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:

70,00,000/-, seven villas valued at Rs. 2,25,75,000/-, two flats valued at Rs. 53,87,200/- and two shops valued at Rs. 5,54,400/- totaling to Rs. 5,55,16,600/- as sale consideration and after deducting indexed acquisition cost of land at Rs. 1,58,39,316/- has computed Rs. 3

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1(1), BILASPUR vs. MESERS NARMADA DRINKS PRIVATE LIMITED, BILASPUR

In the result ground No. 2 & 3 of the appeal of the revenue stands rejected

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am (Ita No. 89/Rpr/2020) (Assessment Year: 2015-16) Deputy Commissioner Of Income Tax, Vs M/S Narmada Drinks Private Limited Circle-1(1), Aayakar Bhawan, Sirgitti Industrial Area, Tifra, Bilaspur Mahima Complex, Bilaspur (C.G.) (C.G.) Pan: Aaacn5880C (अपीलाथ" /Applicant) (""यथ" / Respondent) .. िनधा"रती क" ओर से /Assessee By : Shri R.B. Doshi, Ca राज"व क" ओर से /Revenue By : Shri V.K. Singh, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 21.09.2023 घोषणा क" तार"ख/Date Of Pronouncement : 08.11.2023

capital and no borrowed funds were utilized for making investments. Regarding the sufficiency of own funds for making the investments in securities for Rs 40,62,00,00 for the year under consideration the appellant during the assessment and in appeal has placed relevant material on record. Relying on the decision of the Hon'ble Bombay High Court

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)

gains arising from the transfer of a capital asset by a person to a firm in which he is or becomes a partner or member, by way of capital contribution or otherwise, shall be chargeable to tax as his income of the previous year in which such transfer takes place and, for the purpose of section 48, the amount recorded

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)

70,00,000/- which was adjusted against the share issued to the assessee by M/s. Rashi Steel & Power Ltd. The assessee has considered the difference in sale consideration and cost of acquisition as its STCG from transaction of land and has claimed the CO No.10/RPR/18 exemption of entire amount of Rs.7,79,92,514/- on account of sale of agricultural

FIVE STARCONSTRUCTION COMPANY,BHILAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 1(1), BHILAI

The appeal of the assessee is partly allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.45/Rpr/2018 "नधा"रण वष" / Assessment Year : 2014-15 Five Star Construction Company Plot No.96-97, Light Industrial Area, Chawani Chowk, Bhilai (C.G)-490026 Pan : Aaaff4316L .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax-1(1), Bhilai (C.G.) ……""यथ" / Respondent

capital gain (LTCG) on sale of 18,98,410/- land by the assessee firm which was claimed as exempt. 10 Five Star Construction Company Vs. DCIT-1(1), Bhilai Accordingly, the A.O after making the aforesaid additions /disallowances vide his order passed under Sec.144 r.w.s. 143(3), dated 31.12.2016 assessed the income of the assessee firm

DEPUTY COMMISSIONER OF INCOME TAX-1(1), RAIPUR, RAIPUR vs. USHA DEVI SINGHANIA, RAIPUR

In the result, appeal of the revenue in ITA No

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos.269 & 270/Rpr/2025 "नधा"रण वष" / Assessment Years : 2013-14 & 2015-16 The Deputy Commissioner Of Income Tax-1(1), Raipur (C.G.)

capital gains which the assessee failed to offer in ITR filed for the AY 2013-14. 3. Aggrieved by the said assessment order the assessee filed appeal before the First Appellate Authority (FAA) raising several grounds of appeal. The FAA after considering all the aspects (factual and legal) of the case, partly allowed the appeal of the assessee subject

DEPUTY COMMISSIONER OF INCOME TAX-1(1), RAIPUR vs. USHA DEVI SINGHANIA, RAIPUR

In the result, appeal of the revenue in ITA No

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos.269 & 270/Rpr/2025 "नधा"रण वष" / Assessment Years : 2013-14 & 2015-16 The Deputy Commissioner Of Income Tax-1(1), Raipur (C.G.)

capital gains which the assessee failed to offer in ITR filed for the AY 2013-14. 3. Aggrieved by the said assessment order the assessee filed appeal before the First Appellate Authority (FAA) raising several grounds of appeal. The FAA after considering all the aspects (factual and legal) of the case, partly allowed the appeal of the assessee subject

GHANSHYAM LAL, BILASPUR,BILASPUR vs. PR. COMMISSIONER OF INCOME TAX, RAIPUR-1, RAIPUR, RAIPUR

In the result, appeal of the assessee is dismissed

Bench: Shri R.K Panda & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita No.241/Rpr/2025 "नधा"रण वष" / Assessment Year : 2021-22 Ghanshyam Lal Ward No.06, Chhatauna Bilaspur (C.G.)-495 222 Pan: Ajupl0084A ........अपीलाथ" / Appellant बनाम / V/S. The Pr. Commissioner Of Income Tax, Raipur-1 (C.G.)

