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

43,545/- M/s Kailash Auto Finance Ltd. (KAFL) 4. The common grievance of revenue relates to holding of bogus Long Term Capital Gain from sale of equity shares as genuine and for adjudicating this issue we will take the facts in case of Deepansu Mohapatra in ITANo.42 & 43/CTK/2020 for A.Y. 2014-15 & 2015-16 and our decision shall apply mutatis

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

43,545/- M/s Kailash Auto Finance Ltd. (KAFL) 4. The common grievance of revenue relates to holding of bogus Long Term Capital Gain from sale of equity shares as genuine and for adjudicating this issue we will take the facts in case of Deepansu Mohapatra in ITANo.42 & 43/CTK/2020 for A.Y. 2014-15 & 2015-16 and our decision shall apply mutatis

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

43,545/- M/s Kailash Auto Finance Ltd. (KAFL) 4. The common grievance of revenue relates to holding of bogus Long Term Capital Gain from sale of equity shares as genuine and for adjudicating this issue we will take the facts in case of Deepansu Mohapatra in ITANo.42 & 43/CTK/2020 for A.Y. 2014-15 & 2015-16 and our decision shall apply mutatis

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

43,545/- M/s Kailash Auto Finance Ltd. (KAFL) 4. The common grievance of revenue relates to holding of bogus Long Term Capital Gain from sale of equity shares as genuine and for adjudicating this issue we will take the facts in case of Deepansu Mohapatra in ITANo.42 & 43/CTK/2020 for A.Y. 2014-15 & 2015-16 and our decision shall apply mutatis

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

43,545/- M/s Kailash Auto Finance Ltd. (KAFL) 4. The common grievance of revenue relates to holding of bogus Long Term Capital Gain from sale of equity shares as genuine and for adjudicating this issue we will take the facts in case of Deepansu Mohapatra in ITANo.42 & 43/CTK/2020 for A.Y. 2014-15 & 2015-16 and our decision shall apply mutatis

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

43,545/- M/s Kailash Auto Finance Ltd. (KAFL) 4. The common grievance of revenue relates to holding of bogus Long Term Capital Gain from sale of equity shares as genuine and for adjudicating this issue we will take the facts in case of Deepansu Mohapatra in ITANo.42 & 43/CTK/2020 for A.Y. 2014-15 & 2015-16 and our decision shall apply mutatis

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

43,545/- M/s Kailash Auto Finance Ltd. (KAFL) 4. The common grievance of revenue relates to holding of bogus Long Term Capital Gain from sale of equity shares as genuine and for adjudicating this issue we will take the facts in case of Deepansu Mohapatra in ITANo.42 & 43/CTK/2020 for A.Y. 2014-15 & 2015-16 and our decision shall apply mutatis

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

43,545/- M/s Kailash Auto Finance Ltd. (KAFL) 4. The common grievance of revenue relates to holding of bogus Long Term Capital Gain from sale of equity shares as genuine and for adjudicating this issue we will take the facts in case of Deepansu Mohapatra in ITANo.42 & 43/CTK/2020 for A.Y. 2014-15 & 2015-16 and our decision shall apply mutatis

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

43,545/- M/s Kailash Auto Finance Ltd. (KAFL) 4. The common grievance of revenue relates to holding of bogus Long Term Capital Gain from sale of equity shares as genuine and for adjudicating this issue we will take the facts in case of Deepansu Mohapatra in ITANo.42 & 43/CTK/2020 for A.Y. 2014-15 & 2015-16 and our decision shall apply mutatis

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

43,545/- M/s Kailash Auto Finance Ltd. (KAFL) 4. The common grievance of revenue relates to holding of bogus Long Term Capital Gain from sale of equity shares as genuine and for adjudicating this issue we will take the facts in case of Deepansu Mohapatra in ITANo.42 & 43/CTK/2020 for A.Y. 2014-15 & 2015-16 and our decision shall apply mutatis

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) ..

