TaxTMI 
TaxTMI 
2025 (5) TMI 494
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.... on the count of excess stock of 'Sponge Iron' (i.e., finished goods) computed by the Id AO; when it is not actually weighed by search team; which is on the basis of 'volume' taken randomly by the DVO at 923.700 on sampling method in place of correct volume of 644.361 ; books of account has not been rejected; alleged presumptive addition is invalid, unjustified in absence of any independent corroborative material evidence brought on record for suppressed production of the alleged finished goods, is liable to be deleted." 2. On the facts and circumstances of the case and in law, the Id CIT(A) has erred in sustaining addition of Rs. 14,90,856 on the count of excess stock of 'Iron Ore' (i.e., raw material) computed by the Id AO; when it is not actually weighed by search team; which is on the basis of 'volume' taken randomly by the DVO at 3,031.630 without giving any working for such wild estimation on sampling method in place of correct volume of 2,520.109; books of account has not been rejected; alleged presumptive addition is invalid, unjustified in absence of any independent corroborative material evidence brought on record for unaccounted p....
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.... 6. "On the facts and circumstances of the se and in law, the Id CIT(A) has erred in not quashing the search assessment u/s 143(3) r.w.s. 153A for the search year, since the approval granted u/s153D as there is no application of mind on the part of the Jt.CIT and it has granted in a mechanical and hasty manner, merely a formality, an empty ritual; no satisfaction has been recorded by the Jt.CIT; all the responsibilities & duties has been shifted to the Id AO; the Id AO has power to act/ alter/ add/ amend as he thinks fit in the alleged 'assessment order'; in absence of a valid approval as mandated u/s153D as per sec 153B(l )(b), the alleged search assessment u/sl 43(3) rws 153A be treated as invalid, non-est, null & void-ab-initio and is liable to be quashed." ITA No. 08/RPR/2021 (Department's Appeal) 1. "On the facts and in the circumstances of the case, the Ld. CIT(A) has erred in law in deleting the addition partly on account of excess stock, rejecting the valuation report of the registered valuer which was prepared on the basis of valuation done during the course of search, and that CIT(A) relied upon the valuation report of a valuer appointed by the ....
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....w, addition made of Rs. 31,75,448 by the AO on account of alleged excess 'Iron Ore' is unjustified; addition merely on estimation of income on alleged unaccounted purchases of 'Iron Ore' (i.e., raw material); books of account not been rejected; sec145(3) not been applied; assessment made u/s143(3); without rejecting books of account & without making assessment u/s144, estimation of income is not permissible in the eyes of law, is liable to be deleted." 4. The brief facts of the case are that, a search & seizure action u/s 132 of the Act was conducted in the business and residential premises of M/s NR group of cases along with assessee's premises on 24.10.2017. Consequently, notice u/s 153A of the Act was issued, in response to the said notice, assessee company has filed its return of income for the AY 2008-09 to 2017-18 on 05.12.2019. However, the regular return for the AY 2018-19 was filed on 06.10.2018, declaring total income at Rs. NIL. In due course of proceedings, detailed questionnaire along with notice u/s 142(1) and notice u/s 143(2) for the AY 2012-13 to 2018-19 were issued through email. Subsequently, statement of Shri Rajesh Agrawal, Director of th....
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....d by the assessee, it is found that some items are excess and some items are in short. Which are as under - Excess SI. No. ITEMS Valuation as per report of Valuer as on 27/10/2017) Stock as per books of Account of the assessee (Closing Balance as on 27/10/2017 Difference QTY. IN M.T. RATE PMT VALUE QTY. IN M.T. RATE PMT VALUE 1 Sponge Iron 2275.073 15500 35263632 1399.042 11200 15669270 19594361 3 Iron Ore 7651.834 4000 30607336 5303.13 1352 7169832 23437504 4 Iron Ore Fines 6713.196 2000 13426392 5192.084 775 4023865 9402527 Total 79297360 26862967 52434392 Shortage SI. No. ITEMS Valuation as per report of Valuer as on 27/10/2017) Stock as per books of Account of the assessee (Closing Balance as on 27/10/2017 Difference QTY. IN M.T. RATE PMT VALUE QTY. IN M.T. RATE PMT VALUE 2 Ash Char 9167.049 2000 18334098 9306.836 100 930683 17403414 5 Coal 3804.941 3000 11414823 5201.081 2182 11348758 66064 ....
