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

46,763/- . On this aspect, it is also observed by the Learned AO that the company’s business is already burdened with interest bearing loans and thereby reducing the profitability of the business, the assessee was asked to explain why corresponding expenditure should not be disallowed in view of the provisions of Section

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)

section 14A is not permissible [In favour of assessee] 6. On the other hand, ld. Sr. DR vehemently supported the orders of the authorities below. 7. We have considered the rival submissions and perused the relevant material available on record. Since the similar issue was dealt with by the coordinate bench of the Tribunal in the case of DCIT

HIRA POWER & STEELS LIMITED, RAIPUR,RAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX-1, RAIPUR, RAIPUR

In the result ground no 6 of the appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpiaआयकर अपील सं. / Ita No.233/Rpr/2025 "नधा"रण वष" / Assessment Year : 2012-13 Hira Power & Steels Limited 557, Urla Industrial Area, Urla Industrial Complex, Raipur (C.G.)-493 221 Pan: Aabcj0138Q ........अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax-1(1), Raipur (C.G.)

disallowance of Rs.6,46,325/- made by the A.O invoking Section 14A read with rule 8D. The disallowance made by the A.O and confirmed

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 under Section 43-B which, as stated above, was inserted with effect from 1-4-1984 *** 22. It is important to note once again that, by the Finance Act, 2003, not only is the second proviso deleted but even the first proviso is sought to be amended by bringing about a uniformity in tax, duty, cess

MESERS SWARAJ BUILDERS,KORBA vs. INCOME TAX OFFICER, WARD-2, , KORBA

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

Bench: Shri Ravish Sood & Shri Rathod Kamlesh Jayantbhaiआयकर अपील सं. / Ita No. 189/Rpr/2018 "नधा"रण वष" / Assessment Year : 2012-13 M/S. Swaraj Builders Agroha Marg, Korba (C.G.) Pan : Abdfs0662C .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Ward-2, Korba (C.G.) ……""यथ" / Respondent

46,025/-, therefore, the Assessing Officer had disallowed the said amount by triggering the provisions of section 40(a)(ia) of the Act, observing

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

46,07,555/- in exempt dividend income yielding unquoted shares of various companies was made out of its own funds and not from interest bearing funds, thus disallowed its claim for deduction of interest expenses of Rs.1,08,17,711/- u/s 14A r.w Rule 8D(2)(ii) of the Income-tax Rules, 1963. 14. On appeal, the CIT(Appeals) vacated

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

46,07,555/- in exempt dividend income yielding unquoted shares of various companies was made out of its own funds and not from interest bearing funds, thus disallowed its claim for deduction of interest expenses of Rs.1,08,17,711/- u/s 14A r.w Rule 8D(2)(ii) of the Income-tax Rules, 1963. 14. On appeal, the CIT(Appeals) vacated

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

46. Per contra the Ld. DR relied on the orders of the lower authorities. 47. We have given a thoughtful consideration to the aforesaid issue in hand, i.e., sustainability of the disallowance of the assessee’s claim for deduction of interest expenditure u/s.36(1)(iii) of the Act, and find substance in the claim of the Ld. AR. Admittedly

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

46. Per contra the Ld. DR relied on the orders of the lower authorities. 47. We have given a thoughtful consideration to the aforesaid issue in hand, i.e., sustainability of the disallowance of the assessee’s claim for deduction of interest expenditure u/s.36(1)(iii) of the Act, and find substance in the claim of the Ld. AR. Admittedly

M/S. RAJ PIPES,RAJNANDGAON vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 1(1), RAIPUR

Bench: Shri Ravish Sood

disallowed under Section 43-B which, as stated above, was inserted with effect from 1-4-1984 *** 22. It is important to note once again that, by the Finance Act, 2003, not only is the second proviso deleted but even the first proviso is sought to be amended by bringing about a uniformity in tax, duty, cess

CHHATTISGARH STATE BEVERAGES CORPORATION LTD.,RAIPUR vs. PR. CIT-1, RAIPUR

In the result, appeals of the assessee in ITA Nos

Bench: Shri Ravish Sood & Shri G D Padmahshaliआयकर अपील सं. / Ita Nos.38, 39 & 40/Rpr/2021 "नधा"रण वष" / Assessment Years : 2015-16, 2016-17 & 2017-18 Chhattisgarh State Beverages Corporation Limited Aabkari Bhavan, Chokra Nala, Labhandi, Raipur-492 001 Pan : Aaccc3163B .......अपीलाथ" / Appellant बनाम / V/S. The Pr. Commissioner Of Income Tax, Raipur-1 (C.G.) ……""यथ" / Respondent

disallowance of VAT expenses amounting to Rs.53,65,46,087/- may kindly be deleted and Revision Order may kindly be quashed/annulled.” 3. Succinctly stated, the assessee company which is wholly owned by the State Government of Chhattisgarh had e-filed its return of income for A.Y.2015-16 on 30.09.2015, declaring an income of Rs. 22,88,04,100/-. Subsequently, the assessee

CHHATTISGARH STATE BEVERAGES LTD.,RAIPUR vs. PR. COMMISSIONER OF INCOME TAX-1, RAIPUR

In the result, appeals of the assessee in ITA Nos

Bench: Shri Ravish Sood & Shri G D Padmahshaliआयकर अपील सं. / Ita Nos.38, 39 & 40/Rpr/2021 "नधा"रण वष" / Assessment Years : 2015-16, 2016-17 & 2017-18 Chhattisgarh State Beverages Corporation Limited Aabkari Bhavan, Chokra Nala, Labhandi, Raipur-492 001 Pan : Aaccc3163B .......अपीलाथ" / Appellant बनाम / V/S. The Pr. Commissioner Of Income Tax, Raipur-1 (C.G.) ……""यथ" / Respondent

disallowance of VAT expenses amounting to Rs.53,65,46,087/- may kindly be deleted and Revision Order may kindly be quashed/annulled.” 3. Succinctly stated, the assessee company which is wholly owned by the State Government of Chhattisgarh had e-filed its return of income for A.Y.2015-16 on 30.09.2015, declaring an income of Rs. 22,88,04,100/-. Subsequently, the assessee

