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

BHUNESHWAR PRASAD SAHU, BALODA BAZAR,RAIPUR vs. INCOME TAX OFFICER, WARD- BHATAPARA, BHATAPARA

In the result, the assessee's appeal is allowed in terms of our observations above

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.109/Rpr/2023 "नधा"रण वष" / Assessment Year : 2019-20 Bhuneshwar Prasad Sahu Main Road, Raseda, Baloda Bazar, Raipur (C.G.) Pan : Bayps7721N .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Khapradih, Bhatapara ……""यथ" / Respondent

sections 2(c) and 43B of Income-tax Act, 1961 Circulars and Notifications: Circular No. 495, dated 22-9-1987 Thus, the earlier controversy on the issue of due date of deposit of employees' contribution of PF and ESI and its allowability u/s 43B of the Act and contrary decisions of various courts and Tribunal for and against the assessee/Revenue

FIVE STARCONSTRUCTION COMPANY,BHILAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 1(1), BHILAI

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.45/Rpr/2018 "नधा"रण वष" / Assessment Year : 2014-15 Five Star Construction Company Plot No.96-97, Light Industrial Area, Chawani Chowk, Bhilai (C.G)-490026 Pan : Aaaff4316L .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax-1(1), Bhilai (C.G.) ……""यथ" / Respondent

2. Disallowance under Sec.40A(3) of the Act out of the 1,04,52,789/- expenditure of Rs.6,33,28,060/- (supra). 3. Disallowance under Sec.40A(3) of the payments 1,66,86,151/- which as per the manual cash book were made by the assessee to a person on a single day in cash exceeding Rs.20,000/- . 4. Disallowance

ISHA METAL STORES, RAIPUR,RAIPUR vs. ACIT, CENTRAL CIRCLE-2, RAIPUR, RAIPUR

In the result, appeal of the assessee in ITA

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita No.756/Rpr/2025 "नधा"रण वष" /Assessment Year : 2019-20

2), the Assessing Officer may make an assessment in the manner provided in Section 144." 4(c) Therefore, it is sine qua non that the AO to come to a conclusion that the Books of Accounts maintained by the Assessee are incorrect, incomplete or unreliable and reject the Books of Accounts before the proceeding to make his own assessment

STEP LOGISTICS PRIVATE LIMITED,RAIPUR vs. DY. COMMISSIONER OF INCOME TAX, CIRCLE 1(1), RAIPUR, RAIPUR

In the result, appeal of the assessee in ITA

Bench: Shri Partha Sarathi Chaudhury & Shri Avdhesh Kumar Mishraआयकर अपील सं. / Ita No.636/Rpr/2025 "नधा"रण वष" / Assessment Year : 2017-18 Step Logistics Private Limited A-1, Mahavir Gaushala Complex, K.K Road, Raipur (C.G.)-492 001 Pan: Aancs0382F

2 & 7 pertains to the ad-hoc disallowance which has been addressed by the Ld. CIT(Appeals)/NFAC vide para 6.5 observing as follows: “6.5 Regarding the disallowance out of H & T Expenses amounting to Rs.34,53,126/- and other expenses (diesel, vehicle, office and godown expenses) a 6. ting to Rs.4,28,540/- it is evident that the above

SANTOSH KUMAR NISHAD, RAIPUR,RAIPUR vs. INCOME TAX OFFICER, WARD-1(1), RAIPUR, RAIPUR

The appeals of the assessee are dismissed in terms of my aforesaid observations

Bench: Shri Ravish Soodआयकर अपील सं./ Ita Nos. 107 & 108/Rpr/2023 "नधा"रण वष" / Assessment Years : 2018-19 & 2019-2020 Santosh Kumar Nishad Mandhar, Mohadi, Tehsil : Dharsiwa, Raipur-493 111 (C.G.) Pan : Agfpn5475R .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-1(1), Raipur (C.G.). ……""यथ" / Respondent

