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

capital gains had been established beyond doubt and, consequently, proceeded to make the disallowance. Now, unlike section 132(4) which treats the statements recorded during a search operation as 'evidence' in any proceeding under the ~ Act, 1961, section 133A

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

capital gains had been established beyond doubt and, consequently, proceeded to make the disallowance. Now, unlike section 132(4) which treats the statements recorded during a search operation as 'evidence' in any proceeding under the ~ Act, 1961, section 133A

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

capital gains had been established beyond doubt and, consequently, proceeded to make the disallowance. Now, unlike section 132(4) which treats the statements recorded during a search operation as 'evidence' in any proceeding under the ~ Act, 1961, section 133A

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

capital gains had been established beyond doubt and, consequently, proceeded to make the disallowance. Now, unlike section 132(4) which treats the statements recorded during a search operation as 'evidence' in any proceeding under the ~ Act, 1961, section 133A

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

capital gains had been established beyond doubt and, consequently, proceeded to make the disallowance. Now, unlike section 132(4) which treats the statements recorded during a search operation as 'evidence' in any proceeding under the ~ Act, 1961, section 133A

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

capital gains had been established beyond doubt and, consequently, proceeded to make the disallowance. Now, unlike section 132(4) which treats the statements recorded during a search operation as 'evidence' in any proceeding under the ~ Act, 1961, section 133A

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

capital gains had been established beyond doubt and, consequently, proceeded to make the disallowance. Now, unlike section 132(4) which treats the statements recorded during a search operation as 'evidence' in any proceeding under the ~ Act, 1961, section 133A

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

capital gains had been established beyond doubt and, consequently, proceeded to make the disallowance. Now, unlike section 132(4) which treats the statements recorded during a search operation as 'evidence' in any proceeding under the ~ Act, 1961, section 133A

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

capital gains had been established beyond doubt and, consequently, proceeded to make the disallowance. Now, unlike section 132(4) which treats the statements recorded during a search operation as 'evidence' in any proceeding under the ~ Act, 1961, section 133A

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

capital gains had been established beyond doubt and, consequently, proceeded to make the disallowance. Now, unlike section 132(4) which treats the statements recorded during a search operation as 'evidence' in any proceeding under the ~ Act, 1961, section 133A

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

In the result, appeal of the assessee is allowed

Capital Gain" on sale of shares of penny stock by ignoring the admission by their group before the Income Tax Authority that complete tax would be paid on the bogus LTCG claimed by the group subsequent to survey operation under Section 133A

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

Capital Gain” on sale of shares of penny stock by ignoring the admission by their group before the Income Tax Authority that complete tax would be paid on the bogus LTCG claimed by the group subsequent to survey operation under Section 133A

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

Capital Gain” on sale of shares of penny stock by ignoring the admission by their group before the Income Tax Authority that complete tax would be paid on the bogus LTCG claimed by the group subsequent to survey operation under Section 133A

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.

Capital Gain” on sale of shares of penny stock by ignoring the admission by their group before the Income Tax Authority that complete tax would be paid on the bogus LTCG claimed by the group subsequent to survey operation under Section 133A

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.

Capital Gain” on sale of shares of penny stock by ignoring the admission by their group before the Income Tax Authority that complete tax would be paid on the bogus LTCG claimed by the group subsequent to survey operation under Section 133A

S.M.ENTERPRISERS,KEONJHAR vs. DCIT,CIRCLE-2(1), BHUBANESWAR

In the result, all appeals of the assessee are allowed

Bench: Shri George Mathan & Shri Arun Khodpiaआयकर अऩीऱ सं/Ita Nos.199, 200, 201 & 202, 233 & 234/Ctk/2020 (ननधाारण वषा / Assessment Years :2004-2005 To 2009-2010) S.M.Enterprises, Vs Dcit, Circle-2(1), Bhubaneswar At : Balda, Po : Joda, Keonjhar-758034 Bhubaneswar-751013 Pan No. : Aatfs 6804 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri Sunil Mishra, Advocate राजस्व की ओर से /Revenue By : Shri M.K.Gautam, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 20/10/2022 घोषणा की तारीख/Date Of Pronouncement : 20/10/2022 आदेश / O R D E R Per Bench : These Are The Appeals Filed By The Assessee Against The Separate Orders Of The Ld.Cit(A)-1, Bhubaneswar Passed In I.T.Appeal Nos.0105- 0108/15-16, Dated 01.09.2020 & In I.T.Appeal Nos.0109 & 0110/15-16, Dated 22.09.2020 For The Assessment Years 2004-2005 To 2009-2010. 2. It Was Submitted By The Ld. Ar That The Assessee Had Originally Filed Its Return Of Income Declaring Its Income From Extraction Of Iron Ore As A Contractor In The Mines Of Serajuddin & Co. There Was A Search In The Premises Of The Serajuddin & Co. On 28.05.2008. Consequent Survey Had Been Done On The Assessee On 09.07.2008. Admittedly, Books Of Account Of The Assessee Had Not Been Found. There Was A Search On The 2

capital gains on account of sale of property and he imposed penalty which was upheld by the Commissioner (Appeals) as well as by the Tribunal. It was held by Honourable Punjab & Haryana High Court that the contention that the penalty was liable to be set aside on account of the Commissioner (Appeals) describing the action of the assessee as "showing

