GREENONE CONSTRUCTION AND DEVELOPMENT PVT. LTD.,RAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, RAIPUR-1, RAIPUR

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

Bench: Shri Ravish Sood & Shri G D Padmahshaliआयकर अपील सं. / Ita No. 56/Rpr/2022 "नधा"रण वष" / Assessment Year : 2017-18 Greenone Construction & Development Private Limited C21/22, 1St Floor Shyam Market, Pandri, Raipur (C.G.)-492 004 Pan : Aafcg5846C .......अपीलाथ" / Appellant बनाम / V/S. The Pr. Commissioner Of Income Tax, Raipur-1(C.G.) ……""यथ" / Respondent

section 10(37) r.w. RECTLARR Act, 2013, therefore, there was no basis for the Pr. CIT to have held the order passed by the A.O u/s.143(3) dated 15.11.2019 as erroneous on the ground that he had wrongly allowed the assessee’s claim for exemption of capital gain under RECTLARR Act, 2013. 7. Per contra, the Ld. Departmental Representative

RAIPUR REALTY PVT LTD, RAIPUR,RAIPUR vs. INCOME TAX OFFICER WARD-3 (1), RAIPUR, RAIPUR

In the result, appeal of the assessee is allowed

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpiaआयकर अपील सं. / Ita No.241/Rpr/2024 "नधा"रण वष" / Assessment Year : 2017-18 M/S. Raipur Realty Pvt. Ltd. E-76, G.K. Chambers, Sector-2, Devendra Nagar, Raipur (C.G.) Pan: Aahcr0621C ........अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer Ward-3(1), Raipur (C.G.) ……""यथ" / Respondent

Capital Gains of ₹ 53,08,113/- pertaining to compensation received towards compulsory acquisition of his agricultural land under the Act of 1956 and paid tax to the tune of ₹ 24,30,521/- which was processed by the Central Processing Centre, Bengaluru and intimation order was issued exercising powers under Section 143(1)(a) of the IT Act wherein total income

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.

capital gain. The Hon'ble Supreme Court in the case CIT (Central), Kolkata vs Associated Industrial Development Company (P) Ltd.(82 ITR 586) observed that whether a particular holding of shares is by way investment or forms stock-in-trade, is a matter within the knowledge of the assessee, when he holds the shares and it should, in normal circumstances

RAHUL BAJPAI,IDGAH CHOWK vs. DCIT 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.345/Rpr/2023 "नधा"रण वष" / Assessment Year : 2015-16 Rahul Bajpai Idgah Chowk, Bilaspur Chhattisgarh-495 001 Pan: Aexpb4410L .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax, Circle-1(1), Bilaspur (C.G.) ……""यथ" / Respondent

Capital Gains; and (iv) tax credit mismatch. Admittedly, the examination of the difference/variance in the purchase consideration of the property i.e. land situated at Mouja : Khapargaunge, Bilaspur (admeasuring 206.143 Aq. Mtrs.) that was purchased by the assessee for a consideration of Rs.5 lacs as against the FMV/stamp duty value of Rs.55,65,900/- in the backdrop of Section

SHRIKANT SOMAWAR, RAIGARH,RAIGARH vs. INCOME TAX OFFICER-1, RAIGARH, RAIGARH

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

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpiaआयकर अपील सं. / Ita No.589/Rpr/2025 "नधा"रण वष" / Assessment Year : 2014-15 Shrikant Somawar Prop. Raigarh Gas Service, Gouri Shankar Mandir Road, Raigarh (C.G.)-496 001 Pan: Ajfps7436J ........अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-1, Raigarh (C.G.) ……""यथ" / Respondent

capital gain under section 50C is not justified on the basis of the fact that the property 4 Shrikant Somawar Vs. ITO-1, Raigarh (C.G.) is limited to restricted sale/purchase transactions because the assessee belong to scheduled tribe, hence affecting the market value of the property considerable. The contention of the assessee is not acceptable due to the fact that

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.)

capital loss of Rs.556736/- and intraday profit of Rs.46804/-. thus, in total the assessee has earned only 92600/- on which taxes were also paid. It clearly shows, that the assessee was not benefitted by the alleged price rigging done by Naresh J with an intent to bring his unaccounted income into their books of account without paying taxes

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.)

capital loss of Rs.556736/- and intraday profit of Rs.46804/-. thus, in total the assessee has earned only 92600/- on which taxes were also paid. It clearly shows, that the assessee was not benefitted by the alleged price rigging done by Naresh J with an intent to bring his unaccounted income into their books of account without paying taxes

ANISH VISHNOI, RAIPUR,RAIPUR vs. ITO WARD 1(1), RAIPUR, RAIPUR

In the result, appeal of the assessee is allowed

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita No.764/Rpr/2025 "नधा"रण वष" /Assessment Year : 2015-16 Anish Vishnoi New Bus Stand Baloda Bazar, Baloda Bazar S.O., Raipur (C.G.)-493 332 Pan: Aeapv0087J .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Ward-1(1), Raipur (C.G.) ……""यथ" / Respondent

Gain, by considering the land at Village Magarchaba as Capital Asset and taking the total sale consideration at Rs.34,12,620/- instead of Rs.17,28,000/- with a direction to AO to consider the actual Cost of Acquisition of Land despite acknowledging and accepting the submissions made by the appellant that agricultural land is rural agricultural land

