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

5) The parties shall not be entitled to submit any supplementary paper book, except with the leave of the Bench. (6) Documents that are referred to and relied upon by the parties during the course of arguments shall alone be treated as part of the record of the Tribunal. 24 M/s. Purvi Finvest Limited Vs. DCIT, Circle

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

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1(1), RAIPUR vs. MESERSS T.C. BUILDCON PRIVATE LIMITED, RAIPUR

In the result CO filed by the assessee is allowed and the appeal filed by the revenue stands dismissed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am Assistant Commissioner Of Vs M/S. Tc Buildcon Pvt. Ltd. Income Tax, Circle 1(1) Vasudev, B-5, Sector-5, Raipur, (C.G.) Devendra Nagar, Raipur (C.G.) Pan: Aacct4516F Cross Objection No. 26/Rpr/2019 (Arising Out Of Ita No. 173/Rpr/2019) (िनधा"रण वष" / Assessment Year : 2011-12) Assistant Commissioner Of Vs M/S. Tc Buildcon Pvt. Ltd. Income Tax, Circle 1(1) Vasudev, B-5, Sector-5, Raipur, (C.G.) Devendra Nagar, Raipur (C.G.) Pan: Aacct4516F (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" ओर से /Assessee By : Shri Sunil Kumar Agrawal, Ca राज"व क" ओर से /Revenue By : Shri V.K. Singh, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 16-08-2023 घोषणाक" तार"ख/Date : 27-10-2023 Of Pronouncement आदेश / O R D E R Per Arun Khodpia, Am:

68,05,400/-, wherein the share of assessee’s was 50% i.e. Rs. 34,02,700/-. This property was a part of the residential project "Banyan Tree Enclave" at Shankar Nagar, Raipur. The assessee had entered into joint venture on 28.12.2006 with M/s Biltech Engineering Pvt. Ltd. (AACCB2418A) for development of 1.977 Hectares of land situated at Shankar Nagar, Raipur

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 68 as per which the share subscriber in the assessee company should explain the source of funds out of which payment has been made to the assessee. ---Assessee has furnished documents and balance sheet and bank accounts of the three investor companies explaining the source. Fund flow of the three companies having common director was also provided

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1(1), RAIPUR vs. M/S TRIPCO SERVICES PVT. LTD., , RAIPUR

In the result, the appeal of the revenue is partly allowed in terms of our observations above

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.110/Rpr/2020 "नधा"रण वष" / Assessment Year : 2015-16

68 has been amended by Finance Act, 2012 inserting the sub-section 1 that source of source has to be proved in the cases of share application money ? 5. "Whether on the facts of the cases and in law, the CIT(A) is justified in replying on jurisdictional high court order in the case of ACIT Vs Venkateshwar (spat

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

45,320/-. The case was selected for complete scrutiny through CASS. During the assessment proceedings, it was explained before the learned AO that provisions of Sec. 43CA were not applicable as the company had executed an Agreement for sale of shops in earlier year and also received part consideration through banking channel. The above submission was not considered

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

45,320/-. The case was selected for complete scrutiny through CASS. During the assessment proceedings, it was explained before the learned AO that provisions of Sec. 43CA were not applicable as the company had executed an Agreement for sale of shops in earlier year and also received part consideration through banking channel. The above submission was not considered

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)

45 DCIT vs Balajee Loha Pvt. Ltd., Raipur Tribunal by referring to the provisions of Section 253(4) of the Act. The Hon'ble High Court had observed that though the issue as regards the validity of the jurisdiction assumed by the A.O u/s. 153C of the Act was not raised before the CIT(Appeals), but having regard

DURGAWATI PANDAY,BAIKUNTHPUR vs. INCOME TAX OFFICER WARD NO 01, AMBIKAPUR

In the result, appeal of the assessee is allowed

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita No.14/Rpr/2026 "नधा"रण वष" /Assessment Year : 2020-21 Durgawati Panday Ward No.9, Mahalpara, Baikunthpur, Koriya Chhattisgarh-497 335 Pan: Dsipp8404G .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Ward 1, Ambikapur (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

SHRI SHRI NISHANT JAIN,BILASPUR(CG) vs. THE JOINT COMMISSIONER OF INCOME TAX,RANGE-I, BILASPUR(CG)

In the result, appeal of the assessee is partly allowed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita No.199/Rpr/2016 (ननधाारण वषा / Assessment Year :2010-2011) Nishant Jain, Vs Jcit, Range-1, Bilaspur(Cg) M/S Landmark Engineer, Flat No.27, Shantinagar, Ring Road No.2, Bilaspur Pan No. : Agepj 9793 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

5 under Chapter XVII-B and such tax has not been deducted or, after deduction, [has not been paid on or before the due date specified in sub-section (1) of section 139 : Provided that where in respect of any such sum, tax has been deducted in any subsequent year, or has been deducted during the previous year

SHRI VIJAY KUMAR PATEL,RAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME-TAX, RAIPUR-1, RAIPUR

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं. / Ita No: 212/Rpr/2024 ("नधा"रण वष" Assessment Year: 2017-18)

5. After hearing learned counsel for the parties, we find the issue that arises for consideration of this Court in this appeal is could the CIT in exercise of power under Section 263 of the Act hold the order of the Assessing Officer to be erroneous and prejudicial to the interest of the revenue where the Assessing Officer

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

45,75,000/- made by the A.O on account of deemed dividend u/s.2(22)(e) without appreciating the facts/evidences. The addition made by the A.O and confirmed by the Ld. CIT(A) is arbitrary, illegal and not justified. 3 Subramaniam Swaminathan Iyer Vs. DCIT-1(1), Bhilai 5. Ld. CIT(A) erred in confirming the disallowance of Rs.15

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", I have no hesitation to held that the appellant has failed to discharge his onus to prove the creditworthiness of the above lenders.” 6.4. After going through the submissions made before me in support of appellant's contentions, I am of the considerable 8 Sarvesh Bardia Vs. ITO-1, Rajnandgaon opinion that the entire affair of the appellant

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

45,050/- on 20.12.2006, i.e, after more than two months of receipt of advance. It was observed by the CIT (Appeals) that the balance amount of Rs.1,50,080/- (cr.) was thereafter brought forward by the assessee to the succeeding years and was shown as an outstanding liability. Observing that not only the assessee had failed to place on record

SHRI SHRI DEVI CHAND JAIN,KAWARDHA (C.G.) vs. THE INCOME TAX OFFICER, 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

45,050/- on 20.12.2006, i.e, after more than two months of receipt of advance. It was observed by the CIT (Appeals) that the balance amount of Rs.1,50,080/- (cr.) was thereafter brought forward by the assessee to the succeeding years and was shown as an outstanding liability. Observing that not only the assessee had failed to place on record

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) ..

5% for self supervision) comes out as under:- A.Y. Declared by 70% of estimate Different Assessee (Rs.) made 2016-17 53511154 62644484 9133327 2017-18 98628433 115462415 16833982 Thus, the addition made by the AO amounting 10 Rs. 91,33,327/- in AY 2016-17 and Rs. 1,68,33,982/- in AY 20177-18 me Confirmed and the appellant

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) ..

5% for self supervision) comes out as under:- A.Y. Declared by 70% of estimate Different Assessee (Rs.) made 2016-17 53511154 62644484 9133327 2017-18 98628433 115462415 16833982 Thus, the addition made by the AO amounting 10 Rs. 91,33,327/- in AY 2016-17 and Rs. 1,68,33,982/- in AY 20177-18 me Confirmed and the appellant