AISECT LTD. ,BHOPAL vs. ACIT RANGE 1(1), BHOPAL

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Roy

exemption available to said entity has been denied and the reason for such denial as 39 AISECT Ltd ITA No.945, 946, 952 & 953/Ind/2019 mentioned in the assessment order is that the assessee has purchased as well as sold books to AISECT Ltd which have been done with the object of giving direct/indirect benefit to the said company. Thus

ACIT RANGE 1(1), BHOPAL vs. AISECT LTD. , BHOPAL

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Roy

exemption available to said entity has been denied and the reason for such denial as 39 AISECT Ltd ITA No.945, 946, 952 & 953/Ind/2019 mentioned in the assessment order is that the assessee has purchased as well as sold books to AISECT Ltd which have been done with the object of giving direct/indirect benefit to the said company. Thus

SADHU RAM BALANI,INDORE vs. ITO-5(1), INDORE, INDORE

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanisadhu Ram Balani Ito-5(1) Flat No.B-503, Moti Mahal Indore Apartment 28-A, Sector-C Vs. Scheme No.71, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Abspb5367L Assessee By Shri S.N. Agrawal, Ar Shri Ashish Porwal, Sr. Dr Revenue By Date Of Hearing 04.09.2024 Date Of Pronouncement 24.09.2024

purchase and sale of shares by the assessee of M/s. Sunrise Asian Ltd based on the investigation carried out by the Investigation Wing, Kolkata wherein certain persons were found indulged in providing accommodation entries, inter-alia bogus Long Term Capital Gains which is claimed as exempt

HIMANSHU BOTADEARA HUF,INDORE vs. THE ITO 4(3), INDORE

In the result, these two appeals filed by the assesse are

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

bogus transaction of capital gain from the purchase and sale of shares of M/s. Twenty First Century India Limited. The AO has recorded the reasons for reopening of the assessment placed at page no.69 of the paper book without verifying the record available with the AO in the shape of the return of income filed by the assessee

HIMANSHU BOTADEARA HUF,INDORE vs. THE ITO 4(3), INDORE

In the result, these two appeals filed by the assesse are

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

bogus transaction of capital gain from the purchase and sale of shares of M/s. Twenty First Century India Limited. The AO has recorded the reasons for reopening of the assessment placed at page no.69 of the paper book without verifying the record available with the AO in the shape of the return of income filed by the assessee

SHRI BHAWANI SHANKAR PARASHAR,INDORE vs. THE DCIT/ACIT 1 (2), INDORE

In the result, appeal of assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanishri Bhawani Shankar Pr. Cit-1 Prashar Indore 28, Lasudia Mori, Vijay Vs. Nagar, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Bgbpp 2475 G Assessee By Shri S.N. Agrawal, Ar Revenue By Shri P.K. Mishra, Cit-Dr Date Of Hearing 02.05.2023 Date Of Pronouncement 21.06.2023

Exemption) vs. Slum Rehabilitation Authority 412 ITR 521 as under: Page 17 of 21 Bhawani Shankar Page 18 of 21 “9. This Court in case of Narendrakumari (supra) considered the principle of merger of the order of assessment into that of the order of the Appellate Commissioner. It was held that when the order of assessment merges with the order

SMT. SHEELA AGRAWAL,INDORE vs. ITO-5(5), INDORE

In the result, all three appeals of two assessee are allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

bogus and thereby making the addition u/s 68 of the Act without allowing brokerage expenses. The assessee is an individual and derives income from sale and purchase of shares as well as interest. The assessee filed her return of income for the year under consideration on 31st July 2014 declaring total income of Rs.7498/- after claiming the exemption

ANKUR AGRAWAL,INDORE vs. ITO-5(1), INDORE

In the result, all three appeals of two assessee are allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

bogus and thereby making the addition u/s 68 of the Act without allowing brokerage expenses. The assessee is an individual and derives income from sale and purchase of shares as well as interest. The assessee filed her return of income for the year under consideration on 31st July 2014 declaring total income of Rs.7498/- after claiming the exemption

SMT. SHEELA AGRAWAL,INDORE vs. ITO-5(5), INDORE

In the result, all three appeals of two assessee are allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

bogus and thereby making the addition u/s 68 of the Act without allowing brokerage expenses. The assessee is an individual and derives income from sale and purchase of shares as well as interest. The assessee filed her return of income for the year under consideration on 31st July 2014 declaring total income of Rs.7498/- after claiming the exemption

VIJAY KOTHARI,INDORE vs. DCIT (CENTRAL)-1, INDORE

bogus" having been arranged through\naccommodation. Accordingly, the AO rejected the claim of exempted capital\ngain declared by assessee and in turn made an addition of Rs.26,04,470/-\non account of income from “undisclosed sources”. Aggrieved, the assessee\ncarried matter in first-appeal but could not succeed. Now, the assessee has\ncome in next appeal before us.\n5. Before

