D.C.I.T. CENTRAL CRICLE,, RAIPUR vs. DEVI IRON & POWER LIMITED, RAIPUR

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 267 & 268/Rpr/2014 Co Nos. 30 & 31/Rpr/2015 "नधा"रण वष" / Assessment Years : 2011-12 & 2012-13 The Deputy Commissioner Of Income Tax, Central Circle, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. Mahamaya Tower, 3Rd & 4Th Floor, In Front Of Anupam Nagar, Near Varun Honda, G.E. Road, Raipur (C.G.) Pan : Aaeca3704G ……""यथ" / Respondent आयकर अपील सं. / Ita No.101/Rpr/2017 "नधा"रण वष" / Assessment Year : 2013-14 The Assistant Commissioner Of Income Tax (Central)-2, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. B-08-09, Sector-C, Industrial Area, Urla, Sarora, Raipur (C.G.) Pan : Aabcd9753D ……""यथ" / Respondent Co Nos.30 & 31/Rpr/2015

capital and share premium reserve of Rs.45,00,000/- and Rs. 10,51,20,000/- as on 31.3.2006 and that the ITO, Ward-1(1), Kolkata had conducted enquiries with the various shareholders of Callidora Traders Private Limited by issuing notices u/s 133(6) and verifying their responses. I find that ITO, Ward-1(1), Kolkata was satisfied with

D.C.I.T. CENTRAL CRICLE,, RAIPUR vs. DEVI IRON & POWER PVT LIMITED, RAIPUR

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 267 & 268/Rpr/2014 Co Nos. 30 & 31/Rpr/2015 "नधा"रण वष" / Assessment Years : 2011-12 & 2012-13 The Deputy Commissioner Of Income Tax, Central Circle, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. Mahamaya Tower, 3Rd & 4Th Floor, In Front Of Anupam Nagar, Near Varun Honda, G.E. Road, Raipur (C.G.) Pan : Aaeca3704G ……""यथ" / Respondent आयकर अपील सं. / Ita No.101/Rpr/2017 "नधा"रण वष" / Assessment Year : 2013-14 The Assistant Commissioner Of Income Tax (Central)-2, Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Devi Iron & Power Pvt. Ltd. B-08-09, Sector-C, Industrial Area, Urla, Sarora, Raipur (C.G.) Pan : Aabcd9753D ……""यथ" / Respondent Co Nos.30 & 31/Rpr/2015

capital and share premium reserve of Rs.45,00,000/- and Rs. 10,51,20,000/- as on 31.3.2006 and that the ITO, Ward-1(1), Kolkata had conducted enquiries with the various shareholders of Callidora Traders Private Limited by issuing notices u/s 133(6) and verifying their responses. I find that ITO, Ward-1(1), Kolkata was satisfied with

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

Unexplained cash credit u/s.68- 6,56,248/- para-21 16 Five Star Construction Company Vs. DCIT-1(1), Bhilai 7,70,75,625/- TOTAL BUSINESS INCOME 10,40,38,104/- LONG TERM CAPITAL GAIN

DCIT-1(1), BHILAI, BHILAI vs. VIJAYA DESHLAHRA, INDORE

In the result, ITA No. 92/RPR/2025 & C

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpia

capital gains within a short span of time. The Assessing Officer (for short, "AO") held that assessee was one of such beneficiaries who got huge gains through sale of stocks and therefore there was escapement of income. Accordingly, notice was issued u/s. 148 on 06.05.2020 after taking prior approval from the competent authority. In response to the notice, the assessee

DCIT-1(1), BHILAI, BHILAI vs. VIJAYA DESHLAHRA, INDORE

In the result, ITA No. 92/RPR/2025 & C

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpia

capital gains within a short span of time. The Assessing Officer (for short, "AO") held that assessee was one of such beneficiaries who got huge gains through sale of stocks and therefore there was escapement of income. Accordingly, notice was issued u/s. 148 on 06.05.2020 after taking prior approval from the competent authority. In response to the notice, the assessee

DCIT-1(1), BHILAI vs. VIJAYA DESHLAHRA, INDORE

In the result, ITA No. 92/RPR/2025 & C

Bench: Shri Partha Sarathi Chaudhury & Shri Arun Khodpia

capital gains within a short span of time. The Assessing Officer (for short, "AO") held that assessee was one of such beneficiaries who got huge gains through sale of stocks and therefore there was escapement of income. Accordingly, notice was issued u/s. 148 on 06.05.2020 after taking prior approval from the competent authority. In response to the notice, the assessee

SHRI SHRI SUSHIL KUMAR AGRAWAL, KORBA,KORBA(CG) vs. THE JOINT COMMISSIONER OF INCOME TAX,RANGE KORBA, KORBA(CG)

