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

2,4 & 7 raised by the revenue for A.Y. 2014-15, mainly challenging the action of Ld. CIT(A) of accepting the assessee‟s claim of exempt long term capital gain from sale of equity shares u/s 10(38) of the Act by way of ignoring the revised return for A.Y.2014-15, by way of accepting revised computation of income

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

2,4 & 7 raised by the revenue for A.Y. 2014-15, mainly challenging the action of Ld. CIT(A) of accepting the assessee‟s claim of exempt long term capital gain from sale of equity shares u/s 10(38) of the Act by way of ignoring the revised return for A.Y.2014-15, by way of accepting revised computation of income

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

2,4 & 7 raised by the revenue for A.Y. 2014-15, mainly challenging the action of Ld. CIT(A) of accepting the assessee‟s claim of exempt long term capital gain from sale of equity shares u/s 10(38) of the Act by way of ignoring the revised return for A.Y.2014-15, by way of accepting revised computation of income

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

2,4 & 7 raised by the revenue for A.Y. 2014-15, mainly challenging the action of Ld. CIT(A) of accepting the assessee‟s claim of exempt long term capital gain from sale of equity shares u/s 10(38) of the Act by way of ignoring the revised return for A.Y.2014-15, by way of accepting revised computation of income

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

2,4 & 7 raised by the revenue for A.Y. 2014-15, mainly challenging the action of Ld. CIT(A) of accepting the assessee‟s claim of exempt long term capital gain from sale of equity shares u/s 10(38) of the Act by way of ignoring the revised return for A.Y.2014-15, by way of accepting revised computation of income

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

2,4 & 7 raised by the revenue for A.Y. 2014-15, mainly challenging the action of Ld. CIT(A) of accepting the assessee‟s claim of exempt long term capital gain from sale of equity shares u/s 10(38) of the Act by way of ignoring the revised return for A.Y.2014-15, by way of accepting revised computation of income

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

2,4 & 7 raised by the revenue for A.Y. 2014-15, mainly challenging the action of Ld. CIT(A) of accepting the assessee‟s claim of exempt long term capital gain from sale of equity shares u/s 10(38) of the Act by way of ignoring the revised return for A.Y.2014-15, by way of accepting revised computation of income

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

2,4 & 7 raised by the revenue for A.Y. 2014-15, mainly challenging the action of Ld. CIT(A) of accepting the assessee‟s claim of exempt long term capital gain from sale of equity shares u/s 10(38) of the Act by way of ignoring the revised return for A.Y.2014-15, by way of accepting revised computation of income

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

2,4 & 7 raised by the revenue for A.Y. 2014-15, mainly challenging the action of Ld. CIT(A) of accepting the assessee‟s claim of exempt long term capital gain from sale of equity shares u/s 10(38) of the Act by way of ignoring the revised return for A.Y.2014-15, by way of accepting revised computation of income

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

2,4 & 7 raised by the revenue for A.Y. 2014-15, mainly challenging the action of Ld. CIT(A) of accepting the assessee‟s claim of exempt long term capital gain from sale of equity shares u/s 10(38) of the Act by way of ignoring the revised return for A.Y.2014-15, by way of accepting revised computation of income

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

2,4 & 7 raised by the revenue for A.Y. 2014-15, mainly challenging the action of Ld. CIT(A) of accepting the assessee‟s claim of exempt long term capital gain from sale of equity shares u/s 10(38) of the Act by way of ignoring the revised return for A.Y.2014-15, by way of accepting revised computation of income

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

2,4 & 7 raised by the revenue for A.Y. 2014-15, mainly challenging the action of Ld. CIT(A) of accepting the assessee‟s claim of exempt long term capital gain from sale of equity shares u/s 10(38) of the Act by way of ignoring the revised return for A.Y.2014-15, by way of accepting revised computation of income

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

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

2 of the Wealth-tax Act, 1957 (27 of 1957)" 12. From the bare reading of all these three sections it may be seen that section 43CA deals with the valuation of all the assets other than capital assets and other provisions of section 50C are applicable. Section 55A can be invoked where estimation of fair market value

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

In the result, appeal of the assessee is allowed

2 3. For that under the facts and in the circumstance of the case the amount of Rs.65,55,972/- should not have been treated as unexplained cash credit u/s.68 and should have been accepted as income from Long Term Capital Gains and should have been treated as exempt income u/s.10(38). 4. For that under the facts

DCIT, CIRCLE-1(1), BHUBANESWAR, BHUBANESWAR vs. M/S. PARADEEP PHOSPHATES LIMITED, BHUBANESWAR

In the result, appeal filed by the revenue is dismissed and that of

Bench: S/Shri N.S Saini & Pavan Kumar Gadaleassessment Year : 2010-2011

143(3)/ 263 of I.T. Act for the AY 2006-07 is enclosed and marked as Annexure-2 for your kind reference. It may be mentioned here that the Ld. CIT set aside the assessment order for the AY 2007-08 by invoking Section 263 of the Act and directed the AO to do denovo assessment by adding/disallowing an amount

