SHRI GOPAL PRASAD AGRAWAL,RAIPUR vs. INCOME TAX OFFICER, WARD 2(2), RAIPUR, RAIPUR

In the result, appeal of the assessee is partly allowed

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

disallowance under section 14A should not be invoked when no exempt income was earned during the year and moreover the disallowance

HIRA INFRA-TEK LTD., RAIPUR,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAIPUR, RAIPUR

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita No.77/Rpr/2023 िनधा"रण वष" /Assessment Year: 2012-13 V. Hira Infra-Tek Limited Acit Hira Arcade Near New Bus Stand, Circle – 1(1) Pandri, Raipur Raipur

disallowance could not exceed exempt income, therefore the disallowance should be restricted to that extent. On these contentions, reliance was placed

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

exempt dividend income yielding unquoted shares of various companies was made out of its own funds and not from interest bearing funds, thus disallowed

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

exempt dividend income yielding unquoted shares of various companies was made out of its own funds and not from interest bearing funds, thus disallowed

THE SHRI BAJRANG ALLOYS LTD.,RAIPUR (CG) vs. THE DY. COMMISSIONER OF INCOME TAX 1(2), RAIPUR (CG)

The appeal of the assessee is allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita No. 174/Rpr/2016 "नधा"रण वष" / Assessment Year : 2012-13 Shri Bajrang Alloys Limited 521/Cit(A), Industrial Area, Urla, Raipur (C.G) Pan : Aaecs9218D .......अपीलाथ" / Appellant बनाम / V/S.

exempt income may not be disallowed u/s.14A of the Act. In reply, the assessee tried to impress upon the A.O that

CHHATTISGARH GRAMIN BANK, RAIPUR,RAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAIPUR, RAIPUR

In the result, the 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. 170/Rpr/2023 "नधा"रण वष" / Assessment Year : 2012-13 Chhattisgarh Gramin Bank C/O. Chhattisgarh Rajya Gramin Bank, Corporate Office, Sector-24, Plot No.47, Atal Nagar, Naya Raipur Raipur (C.G.)-492 018 Pan : Aaajc0574H .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax, Circle-1(1), Raipur ……""यथ" / Respondent

exempt income may not be disallowed u/s.14A r.w.r 8D of the Income Tax Rules, 1962, the assessee failed to come

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

disallowed is expenditure incurred in relation to income not includible in total income. Where there is no exempt income the disallowance

INCOME TAX OFFICER, WARD-1(2), BHILAI vs. MESERS METEX ENGINEERS, BHILAI

In the result Ground No 8 of the revenue is dismissed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.238/Rpr/2019 (Assessment Year: 2015-2016) M/S Metex Engineers, Vs Ito, Ward-1(2), Bhilai Shop No.10-11, Ganesh Complex, Shakti Vihar, Risali Bhilai, Durg Pan No. :Aawfm 8852 G & आयकर अपील सं./Ita No.247/Rpr/2019 (Assessment Year: 2015-2016) Ito, Ward-1(2), Bhilai Vs M/S Metex Engineers, Shop No.10-11, Ganesh Complex, Shakti Vihar, Risali Bhilai, Durg Pan No. :Aawfm 8852 G (अपीलाथ" /Appellant) (""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 : 24/04/2023 घोषणा क" तार"ख/Date Of Pronouncement : 14/06/2023 आदेश / O R D E R Per Arun Khodpia, Am :

exempt income and sufficient own funds, hence, the disallowance u/s 14A is not sustainable. Reliance is placed on the following

MESERS METEX ENGINEERS,BHILAI vs. INCOME TAX OFFICER, WARD-1(2), BHILAI

In the result Ground No 8 of the revenue is dismissed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.238/Rpr/2019 (Assessment Year: 2015-2016) M/S Metex Engineers, Vs Ito, Ward-1(2), Bhilai Shop No.10-11, Ganesh Complex, Shakti Vihar, Risali Bhilai, Durg Pan No. :Aawfm 8852 G & आयकर अपील सं./Ita No.247/Rpr/2019 (Assessment Year: 2015-2016) Ito, Ward-1(2), Bhilai Vs M/S Metex Engineers, Shop No.10-11, Ganesh Complex, Shakti Vihar, Risali Bhilai, Durg Pan No. :Aawfm 8852 G (अपीलाथ" /Appellant) (""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 : 24/04/2023 घोषणा क" तार"ख/Date Of Pronouncement : 14/06/2023 आदेश / O R D E R Per Arun Khodpia, Am :

exempt income and sufficient own funds, hence, the disallowance u/s 14A is not sustainable. Reliance is placed on the following