145 taxmann.com 209 (Pune — Trib) and the Hon'ble ITAT, Kolkata in the case of Premier Irrigation Adritec (P) Ltd Vs ACIT, Circle 11(1) (2023) 146 taxmann.com 389 (Kolkata- Trib.) Date of order 20-1-2023 have confirmed the disallowance of employees' contribution of PF and ESI u/s 36(1)(v) read with Section 2

SANTOSH KUMAR NISHAD, RAIPUR,RAIPUR vs. INCOME TAX OFFICER, WARD-1(1), RAIPUR, RAIPUR

The appeals of the assessee are dismissed in terms of my aforesaid observations

Bench: Shri Ravish Soodआयकर अपील सं./ Ita Nos. 107 & 108/Rpr/2023 "नधा"रण वष" / Assessment Years : 2018-19 & 2019-2020 Santosh Kumar Nishad Mandhar, Mohadi, Tehsil : Dharsiwa, Raipur-493 111 (C.G.) Pan : Agfpn5475R .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-1(1), Raipur (C.G.). ……""यथ" / Respondent

145 taxmann.com 209 (Pune — Trib) and the Hon'ble ITAT, Kolkata in the case of Premier Irrigation Adritec (P) Ltd Vs ACIT, Circle 11(1) (2023) 146 taxmann.com 389 (Kolkata- Trib.) Date of order 20-1-2023 have confirmed the disallowance of employees' contribution of PF and ESI u/s 36(1)(v) read with Section 2

HITESH GOLCHHA,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, RAIPUR, RAIPUR

Appeals of the assessee are partly allowed, in terms of our observations herein above

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita Nos.101, 102, 103 & 104/Rpr/2022 (िनधा"रण वष" /Assessment Years: 2014-15, 2015-16, 2016-17 & 2017-18) V. Hitesh Golchha Acit, Prop. Of Mouli Investment, Central Circle-1 Jeevan Ganga, Near Dani Bada, Raipur Budha Para, Raipur – 492 001 Chhattisgarh [Pan: Agjpg 7698 F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri B. Subramanyam, C.A. ""यथ" क" ओर से /Respondent By : Shri S. K. Meena, Cit-D.R. सुनवाई क" तार"ख/Date Of Hearing : 13.09.2023 घोषणा क" तार"ख /Date Of Pronouncement : 02.11.2023

145 of paper book) Wherein it was held by the Hon'ble Apex Court that "what is contemplated by Section 263 is an opportunity of hearing to be afforded to the Assessee. Failure to give such an opportunity would render the revisional order legally fragile not on the ground of lack of jurisdiction but on the ground of violation

HITESH GOLCHHA,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, RAIPUR, RAIPUR

Appeals of the assessee are partly allowed, in terms of our observations herein above

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita Nos.101, 102, 103 & 104/Rpr/2022 (िनधा"रण वष" /Assessment Years: 2014-15, 2015-16, 2016-17 & 2017-18) V. Hitesh Golchha Acit, Prop. Of Mouli Investment, Central Circle-1 Jeevan Ganga, Near Dani Bada, Raipur Budha Para, Raipur – 492 001 Chhattisgarh [Pan: Agjpg 7698 F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri B. Subramanyam, C.A. ""यथ" क" ओर से /Respondent By : Shri S. K. Meena, Cit-D.R. सुनवाई क" तार"ख/Date Of Hearing : 13.09.2023 घोषणा क" तार"ख /Date Of Pronouncement : 02.11.2023

145 of paper book) Wherein it was held by the Hon'ble Apex Court that "what is contemplated by Section 263 is an opportunity of hearing to be afforded to the Assessee. Failure to give such an opportunity would render the revisional order legally fragile not on the ground of lack of jurisdiction but on the ground of violation

HITESH GOLCHHA,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, RAIPUR, RAIPUR

Appeals of the assessee are partly allowed, in terms of our observations herein above

