SHRI DEVI CHAND JAIN vs. I.T.O. WARD-2, RAJNANDGAON

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

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं./Ita No. 277/Rpr/2016 आयकर अपील सं./Ita No. 78/Rpr/2015 "नधा"रण वष" / Assessment Year : 2008-09 Shri Devi Chand Jain Prop. M/S. Loonkaram Devi Chand Jain, Main Road, Pandariya (C.G.) Pan : Abfpj6738Q .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Ward-2, Rajnandgaon. ……""यथ" / Respondent Assessee By : Shri S.R Rao, A.R Revenue By : Shri G.N Singh, D.R सुनवाई क" तार"ख / Date Of Hearing : 02.02.2022 घोषणा क" तार"ख / Date Of Pronouncement : 21.02.2022 A.Ys.2008-09

68 of the Act and as such no fault can be found with the order of the Tribunal which has endorsed the decision of the CIT(A). 10. The above being the position, no fault can be found with the view taken by the Tribunal. 11. Thus, the order of the Tribunal does not give rise to a question

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

INCOME TAX OFFICER-2, RAIGARH vs. SHRI VINOD KUMAR JAIN, JASHPUR

In the result appeal of the revenue is dismissed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.96/Rpr/2018 ("नधा"रण वष" / Assessment Year :2014-2015) Ito-2, Raigargh Vs Shri Vinod Kumar Jain, College Road, Dist : Jashpur Pan No. : Agepj 9793 M (अपीलाथ" /Appellant) .. (""यथ" / Respondent) "नधा"रती क" ओर से /Assessee By : Shri R.B.Doshi, Ca राज"व क" ओर से /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 02/08/2022 घोषणा क" तार"ख/Date Of Pronouncement : 31 /10 /2022 आदेश / O R D E R Per Arun Khodpia, Am : This Appeal Is Filed By The Revenue Against The Order Passed By The Cit(A)-1, Bilaspur, Dated 06.03.2018, On The Following Ground :- 1. Whether In The Facts & Circumstance & In Law, The Ld. Cit(A) Is Justified In Deleting The Addition Of Rs. 6,43,00,000/- Made By The Ao U/S 68 Of The Act? 2. Whether On The Facts & Circumstances Of The Case & On The Points Of The Law Ld. Cit(A) Was Justified In Deleting The Addition Of Rs. 6,43,00,000/- Made By The Ao By Ignoring The Facts As Brought On Record By The Ao That The Assessee Failed To Prove The Identity Of The Creditor, Genuineness Of The Transaction & Creditworthiness Of The Investor As Per The Parameters Of The Legal Provisions U/S 68 Of The Act? 3. Whether In The Facts & Circumstances & In Law, The Ld. Cit(A) Is Justified In Deleting The Addition Of Rs. 6,43,00,000/- Made By The Ao U/S 68 Of The Act By Ignoring The Decisions In The Following Lead Cases:- (I) Mcdowell & Company Ltd Vs Commercial Tax Officer (1985) 22 Taxman 11 (Sc). (Ii) M/S Raj Mandir Estates Pvt Ltd Vs Pcit-Iii, Kolkata (Slp No. 22566-22567) Dated 09.01.2017. (Iii) Cit Vs Precision Finance Pvt Ltd., 208 Itr 465(Cal).

68 260A" 8. We have considered the rival contentions, perused the material available on record and have gone though the judgments relied upon by the representatives of both the sides. 9. Succinctly stated, an unsecured loan of Rs. 6,43,00,000/- was taken by the assessee from M/s Kamna Housing Pvt. Ltd. and interest

SHRI ANAND KISHORE BAGREE,RAIPUR vs. INCOME TAX OFFICER , WARD 4(4), RAIPUR

In the result, appeal of the assessee is allowed

Section 260A of the Income Tax Act, 1961. No substantial question of law is involved in this appeal. The appeal and the stay petition, accordingly, shall stand dismissed." b) The JAIPURITAT in the case of VIVEKAGARWAL[ITA No.292/JP/2017]order dated 06.04.2018 held as under vide Page 9 Para 3: "We hold that the addition made