CIT v. Abdul Aziz

Deputy Commissioner O F Income Tax, Raipur vs. Balajee Loha Pvt. Ltd., Raipur

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं. / Ita No: 356/Rpr/2024 (िनधा"रण वष" Assessment Year: 2014-15)

…e credits by bringing adverse material. In holding a particular receipt as income from undisclosed sources. The fate of the assessee cannot be decided by the revenue on the basis of surmises. Suspicion or probabilities.  In case of CIT vs. Abdul Aziz (2012) 251 CTR 58 (Chhattisgarh), the Jurisdiction High Court held that where AO had not made any independent enquiry to disprove creditworthiness of the creditors, as established by affidavits and statements of creditors disclosing source of income. Addition made u/s 68 was rightly deleted. In this case also the rejection is based on no evidences and therefore rai…

Income Tax Officer, Ward-1(1), Bilaspur vs. M/S Jayem Holding Pvt. Ltd., Bilaspur

In the result, appeal filed by the department in ITA no

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am

…आयकर अपीलीय अिधकरण, रायपुर "यायपीठ, रायपुर IN THE INCOME TAX APPELLATE TRIBUNAL RAIPUR BENCH, RAIPUR "ी र"वश सूद, "याियक सद"य एवं "ी अ"ण खोड़"पया, लेखा सद"य के सम" । BEFORE SHRI RAVISH SOOD, JM & SHRI ARUN KHODPIA, AM (ITA No. 93/RPR/2018) (Assessment Year:2014-15) Income Tax Officer, Ward-1(1), V M/s Jayem Holdings Pvt. Ltd., Bilaspur s BF-1, First Floor, Rajeev Plaza, Old Bus Stand Road, Bilaspur, (C.G.) 496001 PAN: AACCJ8069M Cross Objection No. 08/RPR/2018 (Assessment Year: 2014-15) Arising out of ITA No. 93/RPR/2018 Income Tax Officer, Ward-1(1), V M/s Jayem Holdings Pvt. Ltd., Bilaspur s BF-1, First Floo…

Assistant Commissioner of Income Tax, Circle 2(1), Bhilai vs. Mesers Abis Poultry Private Limited, Rajnandgaon

In the result, both appeals of the revenue are dismissed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita No.233 & 234/Rpr/2019 (ननधाारण वषा / Assessment Year :2009-2010 & 2011-2012) Acit-2(1), Bhilai Vs M/S Abis Poultry Private Limited, Baldeo Bag, Rajnandgaon Pan No. :Aaeca 87411 E (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

…Asst. details, the assessing officer ought to have accepted these contributions towards share capital as genuine and no addition was warranted u/s 68 in hands of assessee on account of share application money received". • In case of CIT vs. Abdul Aziz (2012) 251 CTR 58 (Chhatrisgarh), the Jurisdiction High Court held that where AO had not made any independent enquiry to disprove creditworthiness of the creditors, as established by affidavits and statements of creditors disclosing source of income, addition made u/s 68 was rightly deleted. In this case also the rejection is based on no evidences and therefore rai…

Assistant Commissioner of Income Tax, Circle 2(1), Bhilai vs. Mesers Abis Poultry Private Limited, Rajnandgaon

In the result, both appeals of the revenue are dismissed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita No.233 & 234/Rpr/2019 (ननधाारण वषा / Assessment Year :2009-2010 & 2011-2012) Acit-2(1), Bhilai Vs M/S Abis Poultry Private Limited, Baldeo Bag, Rajnandgaon Pan No. :Aaeca 87411 E (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

…Asst. details, the assessing officer ought to have accepted these contributions towards share capital as genuine and no addition was warranted u/s 68 in hands of assessee on account of share application money received". • In case of CIT vs. Abdul Aziz (2012) 251 CTR 58 (Chhatrisgarh), the Jurisdiction High Court held that where AO had not made any independent enquiry to disprove creditworthiness of the creditors, as established by affidavits and statements of creditors disclosing source of income, addition made u/s 68 was rightly deleted. In this case also the rejection is based on no evidences and therefore rai…

