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

4) of section 132, does not admit the undisclosed income; and (ii) on or before the specified date— (A) declares such income in the return of income furnished for the specified previous year; and (B) pays the tax, together with interest, if any, in respect of the undisclosed income; (c) a sum computed at the rate of sixty per cent

MANISH CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

Section 148 was issued and the proceeding was carried by the Ld. AO. Upon verification of computation of income it was found that the assessee had shown exempt long term capital gain on purchase/sale of shares at Rs. 74,88,105/-. The assessee in total purchased 2,00,000 quantity of scrip of M/s. Splash Media Works Ltd. from

MANISH CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

Section 148 was issued and the proceeding was carried by the Ld. AO. Upon verification of computation of income it was found that the assessee had shown exempt long term capital gain on purchase/sale of shares at Rs. 74,88,105/-. The assessee in total purchased 2,00,000 quantity of scrip of M/s. Splash Media Works Ltd. from

ASHISH CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

Section 148 was issued and the proceeding was carried by the Ld. AO. Upon verification of computation of income it was found that the assessee had shown exempt long term capital gain on purchase/sale of shares at Rs. 74,88,105/-. The assessee in total purchased 2,00,000 quantity of scrip of M/s. Splash Media Works Ltd. from

PAWAN KUMAR CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

Section 148 was issued and the proceeding was carried by the Ld. AO. Upon verification of computation of income it was found that the assessee had shown exempt long term capital gain on purchase/sale of shares at Rs. 74,88,105/-. The assessee in total purchased 2,00,000 quantity of scrip of M/s. Splash Media Works Ltd. from

DCIT , CENTRAL -2 , INDORE vs. M/S GREAT GALLEON VENTURES LTD , INDORE

In the result, the appeals of the Revenue bearing ITANo

Bench: Shri Rajpal Yadav Hon'Ble & Shri Manish Borad

bogus loans by the assessee is evident from one mobile message, the screenshot which has been reproduced by the AO at page no. 24 of his Order. The ld. CIT(DR) also stressed that the names of the lender companies were included in the list of the shell companies notified by the Department. M/sGreat Galleon Ventures

DCIT , CENTRAL -2 , INDORE vs. M/S GREAT GALLEON VENTURES LTD , INDORE

In the result, the appeals of the Revenue bearing ITANo

Bench: Shri Rajpal Yadav Hon'Ble & Shri Manish Borad

bogus loans by the assessee is evident from one mobile message, the screenshot which has been reproduced by the AO at page no. 24 of his Order. The ld. CIT(DR) also stressed that the names of the lender companies were included in the list of the shell companies notified by the Department. M/sGreat Galleon Ventures

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

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

purchase. All the sales/purchases are duly linked to the seized material. Thus the entire purchases made by the appellant is already sold and that too on a higher value. It is also noted that the sales made by the appellant has not been doubted by the AO. Thus once the sales is not doubted, it would not be justified

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

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

purchase. All the sales/purchases are duly linked to the seized material. Thus the entire purchases made by the appellant is already sold and that too on a higher value. It is also noted that the sales made by the appellant has not been doubted by the AO. Thus once the sales is not doubted, it would not be justified

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

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

purchase. All the sales/purchases are duly linked to the seized material. Thus the entire purchases made by the appellant is already sold and that too on a higher value. It is also noted that the sales made by the appellant has not been doubted by the AO. Thus once the sales is not doubted, it would not be justified

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

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

purchase. All the sales/purchases are duly linked to the seized material. Thus the entire purchases made by the appellant is already sold and that too on a higher value. It is also noted that the sales made by the appellant has not been doubted by the AO. Thus once the sales is not doubted, it would not be justified

KAMAL PANJWANI,INDORE vs. THE ACIT 3 (1), INDORE

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

132(4) सहप"ठत "प"ट"करण 5 धारा 271(1)(सी) के "ावधान आपको समझाया है । "या आप इन धाराओं के तहत "मलनेवाले लाभ को उठाना चाह"गे ता"क आपको य"द कोई शाि"त या अ"भयोजन कर अपवंचन के "लए होता है तो उससे मुि"त "मल सकती है । Page 13 of 77 Shri Kamal Panjwani

KAMAL PANJWANI,INDORE vs. THE ACIT 3 (1), INDORE

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

132(4) सहप"ठत "प"ट"करण 5 धारा 271(1)(सी) के "ावधान आपको समझाया है । "या आप इन धाराओं के तहत "मलनेवाले लाभ को उठाना चाह"गे ता"क आपको य"द कोई शाि"त या अ"भयोजन कर अपवंचन के "लए होता है तो उससे मुि"त "मल सकती है । Page 13 of 77 Shri Kamal Panjwani

KAMAL PANJWANI,INDORE vs. THE ACIT 3 (1), INDORE

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

132(4) सहप"ठत "प"ट"करण 5 धारा 271(1)(सी) के "ावधान आपको समझाया है । "या आप इन धाराओं के तहत "मलनेवाले लाभ को उठाना चाह"गे ता"क आपको य"द कोई शाि"त या अ"भयोजन कर अपवंचन के "लए होता है तो उससे मुि"त "मल सकती है । Page 13 of 77 Shri Kamal Panjwani

KAMAL PANJWANI,INDORE vs. THE ACIT 3 (1), INDORE

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

132(4) सहप"ठत "प"ट"करण 5 धारा 271(1)(सी) के "ावधान आपको समझाया है । "या आप इन धाराओं के तहत "मलनेवाले लाभ को उठाना चाह"गे ता"क आपको य"द कोई शाि"त या अ"भयोजन कर अपवंचन के "लए होता है तो उससे मुि"त "मल सकती है । Page 13 of 77 Shri Kamal Panjwani

KAMAL PANJWANI,INDORE vs. THE ACIT 3 (1), INDORE

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

132(4) सहप"ठत "प"ट"करण 5 धारा 271(1)(सी) के "ावधान आपको समझाया है । "या आप इन धाराओं के तहत "मलनेवाले लाभ को उठाना चाह"गे ता"क आपको य"द कोई शाि"त या अ"भयोजन कर अपवंचन के "लए होता है तो उससे मुि"त "मल सकती है । Page 13 of 77 Shri Kamal Panjwani

DCIT(CENTRAL)-2, INDORE, INDORE vs. M/S KALYAN TOLL HIGHWAY PVT.LTD, INDORE

Bench: Shri Manish Borad & Ms. Madhumita Royvirtual Hearing Assessment Year:2013-14 Dcit(Central)-2 M/S. Kalyan Toll Highway Pvt. Ltd. Indore Indore बनाम/ (Appellant) (Revenue ) Vs. P.A. No. Aadck9401F Appellant By Shri Harshit Bari, Sr. Dr Respondent By Shri Ajay Tulsiyan, Ca Date Of Hearing: 21.06.2021 Date Of Pronouncement: 27.07.2021 आदेश / O R D E R Per Manish Borad, A.M:

132 of the Act were carried out at various premises of Kalyan Group of Indore on 04.09.2015 which included the assessee company also. Assessment proceedings u/s 143(3) r.w.s. 153A were completed on 29.11.2017 for the year under appeal. Ld. AO observed that assessee has booked bogus purchase of bitumen of Rs.1,83,38,032/-. This amount was not claimed

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

132 /surveys u/s 133A/enquiries conducted by the department on the various brokers of stock exchange and various assessee / companies. The investigation carried out by the department has proved that a scheme was hatched by various players to obtain/provide accommodation entry of bogus LTCG through manipulation of stock market. Various syndicates have arranged accommodation entry of bogus Long Term Capital Gain