आयकर अपील(cid:547)य अ(cid:876)धकरण Ûयायपीठ रायपुर म(cid:581)।

IN THE INCOME TAX APPELLATE TRIBUNAL, RAIPUR BENCH, RAIPUR BEFORE SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER AND SHRI AVDHESH KUMAR MISHRA, ACCOUNTANT MEMBER आयकर अपील सं. /IT(SS)A No.19/RPR/2025 CO No.19/RPR/2025 (cid:467)नधा(cid:91)रण वष (cid:91) / Assessment Year : 2014-15 The Assistant Commissioner of Income Tax, Central Circle-1, Raipur (C.G.)

........अपीलाथ(cid:568) / Appellant बनाम / V/s.

Maruti Clean Coal and Power Limited

8th Floor, CBD Complex, Sector-21, Atal Nagar, Naya Raipur, Raipur-492 018 PAN: AADCM4810C ……(cid:292)×यथ(cid:568) / Respondent आयकर अपील सं. / ITA No.558/RPR/2025 CO No.22/RPR/2025 (cid:467)नधा(cid:91)रण वष (cid:91) / Assessment Year : 2016-17 The Assistant Commissioner of Income Tax, Central Circle-1, Raipur (C.G.)

........अपीलाथ(cid:568) / Appellant CO Nos. 19 & 22/RPR/2025 बनाम / V/s.

Maruti Clean Coal and Power Limited

8th Floor, CBD Complex, Sector-21, Atal Nagar, Naya Raipur, Raipur-492 018 PAN: AADCM4810C ……(cid:292)×यथ(cid:568) / Respondent Assessee by : S/shri Salil Kapoor &

Shivam Yadav, Advocates Revenue by : Shri Yogesh Kumar Sharma, CIT-DR सुनवाई क(cid:551) तार(cid:547)ख / Date of Hearing : 06.02.2026 घोषणा क(cid:551) तार(cid:547)ख / Date of Pronouncement : 16.02.2026 आदेश / ORDER PER BENCH:

The captioned appeals preferred by the Revenue and corresponding cross-objections preferred by the assessee emanates from the respective orders of the Ld.CIT(Appeals), Raipur-3, dated 12.02.2025 & 17.07.2025 for the assessment years 2014-15 & 2016-17 as per the grounds of appeal on record.

2. At the very outset, parties herein conceded that the facts and issues involved in all these appeals are similar in nature. Having heard the CO Nos. 19 & 22/RPR/2025 submissions of the parties herein, all these matters are heard together and disposed off vide this consolidated order.

3. First, we shall take the appeal filed by the Revenue in IT(SS) No.19/RPR/2025 & CO No.19/RPR/2025, wherein the Revenue has raised following grounds of appeal:

“1. Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) was justified in deleting the addition of Rs.3,44,14,282/-?

2. Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) was justified in deleting the addition of Rs.3,44,14,282/- made by the A.O on account of disallowance of expenditure (being capital expenditure in nature), holding that relevant encashment of bank guarantee is incurred in normal course of business involving Gujarat State Electricity Corporation Limited (GSECL) on account of non-performance of contract by the assessee, without appreciating:

(a) That during the impugned year and even in the year go there was no business income at all and further the assessee failed to correlate/prove the nexus of the financial charges claimed of Rs.3,44,14,282/- with the business activity and/or income moreover since no business income is reported/earned during the A.Y?

(b) That the assessee has shown Rs.3,44,14,282/- as finance cost (

bank charges and commission) payment, whereas no revenue realization is appearing in the year under consideration?

(c) Without being prejudice to the above, that the assessee has two divisions being washery division and power division and there was no activities in washery division and the power division was still under construction during the instant A.Y and therefore, there was no revenue realization and no business activity during the impugned A.Y?

3. Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) was justified in deleting the addition of Rs.3,44,14,282/- made by the A.O on account of disallowance of CO Nos. 19 & 22/RPR/2025 expenditure (being capital expenditure in nature) relying merely upon the submissions of the assessee, ignoring that:

(a) during the assessment proceedings, the assessee has not provided the copy of contract with GSECL, terms of bank guarantee, etc. which have been submitted before the Ld. CI