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)

Section 2(47) of the Income Tax Act, 1961 because of the defective title and as a result the assessee was not holding any asset and hence, investment could not be construed as a capital asset based on the dictum that no one can give a title better than what he himself has. 8. Can an amount be taxed merely

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

34, Sector-1, Assessee Geetanjali Nagar, Raipur PAN/GIR No. ABUPT1550H Status Ind. District/Circle/Range Raipur/Wd 3(1)/Range-3 Assessment year in respect of 2013-14 which it is proposed to issue notice u/s.148 There is credible information in possession that assessee Shri Vijay Tandon has sold a piece of plot admeasuring area of 2420 sq ft, situated at Near Vidya Hospital

M/S SMS SHIVNATH INFRASTRUCTURE PVT LTD,DURG(CG) vs. THE PR. COMMISSIONER OF INCOME TAX-2, RAIPUR (CG)

In the result, appeal of the revenue in ITA No

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita No.87/Rpr/2017 (ननधाारण वषा / Assessment Year :2012-2013) Acit-2(1), Bhilai Vs M/S Sms Shivnath Infrastructure Pvt Ltd.,Toll Plaza, Near Dhamdhanaka, Durg. Pan No. :Aadcs 2258 Q (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & आयकर अऩीऱ सं./Ita No.107/Rpr/2016 (ननधाारण वषा / Assessment Year :2012-2013) M/S Sms Shivnath Infrastructure Vs Pr.Cit-2, Raipur Pvt Ltd.,Toll Plaza, Near Dhamdhanaka, Durg. Pan No. :Aadcs 2258 Q (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

Capital Gains. Income under the head business and profession was fully claimed as deduction U/s 80lA for Rs. 19,17,84,203/-. Tax was paid U/s 115JB of the Act. The 17 ITA No.87/RPR/2017 & ITA No.107/RPR/2016 Appellant had during the year utilized bank loan for granting Inter Corporate Deposit ("ICD") of Rs. 1,07,70,00,000/- on which

THE ASSISTANT COMMISSIONER OF INCOME-TAX-2(1)BHILAI, BHILAI(CG) vs. M/S SMS SHIVNATH INFRASSTRUCTURE PVT LTD., DURG, DURG(CG)

In the result, appeal of the revenue in ITA No

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita No.87/Rpr/2017 (ननधाारण वषा / Assessment Year :2012-2013) Acit-2(1), Bhilai Vs M/S Sms Shivnath Infrastructure Pvt Ltd.,Toll Plaza, Near Dhamdhanaka, Durg. Pan No. :Aadcs 2258 Q (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & आयकर अऩीऱ सं./Ita No.107/Rpr/2016 (ननधाारण वषा / Assessment Year :2012-2013) M/S Sms Shivnath Infrastructure Vs Pr.Cit-2, Raipur Pvt Ltd.,Toll Plaza, Near Dhamdhanaka, Durg. Pan No. :Aadcs 2258 Q (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

Capital Gains. Income under the head business and profession was fully claimed as deduction U/s 80lA for Rs. 19,17,84,203/-. Tax was paid U/s 115JB of the Act. The 17 ITA No.87/RPR/2017 & ITA No.107/RPR/2016 Appellant had during the year utilized bank loan for granting Inter Corporate Deposit ("ICD") of Rs. 1,07,70,00,000/- on which

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

MAYA DEVI AGRAWAL, RAIPUR,RAIPUR vs. INCOME TAX OFFICER-1(3), RAIPUR, RAIPUR

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

Bench: Shri Ravish Soodआयकर अपील सं. / Ita No. 193/Rpr/2023 "नधा"रण वष" / Assessment Year : 2008-09 Maya Devi Agrawal Near Dena Bank, Dupan Para Kharora, Raipur (C.G.)-493 225 Pan : Acipa5876A .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-1(3), Raipur (C.G.) ……""यथ" / Respondent

capital gain (LTCG) of Rs.2,21,602/-]. Return of income filed by the assessee was processed as such u/s. 143(1) of the Act. 3. Original assessment was, thereafter, framed by the A.O. vide his order passed u/s. 143(3) of the Act dated 02.12.2010, wherein income of the assessee was assessed at Rs.4,42,070/- (including LTCG of Rs.2

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 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 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 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

Capital gain and/or (d) income from other sources; And who fall within the territorial jurisdiction of the Raipur District beyond the municipal limits and Birgaon Nagar Palika. (2) All companies and their directors having registered office or principal place of business falling within the territorial jurisdiction of Income Tax Officer-1(1), Raipur and Income Tax Officer-1(2), Raipur

AARTI SPONGE AND POWER LTD.,RAIPUR vs. PR. COMMISSIONER OF INCOME TAX, RAIPUR - 1, RAIPUR

In the result, appeal of the assessee stands dismissed

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

capital gain at the rate or 20%. Therefore, no prejudice was caused to the Revenue. Similar contention was raised by the assessee by submitting reply to the notice under section 263 of the Act, however, the explanation of the assessee was not found to be acceptable by the learned Pr. CIT in absence of furnishing of any document in support

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.

capital expenditure by the A.O, which, therein, had been upheld by the CIT(Appeals) is primarily based on the fact that such approach was adopted by the A.O while framing assessment in the case of CSEB for years prior to A.Y.2009-10. We are of the considered view that now when in the case of CSEB for A.Y.2004-05 the matter

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.

capital expenditure by the A.O, which, therein, had been upheld by the CIT(Appeals) is primarily based on the fact that such approach was adopted by the A.O while framing assessment in the case of CSEB for years prior to A.Y.2009-10. We are of the considered view that now when in the case of CSEB for A.Y.2004-05 the matter

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

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

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

ASSISTANT COMMISSIONER OF INCOME TAX, (CENTRAL)-I, RAIPUR vs. MESERS CHHATTISGARH STEEL & POWER LIMITED, RAIPUR

In the result, appeal of the revenue in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita Nos.91 & 92/Rpr/2020 "नधा"रण वष" / Assessment Years : 2012-13 & 2013-14 The Assistant Commissioner Of Income Tax, Central Circle-1, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Chhattisgarh Steel & Power Limited. 142, Sahid Smarak, G.E Road, Raipur (C.G.) Pan : Aaccc7479G ……""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

ASSISTANT COMMISSIONER OF INCOME TAX (CENTRAL)-I, RAIPUR vs. MESERS CHHATTISGARH STEEL & POWER LIMITED, RAIPUR

In the result, appeal of the revenue in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita Nos.91 & 92/Rpr/2020 "नधा"रण वष" / Assessment Years : 2012-13 & 2013-14 The Assistant Commissioner Of Income Tax, Central Circle-1, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Chhattisgarh Steel & Power Limited. 142, Sahid Smarak, G.E Road, Raipur (C.G.) Pan : Aaccc7479G ……""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

SHUBHRA KAUSHIK, BILASPUR,BILASPUR vs. ITO, WARD 1(2), BILASPUR, BILASPUR

Bench: Shri Partha Sarathi Chaudhury, Jm & Shri Arun Khodpia, Am आयकर अपील सं. / Ita No: 563/Rpr/2025 (िनधा"रण वष" Assessment Year: 2011-12)

Gain on sale of agriculture land situated at Gram Mopka which is outside the limits of municipality and do not come under the definition of Sec 2(14) as Capital Asset. 4. That the Ld. Assessing officer has erred in making the addition of Rs.26,34,500/- by applying the provision of section