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita Nos.101, 102, 103 & 104/Rpr/2022 (िनधा"रण वष" /Assessment Years: 2014-15, 2015-16, 2016-17 & 2017-18) V. Hitesh Golchha Acit, Prop. Of Mouli Investment, Central Circle-1 Jeevan Ganga, Near Dani Bada, Raipur Budha Para, Raipur – 492 001 Chhattisgarh [Pan: Agjpg 7698 F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri B. Subramanyam, C.A. ""यथ" क" ओर से /Respondent By : Shri S. K. Meena, Cit-D.R. सुनवाई क" तार"ख/Date Of Hearing : 13.09.2023 घोषणा क" तार"ख /Date Of Pronouncement : 02.11.2023

145 of paper book) Wherein it was held by the Hon'ble Apex Court that "what is contemplated by Section 263 is an opportunity of hearing to be afforded to the Assessee. Failure to give such an opportunity would render the revisional order legally fragile not on the ground of lack of jurisdiction but on the ground of violation

HITESH GOLCHHA,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, RAIPUR, RAIPUR

Appeals of the assessee are partly allowed, in terms of our observations herein above

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita Nos.101, 102, 103 & 104/Rpr/2022 (िनधा"रण वष" /Assessment Years: 2014-15, 2015-16, 2016-17 & 2017-18) V. Hitesh Golchha Acit, Prop. Of Mouli Investment, Central Circle-1 Jeevan Ganga, Near Dani Bada, Raipur Budha Para, Raipur – 492 001 Chhattisgarh [Pan: Agjpg 7698 F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri B. Subramanyam, C.A. ""यथ" क" ओर से /Respondent By : Shri S. K. Meena, Cit-D.R. सुनवाई क" तार"ख/Date Of Hearing : 13.09.2023 घोषणा क" तार"ख /Date Of Pronouncement : 02.11.2023

145 of paper book) Wherein it was held by the Hon'ble Apex Court that "what is contemplated by Section 263 is an opportunity of hearing to be afforded to the Assessee. Failure to give such an opportunity would render the revisional order legally fragile not on the ground of lack of jurisdiction but on the ground of violation

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

145 requires some of the Accounting Standards to be mandatorily followed by the assessee, it does not preclude assessee from following other Accounting Standards. Further in that case, AO had disallowed provision for foreseeable loss created in accordance with Accounting Standard 7. The loss claimed by that assessee had not arisen in the year under dispute but was claimed

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -I, RAIPUR vs. LORD BUDDHA EDUCATIONAL SOCIETY, RAIPUR

In the result, the appeals of the revenue ITA Nos

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita Nos.188 To 193/Rpr/2019 (ननधाारण वषा / Assessment Year :2012-2013 To 2017-2018) Acit, Central Circle-1, Raipur(Cg) Vs M/S Lord Buddha Educational Society, M/S Raipur Institute Of Medical Sciences (Rims), Gram Godhi, Bhansoj Road, Office Nh-6, Raipur (Cg) Pan No. :Aaaal 3913 E (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

disallowed amounts in the search proceedings. Further, it is again reiterated that as per the provisions of section 153C, additions can be made only when there is any undisclosed income/unexplained cash or unexplained investment found on the basis of incriminating documents found during course of search " 4.1.5 Respectfully following the binding precedent on this issue, in absence of any incriminating

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -I, RAIPUR vs. LORD BUDDHA EDUCATIONAL SOCIETY, RAIPUR

In the result, the appeals of the revenue ITA Nos

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita Nos.188 To 193/Rpr/2019 (ननधाारण वषा / Assessment Year :2012-2013 To 2017-2018) Acit, Central Circle-1, Raipur(Cg) Vs M/S Lord Buddha Educational Society, M/S Raipur Institute Of Medical Sciences (Rims), Gram Godhi, Bhansoj Road, Office Nh-6, Raipur (Cg) Pan No. :Aaaal 3913 E (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

disallowed amounts in the search proceedings. Further, it is again reiterated that as per the provisions of section 153C, additions can be made only when there is any undisclosed income/unexplained cash or unexplained investment found on the basis of incriminating documents found during course of search " 4.1.5 Respectfully following the binding precedent on this issue, in absence of any incriminating

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -I, RAIPUR vs. LORD BUDDHA EDUCATIONAL SOCIETY, RAIPUR

