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

deduction the cost price of Rs.50,000/- and other expenses including STT the Net Long Term Capital Gains was computed

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

deduction the cost price of Rs.50,000/- and other expenses including STT the Net Long Term Capital Gains was computed

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

deduction the cost price of Rs.50,000/- and other expenses including STT the Net Long Term Capital Gains was computed

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

deduction the cost price of Rs.50,000/- and other expenses including STT the Net Long Term Capital Gains was computed

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

deduction the cost price of Rs.50,000/- and other expenses including STT the Net Long Term Capital Gains was computed

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

deduction the cost price of Rs.50,000/- and other expenses including STT the Net Long Term Capital Gains was computed

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

deduction the cost price of Rs.50,000/- and other expenses including STT the Net Long Term Capital Gains was computed

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

deduction the cost price of Rs.50,000/- and other expenses including STT the Net Long Term Capital Gains was computed

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

deduction the cost price of Rs.50,000/- and other expenses including STT the Net Long Term Capital Gains was computed

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

deduction the cost price of Rs.50,000/- and other expenses including STT the Net Long Term Capital Gains was computed

DCIT, CORPORATE CIRCLE-1(2), BHUBANESWAR vs. M/S. NATIONAL ALUMINIUM COMPANY LIMITED, BHUBANESWAR

In the result, appeal of the assessee i

Bench: Shri N.S.Saini, Am & Shri Pavan Kumar Gadale, Jm आयकर अऩीऱ सं./Ita No.339 & 340/Ctk/2016 Dcit, Corporate Circle1(2)/ Vs. National Aluminium Company Acit, Circle-2(2), Limited, Bhubaneswar Nalco Bhavan, P/1, Nayapalli, Bhubaneswar स्थायी लेखा सं./ जीआइआर सं./ Pan/Gir No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & आयकर अऩीऱ सं./Ita No.352 & 353/Ctk/2016 & Ita No.374/Ctk/2014 (नििाारण वषा / Assessment Year :2010-11, 2012-13 & 2011-12) National Aluminium Company Vs. Jcit Range-2/ Limited, Acit, Corporate Circle-1(2) Nalco Bhavan, P/1, Nayapalli, Bhubaneswar Bhubaneswar स्थायी लेखा सं./ जीआइआर सं./ Pan/Gir No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & Cross Objection No.01/Ctk/2015 & 25/Ctk/2016 (Arising Out Of Ita Nos.376/Ctk/14 & Ita No.340/Ctk/2016) (नििाारण वषा / Assessment Year :2011-2012 & 2012-2013) National Aluminium Company Vs. Acit, Circle-2(2)/ Limited, Dcit, Corporate Circle- Nalco Bhavan, P/1, Nayapalli, 1(2), Bhubaneswar Bhubaneswar स्थायी लेखा सं./ जीआइआर सं./ Pan/Gir No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

Capital Gains of Rs. 1,89,869/-, as 'Business income' by the learned AO is unjustified, arbitrary, contrary to facts, erroneous and bad in law. 12. Levy of Interest o/s. 234A, 234B, 234C and 234D of the Act - Rs. 1,53,56,380/-, Rs. 53,74,73,300, Rs. 4,09,11,235/- and Rs. 68,90,718/- respectively

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

In the result, appeal of the assessee is allowed

capital gains arising out of sale of shares and has been claimed as exemption u/s. 10(38)). The difference of opinion for each shares by the CIT(A) is not understandable and also unjustified. In addition to above, copy of the CIT(A) Order and Hon'ble Jurisdictional ITAT Order for the Asst. Year-2015-16 was furnished before

RASHI AGRAWAL,CUTTACKI vs. INCOME TAX OFFICER, CUTTACK

In the result, appeal of the assessee allowed

Capital Gain from sale of equity shares of M/s Sunrise Asian Limited claimed to be exempt u/s 10(38) of the Act and decided in favour of the assessee observing as follows:- “23. In the aforesaid decision, it has been held that it is SEBI who monitors and regulates the stock exchanges & stock market and when their investigation

NATIONAL ALUMINIUM COMPANY LIMITED,BHUBANESWAR vs. ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR

