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

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

JCIT, (OSD), CIRCLE 1(1), RAIPUR, RAIPUR vs. PLATINUM WORLD HOSPITALITY PRIVATE LIMITED, RAIPUR, RAIPUR

In the result appeal filed by the appellant is allowed

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita No.130/Rpr/2026 "नधा"रण वष" /Assessment Year : 2014-15 The Joint Commissioner Of Income Tax (Osd), Circle-1(1), Raipur (C.G.)

68. 5.2 Identity of the Investor The identity of M/s Aravali Highrise Pvt. Ltd. stands clearly established since the entity is a duly incorporated company under the Companies Act, holds a valid PAN, files regular income-tax returns, and has furnished copies of its Certificate of Incorporation, Memorandum and Articles of Association, audited financial statements and bank statements

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-1(1), RAIPUR (CG) vs. M/S VANDANA VIDYUT LIMITED,, RAIPUR (CG)

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.138/Rpr/2017 "नधा"रण वष" / Assessment Year : 2013-14 The Assistant Commissioner Of Income Tax, Circle-1(1), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Vandana Vidyut Limited Vandana Building, M.G Road, Jawahar Nagar, Raipur (C.G.) Pan : Aaacv7850L ……""यथ" / Respondent

section 14A(2) shall also apply in relation to case where any assessee claims that no expenditure has been incurred by him in relation to the income which does not part form part of the total income under this Act, as held in the case of Cheminvest Ltd. Vs ITO (ITAT, SB-Del) 121 ITD 318 and Pradeep

DEPUTY COMMISSIONER O F INCOME TAX, RAIPUR vs. BALAJEE LOHA PVT. LTD., RAIPUR

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं. / Ita No: 356/Rpr/2024 (िनधा"रण वष" Assessment Year: 2014-15)

Section 68 of the Act stood discharged by the Assessee. 25 DCIT vs Balajee Loha Pvt. Ltd., Raipur 7. For the foregoing reasons, we are of the view that the impugned order of the Tribunal has to be set aside, answering the question of law, framed and quoted above, in favour of the Assessee

SIKHA AGRAWAL, RAIGARH,RAIGARH vs. INCOME TAX OFFICER, WARD-1, RAIGARH, RAIGARH

In the result, appeal of the assessee is partly allowed

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita No.235/Rpr/2025 "नधा"रण वष" /Assessment Year : 2019-20 Shikha Agrawal A-9, Ashirbadpuram Colony, Near Dhimrapur Chowk, Raigarh (C.G.)-496 554 Pan: Cjwpa0265J .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Ward-1, Raigarh (C.G) ……""यथ" / Respondent

68 of the Act and the Tribunal was not competent to make the said addition under Section 69-A of the Act, the entire order of the Tribunal stand vitiated in law Accordingly, we answer the question of law, as framed above, in favour of the appellant-assessee and against the Revenue and hold that the Tribunal

SARVESH BARDIA,RAJNANDGAON vs. INCOME TAX OFFICER-1, RAJNANDGAON

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.299/Rpr/2024 "नधा"रण वष" / Assessment Year : 2017-18 Sarvesh Bardia Bardia Niwas, Sadar Bazar, Rajnandgaon (C.G.)-491 441 Pan: Aqbpb3485F .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-1, Rajnandgaon (C.G.) ……""यथ" / Respondent

68 of the Act stood discharged by the Assessee.” Also, the Hon’ble High Court of Delhi in the case of Deputy Commissioner of Income Tax Vs. Rohini Builders, (2002) 256 ITR 360 (Del.), had held, that it is not for the assessee to prove the genuineness of the cash deposits in the bank accounts of the creditors

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)

37 to 42/RPR/2020 (M/s. Shree Jagdamba Constructions Co.) A.Ys. 2009-10 to 2014-15 - 14 - 16.1 The AO on this broad parameters held the nature and source of loan from the lender to be unsatisfactory. The AO accordingly invoked Section 68

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)

37 to 42/RPR/2020 (M/s. Shree Jagdamba Constructions Co.) A.Ys. 2009-10 to 2014-15 - 14 - 16.1 The AO on this broad parameters held the nature and source of loan from the lender to be unsatisfactory. The AO accordingly invoked Section 68

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)

37 to 42/RPR/2020 (M/s. Shree Jagdamba Constructions Co.) A.Ys. 2009-10 to 2014-15 - 14 - 16.1 The AO on this broad parameters held the nature and source of loan from the lender to be unsatisfactory. The AO accordingly invoked Section 68

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)

37 to 42/RPR/2020 (M/s. Shree Jagdamba Constructions Co.) A.Ys. 2009-10 to 2014-15 - 14 - 16.1 The AO on this broad parameters held the nature and source of loan from the lender to be unsatisfactory. The AO accordingly invoked Section 68

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)

37 to 42/RPR/2020 (M/s. Shree Jagdamba Constructions Co.) A.Ys. 2009-10 to 2014-15 - 14 - 16.1 The AO on this broad parameters held the nature and source of loan from the lender to be unsatisfactory. The AO accordingly invoked Section 68

