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) ..

house to Valuation Officer under section 55A - on basis of report submitted by Valuation Officer Assessing Officer reopened assessment and made addition of excess amount as undisclosed income - Whether Assessing Officer could refer matter to Valuation Officer for estimating cost of construction - Held, no Section ]31, read with sec/ions 133 & 142, the Income-tax Act, ]96] - Income-tax Authorities - Powers

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) ..

house to Valuation Officer under section 55A - on basis of report submitted by Valuation Officer Assessing Officer reopened assessment and made addition of excess amount as undisclosed income - Whether Assessing Officer could refer matter to Valuation Officer for estimating cost of construction - Held, no Section ]31, read with sec/ions 133 & 142, the Income-tax Act, ]96] - Income-tax Authorities - Powers

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) ..

house to Valuation Officer under section 55A - on basis of report submitted by Valuation Officer Assessing Officer reopened assessment and made addition of excess amount as undisclosed income - Whether Assessing Officer could refer matter to Valuation Officer for estimating cost of construction - Held, no Section ]31, read with sec/ions 133 & 142, the Income-tax Act, ]96] - Income-tax Authorities - Powers

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) ..

house to Valuation Officer under section 55A - on basis of report submitted by Valuation Officer Assessing Officer reopened assessment and made addition of excess amount as undisclosed income - Whether Assessing Officer could refer matter to Valuation Officer for estimating cost of construction - Held, no Section ]31, read with sec/ions 133 & 142, the Income-tax Act, ]96] - Income-tax Authorities - Powers

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) ..

house to Valuation Officer under section 55A - on basis of report submitted by Valuation Officer Assessing Officer reopened assessment and made addition of excess amount as undisclosed income - Whether Assessing Officer could refer matter to Valuation Officer for estimating cost of construction - Held, no Section ]31, read with sec/ions 133 & 142, the Income-tax Act, ]96] - Income-tax Authorities - Powers

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) ..

house to Valuation Officer under section 55A - on basis of report submitted by Valuation Officer Assessing Officer reopened assessment and made addition of excess amount as undisclosed income - Whether Assessing Officer could refer matter to Valuation Officer for estimating cost of construction - Held, no Section ]31, read with sec/ions 133 & 142, the Income-tax Act, ]96] - Income-tax Authorities - Powers

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

properties determined their Annual Lettable Value (ALV), thus, upheld the addition of Rs.5 lac made by the A.O. 11. Apropos the addition of Rs.2 lac made by the A.O on account of low house hold withdrawals, it was observed by the CIT(Appeals) that as the assessee had failed to establish that withdrawals of an amount even less than Rs.1

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

properties determined their Annual Lettable Value (ALV), thus, upheld the addition of Rs.5 lac made by the A.O. 11. Apropos the addition of Rs.2 lac made by the A.O on account of low house hold withdrawals, it was observed by the CIT(Appeals) that as the assessee had failed to establish that withdrawals of an amount even less than Rs.1

SHREE KRISHNA COLONISERS,RAIPUR vs. PRINCIPLE COMMISSIONER OF INCOME TAX, RAIPUR-1, RAIPUR

In the result appeal of the assessee M/s Shree Krishna Colonisers in ITA

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am (Ita No. 95/Rpr/2022) (Assessment Year: 2017-18) Shree Krishna Colonisers V Principal Commissioner Of Income Tax- 0, Nemichand Gali, Ganj Para Ward S Pcit, Raipur-I No.5, Ram Sagar Para, Raipur, 492001, Chhattisgarh Pan: Abffs7335G (Ita No. 96/Rpr/2022) (Assessment Year: 2017-18) Shree Krishna Builders Principal Commissioner Of Income Tax- 5/425, Nemichand Gali, Ramsagar Para Pcit, Raipur-I Ward, Raipur, Chhattisgarh Pan: Aacft1716A (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 : 09.10.2023 घोषणा क" तार"ख/Date Of : 14.12.2023 Pronouncement आदेश / O R D E R Per Arun Khodpia, Am:

133(A) was conducted at the premises of concerns of the assessee on 27.01.2017. Later on, the case of the assessee was selected for scrutiny through CASS under the category complete scrutiny. Statutory notices were issued and served on the assessee. In response to the notices, the assessee had submitted replies which were duly considered by the Ld. AO. During

SHREE KRISHNA BUILDERS,RAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, RAIPUR-1, RAIPUR