In the result, appeal of the assessee i

Bench: Shri N.S.Saini, Am & Shri Pavan Kumar Gadale, Jm आयकर अपील सं./Ita No.197/Ctk/2017 ("नधा"रण वष" / Assessment Year :2013-2014) Asst.Cit, Corporate Circle- Vs. National Aluminium Company 1(2), Bhubaneswar Limited, Nalco Bhawan, P/1, Nayapalli, Bhubaneswar "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacn 7449 M (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita No.211/Ctk/2017 ("नधा"रण वष" / Assessment Year :2013-2014) National Aluminium Company Vs. Asst.Cit, Corporate Circle- Limited, 1(2), Bhubaneswar Nalco Bhavan, P/1, Nayapalli, Bhubaneswar "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacn 7449 M (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & Cross Objection No.10/Ctk/2017 (Arising Out Of Ita No.197/Ctk/2017) ("नधा"रण वष" / Assessment Year :2013-2014) National Aluminium Company Vs. Asst.Cit, Corporate Circle- Limited, 1(2), Bhubaneswar Nalco Bhavan, P/1, Nayapalli, Bhubaneswar "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacn 7449 M (अपीलाथ" /Appellant) (""यथ" / Respondent) .. "नधा"रती क" ओर से /Assessee By : Shri B.K.Mahapatra,Ca राज"व क" ओर से /Revenue By : Shri Saad Kidwai, Citdr सुनवाई क" तार"ख / Date Of Hearing : 27/06/2018 घोषणा क" तार"ख/Date Of Pronouncement 29/06/2018 आदेश / O R D E R Per Shri Pavan Kumar Gadale, Jm: These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objection By The Assessee, Against The Order Of The Cit(A)-1, Co No.10/Ctk/2018 Bhubaneswar, Passed In It Appeal No.0511/15-16, Dated 03.02.2017 For The Assessment Years 2013-2014. 2. Since Issues In Both The Appeals Are Common, They Were Heard

Capital Gains of Rs.4,55,26,088/-, as 'Business income' by the lower authorities is unjustified, arbitrary, contrary to facts, erroneous and bad in law. 7. Non deduction

ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR vs. M/S. NATIONAL ALUMINIUM COMPANY LTD., BHUBANESWAR

In the result, appeal of the assessee i

Bench: Shri N.S.Saini, Am & Shri Pavan Kumar Gadale, Jm आयकर अपील सं./Ita No.197/Ctk/2017 ("नधा"रण वष" / Assessment Year :2013-2014) Asst.Cit, Corporate Circle- Vs. National Aluminium Company 1(2), Bhubaneswar Limited, Nalco Bhawan, P/1, Nayapalli, Bhubaneswar "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacn 7449 M (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita No.211/Ctk/2017 ("नधा"रण वष" / Assessment Year :2013-2014) National Aluminium Company Vs. Asst.Cit, Corporate Circle- Limited, 1(2), Bhubaneswar Nalco Bhavan, P/1, Nayapalli, Bhubaneswar "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacn 7449 M (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & Cross Objection No.10/Ctk/2017 (Arising Out Of Ita No.197/Ctk/2017) ("नधा"रण वष" / Assessment Year :2013-2014) National Aluminium Company Vs. Asst.Cit, Corporate Circle- Limited, 1(2), Bhubaneswar Nalco Bhavan, P/1, Nayapalli, Bhubaneswar "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacn 7449 M (अपीलाथ" /Appellant) (""यथ" / Respondent) .. "नधा"रती क" ओर से /Assessee By : Shri B.K.Mahapatra,Ca राज"व क" ओर से /Revenue By : Shri Saad Kidwai, Citdr सुनवाई क" तार"ख / Date Of Hearing : 27/06/2018 घोषणा क" तार"ख/Date Of Pronouncement 29/06/2018 आदेश / O R D E R Per Shri Pavan Kumar Gadale, Jm: These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objection By The Assessee, Against The Order Of The Cit(A)-1, Co No.10/Ctk/2018 Bhubaneswar, Passed In It Appeal No.0511/15-16, Dated 03.02.2017 For The Assessment Years 2013-2014. 2. Since Issues In Both The Appeals Are Common, They Were Heard

Capital Gains of Rs.4,55,26,088/-, as 'Business income' by the lower authorities is unjustified, arbitrary, contrary to facts, erroneous and bad in law. 7. Non deduction

LORAMITRA RATH,KAIRAPARI KOTSAHI, TANGI vs. DCIT (CIRCLE-1(1), CUTTACK

The appeal is allowed

Bench: Before Shri George Mathan, Judicial & Manish Agarwal Manish Agarwalassessment Year : 2015-16 Loramitra Loramitra Rath, Rath, Kairapari Kairapari Vs. Dcit, Circle Dcit, Circle-1(1), Kotsahi, Tangi, Cuttack Kotsahi, Tangi, Cuttack Cuttack Pan/Gir No. No.Aebpr 6065 H (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri Purnendhu Bhusan Mohanty, Ca Purnendhu Bhusan Mohanty, Ca Revenue By : Shri S.C.Mohanty, Sr S.C.Mohanty, Sr Dr

deducting from the full value of the consideration received or accruing as a result of the transfer of the capital asset the following amounts, namely :- ------------------------ From conjoint reading of both the sections it is apparent that the assessee shall be liable to pay tax from Income under the Head Capital Gain