CHHATTISGARH STATE BEVERAGES LTD.,RAIPUR vs. PR. COMMISSIONER OF INCOME TAX-1, RAIPUR

In the result, appeals of the assessee in ITA Nos

Bench: Shri Ravish Sood & Shri G D Padmahshaliआयकर अपील सं. / Ita Nos.38, 39 & 40/Rpr/2021 "नधा"रण वष" / Assessment Years : 2015-16, 2016-17 & 2017-18 Chhattisgarh State Beverages Corporation Limited Aabkari Bhavan, Chokra Nala, Labhandi, Raipur-492 001 Pan : Aaccc3163B .......अपीलाथ" / Appellant बनाम / V/S. The Pr. Commissioner Of Income Tax, Raipur-1 (C.G.) ……""यथ" / Respondent

disallowance of VAT expenses amounting to Rs.53,65,46,087/- may kindly be deleted and Revision Order may kindly be quashed/annulled.” 3. Succinctly stated, the assessee company which is wholly owned by the State Government of Chhattisgarh had e-filed its return of income for A.Y.2015-16 on 30.09.2015, declaring an income of Rs. 22,88,04,100/-. Subsequently, the assessee

M/S ASHOKA ENGINEERING WORKS,KORBA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), BILASPUR, BILASPUR

In the result, appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 53 & 54/Rpr/2022 "नधा"रण वष" / Assessment Years : 2017-18 & 2018-19 M/S. Ashoka Engineering Works, Lig-51, Sada Colony, Jamnipali, Korba (C.G.)-495 450 Pan : Aaafw5581G .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax, Circle-1(1), Bilaspur (C.G.) ……""यथ" / Respondent

disallowed under Section 43-B which, as stated above, was inserted with effect from 1-4-1984 *** 13 M/s. Ashoka Engineering Works Vs. DCIT, Circle-1(1), Bilaspur ITA Nos. 53 & 54/RPR/2022 22. It is important to note once again that, by the Finance Act, 2003, not only is the second proviso deleted but even the first proviso is sought

M/S ASHOK ENGINEERING WORKS,KORBA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), BILASPUR, BILASPUR

In the result, appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 53 & 54/Rpr/2022 "नधा"रण वष" / Assessment Years : 2017-18 & 2018-19 M/S. Ashoka Engineering Works, Lig-51, Sada Colony, Jamnipali, Korba (C.G.)-495 450 Pan : Aaafw5581G .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax, Circle-1(1), Bilaspur (C.G.) ……""यथ" / Respondent

disallowed under Section 43-B which, as stated above, was inserted with effect from 1-4-1984 *** 13 M/s. Ashoka Engineering Works Vs. DCIT, Circle-1(1), Bilaspur ITA Nos. 53 & 54/RPR/2022 22. It is important to note once again that, by the Finance Act, 2003, not only is the second proviso deleted but even the first proviso is sought

BEC PROJECTS LTD., ,BHILAI vs. DEPUTY COMMISSIONER OF INCOME TAX-1(1), BHILAI, BHILAI

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 06/Rpr/2023 "नधा"रण वष" / Assessment Year : 2014-15 Bec Projects Limited 4/5, Industrial Estate, Bhilai (C.G.)-490 020 Pan : Aaacb9275H .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax-1(1), Bhilai (C.G.) ……""यथ" / Respondent

disallowed under Section 43-B which, as stated above, was inserted with effect from 1-4-1984 *** 22. It is important to note once again that, by the Finance Act, 2003, not only is the second proviso deleted but even the first proviso is sought to be amended by bringing about a uniformity in tax, duty, cess

KINGER AGRICO PRIVATE LIMITED,RAIPUR vs. DY. COMMISSIONER OF INCOME TAX, CPC, BANGALORE

Bench: Shri Ravish Sood & Shri Arun Khodpia

disallowed under Section 43-B which, as stated above, was inserted with effect from 1-4-1984 *** 22. It is important to note once again that, by the Finance Act, 2003, not only is the second proviso deleted but even the first proviso is sought to be amended by bringing about a uniformity in tax, duty, cess

SHRI SHRI RANVEER SINGH VIDHURI,RAIPUR vs. THE DY. COMMISSIONER OF INCOME TAX,-2(1), RAIPUR (CG)

Bench: Shri Ravish Sood & Shri Arun Khodpia

disallowed under Section 43-B which, as stated above, was inserted with effect from 1-4-1984 *** 22. It is important to note once again that, by the Finance Act, 2003, not only is the second proviso deleted but even the first proviso is sought to be amended by bringing about a uniformity in tax, duty, cess

G R MINERALS AND INDUSTRIES PVT. LTD.,RAIPUR vs. DY. COMMISSIONER OF INCOME TAX, CPC, BANGALORE

Bench: Shri Ravish Sood & Shri Arun Khodpia

disallowed under Section 43-B which, as stated above, was inserted with effect from 1-4-1984 *** 22. It is important to note once again that, by the Finance Act, 2003, not only is the second proviso deleted but even the first proviso is sought to be amended by bringing about a uniformity in tax, duty, cess