DCIT(CENTRAL)-1, RAIPUR vs. KALMESH KUMAR KESHARWANI, RAIPUR

In the result, appeal filed by the assessee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos.122, 123 & 124/Rpr/2024 "नधा"रण वष" / Assessment Years : 2013-14, 2014-15 & 2015-16 Kamlesh Kumar Kesharwani 112, Janta Colony, Gudhiyari, Raipur (C.G.)-492 001 Pan: Aewpk6876Q .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-1(1), Raipur (C.G.) ……""यथ" / Respondent आयकर अपील सं. / Ita Nos.135, 136 & 138/Rpr/2024 "नधा"रण वष" / Assessment Years : 2013-14, 2014-15 & 2015-16 The Deputy Commissioner Of Income Tax-(Central)-1, Raipur (C.G.)

Section 147 of the Act, and also the complete details of the income assessed vide order u/ss. 143(3)/144 of the Act, dated 31.03.2016 were provided in the “reasons to believe”, dated 05.02.2018, therefore, the aforesaid contention of the Ld. AR being devoid and bereft of any merit is rejected. 21. Per contra, Dr. Priyanka Patel, Ld. Sr. Departmental

DCIT(CENTRAL)-1, RAIPUR, RAIPUR vs. KALMESH KUMAR KESHARWANI, RAIPUR

In the result, appeal filed by the assessee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos.122, 123 & 124/Rpr/2024 "नधा"रण वष" / Assessment Years : 2013-14, 2014-15 & 2015-16 Kamlesh Kumar Kesharwani 112, Janta Colony, Gudhiyari, Raipur (C.G.)-492 001 Pan: Aewpk6876Q .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-1(1), Raipur (C.G.) ……""यथ" / Respondent आयकर अपील सं. / Ita Nos.135, 136 & 138/Rpr/2024 "नधा"रण वष" / Assessment Years : 2013-14, 2014-15 & 2015-16 The Deputy Commissioner Of Income Tax-(Central)-1, Raipur (C.G.)

Section 147 of the Act, and also the complete details of the income assessed vide order u/ss. 143(3)/144 of the Act, dated 31.03.2016 were provided in the “reasons to believe”, dated 05.02.2018, therefore, the aforesaid contention of the Ld. AR being devoid and bereft of any merit is rejected. 21. Per contra, Dr. Priyanka Patel, Ld. Sr. Departmental

DCIT(CENTRAL)-1,RAIPUR, RAIPUR vs. KALMESH KUMAR KESHARWANI, RAIPUR

In the result, appeal filed by the assessee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos.122, 123 & 124/Rpr/2024 "नधा"रण वष" / Assessment Years : 2013-14, 2014-15 & 2015-16 Kamlesh Kumar Kesharwani 112, Janta Colony, Gudhiyari, Raipur (C.G.)-492 001 Pan: Aewpk6876Q .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-1(1), Raipur (C.G.) ……""यथ" / Respondent आयकर अपील सं. / Ita Nos.135, 136 & 138/Rpr/2024 "नधा"रण वष" / Assessment Years : 2013-14, 2014-15 & 2015-16 The Deputy Commissioner Of Income Tax-(Central)-1, Raipur (C.G.)

Section 147 of the Act, and also the complete details of the income assessed vide order u/ss. 143(3)/144 of the Act, dated 31.03.2016 were provided in the “reasons to believe”, dated 05.02.2018, therefore, the aforesaid contention of the Ld. AR being devoid and bereft of any merit is rejected. 21. Per contra, Dr. Priyanka Patel, Ld. Sr. Departmental

KAMLESH KUMAR KESHARWANI,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX-1(1), RAIPUR, RAIPUR

In the result, appeal filed by the assessee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos.122, 123 & 124/Rpr/2024 "नधा"रण वष" / Assessment Years : 2013-14, 2014-15 & 2015-16 Kamlesh Kumar Kesharwani 112, Janta Colony, Gudhiyari, Raipur (C.G.)-492 001 Pan: Aewpk6876Q .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-1(1), Raipur (C.G.) ……""यथ" / Respondent आयकर अपील सं. / Ita Nos.135, 136 & 138/Rpr/2024 "नधा"रण वष" / Assessment Years : 2013-14, 2014-15 & 2015-16 The Deputy Commissioner Of Income Tax-(Central)-1, Raipur (C.G.)

