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

e. 10(38) in respect of the sale of shares of MIs. Kailash Auto Finance Ltd. (KAFL). The relevant extracts from the ITAT order are as under-: 'We find force in the arguments of the ld AR that the Id AD was not justified in rejecting the claim of the assessee on the basis of theory of surrounding circumstances, human

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

e. 10(38) in respect of the sale of shares of MIs. Kailash Auto Finance Ltd. (KAFL). The relevant extracts from the ITAT order are as under-: 'We find force in the arguments of the ld AR that the Id AD was not justified in rejecting the claim of the assessee on the basis of theory of surrounding circumstances, human

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

e. 10(38) in respect of the sale of shares of MIs. Kailash Auto Finance Ltd. (KAFL). The relevant extracts from the ITAT order are as under-: 'We find force in the arguments of the ld AR that the Id AD was not justified in rejecting the claim of the assessee on the basis of theory of surrounding circumstances, human

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

e. 10(38) in respect of the sale of shares of MIs. Kailash Auto Finance Ltd. (KAFL). The relevant extracts from the ITAT order are as under-: 'We find force in the arguments of the ld AR that the Id AD was not justified in rejecting the claim of the assessee on the basis of theory of surrounding circumstances, human

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

e. 10(38) in respect of the sale of shares of MIs. Kailash Auto Finance Ltd. (KAFL). The relevant extracts from the ITAT order are as under-: 'We find force in the arguments of the ld AR that the Id AD was not justified in rejecting the claim of the assessee on the basis of theory of surrounding circumstances, human

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

e. 10(38) in respect of the sale of shares of MIs. Kailash Auto Finance Ltd. (KAFL). The relevant extracts from the ITAT order are as under-: 'We find force in the arguments of the ld AR that the Id AD was not justified in rejecting the claim of the assessee on the basis of theory of surrounding circumstances, human

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

e. 10(38) in respect of the sale of shares of MIs. Kailash Auto Finance Ltd. (KAFL). The relevant extracts from the ITAT order are as under-: 'We find force in the arguments of the ld AR that the Id AD was not justified in rejecting the claim of the assessee on the basis of theory of surrounding circumstances, human

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

e. 10(38) in respect of the sale of shares of MIs. Kailash Auto Finance Ltd. (KAFL). The relevant extracts from the ITAT order are as under-: 'We find force in the arguments of the ld AR that the Id AD was not justified in rejecting the claim of the assessee on the basis of theory of surrounding circumstances, human

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

e. 10(38) in respect of the sale of shares of MIs. Kailash Auto Finance Ltd. (KAFL). The relevant extracts from the ITAT order are as under-: 'We find force in the arguments of the ld AR that the Id AD was not justified in rejecting the claim of the assessee on the basis of theory of surrounding circumstances, human

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

e. 10(38) in respect of the sale of shares of MIs. Kailash Auto Finance Ltd. (KAFL). The relevant extracts from the ITAT order are as under-: 'We find force in the arguments of the ld AR that the Id AD was not justified in rejecting the claim of the assessee on the basis of theory of surrounding circumstances, human

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) ..

e. That without prejudice to Ground (a) to (d) above, in any case as per Board Circular which recognizes that an assessee can have two portfolios, one Investment and other trading, the treatment of the aforesaid Capital Gains, both Long term Capital Gains of Rs. 63,57, l3,5001- and Short term Capital Gains

M/S. ALTRADE MINERALS PVT. LIMITED,ROURKELA vs. ACIT,CENTRAL CIRCLE, SAMBALPUR, SAMBALPUR

In the result, appeal of the assessee is partly allowed

Bench: Before Shri George Mathanmember & Manish Agarwal Manish Agarwalassessment Year : 2011-12 M/S. Altrade Minerals Pvt /S. Altrade Minerals Pvt Vs. Asst. Asst. Commissioner Commissioner Of Of Ltd., C/O. Kadmawala & Co., C/O. Kadmawala & Co., Income Tax, Central Circle, Income Tax, Central Circle, C.A., C.A., Budhram Budhram Oram Oram Sambalpur Market, Market, Kachery Kachery Road, Road, Rourkela. Pan/Gir No. No.Aafca 7136 F (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri M.R.Sahu, Ca Revenue By : Shri S.C.Mohanty, Sr Dr : Shri S.C.Mohanty, Sr Dr Date Of Hearing : 16/12/20 2024 Date Of Pronouncement : 16/12/20 024

gainfully rely upon the decision of the binding decision of the jurisdictional Orissa High Court in the case of “Siksha O Anusadhan Vs. CIT[2011} 336 ITR 112 (Orissa. HC)’. In the decided case question came for consideration before the Hon’ble High Court was as under: “2.(iii). Whether on the facts and circumstances of the case, the income

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

RASHI AGRAWAL,CUTTACKI vs. INCOME TAX OFFICER, CUTTACK

In the result, appeal of the assessee allowed

E R This is an appeal filed by the assessee against the order of the ld. CIT(A), National Faceless Appeal Centre (NFAC), Delhi, dated 31.01.2023, passed in DIN & Order No.ITBA/NFAC/S/250/2022- 23/1049275665(1), for the assessment year 2014-2015. 2. It was submitted by the ld. AR that the assessee is an individual, who is deriving income from capital

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

e. That the learned CIT(Appeals) holding that the aforesaid Rs.1,20,828/- has no basis and purely ad hoc' is incorrect, contrary to facts, arbitrary and erroneous and bad, both in the eye of law and on facts. 6. Addition of Rs.59,81,49,044/- as "Income from Business and i. treatment of Short term Capital Gains of Rs.4

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

e. That the learned CIT(Appeals) holding that the aforesaid Rs.1,20,828/- has no basis and purely ad hoc' is incorrect, contrary to facts, arbitrary and erroneous and bad, both in the eye of law and on facts. 6. Addition of Rs.59,81,49,044/- as "Income from Business and i. treatment of Short term Capital Gains of Rs.4

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

In the result, both appeals of the assessee are dismissed

e. Sri Mallick. So, this method is followed by the assessee in order to avoid the mischief of section 13ffi(c) of the I. T.Act.1961. Section 13(1 )(c)(ii) of the Act states that nothing contained in section 11 or section 12 shall operate so as to exclude from the total income of the previous year

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

In the result, both appeals of the assessee are dismissed

e. Sri Mallick. So, this method is followed by the assessee in order to avoid the mischief of section 13ffi(c) of the I. T.Act.1961. Section 13(1 )(c)(ii) of the Act states that nothing contained in section 11 or section 12 shall operate so as to exclude from the total income of the previous year