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) ..

search & seizure operation conducted at the business premises of present assessee resulting into seizure/impounding of loose papers/documents/incriminating material. The AO has made reference of a certificate dated 07.04.20]5 of M/s Abhishek Raja & Associates showing investment in land and building of Rs. 4913 .24 lacs which is the only basis for making reference to the DVO. v) The period

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) ..

search & seizure operation conducted at the business premises of present assessee resulting into seizure/impounding of loose papers/documents/incriminating material. The AO has made reference of a certificate dated 07.04.20]5 of M/s Abhishek Raja & Associates showing investment in land and building of Rs. 4913 .24 lacs which is the only basis for making reference to the DVO. v) The period

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) ..

search & seizure operation conducted at the business premises of present assessee resulting into seizure/impounding of loose papers/documents/incriminating material. The AO has made reference of a certificate dated 07.04.20]5 of M/s Abhishek Raja & Associates showing investment in land and building of Rs. 4913 .24 lacs which is the only basis for making reference to the DVO. v) The period

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) ..

search & seizure operation conducted at the business premises of present assessee resulting into seizure/impounding of loose papers/documents/incriminating material. The AO has made reference of a certificate dated 07.04.20]5 of M/s Abhishek Raja & Associates showing investment in land and building of Rs. 4913 .24 lacs which is the only basis for making reference to the DVO. v) The period

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.)

search and seizure action, several incriminating documents, communications and digital data has been found, which led to unearth the operations of the syndicate, establishing clearly the modus operandi of providing Bogus Long term capital gain

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.)

search and seizure action, several incriminating documents, communications and digital data has been found, which led to unearth the operations of the syndicate, establishing clearly the modus operandi of providing Bogus Long term capital gain

THE ASSISTANT COMMISSIONER OF INCOME-TAX-CENTRAL CIRCLE-2,RAIPUR, RAIPUR (CG) vs. M/S DEVI IRON & POWER PVT LTD., RAIPUR, RAIPUR (CG)

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 267 & 268/Rpr/2014 Co Nos. 30 & 31/Rpr/2015 "नधा"रण वष" / Assessment Years : 2011-12 & 2012-13 The Deputy Commissioner Of Income Tax, Central Circle, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. Mahamaya Tower, 3Rd & 4Th Floor, In Front Of Anupam Nagar, Near Varun Honda, G.E. Road, Raipur (C.G.) Pan : Aaeca3704G ……""यथ" / Respondent आयकर अपील सं. / Ita No.101/Rpr/2017 "नधा"रण वष" / Assessment Year : 2013-14 The Assistant Commissioner Of Income Tax (Central)-2, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. B-08-09, Sector-C, Industrial Area, Urla, Sarora, Raipur (C.G.) Pan : Aabcd9753D ……""यथ" / Respondent Co Nos.30 & 31/Rpr/2015

capital and share premium reserve of Rs.45,00,000/- and Rs. 10,51,20,000/- as on 31.3.2006 and that the ITO, Ward-1(1), Kolkata had conducted enquiries with the various shareholders of Callidora Traders Private Limited by issuing notices u/s 133(6) and verifying their responses. I find that ITO, Ward-1(1), Kolkata was satisfied with

D.C.I.T. CENTRAL CRICLE,, RAIPUR vs. DEVI IRON & POWER LIMITED, RAIPUR

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 267 & 268/Rpr/2014 Co Nos. 30 & 31/Rpr/2015 "नधा"रण वष" / Assessment Years : 2011-12 & 2012-13 The Deputy Commissioner Of Income Tax, Central Circle, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. Mahamaya Tower, 3Rd & 4Th Floor, In Front Of Anupam Nagar, Near Varun Honda, G.E. Road, Raipur (C.G.) Pan : Aaeca3704G ……""यथ" / Respondent आयकर अपील सं. / Ita No.101/Rpr/2017 "नधा"रण वष" / Assessment Year : 2013-14 The Assistant Commissioner Of Income Tax (Central)-2, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. B-08-09, Sector-C, Industrial Area, Urla, Sarora, Raipur (C.G.) Pan : Aabcd9753D ……""यथ" / Respondent Co Nos.30 & 31/Rpr/2015

capital and share premium reserve of Rs.45,00,000/- and Rs. 10,51,20,000/- as on 31.3.2006 and that the ITO, Ward-1(1), Kolkata had conducted enquiries with the various shareholders of Callidora Traders Private Limited by issuing notices u/s 133(6) and verifying their responses. I find that ITO, Ward-1(1), Kolkata was satisfied with

D.C.I.T. CENTRAL CRICLE,, RAIPUR vs. DEVI IRON & POWER PVT LIMITED, RAIPUR

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 267 & 268/Rpr/2014 Co Nos. 30 & 31/Rpr/2015 "नधा"रण वष" / Assessment Years : 2011-12 & 2012-13 The Deputy Commissioner Of Income Tax, Central Circle, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. Mahamaya Tower, 3Rd & 4Th Floor, In Front Of Anupam Nagar, Near Varun Honda, G.E. Road, Raipur (C.G.) Pan : Aaeca3704G ……""यथ" / Respondent आयकर अपील सं. / Ita No.101/Rpr/2017 "नधा"रण वष" / Assessment Year : 2013-14 The Assistant Commissioner Of Income Tax (Central)-2, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. B-08-09, Sector-C, Industrial Area, Urla, Sarora, Raipur (C.G.) Pan : Aabcd9753D ……""यथ" / Respondent Co Nos.30 & 31/Rpr/2015

capital and share premium reserve of Rs.45,00,000/- and Rs. 10,51,20,000/- as on 31.3.2006 and that the ITO, Ward-1(1), Kolkata had conducted enquiries with the various shareholders of Callidora Traders Private Limited by issuing notices u/s 133(6) and verifying their responses. I find that ITO, Ward-1(1), Kolkata was satisfied with