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....ALUE 1 Sponge Iron 2275.073 11200 25480818 1399.042 11200 15669270 9811547 3 Iron Ore 7651.834 1352 10345280 5303.13 1352 7169832 3175448 4 Iron Ore Fines 6713.196 775 5202727 5192.084 775 4023865 1178862 Total 41028824 26862967 14165857 Shortage SI. No. ITEMS Valuation as per report of Valuer as on 27/10/2017) Stock as per books of Account of the assessee (Closing Balance as on 27/10/2017 Difference QTY. IN M.T. RATE PMT VALUE QTY. IN M.T. RATE PMT VALUE 2 Ash Char 9167.049 100 916704.9 9306.836 100 930684 -13979 5 Coal 3804.941 2182 8302381.3 5201.081 2182 11348759 -3046377 Total 9219086 12279442 -3060356 Accordingly the excess of stock found during the course of search action is treated as unexplained investment amounting to Rs. 1,41,65,857/- is added back to the total income of the assessee. Similarly the GP at 5.50% based on the last three years' average is adopted for the shortage of stock. The value so arr....
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....sp; 3320000 3320000 Total 891157 13744100 15210229 29845486 During the course of search assessment, the assessee was asked explain the nature of transaction, source of fund and reconcile it with its books of accounts along with supporting documentary evidences. Further the assessee was requested to explain as to why in the absence of documentary evidences and proper explanation, amount mentioned above should not be added to its total income for the A.Y 2016-17, 2017-18 and 2018-19 as unexplained expenditure. In reply the counsel of the assessee has submitted that out of above transaction Rs. 49,55,206/- are recorded in books of account, which are verified during the search assessment and other transactions are the rough jotting prepared by the employees of the assessee company during the normal course of the business and also contains the budgetary estimates for the purpose of planning, thus, it does not have any financial impact on the books of accounts prepared by the assessee. The rough jottings are unsigned, do not bear any name and not even suggesting whether the assessee has received the payments or made the payments, hence, does not hav....
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.... the then A.O., I am also in agreement with the findings of the A.O. In order to keep the issue alive in the matter, additions made on earlier occasion is hereby sustained. In view of the above discussion, addition of Rs. 245904/- is made to the total income for the A.Y-2010-11. Since the assessee had concealed its income and furnished inaccurate particulars of income, penalty proceedings u/s 271(1)(c) of the Act are also initiated for the A.Y 2010-11. 8. In view of the discussion made in the preceding paras, the income of the assessee firm for A.Ys. 2008-09 to 2018-19 is assessed as under :- 7. Aggrieved with the aforesaid total additions of Rs. 1,60,41,762/- (Rs. 1,41,65,857/- on account of excess stock + Rs. 30,60,356/- on account of shortage of stock and Rs. 17,07,585/- being 15% of Rs. 1,13,83,903/- estimated on account of unexplained expenditure), the assessee preferred an appeal before the First Appellate Authority, wherein the contentions of the assessee are discussed and deliberated at length by the Ld. CIT(A) and have partly allowed the appeal of the assessee. 8. Ld. CIT(A) have partly deleted the addition qua the difference in stock for Rs. 1,44,65,851/- m....
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....ck as per books of Account of the assessee (Closing Balance as on 27.10.2017 Difference QTY. IN M.T. RATE PMT VALUE QTY. IN M.T. RATE PMT VALUE 1 Sponge Iron 2275.073 11200 25480818 1399.042 11200 15669270 9811547 2 Iron Ore 7651.834 1352 10345280 5303.13 1352 7169832 3175448 2 Iron Ore Fines 6713.196 775 13426392 5192.084 775 4023665 1178862 Total 41028824 26862967 14165857 4.5.2 The appellant before me as well as before AO has taken a plea that the valuer appointed by ADIT(Inv), Bilaspur has not done any actual weightment of stock. M/s FLCPL has adopted volumetric method by applying density method and the stock items were prepared on sampling method. The appellant after receipt of valuation report filed detailed objections along with report of M/s RVCPL. The appellant has claimed that the valuation report prepared by M/s RVCPL was done on actual weight of stock. The AO has accepted rates adopted by M/s RVCPL, however, has not adopted density of stock of appellant. The density of stock item is key factor for determining actual sto....
