GOPAL SPONGE & POWER PVT. LTD,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAIPUR, RAIPUR

In the result appeal filed by the assessee stands dismissed, in terms of our observations here in above

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am (Ita No. 226/Rpr/2022) (Assessment Year: 2017-18) Gopal Sponge & Power Pvt. Ltd., Vs Assistant Commissioner Of Income Village- Siltara, Near Industrial Tax, Circle-1(1), Raipur, (C.G.) Growth Centre, Phase- 2, Raipur, (C.G.) Pan: Aaccg1525F (अपीलाथ" /Applicant) (""यथ" / Respondent) .. िनधा"रती क" ओर से /Assessee By : Shri B. Subramanyam, Ca राज"व क" ओर से /Revenue By : Shri S.K. Meena, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 02-08-2023 घोषणा क" तार"ख/Date Of Pronouncement : 17-10- 2023

section 263 of IT Act. 6. Ld. PCIT has raised the following issues while exercising the powers conferred upon him u/s 263. On perusal of the case revealed that the following issues: (i) The assessee had only maintained the profit and loss account duly signed by Chartered Accountant in respect of power unit separately, but not maintained the balance

INCOME TAX OFFICER, WARD 2(1), RAIPUR vs. MESERS ARYAN BUILDERS AND DEVELOPERS PRIVATE LIMITED, RAIPUR

In the result, both appeal of the revenue and cross objection of the assessee stand dismissed in terms of our observations

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

section 263 was under challenge whereas in present case, substantial question before the bench is with respect to legality of additions made by the AO with respect to share capital/ premium. Consequently, ratio of the case of M/s Bisakha Sales (P] Ltd. is not applicable in assesse’s present case 4 Hon'ble ITAT, New Delhi (A Bench

M/S POORNACHAND AGRAWAL, BILASPUR,BILASPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, RAIPUR-1, RAIPUR, RAIPUR

In the result, 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. 104/Rpr/2023 "नधा"रण वष" / Assessment Year : 2018-19 M/S. Pooranchand Agrawal C/O. Bagadia Enterprises, Near Shiv Talkies, Bilaspur (C.G.)-495001 Pan : Aaifp8483G

263 is therefore very much in order. Now, coming to the type of case this was, as already stated, the assessee has contended that this was a case of limited scrutiny and that, the points of scrutiny did not cover Unsecured Loans, etc. However, it is interesting to observe here that it is mentioned in the first para of Assessment

SUN AND SUN INFRAMETRIC PVT. LTD.,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, RAIPUR

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri N. K. Choudhryआयकर अपील सं./I.T.A. No.21/Rpr/2021 ("नधा"रण वष" / Assessment Year : 2015-16)

263 of the Income tax Act. The A.O. is directed to make adequate enquiries. 1. Identity, Genuineness and creditworthiness of M/s Gangotri Tracon P. Ltd in respect of receipt of sum of Rs. 16,00,00,000/- in the light of provisions of section 68

ARDENT STEELS PVT. LTD., RAIPUR,RAIPUR vs. PR. COMMISSIONER OF INCOME TAX, RAIPUR-1, RAIPUR

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

Bench: Shri Partha Sarathi Chaudhury, Jm & Shri Arun Khodpia, Am आयकर अपील सं. / Ita No: 337/Rpr/2025 (िनधा"रण वष"Assessment Year: 2020-21)

68 cannot be invoked in the garb of Section 263 as fiscal statute is to be given a strict

SANKET JHABAK, RAIPUR,RAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, RAIPUR, RAIPUR

In the result, all the appeals filed by the captioned assessees are allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpia

section 54B of the Act thereby tacitly accepting the claim of deduction put forward by the co-owners hence, it is most earnestly requested that the same treatment is deservedly required to be extended to the assessee individual and the returned income may please be assessed & accepted as such.” 54. We find that the A.O after considering the aforesaid

SANJOG JHABAK, RAIPUR,RAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, RAIPUR-1, RAIPUR

