Below is a possible solution to the Challenge 51 - Another Word Challenge - Whether Given Words are Anagram or not

Use following formula -

=IF(AND(LEN(A1)=LEN(B1),SUMPRODUCT(--(LEN(A1)-LEN(SUBSTITUTE(UPPER(A1),
UPPER(MID(A1,ROW(INDIRECT("1:"&LEN(A1))),1)),""))=LEN(B1)-LEN(SUBSTITUTE(
UPPER(B1),UPPER(MID(A1,ROW(INDIRECT("1:"&LEN(A1))),1)),""))))=LEN(A1)),"Anagram","Not Anagram")