CHHATTISGARH STATE POWER GENERATION CO. LTD.,RAIPUR vs. DY. COMMISSIONER OF INCOME TAX-1(1), RAIPUR

In the result, the appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.16/Rpr/2017 "नधा"रण वष" / Assessment Year : 2009-10 Chhattisgarh State Power Generation Company Ltd. O/O. Executive Director-Finance Ground Floor, Vidyut Seva Bhawan, Daganiya, Raipur-492 001 (C.G.) Pan : Aadcc5772F .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-1(2), Raipur (C.G.) ……""यथ" / Respondent आयकर अपील सं. / Ita No.24/Rpr/2022 "नधा"रण वष" / Assessment Year : 2018-19 Chhattisgarh State Power Generation Company Ltd. Ground Floor, Vidyut Seva Bhawan, Daganiya, Raipur-492 001 (C.G.) Pan : Aadcc5772F .......अपीलाथ" / Appellant बनाम / V/S.

capital expenditure by the A.O, which, therein, had been upheld by the CIT(Appeals) is primarily based on the fact that such approach was adopted by the A.O while framing assessment in the case of CSEB for years prior to A.Y.2009-10. We are of the considered view that now when in the case of CSEB for A.Y.2004-05 the matter

THE CHHATTISGARH STATE POWER GENERATION COMPANY LIMITED, RAIPUR,RAIPUR (CG) vs. THE ASSTT. COMMISSIONER OF INCOME TAX 1(2),RAIPUR, RAIPUR (CG)

In the result, the appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.16/Rpr/2017 "नधा"रण वष" / Assessment Year : 2009-10 Chhattisgarh State Power Generation Company Ltd. O/O. Executive Director-Finance Ground Floor, Vidyut Seva Bhawan, Daganiya, Raipur-492 001 (C.G.) Pan : Aadcc5772F .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-1(2), Raipur (C.G.) ……""यथ" / Respondent आयकर अपील सं. / Ita No.24/Rpr/2022 "नधा"रण वष" / Assessment Year : 2018-19 Chhattisgarh State Power Generation Company Ltd. Ground Floor, Vidyut Seva Bhawan, Daganiya, Raipur-492 001 (C.G.) Pan : Aadcc5772F .......अपीलाथ" / Appellant बनाम / V/S.

capital expenditure by the A.O, which, therein, had been upheld by the CIT(Appeals) is primarily based on the fact that such approach was adopted by the A.O while framing assessment in the case of CSEB for years prior to A.Y.2009-10. We are of the considered view that now when in the case of CSEB for A.Y.2004-05 the matter

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 4(1), RAIPUR vs. M/S SUPER IRON AND STEEL PVT LTD.,, RAIPUR

In the result, appeal of the revenue is partly allowed and Cross objection of the assessee is dismissed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.261/Rpr/2017 ("नधा"रण वष" / Assessment Year :2010-2011) Acit-4(1), Raipur Vs M/S Super Iron & Steel Pvt. Ltd., Pritpal Farm House, Vip Road, Raipur(C.G.) Pan No. : Aaics 2579 R (अपीलाथ" /Appellant) .. (""यथ" / Respondent) & Cross Objection No.13/Rpr/2017 (Arising Out Of Ita No.261/Rpr/2017) ("नधा"रण वष" / Assessment Year :2010-2011) M/S Super Iron & Steel Pvt. Ltd., Vs Acit-4(1), Raipur Pritpal Farm House, Vip Road, Raipur(C.G.) Pan No. : Aaics 2579 R (अपीलाथ" /Appellant) (""यथ" / Respondent) ..

40A(2)(b) by the Ld AO has rightly been deleted by the Ld CIT(A). This finding of the ld. CIT(A) is worth sustaining, so we do. Thus, ground no 1 of the appeal of the revenue is dismissed. Ground no 2. Deleting of the addition by Ld CIT(A) of Rs. 65,67,679/- made

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

40A(a)(a) would not arise where assessee was only facilitating the payments by insurer to the insured for availing the medical facilities and assessee did not claim such expenditure in its P&L account. 17. It is further submitted by Ld AR that provision of sec. 40(a)(ia) is not applicable on income recognised as deemed dividend

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

40A(a)(a) would not arise where assessee was only facilitating the payments by insurer to the insured for availing the medical facilities and assessee did not claim such expenditure in its P&L account. 17. It is further submitted by Ld AR that provision of sec. 40(a)(ia) is not applicable on income recognised as deemed dividend

