INCOME TAX OFFICER -4(1), BHOPAL, BHOPAL vs. HAMID HUSAIN, BHOPAL

Appeals are allowed for statistical purposes

26,36,499. The disallowances of purchases of Rs.\n9,10,39,185 amounts to more than 50% of even the turnover resulting in GP\nRatio hike to 56.47% which is not as per the industry ratios of scrap dealers\nGP Ratio and also results in huge mismatch with GP ratio of the earlier years\nof the appellant. Therefore

HAMID HUSAIN,BHOPAL vs. ASSESSMENT UNIT, INCOME TAX DEPARTMENT, DELHI

Appeals are allowed for statistical purposes

Bench: Shri B.M. Biyani & Shri Paresh M. Joshiito-4(1), Hamid Husain, बनाम/ Bhopal 369, Kaji Camp, Vs. Gali No.3, Near Sindhi Colony, Berasia Road, Bhopal (Revenue/Appellant) (Assessee/Respondent) Hamid Husain, Assessment Unit, बनाम/ 369, Kaji Camp, Income Tax Department Vs. Gali No.3, Near Sindhi Colony, Berasia Road, Bhopal (Assessee/Appellant) (Revenue/Respondent)

26,36,499. The disallowances of purchases of Rs. 9,10,39,185 amounts to more than 50% of even the turnover resulting in GP Ratio hike to 56.47% which is not as per the industry ratios of scrap dealers GP Ratio and also results in huge mismatch with GP ratio of the earlier years of the appellant. Therefore

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

section 10(38) of the Act, the primary onus is on the assessee to substantiate his claim by producing the supporting evidence. We find that in the case in hand this is not an isolated transaction of purchase and sale of shares by the assessee of M/s. Sunrise Asian Ltd but the assessee has been regularly purchasing and selling

RUPESH VYAS,INDORE vs. THE ACIT3(1), INDORE, INDORE

In the result, this appeal of assessee is dismissed

Bench: Shri T.R. Senthil Kumar & Shri B.M. Biyani

section 271(1)(c) are initiated for concealment and furnishing the inaccurate particulars also initiated. Addition: Rs. 90,69,199/- Page 10 of 26 Shri Rupesh Vyas Assessment year 2015-16 11. Addition on account of unexplained expenses U/S 69C of Rs. 2,73,105/-: As per the discussion made in the earlier para 3 above, it has been concluded

SHRI CHANDRA MOHAN SACHDEVA,BHOPAL vs. THE ACIT 1(2), BHOPAL

In the result, the appeals in I

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. Nos.857 & 858/Ind/2016 "नधा"रणवष" / Assessment Years: 2005-06 & 2006-07 Shri Chandra Mohan Assistant Commissioner Sachdeva, Of Income-Tax, E-5/59, Arera Colony, Vs. 1(2), Bhopal Bhopal

26,593/- towards bogus purchases deserves to be quashed. B) Supression of Sales of eggs : B-l)A.Y. 2005-06 - Rs. 3,33,333/- Daily sales reports for the period 05-08-2004 to 09-08-2004 were found during survey. The AO observed that :- (a) In the daily production sale sheets sale in the name of Hazi and Anjumare

SHRI CHANDRA MOHAN SACHDEVA,BHOPAL vs. THE ACIT 1(2), BHOPAL

In the result, the appeals in I

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. Nos.857 & 858/Ind/2016 "नधा"रणवष" / Assessment Years: 2005-06 & 2006-07 Shri Chandra Mohan Assistant Commissioner Sachdeva, Of Income-Tax, E-5/59, Arera Colony, Vs. 1(2), Bhopal Bhopal

26,593/- towards bogus purchases deserves to be quashed. B) Supression of Sales of eggs : B-l)A.Y. 2005-06 - Rs. 3,33,333/- Daily sales reports for the period 05-08-2004 to 09-08-2004 were found during survey. The AO observed that :- (a) In the daily production sale sheets sale in the name of Hazi and Anjumare

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

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

bogus. of books. 2 No justification is given as The assessee is supplying books to the to why payments are made students of the Universities managed by to AISECT Bhopal for the societies under same management. supply of books who are These societies, with an object to themselves concentrate their focus on the core activity of providing education have