Section 147 of the Act, and also the complete details of the income assessed vide order u/ss. 143(3)/144 of the Act, dated 31.03.2016 were provided in the “reasons to believe”, dated 05.02.2018, therefore, the aforesaid contention of the Ld. AR being devoid and bereft of any merit is rejected. 21. Per contra, Dr. Priyanka Patel, Ld. Sr. Departmental

KAMLESH KUMAR KESHARWANI,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX-1(1), RAIPUR, RAIPUR

In the result, appeal filed by the assessee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos.122, 123 & 124/Rpr/2024 "नधा"रण वष" / Assessment Years : 2013-14, 2014-15 & 2015-16 Kamlesh Kumar Kesharwani 112, Janta Colony, Gudhiyari, Raipur (C.G.)-492 001 Pan: Aewpk6876Q .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-1(1), Raipur (C.G.) ……""यथ" / Respondent आयकर अपील सं. / Ita Nos.135, 136 & 138/Rpr/2024 "नधा"रण वष" / Assessment Years : 2013-14, 2014-15 & 2015-16 The Deputy Commissioner Of Income Tax-(Central)-1, Raipur (C.G.)

Section 147 of the Act, and also the complete details of the income assessed vide order u/ss. 143(3)/144 of the Act, dated 31.03.2016 were provided in the “reasons to believe”, dated 05.02.2018, therefore, the aforesaid contention of the Ld. AR being devoid and bereft of any merit is rejected. 21. Per contra, Dr. Priyanka Patel, Ld. Sr. Departmental

DEPUTY COMMISSIONER OF INCOME TAX-1(1), RAIPUR vs. SHANTA TECHNO PRIVATE LIMITED, RAIPUR

Bench: Shri Partha Sarathi Chaudhury, Jm & Shri Arun Khodpia, Am आयकर अपील सं. / Ita No: 155/Rpr/2025 (िनधा"रण वष" Assessment Year: 2018-19)

bogus purchase under section 69C of the Act, thereby determining the assessee's income at Rs. 5,43,80,670/-. 4. An appeal was preferred before the Commissioner of Income Tax, (Appeals), who allowed the appeal partly vide its order dated 19th May, 2015. The Appellate Authority held that payments made by the assessee were through banking channels and that

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1(1), RAIPUR vs. MESERS TIRUPATI BALAJI FOOD PRIVATE LIMITED, TILDA

In the result, appeal of the revenue in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.202/Rpr/2018 "नधा"रण वष" / Assessment Year : 2014-15 The Assistant Commissioner Of Income Tax-1(1), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Tirupati Balaji Foods Pvt. Ltd., Tilda-Neora, Raipur (C.G.) Pan : Aacct7476L ……""यथ" / Respondent आयकर अपील सं. / Ita No.13/Rpr/2019 "नधा"रण वष" / Assessment Year : 2015-16 The Assistant Commissioner Of Income Tax-1(1), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Tirupati Balaji Foods Pvt. Ltd., Tilda-Neora, Raipur (C.G.) Pan : Aacct7476L ……""यथ" / Respondent

section 69C on the basis of GP ratio is unjustified?" 5. "Whether on points of law and on fact & circumstances of the case, the Ld.CIT(A) having concurrent powers of the AO u/s 250(4) of the Act, was justified in deleting the addition of Rs.5,37,29,238/- out of total addition made by the AO as the assessee

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1(1), RAIPUR vs. MESERS TIRUPATI BALAJI FOOD PRIVATE LIMITED, TILDA

In the result, appeal of the revenue in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.202/Rpr/2018 "नधा"रण वष" / Assessment Year : 2014-15 The Assistant Commissioner Of Income Tax-1(1), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Tirupati Balaji Foods Pvt. Ltd., Tilda-Neora, Raipur (C.G.) Pan : Aacct7476L ……""यथ" / Respondent आयकर अपील सं. / Ita No.13/Rpr/2019 "नधा"रण वष" / Assessment Year : 2015-16 The Assistant Commissioner Of Income Tax-1(1), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Tirupati Balaji Foods Pvt. Ltd., Tilda-Neora, Raipur (C.G.) Pan : Aacct7476L ……""यथ" / Respondent

section 69C on the basis of GP ratio is unjustified?" 5. "Whether on points of law and on fact & circumstances of the case, the Ld.CIT(A) having concurrent powers of the AO u/s 250(4) of the Act, was justified in deleting the addition of Rs.5,37,29,238/- out of total addition made by the AO as the assessee