In the result, appeal of the assesee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 93 & 94/Rpr/2017 "नधा"रण वष" / Assessment Years: 2010-11 & 2011-12 Shri Sushil Kumar Agrawal, Prop. Of M/S. Shrikishan & Co., T.P Nagar, Korba (C.G.) Pan : Acgpa4350B .......अपीलाथ"/Appellant बनाम / V/S. The Joint Commissioner Of Income Tax, Korba (C.G.) ……""यथ" / Respondent

capital account, therefore, no infirmity could be related with the view taken by the A.O who had rightly made an addition of the amount in question. 9. Apropos the addition of Rs.9,82,649/- which as claimed by the assessee was a refund received by him on account of maturity of LIC and was exempt u/s.10

SHRI SHRI SUSHIL KUMAR AGRAWAL, KORBA,KORBA(CG) vs. THE JOINT COMMISSIONER OF INCOME TAX,RANGE KORBA, KORBA(CG)

In the result, appeal of the assesee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 93 & 94/Rpr/2017 "नधा"रण वष" / Assessment Years: 2010-11 & 2011-12 Shri Sushil Kumar Agrawal, Prop. Of M/S. Shrikishan & Co., T.P Nagar, Korba (C.G.) Pan : Acgpa4350B .......अपीलाथ"/Appellant बनाम / V/S. The Joint Commissioner Of Income Tax, Korba (C.G.) ……""यथ" / Respondent

capital account, therefore, no infirmity could be related with the view taken by the A.O who had rightly made an addition of the amount in question. 9. Apropos the addition of Rs.9,82,649/- which as claimed by the assessee was a refund received by him on account of maturity of LIC and was exempt u/s.10

SUSHIL KUMAR AGRAWAL,KORBA vs. DEPUTY COMMMISSIONER OF INCOME TAX, CIRCLE, KORBA, KORBA

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

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita No.148/Rpr/2018 "नधा"रण वष" / Assessment Year : 2012-13 Shri Sushil Kumar Agrawal, Prop. Of M/S. Shrikishan & Co., Darri Road, Korba (C.G.) Pan : Acgpa4350B .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax Circle-Korba (C.G.) ……""यथ" / Respondent

unexplained cash credit u/s.68 of the Act: Rs.14,65,920/-. 6. We have heard the ld. authorized representatives of both the parties, perused the orders of the lower authorities and the material available on record, as well as considered the judicial pronouncements that have been pressed into service by them to drive home their respective contentions. 7. Apropos the disallowance

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, unexplained cash credit and short addition on account of commission received. These are the reasons, which led the learned

SUNITA SHERWANI, RAIPUR,RAIPUR vs. INCOME TAX OFFICER-4(1), RAIPUR, RAIPUR

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

Bench: Shri Ravish Soodआयकर अपील सं. / Ita No.506/Rpr/2024 "नधा"रण वष" / Assessment Year : 2017-18 Smt. Sunita Sherwani S-19, Rajeev Nagar, Raipur (C.G.)-492 001 Pan: Attps9943C .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-4(1), Raipur (C.G.) ……""यथ" / Respondent

capital of earlier years. In this regard, it was submitted that sum of Rs.7,65,932/- was kept in cash out of earlier years income and Rs. 3,27,968/- was deposited out of this years income". The submission of the assessee can not be accepted because no person shall keep such high cash in home with all risk

SEEMA DEVI AGRAWAL,RAIGARH, CHHATTISGARH vs. INCOME TAX OFFICER, BILASPUR

In the result, appeal of the assessee is allowed

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita No.250/Rpr/2025 "नधा"रण वष" /Assessment Year : 2015-16 Smt. Seema Devi Agrawal C/O. Sunil Kumar Agrawal Sewa Kund Road, Raigarh-496 001 (C.G.) Pan: Affpa4990K .......अपीलाथ" / Appellant बनाम / V/S.

gain arising out of sale of the property was not disclosed by the assessee. Though correctness of the investment so far as purchase is concerned is there as per record, however, there has been no sale transactions entered by the assessee at all during F.Y.2014-15 relevant to A.Y.2015-16, therefore, the entire “reasons to believe” by the A.O is vitiated

INCOME TAX OFFICER-1(1), BHILAI, BHILAI vs. MANISH KUMAR MEHTA, HUF, DURG

In the result, appeal of the revenue is dismissed

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita No.342/Rpr/2025 "नधा"रण वष" /Assessment Year : 2012-13 The Income Tax Officer-1(1), Bhilai (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. Manish Kumar Mehta Opportunity. Swami Atmanand English Medium School, Krishna Talkies Road, Risali, Bhilai (C.G.)-490 006 Pan: Aahhm3766Q ……""यथ" / Respondent

cash approach to the entry operators for getting LTCG. The entry operator0 turn approach a set of broker who are in their network. The brokers work in co- ordination with each other so that trades are time synchronized and the scrips remains with cartel of broker and entry operator only. The share prices are rigged_so_that a penny stocks

