DCIT-1(1), BHILAI vs. VIJAYA DESHLAHRA, INDORE

In the result, ITA No. 92/RPR/2025 & C

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpia

purchased by the beneficiaries of LOSS who later sell their shares when the price falls and hence book bogus LOSS in their books. All these transactions are done on the Stock Exchange and where the sale of shares are done after a holding of one year they fall into the category of Long Term Capital Gain

INCOME TAX OFFICER, RAIPUR vs. RAHUL KATHURIA, RAIPUR

In the result, appeal of the Revenue in ITA No

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos.151 & 152/Rpr/2025 "नधा"रण वष" / Assessment Years : 2018-19 & 2019-20 The Income Tax Officer/Income Tax Officer-3(1) Raipur (C.G.)

Bogus Long term capital gain (LTCG)/Loss. ……. The purchase and sale transactions were carried through registered broker and through demat

INCOME TAX OFFICER-3(1), RAIPUR, RAIPUR vs. RAHUL KATHURIA, RAIPUR

In the result, appeal of the Revenue in ITA No

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos.151 & 152/Rpr/2025 "नधा"रण वष" / Assessment Years : 2018-19 & 2019-20 The Income Tax Officer/Income Tax Officer-3(1) Raipur (C.G.)

Bogus Long term capital gain (LTCG)/Loss. ……. The purchase and sale transactions were carried through registered broker and through demat

BRIJMOHAN PRASAD GUPTA, KANKER,KANKER vs. ITO, WARD- JAGDALPUR, JAGDALPUR

In the result, appeal of the assessee is allowed for statistical purposes

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita No.42/Rpr/2025 "नधा"रण वष" /Assessment Year : 2013-14 Brijmohan Prasad Gupta Janakpur Ward, Tikrapara, Kanker (C.G.)-494 334 Pan: Adbpg3007B

bogus Long Term Capital Gain (LTCG) and the facts emanating at Para 5.14 of the assessment order are as follows: “5.14 The assessee has purchased

DEPUTY COMMISSIONER OF INCOME TAX-(1), RAIPUR, RAIPUR vs. AJAY GOLECHAA, RAIPUR

In the result, appeal of the Revenue is dismissed

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpiaआयकर अपील सं. / Ita No.454/Rpr/2025 "नधा"रण वष" / Assessment Year : 2014-15 The Deputy Commissioner Of Income Tax-1(1), Raipur (C.G.)

bogus exemption under section 10(38) of the Act on account of long-term capital gains arising from transactions in penny stock. 2. Whether the Ld. CIT(A) has erred in law and in facts in holding that the surrender of income by the assessee discharges him from the penal consequences under section 271(1)(c) of the Act, without

INCOME TAX OFFICER-1(1), BHILAI, BHILAI vs. MANISH KUMAR MEHTA, HUF, DURG

In the result, appeal of the revenue is dismissed

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita No.342/Rpr/2025 "नधा"रण वष" /Assessment Year : 2012-13 The Income Tax Officer-1(1), Bhilai (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. Manish Kumar Mehta Opportunity. Swami Atmanand English Medium School, Krishna Talkies Road, Risali, Bhilai (C.G.)-490 006 Pan: Aahhm3766Q ……""यथ" / Respondent

long term capital:gain/ short term capital loss to various persons. The above entities/companies and intermediate companies, it is learned that most of these entities are either non-filer or filed their ITR showing meager income. Apparently these companies were running on papers only and their bank accounts were used for layering of funds. Accordingly Cash Trail, identifying several

RADHIKA GUPTA,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1), RAIPUR

In the result, appeal of the assessee in ITA

Bench: Shri Ravish Soodआयकर अपील सं./ Ita No.190/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Rahul Gupta (Huf) M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aamhr5784E .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.191/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Rahul Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aexpg9423L .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.192/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Radhika Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aqfpm4577M .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.193/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Pawan Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Adcpg7808B .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent : Shri R.B Doshi, Ca Revenue By : Shri Piyush Tripathi, Sr. Dr

Long Term Capital Gain (LTCG) on purchases/sale of shares of a penny stock company, which thereafter was claimed as exempt u/s.10(38) of the Act, but as pointed by the Ld. Authorized Representative (for short ‘AR’) for the assessee and, rightly so, the assessee had in its return of income disclosed Short Term Capital Gain (STCG) on purchase/sale

PAWAN GUPTA,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1), RAIPUR

In the result, appeal of the assessee in ITA

Bench: Shri Ravish Soodआयकर अपील सं./ Ita No.190/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Rahul Gupta (Huf) M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aamhr5784E .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.191/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Rahul Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aexpg9423L .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.192/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Radhika Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aqfpm4577M .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.193/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Pawan Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Adcpg7808B .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent : Shri R.B Doshi, Ca Revenue By : Shri Piyush Tripathi, Sr. Dr

Long Term Capital Gain (LTCG) on purchases/sale of shares of a penny stock company, which thereafter was claimed as exempt u/s.10(38) of the Act, but as pointed by the Ld. Authorized Representative (for short ‘AR’) for the assessee and, rightly so, the assessee had in its return of income disclosed Short Term Capital Gain (STCG) on purchase/sale

SHRI RAHUL GUPTA,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 1(1) , RAIPUR

In the result, appeal of the assessee in ITA

Bench: Shri Ravish Soodआयकर अपील सं./ Ita No.190/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Rahul Gupta (Huf) M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aamhr5784E .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.191/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Rahul Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aexpg9423L .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.192/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Radhika Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aqfpm4577M .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.193/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Pawan Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Adcpg7808B .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent : Shri R.B Doshi, Ca Revenue By : Shri Piyush Tripathi, Sr. Dr

