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

disallowance u/s.14A r.w.r. 8D(2)(ii) of Rs.87,41,411/- was made by the A.O; (iii). AS is discernible from the assessment order passed by the A.O u/s.143(3) dated 18.03.2013 for A.Y.2010-11 the unabsorbed depreciation/business loss available for being carried forward

THE INCOME TAX OFFICER -3(4), RAIPUR (CG) vs. M/S M/S STOCK MANDI, RAIPUR (CG)

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.342/Rpr/2016 Co No.01/Rpr/2017 "नधा"रण वष" / Assessment Year : 2012-13 The Income Tax Officer-3(4), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Stock Mandi, 301A, 2Nd Floor Eskay Plaza, Raipur (C.G.) Pan : Adbfs1771L ……""यथ" / Respondent

carried out by the assessee a/w. copy of its account in the books of the aforementioned company and the details of the purchase/sales transaction were produced before the A.O. Although, the A.O as observed by us hereinabove had initially categorically stated in the body of the assessment order that the returned income of the assessee was being accepted

AVINASH INFRA PROJECTS PVT. LTD.,RAIPUR vs. DY. COMMSSIONER OF INCOME TAX, CIRCLE-1(1), RAIPUR

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.31/Rpr/2021 "नधा"रण वष" / Assessment Year : 2015-16 Avinash Infra Projects Pvt. Ltd. (Private Limited Company) Avinash House, Maruti Business Park, G.E Road, Raipur (C.G.)-492 001. Pan : Aabcj32884H .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax, Circle-1(1), Raipur (C.G.) ……""यथ" / Respondent

carried out derivative trading through its broker, viz. M/s Bahubali Forex Pvt. Ltd., but on examination of records it was found that the said brokers records was not found in SEBI and other recognized stock exchanges. On a perusal of the 45 Avinash Infra Projects (P) Ltd. Vs. DCIT, Circle-1(1), Raipur records to which our attention was drawn

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 2(1), RAIPUR vs. HI-TECH ABRASIVE PRIVATE LIMITED, RAIPUR

In the result, cross objection filed by the assessee is dismissed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.142/Rpr/2018 (Assessment Year: 2014-2015) Acit, Circle-2(1), Raipur Vs Hi-Tech Abrasive Pvt. Ltd. 740, Sector-B, Urla Industrial Area, Raipur Pan No. :Aaach 5950 M & Cross Objection No.14/Rpr/2018 (Arising Out Of Ita No.142/Rpr/2018) (Assessment Year: 2014-2015) Hi-Tech Abrasive Pvt. Ltd. Vs Acit, Circle-2(1), Raipur 740, Sector-B, Urla Industrial Area, Raipur Pan No. :Aaach 5950 M (अपीलाथ" /Appellant) .. (""यथ" / Respondent) िनधा"रती क" ओर से /Assessee By : Shri R. B. Doshi, Ca राज"व क" ओर से /Revenue By : Smt. Ila M. Parmar, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 14/07/2023 घोषणा क" तार"ख/Date Of Pronouncement : 19/07/2023

disallowed under the provisions of I.T. Act. Ld. AO further noted that the assessee should have set off the loss generated out of disposal of fixed asset with any gain under the same head and the unabsorbed portion should have been carried forward

ASSTT. COMMISSIONER OF INCOME TAX01(2), RAIPUR (CG) vs. M/S ISHWAR ISPAT INDUSTRIES PVT. LTD,, RAIPUR (CG)

In the result, appeal of the revenue is partly allowed for statistical

Bench: S/Shri N.S Saini & Pavan Kumar Gadaleassessment Year : 2009-2010

carried any activity outside the hooks, merely because of decline in GP rate, books of account could not be rejected. In Delhi Securities Printers v. Dy. CIT [2007] 15 SOT 353 (Delhi) it was held that rejection of books of account merely because appellant has not maintained stock .register,, without pointing out any specific defects in books of account

DY.C.I.T. 1 vs. SHRI SANDEEP SURENDRAN NAIR, BHILAI(CG)

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

Bench: Shri Anil Chaturvedi, Am & Shri Partha Sarathi Chaudhury,Jm आयकर अपीऱ सं. / Ita No.222& 318/Rpr/2014 नििाारण वषा / Assessment Year : 2010-11& 2011-12

carried the matter before the CIT(A). The CIT(A) after considering the submissions of assessee deleted the addition made by Assessing Officer by observing as under:- “25. I have gone through the assessment order and submissions of the appellant. The controversy in this ground of appeal revolves around the disallowance of service tax under the provisions of section

DY.C.I.T. 1, BHILAI(CG) vs. SHRI SANDEEP SURENDRAN NAIR, BHILAI(CG)

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

Bench: Shri Anil Chaturvedi, Am & Shri Partha Sarathi Chaudhury,Jm आयकर अपीऱ सं. / Ita No.222& 318/Rpr/2014 नििाारण वषा / Assessment Year : 2010-11& 2011-12

carried the matter before the CIT(A). The CIT(A) after considering the submissions of assessee deleted the addition made by Assessing Officer by observing as under:- “25. I have gone through the assessment order and submissions of the appellant. The controversy in this ground of appeal revolves around the disallowance of service tax under the provisions of section

