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

68 of the Income-tax Act, 1961? 3. Any other ground which may be adduced at the time of hearing. S.P. Buildcon Pvt. Ltd. Ground No. 1: Deleting the addition of Rs.60,39,610/- adopting AS-7 i.e., “Percentage Completion Method”. 32. At the outset, on the issue of applicability of percentage completion method Ld. Sr. DR reiterated facts from

DEPUTY COMMISSIONER OF INCOME TAX( CENTRAL)-2, RAIPUR vs. MESERS SHREE JAGDAMBA CONSTRUCTION COMPANY, RAIPUR

In the result, appeal of the Revenue is dismissed

Bench: Shri Pradip Kumar Kedia & Shri Pawan Singhआयकर अपील सं./I.T.A. Nos. 37 To 42/Rpr/2020 ("नधा"रण वष" / Assessment Years : 2009-10 To 2014-15)

2. In its appeal for A.Ys. 2009-10 to 2012-13, the Revenue has challenged the reversal of additions made by the AO under s.40A(iii) of the Act by the CIT(A). The facts and issue being identical, we first take up ITA No. 37/RPR/2020 for A.Y. 2009-10 for appreciation of facts and adjudication thereon. ITA No. 37/RPR/2020

DEPUTY COMMISSIONER OF INCOME TAX( CENTRAL)-2, RAIPUR vs. MESERS SHREE JAGDAMBA CONSTRUCTION COMPANY, RAIPUR

In the result, appeal of the Revenue is dismissed

Bench: Shri Pradip Kumar Kedia & Shri Pawan Singhआयकर अपील सं./I.T.A. Nos. 37 To 42/Rpr/2020 ("नधा"रण वष" / Assessment Years : 2009-10 To 2014-15)

2. In its appeal for A.Ys. 2009-10 to 2012-13, the Revenue has challenged the reversal of additions made by the AO under s.40A(iii) of the Act by the CIT(A). The facts and issue being identical, we first take up ITA No. 37/RPR/2020 for A.Y. 2009-10 for appreciation of facts and adjudication thereon. ITA No. 37/RPR/2020

DEPUTY COMMISSIONER OF INCOME TAX( CENTRAL)-2, RAIPUR vs. MESERS SHREE JAGDAMBA CONSTRUCTION COMPANY, RAIPUR

In the result, appeal of the Revenue is dismissed

Bench: Shri Pradip Kumar Kedia & Shri Pawan Singhआयकर अपील सं./I.T.A. Nos. 37 To 42/Rpr/2020 ("नधा"रण वष" / Assessment Years : 2009-10 To 2014-15)

2. In its appeal for A.Ys. 2009-10 to 2012-13, the Revenue has challenged the reversal of additions made by the AO under s.40A(iii) of the Act by the CIT(A). The facts and issue being identical, we first take up ITA No. 37/RPR/2020 for A.Y. 2009-10 for appreciation of facts and adjudication thereon. ITA No. 37/RPR/2020

DEPUTY COMMISSIONER OF INCOME TAX( CENTRAL)-2, RAIPUR vs. MESERS SHREE JAGDAMBA CONSTRUCTION COMPANY, RAIPUR

In the result, appeal of the Revenue is dismissed

Bench: Shri Pradip Kumar Kedia & Shri Pawan Singhआयकर अपील सं./I.T.A. Nos. 37 To 42/Rpr/2020 ("नधा"रण वष" / Assessment Years : 2009-10 To 2014-15)

2. In its appeal for A.Ys. 2009-10 to 2012-13, the Revenue has challenged the reversal of additions made by the AO under s.40A(iii) of the Act by the CIT(A). The facts and issue being identical, we first take up ITA No. 37/RPR/2020 for A.Y. 2009-10 for appreciation of facts and adjudication thereon. ITA No. 37/RPR/2020

