CHHATTISGARH STATE POWER TRANSMISSION COMPANY LIMITED,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(1), RAIPUR

In the result, the appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.81/Rpr/2020 "नधा"रण वष" / Assessment Year : 2011-12 Chhattisgarh State Power Transmission Company Ltd. Executive Director (Fin.), Csptcl, Second Floor, Sldc Building, Cseb Office Campus, Danginiya Raipur-492 013 (C.G.) Pan : Aadcc5773E .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-4(1), Raipur (C.G.) ……""यथ" / Respondent

56,831 Accordingly, on the basis of his aforesaid deliberations the A.O vide his order passed u/s.143(3) dated 28.03.2014 scaled down the loss of the assessee company to an amount of Rs.(-)2,25,58,748/-. 7. Aggrieved the assessee assailed the order passed by the A.O u/s.143(3) dated 28.03.2014 before the CIT(Appeals), but without any success

CHHATTISGARH STATE POWER TRANSMISSION COMPANY LTD,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX-4(1), RAIPUR

In the result, the appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.81/Rpr/2020 "नधा"रण वष" / Assessment Year : 2011-12 Chhattisgarh State Power Transmission Company Ltd. Executive Director (Fin.), Csptcl, Second Floor, Sldc Building, Cseb Office Campus, Danginiya Raipur-492 013 (C.G.) Pan : Aadcc5773E .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-4(1), Raipur (C.G.) ……""यथ" / Respondent

56,831 Accordingly, on the basis of his aforesaid deliberations the A.O vide his order passed u/s.143(3) dated 28.03.2014 scaled down the loss of the assessee company to an amount of Rs.(-)2,25,58,748/-. 7. Aggrieved the assessee assailed the order passed by the A.O u/s.143(3) dated 28.03.2014 before the CIT(Appeals), but without any success

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 2(1), , RAIPUR vs. SHRI RADHESHYAM AGRAWAL, 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.32/Rpr/2020 "नधा"रण वष" / Assessment Year : 2015-16 The Deputy Commissioner Of Income Tax-2(1), Raipur (C.G.) .......अपीलाथ"/Appellant बनाम / V/S. Radheshyam Agrawal 27/B, Ankit Choubey Colony, Raipur (C.G.). Pan : Aczpa6544J ……""यथ" / Respondent

2,56,570/- 2011-12 3,60,181/- 3,05,948/- 54,233 Total 8,52,584/- 8,78,483/- On the basis of his aforesaid deliberations the assessee’s claim for deduction of indexed cost of acquisition of the property sold was restricted by the AO at Rs.12,84,784/-, as under: F.Y. 2009-10 5,46,636*1024/632

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

NAYA RAIPUR DEVELOPMENT AUTHORITY,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX (EXEMPTION), RAIPUR

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

Bench: Shri Ravish Sood & Shri Rathod Kamlesh Jayantbhaiआयकर अपील सं. / Ita No. 174 & 63/Rpr/2019 "नधा"रण वष" / Assessment Year(S) : 2012-13 & 2013-14 Naya Raipur Development Authority Prayavas Bhawan, North Block, Sector 19, Naya Raipur Marg, Naya Raipur, Atal Nagar(C.G.) Pin-492 002. Pan : Aaalc0225H .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax (Exemption) Raipur (C.G.) ……""यथ" / Respondent Assessee By : S/Shri S.R Rao & Rajesh Kumar Chawda, Ar’S. Revenue By : Shri P.K. Mishra, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 09.06.2022 घोषणा क" तार"ख / Date Of Pronouncement : 02.09.2022

Housing Board. The functions and powers of the Corporation indicate that the Corporation is acting as a wing of the State Government in establishing industrial estates and developing industrial areas, acquiring property for those purposes, constructing buildings, allotting buildings, factory sheds to industrialists or industrial undertakings. It is obvious that the Corporation will receive moneys for disposal of land, buildings

NAYA RAIPUR DEVELOPMENT AUTHORITY,RAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTION), RAIPUR

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

Bench: Shri Ravish Sood & Shri Rathod Kamlesh Jayantbhaiआयकर अपील सं. / Ita No. 174 & 63/Rpr/2019 "नधा"रण वष" / Assessment Year(S) : 2012-13 & 2013-14 Naya Raipur Development Authority Prayavas Bhawan, North Block, Sector 19, Naya Raipur Marg, Naya Raipur, Atal Nagar(C.G.) Pin-492 002. Pan : Aaalc0225H .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax (Exemption) Raipur (C.G.) ……""यथ" / Respondent Assessee By : S/Shri S.R Rao & Rajesh Kumar Chawda, Ar’S. Revenue By : Shri P.K. Mishra, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 09.06.2022 घोषणा क" तार"ख / Date Of Pronouncement : 02.09.2022

Housing Board. The functions and powers of the Corporation indicate that the Corporation is acting as a wing of the State Government in establishing industrial estates and developing industrial areas, acquiring property for those purposes, constructing buildings, allotting buildings, factory sheds to industrialists or industrial undertakings. It is obvious that the Corporation will receive moneys for disposal of land, buildings

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) ..

