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

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

bogus. The assessee was not being provided with any time or opportunity to verify its books of accounts or to trace the suppliers and was continuously being haunted to accept that the suppliers are not traceable and consequently the purchases are not verifiable. Under these circumstances the statement was given which was under duress and tremendous pressure created

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

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

bogus. The assessee was not being provided with any time or opportunity to verify its books of accounts or to trace the suppliers and was continuously being haunted to accept that the suppliers are not traceable and consequently the purchases are not verifiable. Under these circumstances the statement was given which was under duress and tremendous pressure created

JAI PRAKASH SHAHANI,INDORE vs. INCOME TAX OFFICER - NFAC, DELHI

In the result, appeal of the assessee is allowed

Bench: Shri Manish Boradjai Prakashshahani, Income Tax Officer, Prop. M/S Jai Prakash Impex, Nfac, Delhi Vs. 73, New Palasia, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Apqps7948G Assessee By Ms. Ruchira Singhal, Ar Revenue By Shri Ashish Porwal, Sr.Dr Date Of Hearing 27.02.2025 Date Of Pronouncement 29.04.2025

bogus purchase transaction of Rs.1,94,07,890/- escaped from levy of tax but Ld. A.O has finally accepted the genuineness of the purchases made from M/s Garima Enterprises to the extent of the copies of invoices furnished by the assessee and only for the amount of purchases of Rs.31,60,087/- for which the assessee failed to furnish

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 131 and in course of examination, he stated that all records of purchase and sale of shares were lost and thus, the actual purchase and sale of shares could not be verified. The AO, therefore, treated the 'capital gain' as bogus

BHARAT KALWANI,INDORE vs. ITO-4(3), INDORE

In the result, all the appeals filed by the assessee are allowed for statistical purposes, subject to the payment of costs as directed above

Bench: Shri Siddhartha Nautiyal & Shri Bhagirath Mal Biyani

section 131(1A) of the Income Tax Act, 1961 (hereinafter referred to as “the Act”) were issued to Shri Lalwani, who in his statement admitted that his concern was engaged in providing accommodation entries and that the amounts deposited in his bank accounts were mainly on account of issuing bogus purchase

BHARAT KALWANI,INDORE vs. ITO-4(3), INDORE

In the result, all the appeals filed by the assessee are allowed for statistical purposes, subject to the payment of costs as directed above

Bench: Shri Siddhartha Nautiyal & Shri Bhagirath Mal Biyani

section 131(1A) of the Income Tax Act, 1961 (hereinafter referred to as “the Act”) were issued to Shri Lalwani, who in his statement admitted that his concern was engaged in providing accommodation entries and that the amounts deposited in his bank accounts were mainly on account of issuing bogus purchase

BHARAT KALWANI,INDORE vs. ITO-4(3), INDORE

In the result, all the appeals filed by the assessee are allowed for statistical purposes, subject to the payment of costs as directed above

Bench: Shri Siddhartha Nautiyal & Shri Bhagirath Mal Biyani

section 131(1A) of the Income Tax Act, 1961 (hereinafter referred to as “the Act”) were issued to Shri Lalwani, who in his statement admitted that his concern was engaged in providing accommodation entries and that the amounts deposited in his bank accounts were mainly on account of issuing bogus purchase

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

section 68 of the Act, it is precondition that a credit entry appearing in the books of accounts of the assessee for treating the same as unexplained cash credit in the absence of proper explanation by the assessee. He has further submitted that the order passed by the AO as well as Ld. CIT(A) are contrary to the record

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

section 68 of the Act, it is precondition that a credit entry appearing in the books of accounts of the assessee for treating the same as unexplained cash credit in the absence of proper explanation by the assessee. He has further submitted that the order passed by the AO as well as Ld. CIT(A) are contrary to the record

INCME TAX OFFICER 2(1), BHOPAL, BHOPAL vs. SWARNA SUKH, BHOPAL

In the result appeal of the revenue is dismissed and \"impugned order” is upheld

131 of the Act before taking any decision in the matter. These few affidavits with KYC details were of customers of assessee who had purchased jewellery in October and November, 2016 from the assessee's shop.\n(v) We have perused and observe that there is an affidavit of one Rakesh Agrawal who has deposed about robust sales of gold

M/S OREF SECURITIES PRIVATE LTD. ,MANDSAUR vs. INCOME TAX OFFICER, INDORE

In the result, appeal of the assessee is allowed

Bench: Shri Manish Borad & Ms.Madhumita Royआयकर अपील सं./ Ita No.70/Ind/2018 "नधा"रण वष"/Asstt. Year: 2013-14 Vs. Ito, Mandsaur. M/S.Oref Securities P.Ltd. 69, Agrasen Nagar B/H. Mid India Mandsaur.

purchase of share had been proved-by assessee - Held, yes - Whether, therefore, appellate authorities had rightly deleted impugned addition made by Assessing Officer - Held, yes [para6] [In favour of assessee] ix) Honorable Delhi High court in the case of CIT vs. Kansal Fincap Ltd. Reported in 221 Taxman 151 Section 68: Cash credits -Share application money - No addition shall