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -1(1), RAIPUR vs. M/S R.N. NAVNIRMAN PRIVATE LIMITED, RAIPUR

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.143/Rpr/2018 "नधा"रण वष" / Assessment Year : 2014-15 The Assistant Commissioner Of Income Tax-1(1), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. R.N. Navnirman Pvt. Ltd. Vandana Building, Raipur (C.G.) Pan : Aadcr0896D ……""यथ" / Respondent Assessee By :Shri R.B Doshi, Ca Revenue By :Shri Sanjay Kumar, Sr. Dr

exempt income yielding investments but had not offered any disallowance u/s.14A of the Act, thus, worked out the disallowance qua the administrative

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

disallowed is expenditure incurred in relation to income not includible in total income. Where there is no exempt income the disallowance

M/S AVINASH DEVELOPERS PVT. LTD.,RAIPUR vs. DEPUTY/ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1), RAIPUR

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

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.156/Rpr/2022 (निर्धारण वर्ष / / Assessment Year: 2013-14) M/S. Avinash Developers Pvt. Vs The Deputy/Assistant Ltd. Commissioner Of Income Tax, Avinash House, Maruti Circle-2(1), Raipur (C.G.) Business Park, G.E. Road, Raipur (C.G.)-492 001 Pan No. : Aadca4060E

exempt income claimed by the assessee to the extent of share in partnership firm, the disallowance made by the A.O should

INCOME TAX OFFICER-3(1), RAIPUR, RAIPUR vs. CHHATTISGARH STATE AGRICULTURAL MARKETING BOARD, RAIPUR

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं. / Ita No: 518/Rpr/2024 (िनधा"रण वष" Assessment Year: 201415)

exemption of Rs.2,12,61,318/- claimed u/s 10(26AAB) of the Act which was disallowed by the CPC, Bangalore

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 1(1), RAIPUR vs. MESERS VANDANA ISPAT LIMITED, RAIPUR

In the result, the appeal of revenue is dismissed

disallowable expenditure and Rule 8D cannot go beyond what is provided in Sec.14A. Since no exempt income was earned, disallowance

VANDANA ISPAT PVT. LTD.,RAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, RAIPUR-1, RAIPUR

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.71/Rpr/2022 "नधा"रण वष" / Assessment Year : 2017-18 Vandana Ispat Private Limited Vandana Building, M.G. Road, Raipur (C.G.)-492 001 Pan : Aabcv1344A .......अपीलाथ" / Appellant बनाम / V/S. The Pr. Commissioner Of Income Tax, Raipur-1 ……""यथ" / Respondent

exempt income yielding investments, observed that the A.O while framing the assessment had failed to examine the issue of disallowance

VANDANA ROLLING MILLS LTD,,RAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, RAIPUR-1, RAIPUR

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.72/Rpr/2022 "नधा"रण वष" / Assessment Year : 2017-18 Vandana Rolling Mills Ltd. Vandana Building, M.G. Road, Raipur (C.G.)-492 001 Pan : Aaacv7614A .......अपीलाथ" / Appellant बनाम / V/S.

exempt income yielding investments, observed that the A.O while framing the assessment had failed to examine the issue of disallowance

SHRI SHRI SUSHIL KUMAR AGRAWAL, KORBA,KORBA(CG) vs. THE JOINT COMMISSIONER OF INCOME TAX,RANGE KORBA, KORBA(CG)

In the result, appeal of the assesee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 93 & 94/Rpr/2017 "नधा"रण वष" / Assessment Years: 2010-11 & 2011-12 Shri Sushil Kumar Agrawal, Prop. Of M/S. Shrikishan & Co., T.P Nagar, Korba (C.G.) Pan : Acgpa4350B .......अपीलाथ"/Appellant बनाम / V/S. The Joint Commissioner Of Income Tax, Korba (C.G.) ……""यथ" / Respondent

exempt dividend income, but he had not disallowed on a suo motto basis any part of the interest expenditure for earning

SHRI SHRI SUSHIL KUMAR AGRAWAL, KORBA,KORBA(CG) vs. THE JOINT COMMISSIONER OF INCOME TAX,RANGE KORBA, KORBA(CG)

In the result, appeal of the assesee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 93 & 94/Rpr/2017 "नधा"रण वष" / Assessment Years: 2010-11 & 2011-12 Shri Sushil Kumar Agrawal, Prop. Of M/S. Shrikishan & Co., T.P Nagar, Korba (C.G.) Pan : Acgpa4350B .......अपीलाथ"/Appellant बनाम / V/S. The Joint Commissioner Of Income Tax, Korba (C.G.) ……""यथ" / Respondent

exempt dividend income, but he had not disallowed on a suo motto basis any part of the interest expenditure for earning