DEPUTY COMMISSIONER OF INCOME TAX( CENTRAL)-2, RAIPUR vs. MESERS SHREE JAGDAMBA CONSTRUCTION COMPANY, RAIPUR

In the result, appeal of the Revenue is dismissed

Bench: Shri Pradip Kumar Kedia & Shri Pawan Singhआयकर अपील सं./I.T.A. Nos. 37 To 42/Rpr/2020 ("नधा"रण वष" / Assessment Years : 2009-10 To 2014-15)

2. In its appeal for A.Ys. 2009-10 to 2012-13, the Revenue has challenged the reversal of additions made by the AO under s.40A(iii) of the Act by the CIT(A). The facts and issue being identical, we first take up ITA No. 37/RPR/2020 for A.Y. 2009-10 for appreciation of facts and adjudication thereon. ITA No. 37/RPR/2020

DEPUTY COMMISSIONER OF INCOME TAX( CENTRAL)-2, RAIPUR vs. MESERS SHREE JAGDAMBA CONSTRUCTION COMPANY, RAIPUR

In the result, appeal of the Revenue is dismissed

Bench: Shri Pradip Kumar Kedia & Shri Pawan Singhआयकर अपील सं./I.T.A. Nos. 37 To 42/Rpr/2020 ("नधा"रण वष" / Assessment Years : 2009-10 To 2014-15)

2. In its appeal for A.Ys. 2009-10 to 2012-13, the Revenue has challenged the reversal of additions made by the AO under s.40A(iii) of the Act by the CIT(A). The facts and issue being identical, we first take up ITA No. 37/RPR/2020 for A.Y. 2009-10 for appreciation of facts and adjudication thereon. ITA No. 37/RPR/2020

FIVE STARCONSTRUCTION COMPANY,BHILAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 1(1), BHILAI

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.45/Rpr/2018 "नधा"रण वष" / Assessment Year : 2014-15 Five Star Construction Company Plot No.96-97, Light Industrial Area, Chawani Chowk, Bhilai (C.G)-490026 Pan : Aaaff4316L .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax-1(1), Bhilai (C.G.) ……""यथ" / Respondent

68 of the Act of 1961 straightway merely because of the reason that the genuineness of the transaction shown in the heading of the Sundry Creditors was not found genuine. 18 Five Star Construction Company Vs. DCIT-1(1), Bhilai 13. In view of the above reasons, following Section 145(3) the assessing officer should have proceeded

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 4(1), RAIPUR vs. M/S SUPER IRON AND STEEL PVT LTD.,, RAIPUR

In the result, appeal of the revenue is partly allowed and Cross objection of the assessee is dismissed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.261/Rpr/2017 ("नधा"रण वष" / Assessment Year :2010-2011) Acit-4(1), Raipur Vs M/S Super Iron & Steel Pvt. Ltd., Pritpal Farm House, Vip Road, Raipur(C.G.) Pan No. : Aaics 2579 R (अपीलाथ" /Appellant) .. (""यथ" / Respondent) & Cross Objection No.13/Rpr/2017 (Arising Out Of Ita No.261/Rpr/2017) ("नधा"रण वष" / Assessment Year :2010-2011) M/S Super Iron & Steel Pvt. Ltd., Vs Acit-4(1), Raipur Pritpal Farm House, Vip Road, Raipur(C.G.) Pan No. : Aaics 2579 R (अपीलाथ" /Appellant) (""यथ" / Respondent) ..

145(3) of the Act. The Ld.CIT(A) ought to have held that the order passed by the Ld.AO under section 144 of the Act is bad in law, highly illegal, highly unjustified and untenable and hence, it is requested that the assessment order may please be quashed and set aside. 2. On the facts and in the circumstances

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) ..

68,47,635/- out of the total addition of 3,59,80,960/- made by the Assessing Officer on the basis of DVO report.” 6. Brief Facts:- All these appeals have arisen out of common order of the LD CIT(A)-3, Bhopal on a common assessment order passed u/s 143(3) r.w.s. 153A of the IT Act., the brief

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) ..

68,47,635/- out of the total addition of 3,59,80,960/- made by the Assessing Officer on the basis of DVO report.” 6. Brief Facts:- All these appeals have arisen out of common order of the LD CIT(A)-3, Bhopal on a common assessment order passed u/s 143(3) r.w.s. 153A of the IT Act., the brief

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) ..

