DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 2(1), RAIPUR vs. SHRI VARUN JAIN , RAIPUR

In the result, appeal of the revenue in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 221/Rpr/2019 "नधा"रण वष" / Assessment Year : 2009-10 The Deputy Commissioner Of Income Tax-2(1), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. Shri Varun Jain 22-B, South Avenue, Choubey Colony, Raipur (C.G.). Pan : Aggpj1319R ……""यथ" / Respondent आयकर अपील सं. / Ita No. 222/Rpr/2019 "नधा"रण वष" / Assessment Year : 2009-10 The Deputy Commissioner Of Income Tax-2(1), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. Shri Vaibhav Jain 22-B, South Avenue, Choubey Colony, Raipur (C.G.) Pan : Akbps4207Q ……""यथ" / Respondent Assessee By :Shri Amit M Jain, Ar Revenue By :Shri Sanjay Sharma, Sr. Dr

section 45(3) of the I.T. Act? 2. Whether on the facts of the case and in law, the CIT(A) was justified in deleting the capital gains of Rs.18,61,74,000/- arising out of the transfer of the capital asset to firm as capital contribution in its original value and revalued it at Rs.19,04,79,000/- immediately

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1), RAIPUR vs. SHRI RAKESH SINGH, RAIPUR

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

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita No.231/Rpr/2019 (ननधाारण वषा / Assessment Year :2015-2016) Acit-3(1), Raipur Vs Shri Rakesh Singh, A-4, Mahaveer Singh, Tagore Nagar, Raipur (C.G.) Pan No. : Acwps 6453 R (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. राजस्व की ओर से /Revenue By : Shri G.N.Singh, Sr. Dr ननधााररती की ओर से /Assessee By : None सुनिाई की तारीख / Date Of Hearing : 28/07/2022 घोषणा की तारीख/Date Of Pronouncement : 21/09/2022 आदेश / O R D E R Per Arun Khodpia, Am :

12,00,000/- in the Capital Gains Savings account. ii. The observation of the Ld. CIT(A) that the appellant has submitted details of investment made for Rs.25,16,286/- alongwith bill with latter dated 17/11/2017. That the appellant has already made investment in construction of new house for Rs.2,69,77,525/- upto 31/03/2017 which was more than deduction

DCIT,1(1), RAIPUR (CG) vs. SMT VIMLESH KUMAR SINGH, RAIPUR (CG)

In the result, appeal filed by Revenue is dismissed

Bench: : Shri N.S.Saini & Shri Pavan Kumar Gadale, Judical Member Dcit-1(1), Raipur Vs Late Shri Vijay Pal Singh, Through L/H Smt. Vimlesh Kumari Singh, Prop.M/S Manohar Engineering & M/S Sharda Engineering, Baikunth, District – Raipur Pan No. : Ahjps 0124 K (Appellant) .. Tsednepser Revenue By : Mrs. Shital Verma, Dr Assessee By : Shri K.P.Dewani, Ar Date Of Hearing : 10/01/2018 Date Of Pronouncement 15/01/2018 आदेश / O R D E R Per Shri N.S.Saini, Am: This Is An Appeal Filed By The Revenue Against The Order Of The Cit(A), Raipur, Dated 08.02.2013 For The Assessment Year 2006-2007. 2. The Revenue Has Raised The Following Grounds :- “1. Whether In Law & On Facts & Circumstances Of The Case, The Cit(A) Has Erred In Deleting The Addition Of Rs.1,98,28,636/- Made By The Ao By Treating Long Term Capital Gain As Income From Undisclosed Sources.” 3. Brief Facts Of The Case Are That The Ao Observed That The Shares On Sale Of Which Ltcg Of Rs.1.95,39,611/- Was Shown & Exemption U/S.10(38) Of The Act Was Claimed Were Held Barely For Little More Than One Year To Qualify The Same As Long Term Capital Asset. The Cost Of The Shares Was Rs.2,69,400/- & Sale Consideration Was Rs.1,98,28,636/-. He

section 148 of the Income-tax Act, 1961, the assessee submitted his reply and furnished evidence in support of his claim of long-term capital gain. The Assessing Officer held that the assessee failed to lead evidence to support his claim of long-term capital gain and considered the amount of Rs.1,74,552 as unexplained credit