In the result appeal of the assessee M/s Shree Krishna Colonisers in ITA

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am (Ita No. 95/Rpr/2022) (Assessment Year: 2017-18) Shree Krishna Colonisers V Principal Commissioner Of Income Tax- 0, Nemichand Gali, Ganj Para Ward S Pcit, Raipur-I No.5, Ram Sagar Para, Raipur, 492001, Chhattisgarh Pan: Abffs7335G (Ita No. 96/Rpr/2022) (Assessment Year: 2017-18) Shree Krishna Builders Principal Commissioner Of Income Tax- 5/425, Nemichand Gali, Ramsagar Para Pcit, Raipur-I Ward, Raipur, Chhattisgarh Pan: Aacft1716A (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 : 09.10.2023 घोषणा क" तार"ख/Date Of : 14.12.2023 Pronouncement आदेश / O R D E R Per Arun Khodpia, Am:

133(A) was conducted at the premises of concerns of the assessee on 27.01.2017. Later on, the case of the assessee was selected for scrutiny through CASS under the category complete scrutiny. Statutory notices were issued and served on the assessee. In response to the notices, the assessee had submitted replies which were duly considered by the Ld. AO. During

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAIPUR, RAIPUR vs. S.P. BUILDCON PVT. LTD., 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

Housing & Infrastructure Company Pvt. Ltd. Vs. Income Tax Officer [(2020) 59 CCH 0141 Del Trib] When current account is maintained between parties, provisions of Section 2(22)(e) would not apply. S.P. Buildcon Pvt. Ltd. Deputy Commissioner of Income Tax (OSD) & ORS. Vs. Dishman Pharmaceuticals & Chemicals Ltd. & ORS. [(2018) 53 CCH 0065 Ahd Trib] Section 2(22)(e) does

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

Housing & Infrastructure Company Pvt. Ltd. Vs. Income Tax Officer [(2020) 59 CCH 0141 Del Trib] When current account is maintained between parties, provisions of Section 2(22)(e) would not apply. S.P. Buildcon Pvt. Ltd. Deputy Commissioner of Income Tax (OSD) & ORS. Vs. Dishman Pharmaceuticals & Chemicals Ltd. & ORS. [(2018) 53 CCH 0065 Ahd Trib] Section 2(22)(e) does

D.C.I.T. CENTRAL CRICLE,, RAIPUR vs. DEVI IRON & POWER LIMITED, RAIPUR

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 267 & 268/Rpr/2014 Co Nos. 30 & 31/Rpr/2015 "नधा"रण वष" / Assessment Years : 2011-12 & 2012-13 The Deputy Commissioner Of Income Tax, Central Circle, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. Mahamaya Tower, 3Rd & 4Th Floor, In Front Of Anupam Nagar, Near Varun Honda, G.E. Road, Raipur (C.G.) Pan : Aaeca3704G ……""यथ" / Respondent आयकर अपील सं. / Ita No.101/Rpr/2017 "नधा"रण वष" / Assessment Year : 2013-14 The Assistant Commissioner Of Income Tax (Central)-2, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. B-08-09, Sector-C, Industrial Area, Urla, Sarora, Raipur (C.G.) Pan : Aabcd9753D ……""यथ" / Respondent Co Nos.30 & 31/Rpr/2015

house company, as under: A.Y. Name Amount 2011-12 Antariksh Commerce Pvt. Ltd. 32,00,000/- 2011-12 Escort Finvest Private Limited 37,50,00,000/- The A.O considering the aforesaid facts called upon the assessee to establish the identity, creditworthiness and genuineness of the transaction of receipt of share application money from the aforementioned parties. In reply, the assessee

D.C.I.T. CENTRAL CRICLE,, RAIPUR vs. DEVI IRON & POWER PVT LIMITED, RAIPUR

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 267 & 268/Rpr/2014 Co Nos. 30 & 31/Rpr/2015 "नधा"रण वष" / Assessment Years : 2011-12 & 2012-13 The Deputy Commissioner Of Income Tax, Central Circle, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. Mahamaya Tower, 3Rd & 4Th Floor, In Front Of Anupam Nagar, Near Varun Honda, G.E. Road, Raipur (C.G.) Pan : Aaeca3704G ……""यथ" / Respondent आयकर अपील सं. / Ita No.101/Rpr/2017 "नधा"रण वष" / Assessment Year : 2013-14 The Assistant Commissioner Of Income Tax (Central)-2, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. B-08-09, Sector-C, Industrial Area, Urla, Sarora, Raipur (C.G.) Pan : Aabcd9753D ……""यथ" / Respondent Co Nos.30 & 31/Rpr/2015

house company, as under: A.Y. Name Amount 2011-12 Antariksh Commerce Pvt. Ltd. 32,00,000/- 2011-12 Escort Finvest Private Limited 37,50,00,000/- The A.O considering the aforesaid facts called upon the assessee to establish the identity, creditworthiness and genuineness of the transaction of receipt of share application money from the aforementioned parties. In reply, the assessee

