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

set-off of the losses arising from the transaction in derivatives from business income. 12.6 Further, the AO also disallowed

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

set off the same against the business loss which is not allowable under the Act and thereby claimed higher business loss to the extent of a capital loss incurred by the assessee in the previous year under consideration. Therefore, the claim of higher business loss to the extent of capital loss incurred by the assessee was disallowed

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.)

loss account, to the extent of disallowance u/s.36(1)(iv) of the Act as the same had ought to be added back as disallowance u/s.36(1)(iv) of the Act. As the discrepancy has been observed during the course of assessment proceedings, the assessee then offered the same for taxation. In this instance, also it clearly states that the assessee

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.)

loss account, to the extent of disallowance u/s.36(1)(iv) of the Act as the same had ought to be added back as disallowance u/s.36(1)(iv) of the Act. As the discrepancy has been observed during the course of assessment proceedings, the assessee then offered the same for taxation. In this instance, also it clearly states that the assessee

NANESH PROJECTS,RAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CPC, BANGALORE

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

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

disallowance of loss claimed, if return of the previous year for which set off of loss is claimed was furnished

M/S. JAI ENTERPRISES,RAIPUR vs. ASSISTANT DIRECTOR OF INCOME TAX, CPC, BANGALURU

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

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am (Ita No.107/Rpr/2021) (Assessment Year: 2019-20)

disallowance of loss claimed, if the return of the previous year for which set off of loss is claimed was furnished

PADMA DHURWAY, DURG,DURG vs. INCOME TAX OFFICER-1(1), BHILAI, DURG

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 272/Rpr/2023 "नधा"रण वष" / Assessment Year : 2018-19 Padma Dhurway, Near Pawan Kirana Store, Sangram Chowk, Prem Nagar, Sikola Bhata, Durg (C.G.)-491 001. Pan : Aarpd5814C .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-1(1), Bhilai (C.G.) ……""यथ" / Respondent

disallowance of loss claimed, if the return of the previous year for which set off of loss is claimed was furnished

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

disallowance of loss claimed, if the return of the previous year for which set off of loss is claimed was furnished

SATPAL SINGH SANDHU,RAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAIPUR, RAIPUR

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

Bench: Shri Ravish Soodआयकर अपील सं./ Ita No. 04/Rpr/2023 "नधा"रण वष" / Assessment Year : 2019-20 Satpal Singh Sandhu 151/2, Ward -1, Sandhu Bhavan, Guru Govind Singh Marg, Heerapur, Raipur (C.G.)-492 001 Pan : Cseps7315E .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax, Circle-1(1), Raipur (C.G.). ……""यथ" / Respondent

disallowance of loss claimed, if the return of the previous year for which set off of loss is claimed was furnished

GURMEET SINGH HORA, RAIPUR,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAIPUR, 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. 45/Rpr/2023 "नधा"रण वष" / Assessment Year : 2018-19 Gurmeet Singh Hora A-1, Sai Nagar, Raipur (C.G.) Pan : Aaoph6268D .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Centralized Processing Center (Cpc), Bengaluru ……""यथ" / Respondent

disallowance of loss claimed, if the return of the previous year for which set off of loss is claimed was furnished

BUNDELAS SECURITAS AND CONSULTANTS PVT. LTD., BILASPUR,BILASPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1), BILASPUR, BILASPUR

In the result, appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 59 & 60/Rpr/2023 "नधा"रण वष" / Assessment Years : 2018-19 Bundelas Securities & Consultants Pvt. Ltd. L-38, Yadunandan Nagar, Tifra, Bilaspur (C.G.)-495 223 Pan : Aaccb6831H .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-2(1), Bilaspur (C.G.) ……""यथ" / Respondent

disallowance of loss claimed, if the return of the previous year for which set off of loss is claimed was furnished

BUNDELAS SECURITAS AND CONSULTANTS PVT. LTD., BILASPUR,BILASPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1), BILASPUR, BILASPUR

In the result, appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 59 & 60/Rpr/2023 "नधा"रण वष" / Assessment Years : 2018-19 Bundelas Securities & Consultants Pvt. Ltd. L-38, Yadunandan Nagar, Tifra, Bilaspur (C.G.)-495 223 Pan : Aaccb6831H .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-2(1), Bilaspur (C.G.) ……""यथ" / Respondent

disallowance of loss claimed, if the return of the previous year for which set off of loss is claimed was furnished

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

loss and consumption pattern. The observation of the CIT(A) that there is no finding by the Assessing Officer that the accounts were not correct and complete or income could not be deduced from the accounts maintained by the assessee was not controverted by the Id DR. In view of above, we do not find any reason to interfere with

MESERS KANWARSHREE BUILDCON PRIVATE LIMITED,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(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.146/Rpr/2019 "नधा"रण वष" / Assessment Year : 2008-09 M/S. Kanwarshree Buildcon P. Ltd. Maa Annapurna Complex, Banjari Road, Gol Bazar Road, Raipur (C.G.)-492 001. Pan : Aacck6889N .......अपीलाथ"/Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-4(1), Raipur (C.G.) ……""यथ" / Respondent Assessee By : None Revenue By : Shri G.N Singh, Sr. Dr सुनवाई क" तार"ख / Date Of Hearing : 25.07.2022 घोषणा क" तार"ख / Date Of Pronouncement : 23.09.2022

set-off of the aforesaid business loss of Rs. (-) 16,32,927/- (supra). Accordingly, the A.O vide his order passed u/s.154 dated 24.09.2015 disallowed

PRADEEP KUMAR DHURVE,DURG vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE 1(1), BHILAI, BHILAI

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. 302/Rpr/2023 "नधा"रण वष" / Assessment Year : 2018-19 Pradeep Kumar Dhurve Near Pawan Kirana Store, Sangram Chowk, Prem Nagar, Sikola Bhata, Durg (C.G.)-491 001 Pan : Aanpd6067H

disallowance of loss claimed, if the return of the previous year for which set off of loss is claimed was furnished

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

set aside. 8. The Ld. AR on the other hand reiterated the submissions made before lower authorities and supported the order of CIT(A). 9. We have heard the rival submissions and perused the material on record.The issue in the present ground is with respect to addition of Rs.10,43,114/-. We find that CIT(A) after considering various decisions

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

set aside. 8. The Ld. AR on the other hand reiterated the submissions made before lower authorities and supported the order of CIT(A). 9. We have heard the rival submissions and perused the material on record.The issue in the present ground is with respect to addition of Rs.10,43,114/-. We find that CIT(A) after considering various decisions

DY. C.I.T.1(2), RAIPUR (CG) vs. M/S GODAWARI POWER & ISPAT LTD.,, RAIPUR (CG)

In the result, the appeal filed by the Revenue is partly allowed for

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2011-12 Dcit- 1(2), Godawari Power & Ispat Ltd., Raipur (Cg). Plot No.482/2, Industrial Growth Vs. Centre, Phase- 1, Siltara, Raipur (Cg).

set off of losses of one eligible unit from profit of another eligible unit. ii) Not agreeing with the Assessing Officer who has held that the value of power sufficient to its own unit for captive consumption has been over stated. iii) Not agreeing with the A.O. that sale proceeds of carbon credit is not income derived from business