DCIT, CIRCLE-1(1), BHUBANESWAR, BHUBANESWAR vs. M/S. PARADEEP PHOSPHATES LIMITED, BHUBANESWAR

In the result, appeal filed by the revenue is dismissed and that of

Bench: S/Shri N.S Saini & Pavan Kumar Gadaleassessment Year : 2010-2011

C) of the Income Tax Act, 1961. Copy of the aforesaid Order is enclosed and marked as Annexure-1 for your kind reference. The Statutory Audit and the Tax Audit of the Company have been carried out by M/s. S.P. Batliboi & Associates, Kolkata and the Tax Audit report by our auditors clearly specifies that there is no addition required

TRIJAL ENTERPRISES,BHUBANESWAR vs. ACIT, CIRCLE- 4(1), BHUBANESWAR

Bench: S/Shri George Mathan & Arun Khodpiaassessment Year : 2016-17 Trijal Enterprises, Hall No.6, Vs. Acit, Circle-4(1), Fourth Floor, Bmc Bhawani Bhubaneswar Coom. Complex, Saheed Nagar, Bhubaneswar. Pan/Gir No.Aakft 6687 L (Appellant) .. ( Respondent) Assessee By : Shri P.K.Mishra,Ca P.K.Panda, Ars Revenue By : Shri M.K.Gautam, Cit Dr Date Of Hearing : 15/11/2022 Date Of Pronouncement : 15/11/2022 O R D E R Per Bench This Is An Appeal Filed By The Assessee Against The Order Of The Ld Cit(A)-1, Bhubaneswar Dated 22.6.2020 In Appeal No.0366/2018-19 For The Assessment Year 2016-17. 2. It Was Submitted By Ld Ar That The Assessee Is A Partnership Firm. The Partnership Firm Was Originally Constituted By Partnership Deed Dated 1.11.2015, Wherein, There Were Two Partners Namely; Shri Rajesh Polaki & Sri Malchit Chetan Kumar Patra. The Said Partnership Did Not Do Any Business. The Partnership Was Constituted For The Purpose Of Doing The Business Of Gold Jewellery. The Partnership Was Reconstituted On 1.3.2016, P A G E 1 | 37 Assessment Year : 2016-17

12. We feel tempted in taking an extract from the decision of this Court in Hardwarmal's case (supra) where Untwalia, J. speaking for the Bench said thus: "There was no provision in the Indian Income Tax Act, 1922, corresponding to section 68 of the Act. Section 68, however, was enacted, as it appears, mainly to give

SYLVESA INFOTECH PRIVATE LIMITED,BHUBANESWAR vs. ITO WARD -1(1), BHUBANESWAR

Section 139(1) for AY 2014-15 could not be filed\ndue to management disturbances. Notice U/s 148 dated\n28.07.2022 was issued to the assessee alleging that the return of\nincome for the impugned AY has not been filed by the assessee\nthough there are credits of Rs. Rs. 11,73,40,969/-in the bank\naccounts

PURNA CHANDRA BISWAL,JAJPUR vs. PRINCIPAL CIT, CUTTACK

In the result, appeal of the assessee is partly allowed

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अपीऱ सं./Ita No.200/Ctk/2018 (नििाारण वषा / Assessment Year :2013-2014) Sri Purna Chandra Biswal, Vs. Principal Cit, Cuttack Jakhapura, Jajpur-755019 स्थायी लेखा सं./Panno. : Aclpb 1493 P (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri S.K.Sarangi, Ar िाजस्व की ओर से /Revenue By : Shri S.M.Keshkamat, Citdr

section 68, there is requirement of presence of books of accounts, which is not there in the case of appellant. 5. That the Appellant craves leave to add, alter, amend, modify, substitute, delete and or rescind all or any of the Grounds of Appeal on or before the final hearing, if necessity so arises. The Appeal may be allowed

