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

20,000/. Therefore sundry creditors cannot be said to be bogus and no addition can be made as bogus creditors. It is further submitted that even if it is presumed that there were unconfirmed creditors, then whether the provision of section 68

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.

68 years, lives in a remote village Chandeipur about 20 KM from Salipur.The learned first appellate authority (NFAC), Delhi without considering the true facts of the matter, available documents, corresponding settled position of law etc., failed to apply his adjudicating skill and dismissed the appeal vide order dated. 10-01-2023. such order passed by the authority with a clear

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.

68 years, lives in a remote village Chandeipur about 20 KM from Salipur.The learned first appellate authority (NFAC), Delhi without considering the true facts of the matter, available documents, corresponding settled position of law etc., failed to apply his adjudicating skill and dismissed the appeal vide order dated. 10-01-2023. such order passed by the authority with a clear

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.

68 years, lives in a remote village Chandeipur about 20 KM from Salipur.The learned first appellate authority (NFAC), Delhi without considering the true facts of the matter, available documents, corresponding settled position of law etc., failed to apply his adjudicating skill and dismissed the appeal vide order dated. 10-01-2023. such order passed by the authority with a clear

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.

68 years, lives in a remote village Chandeipur about 20 KM from Salipur.The learned first appellate authority (NFAC), Delhi without considering the true facts of the matter, available documents, corresponding settled position of law etc., failed to apply his adjudicating skill and dismissed the appeal vide order dated. 10-01-2023. such order passed by the authority with a clear

M/S. NIYATI FOODS PRIVATE LIMITED,JHARSUGUDA vs. ACIT, CIRCLE-1(1), BHUBANESWAR

Bench: S/Shri N.S Saini & Pavan Kumar Gadaleassessment Year : 2006-2007

Section 68 applies equally to share application monies received by an assessee and burden is on assessee to prove nature and source thereof to satisfaction of Assessing Officer. It involves three ingredients, namely, Asse ssment Year : 20

OMM SHREE REALCON PVT. LTD,BHUBANESWAR vs. PR.CIT-1, BHUBANESWAR

In the result, appeal of the assessee stands allowed

Bench: Before S/Shri George Mathan, Judicial & And Rajesh Kumarassessment Year : 2018-19 Om Shree Realcon Pvt Ltd., Om Shree Realcon Pvt Ltd., Vs. Pr. Cit- Bhubaneswar Bhubaneswar-1 Plot No.418, Forest Park, 8, Forest Park, Bhubaneswar. Bhubaneswar. Pan/Gir No. Pan/Gir No.Aabco 3118 P (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri S.K.Sarangi, Ca S.K.Sarangi, Ca Revenue By : Shri M.K.Gautam, Pr. Cit (Osd) Pr. Cit (Osd) Date Of Hearing : 28 /0 06/2023 Date Of Pronouncement : 28 /0 /06/2023 O R D E R Per Bench

68 of the Act in respect of the unsecured loans taken by the assessee, it was submitted that these loans were the same amounts which have been treated by the Pr. CIT as being liable for deemed dividend. It was the submission that these loans had been specifically examined by the Assessing Officer in the course of ‘e’ assessment

SATYA NARAYAN PRADHAN,ANGUL vs. ITO, ANGUL WARD, ANGUL

In the result, appeal filed by the assessee is dismissed

Bench: Shri N.S Sainiassessment Year :2013-14

Section 68 of the Income-tax Act, 1961 - Cash credits (Cash deposits) -Assessment year 2007-08 - During assessment proceedings, Assessing Officer noticed that assessee had deposited huge amount of cash in his bank account -In view of failure of assessee to explain source of said deposits, Assessing Officer added Asse ssment Year :20

