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

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 (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

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

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-(1), RAIPUR, RAIPUR vs. SHRI BAJRANG POWER AND ISPAT LTD., RAIPUR

The appeal of the revenue is dismissed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 201/Rpr/2022 "नधा"रण वष" / Assessment Years : 2012-13 The Assistant Commissioner Of Income Tax, Circle-1(1), Raipur. .......अपीलाथ" / Appellant बनाम / V/S. Shri Bajrang Power & Ispat Limited, 00, Vill. Borjhara, Urla Guma Road, Raipur-493221. Pan : Aaccb2944D ……""यथ" / Respondent

disallowance u/s.14A r.w.r 8D at Rs.35,18,577/-. Although the assessee company had earned exempt income of Rs.1678/- only from

SUBRAMANIAM SWAMINATHAN IYER, BHILAI,DURG vs. DEPUTY COMMISSIONER OF INCOME TAX-1(1), BHILAI, DURG

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.71/Rpr/2023 "नधा"रण वष" / Assessment Year : 2012-13 Subramaniam Swaminathan Iyer 12-A/7, Nehru Nagar, Bhilai (C.G.)-490 020 Pan: Anwps2381P

disallowance of any expenditure incurred for earning of exempt income, thus, worked out a disallowance u/s. 14A of Rs.55,06,957/-, viz. (i) disallowance

ABIS EXPORT INDIA PVT. LTD.,RAJNANDGAON,RAJNANDGAON vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), BHILAI, DURG

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

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No. 194/Rpr/2023 िनधा"रण वष" /Assessment Year: 2018-19 Abis Export India Pvt. Ltd. Vs The Deputy Commissioner Of Income Ib, Corporate House, Indamara, Tax, Circle-1(1), Bhilai Rajnandgaon (C.G.)-491 441 Pan: Aacca2881J (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" ओर से /Assessee By : Shri Bikram Jain, Ca राज"व क" ओर से /Revenue By : Smt. Ila M. Parmar, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 22/08/2023 घोषणा क" तार"ख/Date Of Pronouncement : 17/10/2023 आदेश / O R D E R Per Arun Khodpia, Am: The Captioned Appeal Is Filed By The Assessee Against The Order Passed By The Ld. Pr. Commissioner Of Income Tax (Appeals), Nfac, Delhi U/S. 263 Of The Income Tax Act, 1961 (For Short ‘The Act’) Dated 28.03.2023 For A.Y.2018-19. The Grounds Of The Appeal Raised By The Assessee Are As Under: “1. On The Fact & In The Circumstances Of The Case, The Ld. Principal Commissioner Of Income Tax—Raipur-1 Has Erred In Holding The Assessment Order Passed By The National E-Assessment Centre (Neac) On 01.03.2021 As Erroneous & Prejudicial To The Interest Of Revenue As The Order Was Passed Without Making Any Enquiry On The Issues Of Applicability Of Section 14A Of The I. T. Act, 1961. The Assessment Order Passed By The Neac Is Neither Erroneous Nor Prejudicial To The Interest Of Revenue & Therefore The Order U/S 263 Passed By The Ld. Cit Is Unjustified, Unwarranted & Uncalled. 2. The Assessee Reserves The Right To Add, Amend Or Alter Any Grounds Of Appeal At Any Time Of Hearing.”

exempt income in the relevant year, therefore, disallowance u/s.14A could not be made; (ii) contention of the assessee that it had sufficient

SHIVALI UDYOG (I) 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.70/Rpr/2022 "नधा"रण वष" / Assessment Year : 2017-18 Shivali Udyog (I) Private Limited Plot No.324, Sector-D, Urla Industrial Area, Raipur (C.G.)-492 001 Pan : Aaacd8194P .......अपीलाथ" / Appellant बनाम / V/S. The Pr. Commissioner Of Income Tax, Raipur-1 ……""यथ" / Respondent

disallowance u/s.14A of the Act, viz. (i) details of the investments made in exempt income yielding assets; (ii) details of exempt