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.

5. Further, on perusal of the details, it was gathered by the A.O that the assessee had shown an amount of Rs.9,75,363/- as a liability outstanding against stale cheques. The A.O holding a conviction that there could be no liability based on stale cheques for the reason that the concerned party could not raise any claim

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.

5. Further, on perusal of the details, it was gathered by the A.O that the assessee had shown an amount of Rs.9,75,363/- as a liability outstanding against stale cheques. The A.O holding a conviction that there could be no liability based on stale cheques for the reason that the concerned party could not raise any claim

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

gains arising before the 1st day of April, 1946, or after the 31st day of March, 1948, and before the 1st day of April, 1956. Explanation 2.—The expression "accumulated profits" in sub- clauses (a), (b), (d) and (e), shall include all profits of the company up to the date of distribution or payment referred to in those sub-clauses

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

gains arising before the 1st day of April, 1946, or after the 31st day of March, 1948, and before the 1st day of April, 1956. Explanation 2.—The expression "accumulated profits" in sub- clauses (a), (b), (d) and (e), shall include all profits of the company up to the date of distribution or payment referred to in those sub-clauses

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1(1), RAIPUR vs. MESERSS T.C. BUILDCON PRIVATE LIMITED, RAIPUR

In the result CO filed by the assessee is allowed and the appeal filed by the revenue stands dismissed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am Assistant Commissioner Of Vs M/S. Tc Buildcon Pvt. Ltd. Income Tax, Circle 1(1) Vasudev, B-5, Sector-5, Raipur, (C.G.) Devendra Nagar, Raipur (C.G.) Pan: Aacct4516F Cross Objection No. 26/Rpr/2019 (Arising Out Of Ita No. 173/Rpr/2019) (िनधा"रण वष" / Assessment Year : 2011-12) Assistant Commissioner Of Vs M/S. Tc Buildcon Pvt. Ltd. Income Tax, Circle 1(1) Vasudev, B-5, Sector-5, Raipur, (C.G.) Devendra Nagar, Raipur (C.G.) Pan: Aacct4516F (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" ओर से /Assessee By : Shri Sunil Kumar Agrawal, Ca राज"व क" ओर से /Revenue By : Shri V.K. Singh, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 16-08-2023 घोषणाक" तार"ख/Date : 27-10-2023 Of Pronouncement आदेश / O R D E R Per Arun Khodpia, Am:

43,210/- -------------------------------------------------- Total Income : Rs. 5,54,73390/- 7 I.T.A. No.173/RPR/2019 CO No. 26/RPR/2019 4.2 Aggrieved with the aforementioned addition and the order of Ld. AO, assessee preferred an appeal before the Ld. CIT(A), wherein assessee’s contentions pertaining to the addition made on account of assumption of invalid jurisdiction u/s 47 and also on merits were accepted

INCOME TAX OFFICER-1, RAIGARH vs. M/S SUMIT GLOBAL PVT. LTD, RAIGARH

In the result appeal of the revenue is partly allowed

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

43 and 46 of the Paper Book. 5. The real owners have attempted to lodge FIR against the aforesaid fraudster and also against the assessee which is evident from Page No.47 of the Pape Book where the name of assessee figures out in serial No. 6 and copy of order passed by the Additional Sessions Judge, Bilaspur dated

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

5 ACIT, CC-1, Raipur (C.G.) Vs. M/s. Chhattisgarh Steel & Power Limited 9. Per Contra, it was the claim of the Ld. Authorized Representative (for short ‘AR’) that the assessee company had not earned any exempt income during the year under consideration and investment was made out of its own funds. Carrying her contention further, it was submitted

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

gains. Under Section 2(24)(x), any sum received by the assessee from his employees as contributions to any provident fund/superannuation fund or any fund set up under the Employees’ State Insurance Act, 1948, or any other fund for the welfare of such employees constituted income. This is the reason why every assessee(s) M.M. Aqua Technologies Ltd. vs. Commissioner

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

gains. Under Section 2(24)(x), any sum received by the assessee from his employees as contributions to any provident fund/superannuation fund or any fund set up under the Employees’ State Insurance Act, 1948, or any other fund for the welfare of such employees constituted income. This is the reason why every assessee(s) M.M. Aqua Technologies Ltd. vs. Commissioner