In the result, the appeals of the revenue ITA Nos

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita Nos.188 To 193/Rpr/2019 (ननधाारण वषा / Assessment Year :2012-2013 To 2017-2018) Acit, Central Circle-1, Raipur(Cg) Vs M/S Lord Buddha Educational Society, M/S Raipur Institute Of Medical Sciences (Rims), Gram Godhi, Bhansoj Road, Office Nh-6, Raipur (Cg) Pan No. :Aaaal 3913 E (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

disallowed amounts in the search proceedings. Further, it is again reiterated that as per the provisions of section 153C, additions can be made only when there is any undisclosed income/unexplained cash or unexplained investment found on the basis of incriminating documents found during course of search " 4.1.5 Respectfully following the binding precedent on this issue, in absence of any incriminating

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -I, RAIPUR vs. LORD BUDDHA EDUCATIONAL SOCIETY, RAIPUR

In the result, the appeals of the revenue ITA Nos

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita Nos.188 To 193/Rpr/2019 (ननधाारण वषा / Assessment Year :2012-2013 To 2017-2018) Acit, Central Circle-1, Raipur(Cg) Vs M/S Lord Buddha Educational Society, M/S Raipur Institute Of Medical Sciences (Rims), Gram Godhi, Bhansoj Road, Office Nh-6, Raipur (Cg) Pan No. :Aaaal 3913 E (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

disallowed amounts in the search proceedings. Further, it is again reiterated that as per the provisions of section 153C, additions can be made only when there is any undisclosed income/unexplained cash or unexplained investment found on the basis of incriminating documents found during course of search " 4.1.5 Respectfully following the binding precedent on this issue, in absence of any incriminating

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -I, RAIPUR vs. LORD BUDDHA EDUCATIONAL SOCIETY, RAIPUR

In the result, the appeals of the revenue ITA Nos

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita Nos.188 To 193/Rpr/2019 (ननधाारण वषा / Assessment Year :2012-2013 To 2017-2018) Acit, Central Circle-1, Raipur(Cg) Vs M/S Lord Buddha Educational Society, M/S Raipur Institute Of Medical Sciences (Rims), Gram Godhi, Bhansoj Road, Office Nh-6, Raipur (Cg) Pan No. :Aaaal 3913 E (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

disallowed amounts in the search proceedings. Further, it is again reiterated that as per the provisions of section 153C, additions can be made only when there is any undisclosed income/unexplained cash or unexplained investment found on the basis of incriminating documents found during course of search " 4.1.5 Respectfully following the binding precedent on this issue, in absence of any incriminating

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -I, RAIPUR vs. LORD BUDDHA EDUCATIONAL SOCIETY, RAIPUR

In the result, the appeals of the revenue ITA Nos

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita Nos.188 To 193/Rpr/2019 (ननधाारण वषा / Assessment Year :2012-2013 To 2017-2018) Acit, Central Circle-1, Raipur(Cg) Vs M/S Lord Buddha Educational Society, M/S Raipur Institute Of Medical Sciences (Rims), Gram Godhi, Bhansoj Road, Office Nh-6, Raipur (Cg) Pan No. :Aaaal 3913 E (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

disallowed amounts in the search proceedings. Further, it is again reiterated that as per the provisions of section 153C, additions can be made only when there is any undisclosed income/unexplained cash or unexplained investment found on the basis of incriminating documents found during course of search " 4.1.5 Respectfully following the binding precedent on this issue, in absence of any incriminating

ANIL KUMAR JAIN,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL

In the result, appeal of the assessee in ITA No

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita Nos.584 & 585/Rpr/2025 "नधा"रण वष" /Assessment Years : 2018-19 & 2019-20 Anil Kumar Jain 34, Maruti Life Style, Ravi Shankar University, S.O, Raipur-492 010 Pan: Ahypj7657H .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax (Central), Bilaspur (C.G.)

2. Parties herein submitted that the facts and issue arising in both these appeals are absolutely common and similar and after recording their submissions both these appeals are heard together and disposed of vide this consolidated order. 3. The legal contention raised by the Ld. Counsel for the assessee pertaining to both these appeals is that an estimated addition