KALPANA MISHRA,BHUBANESWAR vs. ITO, WARD 5(4), BHUBANESWAR, BHUBANESWAR

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

Bench: Shri George Mathan & Shri Manish Agarwalआयकर अपील संसंसंसं/Ita No.491/Ctk/2024 (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Year : 2016-2017) वष" Kalpana Mishra, Vs Ito Ward-5(4), Bhubaneswar Plot No.B-87/A, Chandaka Industrial Estate, Patia, Bhubaneswar-751024 Pan No. :Alfpm 2864 E (अपीलाथ" अपीलाथ" अपीलाथ" /Appellant) अपीलाथ" (""यथ" ""यथ" ""यथ" / Respondent) ""यथ" .. िनधा"रती िनधा"रती क" िनधा"रती िनधा"रती क" क" ओर क" ओर ओर सेसेसेसे /Assessee By ओर : Shri B.R.Pattnaik, Ca राज"व राज"व क" राज"व राज"व क" क" ओर क" ओर ओर सेसेसेसे /Revenue By ओर : Shri S.C.Mohanty, Sr. Dr सुनवाई क" तारीख / Date Of Hearing : 28/01/2025 घोषणा क" तारीख/Date Of Pronouncement : 28/01/2025 आदेश आदेश / O R D E R आदेश आदेश Per Bench : This Is An Appeal Filed By The Assessee Against The Order Dated 07.03.2024, Passed By The Cit(A), National Faceless Appeal Centre (Nfac), Delhi In Din & Order No.Itba/Nfac/S/250/2023- 24/1062168195(1) For The Assessment Year 2016-2017, On The Following Grounds :- 1. Hon'Ble Cit(Appeals), Nfac Has Erred In Law & On Facts In Confirming The Action Of The Learned Ao Even Though The Learned Ao Has Exceeded His Jurisdiction In A Limited Scrutiny Case Selected Under Cass Only To Examine Whether The Investment & Income Relating To Securities Transactions Are Duly Disclosed Or Not & Added A Sum Of Rs.44,00,000.00 U/S 68 Of The Income Tax Act, 1961, Without Obtaining Prior Administrative Approval Of The Concerned Pr. Cit/Cit As Prescribed In Circular F. No. 225/402/2018/Ita.Ii, Dated 28- 11-2018 & Instruction No.5/2016 [F.No.225/269/2015-

section 68 only based on the assessee's passbook, which was not a book of account, would not be sustainable. This same view has also been held in the case of (a) Smt. Ramilaben B. Patel v. ITO [2018] 100 taxmann.com 325 (Ahmedabad Trib.) and (b) Kuldeep Jiwan Mahant v ITO [2023] 157 taxmann.com 532 (Raipur Trib

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

20,68,14,221/-\n10. Other receipts such as maturity from FDs, EMD Refund,\nBackend Received can be traced from bank Statements which is\ngiven in Pg no 209 of Paperbook. (The breakup of the same is\ngiven in Pg no 13 of Paperbook). Also requesting the kind attention\nto Pg no 32 of Paperbook, where the comparison

INCOME TAX OFFICER WARD-1 BARIPADA, BARIPADA vs. MAYURBHANJ CENTRAL COOPERATIVE BANK LIMITED, BARIPADA

In the result, appeal of the Revenue stands partly allowed for statistical purposes

Bench: Before Shri George Mathan, Judicial & Manish Agarwal Manish Agarwal

section 68 of the Act without appreciating the nature of the deposits. He further submitted that the assessee bank was not authorized to allow the exchange facility against the specified bank notes during the period from 15.11.2016 to 29.11.2016 and, therefore, the entire deposits received during this period in demonetized currency is unexplained money and deserves to be added

INCOME TAX OFFICER WARD-1, BARIPADA, BARIPADA vs. MAYURBHANJ CENTRAL COOPERATIVE BANK LIMITED, BARIPADA

In the result, appeal of the Revenue stands partly allowed for statistical purposes

Bench: Before Shri George Mathan, Judicial & Manish Agarwal Manish Agarwal

section 68 of the Act without appreciating the nature of the deposits. He further submitted that the assessee bank was not authorized to allow the exchange facility against the specified bank notes during the period from 15.11.2016 to 29.11.2016 and, therefore, the entire deposits received during this period in demonetized currency is unexplained money and deserves to be added

INCOME TAX OFFICER, WARD-1, BARIPADA, BARIPADA vs. MAYURBHANJ CENTRAL CO-OPERATIVE BANK LIMITED, BARIPADA

In the result, appeal of the Revenue stands partly allowed for statistical purposes

Bench: Before Shri George Mathan, Judicial & Manish Agarwal Manish Agarwal

section 68 of the Act without appreciating the nature of the deposits. He further submitted that the assessee bank was not authorized to allow the exchange facility against the specified bank notes during the period from 15.11.2016 to 29.11.2016 and, therefore, the entire deposits received during this period in demonetized currency is unexplained money and deserves to be added

INCOME TAX OFFICER, BARIPADA vs. MAYURBHANJ CENTRAL COOPERATIVE BANK LIMITED, BARIPADA

In the result, appeal of the Revenue stands partly allowed for statistical purposes