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAIPUR, RAIPUR vs. CHHATTISGARH STATE POWER DISTRIBUTION COMPANY LTD., RAIPUR, RAIPUR

In the result ground 2 of the CO

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकरअपीलसं./Ita No.181/Rpr/2023 (Ay-2010-2011) आयकरअपीलसं./Ita No. 182/Rpr/2023 (Ay:2011-2012) आयकरअपीलसं. /Ita No. 183/Rpr/2023(Ay: 2012-2013) आयकरअपीलसं. /Ita No. 184/Rpr/2023(Ay: 2013-2014) आयकरअपीलसं./Ita No. 185/Rpr/2023(Ay: 2014-2015) आयकरअपीलसं./Ita No. 186/Rpr/2023(Ay: 2015-2016) आयकरअपीलसं./Ita No. 187/Rpr/2023(Ay: 2017-2018) आयकरअपीलसं. /Ita No. 188/Rpr/2023(Ay: 2018-2019) Deputy Commissioner Of Income Tax, V Chhattisgarh State Power Distribution Circle-1(1), Raipur S Company Limited, Aayakar Bhawan, Civil Lines, Raipur Vidhyut Seva Bhawan, Daganiya, Raipur Pan: Aadcc6047K & Cross Objection No. 10/Rpr/2023 (2011-12) Cross Objection No. 11/Rpr/2023 (2012-13) Cross Objection No. 12/Rpr/2023 (2014-15) Cross Objection No. 13/Rpr/2023 (2015-16) Cross Objection No. 14/Rpr/2023 (2018-19) Chhattisgarh State Power Distribution V Deputy Commissioner Of Income Tax, Company Limited, Circle-1(1), Raipur S Vidhyut Seva Bhawan, Aayakar Bhawan, Civil Lines, Raipur Daganiya, Raipur Pan: Aadcc6047K (अपीलाथ"/Applicant) (""यथ" / Respondent) : िनधा"रतीक"ओरसे /Assessee By : Shri Praveen Khandelwal & Praveen Goyal, Ca'S राज"वक"ओरसे /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाईक"तार"ख/ Date Of Hearing : 24.11.2023 घोषणाक"तार"ख/Date Of Pronouncement : 14.12.2023

Capital WIP is partly funded out of non- interest bearing funds and partly out of borrowed funds on which assessee is incurring interest cost at an average rate of 10% PA; the total interest cost disallowable u/ s 36(l)(iii) works out to Rs. 7214.83 Lakhs whereas the assessee has disallowed only Rs. 1913.20 Lakhs, thus, further disallowance

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAIPUR, RAIPUR vs. CHHATTISGARH STATE POWER DISTRIBUTION COMPANY LTD., RAIPUR, RAIPUR

In the result ground 2 of the CO

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकरअपीलसं./Ita No.181/Rpr/2023 (Ay-2010-2011) आयकरअपीलसं./Ita No. 182/Rpr/2023 (Ay:2011-2012) आयकरअपीलसं. /Ita No. 183/Rpr/2023(Ay: 2012-2013) आयकरअपीलसं. /Ita No. 184/Rpr/2023(Ay: 2013-2014) आयकरअपीलसं./Ita No. 185/Rpr/2023(Ay: 2014-2015) आयकरअपीलसं./Ita No. 186/Rpr/2023(Ay: 2015-2016) आयकरअपीलसं./Ita No. 187/Rpr/2023(Ay: 2017-2018) आयकरअपीलसं. /Ita No. 188/Rpr/2023(Ay: 2018-2019) Deputy Commissioner Of Income Tax, V Chhattisgarh State Power Distribution Circle-1(1), Raipur S Company Limited, Aayakar Bhawan, Civil Lines, Raipur Vidhyut Seva Bhawan, Daganiya, Raipur Pan: Aadcc6047K & Cross Objection No. 10/Rpr/2023 (2011-12) Cross Objection No. 11/Rpr/2023 (2012-13) Cross Objection No. 12/Rpr/2023 (2014-15) Cross Objection No. 13/Rpr/2023 (2015-16) Cross Objection No. 14/Rpr/2023 (2018-19) Chhattisgarh State Power Distribution V Deputy Commissioner Of Income Tax, Company Limited, Circle-1(1), Raipur S Vidhyut Seva Bhawan, Aayakar Bhawan, Civil Lines, Raipur Daganiya, Raipur Pan: Aadcc6047K (अपीलाथ"/Applicant) (""यथ" / Respondent) : िनधा"रतीक"ओरसे /Assessee By : Shri Praveen Khandelwal & Praveen Goyal, Ca'S राज"वक"ओरसे /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाईक"तार"ख/ Date Of Hearing : 24.11.2023 घोषणाक"तार"ख/Date Of Pronouncement : 14.12.2023