FIVE STARCONSTRUCTION COMPANY,BHILAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 1(1), BHILAI

The appeal of the assessee is partly allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.45/Rpr/2018 "नधा"रण वष" / Assessment Year : 2014-15 Five Star Construction Company Plot No.96-97, Light Industrial Area, Chawani Chowk, Bhilai (C.G)-490026 Pan : Aaaff4316L .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax-1(1), Bhilai (C.G.) ……""यथ" / Respondent

purchase- 4,04,56,014/- para-14 Bogus cash credit u/s.68-para-15 4,82,814/- Unexplained cash credit-para-16 10,00,000/- Unrecorded work receipts-para-17 27,88,260/- Unrecorded income from car sale- 8,10,000/- para-18 Unexplained Expenditure u/s.69C- 1,60,000/- para-19 Unrecorded interest receipt-para- 1,59,000/- 20 Unexplained cash credit u/s.68-

INCOME TAX OFFICER-1(1), BILASPUR vs. MUSADDILAL MANSARAM INFRASTRUCTURE PVT. LTD. , BILASPUR

The appeal of the assessee is allowed, whereas the appeal of revenue stands dismissed

Bench: Shri Partha Sarathi Chaudhury, Jm & Shri Arun Khodpia, Am आयकर अपील सं. / Ita No: 160/Rpr/2025 (िनधा"रण वष" Assessment Year: 2015-16)

purchase price as per section 50C of the Act, by applying a 10% tolerance limit retrospectively, and further erred in holding that the correct provision applicable was section 56(2)(vii)(b) of the Act instead of section 69, despite the fact that section 56(2)(vii)(b) is applicable only to individuals and Hindu Undivided Families (HUFs) for Assessment

MUSADDILAL MANSARAM INFRASTRUCTURE PVT. LTD., BILASPUR,BILASPUR vs. INCOME TAX OFFICER, WARD-1(1), BILASPUR, BILASPUR

The appeal of the assessee is allowed, whereas the appeal of revenue stands dismissed

Bench: Shri Partha Sarathi Chaudhury, Jm & Shri Arun Khodpia, Am आयकर अपील सं. / Ita No: 160/Rpr/2025 (िनधा"रण वष" Assessment Year: 2015-16)

purchase price as per section 50C of the Act, by applying a 10% tolerance limit retrospectively, and further erred in holding that the correct provision applicable was section 56(2)(vii)(b) of the Act instead of section 69, despite the fact that section 56(2)(vii)(b) is applicable only to individuals and Hindu Undivided Families (HUFs) for Assessment

BHARAT BENEFICATION & POWER PVT. LTD., RAIGARH,RAIGARH vs. PR.COMMISSIONER OF INCOME TAX (CENTRAL), BHOPAL, BHOPAL

Bench: Shri Partha Sarathi Chaudhury, Jm & Shri Arun Khodpia, Am आयकर अपील सं. / Ita No: 336/Rpr/2025 (िनधा"रण वष" Assessment Year: 2018-19)

section 263, the short synopsis submitted before us is extracted hereunder for the sake of clarity: Bharat Benefication & Power Pvt. Ltd., Raigarh AY 2018/19 Submission of assessee 1. Rs. 70 lakh Sky Alloys & Power Pvt. Ltd. i) Impugned assessment reopened on the issue of alleged bogus purchases from two parties. ii) In the reopened assessment, as per the settled

GAJRAJ GIRI, BILASPUR,BILASPUR vs. INCOME TAX OFFICER, WARD-2(1), BILASPUR, BILASPUR

In the result, the assessee's appeal is allowed in terms of my observations above

Bench: Shri Ravish Soodआयकर अपील सं. / Ita No. 222/Rpr/2023 "नधा"रण वष" / Assessment Year : 2014-15 Gajraj Giri S/O. Raghuraj Giri, Sai Mandir Road, Jaharbhata, Bilaspur (C.G.)-495 001 Pan : Afgpg0112E .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Ward 2(1), Bilaspur (C.G.) ……""यथ" / Respondent

56(2) are not applicable to stock in trade. 6. The appellant reserves the right to add, alter and omit all or any of the grounds of appeal with the permission of the Hon'ble appellate authority.” 3 Gajraj Giri Vs. ITO, Ward-2(1), Bilaspur 2. Based on information that the assessee had purchased an immovable property

M/S RAMESH CHEMICALS INDS,,BILASPUR(CG) vs. I.T.O. WARD 1(2), BILASPUR(CG)

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

Bench: Shri Ravish Soodआयकर अपील सं. / Ita No. 321/Rpr/2014 "नधा"रण वष" / Assessment Year : 2005-06 M/S. Ramesh Chemical Industries Dayalband, Bilaspur (C.G.) Pan: Aabfr3141A .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-1(2), Raipur (C.G.) ……""यथ" / Respondent

56,252/- to M/s. Nishant Enterprises as against bill of Rs.1,55,252/-. On being queried, it was though stated by the assessee firm that the said infirmity had crept in due to a clerical mistake, but the A.O did not find favour with the said claim and made an addition of Rs.1,000/- to the assessee’s returned income

INCOME TAX OFFICER, RAIPUR vs. RAHUL KATHURIA, RAIPUR

In the result, appeal of the Revenue in ITA No

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos.151 & 152/Rpr/2025 "नधा"रण वष" / Assessment Years : 2018-19 & 2019-20 The Income Tax Officer/Income Tax Officer-3(1) Raipur (C.G.)

