KANCHAN PLASTICS PRIVATE LIMITED,CUTTACK vs. DEPUTY COMMISSIONER OF INCOME TAX ASMNT CIRCLE-2(1), CUTTACK

In the result, appeal filed by the assessee stands allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaassessment Year : 2017-18 Kanchan Plastics Pvt Ltd., Kanchan Plastics Pvt Ltd., Vs. Dcit, Asmnt Circle Dcit, Asmnt Circle-2(1), 222, Banka Bazar, Cuttack 222, Banka Bazar, Cuttack Cuttack Pan/Gir No. Pan/Gir No. (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri Mohit Sheth, Ar Mohit Sheth, Ar Revenue By : Shri S.C.Mohanty, Sr. S.C.Mohanty, Sr. Dr

section 68 of the Act. It was the submission that the assessee had initially taken the loans as interest free but subsequently, as the assessee was unable to repay the loans immediately, the assessee had paid P a g e 2 | 12 Assessment Year : 2017-18 interest on the same and had also deducted TDS on the interest payments

M/S- RAWAT BALAJI (JOINT VENTURE),JHARSUGUDA vs. PRILNCIPAL, CIT, SAMBALPUR

In the result, appeal of the assessee in ITA No

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am आयकर अपीऱ सं./Ita Nos.193/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Rawats-Balaji(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aabar 9061 J Tan No. : Bbnr01647 C & आयकर अपीऱ सं./Ita Nos.194/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Sbepl-Gril(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aafas 2639 R Tan No. : Bbns04348 B & आयकर अपीऱ सं./Ita Nos.195/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) Shree Balaji Engicons Pvt Ltd Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aagcs 4292 P Tan No. : Bbns00091 A (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri Satyanarayan Agarwal, Ar िाजस्व की ओर से /Revenue By : Shri M.K.Gautam, Citdr सुनवाई की तािीख / Date Of Hearing : 26/10/2021 घोषणा की तािीख/Date Of Pronouncement : 23/12/2021 आदेश / O R D E R Per Bench: These Three Appeals Have Been Filed By Three Different Assessees Against The Order Passed By The Pr.Cit, Sambalpur, U/S.263 Of The Act, All Dated 30.03.2019 For The Assessment Year 2014-2015. 2

section 80-IA(4) of the Act in respect of the development of eligible infrastructural facilities. 41 ITA Nos.193-195/CTK/2019 19. Ld. AR also pointed out that the assessee was assigned full responsibility to do all acts for execution and completion of work right from the beginning till handing over of the project to the contractee. The contract

SHREE BALAJI ENGICONS PVT. LTD,JHARSUGUDA vs. PRINCIPAL CIT, SAMBALPUR

In the result, appeal of the assessee in ITA No

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am आयकर अपीऱ सं./Ita Nos.193/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Rawats-Balaji(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aabar 9061 J Tan No. : Bbnr01647 C & आयकर अपीऱ सं./Ita Nos.194/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Sbepl-Gril(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aafas 2639 R Tan No. : Bbns04348 B & आयकर अपीऱ सं./Ita Nos.195/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) Shree Balaji Engicons Pvt Ltd Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aagcs 4292 P Tan No. : Bbns00091 A (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri Satyanarayan Agarwal, Ar िाजस्व की ओर से /Revenue By : Shri M.K.Gautam, Citdr सुनवाई की तािीख / Date Of Hearing : 26/10/2021 घोषणा की तािीख/Date Of Pronouncement : 23/12/2021 आदेश / O R D E R Per Bench: These Three Appeals Have Been Filed By Three Different Assessees Against The Order Passed By The Pr.Cit, Sambalpur, U/S.263 Of The Act, All Dated 30.03.2019 For The Assessment Year 2014-2015. 2

section 80-IA(4) of the Act in respect of the development of eligible infrastructural facilities. 41 ITA Nos.193-195/CTK/2019 19. Ld. AR also pointed out that the assessee was assigned full responsibility to do all acts for execution and completion of work right from the beginning till handing over of the project to the contractee. The contract

M/S- SBEP-GRIL(JOINT VENTURE),JHARSUGUDA vs. PRINCIPAL CIT, SAMBALPUR

In the result, appeal of the assessee in ITA No

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am आयकर अपीऱ सं./Ita Nos.193/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Rawats-Balaji(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aabar 9061 J Tan No. : Bbnr01647 C & आयकर अपीऱ सं./Ita Nos.194/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Sbepl-Gril(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aafas 2639 R Tan No. : Bbns04348 B & आयकर अपीऱ सं./Ita Nos.195/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) Shree Balaji Engicons Pvt Ltd Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aagcs 4292 P Tan No. : Bbns00091 A (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri Satyanarayan Agarwal, Ar िाजस्व की ओर से /Revenue By : Shri M.K.Gautam, Citdr सुनवाई की तािीख / Date Of Hearing : 26/10/2021 घोषणा की तािीख/Date Of Pronouncement : 23/12/2021 आदेश / O R D E R Per Bench: These Three Appeals Have Been Filed By Three Different Assessees Against The Order Passed By The Pr.Cit, Sambalpur, U/S.263 Of The Act, All Dated 30.03.2019 For The Assessment Year 2014-2015. 2

section 80-IA(4) of the Act in respect of the development of eligible infrastructural facilities. 41 ITA Nos.193-195/CTK/2019 19. Ld. AR also pointed out that the assessee was assigned full responsibility to do all acts for execution and completion of work right from the beginning till handing over of the project to the contractee. The contract

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.