Capital WIP is partly funded out of non- interest bearing funds and partly out of borrowed funds on which assessee is incurring interest cost at an average rate of 10% PA; the total interest cost disallowable u/ s 36(l)(iii) works out to Rs. 7214.83 Lakhs whereas the assessee has disallowed only Rs. 1913.20 Lakhs, thus, further disallowance

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAIPUR, RAIPUR vs. CHHATTISGARH STATE POWER DISTRIBUTION COMPANY LTD., RAIPUR, RAIPUR

In the result ground 2 of the CO

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकरअपीलसं./Ita No.181/Rpr/2023 (Ay-2010-2011) आयकरअपीलसं./Ita No. 182/Rpr/2023 (Ay:2011-2012) आयकरअपीलसं. /Ita No. 183/Rpr/2023(Ay: 2012-2013) आयकरअपीलसं. /Ita No. 184/Rpr/2023(Ay: 2013-2014) आयकरअपीलसं./Ita No. 185/Rpr/2023(Ay: 2014-2015) आयकरअपीलसं./Ita No. 186/Rpr/2023(Ay: 2015-2016) आयकरअपीलसं./Ita No. 187/Rpr/2023(Ay: 2017-2018) आयकरअपीलसं. /Ita No. 188/Rpr/2023(Ay: 2018-2019) Deputy Commissioner Of Income Tax, V Chhattisgarh State Power Distribution Circle-1(1), Raipur S Company Limited, Aayakar Bhawan, Civil Lines, Raipur Vidhyut Seva Bhawan, Daganiya, Raipur Pan: Aadcc6047K & Cross Objection No. 10/Rpr/2023 (2011-12) Cross Objection No. 11/Rpr/2023 (2012-13) Cross Objection No. 12/Rpr/2023 (2014-15) Cross Objection No. 13/Rpr/2023 (2015-16) Cross Objection No. 14/Rpr/2023 (2018-19) Chhattisgarh State Power Distribution V Deputy Commissioner Of Income Tax, Company Limited, Circle-1(1), Raipur S Vidhyut Seva Bhawan, Aayakar Bhawan, Civil Lines, Raipur Daganiya, Raipur Pan: Aadcc6047K (अपीलाथ"/Applicant) (""यथ" / Respondent) : िनधा"रतीक"ओरसे /Assessee By : Shri Praveen Khandelwal & Praveen Goyal, Ca'S राज"वक"ओरसे /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाईक"तार"ख/ Date Of Hearing : 24.11.2023 घोषणाक"तार"ख/Date Of Pronouncement : 14.12.2023

Capital WIP is partly funded out of non- interest bearing funds and partly out of borrowed funds on which assessee is incurring interest cost at an average rate of 10% PA; the total interest cost disallowable u/ s 36(l)(iii) works out to Rs. 7214.83 Lakhs whereas the assessee has disallowed only Rs. 1913.20 Lakhs, thus, further disallowance

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAIPUR, RAIPUR vs. CHHATTISGARH STATE POWER DISTRIBUTION COMPANY LTD., RAIPUR, RAIPUR