UDAYKUMAR VYAS,NAGPUR vs. ITO WARD 1 (5), BSNL RTTC BUILDING

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh & Shri Khettra Mohan Royudaykumar Vyas, Ito, Ward – 1(5) Flat No. 402, Lepresting Vs Nagpur Apartment, Plot No. 105- 106, Ramdaspeth, Nagpur. Pan : Aarpv 4578 K Assessee Respondent

section 50C is not applicable. 2. Without prejudice to above, the computation of capital gain done by AO and confirmed by CIT(A) is incorrect, since while calculating the capital gain on sale of land to M/s Vedbhumi Builders, the cost of acquisition of different land is deducted from the sale price. 3. The appellant craves leave to add, alter

DEOKARAN DAS RAMBILASH,SUNDARGARH vs. ITA, WARD-04, , ROURKELA

In the result, appeal of the assessee is partly allowed

Bench: Shri Shri Chandra Mohan Garg, Judicialassessment Year : 2010-2011 Deokaran Das Deokaran Das Rambilash, Old Vs. Ito, Ward -4, Station Road, Rourkela. Station Road, Rourkela. Rourkela. Pan/Gir No.Aadfd 9708 K Aadfd 9708 K (Appellant) (Appellant .. ( Respondent Respondent) Assessee By : Shri S.K.Agarwalla, Ar Ar Revenue By : Shri S.C.Mohanty, Dr Dr Date Of Hearing : 28/05/ 2021 1 Date Of Pronouncement : 14/06/20 /2021 O R D E R

capital, remuneration to partners and depreciation which are to be allowed as per the provisions of the depreciation which are to be allowed as per the provisions of the depreciation which are to be allowed as per the provisions of the Act.” P a g e 1 | 9 Assessment Year : 2010-2011 3. The appeal is time barred

MAHANADI COALFIELDS LTD.,SAMBALPUR vs. DCIT, CIRCLE-2(1), SAMBALPUR

In the result, appeal of the assessee is partly allowed for

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अपीऱ सं./Ita No.174/Ctk/2018 (नििाारण वषा / Assessment Year : 2015 - 2016) Mahanadi Coalfields Ltd., Vs. Dcit, Circle-2(1), Sambalpur Jagriti Vihar, Burla, Sambalpur स्थायी ऱेखा सं./Pan No. : Aabcm 5188 P (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. यनधागररती की ओर से /Assessee By : Shri S.S.Podar, Ca राजस्व की ओर से /Revenue By : Shri S.M.Keshkamat, Citdr सुनवाई की तारीख / Date Of Hearing : 15/01/2020 घोषणा की तारीख/Date Of Pronouncement : 05/06/2020 आदेश / O R D E R Per L.P.Sahu, Am :

143(3) of the 1. T. Act, 1961 was completed vide order dated 31.12.2017 in which the Ld. AO assessed the total income at Rs. 789323.30 Lacs by making substantial additions/disallowances and raising a further tax demand of Rs. 196731.20 Lakhs including interest of Rs. 30349.26 Lakhs u/s, 234B. Subsequently, vide order u/s.154/143(3) dated 31.01.2018 the assessed income

KAMAL KUMAR AGARWALLA,BHUBANESWAR vs. PRINCIPAL CIT-1, BHUBANESWAR

In the result, the appeal of the assessee is allowed

Bench: Shri Chandra Mohan Garg, Jm & Shri Arun Khodpia, Am आयकर अपीऱ सं./Ita No.58/Ctk/2021 (नििाारण वषा / Assessment Year :2016-2017) Vs Pr.Cit, Bhubaneswar Kamal Kumar Agarwalla, 87, Kharavela Nagar, Unit-Iii, Bhubaneswar-751001 Pan No. : Aaopa 1367 L (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. यनधागररती की ओर से /Assessee By : Shri S.K.Agarwalla/B.L.Agarwal, Ars राजस्व की ओर से /Revenue By : Shri M.K.Gautam, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 28/03/2022 घोषणा की तारीख/Date Of Pronouncement : 04/04/2022 आदेश / O R D E R Per Arun Khodpia, Am: This Appeal By The Assessee Made Against The Order Dated 20.03.2021, Passed By The Pr.Cit, Bhubaneswar For The Assessment Year 2016-2017, On The Following Grounds :- 1. That, The Order Passed U/S 263 By The Ld. Pr. Commissioner Of Income Tax-I, Bhubaneswar For Doing Of De Novo Assessment Is Not Sustainable In View Of The Fact That, The Assessment Order Passed U/S 143(3) Of The Act Is Neither Erroneous Nor Prejudicial To The Interest Of Revenue. 2. That, Ld. Pr. Commissioner Of Income Tax-I, Bhubaneswar Is Wrong In Directing The Ld. Assessing Officer To Make The De Novo Assessment In View Of The Fact That The Issued With Regard To The Capital Gain Was Examined By The Ld. Assessing Officer During The Course Of Assessment Proceedings By Issuing Of Notice U/S 142(1) Dated 15.12.2018 & Therefore The Revisional Order Passed U/S 263 Is Illegal & Liable To Be Quashed. 3. That, The Ld. Pr. Commissioner Of Income Tax-I, Bhubaneswar Is Not Justified In Setting Aside The Assessment Order Passed U/S 143(3) For The Purpose Of Verification Of Introduction Of Capital Which Had Been Verified By The Ld. Assessing Officer By Issuing

143(2) of the Income Tax Act 1961 wherein the heading of the notice was “Complete Scrutiny (Computer Aided Scrutiny Selection)”. In continuation, Ld AR further took us to page 47-48 of the paper book where in notice dated 15.12.2018 issued by the AO has certain queries regarding Capital Gain which reads as under: In connection with the assessment