70,000/- (+) Rs.10,90,000/- (+) Rs.37,08,200/-]. In this regard, it was observed by the Pr. CIT that Bodri is within the jurisdiction of the Bilaspur Municipality and therefore, lands sold fall within the Municipal limits of Bilaspur and accordingly, qualifies as capital asset u/s.2(14)(iii) (b) of the Act. It was therefore evident that all the transferred

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

70 of the paper book which is the submission before the A.O i.e. ITO, Ward-1, Raigarh, dated 27.12.2016, wherein at Para 4, the assessee had requested the A.O to refer the matter to the DVO and the same is extracted as follows: “4. The calculation of capital gain under 50 C of the act is not justified

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

70,000/- Total income Rs.2,20,464/- Long-Term Capital Gains Rs.2,21,602//- 11. Based on the aforesaid factual position, it transpires that the transaction of sale of property under consideration a/w. complete details of the cost of acquisition and improvement had not only been disclosed by the assessee in her return of income but the same had also

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)

3. Commission income i) Difference of Rs. 69,03,735/- was on account of service tax, which is separately credited in books. Commission income was only Rs. 5,58,55,450/-. ii) Commission bill at PN 101 to 103 of PB. Ledger accounts of commission at PN 99 of PB, legder account of party at PN 100 of PB showing

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 and income from other sources. Apart from the said incomes, the Assessee also had Income under the head business and profession amounting to Rs. 23,88,87,498 which was fully claimed as deduction U/s 80lA of the Income Tax Act, 1961 ("Act"). Tax was paid U/s 115JB of the Act. 3. The Assessee had during the immediately

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 and income from other sources. Apart from the said incomes, the Assessee also had Income under the head business and profession amounting to Rs. 23,88,87,498 which was fully claimed as deduction U/s 80lA of the Income Tax Act, 1961 ("Act"). Tax was paid U/s 115JB of the Act. 3. The Assessee had during the immediately

INCOME TAX OFFICER, CIVIL LINES, RAIPUR vs. SANDEEP JHABAK, RAIPUR

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.418/Rpr/2024 Co No.16/Rpr/2024 "नधा"रण वष" / Assessment Year : 2013-14 The Income Tax Officer-4(1), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. Shri Sandeep Jhabak M/S. Allied Traders, Jhabak Bada, Near Tatyapara, Kamasipara (C.G.)-492 001 Pan: Adnpj2221L ……""यथ" / Respondent

section 143(3) r.w.s. 147 of the Act ought to have been quashed as bad in law, highly illegal, suffering from legal infirmities, arbitrary and nullity in the eyes of law and hence, it is requested that the re-assessment order may please be quashed and set aside. 2. That the Ld.CIT(A) has grossly erred in not quashing & annulling

SHRI SHRI SHIV SHANKAR AGRAWAL,KORBA(CG) vs. THE INCOME TAX OFFICER-1, KORBA(CG)

In the result appeal of the assessee is partly allowed for statistical purposes, in terms of our observations herein above

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am (Ita No. 270/Rpr/2016) (Assessment Year: 2008-09)

gains of business" has to be computed in accordance with the method of accounting regularly employed by the assessee. Furthermore, for rejecting the books of accounts under condition no.2, the Learned AO has to demonstrate that the accounts are not correct and complete as there exist serious defects in maintenance of accounts, irrespective of whether accounting methods or accounting standards

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-(1), RAIPUR, RAIPUR vs. SHRI BAJRANG POWER AND ISPAT LTD., 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. 201/Rpr/2022 "नधा"रण वष" / Assessment Years : 2012-13 The Assistant Commissioner Of Income Tax, Circle-1(1), Raipur. .......अपीलाथ" / Appellant बनाम / V/S. Shri Bajrang Power & Ispat Limited, 00, Vill. Borjhara, Urla Guma Road, Raipur-493221. Pan : Aaccb2944D ……""यथ" / Respondent

70,84,210/- u/s 115JB of the I.T. Act. During the course of assessment proceedings, the Assessing Officer noted that the assessee has shown to have received an amount of Rs.3,41,28,862/- as subsidy and claimed the same as capital receipt. On being questioned by the Assessing Officer to justify the claim, it was submitted that

SOUTH EASTERN COALFIELDS LIMITED,BILASPUR vs. JT. COMMISSIONER OF INCOME TAX (OSD), CIRCLE-1(1), BILASPUR

Bench: Shri Ravish Sood & Shri Arun Khodpia

section 5, when it is received or deemed to be received by a person. All income for the purpose of charge of income-tax and computation of total income is required to be classified under distinct heads of income such as salaries, income from house property, profits and gains of business or profession, capital gains and income from other sources

THE DY. CIT- CIR.-1(1),, BILASPUR(CG) vs. SOUTH EASTERN COALFILDS LTD.,, BILASPUR(CG)

Bench: Shri Ravish Sood & Shri Arun Khodpia

section 5, when it is received or deemed to be received by a person. All income for the purpose of charge of income-tax and computation of total income is required to be classified under distinct heads of income such as salaries, income from house property, profits and gains of business or profession, capital gains and income from other sources

SOUTH EASTERN COALFIELDS LTD,BILASPUR(CG) vs. DY.. C.I.T.-1(1), BILASPUR(CG)

Bench: Shri Ravish Sood & Shri Arun Khodpia

section 5, when it is received or deemed to be received by a person. All income for the purpose of charge of income-tax and computation of total income is required to be classified under distinct heads of income such as salaries, income from house property, profits and gains of business or profession, capital gains and income from other sources