TRIJAL ENTERPRISES,BHUBANESWAR vs. ACIT, CIRCLE- 4(1), BHUBANESWAR

Bench: S/Shri George Mathan & Arun Khodpiaassessment Year : 2016-17 Trijal Enterprises, Hall No.6, Vs. Acit, Circle-4(1), Fourth Floor, Bmc Bhawani Bhubaneswar Coom. Complex, Saheed Nagar, Bhubaneswar. Pan/Gir No.Aakft 6687 L (Appellant) .. ( Respondent) Assessee By : Shri P.K.Mishra,Ca P.K.Panda, Ars Revenue By : Shri M.K.Gautam, Cit Dr Date Of Hearing : 15/11/2022 Date Of Pronouncement : 15/11/2022 O R D E R Per Bench This Is An Appeal Filed By The Assessee Against The Order Of The Ld Cit(A)-1, Bhubaneswar Dated 22.6.2020 In Appeal No.0366/2018-19 For The Assessment Year 2016-17. 2. It Was Submitted By Ld Ar That The Assessee Is A Partnership Firm. The Partnership Firm Was Originally Constituted By Partnership Deed Dated 1.11.2015, Wherein, There Were Two Partners Namely; Shri Rajesh Polaki & Sri Malchit Chetan Kumar Patra. The Said Partnership Did Not Do Any Business. The Partnership Was Constituted For The Purpose Of Doing The Business Of Gold Jewellery. The Partnership Was Reconstituted On 1.3.2016, P A G E 1 | 37 Assessment Year : 2016-17

purchased shares worth Rs.25,00,000/- and Rs.3,22,00,000/- respectively from Tribhuvan Tradecom Private Limited were not found on the website of MCA. Thus receipts to the extent of Rs.3,47,00,000/- in the hands of Tribhuvan Tradecom Private Limited have remained unexplained. c) The A.O. also reported to the CIT(A) that Tribhuvan Tradecom Private Limited

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

undisclosed income to tax free income. Ground No.4: On the facts and in the circumstances of the case, the Ld CIT(A), Cuttack was not justified in allowing the claim of the assessee regarding Long Term Capital Gains (L TCG) on sales of shares on the specious ground that the assessee was not qranted an opportunity to cross-examine

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

undisclosed income to tax free income. Ground No.4: On the facts and in the circumstances of the case, the Ld CIT(A), Cuttack was not justified in allowing the claim of the assessee regarding Long Term Capital Gains (L TCG) on sales of shares on the specious ground that the assessee was not qranted an opportunity to cross-examine

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

undisclosed income to tax free income. Ground No.4: On the facts and in the circumstances of the case, the Ld CIT(A), Cuttack was not justified in allowing the claim of the assessee regarding Long Term Capital Gains (L TCG) on sales of shares on the specious ground that the assessee was not qranted an opportunity to cross-examine

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

undisclosed income to tax free income. Ground No.4: On the facts and in the circumstances of the case, the Ld CIT(A), Cuttack was not justified in allowing the claim of the assessee regarding Long Term Capital Gains (L TCG) on sales of shares on the specious ground that the assessee was not qranted an opportunity to cross-examine

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

undisclosed income to tax free income. Ground No.4: On the facts and in the circumstances of the case, the Ld CIT(A), Cuttack was not justified in allowing the claim of the assessee regarding Long Term Capital Gains (L TCG) on sales of shares on the specious ground that the assessee was not qranted an opportunity to cross-examine

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

undisclosed income to tax free income. Ground No.4: On the facts and in the circumstances of the case, the Ld CIT(A), Cuttack was not justified in allowing the claim of the assessee regarding Long Term Capital Gains (L TCG) on sales of shares on the specious ground that the assessee was not qranted an opportunity to cross-examine

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

undisclosed income to tax free income. Ground No.4: On the facts and in the circumstances of the case, the Ld CIT(A), Cuttack was not justified in allowing the claim of the assessee regarding Long Term Capital Gains (L TCG) on sales of shares on the specious ground that the assessee was not qranted an opportunity to cross-examine

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

undisclosed income to tax free income. Ground No.4: On the facts and in the circumstances of the case, the Ld CIT(A), Cuttack was not justified in allowing the claim of the assessee regarding Long Term Capital Gains (L TCG) on sales of shares on the specious ground that the assessee was not qranted an opportunity to cross-examine

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

undisclosed income to tax free income. Ground No.4: On the facts and in the circumstances of the case, the Ld CIT(A), Cuttack was not justified in allowing the claim of the assessee regarding Long Term Capital Gains (L TCG) on sales of shares on the specious ground that the assessee was not qranted an opportunity to cross-examine