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 2(1), , RAIPUR vs. SHRI RADHESHYAM AGRAWAL, RAIPUR

The appeal of the revenue is dismissed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.32/Rpr/2020 "नधा"रण वष" / Assessment Year : 2015-16 The Deputy Commissioner Of Income Tax-2(1), Raipur (C.G.) .......अपीलाथ"/Appellant बनाम / V/S. Radheshyam Agrawal 27/B, Ankit Choubey Colony, Raipur (C.G.). Pan : Aczpa6544J ……""यथ" / Respondent

capital gain on the transfer of the aforesaid property had claimed deduction of indexed cost of improvement of Rs.31,62,386/-. It was observed by the A.O that the assesee had over the years claimed to have incurred expenses towards improvement of the property in that was sold, viz. (i). A.Y. 2010-11: Rs.11,14,316/-; (ii).A.Y.2011-12: Rs.2

JAI GURUDEV INFRASTRUCTURE PVT. LTD,BILASPUR vs. PR. CIT, BILASPUR

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri N. K. Choudhryआयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./I.T.A. No. 65/Rpr/2020 अपील िनधा"रण वष" वष" / Assessment Year : 2015-16) (िनधा"रण िनधा"रण िनधा"रण वष" वष" Jai Gurudev Infrastructure Pvt Ltd, Principal Commissioner Of बनाम/ बनाम बनाम बनाम C-11, Netaji Complex, Jarhabhata, Income-Tax, Vs. Bilaspur, Chhattisgarh Bilaspur "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccj 1895 R .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Shri Sunil Kumar Agrawal, Ca अपीलाथ" ओर से /Appellant By : Shri P.K. Mishra, Cit-Dr ""यथ" क" ओर से/Respondent By : 29.07.2021 सुनवाई क" तारीख / Date Of Hearing 14.10.2021 घोषणा क" तारीख /Date Of Pronouncement आदेश/O R D E R Per Pradip Kumar Kedia - Am:

Section 263 of the Act, called for the assessment records and observed that such order is erroneous insofar as prejudicial to the interest of the Revenue. Consequently, a show-cause notice dated 26.02.2020 was issued to show-cause as to why the assessment order in question should not be modified/set aside on the ground that such order is erroneous insofar

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1(1), RAIPUR vs. MESERSS T.C. BUILDCON PRIVATE LIMITED, RAIPUR

In the result CO filed by the assessee is allowed and the appeal filed by the revenue stands dismissed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am Assistant Commissioner Of Vs M/S. Tc Buildcon Pvt. Ltd. Income Tax, Circle 1(1) Vasudev, B-5, Sector-5, Raipur, (C.G.) Devendra Nagar, Raipur (C.G.) Pan: Aacct4516F Cross Objection No. 26/Rpr/2019 (Arising Out Of Ita No. 173/Rpr/2019) (िनधा"रण वष" / Assessment Year : 2011-12) Assistant Commissioner Of Vs M/S. Tc Buildcon Pvt. Ltd. Income Tax, Circle 1(1) Vasudev, B-5, Sector-5, Raipur, (C.G.) Devendra Nagar, Raipur (C.G.) Pan: Aacct4516F (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" ओर से /Assessee By : Shri Sunil Kumar Agrawal, Ca राज"व क" ओर से /Revenue By : Shri V.K. Singh, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 16-08-2023 घोषणाक" तार"ख/Date : 27-10-2023 Of Pronouncement आदेश / O R D E R Per Arun Khodpia, Am:

gain would not apply. 12. An attempt was made by the Assessing Officer to apply further to proviso to section 48 of the Act. Section 48 of the Act pertains to mode of computation. It essentially provides that the income chargeable under the head "Capital