The Assistant Commissioner of Income-Tax-Central Circle-2, Raipur, Raipur (Cg) vs. M/S Devi Iron & Power Pvt Ltd., Raipur, Raipur (Cg)

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 267 & 268/Rpr/2014 Co Nos. 30 & 31/Rpr/2015 "नधा"रण वष" / Assessment Years : 2011-12 & 2012-13 The Deputy Commissioner Of Income Tax, Central Circle, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. Mahamaya Tower, 3Rd & 4Th Floor, In Front Of Anupam Nagar, Near Varun Honda, G.E. Road, Raipur (C.G.) Pan : Aaeca3704G ……""यथ" / Respondent आयकर अपील सं. / Ita No.101/Rpr/2017 "नधा"रण वष" / Assessment Year : 2013-14 The Assistant Commissioner Of Income Tax (Central)-2, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. B-08-09, Sector-C, Industrial Area, Urla, Sarora, Raipur (C.G.) Pan : Aabcd9753D ……""यथ" / Respondent Co Nos.30 & 31/Rpr/2015

…es in the case of the assessee company. Our aforesaid conviction is further supported by the judgments of the Hon’ble Jurisdictional High Court in the case of ACIT Vs. Venkateshwar Ispat (P) Ltd. (2009) 319 ITR 393 (Chhattisgarh) and CIT Vs. Abdul Aziz (2012) 251 CTR 58 (Chhattisgarh). On the basis of our aforesaid deliberations, we are of the considered view that now when the assessee had duly discharged the onus that was cast upon it as regards proving the authenticity of the transaction of receipt of share application money from the aforesaid investor company viz. Antariksh Commerce Pvt. Ltd, then the A.O coul…

D.C.I.T. Central Cricle, Raipur vs. Devi Iron & Power Pvt Limited, Raipur

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 267 & 268/Rpr/2014 Co Nos. 30 & 31/Rpr/2015 "नधा"रण वष" / Assessment Years : 2011-12 & 2012-13 The Deputy Commissioner Of Income Tax, Central Circle, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. Mahamaya Tower, 3Rd & 4Th Floor, In Front Of Anupam Nagar, Near Varun Honda, G.E. Road, Raipur (C.G.) Pan : Aaeca3704G ……""यथ" / Respondent आयकर अपील सं. / Ita No.101/Rpr/2017 "नधा"रण वष" / Assessment Year : 2013-14 The Assistant Commissioner Of Income Tax (Central)-2, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. B-08-09, Sector-C, Industrial Area, Urla, Sarora, Raipur (C.G.) Pan : Aabcd9753D ……""यथ" / Respondent Co Nos.30 & 31/Rpr/2015

…es in the case of the assessee company. Our aforesaid conviction is further supported by the judgments of the Hon’ble Jurisdictional High Court in the case of ACIT Vs. Venkateshwar Ispat (P) Ltd. (2009) 319 ITR 393 (Chhattisgarh) and CIT Vs. Abdul Aziz (2012) 251 CTR 58 (Chhattisgarh). On the basis of our aforesaid deliberations, we are of the considered view that now when the assessee had duly discharged the onus that was cast upon it as regards proving the authenticity of the transaction of receipt of share application money from the aforesaid investor company viz. Antariksh Commerce Pvt. Ltd, then the A.O coul…

D.C.I.T. Central Cricle, Raipur vs. Devi Iron & Power Limited, Raipur

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 267 & 268/Rpr/2014 Co Nos. 30 & 31/Rpr/2015 "नधा"रण वष" / Assessment Years : 2011-12 & 2012-13 The Deputy Commissioner Of Income Tax, Central Circle, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. Mahamaya Tower, 3Rd & 4Th Floor, In Front Of Anupam Nagar, Near Varun Honda, G.E. Road, Raipur (C.G.) Pan : Aaeca3704G ……""यथ" / Respondent आयकर अपील सं. / Ita No.101/Rpr/2017 "नधा"रण वष" / Assessment Year : 2013-14 The Assistant Commissioner Of Income Tax (Central)-2, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. B-08-09, Sector-C, Industrial Area, Urla, Sarora, Raipur (C.G.) Pan : Aabcd9753D ……""यथ" / Respondent Co Nos.30 & 31/Rpr/2015