THE ASSISTANT COMMISSIONER OF INCOME-TAX-CENTRAL CIRCLE-2,RAIPUR, RAIPUR (CG) vs. M/S DEVI IRON & POWER PVT LTD., RAIPUR, RAIPUR (CG)

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 267 & 268/Rpr/2014 Co Nos. 30 & 31/Rpr/2015 "नधा"रण वष" / Assessment Years : 2011-12 & 2012-13 The Deputy Commissioner Of Income Tax, Central Circle, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. Mahamaya Tower, 3Rd & 4Th Floor, In Front Of Anupam Nagar, Near Varun Honda, G.E. Road, Raipur (C.G.) Pan : Aaeca3704G ……""यथ" / Respondent आयकर अपील सं. / Ita No.101/Rpr/2017 "नधा"रण वष" / Assessment Year : 2013-14 The Assistant Commissioner Of Income Tax (Central)-2, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. B-08-09, Sector-C, Industrial Area, Urla, Sarora, Raipur (C.G.) Pan : Aabcd9753D ……""यथ" / Respondent Co Nos.30 & 31/Rpr/2015

house company, as under: A.Y. Name Amount 2011-12 Antariksh Commerce Pvt. Ltd. 32,00,000/- 2011-12 Escort Finvest Private Limited 37,50,00,000/- The A.O considering the aforesaid facts called upon the assessee to establish the identity, creditworthiness and genuineness of the transaction of receipt of share application money from the aforementioned parties. In reply, the assessee

C.G. BUILDCON PRIVATE LIMITED ,RAIPUR vs. ITO WARD 3(1), RAIPUR

In the result, appeal of the assessee company is dismissed

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpiaआयकर अपील सं. / Ita No.300/Rpr/2023 "नधा"रण वष" / Assessment Year : 2009-10 C.G Buildcon Private Limited B-1, 3Rd Floor, C.G. Elite, Opp. Mandi Gate, Vidhan Sabha Road, Pandri (C.G.)-492 004 Pan: Aaccc5355P

133(6) from Nagar Palik Nigam, Raipur but the reports and response did not reveal any objection that to the effect that the construction was not completed, 10. That on the facts and in the circumstances and in law the Ld. CIT(A) erred in facts as well as in law in dismissing the Appeal by not following the intent

KAVITA BUDHIA,NEAR MAA SHARDA HOSPITAL RING ROAD vs. INCOME TAX OFFICER, WARD-1, KORBA, MAHANADI COMPLEX, NIHARIKA

Appeal of the assessee is allowed for statistical purposes, in terms of over aforesaid observations

Bench: Shri Partha Sarathi Chaudhury, Jm & Shri Arun Khodpia, Am आयकर अपील सं. / Ita No: 171/Rpr/2025 (िनधा"रण वष" Assessment Year: 2016-17)

property in the F.Y. 2003- 04 for Rs.2,78,000/- and further made construction during F.Y. 2006-07 to 2008- 09. The Id. AO has not given any rebate for cost of acquisition and cost of improvement which is highly unjustified and bad in law. 5. Aggrieved with the aforesaid additions, assessee preferred an appeal before

SOUTH EASTERN COALFIELDS LIMITED, BILASPUR,BILASPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), BILASPUR, BILASPUR

Bench: Shri Ravish Sood & Shri Arun Khodpia

section 5, when it is received or deemed to be received by a person. All income for the purpose of charge of income-tax and computation of total income is required to be classified under distinct heads of income such as salaries, income from house property, profits and gains of business or profession, capital gains and income from other sources

SOUTH EASTERN COALFIELDS LIMITED, BILASPUR,BILASPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), BILASPUR, BILASPUR

Bench: Shri Ravish Sood & Shri Arun Khodpia

section 5, when it is received or deemed to be received by a person. All income for the purpose of charge of income-tax and computation of total income is required to be classified under distinct heads of income such as salaries, income from house property, profits and gains of business or profession, capital gains and income from other sources