INCOME TAX OFFICER, WARD-1(4), RAIPUR vs. MESERS G P INFRAVENTURES, RAIPUR

The appeal of the department stands disposed off

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am (Ita No.76/Rpr/2020) (Assessment Year: 2015-16) Income Tax Officer Ward-1(4), V M/S G.P. Infraventures, 1St Floor, Aayakar Bhavan, S Shree Tower, Shankar Nagar, Central Revenue Building, Raipur (C.G.) Civil Lines, Raipur (C.G.) Pan: Aanfg6074B (अपीलाथ" /Applicant) : (""यथ" / Respondent) (Ita No.94/Rpr/2020) (Assessment Year: 2015-16) M/S G.P. Infraventures, V Income Tax Officer-1(4), Shree Tower, Shankar Nagar, S Raipur Raipur (C.G.) Pan: Aanfg6074B (अपीलाथ" /Applicant) (""यथ" / Respondent) : िनधा"रती क" ओर से /Assessee By : Shri Sunil Kumar Agarwal, Ca राज"व क" ओर से /Revenue By : Smt. Ila M. Parmar, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 10.10.2023 घोषणा क" तार"ख / Date Of : 23.11.2023 7Pronouncement

68 of the Income Tax Act, 1961 should be deleted or set aside?" 25 ITA 76 & 94/RPR/2020 G.P. Infraventures 4. The High Court, disagreeing with the Tribunal, held, that the provisions of Section 142 and sub-sections (2) and (3) of Section 143 will have mandatory application in a case where the assessing officer in repudiation

DOLPHIN PROMOTERS AND BUILDERS,RAIPUR vs. ADDL.CIT, RANGE-1, RAIPUR, RAIPUR

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं. / Ita No: 58/Rpr/2024 (िनधा"रण वष" Assessment Year: 2011-12)

68,00,000 on the count of 'sale proceeds of immovable property sold on 4-11-20, treating it as undisclosed business receipts, which is unjustified and is liable to be deleted. 5. On the facts and circumstances of the case and in law, Id CIT(A) has erred in sustaining the addition of Rs.50,00,000 made

INCOME TAX OFFICER, WARD 4(1), RAIPUR vs. AVIRAL FINANCE PRIVATE LIMITED,, RAIPUR

In the result, appeal of Revenue is partly allowed for statistical purposes

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita No.13/Rpr/2021 िनधा"रण वष" /Assessment Year: 2017-18 V. Ito-4(1) Aviral Finance Pvt. Ltd. Raipur Ground Floor, Nalghar Chowk, Raipur – 492 001 [Pan: Aabcg 2701 N] (अपीलाथ"/Appellant) (""यथ"/Respondent) : अपीलाथ" की ओर से/ Appellant By Shri Praveen Khandelwal & Shri Praveen Goyal, Cas ""थ" की ओर से /Respondent By : Smt. Ila M. Parmar, Cit-D.R. सुनवाई क" तार"ख/Date Of Hearing : 13.07.2023 घोषणा क" तार"ख /Date Of Pronouncement : 22.09.2023

Section 68 of the Act, 1961. In response, the assessee filed ITR, Computation, Bank Statement of Share subscriber. The Learned AO on perusal of these documents have found that the entire sum received by the assessee company was from family members and family concerns in which such members are either Director or partners. To verify the genuineness

ARUNA TIWARI,RAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, RAIPUR, RAIPUR

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 90/Rpr/2022 "नधा"रण वष" / Assessment Year : 2015-16 Smt. Aruna Tiwari 762, Sundar Nagar, Raipur (C.G.)-492 001 Pan: Adbpt4977B .......अपीलाथ" / Appellant बनाम / V/S. The Pr. Commissioner Of Income Tax-1, Raipur (C.G.) ……""यथ" / Respondent

section 263 of the Act being highly unjustified and not in accordance with the provisions of law, may please be cancelled. GROUND NO. IV 4. That the Appellant craves leave to add, amend, alter or delete all or any of the grounds of appeal at the time of hearing of the appeal.” 2. Although the registry has pointed

THE CHHATTISGARH STATE POWER GENERATION COMPANY LIMITED, RAIPUR,RAIPUR (CG) vs. THE ASSTT. COMMISSIONER OF INCOME TAX 1(2),RAIPUR, RAIPUR (CG)

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.16/Rpr/2017 "नधा"रण वष" / Assessment Year : 2009-10 Chhattisgarh State Power Generation Company Ltd. O/O. Executive Director-Finance Ground Floor, Vidyut Seva Bhawan, Daganiya, Raipur-492 001 (C.G.) Pan : Aadcc5772F .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-1(2), Raipur (C.G.) ……""यथ" / Respondent आयकर अपील सं. / Ita No.24/Rpr/2022 "नधा"रण वष" / Assessment Year : 2018-19 Chhattisgarh State Power Generation Company Ltd. Ground Floor, Vidyut Seva Bhawan, Daganiya, Raipur-492 001 (C.G.) Pan : Aadcc5772F .......अपीलाथ" / Appellant बनाम / V/S.

