MJSJ COAL LIMITED,ANGUL vs. ITO, WARD-2, DHENKANAL

Appeals of the assessee are allowed

Bench: Shri N.S.Saini, Am & Shri Pavan Kumar Gadale, Jm आयकर अपील सं./Ita Nos.429/Ctk/2016, 68/Ctk/2017 & 107/Ctk/2018 ("नधा"रण वष" / A.Ys :2011-2012, 2013-2014 & 2014-2015) Mjsj Coal Limited, Vs. Ito, Ward-2, Dhenkanal / At/Po:Balanda, Talcher, Ito, Ward-1(3), Bhubaneswar Dist-Angul, Odisha-759116 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aagcm 1095 E (अपीलाथ" /Appellant) (""यथ" / Respondent) .. "नधा"रती क" ओर से /Assessee By : Shri K.K.Bal, Ar राज"व क" ओर से /Revenue By : Shri Subhendu Dutta, Citdr सुनवाई क" तार"ख / Date Of Hearing : 28/08/2018 घोषणा क" तार"ख/Date Of Pronouncement 31/08/2018 आदेश / O R D E R Per Shri Pavan Kumar Gadale, Jm: These Are The Appeals Filed By The Assessee Against The Separate Orders Of Cit(A)-1&3, Bhubaneswar, Dated 28.04.2016, 04.11.2016 & 04.12.2017 Passed In I.T.Appeal Nos.0120/2014-15, 0472/15-16 & 0254/16-17, For The Assessment Years 2011-2012, 2013-2014 & 2014- 2015. 2. Since Issues The Above Appeals Are Common, Therefore, They Are Heard Together & Disposed Off By This Consolidated Order. For The Sake Of Convenience We Shall Take Up Assessee’S Appeal I.E. Ita No.429/Ctk/2016 For Assessment Year 2011-2012 & The Grounds & Facts Mentioned Therein, Wherein The Assessee Has Raised The Following Grounds Of Appeal :- Ground Of Appeal • We Are Not Agreeing With The Computation Of Tax On Interest Earn By Company Made By Assessing Officer. • During The Assessment, The Cases We Submitted To Justify Our Claim (As Mentioned In Statement Of Facts) Has Not Been Paid Any Emphasis For Deciding The Case By The A.0 & Cit (Appeal- 3),Bhubaneswar. On The Other Hand The A.0 & Cit (Appeal-3) Finally Imposed His Decision Based On The Facts Of Alkali Tuticorin Chem. & Fertilizers Ltd. In Which It Has Earned Interest On The Funds, Were Borrowed Funds Only

255 (Delhi), has held as under :- 3. We have heard the learned counsel for the parties at length. Following substantial question of law arises for our consideration : "Whether the Tribunal misdirected itself in law in holding that interest which accrued on funds deployed with the bank could be taxed as income from other sources and not as capital receipt liable

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)

255) (Delhi) which dealt with the interest receipts earned prior to the commencement of business, was held to be distinguishable on facts since it was not known if the interest receipts were earned prior to 'set up' too. v.) The judgment of the Fon'bie Mumbai High Court in the case of Shree Krishna Polyster

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

DCIT, CIRCLE-4(1), BHUBANESWAR vs. M/S. JAGANNATH CHAUDHURY, BHUBANESWAR

In the result, appeals of the revenue are dismissed

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahu

section 44AD and, therefore, he estimated the income @ 8% and treated the total receipt on account of interest receipt as income from other sources and added the same to the total income of the assessee. P a g e 2 | 9 ITA Nos.476 to 478/CTK/2017 Asse ssment Years : 2 012 -13 to 2 014 -15 4. Aggrieved, the assessee carried

MARUTI ESTATE (INDIA) PVT. LTD.,BHUBANESWAR vs. ACIT, CIRCLE-2(1), BHUBANESWAR

In the result, appeal of the assessee is allowed

Bench: S/Shri N.S Saini & Pavan Kumar Gadaleassessment Year : 2004-05

4. The brief facts of the case are that the Assessing Officer disallowed deduction of Rs.16,65,43/- claimed under section 80 IB of the Act for the following reasons: “The assessee had claimed deduction of Rs. 16,65,433/- u/s.80IB of the I.T.Act, 1961 in respect of its project at Patia, PO- Chandrasekharpur and at Ghatikia, PS-Khandagiri

DCIT CENTRAL CIRCLE-2, BHUBANESWAR vs. M/S. HOTEL SUKHAMAYA PVT. LTD, BHUBANESWAR

In the result, all the three appeals of the Revenue are dismissed

house property, business and profession and other sources and balance sheet was filed along with supportive financial statement. The Id AR's contention that the assessee was holding the cash for the business operations at Jaipur and there is no malafide intension and the said transaction was disclosed in the income tax return. Further the Id. AR emphasized that

DCIT CENTRAL CIRCLE-2, BHUBANESWAR vs. M/S. HOTEL SUKHAMAYA PVT. LTD, BHUBANESWAR

In the result, all the three appeals of the Revenue are dismissed

house property, business and profession and other sources and balance sheet was filed along with supportive financial statement. The Id AR's contention that the assessee was holding the cash for the business operations at Jaipur and there is no malafide intension and the said transaction was disclosed in the income tax return. Further the Id. AR emphasized that