KANDOI AUTOMOBILES PVT. LTD.,CUTTACK vs. PRINCIPAL COMMISSIONER OF INCOME TAX, CUTTACK

In the result, appeal of the assessee is allowed

14, it is clear that direction has been given to the AO for holding the rental income of Rs.24,69,840/- as income from house property, however, there is no doubt raised about the expenditure claimed by the assessee in its profit and loss account, therefore, if the said expenditures are allowed and further deduction at the rate

KANAK BHANJ DEO,BHUBANESWAR vs. ITO, WARD-5(3), BHUBANESWAR

In the result, appeal of the assessee is dismissed

Bench: Shri George Mathan & Shri Manish Agarwalआयकर अऩीऱ सं/Ita No.21/Ctk/2024 (ननधाारण वषा / Assessment Year : 2017-2018) Kanak Bhanj Deo, Vs Ito, Ward-5(3), Bhubaneswar Plot No.2093/3341, Lane-5, Jaydev Vihar, Bhubaneswar, Odisha-751013 Pan No. :Angpb 4721 Q (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri N.R.Biswal, Ca राजस्व की ओर से /Revenue By : Shri S.C.Mohanty, Sr. Dr सुनवाई की तारीख / Date Of Hearing : 10/07/2024 घोषणा की तारीख/Date Of Pronouncement : 10/07/2024 आदेश / O R D E R Per Bench : This Is An Appeal Filed By The Assessee Against The Order Of The Ld. Cit(A), National Faceless Appeal Centre (Nfac), Delhi, Dated 16.11.2023, In Din & Order No.Itba/Nfac/S/250/2023- 24/1058002817(1) For The Assessment Year 2017-2018. 2. Brief Facts Of The Case Are That The Assessee Has Entered Into Joint Development Agreement (Jda) With The Builder On 13.01.2012 & Further Executed A Distribution Agreement On 05.11.2014 According To Which The Land Of The Assessee Was Given To The Developer For Construction Of Multistoried Building & As Per Distribution Agreement, In Consideration The Assessee Is Entitled For 26% Area In The Constructed Building. During The Impugned Year The Assessee Has Got Four Flats Having Total Area Of 4220.23 Sq.Ft. (Including 92.85 Sq.Ft. Additional Area) As The Sale Consideration Being 26% Of The Newly Constructed Building. Out Of The Said

property.] Explanation. - For the purposes of this section,- [ (i) omitted by Act 11 of 1987, Section 23 (w.e.f. 1.4.1988).] [* * *] net consideration", in relation to the transfer of a capital asset, means the full value of the consideration received or accruing as a result of the transfer of the capital asset as reduced by any expenditure incurred wholly and exclusively

DCIT,CORPORATE CIRCLE-1(1), BHUBANESWAR vs. M/SD. SRB CONSULTANCY (P) LIMITED, BHUBANESWAR

In the result, appeal of the revenue is dismissed and cross objections of the assessee are partly allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpia

House Property. 4. For that when the forums below including the CIT (A) has accepted the vehicles (as reflected in the Fixed Asset Schedule) to be owned by the respondent company 8& failed to bring any material into record pointing any evidence of personal use 8s the depreciation have been allowed on year to year, the present estimated disallowance

DCIT, CORPORATE CIRCLE -1(2), BHUBANESWAR vs. M/S. POSCO INDIA PRIVATE LIMITED, BHUBANESWAR

In the result, appeal filed by the revenue and cross objection filed by the assessee is dismissed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaassessment Year : 2015-16 Dcit, Corporate Circle Dcit, Corporate Circle-1(2), Vs. M/S. Posco India Pvt Ltd., M/S. Posco India Pvt Ltd., Bhubaneswar. Bhubaneswar. Ground Floor, Fortune Towers, Ground Floor, Fortune Towers, Zone-6, 6, Chandrasekharpur, Chandrasekharpur, Bhubaneswar. Bhubaneswar. Pan/Gir No. No.Aadcp 6735 B (Appellant (Appellant) .. ( Respondent Respondent) C.O.No.09/Ctk/2020 (In Ita No.423/Ctk/2019) (In Ita No.423/Ctk/2019) Assessment Year : 2015-16 M/S. Posco India Pvt Ltd., M/S. Posco India Pvt Ltd., Vs. Dcit, Corporate Circle Dcit, Corporate Circle-1(2), Ground Floor, Fortune Towers, Ground Floor, Fortune Towers, Bhubaneswar Bhubaneswar Zone-6, 6, Chandrasekharpur, Chandrasekharpur, Bhubaneswar. Bhubaneswar. Pan/Gir No.Aadcp 6735 B Pan/Gir No.Aadcp 6735 B (Appellant (Appellant) .. ( Respondent Respondent)