VASUDEO REAL ESTATE PVT. LTD.,RAIPUR,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL-2, RAIPUR, RAIPUR

In the result, appeal of the assessee in ITA No

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita Nos.261 To 265/Rpr/2025 "नधा"रण वष" /Assessment Years : 2012-13 To 2016-17 Basudeo Real Estate Private Limited Hira Arcade, First Floor, Near New Bus Stand, Pandri, Raipur-492 001 (C.G.) Pan: Aadcv1614K .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Central-2, Raipur (C.G.) ……""यथ" / Respondent

capital and reserve (premium) on the liability side and fictitious assets like investment in unquoted shares on the asset side. This shows non-creditworthiness of the above companies which have shown unsecured loans to Hira Group Companies. During the search and seizure action at the residential and office premises at Hira Arcade, Shri B.L. Agrawal, CMD had himself admitted

VASUDEO REAL ESTATE PVT LTD., RAIPUR,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL-2, RAIPUR, RAIPUR

In the result, appeal of the assessee in ITA No

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita Nos.261 To 265/Rpr/2025 "नधा"रण वष" /Assessment Years : 2012-13 To 2016-17 Basudeo Real Estate Private Limited Hira Arcade, First Floor, Near New Bus Stand, Pandri, Raipur-492 001 (C.G.) Pan: Aadcv1614K .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Central-2, Raipur (C.G.) ……""यथ" / Respondent

capital and reserve (premium) on the liability side and fictitious assets like investment in unquoted shares on the asset side. This shows non-creditworthiness of the above companies which have shown unsecured loans to Hira Group Companies. During the search and seizure action at the residential and office premises at Hira Arcade, Shri B.L. Agrawal, CMD had himself admitted

VASUDEO REAL ESTATE PVT. LTD., RAIPUR,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL-2, RAIPUR, RAIPUR

In the result, appeal of the assessee in ITA No

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita Nos.261 To 265/Rpr/2025 "नधा"रण वष" /Assessment Years : 2012-13 To 2016-17 Basudeo Real Estate Private Limited Hira Arcade, First Floor, Near New Bus Stand, Pandri, Raipur-492 001 (C.G.) Pan: Aadcv1614K .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Central-2, Raipur (C.G.) ……""यथ" / Respondent

capital and reserve (premium) on the liability side and fictitious assets like investment in unquoted shares on the asset side. This shows non-creditworthiness of the above companies which have shown unsecured loans to Hira Group Companies. During the search and seizure action at the residential and office premises at Hira Arcade, Shri B.L. Agrawal, CMD had himself admitted

VASUDEO REAL ESTATE PVT. LTD., RAIPUR,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL-2, RAIPUR, RAIPUR

In the result, appeal of the assessee in ITA No

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita Nos.261 To 265/Rpr/2025 "नधा"रण वष" /Assessment Years : 2012-13 To 2016-17 Basudeo Real Estate Private Limited Hira Arcade, First Floor, Near New Bus Stand, Pandri, Raipur-492 001 (C.G.) Pan: Aadcv1614K .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Central-2, Raipur (C.G.) ……""यथ" / Respondent

capital and reserve (premium) on the liability side and fictitious assets like investment in unquoted shares on the asset side. This shows non-creditworthiness of the above companies which have shown unsecured loans to Hira Group Companies. During the search and seizure action at the residential and office premises at Hira Arcade, Shri B.L. Agrawal, CMD had himself admitted

VASUDEO REAL ESTATE PVT. LTD., RAIPUR,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL-2, RAIPUR, RAIPUR

In the result, appeal of the assessee in ITA No

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita Nos.261 To 265/Rpr/2025 "नधा"रण वष" /Assessment Years : 2012-13 To 2016-17 Basudeo Real Estate Private Limited Hira Arcade, First Floor, Near New Bus Stand, Pandri, Raipur-492 001 (C.G.) Pan: Aadcv1614K .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Central-2, Raipur (C.G.) ……""यथ" / Respondent

capital and reserve (premium) on the liability side and fictitious assets like investment in unquoted shares on the asset side. This shows non-creditworthiness of the above companies which have shown unsecured loans to Hira Group Companies. During the search and seizure action at the residential and office premises at Hira Arcade, Shri B.L. Agrawal, CMD had himself admitted

SUBEDAR PATHAK, GORAKHPUR,GORAKHPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, RAIPUR, RAIPUR

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

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpiaआयकर अपील सं. / Ita No.338/Rpr/2025 "नधा"रण वष" / Assessment Year : 2015-16 Subedar Pathak Devnagari, Near Indian Oil Petrol Pump, Almunium Factory Road, Gorakhpur (U.P)-273- 001 Pan: Apspp4726M ........अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Central Circle-1, Raipur (C.G.) ……""यथ" / Respondent

search and seizure proceedings in F.Y.2010-11 shares of UBV Infrastructure Ltd. having face value of Rs.10/- were sold out of different Kolkata based companies at the rate of Rs.20/- per share and later on in F.Y.2015-16 & 2016-17, the shares were again acquired at the rate of Rs.10/- only. With this arrangement there was benefit of capital gain