M/S. NABADIGANT EDUCATIONAL TRUST,BHUBANESWAR vs. ITO, WARD-2(1), BHUBANESWAR

In the result, both appeals of the assessee are dismissed

gain or benefit of the persons specified in section 13(3) of the Act or for any other business enterprise or entity which comes within scope of this said provision. Ld. AR also drew our attention towards written submissions and submitted that the ld. CIT(A) wrongly observed that if the assessee is extending loan then Section

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) ..

13,500/- and short-term capital gain amounting to Rs.1,89,869/-. The said amounts of capital gain income have been charged to tax by the assessee company in its Computation of Income under the head capital gain. ITA Nos.339&340/CTK/16 &376/CTK/14 & CO.01/CTK/15&25/CTK/16 The AO, as well as the Ld. CIT(A) have alleged that the income earned

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

8. So far as A.Y. 2015-16 is concerned, brief facts are that subsequent to the survey proceedings u/s 133A of the Act conducted on 22.07.2015 the assessee filed return of income for A.Y. 2015-16 on 24.09.2015 disclosing total income of Rs.64,83,770/- inter alia disclosing capital gain of Rs.61,59,697/- without claiming exemption

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

8. So far as A.Y. 2015-16 is concerned, brief facts are that subsequent to the survey proceedings u/s 133A of the Act conducted on 22.07.2015 the assessee filed return of income for A.Y. 2015-16 on 24.09.2015 disclosing total income of Rs.64,83,770/- inter alia disclosing capital gain of Rs.61,59,697/- without claiming exemption

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

8. So far as A.Y. 2015-16 is concerned, brief facts are that subsequent to the survey proceedings u/s 133A of the Act conducted on 22.07.2015 the assessee filed return of income for A.Y. 2015-16 on 24.09.2015 disclosing total income of Rs.64,83,770/- inter alia disclosing capital gain of Rs.61,59,697/- without claiming exemption

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

8. So far as A.Y. 2015-16 is concerned, brief facts are that subsequent to the survey proceedings u/s 133A of the Act conducted on 22.07.2015 the assessee filed return of income for A.Y. 2015-16 on 24.09.2015 disclosing total income of Rs.64,83,770/- inter alia disclosing capital gain of Rs.61,59,697/- without claiming exemption

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

8. So far as A.Y. 2015-16 is concerned, brief facts are that subsequent to the survey proceedings u/s 133A of the Act conducted on 22.07.2015 the assessee filed return of income for A.Y. 2015-16 on 24.09.2015 disclosing total income of Rs.64,83,770/- inter alia disclosing capital gain of Rs.61,59,697/- without claiming exemption

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

8. So far as A.Y. 2015-16 is concerned, brief facts are that subsequent to the survey proceedings u/s 133A of the Act conducted on 22.07.2015 the assessee filed return of income for A.Y. 2015-16 on 24.09.2015 disclosing total income of Rs.64,83,770/- inter alia disclosing capital gain of Rs.61,59,697/- without claiming exemption

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

8. So far as A.Y. 2015-16 is concerned, brief facts are that subsequent to the survey proceedings u/s 133A of the Act conducted on 22.07.2015 the assessee filed return of income for A.Y. 2015-16 on 24.09.2015 disclosing total income of Rs.64,83,770/- inter alia disclosing capital gain of Rs.61,59,697/- without claiming exemption

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

8. So far as A.Y. 2015-16 is concerned, brief facts are that subsequent to the survey proceedings u/s 133A of the Act conducted on 22.07.2015 the assessee filed return of income for A.Y. 2015-16 on 24.09.2015 disclosing total income of Rs.64,83,770/- inter alia disclosing capital gain of Rs.61,59,697/- without claiming exemption

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

8. So far as A.Y. 2015-16 is concerned, brief facts are that subsequent to the survey proceedings u/s 133A of the Act conducted on 22.07.2015 the assessee filed return of income for A.Y. 2015-16 on 24.09.2015 disclosing total income of Rs.64,83,770/- inter alia disclosing capital gain of Rs.61,59,697/- without claiming exemption

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

8. So far as A.Y. 2015-16 is concerned, brief facts are that subsequent to the survey proceedings u/s 133A of the Act conducted on 22.07.2015 the assessee filed return of income for A.Y. 2015-16 on 24.09.2015 disclosing total income of Rs.64,83,770/- inter alia disclosing capital gain of Rs.61,59,697/- without claiming exemption