In the result, all the appeals filed by the captioned assessees are allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpia

section 54B of the Act thereby tacitly accepting the claim of deduction put forward by the co-owners hence, it is most earnestly requested that the same treatment is deservedly required to be extended to the assessee individual and the returned income may please be assessed & accepted as such.” 54. We find that the A.O after considering the aforesaid

SMT. SUSHILA DEVI JHABAK, RAIPUR,RAIPUR vs. PCIT-1, RAIPUR, RAIPUR

In the result, all the appeals filed by the captioned assessees are allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpia

section 54B of the Act thereby tacitly accepting the claim of deduction put forward by the co-owners hence, it is most earnestly requested that the same treatment is deservedly required to be extended to the assessee individual and the returned income may please be assessed & accepted as such.” 54. We find that the A.O after considering the aforesaid

SMT. TILOTTAMA JHABAK, RAIPUR,RAIPUR vs. PCIT-1, RAIPUR, RAIPUR

In the result, all the appeals filed by the captioned assessees are allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpia

section 54B of the Act thereby tacitly accepting the claim of deduction put forward by the co-owners hence, it is most earnestly requested that the same treatment is deservedly required to be extended to the assessee individual and the returned income may please be assessed & accepted as such.” 54. We find that the A.O after considering the aforesaid

SMT. PUSHPA JHABAK, RAIPUR,RAIPUR vs. PCIT-1, RAIPUR, RAIPUR

In the result, all the appeals filed by the captioned assessees are allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpia

section 54B of the Act thereby tacitly accepting the claim of deduction put forward by the co-owners hence, it is most earnestly requested that the same treatment is deservedly required to be extended to the assessee individual and the returned income may please be assessed & accepted as such.” 54. We find that the A.O after considering the aforesaid

SAMPAT LAL JHABAK, RAIPUR,RAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, RAIPUR, RAIPUR

In the result, all the appeals filed by the captioned assessees are allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpia

section 54B of the Act thereby tacitly accepting the claim of deduction put forward by the co-owners hence, it is most earnestly requested that the same treatment is deservedly required to be extended to the assessee individual and the returned income may please be assessed & accepted as such.” 54. We find that the A.O after considering the aforesaid

SANJOG JHABAK L/H OF LATE GAUTAM CHAND JHABAK, RAIPUR,RAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, RAIPUR-1, RAIPUR

In the result, all the appeals filed by the captioned assessees are allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpia

section 54B of the Act thereby tacitly accepting the claim of deduction put forward by the co-owners hence, it is most earnestly requested that the same treatment is deservedly required to be extended to the assessee individual and the returned income may please be assessed & accepted as such.” 54. We find that the A.O after considering the aforesaid

SUN AND SUN INFRAMETRIC PVT. LTD.,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, RAIPUR

In the result, the appeal of the assessee is partly allowed

Bench: Shri Pradip Kumar Kedia & Shri N. K. Choudhryआयकर अपील सं./I.T.A. No.22/Rpr/2021 ("नधा"रण वष" / Assessment Year : 2016-17)

263 of the Income-tax Act. The AO is directed to make adequate enquiries. 1. Identity, genuineness and creditworthiness of M/s. Gangotri Tracon P. Ltd in respect of receipt of sum of Rs.18,12,00,000/- in the light of provisions of section 68

TOUCHSTONE SERVICE PVT. LTD.,RAJNANDGAON vs. PRINCIPAL COMMISSIONER OF INCOME TAX, RAIPUR-1, RAIPUR

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

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.69/Rpr/2022 िनधा"रण वष" /Assessment Year: 2017-18 Touchstone Service Pvt. Ltd. Vs The Pr. Commissioner Of Income Tax, Mangal Deep, G.E. Road, Raipur-1. Rajnandgaon (C.G.)-491 441 Pan: Aacct6932F (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" ओर से /Assessee By : Shri R.B Doshi, Ca राज"व क" ओर से /Revenue By : Shri Debashis Lahiri, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 04/09/2023 घोषणा क" तार"ख/Date Of Pronouncement : 18/10/2023 आदेश / O R D E R Per Arun Khodpia, Am :