d) ITAT Jaipur in the case of DCIT v. Mahender Kumar Bader [2016] 48 ITR(Trib.) 596 Further, it is a settled law that units of mutual fund are special category investments and any gain arising on sale of mutual funds is long-term capital gain. Reliance in this regard is placed on the judgment of Delhi High Court

NATIONAL ALUMINIUM COMPAMY LIMITED,BHUBANESWAR vs. ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR

In the result, appeal of the assessee i

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.106/Ctk/2018 (नििाारण वषा / Assessment Year :2014-2015) National Aluminium Company Vs. Asst.Cit, Corporate Circle- Limited, 1(2), Bhubaneswar Nalco Bhawan, P/1, Nayapalli, Bhubaneswar स्थायी ऱेखा सं/Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & आयकर अऩीऱ सं./Ita No.110/Ctk/2018 (नििाारण वषा / Assessment Year :2014-2015) Asst.Cit, Corporate Circle- Vs. National Aluminium Company 1(2), Bhubaneswar Limited, Nalco Bhavan, P/1, Nayapalli, Bhubaneswar स्थायी ऱेखा सं./ Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & Cross Objection No.30/Ctk/2018 (Arising Out Of Ita No.110/Ctk/2018) (नििाारण वषा / Assessment Year :2014-2015) National Aluminium Company Vs. Asst.Cit, Corporate Circle- Limited, 1(2), Bhubaneswar Nalco Bhavan, P/1, Nayapalli, Bhubaneswar स्थायी ऱेखा सं./ Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri B.K.Mahapatra, Ar राजस्व की ओर से /Revenue By : Shri Piyush Kolhe, Cit Dr सुनवाई की तारीख / Date Of Hearing : 05/09/2019 घोषणा की तारीख/Date Of Pronouncement : 23/09/2019 आदेश / O R D E R Per L.P.Sahu, Am: These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objection By The Assessee, Against The Order Of The Cit(A)-1, Bhubaneswar, Dated 21.12.2017 For The Assessment Year 2014-2015. Co No.30/Ctk/2018

d) above, in any case as per Board Circular which recognizes that an assessee can have two portfolios, one Investment and other trading, the ignoring and discarding of the aforesaid Loss under Long term Capital Gains of Rs.l3,75,90,268/- and the treatment of the aforesaid Gains including Short term Capital Gains of Rs.67,67,666/-, as 'Business income

ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR vs. NATIONAL ALUMINIUM COMPAMY LIMITED, BHUBANESWAR

In the result, appeal of the assessee i

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.106/Ctk/2018 (नििाारण वषा / Assessment Year :2014-2015) National Aluminium Company Vs. Asst.Cit, Corporate Circle- Limited, 1(2), Bhubaneswar Nalco Bhawan, P/1, Nayapalli, Bhubaneswar स्थायी ऱेखा सं/Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & आयकर अऩीऱ सं./Ita No.110/Ctk/2018 (नििाारण वषा / Assessment Year :2014-2015) Asst.Cit, Corporate Circle- Vs. National Aluminium Company 1(2), Bhubaneswar Limited, Nalco Bhavan, P/1, Nayapalli, Bhubaneswar स्थायी ऱेखा सं./ Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & Cross Objection No.30/Ctk/2018 (Arising Out Of Ita No.110/Ctk/2018) (नििाारण वषा / Assessment Year :2014-2015) National Aluminium Company Vs. Asst.Cit, Corporate Circle- Limited, 1(2), Bhubaneswar Nalco Bhavan, P/1, Nayapalli, Bhubaneswar स्थायी ऱेखा सं./ Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri B.K.Mahapatra, Ar राजस्व की ओर से /Revenue By : Shri Piyush Kolhe, Cit Dr सुनवाई की तारीख / Date Of Hearing : 05/09/2019 घोषणा की तारीख/Date Of Pronouncement : 23/09/2019 आदेश / O R D E R Per L.P.Sahu, Am: These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objection By The Assessee, Against The Order Of The Cit(A)-1, Bhubaneswar, Dated 21.12.2017 For The Assessment Year 2014-2015. Co No.30/Ctk/2018

d) above, in any case as per Board Circular which recognizes that an assessee can have two portfolios, one Investment and other trading, the ignoring and discarding of the aforesaid Loss under Long term Capital Gains of Rs.l3,75,90,268/- and the treatment of the aforesaid Gains including Short term Capital Gains of Rs.67,67,666/-, as 'Business income