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....was not justified." 4.5.3 Further, Hon'ble Indore ITAT in the case of Sayyed Hamid Ali (2020) 205 TTJ 453 (Indere-Trib) has held that it was the duty of search team to get the actual weighment of stock found during the course of search operation, which was not done; that no other incriminating material was found during the course of search relating to unaccounted stock, excess physical stock was calculated by Revenue authority on estimative and presumptive basis. The relevant extract of the decision is as under :- "4. During the assessment proceedings it was explained by the assessee about the excess stock of Rs.1,17,00,000 being difference between the stock found in the books of accounts on the date of survey i.e., 12-7-11 stating that after obtaining the stock valuation sheet from the Deptt, it was found by the assessee that excessive stock was got declared, without weighment of the quantity lying in the heaps (lots, masses) at the premises of the assessee. On the date of survey, stock inventories by the survey team was quantified at 617.183 MT, whereas as per books of accounts only stock of 85.433 MT was found. Therefore, difference of 531.750 MT w....
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.... operation no loading and unloading of material was done, which was must for correct weighment of stock. Moreover, no truck was used for the weighment purpose, during the course of survey and no truck wise weighment slips were prepared, which is evident from the inventory prepared. 14. We observe that there certainly seems merit in the contention of the ld counsel for the assessee to the extent that the area of land available with the assessee to store the scrap was only 6,000 sq. ft. survey team have mentioned the quantity in the form of number of Trucks. There is no iota of evidence to show that the goods were loaded in a truck before weighment. It is also not practically possible to huge stock of 671.83 MT on 6,000 Sq.ft. area, that too without stacking. Even some stock from sister concern M/s.Saif Enterprises, weighing 30.767 MT was also lying, at the very same premise which has been recorded by the Revenue team. Apart from the physical stock which has been computed in the above referred table no other incriminating material was found such as the undisclosed bank statement unrecorded purchase, sale bills or unrecorded vouchers. ....
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....lume of container Length Width Height Volume Unit 2.4 2.4 3.2 18.4320 Cumm Volume 0.0184 Cum A. Iron Ore S. No. Location Detailed calculation Weight Unit 1. Near Ground Hopper Container gross wt. 39.670 KG Container tare wt. 0.790 KG Net wt. = gross wt. - tare wt. 38.880 KG Net wt. 0.0389 MT Bulk density = wt./vol.(0.0389/0.0184) 2.113. B. Iron Ore Fines 1. Near Ground Hopper Container gross wt. 34.430 KG Container tare wt. 0.790 KG Net wt. = gross wt. - tare wt. 33.640 KG Net wt. 0.034 MT Bulk density = wt./vol.(0.034/0.0184) 1.828 C. Coal 1. Near Ground Hopper Container gross wt. 19.412 KG Container tare wt. 0.790 KG Net wt. = gross wt. - tare wt. 18.662 KG Net wt. 0.019 MT Bulk density = wt./vol.(0.019/0.0184) 1.012 D. Charcoal 1. Near Ground Hopper Container gross wt. 22.710 KG Container tare wt. 0.790 KG Net wt. = gross wt. - tare wt. 21.920 KG Net wt. 0.022 MT Bulk density = wt./vol.(....
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....entioned on loose papers BS-I & BS-2 are rough jottings and transactions mentioned on loose papers BS-4 of Rs. 33,20,000/represents payments made to M/S Maa Bhawani Transport for transportation of coal and are fully recorded in books of accounts. The AO after considering reply of the assessee made ad-hoc disallowance of 15% of the said expenditure on account of unexplained expenditure u/s 69C of the Act. 4.3.2 In view of the cited judicial pronouncements the AO was not justified in making ad-hoc addition in the hands of appellant. Thus, the addition made by the AO amounting to Rs. 17,09,585/- is Deleted. Therefore, the appeal on these grounds is Allowed for statistical purpose. 10. Ld. CIT(A) have also decided the issue regarding profit of shortage of stock for Rs. 1,68,320/- by confirming the same against the assessee, the observations therein are as under: 4.6 Ground No. 2 and 12 :- Through these grounds of appeal the appellant has challenged the addition of Rs. 1,68,320/- on account of shortage of stock. During the course of search operation, physical inventory of raw material, finished goods, spare parts and consumable items were prepared and the same was g....
