KALPANA MISHRA,BHUBANESWAR vs. ITO, WARD 5(4), BHUBANESWAR, BHUBANESWAR

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

Bench: Shri George Mathan & Shri Manish Agarwalआयकर अपील संसंसंसं/Ita No.491/Ctk/2024 (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Year : 2016-2017) वष" Kalpana Mishra, Vs Ito Ward-5(4), Bhubaneswar Plot No.B-87/A, Chandaka Industrial Estate, Patia, Bhubaneswar-751024 Pan No. :Alfpm 2864 E (अपीलाथ" अपीलाथ" अपीलाथ" /Appellant) अपीलाथ" (""यथ" ""यथ" ""यथ" / Respondent) ""यथ" .. िनधा"रती िनधा"रती क" िनधा"रती िनधा"रती क" क" ओर क" ओर ओर सेसेसेसे /Assessee By ओर : Shri B.R.Pattnaik, Ca राज"व राज"व क" राज"व राज"व क" क" ओर क" ओर ओर सेसेसेसे /Revenue By ओर : Shri S.C.Mohanty, Sr. Dr सुनवाई क" तारीख / Date Of Hearing : 28/01/2025 घोषणा क" तारीख/Date Of Pronouncement : 28/01/2025 आदेश आदेश / O R D E R आदेश आदेश Per Bench : This Is An Appeal Filed By The Assessee Against The Order Dated 07.03.2024, Passed By The Cit(A), National Faceless Appeal Centre (Nfac), Delhi In Din & Order No.Itba/Nfac/S/250/2023- 24/1062168195(1) For The Assessment Year 2016-2017, On The Following Grounds :- 1. Hon'Ble Cit(Appeals), Nfac Has Erred In Law & On Facts In Confirming The Action Of The Learned Ao Even Though The Learned Ao Has Exceeded His Jurisdiction In A Limited Scrutiny Case Selected Under Cass Only To Examine Whether The Investment & Income Relating To Securities Transactions Are Duly Disclosed Or Not & Added A Sum Of Rs.44,00,000.00 U/S 68 Of The Income Tax Act, 1961, Without Obtaining Prior Administrative Approval Of The Concerned Pr. Cit/Cit As Prescribed In Circular F. No. 225/402/2018/Ita.Ii, Dated 28- 11-2018 & Instruction No.5/2016 [F.No.225/269/2015-

capital gains" or under "profits and gains of business or profession", it is essential to know the manner of disclosure of investment/accounting relating to listed shares and securities transactions 3.1.20. Accordingly, the direction was issued in this 'limited scrutiny' to examine whether the investment and income relating to securities transactions are duly disclosed. 3.1.21. The 'limited scrutiny' was never initiated

SMT. SANJUKTA PRUSTY,BHUBANESWAR vs. ITO, WARD-3(5), BHUBANESWAR

In the result, appeal of the assessee is allowed

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahuassessment Year : 2013-14

Capital Gain after taking exemption U/s.54F of the I.T.Act 1961. The copy of the acknowledgement along with the hard copy of the return are enclosed in the paper book-1 submitted on 08.01.2018 and marked as Annexure-C (page-31 to 40) for you honour's kind perusal. 5.8 That under the above said facts and circumstances of the case

ACIT, ROURKELA CIRCLE, ROURKELA vs. INDRANI PATNAIK, ROURKELA

In the result, appeals of the revenue and assessee are partly allowed for statistical purposes

Bench: S/ S/Shri Chandra Mohan Garg, Judicial & Manish Borad & Manish Borad & Manish Boradassessment Year : 2015-16 Asst. Commissioner Of Income Asst. Commissioner Of Income Vs. Indrani Indrani Patnaik, Patnaik, A/6, A/6, Tax, Rourkela Circle, Rourkela. Tax, Rourkela Circle, Rourkela. Commercial Commercial Estate, Estate, Civil Civil Township, Rourkela Township, Rourkela-769004 Pan/Gir No. No.Accpp 6164 E (Appellant (Appellant) .. ( Respondent Respondent) Assessment Year : 2015-16 C.O. No.01/Ctk/2019 (Arising Out Of Ita No.373/Ctk/2018) (Arising Out Of Ita No.373/Ctk/2018) Assessment Year: 2015-16 Indrani Indrani Patnaik, Patnaik, A/6, A/6, Vs. Asst. Commissioner Of Income Asst. Commissioner Of Income Commercial Commercial Estate, Estate, Civil Civil Tax, Rourkela Circle, Rourkela Tax, Rourkela Circle, Rourkela Township, Rourkela Township, Rourkela-769004 Pan/Gir No.Accpp 6164 E Pan/Gir No.Accpp 6164 E (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri S.C. Bhadra S.C. Bhadra , Ar Revenue By : Shri M.K.Gautam, Cit (Dr) Date Of Hearing : 20 /10/ 20 / 2021 Date Of Pronouncement : 10 / 12 12/2021 O R D E R Per Bench The Cross The Cross Appeals Filed By The Revenue & Assessee Assessee Are Directed Against The Or Against The Order Of The Cit(A), Sambalpur Dated 2.7.2018 Der Of The Cit(A), Sambalpur Dated 2.7.2018 For The P A G E 1 | 62