7(j) of the Transfer Rules, Government of Chhattisgarh vide notification dated 29.10.2010 No. 202/F-21/13/09/13/2/ED notified the opening balance sheet of successor companies which included the opening balance sheet of the assessee company as on 01.01.2009, being one of the successor company. Based on the values assigned in the said opening balance sheet, assessee-company recorded the value of assets

CHHATTISGARH STATE POWER GENERATION CO. LTD.,RAIPUR vs. DY. COMMISSIONER OF INCOME TAX-1(1), RAIPUR

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.16/Rpr/2017 "नधा"रण वष" / Assessment Year : 2009-10 Chhattisgarh State Power Generation Company Ltd. O/O. Executive Director-Finance Ground Floor, Vidyut Seva Bhawan, Daganiya, Raipur-492 001 (C.G.) Pan : Aadcc5772F .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-1(2), Raipur (C.G.) ……""यथ" / Respondent आयकर अपील सं. / Ita No.24/Rpr/2022 "नधा"रण वष" / Assessment Year : 2018-19 Chhattisgarh State Power Generation Company Ltd. Ground Floor, Vidyut Seva Bhawan, Daganiya, Raipur-492 001 (C.G.) Pan : Aadcc5772F .......अपीलाथ" / Appellant बनाम / V/S.

7(j) of the Transfer Rules, Government of Chhattisgarh vide notification dated 29.10.2010 No. 202/F-21/13/09/13/2/ED notified the opening balance sheet of successor companies which included the opening balance sheet of the assessee company as on 01.01.2009, being one of the successor company. Based on the values assigned in the said opening balance sheet, assessee-company recorded the value of assets

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

7. During the course of scrutiny, verification reveals that Shri Sanjay Raheja and Shri Deepak Raheja are directors of the assessee company S.P. Buildcon Pvt. Ltd., 0Raipur and also holds more than 10% shares of the company. The ledger account of Shri Sanjay Raheja and Shri Deepak Raheja in the books of the company for the relevant F.Y.2013-14 shows overall

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

7. During the course of scrutiny, verification reveals that Shri Sanjay Raheja and Shri Deepak Raheja are directors of the assessee company S.P. Buildcon Pvt. Ltd., 0Raipur and also holds more than 10% shares of the company. The ledger account of Shri Sanjay Raheja and Shri Deepak Raheja in the books of the company for the relevant F.Y.2013-14 shows overall

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

68 of the Act, the functions of NRDA was to prepare the development plan for the special area and implement the same after its approval by the State Government. It was submitted by the assessee that in order to facilitate the implementation of the aforesaid plan it would acquire, hold, develop, manage and dispose off lands and other properties. Rebutting

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

68 of the Act, the functions of NRDA was to prepare the development plan for the special area and implement the same after its approval by the State Government. It was submitted by the assessee that in order to facilitate the implementation of the aforesaid plan it would acquire, hold, develop, manage and dispose off lands and other properties. Rebutting

SURENDRA KUMAR DAGA,RAIPUR vs. ITO, WARD - 36(2), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri N.K. Choudhryassessment Year: 2013-14

68 of the Act was thus discharged by the assessee towards nature and source of credit and the extent of enquiry desired in a given case is left to the discretion of the A.O. Once the lenders have admitted having given the loan, no addition could have been made in the hands of the assessee as held in several judicial

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE- 1(1), BHILAI vs. SHRI NITIN SANKHLA, DURG

