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

Bench: Shri Ravish Sood & Shri Arun Khodpia

2(45) of the Act and it means the total amount of income computed in the manner laid down in the Act. Thus, for arriving at the total income, the income derived from all sources is to be considered as provided by section 5, when it is received or deemed to be received by a person. All income

SOUTH EASTERN COAL FIELDS LTD.,,BILASPUR(CG) vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -1(1), BILASPUR(CG)

Bench: Shri Ravish Sood & Shri Arun Khodpia

2(45) of the Act and it means the total amount of income computed in the manner laid down in the Act. Thus, for arriving at the total income, the income derived from all sources is to be considered as provided by section 5, when it is received or deemed to be received by a person. All income

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -1(1), BILASPUR(CG) vs. SOUTH EASTERN COAL FIELDS LTD.,, BILASPUR(CG)

Bench: Shri Ravish Sood & Shri Arun Khodpia

2(45) of the Act and it means the total amount of income computed in the manner laid down in the Act. Thus, for arriving at the total income, the income derived from all sources is to be considered as provided by section 5, when it is received or deemed to be received by a person. All income

SOUTH EASTERN COALFIELDS LTD,BILASPUR(CG) vs. DY.. C.I.T.-1(1), BILASPUR(CG)

Bench: Shri Ravish Sood & Shri Arun Khodpia

2(45) of the Act and it means the total amount of income computed in the manner laid down in the Act. Thus, for arriving at the total income, the income derived from all sources is to be considered as provided by section 5, when it is received or deemed to be received by a person. All income

THE DEPUTY COMMISSIONER OF INCOME TAX,CIRCLE 1(1)BILASPUR, BILASPUR(CG) vs. THE SOUTH EASTERN COAL FIELDS LTD., BILASPUR, BILASPUR(CG)

Bench: Shri Ravish Sood & Shri Arun Khodpia

2(45) of the Act and it means the total amount of income computed in the manner laid down in the Act. Thus, for arriving at the total income, the income derived from all sources is to be considered as provided by section 5, when it is received or deemed to be received by a person. All income

THE DY. CIT- CIR.-1(1),, BILASPUR(CG) vs. SOUTH EASTERN COALFILDS LTD.,, BILASPUR(CG)

Bench: Shri Ravish Sood & Shri Arun Khodpia

2(45) of the Act and it means the total amount of income computed in the manner laid down in the Act. Thus, for arriving at the total income, the income derived from all sources is to be considered as provided by section 5, when it is received or deemed to be received by a person. All income

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

Bench: Shri Ravish Sood & Shri Arun Khodpia

2(45) of the Act and it means the total amount of income computed in the manner laid down in the Act. Thus, for arriving at the total income, the income derived from all sources is to be considered as provided by section 5, when it is received or deemed to be received by a person. All income

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

Bench: Shri Ravish Sood & Shri Arun Khodpia

2(45) of the Act and it means the total amount of income computed in the manner laid down in the Act. Thus, for arriving at the total income, the income derived from all sources is to be considered as provided by section 5, when it is received or deemed to be received by a person. All income

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

Bench: Shri Ravish Sood & Shri Arun Khodpia

2(45) of the Act and it means the total amount of income computed in the manner laid down in the Act. Thus, for arriving at the total income, the income derived from all sources is to be considered as provided by section 5, when it is received or deemed to be received by a person. All income

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

Bench: Shri Ravish Sood & Shri Arun Khodpia

2(45) of the Act and it means the total amount of income computed in the manner laid down in the Act. Thus, for arriving at the total income, the income derived from all sources is to be considered as provided by section 5, when it is received or deemed to be received by a person. All income

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

Bench: Shri Ravish Sood & Shri Arun Khodpia

2(45) of the Act and it means the total amount of income computed in the manner laid down in the Act. Thus, for arriving at the total income, the income derived from all sources is to be considered as provided by section 5, when it is received or deemed to be received by a person. All income

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

Penalty proceedings u/s 271(1)(c) of the I.T.Act are initiated separately for furnishing inaccurate particulars of income. 10. Further, it would be pertinent to mention that the assessee has shown loss from trading of currency derivative in Futures & Options (F&O) at Rs.56,15,450/and debited in profit and loss account of the company. Commodity transactions under