THE KORAPUT CENTRAL COOPERATIVE BANK LTD,JEYPORE, KORAPUT vs. ACIT,CIRCLE-1(1), SAMBALPUR

In the result, appeal of the assessee is allowed

Section 271(1)(c) when it is a sine qua non for initiation or proceedings, the penalty proceedings should be confined only to those grounds and the said grounds have to be specifically stated so that the assessee would have the opportunity to meet those grounds. After, he places his version and tries to substantiate his claim

M/S. VISION HABITATE & SERVICES PVT. LTD.,SAMBALPUR vs. PR. CIT, SAMBALPUR

In the result, the appeal of assessee is allowed

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.214/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Vision Habitate & Services Vs. Pr. Cit, Sambalpur-768004 Private Limited, Kadambari Complex, Gole Bazar, Sambalpur-768001 Pan No. : Aadcn 4768 J (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri B.N.Agrawal/Binod Agrawal, Ars राजस्व की ओर से /Revenue By : Shri M.K.Gautam, Citdr सुनवाई की तारीख / Date Of Hearing : 25/08/2020 घोषणा की तारीख/Date Of Pronouncement : 31/08/2020 आदेश / O R D E R Per L.P.Sahu, Am: This Is An Appeal Filed By The Assessee Against The Order Passed By The Pr.Cit, Sambalpur, Dated 30.03.2019 For The A.Y.2014-2015 On The Following Grounds :- 1. That The Order U/S. 263 Is Bad In Law As Well As In Facts. 2. That The Order U/S. 263, Stated To Have Been Passed On 30.03.2019, Is Ante Dated & Barred By Limitation, Being Issued & Served Upon The Appellant On 30.04.2019, Which Is After The Expiry Of Period Of Limitation On 31.03.2019. 3. That The Assessment Order Dt.29.12.2016 Making An Addition Of Rs.27,51,100 To The Returned Income U/S.56(2)(Viib) Consequent Upon Valuation Of Book Value Of 4,510 Nos. Of Equity Shares @ Rs.739 Per Share As On 31.03.2013 Allotted On 31.03.2014 @ Rs.1,349 Per Share. Thus, The Difference Of Rs.610 Per Share Multiplied By 4,510 Nos. Of Shares Allotted Coming To Rs.27,51,100 Has Been Added As Above By The Id. Ao. The Said Valuation & The Consequential Addition Has Been Disputed By The Appellant In The Appeal In Form No.35 E-Filed Before The Id.

68). Non-applicability of See«56f 21fvfi&) as per explanatory memorandum to Finance Act 2012 The Appellant does not come within the mischief of the above provision as manifest from cursory look to explanatory memorandum to Finance Act, 2012 by which the said provision was brought into the law and the share premium Is a clean money

DY.CIT(EXP), BHUBANESWAR vs. M/S. ORISSA COMPUTER ACADEMY, BHUBANESWAR

In the result, appeals filed by the revenue and cross objections of the

Bench: S/Shri P.M. Jagtap & C.M. Garg

12 and provisions of section 13 had come up for consideration in the appeals filed by the assessee and the Tribunal has decided the issue and held as under: “5. The brief facts of the case are that the Assessing officer observed that the main source of income of the assessee was from fees from students since

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

1. That on the facts, and in the circumstances of the case and in law, the Ld. CIT(A) erred in confirming disallowance of Rs. 47,61,689/- made u/s. 14A r.w.r 80 being expenses incurred for earning exempt dividend income without appreciating the fact that assessee's own interest free funds was exceeding the investment made for earning exempted

DIBYAJYOTI CHEMICALS PVT. LTD.,DHENKANAL vs. DCIT, CIRCLE-1(1), BHUBANESWAR

In the result, appeal of the assessee in ITA No

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahu

1 | 9 ITA No.51/ CTK/2016 ITA No.320/CT K/2018 Asse ssment Year : 20 11- 12 CIT(A) erred in confirming the addition of Rs.8,00,000/- on account of unexplained cash credit u/s.68 of the Act. 4. Facts in brief as emanated from the orders of lower authorities are that during the course of assessment proceedings, the Assessing officer noticed that