68,47,635/- out of the total addition of 3,59,80,960/- made by the Assessing Officer on the basis of DVO report.” 6. Brief Facts:- All these appeals have arisen out of common order of the LD CIT(A)-3, Bhopal on a common assessment order passed u/s 143(3) r.w.s. 153A of the IT Act., the brief

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) ..

68,47,635/- out of the total addition of 3,59,80,960/- made by the Assessing Officer on the basis of DVO report.” 6. Brief Facts:- All these appeals have arisen out of common order of the LD CIT(A)-3, Bhopal on a common assessment order passed u/s 143(3) r.w.s. 153A of the IT Act., the brief

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) ..

68,47,635/- out of the total addition of 3,59,80,960/- made by the Assessing Officer on the basis of DVO report.” 6. Brief Facts:- All these appeals have arisen out of common order of the LD CIT(A)-3, Bhopal on a common assessment order passed u/s 143(3) r.w.s. 153A of the IT Act., the brief

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) ..

68,47,635/- out of the total addition of 3,59,80,960/- made by the Assessing Officer on the basis of DVO report.” 6. Brief Facts:- All these appeals have arisen out of common order of the LD CIT(A)-3, Bhopal on a common assessment order passed u/s 143(3) r.w.s. 153A of the IT Act., the brief

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 2(1), RAIPUR vs. PSA CONSTRUCTION, RAIPUR

In the result, appeal of the revenue is dismissed

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

68,62,03,653/- 5. Net profit (a> 8% 1,53,84,842/- 2,36,61,456/- 5,48,96,292/- 6. 1,99,656/- Add: Interest on IT - - Refund 7. 1,10,27,495/- 1,78,16,666/- 3,16,24,345/- Less: Depreciation 8. 45,57,003/- 58,44,790/- 2,32,71,927/- Profit after Depreciation

SHRI SHRI SHIV SHANKAR AGRAWAL,KORBA(CG) vs. THE INCOME TAX OFFICER-1, KORBA(CG)

In the result appeal of the assessee is partly allowed for statistical purposes, in terms of our observations herein above

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am (Ita No. 270/Rpr/2016) (Assessment Year: 2008-09)

Section 145(2), or (ii) the Learned AO is not satisfied about the correctness or completeness of the account, or (iii) where the assessee is not following any method of accounting regularly; 3.7 It is a settled principle of law that if no such finding is given then income chargeable under the head "Profits and gains of business

VISHAL BUILDERS, RAIPUR,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1), RAIPUR, RAIPUR

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.263/Rpr/2023 "नधा"रण वष" / Assessment Year : 2013-14 Vishal Builders 7/619, Gawri Bhawan, Fafadih Naka, Raipur-492001(C.G.) Pan : Aaefv1401G .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle 3(1), Raipur, C.G.

2,43,14,260 13.09% 1,31,47,467 10.66% payment 7 Vishal Builders vs. ACIT, Circle-3(1), Raipur (C.G.) At this stage, we may herein observe that neither of the lower authorities had drawn any adverse inferences as regards the gross profit rate of the assessee for the year under consideration. 9. Apropos the comparative fall

SMT SMT. PRIYA SONI,RAIPUR (CG) vs. THE INCOME TAX OFFICER, WARD-4(5), RAIPUR (CG)

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

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita No.32/Rpr/2017 (ननधाारण वषा / Assessment Year : 2012-2013) Smt. Priya Soni, Vs Ito, Ward-4(5), Raipur C/O-M/S Shivani Jewellers Ramnarayan Soni, Lilli Chowk, Purani Basti, Raipur Pan No. : Awips 5478 A (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

145(3) of the Act and worked out net profit at 6.28% on the 3 turnover of Rs. 2,07,55,996/- at Rs. 13,03,476/- and considered the same as the total income by making an addition of Rs.7,28,286/-. Further the AO observed that the assessee had also taken unsecured loan amounting to Rs.36