house property. Likewise,a company may P a g e 11 | 16 C.O.No.09/CTK/2020 Assessment Year : 2015-16 have income from other sources.................The company may also, as in that case, keep the surplus funds in short-term deposits in order to earn interest. Such interest will be chargeable under section 56 of the Income-tax Act". Subsequently

SMT. PURNIMA DAS,BHUBANESWAR vs. PR. CIT-1,, BHUBANESWAR

Bench: S/Shri George Mathan & Arun Khodpiaassessment Year : 2017-18 Smt. Purnima Das, C/O. Vs. Pr. Cit, Bhubaneswar-1. Biswajit Das, At-9, Budha Nagar, Budheswari, Bhubaneswar. Pan/Gir No.Aazpd0112 B (Appellant) .. ( Respondent) Assessee By : Shri P.K.Mishra, Ar Revenue By : Shri M.K.Gautam, Cit Dr Date Of Hearing : 16/02/2023 Date Of Pronouncement : 16/02/2023 O R D E R Per Bench This Is An Appeal Filed By The Assessee Against The Order Of The Ld Pr.Cit Passed U./S.263 Of The Act, Dated 12.3.2022 In Appeal No. Itba/Rev/F/Reev5/2021-22/10540634159(1) For The Assessment Year 2017-18. 2. Shri P.K.Mishra, Ld Ar Appeared For The Assessee Assisted By Ms.Sugyanee Kuanr & Ms. Simran Samal, Intern From Birla School Of Law (Bgu), Bhubaneswar & Shri M.K.Gautam, Ld Cit Dr Appeared For The Revenue Assisted By Shri Dharmashoka Panda, Intern From Birla School Of Law (Bgu), Bhubaneswar. 3. It Was Submitted By Ld Ar That The Assessee Is An Individual, Who Is A Professor Of Mathematics At P.N.College, Khurda. The Assessee Had Filed Her Return Of Income For The Relevant Assessment Year On 5.8.2017

section 2 n (14). Therefore, the receipt arising out of sale proceeds from such agricultural land are exempted from tax. Therefore, the claim of exemption by the Assessee being true and correct, needs to b€ accepted and it is requested not to draw any adverse inference on this issue. P a g e 5 | 47 Assessment Year

SHRI MAHESH KUMAR AGARWAL,SUNDARGARH vs. DCIT, CENTRAL CIRCLE-2, BHUBANESWAR

In the result, assessee’s appeal in the case of Mahesh

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am It(Ss)A No.117-119/Ctk/2018 ( Assessment Years :2011-2012 To 2013-2014) Mahesh Kumar Agarwal, Vs Dcit, Central Circle-2, Plot No.O-10, Civil Township, Bhubaneswar Rourkela, Sundargarh-769004 Pan No. : Abdpa 8307 Q & It(Ss)A No.146&147/Ctk/2018 (Assessment Years :2011-2012 & 2012-2013) Dcit, Central Circle-2, Vs Mahesh Kumar Agarwal, Bhubaneswar Plot No.O-10, Civil Township, Rourkela, Sundargarh-769004 Pan No. : Abdpa 8307 Q & It(Ss)A No.44/Ctk/2018 (नििाारण वषा / Assessment Year :2011-2012) Smt. Sanju Agarwal, Vs Dcit, Central Circle-2, Plot No.O-10, Civil Township, Bhubaneswar Rourkela, Sundargarh-769004 Pan No. : Aavpa 4328 C (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri S.M.Surana, Ar िाजस्व की ओर से /Revenue By : Shri M.K.Gautam, Citdr सुनवाई की तािीख / Date Of Hearing : 22/10/2021 घोषणा की तािीख/Date Of Pronouncement : 10/01/2022 आदेश / O R D E R Per Bench: In The Above Captioned Seven Appeals, Five Appeals Have Been Filed By Two Different Assessees & Two Appeals Have 2 It(Ss)A Nos.44/Ctk/2018 It(Ss)A Nos.117-119/Ctk/2018 It(Ss)A Nos.146&147/Ctk/2018 & Ita No.382/Ctk/2018 Been Filed By The Department Which Are Directed Against The Separate Orders Of Cit(A)-2, Bhubaneswar, All Dated 31.01.2018 For The Assessment Years 2011-2012, 2012-2013, 2013-2014 & 2014-2015, Respectively.