NATIONAL ALUMINIUM COMPAMY LIMITED,BHUBANESWAR vs. ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR

In the result, appeal of the assessee i

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.106/Ctk/2018 (नििाारण वषा / Assessment Year :2014-2015) National Aluminium Company Vs. Asst.Cit, Corporate Circle- Limited, 1(2), Bhubaneswar Nalco Bhawan, P/1, Nayapalli, Bhubaneswar स्थायी ऱेखा सं/Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & आयकर अऩीऱ सं./Ita No.110/Ctk/2018 (नििाारण वषा / Assessment Year :2014-2015) Asst.Cit, Corporate Circle- Vs. National Aluminium Company 1(2), Bhubaneswar Limited, Nalco Bhavan, P/1, Nayapalli, Bhubaneswar स्थायी ऱेखा सं./ Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & Cross Objection No.30/Ctk/2018 (Arising Out Of Ita No.110/Ctk/2018) (नििाारण वषा / Assessment Year :2014-2015) National Aluminium Company Vs. Asst.Cit, Corporate Circle- Limited, 1(2), Bhubaneswar Nalco Bhavan, P/1, Nayapalli, Bhubaneswar स्थायी ऱेखा सं./ Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri B.K.Mahapatra, Ar राजस्व की ओर से /Revenue By : Shri Piyush Kolhe, Cit Dr सुनवाई की तारीख / Date Of Hearing : 05/09/2019 घोषणा की तारीख/Date Of Pronouncement : 23/09/2019 आदेश / O R D E R Per L.P.Sahu, Am: These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objection By The Assessee, Against The Order Of The Cit(A)-1, Bhubaneswar, Dated 21.12.2017 For The Assessment Year 2014-2015. Co No.30/Ctk/2018

capital gain as business income at Rs.114,80,58,652/-; v) Disallowance u/s.14A of the Act at Rs.6,82,43,072/-; and vi) Disallowance of the loss on account of revaluation of non-moving stores and spares at Rs.11,35,37,207/- 4. Against the above additions and the order of the AO, the assessee filed an appeal before

ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR vs. NATIONAL ALUMINIUM COMPAMY LIMITED, BHUBANESWAR

In the result, appeal of the assessee i

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.106/Ctk/2018 (नििाारण वषा / Assessment Year :2014-2015) National Aluminium Company Vs. Asst.Cit, Corporate Circle- Limited, 1(2), Bhubaneswar Nalco Bhawan, P/1, Nayapalli, Bhubaneswar स्थायी ऱेखा सं/Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & आयकर अऩीऱ सं./Ita No.110/Ctk/2018 (नििाारण वषा / Assessment Year :2014-2015) Asst.Cit, Corporate Circle- Vs. National Aluminium Company 1(2), Bhubaneswar Limited, Nalco Bhavan, P/1, Nayapalli, Bhubaneswar स्थायी ऱेखा सं./ Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & Cross Objection No.30/Ctk/2018 (Arising Out Of Ita No.110/Ctk/2018) (नििाारण वषा / Assessment Year :2014-2015) National Aluminium Company Vs. Asst.Cit, Corporate Circle- Limited, 1(2), Bhubaneswar Nalco Bhavan, P/1, Nayapalli, Bhubaneswar स्थायी ऱेखा सं./ Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri B.K.Mahapatra, Ar राजस्व की ओर से /Revenue By : Shri Piyush Kolhe, Cit Dr सुनवाई की तारीख / Date Of Hearing : 05/09/2019 घोषणा की तारीख/Date Of Pronouncement : 23/09/2019 आदेश / O R D E R Per L.P.Sahu, Am: These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objection By The Assessee, Against The Order Of The Cit(A)-1, Bhubaneswar, Dated 21.12.2017 For The Assessment Year 2014-2015. Co No.30/Ctk/2018

capital gain as business income at Rs.114,80,58,652/-; v) Disallowance u/s.14A of the Act at Rs.6,82,43,072/-; and vi) Disallowance of the loss on account of revaluation of non-moving stores and spares at Rs.11,35,37,207/- 4. Against the above additions and the order of the AO, the assessee filed an appeal before