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)

37 to 42/RPR/2020 (M/s. Shree Jagdamba Constructions Co.) A.Ys. 2009-10 to 2014-15 - 14 - 16.1 The AO on this broad parameters held the nature and source of loan from the lender to be unsatisfactory. The AO accordingly invoked Section 68

SUBRAMANIAM SWAMINATHAN IYER, BHILAI,DURG vs. DEPUTY COMMISSIONER OF INCOME TAX-1(1), BHILAI, DURG

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.71/Rpr/2023 "नधा"रण वष" / Assessment Year : 2012-13 Subramaniam Swaminathan Iyer 12-A/7, Nehru Nagar, Bhilai (C.G.)-490 020 Pan: Anwps2381P

section 68 of the I.T. Act, 1961. 5.2. The appellant has submitted that it is the result of transfer entry made by appellant, transferring credit balances appearing in the account of creditors in the books of business concerns, to the capital account of appellant. These transfers have been made in two years: - AY 2011-12 Rs.1

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) ..

section 68 of the IT Act. It is submitted that the transactions were made through proper banking channel, supporting evidences for such banking transactions 18 & CO No.13/RPR/2017 were also submitted to AO, thus, the onus cast upon the assessee u/s 68 was duly discharged. The assessee was unable to submit the confirmations from the parties due to compelling circumstances

INCOME TAX OFFICER (EXEMPTION)-1, RAIPUR vs. SHRI CHAITANY MAHAPRABHU SHIKSHAN SANSTHAN, RAIPUR

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 235/Rpr/2019 "नधा"रण वष" / Assessment Year : 2014-15 The Income Tax Officer, (Exemption)-1, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. Shri Chaitany Mahaprabhu Shikshan Sansthan 2, Jindal Niwas, Ramsagarpara, Raipur(C.G.)-492 001 Pan : Aaits4845F ……""यथ" / Respondent Assessee By : Shri Sunil Kumar Agrawal & Smt. Laxmi Sharma, Cas Revenue By : Shri Sanjay Kumar, Sr. Dr सुनवाई क" तार"ख / Date Of Hearing : 28.07.2022 घोषणा क" तार"ख / Date Of Pronouncement : 09.09.2022

Section 115BBC(3) of the Act. The aforesaid order of the ITAT, Delhi had thereafter been approved by the Hon’ble High Court of Delhi in the case of DIT(E), Delhi Vs. Hans Raj Samarak Society (2013) 35 Taxman 642 (Delhi).” We, thus, in terms of our aforesaid observations concur with the view taken

DILIP CONSTRUCTION COMPANY, BALOD,BALOD vs. DEPUTY COMMISSIONER OF INCOME TAX-1(1), BHILAI, DURG

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

Bench: Shri Ravish Soodआयकर अपील सं./ Ita No.78/Rpr/2023 "नधा"रण वष" / Assessment Year : 2014-15 Dilip Construction Company Main Road, New Market, Dalli Rajhara, Balod (C.G.)-491 228 Pan : Aadfd9426A .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax-1(1), Bhilai (C.G.). ……""यथ" / Respondent

68,621/- 8. June, 2014 21,713/- Total 5,44,519/- After, inter alia, making the addition of the delayed deposit of the employees share of contribution of Rs.5,44,519/- u/s.36(1)(va) r.w.s. 2(24)(x) of the Act, the A.O vide his order passed u/s.143(3) of the Act 4 Dilip Construction Company Vs. DCIT

MESERS METEX ENGINEERS,BHILAI vs. INCOME TAX OFFICER, WARD-1(2), BHILAI

In the result Ground No 8 of the revenue is dismissed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.238/Rpr/2019 (Assessment Year: 2015-2016) M/S Metex Engineers, Vs Ito, Ward-1(2), Bhilai Shop No.10-11, Ganesh Complex, Shakti Vihar, Risali Bhilai, Durg Pan No. :Aawfm 8852 G & आयकर अपील सं./Ita No.247/Rpr/2019 (Assessment Year: 2015-2016) Ito, Ward-1(2), Bhilai Vs M/S Metex Engineers, Shop No.10-11, Ganesh Complex, Shakti Vihar, Risali Bhilai, Durg Pan No. :Aawfm 8852 G (अपीलाथ" /Appellant) (""यथ" / Respondent) .. "नधा"रती क" ओर से /Assessee By : Shri R.B.Doshi, Ca राज"व क" ओर से /Revenue By : Shri V.K.Singh, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 24/04/2023 घोषणा क" तार"ख/Date Of Pronouncement : 14/06/2023 आदेश / O R D E R Per Arun Khodpia, Am :

37 to 80 of the Paper Book. 2.4 Thus the aforesaid liabilities did not cease to exist, in other words, there was no cessation or remission of the aforesaid creditors and therefore, the provisions of Section 41(1) do not apply. 2.5 Reliance is placed on following judicial pronouncements wherein it has been held that no addition