256 ITR 440 (Mad,) (Page 63)r where the revision has been held to be invalid as the subject-matter of the revision was the same as that of the pending appeal as Interpreted in Aermns Infrastructure & Technology ltd, v. CZT (2004) 271 ITR £5 (Demi) (Page 64), 5. in the Ground No.3 of the appeal filed against the assessment

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

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

2 | 18 Assessment Year : 2016-17 without conducting any independent inquiry to the submission of the assessee as mandated u/s 263(1) of the Act and therefore the revisional order passed u/s 263 is liable to be quashed” 3. Facts of this case are that the Assessing Officer completed the assessment u/s.143(3) of the Act on 13.12.2018. Thereafter

RIDHI BAGARIA,CUTTACK vs. ITO WARD-1(1), 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- through banking channels." The above noted factors, including the deficient enquiry conducted

TEKCHAND HARILAL,BALASORE vs. INCOME TAX OFFICER, WARD-2, BALASORE, BALASORE

In the result, appeal of the assessee stands allowed

Bench: SHRI DUVVURU RL REDDY (Vice President)

68,500/- during demonetisation period by applying section 69A of the Act. Besides, the AO also disallowed Rs.19,360/- i.e. 10% of carriage outward expenses on adhoc estimate basis Aggrieved with the order of the Assessing Officer, the assessee carried the matter in appeal before the ld CIT(A) but without success. 3. At the time of hearing

M/S. ORISSA MINING CORPORATION LTD.,BHUBANESWAR vs. DCIT, CIRCLE-2(1), BHUBANESWAR

In the result, the appeals of the assessee i

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am

section 80G of Rs.7,52,58,750/- arbitrarily is unjust and bad in law. 5. For that the appellant has submitted all relevant documents at the time of several hearings before the Ld. CIT (A) which he has not considered which is unjust and therefore bad in law. 6. That the appellant craves leave to add or to amend

ORISSA MINING CORPORATION LIMITED,BHUBANESWAR vs. DICT, BHUBANESWAR

In the result, the appeals of the assessee i

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am

section 80G of Rs.7,52,58,750/- arbitrarily is unjust and bad in law. 5. For that the appellant has submitted all relevant documents at the time of several hearings before the Ld. CIT (A) which he has not considered which is unjust and therefore bad in law. 6. That the appellant craves leave to add or to amend

ORISSA MINING CORPORATION LTD.,BHUBANESWAR vs. DCIT, CIRCLE-1(1), BHUBANESWAR, BHUBANESWAR

In the result, the appeals of the assessee i

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am

section 80G of Rs.7,52,58,750/- arbitrarily is unjust and bad in law. 5. For that the appellant has submitted all relevant documents at the time of several hearings before the Ld. CIT (A) which he has not considered which is unjust and therefore bad in law. 6. That the appellant craves leave to add or to amend

M/S. ORISSA MINING CORPORATION LTD.,BHUBANESWAR vs. JCIT, RANGE-1, BHUBANESWAR

In the result, the appeals of the assessee i

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am

section 80G of Rs.7,52,58,750/- arbitrarily is unjust and bad in law. 5. For that the appellant has submitted all relevant documents at the time of several hearings before the Ld. CIT (A) which he has not considered which is unjust and therefore bad in law. 6. That the appellant craves leave to add or to amend

M/S. ORISSA MINING CORPORATION LTD.,BHUBANESWAR vs. JCIT, RANGE-1, BHUBANESWAR

In the result, the appeals of the assessee i

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am

section 80G of Rs.7,52,58,750/- arbitrarily is unjust and bad in law. 5. For that the appellant has submitted all relevant documents at the time of several hearings before the Ld. CIT (A) which he has not considered which is unjust and therefore bad in law. 6. That the appellant craves leave to add or to amend

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

68 of the Act. It was submitted by the ld. A.R that the assessee had challenged the said assessment order and the same as on date is pending before the CIT(A). Out of the balance 8,67,500 shares the assessee had transferred 1,00,000 shares to his wife Mrs. Mridulla Gupta through an unregistered gift deed

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

68 of the Act. It was submitted by the ld. A.R that the assessee had challenged the said assessment order and the same as on date is pending before the CIT(A). Out of the balance 8,67,500 shares the assessee had transferred 1,00,000 shares to his wife Mrs. Mridulla Gupta through an unregistered gift deed

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

68 of the Act. It was submitted by the ld. A.R that the assessee had challenged the said assessment order and the same as on date is pending before the CIT(A). Out of the balance 8,67,500 shares the assessee had transferred 1,00,000 shares to his wife Mrs. Mridulla Gupta through an unregistered gift deed

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

68 of the Act. It was submitted by the ld. A.R that the assessee had challenged the said assessment order and the same as on date is pending before the CIT(A). Out of the balance 8,67,500 shares the assessee had transferred 1,00,000 shares to his wife Mrs. Mridulla Gupta through an unregistered gift deed