DIBYAJYOTI CHEMICALS PVT. LTD.,DHENKANAL vs. DCIT, CIRCLE-1(1), BHUBANESWAR

In the result, appeal of the assessee in ITA No

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahu

1 | 9 ITA No.51/ CTK/2016 ITA No.320/CT K/2018 Asse ssment Year : 20 11- 12 CIT(A) erred in confirming the addition of Rs.8,00,000/- on account of unexplained cash credit u/s.68 of the Act. 4. Facts in brief as emanated from the orders of lower authorities are that during the course of assessment proceedings, the Assessing officer noticed that

MR. TAPAN KUMAR BHUYAN,SALEPUR vs. ITO, WARD-1(1), CUTTACK

In the result, appeals of the assessee stands partly allowed for statistical purposes

Bench: Before Shri George Mathan, Judicialita Nos.120 To 123/Ctk/20 /Ctk/2023 Assessment Years : 2011-12 To 2014 12 To 2014-15 Mr Tapan Kumar Bhuyan, Mr Tapan Kumar Bhuyan, Vs. Income Ta Income Tax Officer, Ward- Chandradeipur, Chandradeipur, Salepur, Salepur, 1(1), Cuttack Cuttack Pan/Gir No. Pan/Gir No.Adopb 5206 C (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri Samir Ranjan Dash Dash, Ar Revenue By : Shri S.C.Mohanty : Shri S.C.Mohanty, Sr Dr Date Of Hearing : 07/08 8/2023 Date Of Pronouncement : 07/0 /08/2023 O R D E R These Are These Are Appeals Filed By The Assessee Against The Filed By The Assessee Against The Separate Orders Of Of The The Ld Ld Cit(A) Cit(A), Nfac, Delhi All Dated10.01.2023 10.01.2023 In Appeal No.Itba/Nfac/S/250/2022 Itba/Nfac/S/250/2022-23/1048586596(1),Itba/Nfac/S/250/2022 23/1048586596(1),Itba/Nfac/S/250/2022- 23/1048587277(1),Itba/Nfac/S/250/2022 23/1048587277(1),Itba/Nfac/S/250/2022-23/104858788161) 23/104858788161) & Itba/Nfac/S/250/2022 C/S/250/2022-23/1048588097(1) For The Assessment Years 2011 23/1048588097(1) For The Assessment Years 2011- 12 To 2014-15, Respectively. 15, Respectively.

1), Cuttack has reassessed the income of the petitioner as per the assessment order dated 19.12.2018. A. Assessee has failed to declare the head “income from other sources”, on its opening balance of with society as on 31.3.2021, and interest if any earned. B. Assessee has failed to explain the source of fresh deposit

MR. TAPAN KUMAR BHUYAN,SALEPUR vs. ITO, WARD-1(1), CUTTACK

In the result, appeals of the assessee stands partly allowed for statistical purposes

Bench: Before Shri George Mathan, Judicialita Nos.120 To 123/Ctk/20 /Ctk/2023 Assessment Years : 2011-12 To 2014 12 To 2014-15 Mr Tapan Kumar Bhuyan, Mr Tapan Kumar Bhuyan, Vs. Income Ta Income Tax Officer, Ward- Chandradeipur, Chandradeipur, Salepur, Salepur, 1(1), Cuttack Cuttack Pan/Gir No. Pan/Gir No.Adopb 5206 C (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri Samir Ranjan Dash Dash, Ar Revenue By : Shri S.C.Mohanty : Shri S.C.Mohanty, Sr Dr Date Of Hearing : 07/08 8/2023 Date Of Pronouncement : 07/0 /08/2023 O R D E R These Are These Are Appeals Filed By The Assessee Against The Filed By The Assessee Against The Separate Orders Of Of The The Ld Ld Cit(A) Cit(A), Nfac, Delhi All Dated10.01.2023 10.01.2023 In Appeal No.Itba/Nfac/S/250/2022 Itba/Nfac/S/250/2022-23/1048586596(1),Itba/Nfac/S/250/2022 23/1048586596(1),Itba/Nfac/S/250/2022- 23/1048587277(1),Itba/Nfac/S/250/2022 23/1048587277(1),Itba/Nfac/S/250/2022-23/104858788161) 23/104858788161) & Itba/Nfac/S/250/2022 C/S/250/2022-23/1048588097(1) For The Assessment Years 2011 23/1048588097(1) For The Assessment Years 2011- 12 To 2014-15, Respectively. 15, Respectively.