ASSISTANT COMMISSIONER OF INCOME TAX (CENTRAL CIRCLE)-1, RAIPUR vs. M/S. CHHATTISGARH STEEL & POWER LIMITED, RAIPUR

In the result, appeal of the revenue is partly allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./ Ita No. 96/Rpr/2021 "नधा"रण वष" / Assessment Year : 2011-12

capital of Rs.41 crore and reserves & surplus of Rs.15.74 crore aggregating to Rs.56.74 crore which were more than the investment made by it in exempt dividend income yielding shares, therefore, no disallowance of any part of interest expenditure was called for in its case. Ld. AR in support of her aforesaid contention that no disallowance u/s.14A can be made

ASSISTANT COMMISSIONER OF INCOME TAX (CENTRAL)-I, RAIPUR vs. MESERS CHHATTISGARH STEEL & POWER LIMITED, RAIPUR

In the result, appeal of the revenue in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita Nos.91 & 92/Rpr/2020 "नधा"रण वष" / Assessment Years : 2012-13 & 2013-14 The Assistant Commissioner Of Income Tax, Central Circle-1, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Chhattisgarh Steel & Power Limited. 142, Sahid Smarak, G.E Road, Raipur (C.G.) Pan : Aaccc7479G ……""यथ" / Respondent

40A(2) opens with a non-obstante clause and spells out what expenses and payments are not deductible in certain circumstances. Section 41 elaborates conditions which apply with respect to certain deductions which are otherwise allowed in respect of loss, expenditure or trading liability etc. If we consider this scheme, Sections 40- 43B, are concerned with and enact different conditions

ASSISTANT COMMISSIONER OF INCOME TAX, (CENTRAL)-I, RAIPUR vs. MESERS CHHATTISGARH STEEL & POWER LIMITED, RAIPUR

In the result, appeal of the revenue in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita Nos.91 & 92/Rpr/2020 "नधा"रण वष" / Assessment Years : 2012-13 & 2013-14 The Assistant Commissioner Of Income Tax, Central Circle-1, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Chhattisgarh Steel & Power Limited. 142, Sahid Smarak, G.E Road, Raipur (C.G.) Pan : Aaccc7479G ……""यथ" / Respondent

40A(2) opens with a non-obstante clause and spells out what expenses and payments are not deductible in certain circumstances. Section 41 elaborates conditions which apply with respect to certain deductions which are otherwise allowed in respect of loss, expenditure or trading liability etc. If we consider this scheme, Sections 40- 43B, are concerned with and enact different conditions

SHRI TIRATH RAJ SHUKLA,BHILAI vs. INCOME TAX OFFICER, WARD-1(2), BHILAI

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 07/Rpr/2020 "नधा"रण वष" / Assessment Year : 2015-16 Shri Tirth Raj Sukla 1/3, Maitri Nagar, Risali, Bhilai (C.G.). Pan : Atqps4633J .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-1(2), Bhilai (C.G.). ……""यथ" / Respondent Assessee By :Shri S.R Rao, Advocate Revenue By :Shri G.N Singh, Sr. Dr

capital expenditure, therefore, disallowance made by the A.O u/s.40A(3) of the Act was beyond comprehension. 6 Shri Tirth Raj Sukla Vs. ITO-1(2) 8. Before proceeding any further we deem it fit to cull out the provisions of Section 40A(3) of the Act, which reads as under: “(3) where the assessee incurs any expenditure in respect

SHUBH KARAN MAHNOT, AMBIKAPUR,AMBIKAPUR vs. INCOME TAX OFFICER, WARD-AMBIKAPUR, AMBIKAPUR

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

Bench: Shri Ravish Soodआयकर अपील सं. / Ita No. 155/Rpr/2023 "नधा"रण वष" / Assessment Year : 2018-19 Shubh Karan Mahnot Prop. M/S. Bikaner Agencies, Tulshi Chowk, Near Primary School, Gangapur, Ambikapur (C.G.)-497 001 Pan : Aalhs2528G .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Ward- Ambikapur (C.G.) ……""यथ" / Respondent

gains of business or profession under sub-section (3A) of section 40A where a payment or aggregate of the payments made to a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft, exceeds twenty thousand rupees in the cases and circumstances specified hereunder, namely :- (a).…………………………………………………………………………… …………………………….. (b) where the payment