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....ated 30.12.2019 granted by the Joint Commissioner of Income Tax, (Central), Raipur. For the sake of clarity and interpretation, the impugned approval so granted by the Joint Commissioner of Income is extracted as under: 13. While challenging the validity of approval, Ld. AR of the assessee had submitted written synopsis stating as under: To 8-10-2024 The Hon'ble Members, Income-tax Appellate Tribunal, 'DB' Bench, Raipur Respected Sirs, Sub: Appeal filed by the Department in the case of NRVS Steels Ltd being ITA No. 8/Raipur/2021 and assessee's appeal being ITA No. 5/Raipur/ 2021 for AY 18-19 heard on 8-10-2024. Re: Brief synopsis of assessee's arguments. 1. On behalf of our above-mentio....
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....of the Chandigarh Bench of the Hon'ble Tribunal in the case of ITO v. Bhupindra Food and Malt Industries [30 taxman (Mag) 169] 4. Without prejudice to the above, it is submitted that the approval u/s153D of the Act has to be in respect of assessment order which would necessarily mean assessment order containing computation of total income as well as computation of tax and interest. In this regard, reliance is place upon the decision of the Delhi Bench of the Tribunal in the case of B.P. Singh v. DCIT (68 ITD 492) as well as decision of the Hon'ble Supreme Court in the Kalyankumar Ray v CIT (191 ITR 634). 14. Adverting to the aforesaid multifold contentions, challenging the legality of the approval u/s 153D, the first controversy raised by the Ld. AR is that, the request letter submitted by the Ld. AO to the Ld. JCIT, Range- Central, Raipur vide F. No. DCIT(C)-2 / RPR / Search assessment / 2019-20 dated 26.12.2019 and dated 28.12.2019 were disposed of by granting an approval on 30.12.2019 vide F. No. JCIT(C)/RPR/153D/2019-20/348, under the presumption that the draft assessment orders are framed by the Assessing Officer (i) after giving proper opportunity of heari....
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....ct, tantamount of representation of facts, the sanctioned obtained was not in accordance with law. (ii) ITO vs Bhupindra Food and Malt Industries (1987) 30 taxman 169 (Chd) (Mag), wherein the coordinate bench of ITAT, Chandigarh have on the issue of sanction u/s 151(1) granted by the board have observed that in case the reasons projected a wrong set of facts, the sanction will be illegal. 16. The aforesaid observations of the ITAT are further fortified by the Hon'ble High Court of Himanchal Pradesh in their judgment, reported in [1998]229ITR496(HP), Bhupindra Food and Malt Industries vs Commissioner of Income-Tax on 1 May, 1997, wherein the observations of Hon'ble High Court are as under: 7. When the proceedings were sought to be initiated again for assessment on the footing that there was an association of persons, sanction of the Board was obtained by the Income-tax Officer under Section 151(1) of the Income-tax Act. The reasons were set out by the Income-tax Officer that there was an association of persons and it should be proceeded against for assessment of the income-tax. The Board had granted that sanction, but it is found by the Tribunal that when the ....
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....1; IT(SS)A No. 639 to 641/Lkw/2019, AY 2015-16 to 17-18 (ii) PCIT v. Smt Shreelekha Damani (2019) 307 CTR 218 (Bom HC) dt. 27- 11-18; ITA No. 668 of 2016 Smt. Shreelekha Damani v. DCIT (2015) 173 TTJ 332 (Mum-Trib) dt. 19-8-15; ITA No. 4061/Mum/2012; AY 07-08 (iii) Akshata Realtors P Ltd v. ACIT (2023) (Raipur-Trib) dt. 27-3-23; IT(SS)A No. 9/RPR/2018; AY 13-14 (iv) Goyal Energy & Steel P Ltd v. ACIT (2023) (Raipur-Trib) dt. 27-3-23; ITA No. 244, 245/RPR/2019, AY 16-17 & 17-18 (v) MDLR Hotels P Ltd v. DCIT (2023) (Del-Trib) dt. 08-2-23; ITA No. 3076/Del/2016, CO 264/Del/2016, AY 08-09; relied on PCIT v. Siddarth Gupta (2023) 330 CTR 295 (Allahabad HC) dt. 12-12-22; (vi) Rishabh Buildwell P Ltd v. DCIT(2019) (Del-Trib) dt. 4-7-19; ITA No. 2122/Del/2018, AY12-13 (vii) Dilip Constructions (P) Ltd v. ACIT (2020) 203 TTJ 422 (Cuttack-Trib) dt. 29.11.19; IT(SS)A No. 66 to 71 & 292/Ctk/2018; AY 10-11 to 16-17 (viii) Anuj Bansal v. ACIT(2022)(Del-Trib) dt. 29-4-22; ITA No. 1016/Del/2021, AY 17-18 19. Backed by aforesaid submissions, it was the prayer by Ld. AR that the approval granted u/s 153D by the Ld. JCIT was illegal, b....
