CHHATTISGARH STATE POWER GENERATION CO. LTD.,RAIPUR vs. DY. COMMISSIONER OF INCOME TAX-1(1), RAIPUR

In the result, the appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.16/Rpr/2017 "नधा"रण वष" / Assessment Year : 2009-10 Chhattisgarh State Power Generation Company Ltd. O/O. Executive Director-Finance Ground Floor, Vidyut Seva Bhawan, Daganiya, Raipur-492 001 (C.G.) Pan : Aadcc5772F .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-1(2), Raipur (C.G.) ……""यथ" / Respondent आयकर अपील सं. / Ita No.24/Rpr/2022 "नधा"रण वष" / Assessment Year : 2018-19 Chhattisgarh State Power Generation Company Ltd. Ground Floor, Vidyut Seva Bhawan, Daganiya, Raipur-492 001 (C.G.) Pan : Aadcc5772F .......अपीलाथ" / Appellant बनाम / V/S.

6) of the Act are not applicable in the present case. The aforesaid legal position is also fortified by the fact the WDV of the assets as per the Act which were transferred to the assessee are also not available, on account of the fact that all assets classifiable under one block sets formed part of that block of assets

THE CHHATTISGARH STATE POWER GENERATION COMPANY LIMITED, RAIPUR,RAIPUR (CG) vs. THE ASSTT. COMMISSIONER OF INCOME TAX 1(2),RAIPUR, RAIPUR (CG)

In the result, the appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.16/Rpr/2017 "नधा"रण वष" / Assessment Year : 2009-10 Chhattisgarh State Power Generation Company Ltd. O/O. Executive Director-Finance Ground Floor, Vidyut Seva Bhawan, Daganiya, Raipur-492 001 (C.G.) Pan : Aadcc5772F .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-1(2), Raipur (C.G.) ……""यथ" / Respondent आयकर अपील सं. / Ita No.24/Rpr/2022 "नधा"रण वष" / Assessment Year : 2018-19 Chhattisgarh State Power Generation Company Ltd. Ground Floor, Vidyut Seva Bhawan, Daganiya, Raipur-492 001 (C.G.) Pan : Aadcc5772F .......अपीलाथ" / Appellant बनाम / V/S.

6) of the Act are not applicable in the present case. The aforesaid legal position is also fortified by the fact the WDV of the assets as per the Act which were transferred to the assessee are also not available, on account of the fact that all assets classifiable under one block sets formed part of that block of assets

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 INCOMETAX, CIRCLE -2(1), RAIPUR vs. SHRI VAIBHAV 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

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:

capital gain. Further, this proviso provides for computation of income which is referred to in proviso to sub-clause (iii) of section 47 of the Act, and thus, would cover cases which are to be excluded from the purview of sub-clause (iii) of section 47 of the Act. As noted, the case on hand does not fall within

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:

2(14) of the Act, whereas, the assessee has never claimed that it was not a capital asset. The deduction under s.54B of the Act is admissible only in respect of urban agricultural land and rural agricultural land are otherwise also exempt from taxation. Hence, the PCIT has wrongly alleged inadequacy to enquiries on the face of tell- tale evidences

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:

6,489 fixed asset Bank interest 2,60,372 Provision for Deferred 10,656 tax Local Conveyance exp 58,420 Misc. exp 24,180 Office exp 32,892 Printing & Stationery 18,714 exps Provision for IT 84,873 Stock Insurance 984 Sundry balances w/off 2,379 Telephone exp 59,610 Travelling exp 62,140 Net Loss 81,66,127 Total

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-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

gains arising before the 1st day of April, 1946, or after the 31st day of March, 1948, and before the 1st day of April, 1956. Explanation 2.—The expression "accumulated profits" in sub- clauses (a), (b), (d) and (e), shall include all profits of the company up to the date of distribution or payment referred to in those sub-clauses

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

gains arising before the 1st day of April, 1946, or after the 31st day of March, 1948, and before the 1st day of April, 1956. Explanation 2.—The expression "accumulated profits" in sub- clauses (a), (b), (d) and (e), shall include all profits of the company up to the date of distribution or payment referred to in those sub-clauses

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 (LTCG) of Rs,15,92,998/- (after claim of deduction u/s 54F of Rs. 2,59,08,966/-), as under: 4 DCIT-2(1) Vs. Radheshyam Agrawal On being queried as regards the deduction that was claimed u/s.54F of the Act of Rs.2,59,08,966/-, it was the claim of the assessee that the same was with

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)