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1(1), BILASPUR vs. MESERS NARMADA DRINKS PRIVATE LIMITED, BILASPUR

In the result ground No. 2 & 3 of the appeal of the revenue stands rejected

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am (Ita No. 89/Rpr/2020) (Assessment Year: 2015-16) Deputy Commissioner Of Income Tax, Vs M/S Narmada Drinks Private Limited Circle-1(1), Aayakar Bhawan, Sirgitti Industrial Area, Tifra, Bilaspur Mahima Complex, Bilaspur (C.G.) (C.G.) Pan: Aaacn5880C (अपीलाथ" /Applicant) (""यथ" / Respondent) .. िनधा"रती क" ओर से /Assessee By : Shri R.B. Doshi, Ca राज"व क" ओर से /Revenue By : Shri V.K. Singh, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 21.09.2023 घोषणा क" तार"ख/Date Of Pronouncement : 08.11.2023

capital and no borrowed funds were utilized for making investments. Regarding the sufficiency of own funds for making the investments in securities for Rs 40,62,00,00 for the year under consideration the appellant during the assessment and in appeal has placed relevant material on record. Relying on the decision of the Hon'ble Bombay High Court

THE ASSISTANT COMMISSIONER OF INCOME-TAX-2(1)BHILAI, BHILAI(CG) vs. M/S SMS SHIVNATH INFRASSTRUCTURE PVT LTD., DURG, DURG(CG)

In the result, appeal of the revenue in ITA No

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita No.87/Rpr/2017 (ननधाारण वषा / Assessment Year :2012-2013) Acit-2(1), Bhilai Vs M/S Sms Shivnath Infrastructure Pvt Ltd.,Toll Plaza, Near Dhamdhanaka, Durg. Pan No. :Aadcs 2258 Q (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & आयकर अऩीऱ सं./Ita No.107/Rpr/2016 (ननधाारण वषा / Assessment Year :2012-2013) M/S Sms Shivnath Infrastructure Vs Pr.Cit-2, Raipur Pvt Ltd.,Toll Plaza, Near Dhamdhanaka, Durg. Pan No. :Aadcs 2258 Q (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

2. The Appellant filed its original return of income for the AY under appeal electronically on 28.9.2012 declaring income of Rs. 1,13,05,394. Copy of acknowledgement of ITR as well as computation of income enclosed at pages 39-42 of the paper book filed by the Assessee. The declared income comprised of income from capital gains and income

M/S SMS SHIVNATH INFRASTRUCTURE PVT LTD,DURG(CG) vs. THE PR. COMMISSIONER OF INCOME TAX-2, RAIPUR (CG)

In the result, appeal of the revenue in ITA No

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita No.87/Rpr/2017 (ननधाारण वषा / Assessment Year :2012-2013) Acit-2(1), Bhilai Vs M/S Sms Shivnath Infrastructure Pvt Ltd.,Toll Plaza, Near Dhamdhanaka, Durg. Pan No. :Aadcs 2258 Q (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & आयकर अऩीऱ सं./Ita No.107/Rpr/2016 (ननधाारण वषा / Assessment Year :2012-2013) M/S Sms Shivnath Infrastructure Vs Pr.Cit-2, Raipur Pvt Ltd.,Toll Plaza, Near Dhamdhanaka, Durg. Pan No. :Aadcs 2258 Q (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

2. The Appellant filed its original return of income for the AY under appeal electronically on 28.9.2012 declaring income of Rs. 1,13,05,394. Copy of acknowledgement of ITR as well as computation of income enclosed at pages 39-42 of the paper book filed by the Assessee. The declared income comprised of income from capital gains and income

HARSHDEEP SINGH JUNEJA,RAIPUR vs. DY. COMMISSIONER OF INCOME TAX, CPC, BANGALORE

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 106/Rpr/2021 "नधा"रण वष" / Assessment Year : 2018-19 Harshdeep Singh Juneja 21/537, Katora Talab Road, Raipur (C.G.)-492 001 Pan : Acupj6153B .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax, Circle-1(1), Raipur (C.G.) ……""यथ" / Respondent

capital, personal, advertisement expenditure etc. (d) Disallowance/deemed income under section 40A(3) (A) On the basis of the examination of books of account and other No. relevant documents/evidence, whether the expenditure covered under section 40A(3) read with rule 6DD were made by the account payee cheque drawn on a bank or account payee bank draft. If not, please furnish

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

capital gain (LTCG) on sale of 18,98,410/- land by the assessee firm which was claimed as exempt. 10 Five Star Construction Company Vs. DCIT-1(1), Bhilai Accordingly, the A.O after making the aforesaid additions /disallowances vide his order passed under Sec.144 r.w.s. 143(3), dated 31.12.2016 assessed the income of the assessee firm

SOUTH EASTERN COALFIELDS LTD,BILASPUR(CG) vs. DY.. C.I.T.-1(1), BILASPUR(CG)

