RAIPUR SECURITIES AND INVESTMENT LIMITED,RAIPUR vs. INCOME TAX OFFICER, WARD 3(1), RAIPUR

In the result the appeal of the assessee is allowed on legal issue

Bench: Shri Ravish Sood & Shri Rathod Kamlesh Jayantbhaiआयकर अपील सं. / Ita No. 164/Rpr/2018 "नधा"रण वष" / Assessment Year : 2014-15 Raipur Securities & Investment Ltd. Mig 21, Indravati Colony, Raipur (C.G.) Pan : Aaccr4419F .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-3(1), Raipur (C.G.) ……""यथ" / Respondent

u/s 69 or unexplained expenditure u/s-69C. Because the assessee had himself submitted that VAT of Rs.10051/- is refundable means assets or in other word the refundable VAT is VAT Credit (purchase). Therefore, considering the above, I hereby add of Rs.2,51,275/- in the hand of the assessee u/s- 69C with initiating penalty proceeding u/s-271(1)(c) of Income