POONAMCHAND NARAYANDAS SOONI,KHIRKIYA vs. ITO-2, HARDA

In the result appeal of the assessee is allowed

Bench: Shri Manish Boradpoonamchand Narayandas Income Tax Officer -2, Sooni, Harda Main Road, H. No.26, Vs. Khirkiya, Madhya Pradesh (Appellant / Assessee) (Respondent/ Revenue) Pan: Aabfp3619H Assessee By S/Shri Ashish Goyal & N.D. Patwa, Ars Revenue By Shri Ashish Porwal, Sr.Dr Date Of Hearing 06.08.2024 Date Of Pronouncement 09.08.2024 O R D E R

section 68 was not sustainable. 7. In identical circumstances, in the case of M/s. Kamlesh Dal Mills, Khirkiya, the addition for such purchases of grains from farmers through mandi was deleted by the Hon'ble ITAT in ITA No. 256/IND/ 2023 vide order dated 25.10.2023. The copy of the said order is placed at PB 77-81.” 4.1 He further

MR GAURAV AJMERA,RATLAM vs. DCIT CENTRAL CIRCLE -2, INDORE

Accordingly. Thus, this ground is allowed partly for statistical purpose

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2017-18 Mr. Gaurav Ajmera, Dcit, बनाम/ 38, Ram Mohalla, Central Circle 2, Ratlam Indore. Vs. (Assessee / Appellant) (Revenue / Respondent) Pan: Aglpa8863C Assessee By Shri Pawan Ved, Advocate & Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 13.06.2023 Date Of Pronouncement 01.09.2023

131 and Q.No. 5 & 8 of statement u/s 132(4) that he was unable to explain the source of cash; that the impugned cash was not recorded in his books; that he had no objection in seizure of cash by department; that the cash was earned from “undisclosed sources”; that it was his “undisclosed income”; and it was undisclosed income

PATIDAR BUILER PRIVATE LTD.,BHOPAL vs. ASSESSING OFFICER, BHOPAL

Appeal is allowed partly

bogus since non-\ngenuine. Further the CIT(A) erred in not deciding the ground in full with\nrespect to advances amounting to Rs.268480/- made by the AO. The\nAppellant prays that the said advances be held as genuine and the addition\nbe directed to be deleted.\nGround No. 1:\n4. In this ground, the assessee challenges the disallowance

SMT. SARLA JAIN,KHANDWA vs. ITO WARD 1 KHANDWA, KHANDWA

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2015-16 Smt. Sarla Jain, Ito, C/O Nakoda Marketing, Ward-1, बनाम/ Bhavani Mata Road, Khandwa Khandwa Vs. (Assessee / Appellant) (Revenue / Respondent) Pan: Abvpj1316J Assessee By Shri Pawan Ved, Advocate Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 31.05.2023 Date Of Pronouncement 24.08.2023

purchase LTCG Scrips cost (excluding charges) KAPPAC 1000 13.05.2014 564.02 5,64,024 12,019/- Pharma 8,46,732 KAPPAC 250 20.05.2014 602.27 1,50,698 3,005/- Pharma KAPPAC 450 09.06.2014 338.76 1,52,442 5,408/- Pharma Page 2 of 24 Smt.Sarla Jain, Khadwa,vs.ITO,Ward 1, Khanndwa A. Y. : 2015-16 5. Now, the assessee has raised

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

section 68. 4. The Ld. CIT(A) has erred in confirming the addition made u/s 68 of Rs. 42,12,998/- being receipt on sale of shares. 5. The Ld. CIT(A) has erred in confirming the addition of Rs. 1,26,390/- being alleged on account of expenses for arranging receipts on sale of shares.” 2. Heard the learned

THE DCIT1(1), INDORE vs. SHRI RAVI ARORA, INDORE

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year:2011-12 Dcit-5(1), Shri Ravi Arora, Indore 1007, Khatiwala Tank, बनाम/ 236, Indraprasth Tower, 6, M.G. Road, Vs. Indore. (Revenue / Appellant) (Assessee / Respondent) Pan: Agdpa8921H Assessee By Shri Yash Kukreja, Ca & Shri Hitesh Chimnani, Adv & Ld. Ars Revenue By Shri P.K.Mishra, Cit Dr Date Of Hearing 04.05.2023 Date Of Pronouncement 31.07.2023

purchased off line and the registration of company i.e. No. INB 230660520 was cancelled by SEBI. (4) Whether on the facts and in the circumstances of the case and the Ld. CIT(A) has erred in deleting the addition of amount of Rs. 35,50,000/- paid by World Class Services. Without considering the fact that entry

KUSUM YADAV,INDORE vs. ITO 1(2), INDORE

In the result, the appeal of the assessee bearing ITA No

bogus\nand accordingly, made additions under section 68 to income of\nassessee. The Hon'ble High Court by impugned order held that\nsince assessee had failed to produce any confirmation from said\nalleged creditor or produce its owner in person for cross-\nexamination and also failed to establish identity of creditor and\ngenunineness of alleged loan transaction, impugned additions under