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

undisclosed income to tax free income. Ground No.4: On the facts and in the circumstances of the case, the Ld CIT(A), Cuttack was not justified in allowing the claim of the assessee regarding Long Term Capital Gains (L TCG) on sales of shares on the specious ground that the assessee was not qranted an opportunity to cross-examine

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

undisclosed income to tax free income. Ground No.4: On the facts and in the circumstances of the case, the Ld CIT(A), Cuttack was not justified in allowing the claim of the assessee regarding Long Term Capital Gains (L TCG) on sales of shares on the specious ground that the assessee was not qranted an opportunity to cross-examine

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

undisclosed income to tax free income. Ground No.4: On the facts and in the circumstances of the case, the Ld CIT(A), Cuttack was not justified in allowing the claim of the assessee regarding Long Term Capital Gains (L TCG) on sales of shares on the specious ground that the assessee was not qranted an opportunity to cross-examine

DCIT, CORPORATE CIRCLE-1(1), BHUBANESWAR vs. M/S. MAGNUM ESTATE LTD., BHUBANESWAR

In the result, appeal of the revenue and cross objection of the assessee are dismissed

Bench: S/ S/Shri Chandra Mohan Garg, Judicial & Manish Borad & Manish Borad & Manish Boradassessment Year : 2012-13 Dcit, Corporate Circle 1(1), Dcit, Corporate Circle 1(1), Vs. M/S. Magnum Estate Ltd., 132 M/S. Magnum Estate Ltd., 132- Bhubaneswar. Bhubaneswar. A, A, Sector Sector-A, Zone-A, Mancheswar Industrial Estate, Mancheswar Industrial Estate, Bhubaneswar Bhubaneswar Pan/Gir No. No.Aabcm 8066 G (Appellant (Appellant) .. ( Respondent Respondent) C.O.No.21/Ctk/2021 (In Ita No.248/Ctk/2017) .248/Ctk/2017) Assessment Year : 2012-13 M/S. Magnum Estate Ltd., 132 M/S. Magnum Estate Ltd., 132- Vs. Dcit, Corporate Circle 1(1), Dcit, Corporate Circle 1(1), A, A, Sector Sector-A, Zone-A, Bhubaneswar. Bhubaneswar. Mancheswar Industrial Estate, Mancheswar Industrial Estate, Bhubaneswar. Bhubaneswar. Pan/Gir No. Pan/Gir No.Aabcm 8066 G (Appellant (Appellant) .. ( Respondent Respondent) Assessee Assessee/Cross Objector By : Shri J.M.Patnaik J.M.Patnaik , Ar Revenue By : Shri M.K.Gautam, Cit (Dr) Date Of Hearing : 27 /10/ 20 / 2021 Date Of Pronouncement : 23/12 12/2021 O R D E R Per Bench This Is An Appeal Filed By The This Is An Appeal Filed By The Revenue & Cross Objection Of The & Cross Objection Of The Assessee Against The Order Of The Cit(A),1, Bhubaneswar Against The Order Of The Cit(A),1, Bhubaneswar Against The Order Of The Cit(A),1, Bhubaneswar Dated 7.3.2017 For The Assessment Year For The Assessment Year 2012-13. P A G E 1 | 10 C.O.No.21/Ctk/2021 Assessment Year : 2012-13

undisclosed income but later on before the AO, the assessee alleged that surrendered amounts were not voluntary and bonafide and in absence of any evidence or material in relation to surrender, surrender made during survey was also retracted. The Hon’ble High Court has decided the issue in favour of the revenue. 8. Ld CIT DR also relied

M/S. BAJRANGBALI RE-ROLLES PVT. LTD,ROURKELA vs. ACIT, CENTRAL CIRCLE, SAMBALPUR

In the result, appeal of the assessee stands allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaassessment Year : 2020-2021 2021 M/S. Bajrangbali Re M/S. Bajrangbali Re-Rollers Vs. Acit, Acit, Central Central Circle, Circle, Pvt Pvt Ltd., Ltd., Lal Lal Building, Building, Sambalpur Sambalpur Kachery Road, Rourkela. Kachery Road, Rourkela. Pan/Gir No. Pan/Gir No.Aaccb 6678 A (Appellant (Appellant) .. ( Respondent Respondent) Assessee By Assessee By : Shri S.K.Tulsiyan, Ms Nisha Rachh & B.K.Tibrewal, Nisha Rachh & B.K.Tibrewal, Ars Revenue By : Shri M.K.Gautam, Pr. Cit (Osd) Pr. Cit (Osd) Date Of Hearing : 28 /0 03/2023 Date Of Pronouncement : 28 /0 /03/2023

bogus purchases and sales in the relevant assessment year. It was the submission that in the absence of such corroborative evidence, no addition was called for. 7. In reply, ld Pr. CIT(OSD) vehemently supported the order of the ld CIT(A) and the AO. It was the submission that the assessee should have compelled the Investigation Wing