…es in the case of the assessee company. Our aforesaid conviction is further supported by the judgments of the Hon’ble Jurisdictional High Court in the case of ACIT Vs. Venkateshwar Ispat (P) Ltd. (2009) 319 ITR 393 (Chhattisgarh) and CIT Vs. Abdul Aziz (2012) 251 CTR 58 (Chhattisgarh). On the basis of our aforesaid deliberations, we are of the considered view that now when the assessee had duly discharged the onus that was cast upon it as regards proving the authenticity of the transaction of receipt of share application money from the aforesaid investor company viz. Antariksh Commerce Pvt. Ltd, then the A.O coul…

Vallabh Chandak, Mahasamund vs. Income Tax Officer, Ward Mahasamund, Mahasamund

In the result, appeal of the assessee is allowed for statistical purposes in terms of the aforesaid observations

Bench: Shri Ravish Soodआयकर अपील सं./ Ita No.104/Rpr/2021 "नधा"रण वष" / Assessment Year : 2017-18 Vallabh Chandak Pro. M/S. Laxmi Pharma Purana Mandi Road, Ganjpara, Mahasamund (C.G.)-493 445 Pan : Akhpc3415A .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer Ward-Mahasumand (C.G.). ……""यथ" / Respondent

…en the A.O was obligated to arrive at a conclusion as regards the maintainability of the claim of the assessee by taking recourse to Section 131 or Section 133(6) of the Act. Also, the Hon’ble Jurisdictional High Court in the case of CIT Vs. Abdul Aziz (2012) 251 CTR 58 (CG), had observed, that where an assessee establishes the creditworthiness of the creditors on the basis of affidavits, statements of the creditors disclosing their source of income, then the dissatisfaction arrived by the A.O without carrying out any independent enquiry is to be rejected. On the basis of the aforesaid settled position of law, I…

Joint Commissioner of Income Tax (OSD) Circle-1(1), Bilaspur vs. M/S Omax Minerals Pvt. Ltd. Gadumaria, Raigarh

In the result appeal ITA No

…आयकर अऩीऱीय अधधकरण, रायऩुर न्यायऩीठ, रायऩुर IN THE INCOME TAX APPELLATE TRIBUNAL RAIPUR BENCH, RAIPUR श्री रविश सूद, न्याययक सदस्य एवं श्री अरुण खोड़वऩया, ऱेखा सदस्य के समक्ष । BEFORE SHRI RAVISH SOOD, JM & SHRI ARUN KHODPIA, AM आयकर अऩीऱ सं./ITA No.94/RPR/2018 (ननधाारण वषा / Assessment Year :2014-2015) JCIT(OSD), Circle-1(1), Bilaspur Vs M/s Omax Minerals Pvt. Ltd. Adumaria, Jharsuguda Road, Raipur PAN No. : AABCO 5774 H (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. AND Cross Objection No.09/RPR/2018 (Arising out of ITA No.94/RPR/2018) (ननधाारण वषा / Assessment Year :2014-2015) M/s Omax Minerals Pvt. Ltd. Vs J…

Shri Shri Sudhir Kumar Jha, Bhilai(Cg) vs. The Dy. Commissioner of Income Tax 1(1), Bhilai, Bhilai(Cg)

In the result, the appeal of assessee is allowed

…of law as such could arise. 12 The High Court was, therefore, right in refusing to refer the questions sought for. Decision of the High Court affirmed. 11. Similar view has been taken by the Jurisdictional High Court in the case of CIT Vs. Abdul Aziz (2012) 251 CTR 58 (Chhatisgarh) The Commissioner (Appeals) has examined all the statements and depositions made by the creditors including their source of income and it was found that the Assessing Officer without having any material on record, contrary to the statements and affidavits filed by the creditors, has taken a stand that the creditors have failed to prov…

