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

In the result, both appeals of the assessee are allowed

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 2014-2015. This being so, we are of the view that the assessee is entitled to the deduction u/s.10

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

In the result, both appeals of the assessee are allowed

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 2014-2015. This being so, we are of the view that the assessee is entitled to the deduction u/s.10

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

set off of the loss as otherwise the loss would have eaten into the capital of the assessee. It was the submission that under similar circumstances, the Co-ordinate Bench of this Tribunal in the case of Bimal Devi Singhania (023) 146 taxmann.com 449 (Cuttack.Trib.) dated July 6,022 has deleted the addition made therein and same has already been

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

setting aside assessment u/s.263 was to be upheld. The observations of the Hon'ble High Court are reproduced as under: "11. When payment by cheque does not establish the creditworthiness of the lender, mere examination of the pass-book or the bank statement or the letter of confirmation or the balance sheet of the lender is also not enough

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 securities that are listed on the recognized stock exchanges in India. The STT was implemented to curb the tax avoidance on capital gains, which is similar to Tax Collected at Source (TCS) to be collected by a recognized stock exchange and both the buyer and seller will pay the said tax, as prescribed rate for carrying

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 securities that are listed on the recognized stock exchanges in India. The STT was implemented to curb the tax avoidance on capital gains, which is similar to Tax Collected at Source (TCS) to be collected by a recognized stock exchange and both the buyer and seller will pay the said tax, as prescribed rate for carrying

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

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 2014-2015. This being so, we are of the view that the assessee is entitled to the deduction u/s.10

RASHI AGRAWAL,CUTTACKI vs. INCOME TAX OFFICER, CUTTACK

In the result, appeal of the assessee allowed

set-aside the orders of the lower authorities qua treating the transaction of purchase/sale of shares of JMD Telefilms Industries Ltd. by the assessee as a bogus transaction and, consequently vacate the addition made by the A.O under Sec. 68 of Rs. 6,06,49,780/-. The Grounds of appeal Nos. 2 & 3 are allowed in terms of our aforesaid

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

set of shuttering sheets would get cycled once in 45 to 60 days. It was the submission that thus the shuttering sheets would be used 4-5 times in a year and consequently, the shuttering sheets would last 8 to 10 years. It was the submission that as the shuttering sheets are plant

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

losses of the respondent society in the working year; thereafter in the repayment of initial loan from the Industrial Finance Corporation of India and then for redeeming the Government share and only in the event of any balance being left, it was liable to be converted to share capital. The primary purpose for which the deposits were liable

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

losses of the respondent society in the working year; thereafter in the repayment of initial loan from the Industrial Finance Corporation of India and then for redeeming the Government share and only in the event of any balance being left, it was liable to be converted to share capital. The primary purpose for which the deposits were liable