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

8. So far as A.Y. 2015-16 is concerned, brief facts are that subsequent to the survey proceedings u/s 133A of the Act conducted on 22.07.2015 the assessee filed return of income for A.Y. 2015-16 on 24.09.2015 disclosing total income of Rs.64,83,770/- inter alia disclosing capital gain of Rs.61,59,697/- without claiming exemption

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

8. So far as A.Y. 2015-16 is concerned, brief facts are that subsequent to the survey proceedings u/s 133A of the Act conducted on 22.07.2015 the assessee filed return of income for A.Y. 2015-16 on 24.09.2015 disclosing total income of Rs.64,83,770/- inter alia disclosing capital gain of Rs.61,59,697/- without claiming exemption

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

In the result, appeal of the assessee is allowed

13 6. On the basis of the pleadings available on record and also the arguments advanced by learned counsel appearing for the respective parties, this Court, vide order dated 13.09.2023, framed the substantial questions of law to the following effect:- "I) Whether the learned Tribunal has rightly accepted the claim of the assessee as per law regarding exemption under Section

RASHI AGRAWAL,CUTTACKI vs. INCOME TAX OFFICER, CUTTACK

In the result, appeal of the assessee allowed

section 10(38) of the Act and the relevant findings of the Coordinate Bench contained at Para 8 read as under:- "8. The assessee has earned speculation profit in the immediately preceding year through M/s Eden Financial Services also and the said profit has been used to purchase the shares of M/s Sunrise Asian Ltd. The assessee has offered

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

section 48, which requires that consideration has to be received or accrued and the assessee having not been received the consideration, the mode of computation of capital gains fails and consequently, there can be no levy of capital gains on the assessee. It was the further submission that there is no real income received by the assessee

LALIT KUMAR JALAN,JALAN PHARMACEUTICALS vs. ITO WARD-1(1), CUTTACK

In the result, appeal of the assessee is allowed with the directions

8. However, where the assessee objected the value adopted or assessed by the stamp valuation authority referred in sub-section (1) during the course of assessment proceedings and stated that such value exceeds the fair market value of the property as on the date of the transfer, the Assessing Officer may refer the valuation of the capital asset

KANAK BHANJ DEO,BHUBANESWAR vs. ITO, WARD-5(3), BHUBANESWAR

In the result, appeal of the assessee is dismissed

Bench: Shri George Mathan & Shri Manish Agarwalआयकर अऩीऱ सं/Ita No.21/Ctk/2024 (ननधाारण वषा / Assessment Year : 2017-2018) Kanak Bhanj Deo, Vs Ito, Ward-5(3), Bhubaneswar Plot No.2093/3341, Lane-5, Jaydev Vihar, Bhubaneswar, Odisha-751013 Pan No. :Angpb 4721 Q (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri N.R.Biswal, Ca राजस्व की ओर से /Revenue By : Shri S.C.Mohanty, Sr. Dr सुनवाई की तारीख / Date Of Hearing : 10/07/2024 घोषणा की तारीख/Date Of Pronouncement : 10/07/2024 आदेश / O R D E R Per Bench : This Is An Appeal Filed By The Assessee Against The Order Of The Ld. Cit(A), National Faceless Appeal Centre (Nfac), Delhi, Dated 16.11.2023, In Din & Order No.Itba/Nfac/S/250/2023- 24/1058002817(1) For The Assessment Year 2017-2018. 2. Brief Facts Of The Case Are That The Assessee Has Entered Into Joint Development Agreement (Jda) With The Builder On 13.01.2012 & Further Executed A Distribution Agreement On 05.11.2014 According To Which The Land Of The Assessee Was Given To The Developer For Construction Of Multistoried Building & As Per Distribution Agreement, In Consideration The Assessee Is Entitled For 26% Area In The Constructed Building. During The Impugned Year The Assessee Has Got Four Flats Having Total Area Of 4220.23 Sq.Ft. (Including 92.85 Sq.Ft. Additional Area) As The Sale Consideration Being 26% Of The Newly Constructed Building. Out Of The Said

8 the year under appeal, therefore, the same has to be taxed in the hands of the assessee when the transfer as per Section 53A of the Transfer of Property Act is completed. Accordingly, the action of the AO in taxing the capital gain in the year under consideration is held as correct. 11. Unfortunately in the present case, neither