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

In the result, both appeals of the assessee are dismissed

5-1- 1978 to submit that the payment of a sum by one charitable trust to another for utilisation by the done trust towards its charitable objects is proper application of income for charitable purpose in the hands of the done trust; and the donor trust will not lose exemption under section 11 of the Income-tax Act, 1961, merely

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

In the result, both appeals of the assessee are dismissed

5-1- 1978 to submit that the payment of a sum by one charitable trust to another for utilisation by the done trust towards its charitable objects is proper application of income for charitable purpose in the hands of the done trust; and the donor trust will not lose exemption under section 11 of the Income-tax Act, 1961, merely

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

D E R PER KHETTRA MOHAN ROY, AM: This appeal by the assessee is directed against the order of Ld. Commissioner of Income Tax (Appeals)/NFAC, Delhi, dated 11/03/2025 passed under section 250 of the Income Tax Act, 1961 (for short, “Act”) which is arising out of assessment order passed u/s. 143(3) r.w.s 147 of the Act, dated

REGIONAL COLLEGE OF ENGINEERING & MANAGEMENT,BHUBANESWAR vs. ITO, WARD-2(2), BHUBANESWAR

In the result, appeal of the assessee is allowed

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.94/Ctk/2016 (नििाारण वषा / Assessment Year :2008-2009 Regional College Of Engineering & Vs. Ito Ward-2(2), Bhubaneswar Management, Plot No.18, Sector-A, Zone-B, Mancheswar Industrial Estate, Bhubaneswar-751010 Pan No. : Aaaar 1386 H (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri Sunil Mishra, Advocate राजस्व की ओर से /Revenue By : Shri Subhendu Datta, Dr सुनवाई की तारीख / Date Of Hearing : 20/08/2020 घोषणा की तारीख/Date Of Pronouncement : 21/08/2020 आदेश / O R D E R Per L.P.Sahu, Am: This Is An Appeal Filed By The Assessee Against The Order Of The Cit(A)-3, Bhubaneswar, Dated 28.12.2015 For The Assessment Year 2008-2009, On The Following Grounds Of Appeal :- 1. That, The Learned Cit (A) Has Committed Serious Error In Not Allowing The Appeal Of The Appellant Against The Order Of The Learned Ao Passed U/S 154 Of The Income Tax Act Dated 15.10.2014 . 2. That, The Learned Cit (A) Has Committed Serious Error In Not Accepting That The Denial Of "Emption To A Charitable Trust Granted Registration U/S 12Aa Of The Income Tax Act Is A Mistake Apparent From Record As Envisaged U/S 154 Of The Income Tax Act, 1961. 3. That, The Learned Cit (A) Has Committed Serious Error In Holding That The Mistake Of Disallowance For Violation Of Provision Of Section 40(A)(Ia) Of The Income Tax Act Is Not A Mistake Apparent From Record In The Case Of A Charitable Trust Registered U/S 12Aa Of The Income Tax Act.

Capital gains v) Income from other sources. 7.1. Now, let us examine Section 11 and Section 40 to decide this controversy. Section 11 to 13 is a part of Chapter 3 under the heading "Income which does not form the part of the total income". Section 11 (1) provides that "subject to the provisions of Section

MR. MANOJ KUMAR NAYAK,BHUBANESWAR vs. DDIT, INTERNATIONAL TAXATION, BHUBANESWAR, BHUBANESWAR

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

D E R Per Shri Pavan Kumar Gadale, JM: This is an appeal filed by the assessee against the order of CIT(A)- I, Bhubaneswar, dated 24.07.2014, passed in I.T.Appeal No.0271/13-14, for the assessment year 2011-2012. 2. Earlier this appeal was disposed off by this Tribunal vide order dated 31.11.2015. Thereafter on miscellaneous application filed by the Department, this