Long Term Capital Gain (LTCG) on purchases/sale of shares of a penny stock company, which thereafter was claimed as exempt u/s.10(38) of the Act, but as pointed by the Ld. Authorized Representative (for short ‘AR’) for the assessee and, rightly so, the assessee had in its return of income disclosed Short Term Capital Gain (STCG) on purchase/sale

RAHUL GUPTA(HUF),RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1), RAIPUR

In the result, appeal of the assessee in ITA

Bench: Shri Ravish Soodआयकर अपील सं./ Ita No.190/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Rahul Gupta (Huf) M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aamhr5784E .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.191/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Rahul Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aexpg9423L .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.192/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Radhika Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aqfpm4577M .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.193/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Pawan Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Adcpg7808B .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent : Shri R.B Doshi, Ca Revenue By : Shri Piyush Tripathi, Sr. Dr

Long Term Capital Gain (LTCG) on purchases/sale of shares of a penny stock company, which thereafter was claimed as exempt u/s.10(38) of the Act, but as pointed by the Ld. Authorized Representative (for short ‘AR’) for the assessee and, rightly so, the assessee had in its return of income disclosed Short Term Capital Gain (STCG) on purchase/sale

FIVE STARCONSTRUCTION COMPANY,BHILAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 1(1), BHILAI

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.45/Rpr/2018 "नधा"रण वष" / Assessment Year : 2014-15 Five Star Construction Company Plot No.96-97, Light Industrial Area, Chawani Chowk, Bhilai (C.G)-490026 Pan : Aaaff4316L .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax-1(1), Bhilai (C.G.) ……""यथ" / Respondent

purchase of gold biscuit. 12. Addition of undisclosed interest income. 1,59,000/- 13. Addition as regards the unexplained credit in the 6,56,248/- capital account of Sh. D.K Jain (partner). 14. Addition of long term capital gain (LTCG) on sale of 18,98,410/- land by the assessee firm which was claimed as exempt. 10 Five Star Construction

JCIT, (OSD), CIRCLE 1(1), RAIPUR, RAIPUR vs. MAHENDRA KUMAR GUPTA HUF, RAIPUR, RAIPUR

In the result, appeal of the Revenue is allowed for statistical purposes

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita No.131/Rpr/2026 "नधा"रण वष" /Assessment Year : 2011-12 The Joint Commissioner Of Income Tax (Osd), Circle-1(1), Raipur (C.G.)

long term capital gain. The A.O. after recording his findings finally held as follows: 3. In this background, the Ld. CIT(Appeals)/NFAC had held and observed as follows: “7.3 Decision: I have carefully examined the assessment order and the written submission filed by the assessee. The remand report was requisitioned from

ANJU PAREKH,DHAMTARI vs. INCOME TAX OFFICER, WARD-DHAMTARI, DHAMTARI

In the result, appeal of the assessee is allowed

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita No.384/Rpr/2023 "नधा"रण वष" / Assessment Year : 2013-14 Anju Parekh, Prop. M/S. Kushal Investment, Near Petrol Pump, Station Road, Dhamtari, Chhattisgarh-493773 Pan No. Akepp9283A

Long Term Capital 4 Anju Parekh Vs. Income Tax Officer, Ward-Dhamtari Gain (LTCG), wherein the shares of the penny stock companies are acquired by the beneficiaries of LTCG at very low prices through the route of preferential allotment (private placement) and off market transaction. Thereafter, the prices of the shares of the penny stock companies are rigged and raised

SOUTH EASTERN COALFIELDS LIMITED, BILASPUR,BILASPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), BILASPUR, BILASPUR

Bench: Shri Ravish Sood & Shri Arun Khodpia

gains of business or profession, capital gains and income from other sources. Thus, under each head of income, there' are provisions for deductions which are to be made while computing the income chargeable under that head. It, therefore, follows that it is an obligatory duty cast upon a person filing the return of income to disclose all his income derived

SOUTH EASTERN COALFIELDS LIMITED, BILASPUR,BILASPUR vs. ASSISSTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), BILASPUR, BILASPUR

Bench: Shri Ravish Sood & Shri Arun Khodpia

gains of business or profession, capital gains and income from other sources. Thus, under each head of income, there' are provisions for deductions which are to be made while computing the income chargeable under that head. It, therefore, follows that it is an obligatory duty cast upon a person filing the return of income to disclose all his income derived

SOUTH EASTERN COALFIELDS LIMITED, BILASPUR,BILASPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), BILASPUR, BILASPUR

Bench: Shri Ravish Sood & Shri Arun Khodpia

gains of business or profession, capital gains and income from other sources. Thus, under each head of income, there' are provisions for deductions which are to be made while computing the income chargeable under that head. It, therefore, follows that it is an obligatory duty cast upon a person filing the return of income to disclose all his income derived

SOUTH EASTERN COALFIELDS LIMITED,BILASPUR vs. JT. COMMISSIONER OF INCOME TAX (OSD), CIRCLE-1(1), BILASPUR

Bench: Shri Ravish Sood & Shri Arun Khodpia

gains of business or profession, capital gains and income from other sources. Thus, under each head of income, there' are provisions for deductions which are to be made while computing the income chargeable under that head. It, therefore, follows that it is an obligatory duty cast upon a person filing the return of income to disclose all his income derived

SOUTH EASTERN COALFIELDS LIMITED, BILASPUR,BILASPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), BILASPUR, BILASPUR

Bench: Shri Ravish Sood & Shri Arun Khodpia

gains of business or profession, capital gains and income from other sources. Thus, under each head of income, there' are provisions for deductions which are to be made while computing the income chargeable under that head. It, therefore, follows that it is an obligatory duty cast upon a person filing the return of income to disclose all his income derived