SHRI RAMDEV MANDHANI, HUF,RAIPUR vs. INCOME TAX OFFICER - 3(2), RAIPUR

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri N. K. Choudhryआयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./I.T.A. No. 19/Rpr/2021 अपील िनधा"रण वष" वष" / Assessment Year : 2016-17) (िनधा"रण िनधा"रण िनधा"रण वष" वष" Ramdev Mandhani Huf, Income Tax Officer-3(2), बनाम/ बनाम बनाम बनाम C-295, Shailendra Nagar, Raipur Vs. Raipur, Chhattisgarh - 492001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaghr 5208 F .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Shri R.B. Doshi, Ar अपीलाथ" ओर से /Appellant By : Shri P.K. Mishra, Cit-Dr ""यथ" क" ओर से/Respondent By : 29.07.2021 सुनवाई क" तारीख / Date Of Hearing 21.10.2021 घोषणा क" तारीख /Date Of Pronouncement आदेश/O R D E R Per Pradip Kumar Kedia - Am:

capital gain for agricultural purposes. The PCIT has proceeded to disturb the assessment on totally irrelevant consideration and without showing any error in the claim. 8.2 On appreciation of facts available before us showing the use of land for agricultural purposes having regard to the agreement with farmers and other supporting papers, we are unable to discern even any remote

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

Capital Gain and Losses. No prudent businessman and particularly a trader or investor in stock will invest in share of such a company which is virtually defunct and inoperative.” 9. That, in response to the proposed variation in the draft assessment order, the assessee had filed reply which is extracted as follows:- “1. All details related to LTCG which

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

Capital Gain and Losses. No prudent businessman and particularly a trader or investor in stock will invest in share of such a company which is virtually defunct and inoperative.” 9. That, in response to the proposed variation in the draft assessment order, the assessee had filed reply which is extracted as follows:- “1. All details related to LTCG which

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

Capital Gain and Losses. No prudent businessman and particularly a trader or investor in stock will invest in share of such a company which is virtually defunct and inoperative.” 9. That, in response to the proposed variation in the draft assessment order, the assessee had filed reply which is extracted as follows:- “1. All details related to LTCG which

INCOME TAX OFFICER-1, RAIGARH vs. M/S SUMIT GLOBAL PVT. LTD, RAIGARH

In the result appeal of the revenue is partly allowed

Bench: SHRI RAVISH SOOD (Judicial Member), SHRI ARUN KHODPIA (Accountant Member)

capital gain of Rs.7,79,92,514/- accrued as result of transfer of land to M/s. Rishi Steel and power Ltd. (iv) In result these grounds of appeal are allowed.” 12. The Ld. AR on the basis of the aforesaid written submission had advanced certain contentions on behalf of the assessee as under: A. That an amount cannot be taxed

SHRI VIJAY TONDON,RAIPUR vs. INCOME TAX OFFICER, WARD-3(1), RAIPUR

In the result, the assessee's appeal is allowed in terms of our observations above

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 93/Rpr/2022 "नधा"रण वष" / Assessment Year : 2013-14 Shri Vijay Tondon, H.No.34, Sector-1, Shankar Nagar Road, Gitanjali Nagar, Raipur-492 001 (C.G.) Pan : Abupt1550H .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Ward-3(1), Raipur (C.G.) ……""यथ" / Respondent

section from the income from Capital gains. Therefore, I have reason to believe that the above sum of Rs.85,00,000/-, chargeable to tax, has escaped assessment for A.Y 2013-14 by reason of the failure on the part of assessee to disclose fully and truly all material facts necessary for its assessment for AY 2013-14. Raipur (Amrit Kumar

SHRI SHRI KETAN MOOLCHAND SHAH, BHILAI,BHILAI(CG) vs. THE DY. COMMISSIONER OF INCOME TAX,-2(1),BHILAI, BHILAI(CG)

In the result, both the appeals of the assessee are allowed

Bench: S/Shri N.S Saini & Pavan Kumar Gadaleassessment Year : 2008-2009 Assessment Year: 2010-2011

section 2(14) and the gain on transfer thereof is assessable to capital gains. The finding recorded by the AO and CIT(A) is incorrect and contrary to provisions of law. The addition made by the AO and sustained by the CIT(A) is not justified. 2. Ld CIT(A) erred in recording erroneous finding and concluding that the amount