DCIT, CORPORATE CIRCLE-1(1), BHUBANESWAR vs. M/S. MAGNUM DREAM HOMES PVT. LTD., BHUBANESWAR

In the result, appeal of the revenue and cross objection of the assessee are dismissed

Bench: S/ S/Shri Chandra Mohan Garg, Judicial & Manish Borad & Manish Borad & Manish Boradassessment Year : 2012-13 Dcit, Corporate Circle Dcit, Corporate Circle -1(1), Vs. M/S. Magnum Dream Homes Pvt M/S. Magnum Dream Homes Pvt Bhubaneswar Bhubaneswar Ltd., 132-A, Sector A, Sector-A, Zone-A, Mancheswar Industrial Estate, Mancheswar Industrial Estate, Bhubaneswar. Bhubaneswar. Pan/Gir No. No.Aadcm 2929 A (Appellant (Appellant) .. ( Respondent Respondent) C.O.No.20/Ctk/2021 (Arising Out Of Ita No.249/Ctk/2017) Out Of Ita No.249/Ctk/2017) Assessment Year: 2012-13 13 M/S. Magnum Dream Homes Pvt M/S. Magnum Dream Homes Pvt Vs. Dcit, Corporate Circle Dcit, Corporate Circle -1(1), Ltd., 132-A, Sector A, Sector-A, Zone-A, Bhubaneswar Bhubaneswar Mancheswar Industrial Estate, Mancheswar Industrial Estate, Bhubaneswar. Bhubaneswar. Pan/Gir No. Pan/Gir No.Aadcm 2929 A (Appellant (Appellant) .. ( Respondent Respondent) Assessee/Cross Objector By : Shri J.M.Patnaik J.M.Patnaik , Ar Revenue By : Shri M.K.Gautam, Cit (Dr) Date Of Hearing : 26 /10/ 20 / 2021 Date Of Pronouncement : 23 /12 12/2021 O R D E R Per Bench This Is An Appeal Filed By The This Is An Appeal Filed By The Revenue & Cross Objection Of The Revenue & Cross Objection Of The Assessee Against The Order Of The Cit(A),1, Bhubaneswar Assessee Against The Order Of The Cit(A),1, Bhubaneswar Assessee Against The Order Of The Cit(A),1, Bhubaneswar Dated 7.3.2017 For The Assessment Year For The Assessment Year 2012-13. P A G E 1 | 10 C.O.No.20/Ctk/2021 Assessment Year : 2012-13

bogus work in progress of Rs.2,52,00,000/-) to the income of the assessee. P a g e 2 | 10 C.O.No.20/CTK/2021 Assessment Year : 2012-13 4. In first appeal, the addition made by the AO was deleted. Hence, the revenue has filed appeal before the Tribunal. 5. Ld CIT DR supporting the assessment order submitted that during

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

In the result, appeal of the assessee is allowed

undisclosed income of the assessee however, ld CIT(A) has held the LTCG from the sale of shares of M/S Appu Marketing Manufacturing Limited as bogus and deleted the remaining addition. The Ld.AR submits that the AO while making additions has also referred assessee's own case for A.Y. 2015-16 where the LTCG from the sales of shares

M/S. EXIM INDIA OIL COMPANY LTD,CUTTACK vs. DCIT, CUTTACK

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 : 1998-99 M/S. Exim India Oil Company M/S. Exim India Oil Company Vs. Dcit, Circle Dcit, Circle-1(1), Ltd., At:N.H-5, Tiberwal Nagar, 5, Tiberwal Nagar, Cuttack Jagatpur, Cuttack Jagatpur, Cuttack Pan/Gir No. No.Aaace 3929 K (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri B.K. Tiberwal Tiberwal, Md Revenue By : Shri M.K.Gautam, Cit ( Cit (Dr) Date Of Hearing : 8/6/ 20 / 2022 Date Of Pronouncement : 8 /6 6/2022 O R D E R

Income Tax assessee and having their respective Permanent Account Numbers. The share holders have duly confirmed that they have invested their money in purchasing shares by swearing Affidavits. But the authorities below without examining the veracity of the evidences and its genuineness, has given the aforesaid finding which is not proper for the reason that

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

purchase of materials and payment to bank, when the payment is overdue RKDCPL, which carrying out Road work in remote localities, needs cash sometime urgently to send its work sites Reference may be made to the voucher (Ref page no 64 of the Paper Book) of RKDCPL where it is mentioned that on 16.09.10, the RKDCPL paid