section 145 (3) and order of the Madras High Court in the case of Marg Ltd(supra), he cannot proceed further without rejecting Books of Account to make any addition to the profit derived, by taking a provisional costing figure, submitted by the appellant herself before the IBM. 20. We note that the assessee being raising the Iron Ore from

SMT. INDRANI PATNAIK,ROURKELA vs. ACIT, ROURKELA CIRCLE, ROURKELA

In the result, appeals of the revenue and assessee are partly allowed for statistical purposes

Bench: S/ S/Shri Chandra Mohan Garg, Judicial & Manish Borad & Manish Borad & Manish Boradassessment Year : 2015-16 Asst. Commissioner Of Income Asst. Commissioner Of Income Vs. Indrani Indrani Patnaik, Patnaik, A/6, A/6, Tax, Rourkela Circle, Rourkela. Tax, Rourkela Circle, Rourkela. Commercial Commercial Estate, Estate, Civil Civil Township, Rourkela Township, Rourkela-769004 Pan/Gir No. No.Accpp 6164 E (Appellant (Appellant) .. ( Respondent Respondent) Assessment Year : 2015-16 C.O. No.01/Ctk/2019 (Arising Out Of Ita No.373/Ctk/2018) (Arising Out Of Ita No.373/Ctk/2018) Assessment Year: 2015-16 Indrani Indrani Patnaik, Patnaik, A/6, A/6, Vs. Asst. Commissioner Of Income Asst. Commissioner Of Income Commercial Commercial Estate, Estate, Civil Civil Tax, Rourkela Circle, Rourkela Tax, Rourkela Circle, Rourkela Township, Rourkela Township, Rourkela-769004 Pan/Gir No.Accpp 6164 E Pan/Gir No.Accpp 6164 E (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri S.C. Bhadra S.C. Bhadra , Ar Revenue By : Shri M.K.Gautam, Cit (Dr) Date Of Hearing : 20 /10/ 20 / 2021 Date Of Pronouncement : 10 / 12 12/2021 O R D E R Per Bench The Cross The Cross Appeals Filed By The Revenue & Assessee Assessee Are Directed Against The Or Against The Order Of The Cit(A), Sambalpur Dated 2.7.2018 Der Of The Cit(A), Sambalpur Dated 2.7.2018 For The P A G E 1 | 62

section 145 (3) and order of the Madras High Court in the case of Marg Ltd(supra), he cannot proceed further without rejecting Books of Account to make any addition to the profit derived, by taking a provisional costing figure, submitted by the appellant herself before the IBM. 20. We note that the assessee being raising the Iron Ore from

K.P. PRIME ASSETS PVT. LTD.,CUTTACK vs. ACIT, CIRCLE-2(1) , CUTTACK

In the result, the appeal of the assessee and revenue are allowed for statistical purposes

155/- or at best it can not be more than RS.10 Lakhs. (ii) As per the admission of the director, Mr. Anand Paddar, Bush Clearing and leveling have only been carried out on the plot of land transferred i.e. Ac 8.15 decimal. The Kisam of the land is "Bagayat" which means the land was having bushes and trees hence

ACIT, CIRCLE- 2(1), CUTTACK vs. K P PRIME ASSETS (P) LTD. , CUTTACK

In the result, the appeal of the assessee and revenue are allowed for statistical purposes

155/- or at best it can not be more than RS.10 Lakhs. (ii) As per the admission of the director, Mr. Anand Paddar, Bush Clearing and leveling have only been carried out on the plot of land transferred i.e. Ac 8.15 decimal. The Kisam of the land is "Bagayat" which means the land was having bushes and trees hence