SMT NARAYAN SUNDRA BAI,INDORE vs. ITO 2 (5), INDORE

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2014-15 Smt. Narayan Sundra Bai, Ito, 29, Maa Vihar Colony, 2(5), बनाम/ A.B.Road, Indore. Indore. Vs. (Assessee / Appellant) (Revenue / Respondent) Pan: Alzpb1024B Assessee By Shri Ashish Goyal, Ca Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 12.06.2023 Date Of Pronouncement 05.09.2023

purchased 6,000 shares for Rs. 12,000/-; sold the same for Rs. 42,12,998/- and thereby earned the impugned capital gain of Rs. 42,00,998/-. However, while completing assessment, the AO treated the shares of Kappac as what is called “penny stock”; considered the exempted capital gain declared by assessee from those shares as bogus

SAURABH BARJATYA,INDORE vs. ITO 1(2), INDORE

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

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanisaurabh Barjatya Ito 1(2) 123, Nami Nagar Jain Colony Indore Vs. Indore -452009 (Appellant / Assessee) (Respondent/ Revenue) Pan: Auwpb4768Q Assessee By Shri N.D. Patwa, Ar Revenue By Shri Sanjeev H. Bhagat, Sr. Dr Date Of Hearing 11.12.2024 Date Of Pronouncement 12.12.2024 O R D E R

bogus claim of long-term capital gain on sale and purchase of sale of shares exempt u/s 10(38) of the Act. He has relied

RADHESHYAM KHANDELWAL,INDORE vs. ACIT4(1), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

exempt under section 10(38) on account of sale of scrip of M/s Esteem Bio Organic Food Processing Ltd. Particulars Swati Luthra Shruti Luthra Namrata Sehgal Luthra Asha Luthra Date of Investment 20.02.2013 20.02.2013 20.02.2013 - No. of Shares purchased 6000 6000 6000 - Purchase price per share Rs. 25 per share Rs. 25 per share Rs. 25 per share – Total purchase

SMT. RUKMANI KHANDELWAL,INDORE vs. ITO-4(3), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

exempt under section 10(38) on account of sale of scrip of M/s Esteem Bio Organic Food Processing Ltd. Particulars Swati Luthra Shruti Luthra Namrata Sehgal Luthra Asha Luthra Date of Investment 20.02.2013 20.02.2013 20.02.2013 - No. of Shares purchased 6000 6000 6000 - Purchase price per share Rs. 25 per share Rs. 25 per share Rs. 25 per share – Total purchase

SMT. SANDHYA KHANDELWAL,INDORE vs. ITO 4(3), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

exempt under section 10(38) on account of sale of scrip of M/s Esteem Bio Organic Food Processing Ltd. Particulars Swati Luthra Shruti Luthra Namrata Sehgal Luthra Asha Luthra Date of Investment 20.02.2013 20.02.2013 20.02.2013 - No. of Shares purchased 6000 6000 6000 - Purchase price per share Rs. 25 per share Rs. 25 per share Rs. 25 per share – Total purchase

SHRI SURESH KHANDELWAL,INDORE vs. THE ITO-4(1), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

exempt under section 10(38) on account of sale of scrip of M/s Esteem Bio Organic Food Processing Ltd. Particulars Swati Luthra Shruti Luthra Namrata Sehgal Luthra Asha Luthra Date of Investment 20.02.2013 20.02.2013 20.02.2013 - No. of Shares purchased 6000 6000 6000 - Purchase price per share Rs. 25 per share Rs. 25 per share Rs. 25 per share – Total purchase

MOHANLAL KHANDELWAL,INDORE vs. THE ITO-4(1), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

exempt under section 10(38) on account of sale of scrip of M/s Esteem Bio Organic Food Processing Ltd. Particulars Swati Luthra Shruti Luthra Namrata Sehgal Luthra Asha Luthra Date of Investment 20.02.2013 20.02.2013 20.02.2013 - No. of Shares purchased 6000 6000 6000 - Purchase price per share Rs. 25 per share Rs. 25 per share Rs. 25 per share – Total purchase

MAHENDRA SINGH CHAWLA,INDORE vs. DCIT CIRCLE-1(1), INDORE

In the result, the appeal of the assessee is dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanimahendra Singh Chawla Dcit Circle -1(1) 4/35 Gram Pigdamber A.B. Indore Road Near Rao Vs. Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Aazpc0120C Assessee By None Shri Ashish Porwal, Sr. Dr Revenue By Date Of Hearing 02.09.2024 Date Of Pronouncement 04 .09.2024

exemption u/s 54 of the Act has been claimed by the appellant. (8) Copy of detailed explanation offered in response to show cause Notice dated 30.11.2019 (9) Copy of ITAT Bangalore Bench order in the case of Basheer Noor Ullah Khan v. CIT ITA No. 575/Bang/2019 31 July, 2019 the ratio of which is identical to the case