68 of the Act., therefore, the same required to be revisited and the Pr. CIT had rightly triggered the provisions of Section 263

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

263 of the Act on a non-est order is required to be set aside at the threshold. 6.1. Without prejudice, it was contended that the PCIT has wrongly remanded the matter to the file of the A.O. perfunctorily for making enquiry to pass fresh order on certain points. Before doing so, the PCIT ought to have carried out some

MARUTI CLEAN COAL AND POWER LTD.,RAIPUR vs. PR. COMMISIONER INCOME TAX-1, RAIPUR

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 55/Rpr/2021 "नधा"रण वष" / Assessment Year : 2011-12 Maruti Clean Coal & Power Ltd. Ward No.42, Building No.14, Civil Lines, Near Income Tax Colony, Chhattisgarh-492 001. Pan : Aadcm4810C .......अपीलाथ" / Appellant बनाम / V/S. The Pr. Commissioner Of Income Tax-1, Raipur (C.G.) ……""यथ" / Respondent Assessee By :Shri Salil Kapoor, Ms. Ananya Kapoor & Ms. Soumya Singh, Advocates. Revenue By :Shri P. K Mishra, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 05.08.2022 घोषणा क" तार"ख / Date Of Pronouncement : 31.10.2022

Section 68 of the Act. 7. The assessee being aggrieved with the order passed by the Pr. CIT u/s. 263

M/S. PRACHI AGRICULTURE & PROPERTIES PVT. LTD.,RAIPUR vs. PR. CIT-1, RAIPUR

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita No. : 30/Rpr/2021 कर धििाारण वर्ा / Assessment Year : 2016-2017 M/S Prachi Agriculture & Properties Private Limited 18-19, Anupam Nagar, Raipur (Cg) 492 001 Pan : Aabcp 3701 H . . . . . . . . अपीलार्थी / Appellant बिाम / V/S Pr. Commissioner Of Income Tax-1, Central Revenue Building, Civil Lines, Raipur . . . . . . . प्रत्यर्थी / Respondent द्वारा / Appearances Assessee By : Shri Nikhilesh Begani Revenue By : Shri P. K. Mishra सुनवाई की तारीख / Date Of Conclusive Hearing : 10/02/2022 घोषणा की तारीख / Date Of Pronouncement : 21/04/2022 आदेश / Order Per Jamlappa D Battull, Am; Against The Revisionary Order Of Principal Of Commissioner Of Income Tax, Raipur-1 [For Short “Pcit”] Passed U/S 263 Of The Income-Tax Act, 1961 [For Short “The Act”] Vide Order Dt 26/03/2021, For The Assessment Year [For Short “Ay”] 2016-2017, The Appellant Assessee Filed This Appeal Before Income Tax Appellate Tribunal [For Short “The Tribunal”] U/S 253(1) Of The Act.

section 68 of the Act. 7. During the course of hearing, in support of contention, the Ld. AR taken us through relevant pages of paper book to impress that, the action of revisionary action wasn’t warranted and placing reliance on judicial precedents supported the grounds raised, per contra, the Ld. departmental representative [for short “DR”] supported 263

SARITA KONDA,BHILAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX, RAIPUR-1, RAIPUR

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 62/Rpr/2022 "नधा"रण वष" / Assessment Year : 2017-18 Sarita Konda Street No.09, Kohka Road, Shanti Nagar, Bhilai (C.G.) Pan : Aukps1814J .......अपीलाथ" / Appellant बनाम / V/S. The Pr. Commissioner Of Income Tax, Raipur-1 (C.G.) ……""यथ" / Respondent

Section 263 and in setting aside the assessment order for fresh enquiry. Order passed u/s.263 is unsustainable and is passed without properly appreciating the facts and evidences on record. The assessment order is neither erroneous nor prejudicial to the interest of revenue. 2. The appellant reserves the right to add, amend or alter any of the ground/s of appeal