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

Penalty proceedings u/s 271(1)(c) of the I.T.Act are initiated separately for furnishing inaccurate particulars of income. 10. Further, it would be pertinent to mention that the assessee has shown loss from trading of currency derivative in Futures & Options (F&O) at Rs.56,15,450/and debited in profit and loss account of the company. Commodity transactions under

SANTOSH JAIN, DURG,DURG vs. INCOME TAX OFFICER-1(1), BHILAI, DURG

In the result, appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 143, 145 & 147/Rpr/2023 "नधा"रण वष" / Assessment Year : 1993-94, 1994-95 & 1995-96 Santosh Jain Opp. P.N Tiwari, Gandhi Chowk, Durg (C.G.)-491 001 Pan: Afypj6194D .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-1(1), Bhilai (C.G.) ……""यथ" / Respondent

2 and the penalty order is sought to be assailed being illegal ab initio void inasmuch as it is time barred. Following submission may kindly be considered: - 3.1 The assessment order was passed on 15.03.2002 u/s 144/147, as is mentioned in the first para of the penalty order. 3.2 As per the sec. 275(1)(c), no order imposing penalty

SANTOSH JAIN, DURG,DURG vs. INCOME TAX OFFICER-1(1), BHILAI, DURG

In the result, appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 143, 145 & 147/Rpr/2023 "नधा"रण वष" / Assessment Year : 1993-94, 1994-95 & 1995-96 Santosh Jain Opp. P.N Tiwari, Gandhi Chowk, Durg (C.G.)-491 001 Pan: Afypj6194D .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-1(1), Bhilai (C.G.) ……""यथ" / Respondent

2 and the penalty order is sought to be assailed being illegal ab initio void inasmuch as it is time barred. Following submission may kindly be considered: - 3.1 The assessment order was passed on 15.03.2002 u/s 144/147, as is mentioned in the first para of the penalty order. 3.2 As per the sec. 275(1)(c), no order imposing penalty

SANTOSH JAIN, DURG,DURG vs. INCOME TAX OFFICER-1(1), BHILAI, DURG

In the result, appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 143, 145 & 147/Rpr/2023 "नधा"रण वष" / Assessment Year : 1993-94, 1994-95 & 1995-96 Santosh Jain Opp. P.N Tiwari, Gandhi Chowk, Durg (C.G.)-491 001 Pan: Afypj6194D .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-1(1), Bhilai (C.G.) ……""यथ" / Respondent

2 and the penalty order is sought to be assailed being illegal ab initio void inasmuch as it is time barred. Following submission may kindly be considered: - 3.1 The assessment order was passed on 15.03.2002 u/s 144/147, as is mentioned in the first para of the penalty order. 3.2 As per the sec. 275(1)(c), no order imposing penalty

ASHOK KUMAR WADHWANI, RAIPUR,RAIPUR vs. INCOME TAX OFFICER, WARD-1(2), RAIPUR, RAIPUR

In the result, appeal in ITA No

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpiaआयकर अपील सं./Ita Nos.117 &118/Rpr/2024 "नधा"रण वष" /Assessment Year: 2014-15 & 2016-17 Ashok Kumar Wadhwani, Ujwal Udyog, Sinodha, Neora, Tilda, Raipur, Chhattisgarh. Pan: Aahpw1400B .......अपीलाथ" / Appellant बनाम / V/S.

section 145(3) of the L.T.Act. For the reasons detailed above, the purchases recorded in the books of account of the assessee amounting to Rs.2,87,51,400/- are held to be bogus and 25% of such purchase amount works out of Rs.71,87,850/- is hereby added to the total income of the assessee in respect of transaction shown

ASHOK KUMAR WADHWANI, RAIPUR,RAIPUR vs. INCOME TAX OFFICER, WARD-1(2), RAIPUR, RAIPUR

In the result, appeal in ITA No

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpiaआयकर अपील सं./Ita Nos.117 &118/Rpr/2024 "नधा"रण वष" /Assessment Year: 2014-15 & 2016-17 Ashok Kumar Wadhwani, Ujwal Udyog, Sinodha, Neora, Tilda, Raipur, Chhattisgarh. Pan: Aahpw1400B .......अपीलाथ" / Appellant बनाम / V/S.

section 145(3) of the L.T.Act. For the reasons detailed above, the purchases recorded in the books of account of the assessee amounting to Rs.2,87,51,400/- are held to be bogus and 25% of such purchase amount works out of Rs.71,87,850/- is hereby added to the total income of the assessee in respect of transaction shown