14 IT(SS)A Nos.44/CTK/2018 IT(SS)A Nos.117-119/CTK/2018 IT(SS)A Nos.146&147/CTK/2018 & ITA No.382/CTK/2018 ix.) The provisions of section 142(2A) of the Act are totally different. The same is evident from the Proviso to section 142(2C) and Explanation (ii) to section 153B. Hence the judgements rendered in context of section 142(2A). shall not be applicable

JAY KISHORE CHOUBEY,RAIRANGPUR vs. ACIT, CIRCLE-1, ASANSOL

In the result, appeal of the assessee stands allowed

Bench: Before S/Shri George Mathan, Judicial & Girish Agrawalassessment Year : 2010-2011 2011 Jay Jay Kishore Kishore Choubey, Choubey, Vs. Acit, Circle Acit, Circle-1, Asansol. Rairangpur Bazar, Rairangpur, Rairangpur Bazar, Rairangpur, Mayurbhanj. Pan/Gir No. Pan/Gir No.Acmpc 1759 N (Appellant) .. ( Respondent Respondent) Assessee By : Shri P.R.Mohanty P.R.Mohanty, Adv Revenue By : Shri Charan Das, Sr. Das, Sr. Dr Date Of Hearing : 29/11 11/2023 Date Of Pronouncement : 29/11 /11/2023 O R D E R Per Bench

House Property under section 24(a) Rs. 1,48,031 3. Depreciation under section 32 Rs.1,89,824 The condition precedent to the exercise of the jurisdiction under section 147 is the formation of a reason to believe by the Assessing P a g e 3 | 15 Assessment Year : 2010-2011 Officer. Upon the formation of the reason to believe

SATYARANJAN CHAND,BHUBANESWAR vs. DCIT CIRCLE -2(1), BHUBANESWAR

In the result, appeal of the assessee stands dismissed

Bench: Before Shri George Mathan, Judicialassessment Year : 2015-16 Satyaranjan Satyaranjan Chand, Chand, Plot Vs. Dy. Dy. Commissioner Commissioner Of Of 3Rd No.Ga-722, 722, 3 Floor, Income Income Tax, Tax, Circle Circle-2(1), Kalinga Nagar, K Kalinga Nagar, K-3-B, Po: Bhubaneswar Bhubaneswar Ghatikia, Bhubaneswar. Ghatikia, Bhubaneswar. Pan/Gir No. Pan/Gir No.Aajpc 7891 A (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri S.K.Agrawal Walla, Ca Revenue By : Shri S.C.Mohanty, S.C.Mohanty, Sr Dr Date Of Hearing : 15/11 11/2023 Date Of Pronouncement : 15/11 /11/2023 O R D E R

section 64(1)(iv) will not operate to nullify gift and would operate only to club income in the hands of donor assessee. 14. At this juncture, it is also relevant to note that the assessee is the owner of only one property i.e. JPH-03, Central Park, Sector 4, having 50% of share as per conveyance deed available

PARADIP PORT AUTHORITY,JAGATSINGHPUR vs. DCIT,CIRCLE1(1), CUTTACK

In the result, all the three appeals of the assessee are allowed

property held under trust wholly for charitable purposes of 10 ITA Nos.208-210/CTK/2024 religious purposes shall not be included in the total income to the extent to which it is applied for such purposes in India and where it is accumulated for such application to the extent whichever is higher. The exemption of accumulated income to the extent

PARADIP PORT AUTHORITY,JAGATSINGHPUR vs. DCIT,CIRCLE-1(1), CUTTACK

In the result, all the three appeals of the assessee are allowed

property held under trust wholly for charitable purposes of 10 ITA Nos.208-210/CTK/2024 religious purposes shall not be included in the total income to the extent to which it is applied for such purposes in India and where it is accumulated for such application to the extent whichever is higher. The exemption of accumulated income to the extent