SHRI KETAN MOOLCHAND SHAH,BHILAI(CG) vs. THE DEPUTY COMMISSIONER OF INCOME TAX-1, BHILAI(CG)

In the result, both the appeals of the assessee are allowed

Bench: S/Shri N.S Saini & Pavan Kumar Gadaleassessment Year : 2008-2009 Assessment Year: 2010-2011

section 2(14) and the gain on transfer thereof is assessable to capital gains. The finding recorded by the AO and CIT(A) is incorrect and contrary to provisions of law. The addition made by the AO and sustained by the CIT(A) is not justified. 2. Ld CIT(A) erred in recording erroneous finding and concluding that the amount

SHRI SHAILESH ARVIND SHAH,BHILAI(CG) vs. THE DY. COMMISSIONER OF INCOME TAX 2(1), BHILAI(CG)

In the result, both the appeals of the assessee are allowed

Bench: S/Shri N.S Saini & Pavan Kumar Gadaleassessment Year : 2008-2009 Assessment Year: 2010-2011

section 2(14) and the gain on transfer thereof is assessable to capital gains. The finding recorded by the AO and CIT(A) is incorrect and contrary to provisions of law. The addition made by the AO and sustained by the CIT(A) is not justified. 2. Ld CIT(A) erred in recording erroneous finding and concluding that the amount

RAIPUR SECURITIES AND INVESTMENT LIMITED,RAIPUR vs. INCOME TAX OFFICER, WARD 3(1), RAIPUR

In the result the appeal of the assessee is allowed on legal issue

Bench: Shri Ravish Sood & Shri Rathod Kamlesh Jayantbhaiआयकर अपील सं. / Ita No. 164/Rpr/2018 "नधा"रण वष" / Assessment Year : 2014-15 Raipur Securities & Investment Ltd. Mig 21, Indravati Colony, Raipur (C.G.) Pan : Aaccr4419F .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-3(1), Raipur (C.G.) ……""यथ" / Respondent

capital gain in the financial statements. Since the gain was left to be accounted through proper accounting entry, it was not reflected in the statement of profit & loss and consequently, it escaped disclosure in the computation. In the case of Price Waterhouse Coopers Pvt. Ltd. vs CIT (2012) 348 ITR 306 (SC), a disallowance on account of gratuity was reported

DY.C.I.T. 1 vs. SMT SANGEETA CHAWLA, BHILAI(CG)

In the result, appeal filed by the revenue is allowed for statistical

Bench: S/Shri N.S Saini & Pavan Kumar Gadaleassessment Year : 2011-2012

section 50C of the Act being 50% of total cost of acquisition of Rs.3,10,,69,500/-. Since the assessee has shown Rs.10,80,400/- as short term capital gain, the Assessing officer determined Rs.1,12

CHHATTISGARH SWAMI VIVEKANAND TECHNICAL UNIVERSITY,POST-NEWAI vs. ACIT (EXEMPTION), IT EXEMPTION OFFICE RAIPUR

Bench: Shri Partha Sarathi Chaudhury, Jm & Shri Arun Khodpia, Am आयकर अपील सं. / Ita No: 581/Rpr/2025 (िनधा"रण वष" Assessment Year: 2012-13)

gain. It is kept by the university as Government Fund. It reflects the institution's commitment to its mission and shows that the university is operating in line with its non- profit status and educational focus. Therefore the appellant is eligible for exemption u/s 10(23C)(iiiab). For claiming exemption u/s 10(23C)(iiiab) any university or other educational institution

M/S. RAJENDRA NATHANI (HUF),RAIPUR (CG) vs. ITO- 1(2),, RAIPUR (CG)

In the result, the appeal filed by the assessee is allowed for statistical

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2010-11 Rajendra Nathani (Huf), Ito- 1(2), H-100, I-6, Rajiv Nagar, Raipur (Cg). Shankar Nagar, Vs. Raipur (Cg).

section 50C while computing the capital gains on transfer of leasehold rights in land and building either before the Assessing Officer or before the ld. CIT(A). Considering the totality of the facts of the case and in the interest of justice, we deem it proper to restore the issue to the file of the Assessing Officer with a direction