S.M.ENTERPRISERA,KEONJHAR vs. DCIT,CIRCLE-2(1),, BHUBANESWAR

In the result, all appeals of the assessee are allowed

Bench: Shri George Mathan & Shri Arun Khodpiaआयकर अऩीऱ सं/Ita Nos.199, 200, 201 & 202, 233 & 234/Ctk/2020 (ननधाारण वषा / Assessment Years :2004-2005 To 2009-2010) S.M.Enterprises, Vs Dcit, Circle-2(1), Bhubaneswar At : Balda, Po : Joda, Keonjhar-758034 Bhubaneswar-751013 Pan No. : Aatfs 6804 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri Sunil Mishra, Advocate राजस्व की ओर से /Revenue By : Shri M.K.Gautam, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 20/10/2022 घोषणा की तारीख/Date Of Pronouncement : 20/10/2022 आदेश / O R D E R Per Bench : These Are The Appeals Filed By The Assessee Against The Separate Orders Of The Ld.Cit(A)-1, Bhubaneswar Passed In I.T.Appeal Nos.0105- 0108/15-16, Dated 01.09.2020 & In I.T.Appeal Nos.0109 & 0110/15-16, Dated 22.09.2020 For The Assessment Years 2004-2005 To 2009-2010. 2. It Was Submitted By The Ld. Ar That The Assessee Had Originally Filed Its Return Of Income Declaring Its Income From Extraction Of Iron Ore As A Contractor In The Mines Of Serajuddin & Co. There Was A Search In The Premises Of The Serajuddin & Co. On 28.05.2008. Consequent Survey Had Been Done On The Assessee On 09.07.2008. Admittedly, Books Of Account Of The Assessee Had Not Been Found. There Was A Search On The 2

capital gains on account of sale of property and he imposed penalty which was upheld by the Commissioner (Appeals) as well as by the Tribunal. It was held by Honourable Punjab & Haryana High Court that the contention that the penalty was liable to be set aside on account of the Commissioner (Appeals) describing the action of the assessee as "showing

S.M.ENTERPRISERS,KEONJHAR vs. DCIT,CIRCLE-2(1), BHUBANESWAR

In the result, all appeals of the assessee are allowed

Bench: Shri George Mathan & Shri Arun Khodpiaआयकर अऩीऱ सं/Ita Nos.199, 200, 201 & 202, 233 & 234/Ctk/2020 (ननधाारण वषा / Assessment Years :2004-2005 To 2009-2010) S.M.Enterprises, Vs Dcit, Circle-2(1), Bhubaneswar At : Balda, Po : Joda, Keonjhar-758034 Bhubaneswar-751013 Pan No. : Aatfs 6804 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri Sunil Mishra, Advocate राजस्व की ओर से /Revenue By : Shri M.K.Gautam, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 20/10/2022 घोषणा की तारीख/Date Of Pronouncement : 20/10/2022 आदेश / O R D E R Per Bench : These Are The Appeals Filed By The Assessee Against The Separate Orders Of The Ld.Cit(A)-1, Bhubaneswar Passed In I.T.Appeal Nos.0105- 0108/15-16, Dated 01.09.2020 & In I.T.Appeal Nos.0109 & 0110/15-16, Dated 22.09.2020 For The Assessment Years 2004-2005 To 2009-2010. 2. It Was Submitted By The Ld. Ar That The Assessee Had Originally Filed Its Return Of Income Declaring Its Income From Extraction Of Iron Ore As A Contractor In The Mines Of Serajuddin & Co. There Was A Search In The Premises Of The Serajuddin & Co. On 28.05.2008. Consequent Survey Had Been Done On The Assessee On 09.07.2008. Admittedly, Books Of Account Of The Assessee Had Not Been Found. There Was A Search On The 2

capital gains on account of sale of property and he imposed penalty which was upheld by the Commissioner (Appeals) as well as by the Tribunal. It was held by Honourable Punjab & Haryana High Court that the contention that the penalty was liable to be set aside on account of the Commissioner (Appeals) describing the action of the assessee as "showing