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

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

bogus. of books. 2 No justification is given as The assessee is supplying books to the to why payments are made students of the Universities managed by to AISECT Bhopal for the societies under same management. supply of books who are These societies, with an object to themselves concentrate their focus on the core activity of providing education have

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

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

bogus. of books. 2 No justification is given as The assessee is supplying books to the to why payments are made students of the Universities managed by to AISECT Bhopal for the societies under same management. supply of books who are These societies, with an object to themselves concentrate their focus on the core activity of providing education have

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

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

bogus. of books. 2 No justification is given as The assessee is supplying books to the to why payments are made students of the Universities managed by to AISECT Bhopal for the societies under same management. supply of books who are These societies, with an object to themselves concentrate their focus on the core activity of providing education have

M/S SHREE JAIRAM EDUCATION SOCIETY,BHOPAL vs. ACIT CENTRAL-II, BHOPAL

In the result, appeal of the assessee in ITANo

Bench: Hon’Ble Rajpal Yadav & Shri Manish Boradvirtual Hearing

10. Ld. Departmental Representative(DR) apart from relying on Shri Jairam Education Society ITA No.90 & 548/Ind/2019 the detailed finding of Ld. CIT(A) as also referred to the following written submissions placed on record: 4.2) In support of grounds of appeal, the appellant has taken plea that CBDT notification no. 52 and 53 dt. 22110/2014 makes it clear that

M/S SHREE JAIRAM EDUCATION SOCIETY,BHOPAL vs. PR. CIT (CENTRAL), BHOPAL

In the result, appeal of the assessee in ITANo

Bench: Hon’Ble Rajpal Yadav & Shri Manish Boradvirtual Hearing

10. Ld. Departmental Representative(DR) apart from relying on Shri Jairam Education Society ITA No.90 & 548/Ind/2019 the detailed finding of Ld. CIT(A) as also referred to the following written submissions placed on record: 4.2) In support of grounds of appeal, the appellant has taken plea that CBDT notification no. 52 and 53 dt. 22110/2014 makes it clear that

SHRI ABHISHEK GUPTA,INDORE vs. ITO-5(5), INDORE

In the result, this appeal of assessee is dismissed

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani

section 10(38) of the Income-tax Act, 1961 capital gain on transfer of shares, after holding for more than 12 months, is exempted u/s 10(38). The assessee has declared to have earned a whopping capital gain of Rs. 64,58,168/- on the basis of a meagre investment of Rs. 1,77,192/- and the relevant shares

RUPESH VYAS,INDORE vs. THE ACIT3(1), INDORE, INDORE

In the result, this appeal of assessee is dismissed

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani

purchase and sale of LTCG are not genuine and has taken bogus entry of LTCG. (i) Sumati Dayal a. CIT· (I 995) 2 J.1 JTH 801 (S C); (ii) Durga Prasad More - 82ITR 540 (SC) (iii) Mc. Dowell & Co. Ltd. - 154 ITR 148 (SC), (iv) Asst. CIT u. Sam Nath Mani . (2006) 100 TTJ 917 (Chd) (v) Gooinda Rajulu Mudal.iar

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

section 10(38), hence, addition cannot be made in the hands of assessee without rebutting the documentary evidences and without conducting investigation to discard the said documents. The case laws so relied by assessee are tabulated below: Particulars Copy of judgment of Hon’ble Punjab and Haryana High Court in the case of PCIT vs Prem Pal Gandhi

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

section 10(38), hence, addition cannot be made in the hands of assessee without rebutting the documentary evidences and without conducting investigation to discard the said documents. The case laws so relied by assessee are tabulated below: Particulars Copy of judgment of Hon’ble Punjab and Haryana High Court in the case of PCIT vs Prem Pal Gandhi

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

section 10(38), hence, addition cannot be made in the hands of assessee without rebutting the documentary evidences and without conducting investigation to discard the said documents. The case laws so relied by assessee are tabulated below: Particulars Copy of judgment of Hon’ble Punjab and Haryana High Court in the case of PCIT vs Prem Pal Gandhi

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

section 10(38), hence, addition cannot be made in the hands of assessee without rebutting the documentary evidences and without conducting investigation to discard the said documents. The case laws so relied by assessee are tabulated below: Particulars Copy of judgment of Hon’ble Punjab and Haryana High Court in the case of PCIT vs Prem Pal Gandhi