SRI SUKHAMAYA DAS,BHUBANESWAR vs. DCIT, CIRCLE-3(1), BHUBANESWAR

In the result, appeal of the assessee is partly allowed

Bench: Shri Shri Chandra Mohan Garg, Judicialassessment Year : 2013-14 Sri Sukhmaya Das, Sri Sukhmaya Das, At-N/3/69, Vs. Dcit, Circle -3(1), 3(1), Irc Irc Village, Village, Nayapalli, Nayapalli, Bhubaneswar. Bhubaneswar Pan/Gir No. Aeppd 2993 A Aeppd 2993 A (Appellant) (Appellant .. ( Respondent Respondent) Assessee By : Shri J.M.Pattnaik, Ar , Ar Revenue By : Shri S.C. Mohanty, Dr Dr Date Of Hearing : 28/05/ 2021 1 Date Of Pronouncement : 14 /06/20 /2021 O R D E R

85,000/-) = Rs.5,01,650/-. He, therefore, submitted that the addition of Rs.24,55,250/- made by the AO and confirmed by the ld CIT(A) is illegal and non-application of mind. 9. Ld A.R. further submitted that in this case section 68

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

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

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

68 is clear. The Legislature has laid down that in the absence of a satisfactory explanation, the unexplained cash credit may be charged to income-tax as the income of the assessee of that previous year. In this, case the legislative mandate is not in terms of the words "shall be charged to income-tax as the income

MR. BICHITRANANDA ROUT,SHANKARPUR, CUTTACK vs. INCOME TAX OFFICER, WARD-2(1), CUTTACK

In the result, appeal of the assessee stands dismissed

85,500/-, which included Specified Bank Notes (SBNs) of Rs.8,35,500/-. It was the submission that the Assessing Officer had treated the SBNs deposited by the assessee in his bank account as unexplained investment of the assessee and out of balance of the turnover the Assessing Officer had estimated the income of the assessee

ASHWIN KUMAR AGARWAL,CUTTACK vs. DCIT ASMNT CIRCLE-2(1)CUTTACK, CUTTACK

In the result, appeal of the assessee is allowed

68 of the I.T. Act. The CIT(A) during the course of hearing deleted the amount of Rs.3,83,541/- arising as long term capital gains on account of sales of other shares and stated eligible for exemption u/s. 10(38) of the I.T. Act and sustained the addition of Rs.65,55,972/- (i.e Rs.69,39,513 Rs.3

RAJENDRA KUMAR SAHA,BARIPADA vs. PRINCIPAL CIT, CUTTACK

In the result, appeal of the assessee is allowed

Bench: S/Shri N.S Saini & Pavan Kumar Gadaleassessment Year : 2013-2014

85,89,758.15 ii) Garment A/c - 44 parties Rs.1,02,81,647.68 Total; Rs.1,88,71,405.83 6. He observed that the turnover of MP Rice Mill, one of the units of the assessee, was Rs.1,50,79,561 during the relevant year. But, sundry creditors of Rs.85,89,758 appearing in its books

KISHAN MOTORS,BHUBANESWAR vs. ITO, WARD-4(3), BHUBANESWAR

In the result, appeal in ITA No

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahu

85,448 – Rs.21,42,479) is confirmed. Ground No.1 of appeal is partly allowed. 9. Apropos Ground No.2 of appeal, ld counsel for the assessee submitted that the identity, genuineness and creditworthiness of the loan creditors namely; Narayan Sahoo of Rs.5,00,000/- and Pervez Jamal of Rs.3,00,000/- and all the documents were filed in the paper book

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

68 of the Act. Apparently the Assessing Officer was satisfied with the assessee's explanation regarding the nature and source of the amount. Thus, the transactions between the assessee and VE did not fall within the mischief sought to be remedied by the section. As already pointed out by us, the assessee was also prevented by reasonable cause from

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

68 of the Act. Apparently the Assessing Officer was satisfied with the assessee's explanation regarding the nature and source of the amount. Thus, the transactions between the assessee and VE did not fall within the mischief sought to be remedied by the section. As already pointed out by us, the assessee was also prevented by reasonable cause from