In the result ground 2 of the CO

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकरअपीलसं./Ita No.181/Rpr/2023 (Ay-2010-2011) आयकरअपीलसं./Ita No. 182/Rpr/2023 (Ay:2011-2012) आयकरअपीलसं. /Ita No. 183/Rpr/2023(Ay: 2012-2013) आयकरअपीलसं. /Ita No. 184/Rpr/2023(Ay: 2013-2014) आयकरअपीलसं./Ita No. 185/Rpr/2023(Ay: 2014-2015) आयकरअपीलसं./Ita No. 186/Rpr/2023(Ay: 2015-2016) आयकरअपीलसं./Ita No. 187/Rpr/2023(Ay: 2017-2018) आयकरअपीलसं. /Ita No. 188/Rpr/2023(Ay: 2018-2019) Deputy Commissioner Of Income Tax, V Chhattisgarh State Power Distribution Circle-1(1), Raipur S Company Limited, Aayakar Bhawan, Civil Lines, Raipur Vidhyut Seva Bhawan, Daganiya, Raipur Pan: Aadcc6047K & Cross Objection No. 10/Rpr/2023 (2011-12) Cross Objection No. 11/Rpr/2023 (2012-13) Cross Objection No. 12/Rpr/2023 (2014-15) Cross Objection No. 13/Rpr/2023 (2015-16) Cross Objection No. 14/Rpr/2023 (2018-19) Chhattisgarh State Power Distribution V Deputy Commissioner Of Income Tax, Company Limited, Circle-1(1), Raipur S Vidhyut Seva Bhawan, Aayakar Bhawan, Civil Lines, Raipur Daganiya, Raipur Pan: Aadcc6047K (अपीलाथ"/Applicant) (""यथ" / Respondent) : िनधा"रतीक"ओरसे /Assessee By : Shri Praveen Khandelwal & Praveen Goyal, Ca'S राज"वक"ओरसे /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाईक"तार"ख/ Date Of Hearing : 24.11.2023 घोषणाक"तार"ख/Date Of Pronouncement : 14.12.2023

Capital WIP is partly funded out of non- interest bearing funds and partly out of borrowed funds on which assessee is incurring interest cost at an average rate of 10% PA; the total interest cost disallowable u/ s 36(l)(iii) works out to Rs. 7214.83 Lakhs whereas the assessee has disallowed only Rs. 1913.20 Lakhs, thus, further disallowance

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAIPUR, RAIPUR vs. CHHATTISGARH STATE POWER DISTRIBUTION COMPANY LTD., RAIPUR, RAIPUR

In the result ground 2 of the CO

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकरअपीलसं./Ita No.181/Rpr/2023 (Ay-2010-2011) आयकरअपीलसं./Ita No. 182/Rpr/2023 (Ay:2011-2012) आयकरअपीलसं. /Ita No. 183/Rpr/2023(Ay: 2012-2013) आयकरअपीलसं. /Ita No. 184/Rpr/2023(Ay: 2013-2014) आयकरअपीलसं./Ita No. 185/Rpr/2023(Ay: 2014-2015) आयकरअपीलसं./Ita No. 186/Rpr/2023(Ay: 2015-2016) आयकरअपीलसं./Ita No. 187/Rpr/2023(Ay: 2017-2018) आयकरअपीलसं. /Ita No. 188/Rpr/2023(Ay: 2018-2019) Deputy Commissioner Of Income Tax, V Chhattisgarh State Power Distribution Circle-1(1), Raipur S Company Limited, Aayakar Bhawan, Civil Lines, Raipur Vidhyut Seva Bhawan, Daganiya, Raipur Pan: Aadcc6047K & Cross Objection No. 10/Rpr/2023 (2011-12) Cross Objection No. 11/Rpr/2023 (2012-13) Cross Objection No. 12/Rpr/2023 (2014-15) Cross Objection No. 13/Rpr/2023 (2015-16) Cross Objection No. 14/Rpr/2023 (2018-19) Chhattisgarh State Power Distribution V Deputy Commissioner Of Income Tax, Company Limited, Circle-1(1), Raipur S Vidhyut Seva Bhawan, Aayakar Bhawan, Civil Lines, Raipur Daganiya, Raipur Pan: Aadcc6047K (अपीलाथ"/Applicant) (""यथ" / Respondent) : िनधा"रतीक"ओरसे /Assessee By : Shri Praveen Khandelwal & Praveen Goyal, Ca'S राज"वक"ओरसे /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाईक"तार"ख/ Date Of Hearing : 24.11.2023 घोषणाक"तार"ख/Date Of Pronouncement : 14.12.2023