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....ome Tax (Central Range ), Raipur for approval, two more letters dated 27.12.2019 were issued to the assessee asking to make compliance on the same on or before 27.12.2019(5PM)/28.12.2019 (2PM). It was the argument of the Ld AR that as the assessment proceeding were still going on after 26.12.2019 whether any revised / Fresh draft assessment order were submitted by the AO on or after 28.12.2019. Approval in terms of the provisions of Section 153D of the Act 7. The approval by the Joint CIT, Central, Raipur, has not been granted on the same/very next day of submission of draft assessment order and JCIT has granted approval proper application of mind without any hasty manner. In the letter approving the draft assessment order, it is mentioned that "Further, in view of this office letter No. JCIT(C)/RPR/153D/2016-17 dated 09.09.2016 it is presumed that the AO has • "Given proper opportunity of hearing has been given to the assessee • Thoroughly verified the seized material and that there are no adverse findings • Satisfied himself that all the issues emanating from the records have been verified and the additions whereve....
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.... in a particular manner only u/s 144A of I T Act, which has not been invoked in this case. Both provisions u/s 153D and u/s 144A operate in different domains and are for different purposes, which further strengthens the position of law that 153D approval is only administrative in nature intended to ensure that there was no jurisdictional error or illegality or violation of principles of natural justice and that the procedural requirements are duly met before the assessment order is passed by AO. 12. In the Sahara Credit Cooperative IT(SS)A No. 09/RPR/2018 23 Society Ltd. Vs. DCIT/ACIT (supra) adjudicated by Hon'ble Allahabad High Court as . this case discusses about the communication of approval in whatever mode. On the other hand, in the instant case, approval was granted by Ld JCIT(central) Raipur not only in written mode but also in oral mode from time to time. 13. In the realm of administrative approval as contemplated u/s 153D, the preliminary satisfaction of Range Head requires only to the extent that the AO has looked into all seized material and has given opportunity to assessee by confronting the evidences and the additions proposed are based on one o....
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....d that a proceeding is a nullity when the authority taking it has no power to have seize in over the case. The omission of the assessing officer, in the present case, to confront the assessees with the material in his possession does not affect the ab initio jurisdiction enjoyed by the assessing officer in respect of the above proceedings. 17. Courts have even approved the service of notices / orders through emails or even social media such as WhatsApp etc. Hence, there can be no specific requirement for Range Head also to be physically present at the station where assessment records are physically available to be able to apply his / her mind on relevant material before granting the approval u/s 153D to the draft assessment order proposed by the AO. It is also not the case that the supervisory authority comes to know of the facts / details of assessment proceedings in any case only at the time when it receives the draft order from AO seeking approval u/s 153D. The entire process of monitoring is a continuous process even before the receipt of draft order seeking the final approval u/s 153D. This aspect has indeed been emphasized in the approval in the present case....
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.... Appeal Nos. 7319-7320 of 2019). 23. In this case the AO has issued letter dated 15-10-2019 with detailed questionnaire to the assessee asking him to submit his reply by 25-10-2019. In the letter, the AO has asked the assessee regarding the stock difference found during the search proceeding. The assessee has submitted its reply on 13-12-2019 where he had raised his objection regarding the valuation of stock. 24. On 27-12-2019 Frontline Consultation Pvt Ltd has submitted its report on "Valuation of Plant & Machinery and determination of quantity, Value of inventories, at different location in the case of NR TMT (INDIA) Pvt Ltd and NR Ispat & Power Pvt Ltd." Dated 27-12-2019. (Copy of the forwarding letter is enclosed) in response to the letter issued by the AO on 17-12-2019 (Copy enclosed). In the said letter Frontline Consultation Pvt Ltd has mentioned the following in the last para " the objection raised by the party for certain things has nothing but to linger on the proceedings which has no merit there in. our previous valuation report had been widely discussed and correct to the best of our knowledge and belief." 25. As there is no change in....
