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

68,50,770/-(as on 23/05/2013) respectively. Various transactions on regular intervals took place during the financial year 2013-14 in the form of advances to its director and repayment thereof. In this connection it is submitted in writing that "Old balance of loan account of Shri Sanjay Raheja as on 01/04/2013 was Rs.67.12/- Lacs. There was no opening distributable

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

68,50,770/-(as on 23/05/2013) respectively. Various transactions on regular intervals took place during the financial year 2013-14 in the form of advances to its director and repayment thereof. In this connection it is submitted in writing that "Old balance of loan account of Shri Sanjay Raheja as on 01/04/2013 was Rs.67.12/- Lacs. There was no opening distributable

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)

68 of the Act and added the amount received from the lender as unexplained credits in respective assessment years. 16.2 The AO also invoked the provisions of Section 2(22

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)

68 of the Act and added the amount received from the lender as unexplained credits in respective assessment years. 16.2 The AO also invoked the provisions of Section 2(22

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)

68 of the Act and added the amount received from the lender as unexplained credits in respective assessment years. 16.2 The AO also invoked the provisions of Section 2(22

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)

68 of the Act and added the amount received from the lender as unexplained credits in respective assessment years. 16.2 The AO also invoked the provisions of Section 2(22

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)

68 of the Act and added the amount received from the lender as unexplained credits in respective assessment years. 16.2 The AO also invoked the provisions of Section 2(22

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)

68 of the Act and added the amount received from the lender as unexplained credits in respective assessment years. 16.2 The AO also invoked the provisions of Section 2(22

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 115BBE has been inserted in the I. T. Act, 1961. Judicial pronouncement 1. SMT. HARSHIL CHORDIA VS. ITO [298 ITR 0349 (RAJSTHAN HC)] [Page 153-160 of PB] "Addition u/s 68 cannot be made in respect of the amount which was found to cash receipts from customers against which delivery of goods was made to them." 2. ACIT

INCOME TAX OFFICER, WARD-1(1), BILASPUR vs. M/S JAYEM HOLDING PVT. LTD., BILASPUR

In the result, appeal filed by the department in ITA no

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am

Section 68 and accordingly, the addition of Rs. 23 Lacs made by the AO found to be on right footing, thus, the same qualifies to be confirmed. We, Accordingly, set aside the order of Ld. CIT(A) to the extent of Rs. 23/- Lacs received from M/s Moon Shine Mercantile Pvt. Ltd. and restore the addition made

M/S PURVI FINVEST LIMITED,BILASPUR vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1(1),, BILASPUR

In the result, appeal of the assessee company being devoid and bereft of any merit is dismissed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpia

section 68, applicable w.e.f from AY 2013-13, not only is the assessee required to explain the source of share application money, but in case the applicant is a company, then the said applicant company is also required to explain the source of money in is handing out of which the amount of share application money was advanced

MESERS S R INGOSTS PRIVATE LIMITED ,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1,, RAIPUR

In the result Revised Ground no 4 of the assessee is partly allowed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.04/Rpr/2020 (Assessment Year: 2011-2012) M/S S R Ingots Pvt. Ltd., Vs Acit, Cc-1, Raipur House No.16, Opp.Cg Gramin Bank, Choubey Colony, Raipur Pan No. :Aaics 5559 D (अपीलाथ" /Appellant) .. (""यथ" / Respondent) "नधा"रती क" ओर से /Assessee By : Shri Ajoy Kumar Singh & Smt. Surbhi Jain, Ars राज"व क" ओर से /Revenue By : Smt. Ila M. Parmar, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 12/04/2023 घोषणा क" तार"ख/Date Of Pronouncement : 09/06/2023 आदेश / O R D E R Per Arun Khodpia, Am :

Section 68 itself. The AO passed the impugned Asst. Order U/s 147 r.w.s 143(3) on 22-12- 2018, making

EAST WEST FINVEST INDIA LIMITED,BILASPUR vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -1(1), BILASPR

In the result, appeal of the assessee company being devoid and bereft of any merit is dismissed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpia

section 68, applicable w.e.f from AY 2013-13, not only is the assessee required to explain the source of share application money, but in case the applicant is a company, then the said applicant company is also required to explain the source of money in is handing out of which the amount of share application money was advanced

M/S TRIMURTHY FINVEST LIMITED,BILASPUR vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1(1), BILASPUR

In the result, appeal of the assesse company being devoid and bereft of any merit is dismissed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpia

section 68, applicable w.e.f from AY 2013-13, not only is the assessee required to explain the source of share application money, but in case the applicant is a company, then the said applicant company is also required to explain the source of money in is handing out of which the amount of share application money was advanced

AGRAWAL INFRABUILD PRIVATE LIMITED ,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-II, RAIPUR

In the result, both appeals of the assessee are allowed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita Nos.10 & 11/Rpr/2020 (ननधाारण वषा / Assessment Year :2013-2014 & 2014-2015) Agrawal Infrabuild Private Limited, Vs Acit, Central Circle-Ii, Raipur 1St Floor, V.R.Plaza, Bilaspur Pan No. :Aafca 6636 C (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

section 68 - Addition is called for. Pramila Investment and Finance Ltd. v. ITO (2013) 22 ITJ 149 (Trib. =Indore

AGRAWAL INFRABUILD PRIVATE LIMITED ,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-II, RAIPUR

In the result, both appeals of the assessee are allowed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita Nos.10 & 11/Rpr/2020 (ननधाारण वषा / Assessment Year :2013-2014 & 2014-2015) Agrawal Infrabuild Private Limited, Vs Acit, Central Circle-Ii, Raipur 1St Floor, V.R.Plaza, Bilaspur Pan No. :Aafca 6636 C (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

section 68 - Addition is called for. Pramila Investment and Finance Ltd. v. ITO (2013) 22 ITJ 149 (Trib. =Indore

MESERS GOYAL INFRAVENTURES PRIVATE LIMITED,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, RAIPUR

In the result, all the appeals filed by the assessee vide ITA No

Bench: Shri Pradip Kumar Kedia & Shri Pawan Singh

section 68 was warranted in absence of incriminating evidence, in the abated assessment. We hold so. In the result the ground No. 3 raised by the assessee is allowed. M/s. Goyal Energy & Steel Pvt. Ltd.& another ITA Nos.240-243 & 246/RPR/2019 21. We further find that the assessee in response to the show cause notice dated 29.08.2018 filed its detail reply

MESERS GOYAL ENERGY & STEEL PRIVATE LIMITED,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, RAIPUR

In the result, all the appeals filed by the assessee vide ITA No

Bench: Shri Pradip Kumar Kedia & Shri Pawan Singh

section 68 was warranted in absence of incriminating evidence, in the abated assessment. We hold so. In the result the ground No. 3 raised by the assessee is allowed. M/s. Goyal Energy & Steel Pvt. Ltd.& another ITA Nos.240-243 & 246/RPR/2019 21. We further find that the assessee in response to the show cause notice dated 29.08.2018 filed its detail reply