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. Sub-clause (iii) of section 47 of the Act excludes application of section 45 of the Act in case of certain transfers. By no application of section 48 of the Act, such exclusion can be ignored. Section 48 of the Act only aims to provide for formula for computation of income chargeable as capital

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

45 ; (b) if the cost of the new asset is less than the net consideration in respect of the original asset, so much of the capital gain as bears to the whole of the capital gain the same proportion as the cost of the new asset bears to the net consideration, shall not be charged under section

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

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:

45(2) are applied then in such a situation the CIT is not allowed to exercise its power u/s263 merely because the AO has accepted the capital gain declared by the assessee. Jai Gurudev Infrastructure Pvt Ltd Vs. PCIT AY : 2015-16 Hence, in the facts and circumstances of the case, the impugned ex-parte order passed

SURESH CHAND SURANA,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX-4(1), RAIPUR

In the result, appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri N. K. Choudhryआयकर अपील सं./I.T.A. No. 25/Rpr/2021) ("नधा"रण वष" / Assessment Year : 2016-17)

gains to the extent invested in the new residential house is not chargeable to tax under section 45 of the Act. The existing provisions contained in sub-section (1) of section 54F, inter alia, provide that where 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:

Section 45 of Income Tax Act, provides that, any profit or gains arising from the transfer of a capital asset

ASSISTANT COMMISSIONER OF INCOME TAX-1(1),, RAIPUR vs. SHRI SHARAD GOEL, RAIPUR

In the result appeal of the revenue stands dismissed, in terms of our observations herein above

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

Capital Gain Tax. Further, as per section 45(3) of the income tax act, 1961 "The profit and gains arising

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

I.T.O. WARD -1(1), RAIPUR (CG) vs. SMT SHEELA CHAKOLE, RAIPUR

In the result, appeal filed by the revenue is dismissed

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

45,000/- claiming it to be deposited in capital gain account. The Assessing Officer opined that the date of deposit into a specified Capital Gain Account was 08.11,2011 which was beyond the due date of filing of return u/s 139(1). In response to Assessing officer’s query, the assessee submitted a letter dated 20.1.2014, the contents of which

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

45,505/-. Whereas the capital gain shown by the assessee in her return of income is Rs.2,21,602/-. Considering the facts and circumstances of the case, I have reason to believe that income of Rs. 6,23,903/- chargeable to tax has escaped assessment and the case is required to be reopened u/s 147 of the Act. Raipur Income

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

45,171/-] against the Long Term Capital Gain (LTCG) on sale of immovable properties. The A.O observed that the assessee had during the subject year sold three properties, as under: S. No. Transaction Transaction Amt. Transaction Name of Amount As per A/c. dated in Books purchaser of A/c. party 1. 11857000/- 10840100/- 21/07/2014 Balaji Builders 2. 23064000/- 23064000/- 02/09/2014 Zodiac

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.)

45 ITR 206 (SC) and has assailed the addition under discussion as "tantamount to breach of Principle of Natural Justice". 5.5.10. The appellant also contends that "the assessee has earned short term capital gain of Rs.602532/-, short term capital loss of Rs.556736/- and intraday profit of Rs.46804/-. thus, in total the assessee has earned only 92600/- on which taxes were

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.)

45 ITR 206 (SC) and has assailed the addition under discussion as "tantamount to breach of Principle of Natural Justice". 5.5.10. The appellant also contends that "the assessee has earned short term capital gain of Rs.602532/-, short term capital loss of Rs.556736/- and intraday profit of Rs.46804/-. thus, in total the assessee has earned only 92600/- on which taxes were

THE DY. CIT-1(1),, RAIPUR (CG) vs. RAKESH SARAOGI & SONI (HUF),, RAIPUR (CG)

Bench: Shri N.K. Billaiya & Shri Ram Lal Negi)

Capital Gains from the sale of the impugned scrips was treated as income from undisclosed sources. 11. In his statement and the related enquiries, there is nothing on record to suggest that the brokers have given accommodation entries to the assessee. Nor there is any reference to the transactions done by the assessee. The A.O. has simply presumed that

DY. C.I.T.1(2), RAIPUR (CG) vs. M/S GODAWARI POWER & ISPAT LTD.,, RAIPUR (CG)

In the result, the appeal filed by the Revenue is partly allowed for

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2011-12 Dcit- 1(2), Godawari Power & Ispat Ltd., Raipur (Cg). Plot No.482/2, Industrial Growth Vs. Centre, Phase- 1, Siltara, Raipur (Cg).

gain derived from the business of generation of power and consequently, eligible for deduction u/s 80-IA(4) of the I.T. Act. Relying on various decisions including the decision of the Hon’ble Madras High Court in the case of Fenner (India) Ltd. vs. CIT reported in 241 ITR 803, decision of the Hon'ble Supreme Court in the case

MANISH SHUKLA,RAIGARH(CG) vs. ASSTT.COMMISSIONER OF INCOME-TAX -1(1), BILASPUR(CG)

In the result, the appeal filed by the Assessee is allowed

Bench: Shri N.K. Billaiya & Shri Ram Lal Negi)

Section 45(2) of the Act, the long term capital gain was computed at Rs. 16.65 lacs. The assessee claimed

SHRI ANAND KISHORE BAGREE,RAIPUR vs. INCOME TAX OFFICER , WARD 4(4), RAIPUR

In the result, appeal of the assessee is allowed

capital gain. The Ld AO has relied upon the investigation report of investigation wing, Calcutta and suspension of trading of Sunbright Stock Broking Ltd due to surveillance measures, the same aspect has further demonstrated by the AO by affixing screen shots of the suspension of the said company on account surveillance by the SEBI. Contention of the AO was accepted

PANCHSHEEL SOLVENT PVT. LTD., RAJANANDGAON,RAJANANDGAON vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, RAIPUR, RAIPUR

Appeal is allowed, partly for statistical purposes

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं. / Ita No: 110/Rpr/2024 (िनधा"रण वष" Assessment Year: 2016-17)

Section 143(3) of the Income Tax Act, dated 28.12.2018. 2 Panchsheel Solvent Pvt. Ltd., Rajnandgaon vs ACIT, Central Circle-2, Raipur 2. The grounds of appeal raised by the assessee, reads as under: 1. That the order of the Learned Commissioner (appeals) is arbitrary and illegal and against the principal of natural justice. 2. For the reason that