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....ation mind in a hasty manner. The contention of the assessee qua the objections dated 13.12.2019, raised regarding valuation of plant and machinery and determination of quantity, value of inventory, are disposed of by the valuer M/s FCPL vide their communication dated. 28.12.2019, since there was no change in valuation report as per the letter of FCPL, the report was put up before the Ld. JCIT but was not confronted to the assessee. It is submitted that in another case of the same group, the opportunity was afforded to the assessee by way of a show cause dated 27.12.2019 in the case of M/s NRTMT (India) (Pvt. Ltd.), to furnish explanation / clarification on the same day i.e., 27.12.2019 without wasting any time as the case was going to be time barred on 31.12.2019. It was the submission that there was no report of FCPL at the time when the draft assessment order was sent for approval to the range head. It is further submitted that the assessee had submitted a reply on 27.12.2019 in the case of NRTMT, accordingly, a revised draft order has been put up before the JCIT on 30.12.2019, and approval was granted on the same day, considering all the facts brought on record, with proper app....
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....spat & Power Pvt. Ltd. and NR TMT (India) Pvt. Ltd., for the assessee NRVS Steel Ltd. it is stated that the communication seeking approval on draft assessment was made on 28.12.2019, though copy of such communication could not be furnished before us. It is to be noted the communication by the valuer i.e., M/s FCPL dated 28.12.2019, in the form of a report to dispose of the objections raised by the assessee qua the valuation of stock vide its reply dated 13.12.2019, was also submitted to the sanctioning authority for consideration. As clarified by the then Ld. AO (Joined virtually) that the communication received from FCPL dated 28.12.2019 (extracted supra), was just for clarification that the valuation was completed in presence of the authorized representative of the assessee company to witness as well as the income tax authorities, during the process of valuation all the objections raised by the assessee were taken care of, therefore, the objections raised by the assessee on certain issues is nothing but to linger on the proceedings which has no merit therein. The valuation officer i.e., FCPL had strongly relied on the valuation report submitted previously, therefore, there was no....
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....unicated to the assessee for its comments, and furthermore such mistake / lapse could not be perceived / comprehended or slipped the attention of the sanctioning authority, is nothing short of non- application of mind or approval in routine manner. 24. We, thus, respectfully following the various judicial pronouncements (refer to supra), considering the facts and circumstances of the present case wherein Hon'ble Courts have held that the approval granted mechanically, without application of mind has no standing in the eyes of law, therefore, the consequential assessment, following such invalid and non-est approval u/s 153D is void ab initio, thus, liable to be quashed due to non-satisfaction of mandate of law u/s 153D. Consequently, the legal ground raised by the assessee challenging the validity of approval u/s 153D of the Act, is allowed in terms of our observations. 25. Since the impugned assessment for the AY 2018-19, u/s 153A r.w.s. 143B dated 30.12.2019, which is under consideration before us in ITA No. 5/RPR/2021, has been rendered as bad in law and quashed by us on account of invalid sanction u/s 153D, therefore, the other grounds raising the legal issues or issue....
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....jay Sawhney (2020) 316 CTR 392 (Del HC); NTPC Ltd (1999) (SC); Ingram Micro (I) Exports (P) Ltd (2015) (Bom HC); Mavany Brothers (2015) (Bom HC). Yours faithfully NRVS STEELS LIMITED 20 (Vijay Kumar Agrawal) Director of the assesses feta Document 4 78 asrafarat आयकर à¤à¤ªà¤¾à¤à¥à¤‚संत (केनà¥à¤¦à¥à¤°à¥€à¤¯-2) Office of the Joint Commissioner of Income tax, Range Central, Aayakar Bhawan, Civil Lines, Raipur (CG) 101 6FF. 2019 Email:raipur.add][email protected] Ph.& Fax 0771-2331044 Dated:30:12:2019:0g (D.T.) 502 F.No. JCIT(C)/RPR/153D/2019-20/348 The Dy. Commissioner of Income tax (Central)-2, Raipur Anihamos Subject - Approval u/s 153D of the I.T. Act -N. R. and Indermani Groups - Regarding. Please refer to your letters in F.No. DCIT(C)-2/RPR/Search assessment/2019-20 dated 26.12.2019 and dated 28.12.2019. 2. The draft assessment orders u/s 153D and 143(3) in the following cases submitted vide above mentioned letter are hereby approved u/s 153D of the I.T. Act S.No. Name of the assessce PAN AY 1 N.R. Ispat & Power Pvt. Ltd. AACCN6591Q 20....
