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

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

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpia

Gain / Short-term Capital Loss / Business Loss. This entry of LTCG is taken by selling the shares on the Stock Exchange and registering the proceeds arising out of the sale of shares into the books as LTCG. For implementing this scheme, shares of some Penny Stock companies were used. The same modus is adopted for providing accommodation entry of bogus

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 accounts but the assessee cannot escape from the onus of proving the transaction to be genuine. It is a fact that the assessee has purchased and the sold i.e. traded the scrip of Oasis Tradelink in order to claim

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 accounts but the assessee cannot escape from the onus of proving the transaction to be genuine. It is a fact that the assessee has purchased and the sold i.e. traded the scrip of Oasis Tradelink in order to claim

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

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 has been prepared

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

short ‘the Act’) for claim of Rs.40,51,063/- on account of 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

PANCHSHEEL SOLVENT PVT. LTD., RAJANANDGAON,RAJANANDGAON vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, RAIPUR, RAIPUR

Appeal is allowed, partly for statistical purposes

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं. / Ita No: 110/Rpr/2024 (िनधा"रण वष" Assessment Year: 2016-17)

short term capital gain on sale of plant and machinery." Despite the repeated opportunity of hearing to appellant, no explanation has been furnished by the appellant during the course of assessment proceedings and appellate proceedings on the findings and conclusion of the Id. AO. In absence of any explanation and supporting documents for favoring appellant contention & on the basis

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

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

Short-Term Capital Gain (STCG) by transacting in shares of CCL International Ltd., as under: Scrip Sale date Quantity x Sale price Purchase Purchase involved rate date price ( in Rs.) CCL 12/05/2014 3000*180 5,40,000 26/07/2013 2,55,000 International The A.O in order to verify the authenticity of the aforesaid transactions of purchase/sale of shares carried

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

Short-Term Capital Gain (STCG) by transacting in shares of CCL International Ltd., as under: Scrip Sale date Quantity x Sale price Purchase Purchase involved rate date price ( in Rs.) CCL 12/05/2014 3000*180 5,40,000 26/07/2013 2,55,000 International The A.O in order to verify the authenticity of the aforesaid transactions of purchase/sale of shares carried

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

Short-Term Capital Gain (STCG) by transacting in shares of CCL International Ltd., as under: Scrip Sale date Quantity x Sale price Purchase Purchase involved rate date price ( in Rs.) CCL 12/05/2014 3000*180 5,40,000 26/07/2013 2,55,000 International The A.O in order to verify the authenticity of the aforesaid transactions of purchase/sale of shares carried

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

Short-Term Capital Gain (STCG) by transacting in shares of CCL International Ltd., as under: Scrip Sale date Quantity x Sale price Purchase Purchase involved rate date price ( in Rs.) CCL 12/05/2014 3000*180 5,40,000 26/07/2013 2,55,000 International The A.O in order to verify the authenticity of the aforesaid transactions of purchase/sale of shares carried

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

short ‘the Act’) dated 31.12.2016 for assessment year 2014-15. The assessee has assailed the impugned order on the following grounds of appeal before us: “1. Ld. CIT(A) erred in confirming addition of Rs.90,72,799/- made by the AO on account of PRW (piece rate work) (Labour and Machine) expenses being the difference between the expenses claimed

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.)

short ‘the Act’). The relevant facts in this case are that as per the information available with the Department, the assessee had earned long term capital gain from the sales of shares of Konark Commerce Industries Ltd. The assessee had sold 40,000 shares of Konark Commerce Industries Ltd. in 8 counts and there has been capital gain of Rs.39

MADANLAL LODHA,RAIPUR vs. PR. COMMISSIONER OF INCOME TAX, RAIPUR-1

In the result, appeal of the assessee stands allowed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No: Ita 32/Rpr/2022 (Assessment Years:2017-18) Madanlal Lodha, V Pr. Commissioner Of Income Ta, C/O M/S Prakash Trading Comp. S Raipur-(I) Shop No. 109 & 110, Textile Market, Pandri, Raipur, (C.G.) (अपीलाथ"/Appellant) (""यथ" / Respondent) .. िनधा"रतीक"ओरसे /Assessee By : Shri R.B. Doshi, Ca राज"वक"ओरसे /Revenue By : Shri S.K. Meena, Cit-Dr सुनवाईक"तार"ख/ Date Of Hearing : 03-08-2023 घोषणाक"तार"ख/Date Of Pronouncement : 20-10-2023

gain is not liable to tax and Ld. PCIT failed to appreciate the evidence filed and the correct position of law. iii). The appellant reserves the right to add, amend or alter any of the ground/s of appeal. 3. The brief facts of the case culled out from records are that the assessee, who is an individual has filed

BHARAT BENEFICATION & POWER PVT. LTD., RAIGARH,RAIGARH vs. PR.COMMISSIONER OF INCOME TAX (CENTRAL), BHOPAL, BHOPAL

Bench: Shri Partha Sarathi Chaudhury, Jm & Shri Arun Khodpia, Am आयकर अपील सं. / Ita No: 336/Rpr/2025 (िनधा"रण वष" Assessment Year: 2018-19)

short synopsis submitted before us is extracted hereunder for the sake of clarity: Bharat Benefication & Power Pvt. Ltd., Raigarh AY 2018/19 Submission of assessee 1. Rs. 70 lakh Sky Alloys & Power Pvt. Ltd. i) Impugned assessment reopened on the issue of alleged bogus purchases from two parties. ii) In the reopened assessment, as per the settled law, AO could

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

purchase of its own shares from a shareholder in accordance with the provisions of section 77A13 of the Companies Act, 1956 (1 of 1956); (v) any distribution of shares pursuant to a demerger by the resulting company to the shareholders of the demerged company (whether or not there is a reduction of capital in the demerged company). Explanation

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

purchase of its own shares from a shareholder in accordance with the provisions of section 77A13 of the Companies Act, 1956 (1 of 1956); (v) any distribution of shares pursuant to a demerger by the resulting company to the shareholders of the demerged company (whether or not there is a reduction of capital in the demerged company). Explanation

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