Prakash Godhwani, Raipur vs. Income Tax Officer, Ward 1(2), Raipur

In the result, the appeal of assessee is allowed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita No.136/Rpr/2019 (ननधाारण वषा / Assessment Year :2015-2016) Prakash Godhwani, Vs Ito-1(2), Raipur Prop. M/S Prakash Agency, Near Girls High School, Neora(Cg) Pan No. : Aglpg 2669 J (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

…Court in 87 ITR 349 (SC). 10. No responsibility to establish source of source. Reliance on: Jaikishan Dadlani vs ITO (2005) 24 CCH 0330 Mum.Trib., (2005) 4 SOT 0138 Mum. Trib., Daulat Ram Rawatmull 87 ITR 349 (SC). 11. Reliance on: - CIT vs Abdul Aziz (2012) 251 CTR 58 (Chhattisgarh) PN 98 to 108 of PB, relevant finding on PN 101 of PB, para no. 19. ITO vs Shri Koushal Agarwal in ITA no. 220/BLPR/2010 dt. 18.07.2013 If the AO was not convinced with the reply of lenders, he should have made some further enquiry and the onus upon the assessee is only to establish prima facie capacity of the lenders. Aravali Tradin…

Ratanlal Batra, Raigarh(C.G) vs. I.T.O. Ward -1, Raigarh(Cg)

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

Bench: Shri R. K. Panda & Ms Suchitra Kambleshri Ratan Lal Batra, Vs. Ito, Raigarh, C.G. Ward – 1 Raigarh, C.G. Pan-Addpb5567D

…persons in respect of the addition made u/s 68 of the IT Act explained the source of income during assessment proceedings u/s 143(3) of the IT Act. The Ld. AR relied upon the decision of Hon’ble Chhattisgarh High Court in the case of CIT Vs. Abdul Aziz (2012) 251 CTR 58 (C.G). Therefore the Ld. AR submitted that this addition made be deleted. Ground no. 2, is not pressed by the Ld. AR. 4. The Ld. DR on the other hand relied upon the orders of the authorities below. 3 5. We have heard both the parties and perused all the relevant material available on record. We find that the ratio laid down by the Hon’ble Chhat…

Shabd Prakash Lath, Bilaspur(Cg) vs. ITO, Ward- 1(1), Bilaspur(Cg)

In the result the appeal of the assessee is allowed

Bench: Shri R. K. Panda & Ms Suchitra Kamble

…case. The Ld. AR further submitted that no contrary material / adverse material was brought by the Assessing Officer for making such additions. The Ld.AR relied upon the decision of the Hon’ble Chhatishgarh High Court in the case of CIT Vs. Abdul Aziz (2012) 251 CTR 58 (C.G) as well as the decision of the Hon’ble Madhya Pradesh High Court in case of CIT vs. Metachem Industries (2000) 245 ITR 160. The Ld. AR further 4 submitted that the reliance of the decision of the Tribunal in case of Kushal Prasad Manhar vs. ITO order dated 30.07.2009 which was confirmed by the Hon’ble High Court as mentioned by the CIT(A)…

M/S Anjani Associates, Bilaspur vs. Income Tax Officer, Ward 1(2), Bilaspur

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

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2014-15 M/S Anjani Associates, Ito, Ward 1(2), Opp. Jain Plaza, Link Road, Bilaspur (Cg). Vs. Bilaspur (Cg).

…e genuineness of the transaction as between its creditor and that of the creditors’ source of income i.e. the sub-creditors. He also relied on the following decisions :- (i) CIT vs. Metachem Industries, (2000) 245 ITR 160 (MP). (ii) CIT vs. Abdul Aziz, (2012) 251 CTR 58 (C.G.). (iii) DCIT vs. Rohini Builders, (2002) 256 ITR 360 (Guj.). (iv) CIT vs. Jai Kumar Bakliwal, (2014) 366 ITR 217 (Raj.). (v) Aravali Trading Co. vs. ITO, (2008) 220 CTR 622 (Raj.). (vi) ITO vs. Shri Koushal Agarwal, ITA No.220/BLPR/2010 (ITAT Raipur). (vi) ITO vs. Gauram Prasad Nishad, ITA No.101/BLPR/2012 (ITAT Raipur). (viii) CIT vs. Ranch…