1), Cuttack has reassessed the income of the petitioner as per the assessment order dated 19.12.2018. A. Assessee has failed to declare the head “income from other sources”, on its opening balance of with society as on 31.3.2021, and interest if any earned. B. Assessee has failed to explain the source of fresh deposit

MR. TAPAN KUMAR BHUYAN,SALEPUR vs. ITO, WARD-1(1), CUTTACK

In the result, appeals of the assessee stands partly allowed for statistical purposes

Bench: Before Shri George Mathan, Judicialita Nos.120 To 123/Ctk/20 /Ctk/2023 Assessment Years : 2011-12 To 2014 12 To 2014-15 Mr Tapan Kumar Bhuyan, Mr Tapan Kumar Bhuyan, Vs. Income Ta Income Tax Officer, Ward- Chandradeipur, Chandradeipur, Salepur, Salepur, 1(1), Cuttack Cuttack Pan/Gir No. Pan/Gir No.Adopb 5206 C (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri Samir Ranjan Dash Dash, Ar Revenue By : Shri S.C.Mohanty : Shri S.C.Mohanty, Sr Dr Date Of Hearing : 07/08 8/2023 Date Of Pronouncement : 07/0 /08/2023 O R D E R These Are These Are Appeals Filed By The Assessee Against The Filed By The Assessee Against The Separate Orders Of Of The The Ld Ld Cit(A) Cit(A), Nfac, Delhi All Dated10.01.2023 10.01.2023 In Appeal No.Itba/Nfac/S/250/2022 Itba/Nfac/S/250/2022-23/1048586596(1),Itba/Nfac/S/250/2022 23/1048586596(1),Itba/Nfac/S/250/2022- 23/1048587277(1),Itba/Nfac/S/250/2022 23/1048587277(1),Itba/Nfac/S/250/2022-23/104858788161) 23/104858788161) & Itba/Nfac/S/250/2022 C/S/250/2022-23/1048588097(1) For The Assessment Years 2011 23/1048588097(1) For The Assessment Years 2011- 12 To 2014-15, Respectively. 15, Respectively.

1), Cuttack has reassessed the income of the petitioner as per the assessment order dated 19.12.2018. A. Assessee has failed to declare the head “income from other sources”, on its opening balance of with society as on 31.3.2021, and interest if any earned. B. Assessee has failed to explain the source of fresh deposit

MR. TAPAN KUMAR BHUYAN,SALEPUR vs. ITO, WARD-1(1), CUTTACK

In the result, appeals of the assessee stands partly allowed for statistical purposes