Capital WIP is partly funded out of non- interest bearing funds and partly out of borrowed funds on which assessee is incurring interest cost at an average rate of 10% PA; the total interest cost disallowable u/ s 36(l)(iii) works out to Rs. 7214.83 Lakhs whereas the assessee has disallowed only Rs. 1913.20 Lakhs, thus, further disallowance

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAIPUR, RAIPUR vs. CHHATTISGARH STATE POWER DISTRIBUTION COMPANY LTD., RAIPUR, RAIPUR

In the result ground 2 of the CO

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकरअपीलसं./Ita No.181/Rpr/2023 (Ay-2010-2011) आयकरअपीलसं./Ita No. 182/Rpr/2023 (Ay:2011-2012) आयकरअपीलसं. /Ita No. 183/Rpr/2023(Ay: 2012-2013) आयकरअपीलसं. /Ita No. 184/Rpr/2023(Ay: 2013-2014) आयकरअपीलसं./Ita No. 185/Rpr/2023(Ay: 2014-2015) आयकरअपीलसं./Ita No. 186/Rpr/2023(Ay: 2015-2016) आयकरअपीलसं./Ita No. 187/Rpr/2023(Ay: 2017-2018) आयकरअपीलसं. /Ita No. 188/Rpr/2023(Ay: 2018-2019) Deputy Commissioner Of Income Tax, V Chhattisgarh State Power Distribution Circle-1(1), Raipur S Company Limited, Aayakar Bhawan, Civil Lines, Raipur Vidhyut Seva Bhawan, Daganiya, Raipur Pan: Aadcc6047K & Cross Objection No. 10/Rpr/2023 (2011-12) Cross Objection No. 11/Rpr/2023 (2012-13) Cross Objection No. 12/Rpr/2023 (2014-15) Cross Objection No. 13/Rpr/2023 (2015-16) Cross Objection No. 14/Rpr/2023 (2018-19) Chhattisgarh State Power Distribution V Deputy Commissioner Of Income Tax, Company Limited, Circle-1(1), Raipur S Vidhyut Seva Bhawan, Aayakar Bhawan, Civil Lines, Raipur Daganiya, Raipur Pan: Aadcc6047K (अपीलाथ"/Applicant) (""यथ" / Respondent) : िनधा"रतीक"ओरसे /Assessee By : Shri Praveen Khandelwal & Praveen Goyal, Ca'S राज"वक"ओरसे /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाईक"तार"ख/ Date Of Hearing : 24.11.2023 घोषणाक"तार"ख/Date Of Pronouncement : 14.12.2023

Capital WIP is partly funded out of non- interest bearing funds and partly out of borrowed funds on which assessee is incurring interest cost at an average rate of 10% PA; the total interest cost disallowable u/ s 36(l)(iii) works out to Rs. 7214.83 Lakhs whereas the assessee has disallowed only Rs. 1913.20 Lakhs, thus, further disallowance

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAIPUR, RAIPUR vs. CHHATTISGARH STATE POWER DISTRIBUTION COMPANY LTD., RAIPUR, RAIPUR

In the result ground 2 of the CO

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकरअपीलसं./Ita No.181/Rpr/2023 (Ay-2010-2011) आयकरअपीलसं./Ita No. 182/Rpr/2023 (Ay:2011-2012) आयकरअपीलसं. /Ita No. 183/Rpr/2023(Ay: 2012-2013) आयकरअपीलसं. /Ita No. 184/Rpr/2023(Ay: 2013-2014) आयकरअपीलसं./Ita No. 185/Rpr/2023(Ay: 2014-2015) आयकरअपीलसं./Ita No. 186/Rpr/2023(Ay: 2015-2016) आयकरअपीलसं./Ita No. 187/Rpr/2023(Ay: 2017-2018) आयकरअपीलसं. /Ita No. 188/Rpr/2023(Ay: 2018-2019) Deputy Commissioner Of Income Tax, V Chhattisgarh State Power Distribution Circle-1(1), Raipur S Company Limited, Aayakar Bhawan, Civil Lines, Raipur Vidhyut Seva Bhawan, Daganiya, Raipur Pan: Aadcc6047K & Cross Objection No. 10/Rpr/2023 (2011-12) Cross Objection No. 11/Rpr/2023 (2012-13) Cross Objection No. 12/Rpr/2023 (2014-15) Cross Objection No. 13/Rpr/2023 (2015-16) Cross Objection No. 14/Rpr/2023 (2018-19) Chhattisgarh State Power Distribution V Deputy Commissioner Of Income Tax, Company Limited, Circle-1(1), Raipur S Vidhyut Seva Bhawan, Aayakar Bhawan, Civil Lines, Raipur Daganiya, Raipur Pan: Aadcc6047K (अपीलाथ"/Applicant) (""यथ" / Respondent) : िनधा"रतीक"ओरसे /Assessee By : Shri Praveen Khandelwal & Praveen Goyal, Ca'S राज"वक"ओरसे /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाईक"तार"ख/ Date Of Hearing : 24.11.2023 घोषणाक"तार"ख/Date Of Pronouncement : 14.12.2023