56] is required to be made, the assessing officer may require the valuation officer to make on estimate of such value and report the some to him. (2) The valuation officer to whom a reference is made under sub- section (1) shall, for the purpose of dealing with such reference, hove 011 the powers that be has under section

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) ..

56] is required to be made, the assessing officer may require the valuation officer to make on estimate of such value and report the some to him. (2) The valuation officer to whom a reference is made under sub- section (1) shall, for the purpose of dealing with such reference, hove 011 the powers that be has under section

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) ..

56] is required to be made, the assessing officer may require the valuation officer to make on estimate of such value and report the some to him. (2) The valuation officer to whom a reference is made under sub- section (1) shall, for the purpose of dealing with such reference, hove 011 the powers that be has under section

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) ..

56] is required to be made, the assessing officer may require the valuation officer to make on estimate of such value and report the some to him. (2) The valuation officer to whom a reference is made under sub- section (1) shall, for the purpose of dealing with such reference, hove 011 the powers that be has under section

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) ..

56] is required to be made, the assessing officer may require the valuation officer to make on estimate of such value and report the some to him. (2) The valuation officer to whom a reference is made under sub- section (1) shall, for the purpose of dealing with such reference, hove 011 the powers that be has under section

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) ..

56] is required to be made, the assessing officer may require the valuation officer to make on estimate of such value and report the some to him. (2) The valuation officer to whom a reference is made under sub- section (1) shall, for the purpose of dealing with such reference, hove 011 the powers that be has under section

ASSISTANT COMMISSIONER OF INCOME TAX-1(1),, RAIPUR vs. SHRI SHARAD GOEL, RAIPUR

In the result appeal of the revenue stands dismissed, in terms of our observations herein above

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

section 45(3) of the IT act, 1961?" 2. "Whether on points of law and on facts & circumstances of the case, the Id. CIT(A) was justified in deleting the addition of Rs. Rs. 5,77,59,138/-, thereby not considering and not distinguishing the findings of the AO which is well supported by the ratio of the judgment

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

section 23(1) of the Act, therefore, we herein direct the A.O to determine the same strictly as per the mandate of law. Accordingly, the 49 Shri Sushil Kumar Agrawal Vs. Joint Commissioner of Income Tax, Range, Korba ITA Nos. 93 & 94 /RPR/2017 matter is restored to the file of the A.O for giving effect to our aforesaid observations

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

section 23(1) of the Act, therefore, we herein direct the A.O to determine the same strictly as per the mandate of law. Accordingly, the 49 Shri Sushil Kumar Agrawal Vs. Joint Commissioner of Income Tax, Range, Korba ITA Nos. 93 & 94 /RPR/2017 matter is restored to the file of the A.O for giving effect to our aforesaid observations

SYED HIFAJAT ALI,INDORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, BILASPUR

Appeal are disposed of in terms of our aforesaid observations

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं. / Ita No: 527/Rpr/2024 (िनधा"रण वष" Assessment Year: 2016-17)

section 56(2)(vii) r.w.s 50C, valuation by DVO cannot exceed the stamp duty valuation of property and accordingly when the value of property recorded by the assessee in his books is as per the stamp duty valuation, no further increase in warranted in the same. It is prayed that addition of Rs. 2,64,21,740/- made

JOINT.COMMISSIONER OF INCOME TAX RANGE -I, BILASPUR(CG) vs. SOUTH EASTERN COALFIELDS LTD, BILASPUR(CG)

The appeals of the assessee are partly allowed for statistical purposes and the appeal of the Revenue in ITA

Bench: Shri Anil Chaturvedi, Am & Shri Partha Sarathi Chaudhury,Jm Sl.

2(b) That on the facts and circumstances of the case, the action of the learned CIT(Appeals) in confirming 50% of the disallowance has no basis whatsoever and the same has been made on an ad-hoc basis. 3(a) That on the facts and circumstances of the case, the learned CIT(Appeals) erred in confirming disallowance upto

JOINT COMMISSIONER OF INCOME-TAX-RANGE-1,, BILASPUR vs. SOUTH EASTERN COALFIELDS LIMITED,, BILASPUR

The appeals of the assessee are partly allowed for statistical purposes and the appeal of the Revenue in ITA

Bench: Shri Anil Chaturvedi, Am & Shri Partha Sarathi Chaudhury,Jm Sl.

2(b) That on the facts and circumstances of the case, the action of the learned CIT(Appeals) in confirming 50% of the disallowance has no basis whatsoever and the same has been made on an ad-hoc basis. 3(a) That on the facts and circumstances of the case, the learned CIT(Appeals) erred in confirming disallowance upto