In the result, grounds no 2 to 7 on this single issue of the appeal of the revenue are dismissed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.98/Rpr/2020 (Assessment Year: 2017-18) Asstt. Commissioner Of Income Tax- Vs Shri Nitin Sankhla 1(1), Bhilai 1St Floor, Navkar Bullion, Above Navin Jeweller, Jawahar Chowk, Durg Pan No. :Bbups 4874 C (अपीलाथ" /Appellant) (""यथ" / Respondent) .. : Shri Ravi Agarwal, Ca "नधा"रती क" ओर से /Assessee By राज"व क" ओर से /Revenue By : Shri Ila M. Parmar, Cit- Dr सुनवाई क" तार"ख / Date Of Hearing : 02/06/2023 घोषणा क" तार"ख/Date Of Pronouncement : 08/06/2023 आदेश / O R D E R Per Arun Khodpia, Am :

section 68 of the Act by introducing two provisos that the source of source of share capital may be verified. An additional onus 2 needs to be placed on such companies to also prove the source of money in the hands of such shareholder or persons making payment towards issue of shares before such sum is accepted as genuine

SHRI ASHIT KUMAR DEY,JAGDALPUR vs. INCOME TAX OFFICER, JAGDALPUR

The appeal of the assessee is allowed

Bench: Shri Ravish Sood () & Shri Rathod Kamlesh Jayantbhai (Accountantmember) I.T.A. No. 119/Rpr/2018 (Assessment Year: 2009-10) Shri Ashit Kumar Dey The Income Tax Officer Uttam Kumar Dey, Vs. Aayakar Bhawan, Fish Market, Sanjay Behind Khankar Market,Jagdalpur, Talkies,Civil Lines, Bastar - 494 001 Jagdalpur(C.G.) Pan No. Ajxpd4157D (Assessee) (Revenue) Assessee By : Shri S. R. Rao, Advocate Revenue By : Shri G. N. Singh, D.R Date Of Hearing : 07/06/2022 Date Of Pronouncement: 09/06/2022

7 Ashit Kumar Dey V.ITO ourselves within the realm of our jurisdiction, therein construe the scope and gamut of the aforesaid statutory provision by according a plain meaning to the language used in Sec. 68. We are of the considered view that a credit in the ‘bank account’ of an assessee cannot be construed as a credit in the ‘books

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), BHILAI vs. MESERS STEELCO ISPAT PRIVATE LIMITED, BHILAI

In the result, appeal of the revenue is partly allowed for statistical purposes in terms of our aforesaid observations

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.88/Rpr/2020 ("नधा"रण वष" / Assessment Year: 2014-15)

Section 23 68 of the Act which are applicable for the relevant A.Y.2014-15. We, therefore, set-aside the order of the CIT(A) and restore the issue to the file of the A.O for adjudicating the same afresh. Needless to say, the AO shall grant reasonable opportunity of being heard to the assessee in the set-aside proceedings. Thus

HARJINDAR SINGH BAL,DURG vs. INCOME TAX OFFICER, WARD-2(1), BHILAI

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

Bench: Shri Ravish Soodआयकर अपील सं./ Ita No. 57/Rpr/2020 "नधा"रण वष" / Assessment Year : 2010-11 Shri Harjindar Singh Bal Ward- No.29, Hospital Colony, Durg (C.G.)-491 001 Pan : Adepb7178F .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-2(1), Bhilai (C.G.). ……""यथ" / Respondent

Section 151 of the Income Tax Act, 1961 for initiation of reassessment proceedings was mechanical and granted without application of mind." 2. Succinctly stated, the assessee had filed his return of income for A.Y.2010-11 on 14.10.2010, declaring an income of Rs. 7,01,600/-. On the basis of certain information, viz. (i) that the assessee despite absence of liquid

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)

section 68, where a company receives share application money from a person then the source from whom such person has received money will also be investigated. In case of a company receiving loan, there is no such prerequisite u/s 68. In the present case the ADIT issued summons on 29/12/2014 to the 14 companies but the summons were returned

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)

section 68, where a company receives share application money from a person then the source from whom such person has received money will also be investigated. In case of a company receiving loan, there is no such prerequisite u/s 68. In the present case the ADIT issued summons on 29/12/2014 to the 14 companies but the summons were returned

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)

section 68, where a company receives share application money from a person then the source from whom such person has received money will also be investigated. In case of a company receiving loan, there is no such prerequisite u/s 68. In the present case the ADIT issued summons on 29/12/2014 to the 14 companies but the summons were returned

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)

section 68, where a company receives share application money from a person then the source from whom such person has received money will also be investigated. In case of a company receiving loan, there is no such prerequisite u/s 68. In the present case the ADIT issued summons on 29/12/2014 to the 14 companies but the summons were returned