In the result, all the captioned appeals of the assessee as well as revenue are either allowed, partly allowed for statistical purposes or dismissed, in accordance with our observations herein above

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.201/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.401/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.162/Bil/2017 (Ay : 2010-2011) आयकर अपील सं./Ita No.115/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.102/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.103/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.204/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.169/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.33/Rpr/2019 (Ay : 2016-2017) South Eastern Coal Fields Ltd., Vs Jcit, Range-1, Bilaspur Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) .. (""यथ" / Respondent) & आयकर अपील सं./Ita No.204/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.382/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.103/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.98/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.99/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.188/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.171/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.54/Rpr/2019 (Ay : 2016-2017) Dcit, Circle-1(1), Bilaspur Vs South Eastern Coal Fields Ltd., Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" ओर से /Assessee By : Shri Ajit Korde, Advocate, Shri Ankur Goel & Shri Ankit Agrawal, Cas राज"व क" ओर से /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 26/09/2023 घोषणा क" तार"ख/Date Of Pronouncement : 30/10/2023

gains could be charged to tax u/s 45 as the compensation received by the assessee on nationalization of its banking undertaking which included intangible assets tenancy rights etc. was not allocable item-wise. In para no.5 of this judgment, the Hon'ble Supreme Court noted that by an amendment to section 50B inserted by the Finance Act, 1999 with effect

THE DEPUTY COMMISSIONER OF INCOME TAX,CIRCLE 1(1)BILASPUR, BILASPUR(CG) vs. THE SOUTH EASTERN COAL FIELDS LTD., BILASPUR, BILASPUR(CG)

In the result, all the captioned appeals of the assessee as well as revenue are either allowed, partly allowed for statistical purposes or dismissed, in accordance with our observations herein above

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.201/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.401/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.162/Bil/2017 (Ay : 2010-2011) आयकर अपील सं./Ita No.115/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.102/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.103/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.204/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.169/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.33/Rpr/2019 (Ay : 2016-2017) South Eastern Coal Fields Ltd., Vs Jcit, Range-1, Bilaspur Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) .. (""यथ" / Respondent) & आयकर अपील सं./Ita No.204/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.382/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.103/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.98/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.99/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.188/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.171/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.54/Rpr/2019 (Ay : 2016-2017) Dcit, Circle-1(1), Bilaspur Vs South Eastern Coal Fields Ltd., Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" ओर से /Assessee By : Shri Ajit Korde, Advocate, Shri Ankur Goel & Shri Ankit Agrawal, Cas राज"व क" ओर से /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 26/09/2023 घोषणा क" तार"ख/Date Of Pronouncement : 30/10/2023

gains could be charged to tax u/s 45 as the compensation received by the assessee on nationalization of its banking undertaking which included intangible assets tenancy rights etc. was not allocable item-wise. In para no.5 of this judgment, the Hon'ble Supreme Court noted that by an amendment to section 50B inserted by the Finance Act, 1999 with effect

THE DEPUTY COMMISSIONER OF INCOME TAX,CIRCLE 1(1)BILASPUR, BILASPUR(CG) vs. THE SOUTH EASTERN COAL FIELDS LTD., BILASPUR, BILASPUR(CG)

In the result, all the captioned appeals of the assessee as well as revenue are either allowed, partly allowed for statistical purposes or dismissed, in accordance with our observations herein above

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.201/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.401/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.162/Bil/2017 (Ay : 2010-2011) आयकर अपील सं./Ita No.115/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.102/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.103/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.204/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.169/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.33/Rpr/2019 (Ay : 2016-2017) South Eastern Coal Fields Ltd., Vs Jcit, Range-1, Bilaspur Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) .. (""यथ" / Respondent) & आयकर अपील सं./Ita No.204/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.382/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.103/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.98/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.99/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.188/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.171/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.54/Rpr/2019 (Ay : 2016-2017) Dcit, Circle-1(1), Bilaspur Vs South Eastern Coal Fields Ltd., Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" ओर से /Assessee By : Shri Ajit Korde, Advocate, Shri Ankur Goel & Shri Ankit Agrawal, Cas राज"व क" ओर से /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 26/09/2023 घोषणा क" तार"ख/Date Of Pronouncement : 30/10/2023

gains could be charged to tax u/s 45 as the compensation received by the assessee on nationalization of its banking undertaking which included intangible assets tenancy rights etc. was not allocable item-wise. In para no.5 of this judgment, the Hon'ble Supreme Court noted that by an amendment to section 50B inserted by the Finance Act, 1999 with effect