Bench: Before Shri George Mathan, Judicialita Nos.120 To 123/Ctk/20 /Ctk/2023 Assessment Years : 2011-12 To 2014 12 To 2014-15 Mr Tapan Kumar Bhuyan, Mr Tapan Kumar Bhuyan, Vs. Income Ta Income Tax Officer, Ward- Chandradeipur, Chandradeipur, Salepur, Salepur, 1(1), Cuttack Cuttack Pan/Gir No. Pan/Gir No.Adopb 5206 C (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri Samir Ranjan Dash Dash, Ar Revenue By : Shri S.C.Mohanty : Shri S.C.Mohanty, Sr Dr Date Of Hearing : 07/08 8/2023 Date Of Pronouncement : 07/0 /08/2023 O R D E R These Are These Are Appeals Filed By The Assessee Against The Filed By The Assessee Against The Separate Orders Of Of The The Ld Ld Cit(A) Cit(A), Nfac, Delhi All Dated10.01.2023 10.01.2023 In Appeal No.Itba/Nfac/S/250/2022 Itba/Nfac/S/250/2022-23/1048586596(1),Itba/Nfac/S/250/2022 23/1048586596(1),Itba/Nfac/S/250/2022- 23/1048587277(1),Itba/Nfac/S/250/2022 23/1048587277(1),Itba/Nfac/S/250/2022-23/104858788161) 23/104858788161) & Itba/Nfac/S/250/2022 C/S/250/2022-23/1048588097(1) For The Assessment Years 2011 23/1048588097(1) For The Assessment Years 2011- 12 To 2014-15, Respectively. 15, Respectively.

1), Cuttack has reassessed the income of the petitioner as per the assessment order dated 19.12.2018. A. Assessee has failed to declare the head “income from other sources”, on its opening balance of with society as on 31.3.2021, and interest if any earned. B. Assessee has failed to explain the source of fresh deposit

ORISSA COMPUTER ACADEMY,BHUBANESWAR vs. DCIT, CIRCLE-2(1), BHUBANESWAR

In the result, appeals filed by the assessee are allowed for statistical

Bench: S/Shri N.S Saini & Pavan Kumar Gadale

68,259/- 6. The Assessing Officer observed that the founding members are required to work to attend the objects of the trust and not to enrich has been misused for payment of remuneration. 7. The Assessing Officer further observed that according to the provisions of section 11(4), the running of educational institution is a business and not incidental

ORISSA COMPUTER ACADEMY,BHUBANESWAR vs. DCIT, CIRCLE-2(1), BHUBANESWAR

In the result, appeals filed by the assessee are allowed for statistical

Bench: S/Shri N.S Saini & Pavan Kumar Gadale

68,259/- 6. The Assessing Officer observed that the founding members are required to work to attend the objects of the trust and not to enrich has been misused for payment of remuneration. 7. The Assessing Officer further observed that according to the provisions of section 11(4), the running of educational institution is a business and not incidental

ORISSA COMPUTER ACADEMY,BHUBANESWAR vs. DCIT, CIRCLE-1(2), BHUBANESWAR

In the result, appeals filed by the assessee are allowed for statistical

Bench: S/Shri N.S Saini & Pavan Kumar Gadale

68,259/- 6. The Assessing Officer observed that the founding members are required to work to attend the objects of the trust and not to enrich has been misused for payment of remuneration. 7. The Assessing Officer further observed that according to the provisions of section 11(4), the running of educational institution is a business and not incidental

ARSS INFRASTRUCTURE PROJECTS LTD.,BHUBANESWAR vs. DCIT, CORPORATION CIRCLE- 1(1), BHUBANESWAR

In the result, appeal of the assessee is partly allowed

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahuassessment Year : 2012-2013

68,34,000/- towards interest expenses, out of which, following interest claimed as expenses were not deposited before due date of filing the return of income: Sl.No. Name of the bank Interest (Rs.) 1. IDBI Bank (OD) 7,29,844 2. IDBI Bank(Escrow) 1,64,376 3. SBI, Jajpur 6,46,001 4. Export Import Bank

DCIT (EXEMPTIONS), BHUBANESWAR vs. M/S. S.M.CHARITABLE EDUCATIONAL TRUST, BHUBANESWAR

In the result, appeals of the revenue are dismissed

Bench: S/Shri N.S Saini & Pavan Kumar Gadale

1)(c). Therefore, Rs.1,02,600/ is added back to total income, being misapplication of the trust fund. (iii) Donation:- During the year under consideration the trust incurred expense of Rs.11,20,000/- towards Donation & Subscription. On perusal of ledger copy of Donation & Subscription, it is seen that an amount of Rs. 10,00,000/- has been paid to Sankalp