Bajoria & Shri Yogesh Banka, Ars राज" की ओर से /Revenue By : Shri Vijay Singh, Sr. Dr सुनवाई की तारीख / Date Of Hearing : 01/12/2025 घोषणा की तारीख/Date Of Pronouncement : 01/12/2025 आदेश / O R D E R Per Bench : This Is An Appeal Filed By The Assessee Against The Order Passed By The Ld. Pr.Cit, Sambalpur, Dated 15.01.2025 For The Assessment Year 2018-2019. 2. It Was Submitted By The Ld. Ar That The Return Filed By The Assessee Came To Be Processed & The Assessment Came To Be Completed U/S.147 Of The Act Wherein The Purchases From M/S Mideast Integrated Steel Ltd. Were Disallowed By Invoking The Provisions Of Section 37(1) Of The Act. It Was The Submission That The Ld. Pr.Cit Invoked His Power U/S.263 Of The Act On The Ground That The Disallowances Made By The Ao U/S.37(1) Of The Act Instead Of Section 69C Of The Act, Is Erroneous & Prejudicial To The Interest Of Revenue. It Was Submitted That The Issue Is Now Squarely Covered By The Decision Of The Coordinate Bench Of The Tribunal In The Case Of Bajrang Steel & Alloys (P) Ltd., Passed In Ita No.553/Ctk/2024, Order Dated

purchases from M/s Mideast Integrated Steel Ltd. were disallowed by invoking the provisions of Section 37(1) of the Act. It was the submission that the ld. Pr.CIT invoked his power u/s.263 of the Act on the ground that the disallowances made by the AO u/s.37(1) of the Act instead of Section 69C of the Act, is erroneous

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

purchase of shares at such a high premium. The present case is on a similar footing since the amount of loan involved is Rs.1.05 crores and Kedarnath Tie Up Pvt. Ltd. had shown income of Rs.8,61,950/- in its return of income for A.Y. 2018-19. 13. It was held by the Hon'ble Gujarat High Court

B.C. BHUYAN CONSTRUCTION PVT. LTD.,BHUBANESWAR vs. DCIT, CORPORATE CIRCLE- 1(1), BHUBANESWAR

In the result, appeal of the assessee stands partly allowed for statistical purposes

Bench: Before S/Shri George Mathan, Judicial & Girish Agrawalwalassessment Year : 2014-15 B.C.Bhuyan Construction Pvt B.C.Bhuyan Construction Pvt Vs. Dcit, Corporate Circle Dcit, Corporate Circle - Ltd., Plot No.90, Palasuni, Ltd., Plot No.90, Palasuni, 1(1), Rasulgarh, Bhubaneswar Rasulgarh, Bhubaneswar Bhubaneswar Bhubaneswar Pan/Gir No. Pan/Gir No.Aadcb 3304 N (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri P.C.Sethi, Adv Revenue By Revenue By : Shri Saroj Kumar Mahapatra, Saroj Kumar Mahapatra, Pr. Cit Dr Date Of Hearing : 20/07 7/2023 Date Of Pronouncement : 20/0 /07/2023

5,000, the assessee is entitled to claim 100 per cent depreciation as per the proviso to section 32(1)(ii) of the Act.” 8. In these circumstances, following the principles laid down by the Hon’ble A.P. High Court in the case of S.Vijaya Kumar (supra) and also the decision of the Hon’ble Madras High Court

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

In the result, both appeals of the assessee are allowed

purchased during the year 2013-2014 and had also accepted the short term capital gains for the assessment year 2014-2015. It was only in respect of 1 lakh shares sold by the assessee in the assessment year 2013-2014 and 25000 shares sold for the assessment year 2014-2015 that the AO treated the transaction as bogus transaction

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

In the result, both appeals of the assessee are allowed

purchased during the year 2013-2014 and had also accepted the short term capital gains for the assessment year 2014-2015. It was only in respect of 1 lakh shares sold by the assessee in the assessment year 2013-2014 and 25000 shares sold for the assessment year 2014-2015 that the AO treated the transaction as bogus transaction

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

5. Since all the appeals are related to the penalty levied u/s.271D & 271E of the Act in contravention to the provisions of Section 269SS & 269T of the Act and the facts in all the three years are common as there were documents found as a result of search in the case of the assessee group indicating certain transactions in cash