Capital WIP is partly funded out of non- interest bearing funds and partly out of borrowed funds on which assessee is incurring interest cost at an average rate of 10% PA; the total interest cost disallowable u/ s 36(l)(iii) works out to Rs. 7214.83 Lakhs whereas the assessee has disallowed only Rs. 1913.20 Lakhs, thus, further disallowance

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAIPUR, RAIPUR vs. CHHATTISGARH STATE POWER DISTRIBUTION COMPANY LTD., RAIPUR, RAIPUR

In the result ground 2 of the CO

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकरअपीलसं./Ita No.181/Rpr/2023 (Ay-2010-2011) आयकरअपीलसं./Ita No. 182/Rpr/2023 (Ay:2011-2012) आयकरअपीलसं. /Ita No. 183/Rpr/2023(Ay: 2012-2013) आयकरअपीलसं. /Ita No. 184/Rpr/2023(Ay: 2013-2014) आयकरअपीलसं./Ita No. 185/Rpr/2023(Ay: 2014-2015) आयकरअपीलसं./Ita No. 186/Rpr/2023(Ay: 2015-2016) आयकरअपीलसं./Ita No. 187/Rpr/2023(Ay: 2017-2018) आयकरअपीलसं. /Ita No. 188/Rpr/2023(Ay: 2018-2019) Deputy Commissioner Of Income Tax, V Chhattisgarh State Power Distribution Circle-1(1), Raipur S Company Limited, Aayakar Bhawan, Civil Lines, Raipur Vidhyut Seva Bhawan, Daganiya, Raipur Pan: Aadcc6047K & Cross Objection No. 10/Rpr/2023 (2011-12) Cross Objection No. 11/Rpr/2023 (2012-13) Cross Objection No. 12/Rpr/2023 (2014-15) Cross Objection No. 13/Rpr/2023 (2015-16) Cross Objection No. 14/Rpr/2023 (2018-19) Chhattisgarh State Power Distribution V Deputy Commissioner Of Income Tax, Company Limited, Circle-1(1), Raipur S Vidhyut Seva Bhawan, Aayakar Bhawan, Civil Lines, Raipur Daganiya, Raipur Pan: Aadcc6047K (अपीलाथ"/Applicant) (""यथ" / Respondent) : िनधा"रतीक"ओरसे /Assessee By : Shri Praveen Khandelwal & Praveen Goyal, Ca'S राज"वक"ओरसे /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाईक"तार"ख/ Date Of Hearing : 24.11.2023 घोषणाक"तार"ख/Date Of Pronouncement : 14.12.2023

Capital WIP is partly funded out of non- interest bearing funds and partly out of borrowed funds on which assessee is incurring interest cost at an average rate of 10% PA; the total interest cost disallowable u/ s 36(l)(iii) works out to Rs. 7214.83 Lakhs whereas the assessee has disallowed only Rs. 1913.20 Lakhs, thus, further disallowance

M/S FOOD HEALTH PVT. LTD.,RAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, RAIPUR-1, RAIPUR

In the result, the assessee's appeal in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpia

capital gain on the transfer of the lands, therefore, the same had rendered his A.Y.2017-18 order as erroneous in so far as it was prejudicial to the interest of the revenue u/s.263 of the Act for the following reasons: “1. Section 10 (37) is not applicable in case of the company assessee as it applies to individual and HUF only