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

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 2 & 3/Rpr/2023 Co Nos. 19 & 20/Rpr/2023 "नधा"रण वष" / Assessment Years : 2016-17 & 2017-18 The Deputy Commissioner Of Income Tax, Circle-1(1), Raipur (C.G.)

forward losses was scaled down to an amount of Rs. Nil. 30. Also, the A.O., after the culmination of the assessment, issued notice u/s. 274 r.w.s. 270A of the Act dated 24.12.2019, wherein the assessee company was called upon to put forth an explanation as to why penalty u/s. 270A of the Act may not be imposed

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

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 2 & 3/Rpr/2023 Co Nos. 19 & 20/Rpr/2023 "नधा"रण वष" / Assessment Years : 2016-17 & 2017-18 The Deputy Commissioner Of Income Tax, Circle-1(1), Raipur (C.G.)

forward losses was scaled down to an amount of Rs. Nil. 30. Also, the A.O., after the culmination of the assessment, issued notice u/s. 274 r.w.s. 270A of the Act dated 24.12.2019, wherein the assessee company was called upon to put forth an explanation as to why penalty u/s. 270A of the Act may not be imposed

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

disallowance of Rs.56,15,450/- on two different grounds. First, the CIT has treated loss of currency derivatives has business loss excepted claim of the assessee and secondly, the CIT has treated the loss of currency derivative as genuine loss. It was the submissions of Ld. AR that from the ground no. 03 raised by the department, it is evident

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

disallowance of Rs.56,15,450/- on two different grounds. First, the CIT has treated loss of currency derivatives has business loss excepted claim of the assessee and secondly, the CIT has treated the loss of currency derivative as genuine loss. It was the submissions of Ld. AR that from the ground no. 03 raised by the department, it is evident

8TH BATALIAN INDIA RESERVE CAF,RAJNANDGAON vs. ACIT, CPC, TDS, GHAZIABAD

Bench: Shri Ravish Sood & Shri Arun Khodpia

loss carried forward, deduction, allowance or relief has to be allowed on the basis of the information available in such return or accounts or documents accompanying it. Similarly, under clause (iii) of the proviso, to disallow

8TH BATALIAN INDIA RESERVE CAF,RAJNANDGAON vs. ACIT, CPC, TDS, GHAZIABAD

Bench: Shri Ravish Sood & Shri Arun Khodpia

loss carried forward, deduction, allowance or relief has to be allowed on the basis of the information available in such return or accounts or documents accompanying it. Similarly, under clause (iii) of the proviso, to disallow

8TH BATALIAN INDIA RESERVE CAF,RAJNANDGAON vs. ACIT, CPC, TDS, GHAZIABAD

Bench: Shri Ravish Sood & Shri Arun Khodpia

loss carried forward, deduction, allowance or relief has to be allowed on the basis of the information available in such return or accounts or documents accompanying it. Similarly, under clause (iii) of the proviso, to disallow

8TH BATALIAN INDIA RESERVE CAF,RAJNANDGAON vs. ACIT, CPC, TDS, GHAZIABAD

Bench: Shri Ravish Sood & Shri Arun Khodpia

loss carried forward, deduction, allowance or relief has to be allowed on the basis of the information available in such return or accounts or documents accompanying it. Similarly, under clause (iii) of the proviso, to disallow

8TH BATALIAN INDIA RESERVE CAF,RAJNANDGAON vs. ACIT, CPC, TDS, GHAZIABAD

Bench: Shri Ravish Sood & Shri Arun Khodpia

loss carried forward, deduction, allowance or relief has to be allowed on the basis of the information available in such return or accounts or documents accompanying it. Similarly, under clause (iii) of the proviso, to disallow

8TH BATALIAN INDIA RESERVE CAF,RAJNANDGAON vs. ACIT, CPC, TDS, GHAZIABAD

Bench: Shri Ravish Sood & Shri Arun Khodpia

loss carried forward, deduction, allowance or relief has to be allowed on the basis of the information available in such return or accounts or documents accompanying it. Similarly, under clause (iii) of the proviso, to disallow

8TH BATALIAN INDIA RESERVE CAF,RAJNANDGAON vs. ACIT, CPC, TDS, GHAZIABAD

Bench: Shri Ravish Sood & Shri Arun Khodpia

loss carried forward, deduction, allowance or relief has to be allowed on the basis of the information available in such return or accounts or documents accompanying it. Similarly, under clause (iii) of the proviso, to disallow

8TH BATALIAN INDIA RESERVE CAF,RAJNANDGAON vs. ACIT, CPC, TDS, GHAZIABAD

Bench: Shri Ravish Sood & Shri Arun Khodpia

loss carried forward, deduction, allowance or relief has to be allowed on the basis of the information available in such return or accounts or documents accompanying it. Similarly, under clause (iii) of the proviso, to disallow