M/S. ODISHA POWER GENERATION CORPORATION LTD.,BHUBANESWAR vs. ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR

In the result, appeal of the assessee is partly allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

155 development & welfare exp. 6. Prior period - 69,91,618 61,16,336 67,54,639 - - adjustments P a g e 2 | 52 OPGC Department’s appeals Sr. No. Allowed expenses ITA No.114/C/14 ITA No.288/C/16 ITA No.175/C/16 Asst.yr.11-12 Asst.Yr.12-13 Asst.Yr. 10-11 1 Prior period & prepaid exp. 1,15,00,000 62,41,000 - 2. Club

M/S. ODISHA POWER GENERATION CORPORATION LTD.,BHUBANESWAR vs. DCIT, CIRCLE-1(1), BHUBANESWAR, BHUBANESWAR

In the result, appeal of the assessee is partly allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

155 development & welfare exp. 6. Prior period - 69,91,618 61,16,336 67,54,639 - - adjustments P a g e 2 | 52 OPGC Department’s appeals Sr. No. Allowed expenses ITA No.114/C/14 ITA No.288/C/16 ITA No.175/C/16 Asst.yr.11-12 Asst.Yr.12-13 Asst.Yr. 10-11 1 Prior period & prepaid exp. 1,15,00,000 62,41,000 - 2. Club

ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR vs. M/S. ORISSA POWER GENERATION CORPORATION LTD., BHUBANESWAR

In the result, appeal of the assessee is partly allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

155 development & welfare exp. 6. Prior period - 69,91,618 61,16,336 67,54,639 - - adjustments P a g e 2 | 52 OPGC Department’s appeals Sr. No. Allowed expenses ITA No.114/C/14 ITA No.288/C/16 ITA No.175/C/16 Asst.yr.11-12 Asst.Yr.12-13 Asst.Yr. 10-11 1 Prior period & prepaid exp. 1,15,00,000 62,41,000 - 2. Club

M/S. ODISHA POWER GENERATION CORPORATION LIMITED,BHUBANESWAR vs. DCIT,CORPORATE CIRCLE-1(2), BHUBANESWAR

In the result, appeal of the assessee is partly allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

155 development & welfare exp. 6. Prior period - 69,91,618 61,16,336 67,54,639 - - adjustments P a g e 2 | 52 OPGC Department’s appeals Sr. No. Allowed expenses ITA No.114/C/14 ITA No.288/C/16 ITA No.175/C/16 Asst.yr.11-12 Asst.Yr.12-13 Asst.Yr. 10-11 1 Prior period & prepaid exp. 1,15,00,000 62,41,000 - 2. Club

ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR vs. M/S. ODISHA POWER GENERATION CORPORATION LTD., BHUBANESWAR

In the result, appeal of the assessee is partly allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

155 development & welfare exp. 6. Prior period - 69,91,618 61,16,336 67,54,639 - - adjustments P a g e 2 | 52 OPGC Department’s appeals Sr. No. Allowed expenses ITA No.114/C/14 ITA No.288/C/16 ITA No.175/C/16 Asst.yr.11-12 Asst.Yr.12-13 Asst.Yr. 10-11 1 Prior period & prepaid exp. 1,15,00,000 62,41,000 - 2. Club

M/S. ODISHA POWER GENERATION CORPORATION LTD.,BHUBANESWAR vs. ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR

In the result, appeal of the assessee is partly allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

155 development & welfare exp. 6. Prior period - 69,91,618 61,16,336 67,54,639 - - adjustments P a g e 2 | 52 OPGC Department’s appeals Sr. No. Allowed expenses ITA No.114/C/14 ITA No.288/C/16 ITA No.175/C/16 Asst.yr.11-12 Asst.Yr.12-13 Asst.Yr. 10-11 1 Prior period & prepaid exp. 1,15,00,000 62,41,000 - 2. Club

M/S. ODISHA POWER GENERATION CORPORATION LIMITED,BHUBANESWAR vs. DCIT,CORPORATE CIRCLE-1(2), BHUBANESWAR

In the result, appeal of the assessee is partly allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

155 development & welfare exp. 6. Prior period - 69,91,618 61,16,336 67,54,639 - - adjustments P a g e 2 | 52 OPGC Department’s appeals Sr. No. Allowed expenses ITA No.114/C/14 ITA No.288/C/16 ITA No.175/C/16 Asst.yr.11-12 Asst.Yr.12-13 Asst.Yr. 10-11 1 Prior period & prepaid exp. 1,15,00,000 62,41,000 - 2. Club