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....t is submitted that the deponent has merely confirmed the fact that the measurement has been done in his presence. This cannot be construed as admission, more particularly so, when the assessee submitted registered value report dated 7-11-2017 immediately upon receiving the DVO report dated 6-11-2017. In any case, no evidence of any cash purchasehas been found nor the regularly maintained books of accounts have been rejected by the Assessing Officer before making the addition. Thanking you, Yours faithfully CA Sunil Kumar Agrawal Counsel for the assessce-Co cc. Departmental Representative, ITAT, 'DB' Bench, Raipur Document 6 CIN-U74140CT1592PTC00695744 First Floor Mahavir Gaushala Complex, Maudhapara, Raipur-492001 (C.G.) Email: [email protected] GST No .: 22AAACF5987E1ZP Tel: 0771-2884563 9669623655 9522220395 9425206546 KONTLINE PROVED VALUJER FOR: - Allahbad Bank, Bank of india, Bank of Baroda, Bank of Maharastra, Central Bank of India, Chhattisgarh Rajya Gramin Bank, Dena Bank DCB Bank Limited, Hudco tad., IDat Bank, IFCI, Karnataka Bank, Oriental Bank of Commerce (Through Director), Punjab and Sind Bank, RAIPUR Devet - opment Authority, SIDBI, Stresse....
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....No., 221/222, Shivnath Complex, Chauhan Estate, Near Maurya Talkies, G.E. Roud, Supela, Bhilai, Durg CC Document 7 DOH 30/8/09 e AC 2/8/14 Govt. of India Ministry of Finance : Deptt. Of Revenue OFFICE OF THE COMMISSIONER OF INCOME TAX, ITAT B &C Wing, 5th floor, Central Secretariat Building Sector-24 Atal Nagar, Naya Raipur (CG) e-mail: [email protected] F. No. CIT-ITAT/RPR/Sub./2023-24 Dtd :- 29/08/2024 To The Assistant Registrar, ITAT, Raipur. Subject: Submission of report received from AO -. reg- Kindly refer to above. Appeal No. Name of the Assesse PAN A.Y. ITA 3/RPR/2021 M/s NRTMT (INDIA) Pvt. Ltd 2018-19 ITA 9/RPR/2021 -do- 2018-19 ITA 5/RPR/2021 M/s NRVS Steels Limited 2018-19 ITA 8/RPR/2021 -do- 2018-19 M/s NRVS Steels Limited 2. As directed by the Hon'ble Bench of ITAT, Raipur, kindly find enclosed herewith the submission(s)/Reports made by the AO in the above cases. Encl :- As above (S. L. ANURAGI) Commissioner of Income Tax(DR) ITAT, Raipur Copy to the Authorized representative of the assessee(s) alongwith enclosures as above. Commissioner of Income Tax(DR) ITAT, Raipur वà¤....
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....td. (PAN: AAHCS4369L) for A.Y.2018-19 have been received. Further, vide mail dated 23.08.2024, draft assessment orders dated 26.12.2019 & dated 30.12.2019 in the case of M/s NR TMT (India) Pvt. Ltd. for A.Ys.2012-13 to 2018-19 and vide mail dated 27.08.2024, draft assessment order dated 28.12.2019 in the case of M/s NRVS Steels Ltd. for A.Ys.2008-09 to 2018-19 have been received from ACIT, Central Circle, Bilaspur. The same are being forwarded on mail for your kind perusal and needful (copy of email enclosed). Yours faithfully, 127/8/24 Encl. as above (Bipin Kr Ahirwar) Addl. Commissioner of Income Tax, Range Central, Raipur(C.G.) Document 9 Subject: Fwd: Furnishing the copies of draft assessment orders and copies of covering letter sent to the Joint Commissioner of income Tax for approval uis 153D of the I.T. Act, 1961 Part-1-reg To: Raipur adolcit.itat Date: 06/27/24 07:11 PM From: "Yaipur.addicit.cen" «[email protected]> DFA-30.12.2019-NR TMT (india) PVL. Ltd. (1).pdf (7.0MB) NRTMT.pdf (5.3MB) Si Kindly find attachments received from ACIT, Central Circle, Bilaspur for your kind perusal and needful. Regards, Bilpin Kumar Ahirw....