Bogus Long term capital gain (LTCG)/Loss. ……. The purchase and sale transactions were carried through registered broker and through demat accounts but the assessee cannot escape from the onus of proving the transaction to be genuine. It is a fact that the assessee has purchased and the sold i.e. traded the scrip of Oasis Tradelink in order to claim

INCOME TAX OFFICER-3(1), RAIPUR, RAIPUR vs. RAHUL KATHURIA, RAIPUR

In the result, appeal of the Revenue in ITA No

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos.151 & 152/Rpr/2025 "नधा"रण वष" / Assessment Years : 2018-19 & 2019-20 The Income Tax Officer/Income Tax Officer-3(1) Raipur (C.G.)

Bogus Long term capital gain (LTCG)/Loss. ……. The purchase and sale transactions were carried through registered broker and through demat accounts but the assessee cannot escape from the onus of proving the transaction to be genuine. It is a fact that the assessee has purchased and the sold i.e. traded the scrip of Oasis Tradelink in order to claim

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 2(1), RAIPUR vs. PSA CONSTRUCTION, RAIPUR

In the result, appeal of the revenue is dismissed

Bench: SHRI RAVISH SOOD (Judicial Member), SHRI ARUN KHODPIA (Accountant Member)

56 taxmann.com 286, 231 Taxman 384, 375 ITR 373 In case of unaccounted entries found in books of account of assessee, though it is obligation of Assessing Officer to conduct proper scrutiny of material, in event of Assessing Officer failing to discharge his functions properly, obligation to conduct proper inquiry shifts to Commissioner (Appeals) and Tribunal and they cannot simply

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAIPUR, RAIPUR vs. S.P. BUILDCON PVT. LTD., RAIPUR

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am (Ita No. 35 & 38/Rpr/2023) (Assessment Year: 2014-15 & 2016-17) Deputy Commissioner Of Income Tax, V S.P. Buildcon Private Limited Circle-1(1), S Ff-06, Shyam Plaza, Pandri Bus Stand, Aayakar Bhawan, Civil Lines, Raipur Raipur Pan: Aajcs0653H (अपीलाथ" /Applicant) . (""यथ" / Respondent) . िनधा"रती क" ओर से /Assessee By : Shri Amit M. Jain, Adv. राज"व क" ओर से /Revenue By : Shri Satya Prakash Sharma, Sr. Dr सुनवाई क" तार"ख / Date Of Hearing : 05-09-2023 घोषणा क" तार"ख/Date Of Pronouncement : 28-11-2023

56 ITR 1, wherein the view was taken that the profit accrues when the books of account are closed. In the light of the judicial precedent laid by Hon'ble Gujarat High Court in CIT Vs. M. B. Stockholding (P) Ltd.(supra), and since no decision of jurisdictional High Court was cited in support of impugned action

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAIPUR, RAIPUR vs. S.P. BUILDCON PVT. LTD., RAIPUR, RAIPUR

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am (Ita No. 35 & 38/Rpr/2023) (Assessment Year: 2014-15 & 2016-17) Deputy Commissioner Of Income Tax, V S.P. Buildcon Private Limited Circle-1(1), S Ff-06, Shyam Plaza, Pandri Bus Stand, Aayakar Bhawan, Civil Lines, Raipur Raipur Pan: Aajcs0653H (अपीलाथ" /Applicant) . (""यथ" / Respondent) . िनधा"रती क" ओर से /Assessee By : Shri Amit M. Jain, Adv. राज"व क" ओर से /Revenue By : Shri Satya Prakash Sharma, Sr. Dr सुनवाई क" तार"ख / Date Of Hearing : 05-09-2023 घोषणा क" तार"ख/Date Of Pronouncement : 28-11-2023

56 ITR 1, wherein the view was taken that the profit accrues when the books of account are closed. In the light of the judicial precedent laid by Hon'ble Gujarat High Court in CIT Vs. M. B. Stockholding (P) Ltd.(supra), and since no decision of jurisdictional High Court was cited in support of impugned action