LALCHAND RAMNANI, RAIPUR,RAIPUR vs. INCOME TAX OFFICER-3(3), RAIPUR, RAIPUR

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

Bench: Shri Ravish Soodआयकर अपील सं. / Ita No. 288/Rpr/2023 "नधा"रण वष" / Assessment Year : 2014-15 Lalchand Ramnani New Cloth Market, Pandri, Raipur (C.G.)-492 001 Pan : Acnpr3983J .......अपीलाथ" / Appellant बनाम / V/S.

capital gain claimed exempt by the appellant alleging it to be bogus invoking sec. 68. The addition made by AO and confirmed by Ld. CIT(A) is arbitrary and not justified. 4. The appellant reserves the right to amend, modify or add any of the ground/s of appeal.” 2. Before proceeding any further, I may herein observe that the present

RAHUL GUPTA(HUF),RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1), RAIPUR

In the result, appeal of the assessee in ITA

Bench: Shri Ravish Soodआयकर अपील सं./ Ita No.190/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Rahul Gupta (Huf) M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aamhr5784E .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.191/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Rahul Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aexpg9423L .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.192/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Radhika Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aqfpm4577M .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.193/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Pawan Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Adcpg7808B .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent : Shri R.B Doshi, Ca Revenue By : Shri Piyush Tripathi, Sr. Dr

capital gain earned therefrom as exempt u/s 10(38) of the Act. Be that as it may, I shall look into the genuineness/authenticity of the transactions of purchase/sale of 3000 shares of CCL International Ltd. as had been disclosed by the assessee in its return of income for the year under consideration. 10. Controversy involved in the present appeal lies

SHRI RAHUL GUPTA,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 1(1) , RAIPUR

In the result, appeal of the assessee in ITA

Bench: Shri Ravish Soodआयकर अपील सं./ Ita No.190/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Rahul Gupta (Huf) M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aamhr5784E .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.191/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Rahul Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aexpg9423L .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.192/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Radhika Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aqfpm4577M .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.193/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Pawan Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Adcpg7808B .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent : Shri R.B Doshi, Ca Revenue By : Shri Piyush Tripathi, Sr. Dr

capital gain earned therefrom as exempt u/s 10(38) of the Act. Be that as it may, I shall look into the genuineness/authenticity of the transactions of purchase/sale of 3000 shares of CCL International Ltd. as had been disclosed by the assessee in its return of income for the year under consideration. 10. Controversy involved in the present appeal lies

PAWAN GUPTA,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1), RAIPUR

In the result, appeal of the assessee in ITA

Bench: Shri Ravish Soodआयकर अपील सं./ Ita No.190/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Rahul Gupta (Huf) M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aamhr5784E .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.191/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Rahul Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aexpg9423L .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.192/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Radhika Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aqfpm4577M .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.193/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Pawan Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Adcpg7808B .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent : Shri R.B Doshi, Ca Revenue By : Shri Piyush Tripathi, Sr. Dr

capital gain earned therefrom as exempt u/s 10(38) of the Act. Be that as it may, I shall look into the genuineness/authenticity of the transactions of purchase/sale of 3000 shares of CCL International Ltd. as had been disclosed by the assessee in its return of income for the year under consideration. 10. Controversy involved in the present appeal lies

RADHIKA GUPTA,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1), RAIPUR

In the result, appeal of the assessee in ITA

Bench: Shri Ravish Soodआयकर अपील सं./ Ita No.190/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Rahul Gupta (Huf) M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aamhr5784E .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.191/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Rahul Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aexpg9423L .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.192/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Radhika Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Aqfpm4577M .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent आयकर अपील सं./ Ita No.193/Rpr/2018 "नधा"रण वष" / Assessment Year : 2015-16 Pawan Gupta M-20, Sector-1, Avanti Vihar, Raipur (C.G.) Pan : Adcpg7808B .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.). ……""यथ" / Respondent : Shri R.B Doshi, Ca Revenue By : Shri Piyush Tripathi, Sr. Dr

capital gain earned therefrom as exempt u/s 10(38) of the Act. Be that as it may, I shall look into the genuineness/authenticity of the transactions of purchase/sale of 3000 shares of CCL International Ltd. as had been disclosed by the assessee in its return of income for the year under consideration. 10. Controversy involved in the present appeal lies

ANIL KUMAR AGRAWAL, RAIPUR,RAIPUR vs. INCOME TAX OFFICER-2(1), RAIPUR, RAIPUR

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

Bench: Shri Ravish Soodआयकर अपील सं. / Ita No. 297/Rpr/2023 "नधा"रण वष" / Assessment Year : 2013-14 Anil Kumar Agrawal C/O. Sky Automobiles, G.E. Road, Mohaba Bazar, Raipur (C.G.) Pan : Abjpa1787C .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-2(1), Raipur (C.G.) ……""यथ" / Respondent

unexplained cash credit on account of capital introduction by the assessee. The addition made by the 3 Anil Kumar Agrawal Vs. ITO-2(1), Raipur (C.G.) ITA No.297 /RPR/2023 A.O. and sustained by the CIT Appeal (NFAC) is unjustified, unwarranted and uncalled for. 5 The appellant reserves the right to add, amend or alter any grounds of appeal