Bench: Before Shri George Mathan, Judicial & Manish Agarwal Manish Agarwal

section 68 of the Act without appreciating the nature of the deposits. He further submitted that the assessee bank was not authorized to allow the exchange facility against the specified bank notes during the period from 15.11.2016 to 29.11.2016 and, therefore, the entire deposits received during this period in demonetized currency is unexplained money and deserves to be added

INCOME TAX OFFICER, WARD-1, BARIPADA, BARIPADA vs. MAYURBHANJ CENTRAL CO-OPERATIVE BANK LIMITED, BARIPADA

In the result, appeal of the Revenue stands partly allowed for statistical purposes

Bench: Before Shri George Mathan, Judicial & Manish Agarwal Manish Agarwal

section 68 of the Act without appreciating the nature of the deposits. He further submitted that the assessee bank was not authorized to allow the exchange facility against the specified bank notes during the period from 15.11.2016 to 29.11.2016 and, therefore, the entire deposits received during this period in demonetized currency is unexplained money and deserves to be added

URMILA KISHAN,ANGUL vs. COMMISSIONER OF INCOME-TAX (APPEALS), NATIONAL FACELESS APPEAL CENTRE (NFAC)

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy(Kz) & Shri Rakesh Mishra

section 68 Bansal-Separators-and-Spares-Pvt-Ltd-Vs-ITO-ITAT-Mumbai sec 68.pdf 8. Any-Other-Ground Additional Grounds The Appellant hereby craves to submit additional Grounds , evidence , documents , explanation , Judicial Pronouncements etc during the ITAT proceedings in order explain its position to obtain adequate relief.” 3. Brief facts of the case are that the assessee had filed

KALINGA INSTITUTE OF INDUSTRIAL TECHNOLOGY (KIIT),BHUBANESWAR vs. COMMISSIONER OF INCOME TAX (EXEMPTION), HYDERABAD

In the result, appeal of the assessee is allowed

Bench: S/ S/Shri Chandra Mohan Garg, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaassessment Year : 2016-17 Kalinga Institute Of Industrial Kalinga Institute Of Industrial Vs Cit (Exemptions), Cit (Exemptions), Technology (Kiit Technology (Kiit), Hyderabad Bhubaneswar Bhubaneswar Pan/Gir No. No.Aaatk 3103 C (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri S.K.Agarwal S.K.Agarwal, Ar Revenue By : Shri Manoj Kumar Goutam, Manoj Kumar Goutam, Cit (Dr) Date Of Hearing : 7 /3/ 20 / 2022 Date Of Pronouncement : 08/ /4/2022 O R D E R Per C.M.Garg G, Jm

20 / 2022 Date of Pronouncement : 08/ /4/2022 O R D E R Per C.M.Garg g, JM This is an appeal filed by the assessee against the order of the This is an appeal filed by the assessee against the order of the This is an appeal filed by the assessee against the order of the Pr. CIT(E), Hyderabad Hyderabad

DHANALAXMI JEWELLERS,ANGUL vs. ITO, ANGUL WARD, ANGUL

In the result, appeal of the assessee is partly allowed for statistical purposes in terms as indicated above

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अपीऱ सं./Ita No.153/Ctk/2018 (नििाारण वषा / Assessment Year :2013-2014) M/S Dhanalaxmi Jewellers, Vs. Ito, Angul Ward, Angul Laxmi Bazar, Angul-759122 स्थायी लेखा सं./Panno. : Aagfd 8791 D (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri D.K.Sheth/M. Sheth, Advs. िाजस्व की ओर से /Revenue By : Shri Subhendu Dutta, Dr

20,00,000 Loan confirmation, Bank Commodities Pvt. ITR Copy, Bank statement Ltd., 8/1, Lal Bazar Statement, only the page Street, 3rd Floor, statement of total containing the Room No.1, Kolkata- income Balance- transaction 700001 sheet & P&L A/C 8 Priyanka Mundhra, APSPM0685A 3,00,000 Loan confirmation, Bank C/o. M/s. Bhutbnath ITR Copy, Bank statement Store, Main Road, Statement

RASHI AGRAWAL,CUTTACKI vs. INCOME TAX OFFICER, CUTTACK

In the result, appeal of the assessee allowed

Section 68 of the Act. It is recorded that “There is no dispute that the shares of the two companies were purchased online, the payments have been made through banking channel, and the shares were dematerialized and the sales have been routed from de- mat account and the consideration has been received through banking channels." The above noted factors