2(24), s. 5 or any other provisions of the Act: further, it is a case of diversion of income by overriding title and hence it is not taxable in the hands of the assessee. (ii) Rajeev Biswas Vs. Union of India & Ors, (2022) 6 NYPCTR 1105 (Cal) Held : Section 9, read with sections 5 and 10(6)(viii

ASSISTANT COMMISSIONER OF INCOME TAX (CENTRAL CIRCLE)-1, RAIPUR vs. M/S. CHHATTISGARH STEEL & POWER LIMITED, RAIPUR

In the result, appeal of the revenue is partly allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./ Ita No. 96/Rpr/2021 "नधा"रण वष" / Assessment Year : 2011-12

capital of Rs.41 crore and reserves & surplus of Rs.15.74 crore aggregating to Rs.56.74 crore which were more than the investment made by it in exempt dividend income yielding shares, therefore, no disallowance of any part of interest expenditure was called for in its case. Ld. AR in support of her aforesaid contention that no disallowance u/s.14A can be made

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 :

2 proceedings, the AO found that the assessee has shown the house property income at Rs.70,019/-, income from long term capital gain at Rs.19,80,027/- and income from other sources at Rs.32,32,450/-. On verification of one of the reasons for selection of case for scrutiny, the AO found that during the year under consideration the assesse

SHRI SOMNATH SAHU,RAIPUR vs. INCOME TAX OFFICER, WARD 2(1), RAIPUR

In the result, appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 243/Rpr/2017 & 52/Rpr/2018 "नधा"रण वष" / Assessment Year : 2008-09 Shri Somnath Sahu, H. No.2382, Near Shitala Mandir, Tatibandh, G.E. Road, Raipur (C.G.) Pan : Gdkps5958G .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Ward-2(1), Raipur (C.G.) ……""यथ" / Respondent Assessee By :Shri Prafulla Pendse, Ar Revenue By :Shri G.N Singh, Sr. Dr

capital gain (LTCG) of Rs.95,41,384/- on sale of the land in question to tax in the hands of the assessee. 5. Aggrieved, the assessee carried the matter in appeal before the CIT(Appeals) but without any success. 6. The assessee being aggrieved with the order of the CIT(Appeals) has carried the matter in appeal before

SHRI SOMNATH SAHU,RAIPUR vs. INCOME TAX OFFICER, WARD 2(1), RAIPUF

In the result, appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 243/Rpr/2017 & 52/Rpr/2018 "नधा"रण वष" / Assessment Year : 2008-09 Shri Somnath Sahu, H. No.2382, Near Shitala Mandir, Tatibandh, G.E. Road, Raipur (C.G.) Pan : Gdkps5958G .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Ward-2(1), Raipur (C.G.) ……""यथ" / Respondent Assessee By :Shri Prafulla Pendse, Ar Revenue By :Shri G.N Singh, Sr. Dr

capital gain (LTCG) of Rs.95,41,384/- on sale of the land in question to tax in the hands of the assessee. 5. Aggrieved, the assessee carried the matter in appeal before the CIT(Appeals) but without any success. 6. The assessee being aggrieved with the order of the CIT(Appeals) has carried the matter in appeal before

RAHUL BAJPAI,IDGAH CHOWK vs. ACIT CIRCLE 1(1), SHRI RAM PLAZA

In the result, appeal of the assessee is partly allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.348/Rpr/2023 "नधा"रण वष" / Assessment Year: 2014-15 Rahul Bajpai Idgah Chowk, Bilaspur Chhattisgarh-495 001 Pan: Aexpb4410L .......अपीलाथ" / Appellant बनाम / V/S.

6. The A.O in order to verify the authenticity of the aforesaid claim of the assessee referred to his return of income for the immediately preceding year i.e. A.Y.2013-14, which revealed the “closing stock” (as on 31.03.2013) at Rs.Nil. Accordingly, the A.O based on the aforesaid facts that had surfaced on a perusal of the return of income

CHHATTISGARH SAHAKARI SAKH SAMITI MARYADIT, BHILAI,DURG vs. INCOME TAX OFFICER, WARD-1(2), BHILAI, DURG

In the result, appeals filed by the assessee in ITA No 284, 286 &

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am (Ita No.284,285,286,287/Rpr/2023) (Assessment Year:2013-14,2017-18,2018-19,2020-21)

capital, if not immediately required to be lent to the members, they cannot keep the said amount idle. If they deposit this amount in bank so as to earn interest, the said interest income is attributable to the profits and gains of the business of providing credit facilities to its members only. The society is not carrying on any separate