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.)

68,750/- 10.12.2012 Corporation, Raipur 5. M/s. Shiv Shankar 37,70,000/- 4,71,250/- 11.12.2012 Chawal Udyog, Raipur 6. M/s. Hardha Agency 77,60,000/- 5,35,000/- 27.11.2012 Total 14,41,32,250/- 7 Kamlesh Kumar Kesharwani Vs. ACIT-1(1), Raipur ITA Nos. 122 to 124/RPR/2024 ITA Nos. 135, 136 & 138/RPR/2024 6. The A.O observed that

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.)

68,750/- 10.12.2012 Corporation, Raipur 5. M/s. Shiv Shankar 37,70,000/- 4,71,250/- 11.12.2012 Chawal Udyog, Raipur 6. M/s. Hardha Agency 77,60,000/- 5,35,000/- 27.11.2012 Total 14,41,32,250/- 7 Kamlesh Kumar Kesharwani Vs. ACIT-1(1), Raipur ITA Nos. 122 to 124/RPR/2024 ITA Nos. 135, 136 & 138/RPR/2024 6. The A.O observed that

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.)

68,750/- 10.12.2012 Corporation, Raipur 5. M/s. Shiv Shankar 37,70,000/- 4,71,250/- 11.12.2012 Chawal Udyog, Raipur 6. M/s. Hardha Agency 77,60,000/- 5,35,000/- 27.11.2012 Total 14,41,32,250/- 7 Kamlesh Kumar Kesharwani Vs. ACIT-1(1), Raipur ITA Nos. 122 to 124/RPR/2024 ITA Nos. 135, 136 & 138/RPR/2024 6. The A.O observed that

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.)

68,750/- 10.12.2012 Corporation, Raipur 5. M/s. Shiv Shankar 37,70,000/- 4,71,250/- 11.12.2012 Chawal Udyog, Raipur 6. M/s. Hardha Agency 77,60,000/- 5,35,000/- 27.11.2012 Total 14,41,32,250/- 7 Kamlesh Kumar Kesharwani Vs. ACIT-1(1), Raipur ITA Nos. 122 to 124/RPR/2024 ITA Nos. 135, 136 & 138/RPR/2024 6. The A.O observed that

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.)

68,750/- 10.12.2012 Corporation, Raipur 5. M/s. Shiv Shankar 37,70,000/- 4,71,250/- 11.12.2012 Chawal Udyog, Raipur 6. M/s. Hardha Agency 77,60,000/- 5,35,000/- 27.11.2012 Total 14,41,32,250/- 7 Kamlesh Kumar Kesharwani Vs. ACIT-1(1), Raipur ITA Nos. 122 to 124/RPR/2024 ITA Nos. 135, 136 & 138/RPR/2024 6. The A.O observed that

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)

purchases amounting to Rs.2,92,93,2887- and taxing only 25% of these bogus claim goes against the principles of Sections 68

DEPUTY COMMISSIONER OF INCOME TAX 1(1), RAIPUR vs. TIRUPATI BALAJI FOODS PRIVATE LIMITED, RAIPUR

In the result, appeal of the Revenue is allowed for statistical purposes

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpiaआयकर अपील सं. / Ita No.657/Rpr/2025 "नधा"रण वष" / Assessment Year : 2012-13 The Deputy Commissioner Of Income Tax-1(1), Raipur (C.G.)

bogus claim is against the principles of Sections 68 and 69C of the Act, and if the purchases are bogus

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

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE- 1(1), BHILAI vs. SHRI NITIN SANKHLA, DURG

In the result, grounds no 2 to 7 on this single issue of the appeal of the revenue are dismissed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.98/Rpr/2020 (Assessment Year: 2017-18) Asstt. Commissioner Of Income Tax- Vs Shri Nitin Sankhla 1(1), Bhilai 1St Floor, Navkar Bullion, Above Navin Jeweller, Jawahar Chowk, Durg Pan No. :Bbups 4874 C (अपीलाथ" /Appellant) (""यथ" / Respondent) .. : Shri Ravi Agarwal, Ca "नधा"रती क" ओर से /Assessee By राज"व क" ओर से /Revenue By : Shri Ila M. Parmar, Cit- Dr सुनवाई क" तार"ख / Date Of Hearing : 02/06/2023 घोषणा क" तार"ख/Date Of Pronouncement : 08/06/2023 आदेश / O R D E R Per Arun Khodpia, Am :

purchases are not supported by the quantitative details and the AO did not make any enquiry on the material supplied by the assessee. Thus the AO neither brought any material on record to establish that the sale bills are bogus nor provided any evidence that such sales are bogus. It is also an open fact that the demonetization of Rs.500

ASHOK KUMAR WADHWANI, RAIPUR,RAIPUR vs. INCOME TAX OFFICER, WARD-1(2), RAIPUR, RAIPUR

In the result, appeal in ITA No

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpiaआयकर अपील सं./Ita Nos.117 &118/Rpr/2024 "नधा"रण वष" /Assessment Year: 2014-15 & 2016-17 Ashok Kumar Wadhwani, Ujwal Udyog, Sinodha, Neora, Tilda, Raipur, Chhattisgarh. Pan: Aahpw1400B .......अपीलाथ" / Appellant बनाम / V/S.