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.... for approval uls 153D of the I.T. Act. 1961 part-2-reg To: Raipur addicit.Itat Date: 08/27/24 07:11 PM From: "raipur.addlcit.cen" sraipur.addlcit.cen@ incometax.gov.in» DFA - 28.12.2019-NRVS Steels Ltd. (2).pdf (8.5MB) Sir Kindly find attachments received from ACIT, Central Circle, Bilaspur for your kind perusel and needful. Regards, Bipin Kumar Ahirwar Addi. CIT(C), Raipur ----- Original Message ---····· From: "bilaspur.dcit.cen" Date: Aug 27, 2024 12:56:54 PM Subject: Re: Furnishing the copies of draft assessment orders and copies of covering letter sent to the Joint Commissioner of Income Tax for approval u/s 153D of the I.T. Act, 1961 part-2-reg To: "raipur.addlelt.cen" On 08/26/24 04:48 PM, "raipur.addlelt.cen" wrote: Kindly refer to your mail dated 08.08.2024 and 23.06.2024 on the above subject vide which report and draft assessment orders have been submitted, On perusal of your submissions, it is noticed that draft assessment order in the case of NRVS Steels Ltd. for A.Y.2018- 19 has not been submited by you. Please furnish the same at the earliest so that the consolidated report and draft assessment orders can be forwarded to ....
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....ised draft assessment order to the Joint Commissioner of Income Tax, Central Range, Raipur for necessary approval. As the case was going to be time barred, the Joint Commissioner of Income Tax, Central Range, Raipur after carefully considering all the facts brought in the record after proper application of mind has given approval u/s 153D of the Act on 30-12-2019. Submitted for your kind perusal. Encl: As above (Pradeep Kumar Swarnakar) Assistant Commissioner of Income-tax Central Circle, Bilaspur Document 14 GOVERNMENT OF INDIA MINISTRY OF FINANCE INCOME TAX DEPARTMENT OFFICE OF THE ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 2, RAIPUR To. NRTMT (INDIA) PRIVATE LIMITED 106,M-1 106,M-1 CHAITANYA NAGAR 496001 ,Chhattisgarh India DIN & Notice No: ITBA/AST/F/143(3)(SCN)/20 19-20/1023286828(1) Dated: 27/12/2019 Hearing Date and Time: PAN: AY: 28/12/2019 02:00 PM AAECP8302R 2018-19 SHOW CAUSE NOTICE Kindly refer to the above mentioned subject. In connection with above subject, it is stated that a search and seizure action u/s 132 of the Income tax Act, 1961 was carried on 24:10.2017 in the Residential, Business and Fac....
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.... in view of this office letter no. F.No. JCIT(C)/RPR/Draft Asst. Order/2016-17/ dated 09.09.2016 it is presumed that the AO has - : given proper opportunity of hearing has been given to the assessce thoroughly verified the seized material and that there are no adverse findings . satisfied himself that all the issues emanating from the records have been verified and the additions wherever required have been proposed. 4. You may act accordingly. The copy of the final order may be submitted for record purpose in this office. Encl: case records (R.M. Mujumday) Joint Commissioner of Income tax, Range- Central, Raipur Document 16 Government of India Ministry of Finance: Department of Revenue Office of the Deputy Commissioner of Income-tax, (Central)-2, Aayakar Bhawan, Central Revenue Building, Civil Lines, Raipur (C.G.) Ph. & Fax :- 0771-2331091, E mail: [email protected] .No. DCIT (C)-2/RPR /Search assessment/153D/2019-20 Date: 26.12.2019 To, The Joint Commissioner of Income-tax (Central) Raipur Sir, Sub :- Search & Seizure assessments u/s 153A r.w.s 143(3) - Draft order for kind approval u/s 153D of the Act .- Regarding. Kin....