NISHANT JAIN,BILASPUR vs. ACIT CIRCLE 1(1), BILASPUR

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 510, 511 & 512/Rpr/2024 "नधा"रण वष" / Assessment Years : 2014-15, 2017-18 & 2018-19 Nishant Jain Ring Road No.2, Shanti Nagar, Near Sidhasikhar Vistar, Bilaspur (C.G.)-495 001 Pan: Agepj9793M .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-1(1), Bilaspur (C.G.) ……""यथ" / Respondent

133A, I offer net profit @8% of turnover, after depreciation, interest etc. The working of additional income disclosed during survey is given as under: F.Y.2016-17 F.Y.2017-18 Turn over 20,08,287,57/- 34,00,00,000/- (estimated) Profit shown 1,04,43,575/- 1,02,00,000/- (estimated) 20 Nishant Jain Vs. ACIT, Circle-1(1), Bilaspur

ASSISTANT COMMISSIONER OF INCOME TAX (CENTRAL), BILASPUR vs. M/S JAGANNATHDAS HARICHANDMAL JEWELLERS PVT. LTD, RAIGARH

In the result appeal of revenue is partly allowed in terms of our observations herein above

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.106/Rpr/2022 िनधा"रण वष" /Assessment Year: 2012-13 The Assistant Commissioner Of Vs M/S. Jagannathdas Harichandmal Income Tax (Central), Bilaspur Jewellers Pvt. Ltd. Sadar Bazar, Raigarh (C.G.) Pan: Aaccj2840G (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" ओर से /Assessee By : Shri Sunil Kumar Agrawal, Ca राज"व क" ओर से /Revenue By : Shri Choudhary N.C. Roy, Sr. Dr सुनवाई क" तार"ख / Date Of Hearing : 14/07/2023 घोषणा क" तार"ख/Date Of Pronouncement : 22/09/2023 आदेश / O R D E R Per Arun Khodpia, Am : The Captioned Appeal Is Filed By The Revenue Against The Order Passed By The Ld. Commissioner Of Income Tax (Appeals)-3, Bhopal, Dated 16.03.2022 Which In Turn Arises From The Order By Ld. Assessing Officer U/S 143(3) R.W.S. 147 Dated 30.12.2018 For A.Y.2012-13. The Grounds Of The Appeal Raised By The Revenue Are As Under: “ 1. Whether On The Fact & In The Circumstances Of The Case In Law, While Holding Assessment Passed U/S 147 R.W.S. 143(3) Of Act As Invalid & Void-Ab-Initio, The Ld. Cit(A) Completely Ignored The Fact That During The Course Of Survey, The Assessee Failed To Discharge Its Burden In Establishing 'The Identity, Creditworthiness & Genuineness Of The Transactions As Required U/S 68 Of The Income Tac Act. Ld. Cit(A) Erred In Ignoring That Reassessment Proceeding Are Based On Fresh Facts/Information Rather Than Change Of Opinion. 2. Whether On The Fact & In The Circumstances Of The Case In Law, The Ld.Cit(A) Erred In Ignoring That Confirmation Of Concealment Of Income/Disclosure Made In Statement Recorded During Survey U/S 133A Of Act Is An Information, Though Not Conclusive, Which May Be Used In Regular Assessment Or Reassessment Proceedings.

depreciation from the net profit to arrive at the book profits under Section 115JB of the Act. It was also explained that under subsection 6 of Section 211 of the Companies Act, reference to a balance sheet or profit and loss account would also include any notes thereto or documents annexed thereto. Thus the notes to the account should

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)

Section 44AB. , 1.3 The assessee was visited with Survey operation u/s 133A on 08.03.2016relevant to the A.Y 2016-17. 1.4 Chronology of events; S. Date Events Remarks I No. 1. 24.09.2012 Return of Income filed u/s 139(1) along All these events took with Audited Balance Sheet and Tax place much before Audit Report

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.

133A in FY 14-15 relevant to AY 15-16 and stock difference was found. During survey stock difference of Rs 3,04,15,5081- was surrendered as additional income in the form of undisclosed profit. Since assessee could not produce all vouchers and muster roll books were rejected. It is well known fact that suppression of income is prevalent

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.)

133A of the Act on 15.03.2016, revealed that the purchases of Rs.14,41,32,250/- made by the assessee in his proprietary concern, viz. M/s. Keshwarni Rice Mills (supra) were actually bogus purchases i.e. goods which though were projected to have been purchased from the aforementioned 6 parties were actually procured from the open/grey market. Apart from that, the case

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.)

133A of the Act on 15.03.2016, revealed that the purchases of Rs.14,41,32,250/- made by the assessee in his proprietary concern, viz. M/s. Keshwarni Rice Mills (supra) were actually bogus purchases i.e. goods which though were projected to have been purchased from the aforementioned 6 parties were actually procured from the open/grey market. Apart from that, the case

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.)

133A of the Act on 15.03.2016, revealed that the purchases of Rs.14,41,32,250/- made by the assessee in his proprietary concern, viz. M/s. Keshwarni Rice Mills (supra) were actually bogus purchases i.e. goods which though were projected to have been purchased from the aforementioned 6 parties were actually procured from the open/grey market. Apart from that, the case

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.)

133A of the Act on 15.03.2016, revealed that the purchases of Rs.14,41,32,250/- made by the assessee in his proprietary concern, viz. M/s. Keshwarni Rice Mills (supra) were actually bogus purchases i.e. goods which though were projected to have been purchased from the aforementioned 6 parties were actually procured from the open/grey market. Apart from that, the case

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.)

133A of the Act on 15.03.2016, revealed that the purchases of Rs.14,41,32,250/- made by the assessee in his proprietary concern, viz. M/s. Keshwarni Rice Mills (supra) were actually bogus purchases i.e. goods which though were projected to have been purchased from the aforementioned 6 parties were actually procured from the open/grey market. Apart from that, the case

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.)

133A of the Act on 15.03.2016, revealed that the purchases of Rs.14,41,32,250/- made by the assessee in his proprietary concern, viz. M/s. Keshwarni Rice Mills (supra) were actually bogus purchases i.e. goods which though were projected to have been purchased from the aforementioned 6 parties were actually procured from the open/grey market. Apart from that, the case

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

133A of the Act was conducted on the assessee firm on 31.01.2005. During the course of survey proceedings, the stock found at the business premises of the assessee firm (including stock of Rs.40,700/- lying in the business premises of its sister concern i.e. M/s. Jalaram Trading Company) was inventorised at a value of Rs.20,31,767/-. However