M/S. ODISHA POWER GENERATION CORPORATION LTD.,BHUBANESWAR vs. DCIT, CIRCLE-1(1), BHUBANESWAR

In the result, appeal of the assessee is partly allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

155 development & welfare exp. 6. Prior period - 69,91,618 61,16,336 67,54,639 - - adjustments P a g e 2 | 52 OPGC Department’s appeals Sr. No. Allowed expenses ITA No.114/C/14 ITA No.288/C/16 ITA No.175/C/16 Asst.yr.11-12 Asst.Yr.12-13 Asst.Yr. 10-11 1 Prior period & prepaid exp. 1,15,00,000 62,41,000 - 2. Club

DCIT, BHUBANESWAR vs. ORISSA POWER GENERATION CORPORATION LTD, BHUBANESWAR

In the result, appeal of the assessee is partly allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No Ita No.114/Ctk/2014: Assessment Year Assessment Year : 2010-11

155 development & welfare exp. 6. Prior period - 69,91,618 61,16,336 67,54,639 - - adjustments P a g e 2 | 52 OPGC Department’s appeals Sr. No. Allowed expenses ITA No.114/C/14 ITA No.288/C/16 ITA No.175/C/16 Asst.yr.11-12 Asst.Yr.12-13 Asst.Yr. 10-11 1 Prior period & prepaid exp. 1,15,00,000 62,41,000 - 2. Club

M/S. SHREE BALAJI ENGICONS PVT. LTD.,BELPAHAR, JHARSUGUDA vs. ACIT, CENTRAL CIRCLE-1(1), SAMBALPUR, SAMBALPUR

In the result, appeals of the assesee in IT(SS)A No

Bench: Shri George Mathan & Shri Manish Agarwalit(Ss)A No.77/Ctk/2023

capital for completion of the contract and so it was entitled to 14 IT(SS)A No.77 & ITA Nos.320,296,88, 141,89,142,13/CTK/2023 &CO No.02/CTK/2023 receive the entire contract receipts. In such a case, we are satisfied that the assessee has itself carried on the works contract and was not a sub-contractor carrying on the works contract

ASST. CIT, CENTRAL CIRCLE, SAMBALPUR, AAYAKAR BHAWAN, SAMBALPUR vs. SHREE BALAJI ENGICON LIMITED, BELPAHAR RS

In the result, appeals of the assesee in IT(SS)A No

Bench: Shri George Mathan & Shri Manish Agarwalit(Ss)A No.77/Ctk/2023

capital for completion of the contract and so it was entitled to 14 IT(SS)A No.77 & ITA Nos.320,296,88, 141,89,142,13/CTK/2023 &CO No.02/CTK/2023 receive the entire contract receipts. In such a case, we are satisfied that the assessee has itself carried on the works contract and was not a sub-contractor carrying on the works contract

M/S. SHREE BALAJI ENGICONS PVT. LTD.,BELPAHAR, JHARSUGUDA vs. DCIT, CENTRAL CIRCLE-1(1), SAMBALPUR, SAMBALPUR

In the result, appeals of the assesee in IT(SS)A No

Bench: Shri George Mathan & Shri Manish Agarwalit(Ss)A No.77/Ctk/2023

capital for completion of the contract and so it was entitled to 14 IT(SS)A No.77 & ITA Nos.320,296,88, 141,89,142,13/CTK/2023 &CO No.02/CTK/2023 receive the entire contract receipts. In such a case, we are satisfied that the assessee has itself carried on the works contract and was not a sub-contractor carrying on the works contract

M/S. SHREE BAALAJI ENGICONS LIMITED,JHARSUGUDA vs. DEPUTY COMMISSIONER OF INCOME TAX ( CENTRAL CIRCLE-1(1), SAMBALPUR

In the result, appeals of the assesee in IT(SS)A No

Bench: Shri George Mathan & Shri Manish Agarwalit(Ss)A No.77/Ctk/2023

capital for completion of the contract and so it was entitled to 14 IT(SS)A No.77 & ITA Nos.320,296,88, 141,89,142,13/CTK/2023 &CO No.02/CTK/2023 receive the entire contract receipts. In such a case, we are satisfied that the assessee has itself carried on the works contract and was not a sub-contractor carrying on the works contract