section 145(3) of the L.T.Act. For the reasons detailed above, the purchases recorded in the books of account of the assessee amounting to Rs.2,87,51,400/- are held to be bogus and 25% of such purchase amount works out of Rs.71,87,850/- is hereby added to the total income of the assessee in respect of transaction shown

ASHOK KUMAR WADHWANI, RAIPUR,RAIPUR vs. INCOME TAX OFFICER, WARD-1(2), RAIPUR, RAIPUR

In the result, appeal in ITA No

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpiaआयकर अपील सं./Ita Nos.117 &118/Rpr/2024 "नधा"रण वष" /Assessment Year: 2014-15 & 2016-17 Ashok Kumar Wadhwani, Ujwal Udyog, Sinodha, Neora, Tilda, Raipur, Chhattisgarh. Pan: Aahpw1400B .......अपीलाथ" / Appellant बनाम / V/S.

section 145(3) of the L.T.Act. For the reasons detailed above, the purchases recorded in the books of account of the assessee amounting to Rs.2,87,51,400/- are held to be bogus and 25% of such purchase amount works out of Rs.71,87,850/- is hereby added to the total income of the assessee in respect of transaction shown

M/S PURVI FINVEST LIMITED,BILASPUR vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1(1),, BILASPUR

In the result, appeal of the assessee company being devoid and bereft of any merit is dismissed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpia

purchase shares of an unknown company. In fact, such a high premium is not commanded even by blue chip quoted companies. It is not a 20 M/s. Purvi Finvest Limited Vs. DCIT, Circle-1(1) case where angel investors had invested upon being satisfied with the innovativeness and entrepreneurial skills of the management. With the amendment to section 68, applicable

M/S TRIMURTHY FINVEST LIMITED,BILASPUR vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1(1), BILASPUR

In the result, appeal of the assesse company being devoid and bereft of any merit is dismissed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpia

purchase shares of an unknown company. In fact, such a high premium is not commanded even by blue chip quoted companies. It is not a case where angel investors had invested upon being satisfied with the innovativeness and entrepreneurial skills of the management. With the amendment to section 68, applicable w.e.f from AY 2013-13, not only is the assessee

EAST WEST FINVEST INDIA LIMITED,BILASPUR vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -1(1), BILASPR

In the result, appeal of the assessee company being devoid and bereft of any merit is dismissed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpia

purchase shares of an unknown company. In fact, such a high premium is not commanded even by blue chip quoted companies. It is not a case where angel investors had invested upon being satisfied with the innovativeness and entrepreneurial skills of the management. With the amendment to section 68, applicable w.e.f from AY 2013-13, not only is the assessee

INCOME TAX OFFICER, WARD 2(1), RAIPUR vs. MESERS ARYAN BUILDERS AND DEVELOPERS PRIVATE LIMITED, RAIPUR

In the result, both appeal of the revenue and cross objection of the assessee stand dismissed in terms of our observations

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

purchased during the year have been classified as Inventory. The AO found that there were receipts of share capital and share premium to the tune of Rs.4,06,000/- and Rs.3,02,941,000/- respectively from various shareholders. The information was sought from the shareholders u/s.133(6) of the Act with a view to conduct enquiry into the genuineness

SANJAY GRAIN PRODUCTS(P) LTD., RAIPUR,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAIPUR, RAIPUR

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 293/Rpr/2023 "नधा"रण वष" / Assessment Year : 2015-16 Sanjay Grain Products (P) Ltd. 34-35, Adishwar Complex, Ram Nagar Para, Raipur-492 001 Pan : Aadcs5038G .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-1(1), Raipur (C.G.) ……""यथ" / Respondent

bogus purchases of Rs. 10,99,88,000.00 under section 68 of the Income Tax Act, 1961 (hereinafter referred to as the Act). 2.2. BECAUSE

AGRAWAL INFRABUILD PRIVATE LIMITED ,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-II, RAIPUR

In the result, both appeals of the assessee are allowed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita Nos.10 & 11/Rpr/2020 (ननधाारण वषा / Assessment Year :2013-2014 & 2014-2015) Agrawal Infrabuild Private Limited, Vs Acit, Central Circle-Ii, Raipur 1St Floor, V.R.Plaza, Bilaspur Pan No. :Aafca 6636 C (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

bogus share application money u/s 68. The addition made by the A.O. and confirmed by by Ld CIT-A, were unjustified, unwarranted and uncalled for. 9. In continuation, Ld AR further drew our attention to the submission of the assessee before the Ld AO during the post search assessment proceedings submitted on 13.11.2018, the same is extracted as under

AGRAWAL INFRABUILD PRIVATE LIMITED ,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-II, RAIPUR

In the result, both appeals of the assessee are allowed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita Nos.10 & 11/Rpr/2020 (ननधाारण वषा / Assessment Year :2013-2014 & 2014-2015) Agrawal Infrabuild Private Limited, Vs Acit, Central Circle-Ii, Raipur 1St Floor, V.R.Plaza, Bilaspur Pan No. :Aafca 6636 C (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

bogus share application money u/s 68. The addition made by the A.O. and confirmed by by Ld CIT-A, were unjustified, unwarranted and uncalled for. 9. In continuation, Ld AR further drew our attention to the submission of the assessee before the Ld AO during the post search assessment proceedings submitted on 13.11.2018, the same is extracted as under