CHHATTISGARH STATE POWER TRANSMISSION COMPANY LTD,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX-4(1), RAIPUR

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.81/Rpr/2020 "नधा"रण वष" / Assessment Year : 2011-12 Chhattisgarh State Power Transmission Company Ltd. Executive Director (Fin.), Csptcl, Second Floor, Sldc Building, Cseb Office Campus, Danginiya Raipur-492 013 (C.G.) Pan : Aadcc5773E .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-4(1), Raipur (C.G.) ……""यथ" / Respondent

gains. Under Section 2(24)(x), any sum received by the assessee from his employees as contributions to any provident fund/superannuation fund or any fund set up under the Employees’ State Insurance Act, 1948, or any other fund for the welfare of such employees constituted income. This is the reason why every assessee(s) M.M. Aqua Technologies Ltd. vs. Commissioner

CHHATTISGARH STATE POWER TRANSMISSION COMPANY LIMITED,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(1), RAIPUR

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.81/Rpr/2020 "नधा"रण वष" / Assessment Year : 2011-12 Chhattisgarh State Power Transmission Company Ltd. Executive Director (Fin.), Csptcl, Second Floor, Sldc Building, Cseb Office Campus, Danginiya Raipur-492 013 (C.G.) Pan : Aadcc5773E .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-4(1), Raipur (C.G.) ……""यथ" / Respondent

gains. Under Section 2(24)(x), any sum received by the assessee from his employees as contributions to any provident fund/superannuation fund or any fund set up under the Employees’ State Insurance Act, 1948, or any other fund for the welfare of such employees constituted income. This is the reason why every assessee(s) M.M. Aqua Technologies Ltd. vs. Commissioner

M/S FOOD HEALTH PVT. LTD.,RAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, RAIPUR-1, RAIPUR

In the result, the assessee's appeal in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpia

capital gain on the transfer of the lands, therefore, the same had rendered his A.Y.2017-18 order as erroneous in so far as it was prejudicial to the interest of the revenue u/s.263 of the Act for the following reasons: “1. Section 10 (37) is not applicable in case of the company assessee as it applies to individual and HUF only

M/S RAIPUR REALITY PVT. LTD.,RAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, RAIPUR-1, RAIPUR

In the result, the assessee's appeal in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpia

capital gain on the transfer of the lands, therefore, the same had rendered his A.Y.2017-18 order as erroneous in so far as it was prejudicial to the interest of the revenue u/s.263 of the Act for the following reasons: “1. Section 10 (37) is not applicable in case of the company assessee as it applies to individual and HUF only

M/S HERITAGE BUILDCON PVT. LTD.,RAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, RAIPUR-1,, RAIPUR

In the result, the assessee's appeal in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpia

capital gain on the transfer of the lands, therefore, the same had rendered his A.Y.2017-18 order as erroneous in so far as it was prejudicial to the interest of the revenue u/s.263 of the Act for the following reasons: “1. Section 10 (37) is not applicable in case of the company assessee as it applies to individual and HUF only

M/S M/S GOYAL CONSTRUCTION COMPANY, RAIPUR,RAIPUR (CG) vs. THE INCOME TAX OFFICER, 3(1),RAIPUR, RAIPUR (CG)

In the result, appeal of the assessee is partly allowed for statistical purposes in terms of my aforesaid observations

Bench: Shri Ravish Soodआयकर अपील सं./ Ita No. 17/Rpr/2017 "नधा"रण वष" / Assessment Year : 2012-13 M/S. Goyal Construction Company Shop No.213-214, Ii Floor, Crystal Arcade, Lodhipara Chowk, Raipur (C.G.) Pan : Aaffg9964N .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-3(1), Raipur (C.G.). ……""यथ" / Respondent

28 M/s. Goyal Construction Company Vs. ITO-3(1), Raipur 5. Income Tax Officer- (1) All persons [other than companies and 1(3), Raipur BPL-W-85- other than those assessable by 3 DCIT/ACIT-1(1) Raipur] whose total income includes (a) Income from house property and/or, (b) profits and gains of business or profession and/or; (c) Capital gain and/or

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 2(1), RAIPUR vs. VIJAYSHREE FATS & OIL PRODUCTS PRIVATE LIMITED , RAIPUR

Bench: Shri Ravish Sood & Shri G D Padmahshaliआयकर अपील सं. / Ita No.49/Rpr/2018 Co No.02/Rpr/2018 "नधा"रण वष" / Assessment Year : 2013-14 The Assistant Commissioner Of Income Tax, Circle-2(1), Raipur (C.G.) ........अपीलाथ" / Appellant बनाम / V/S. Vijayshree Fats & Oil Products Pvt. Ltd. Jawahar Nagar, Raipur (C.G.) Pan : Aabcv2584Q ……""यथ" / Respondent

sections there were no specific provision for slump sale, accordingly computation was made as per normal provision of income Tax Act, but after insertion of sec 2(42C) & 50B they clearly define the slump sale, accordingly there is no ambiguity in normal sale & slump sale. Accordingly CIT (A) has validly made their decision by applying the specific provision. 3. Basic

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.

28 below section 43(6) of the Act. Thus, the provisions of section Explanation 2B to section 43(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

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.

28 below section 43(6) of the Act. Thus, the provisions of section Explanation 2B to section 43(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

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

28-11-2023 आदेश / O R D E R Per Arun Khodpia, Accountant Member: The captioned two appeals are filed by the department pertains to same assessee against the different orders of Commissioner of Income Tax, Appeal, NFAC, Delhi, dated 07/12/2022 for AY 2014-15 & dated 15/12/2022 for AY 2016-17. Which in turn arose from the orders of ACIT