VISHAL BUILDERS, RAIPUR,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1), RAIPUR, RAIPUR

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.263/Rpr/2023 "नधा"रण वष" / Assessment Year : 2013-14 Vishal Builders 7/619, Gawri Bhawan, Fafadih Naka, Raipur-492001(C.G.) Pan : Aaefv1401G .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle 3(1), Raipur, C.G.

capital. 10 Vishal Builders vs. ACIT, Circle-3(1), Raipur (C.G.) 7. We have deliberated at length on the issue in hand and concur with the specific observation of the CIT(Appeals) that the AO had rejected the books results of the assessee not on the basis of any substantial lapse in its books of account, but rather

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1(1), RAIPUR vs. M/S SANJAY AGRAWAL, RAIPUR

Bench: Shri Ravish Sood & Shri Rathod Kamlesh Jayantbhaiआयकर अपील सं. / Ita No. 82/Rpr/2018 Co No.05/Rpr/2018 "नधा"रण वष" / Assessment Year : 2013-14 The Assistant Commissioner Of Income Tax, Circle-1(1), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Sanjay Agrawal 35-36, Millenium Plaza, G. E. Road, Raipur (C.G.) Pan : Aapfs0532E ……""यथ" / Respondent Assessee By : Shri Veekaas S. Sharma, Ar Revenue By : Shri G.N Singh, Dr सुनवाई क" तार"ख / Date Of Hearing : 24.05.2022 घोषणा क" तार"ख / Date Of Pronouncement : 09.06.2022

capital. 7. We have deliberated at length on the issue in hand and concur with the specific observation of the CIT(Appeals) that the AO had rejected the books results of the assessee not on the basis of any substantial lapse in its books of account, but rather on the basis of vague observations that were recorded

SHRI SHRI SHIV SHANKAR AGRAWAL,KORBA(CG) vs. THE INCOME TAX OFFICER-1, KORBA(CG)

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

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am (Ita No. 270/Rpr/2016) (Assessment Year: 2008-09)

gains of business" has to be computed in accordance with the method of accounting regularly employed by the assessee. Furthermore, for rejecting the books of accounts under condition no.2, the Learned AO has to demonstrate that the accounts are not correct and complete as there exist serious defects in maintenance of accounts, irrespective of whether accounting methods or accounting standards