PARADIP PORT AUTHORITY,JAGATSINGHPUR vs. DCIT,CIRCLE-1(1), CUTTACK

In the result, all the three appeals of the assessee are allowed

property held under trust wholly for charitable purposes of 10 ITA Nos.208-210/CTK/2024 religious purposes shall not be included in the total income to the extent to which it is applied for such purposes in India and where it is accumulated for such application to the extent whichever is higher. The exemption of accumulated income to the extent

ROLAND EDUCATIONAL & CHARITABLE TRUST,GANJAM vs. CHEIF CIT, BHUBANESWAR

Appeals are allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

14 -: ITA No. 368/CTK/2019 and others Roland Educational & Charitable Trust, Berahampur …… (vi) any university or other educational institution existing solely for educational purposes and not for purposes of profit, other than those mentioned in sub- clause (iiiab) or sub-clause (iiiad) and which may be approved by the prescribed authority;‖ 18. A cursory look at section

ROLAND EDUCATIONAL & CHARITABLE TRUST,GANJAM vs. CHEIF CIT, BHUBANESWAR

Appeals are allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

14 -: ITA No. 368/CTK/2019 and others Roland Educational & Charitable Trust, Berahampur …… (vi) any university or other educational institution existing solely for educational purposes and not for purposes of profit, other than those mentioned in sub- clause (iiiab) or sub-clause (iiiad) and which may be approved by the prescribed authority;‖ 18. A cursory look at section

ROLAND EDUCATIONAL & CHARITABLE TRUST,GANJAM vs. CHEIF CIT, BHUBANESWAR

Appeals are allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

14 -: ITA No. 368/CTK/2019 and others Roland Educational & Charitable Trust, Berahampur …… (vi) any university or other educational institution existing solely for educational purposes and not for purposes of profit, other than those mentioned in sub- clause (iiiab) or sub-clause (iiiad) and which may be approved by the prescribed authority;‖ 18. A cursory look at section

ROLAND INSTITUTE OF PHARMACEUTICAL SCIENCES,GANJAM vs. CHEIF CIT, BHUBANESWAR

Appeals are allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

14 -: ITA No. 368/CTK/2019 and others Roland Educational & Charitable Trust, Berahampur …… (vi) any university or other educational institution existing solely for educational purposes and not for purposes of profit, other than those mentioned in sub- clause (iiiab) or sub-clause (iiiad) and which may be approved by the prescribed authority;‖ 18. A cursory look at section

ROLAND EDUCATIONAL & CHARITABLE TRUST,GANJAM vs. CHEIF CIT, BHUBANESWAR

Appeals are allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

14 -: ITA No. 368/CTK/2019 and others Roland Educational & Charitable Trust, Berahampur …… (vi) any university or other educational institution existing solely for educational purposes and not for purposes of profit, other than those mentioned in sub- clause (iiiab) or sub-clause (iiiad) and which may be approved by the prescribed authority;‖ 18. A cursory look at section

ROLAND INSTITUTE OF PHARMACEUTICAL SCIENCES,GANJAM vs. CHEIF CIT, BHUBANESWAR

Appeals are allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

14 -: ITA No. 368/CTK/2019 and others Roland Educational & Charitable Trust, Berahampur …… (vi) any university or other educational institution existing solely for educational purposes and not for purposes of profit, other than those mentioned in sub- clause (iiiab) or sub-clause (iiiad) and which may be approved by the prescribed authority;‖ 18. A cursory look at section

ROLAND INSTITUTE OF PHARMACEUTICAL SCIENCES,GANJAM vs. CHEIF CIT, BHUBANESWAR

Appeals are allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

14 -: ITA No. 368/CTK/2019 and others Roland Educational & Charitable Trust, Berahampur …… (vi) any university or other educational institution existing solely for educational purposes and not for purposes of profit, other than those mentioned in sub- clause (iiiab) or sub-clause (iiiad) and which may be approved by the prescribed authority;‖ 18. A cursory look at section

ROLAND INSTITUTE OF PHARMACEUTICAL SCIENCES,GANJAM vs. CHEIF CIT, BHUBANESWAR

Appeals are allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

14 -: ITA No. 368/CTK/2019 and others Roland Educational & Charitable Trust, Berahampur …… (vi) any university or other educational institution existing solely for educational purposes and not for purposes of profit, other than those mentioned in sub- clause (iiiab) or sub-clause (iiiad) and which may be approved by the prescribed authority;‖ 18. A cursory look at section