DCIT, BERHAMPUR CIRCLE, BERHAMPUR vs. ALLIED INFRA SUPPLIERS, GANJAM

In the result, cross objection of the assessee is partly

Bench: S/Shri N.S Saini & Pavan Kumar Gadaleassessment Year :2012-2013 C.O.No.42/Ctk/2018

section 68 cannot be applied to sundry creditors and the assessee cannot be applied to sundry creditors and the assessee cannot be asked to prove the 3 ingredients of cash credits in respect of sundry creditors. The sundry credits have arisen out of transactions with the assessee of supply of goods or services and unless the AO proves that

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

Section 68, being just 86 proper be upheld 8& the departmental ground on this account be dismissed. 3. For that even if assuming but not admitting that as held by the CIT (A) the disclosed receipt of Rs. 29,61,593/- disclosed under the head business income voluntarily are to be treated as rental income under the head "Income

SMT. SANJUKTA PRUSTY,BHUBANESWAR vs. ITO, WARD-3(5), BHUBANESWAR

In the result, appeal of the assessee is allowed

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahuassessment Year : 2013-14

85,000/-mentioned in the registered sale deed as the sales consideration. The copy of the said order is enclosed in paper book-2 submitted on 26.09.2018 & marked as Annexure-3 (page-25 to page- 34) for your honour's kind perusal. 6.6 That the other relevant judicial pronouncements in the following cases are worth mentioning: SI Case Pronouncement

PRALIPTA KUMAR NANDA,BHUBANESWAR vs. ITO, WARD-2(4), BHUBANESWAR

In the result, appeal filed by the assessee is partly allowed for

Bench: Shri N.S Sainiassessment Year :2010-11

85,000 28.10.2009 Munda, Siripur, BBSR 14. Arup Mohanty, Labour Colony, Unit-3, BBSR 96,000 15.11.2009 5. He submitted that out of 14 persons, four persons appeared before the Assessing Officer, namely Smt. Manjulata Sahu from whom Rs.81,200/- was received, Smt. Namita Sahu from whom Rs.77,000/- was received, Shr Rohit Bhanj from whom Rs.80,000/- was received

MAKEWAY CONSULTANCY PVT. LTD.,BHUBANESWAR vs. DCIT, CIRCLE-1(1), BHUBANESWAR

Bench: Shri N.S Sainiassessment Year :2010-2011

section 68 of the Act. 3. The brief facts of the case are that during the year under consideration, the assessee received share application money of Rs.44,00,000/- in cash from the following persons: “Maeway Consultancy Private Limited Asse ssment Year :20 10- 201 1 Details of Share Capital Introduced during Financial Year 2009-10 AMOUNT NAME

M/S. ODISHA HYDRO POWER CORPORATION LTD.,BHUBANESWAR vs. ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR

In the result, appeals of the revenue as well as the assessee are partly allowed for statistical purposes

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

85,00,000/-is deleted.” The revenue has not been able to dislodge these findings nor bring any evidence to the contrary. Consequently, the findings of the ld CIT(A) on this issue is upheld insofar as he has considered all the facts and has reached the decision in accordance with law. P a g e 17 | 35 Orissa Hydro

ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR vs. M/S. ORISSA HYDRO POWER CORPORATION LTD., BHUBANESWAR

In the result, appeals of the revenue as well as the assessee are partly allowed for statistical purposes

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

85,00,000/-is deleted.” The revenue has not been able to dislodge these findings nor bring any evidence to the contrary. Consequently, the findings of the ld CIT(A) on this issue is upheld insofar as he has considered all the facts and has reached the decision in accordance with law. P a g e 17 | 35 Orissa Hydro

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

In the result, appeals of the revenue as well as the assessee are partly allowed for statistical purposes

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

85,00,000/-is deleted.” The revenue has not been able to dislodge these findings nor bring any evidence to the contrary. Consequently, the findings of the ld CIT(A) on this issue is upheld insofar as he has considered all the facts and has reached the decision in accordance with law. P a g e 17 | 35 Orissa Hydro

M/S. ODISHA HYDRO POWER CORPORATION LTD.,BHUBANESWAR vs. ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR

In the result, appeals of the revenue as well as the assessee are partly allowed for statistical purposes

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

85,00,000/-is deleted.” The revenue has not been able to dislodge these findings nor bring any evidence to the contrary. Consequently, the findings of the ld CIT(A) on this issue is upheld insofar as he has considered all the facts and has reached the decision in accordance with law. P a g e 17 | 35 Orissa Hydro