PIYUSH JAIN,INDORE vs. INCOME TAX OFFICER-4(4), INDORE , ITO, INDORE

In the result, the appeal filed by the assessee is allowed

bogus sales which are brought on record by the Assessing Officer\nand as such, he says that in the instant case, there is no ground for rejection of the\nbooks of account and as such the applicability of section 145(3) of the Act by the AO\nis legally not valid and the book results should be accepted

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

bogus and disallowable. - CIT vs. Nangalia Fabrics P.Ltd., (2014) 220 Taxman 17 (Mag) (Guj) - Rajesh P. Soni v. ACIT, (2006) 100 TTJ 892 (Ahd.)(Trib) - CIT vs. Nikunj Exim Enterprises (P)Ltd. (2013) 216 Taxman 171 (Bom) - G. G. Disamond International v. Dy. CIT, 104 TTJ 809 (Mum)(Trib) - ITO v. Surana Traders, (2005) 92 ITD 212 (Mum)(Trib.) - Balaji

M/S RADHISHWARI DEVLOPERS P LTD,INDORE vs. PR CIT -2 INDORE, INDORE

In the result, Assessee’s appeal in ITANo

Bench: Hon’Ble Rajpal Yadav & Hon’Ble Manish Boradvirtual Hearing Assessment Year 2013-14 M/S. Radhishwari Developers P. Ltd. (Now Known As R.C. Warehousing Pvt. Ltd. ) Indore : Appellant Pan :Aafcr1916A V/S Pr. Cito-2 : Respondent Indore Appellant By S/Shri Sumit Nema Sr. Adv. With Gagan Tiwari & Piyush Parashar Advs. Revenue By Shri S.S. Mantri, Cit-Dr Date Of Hearing 24.05.2021 Date Of Pronouncement 20.07.2021

bogus nature of the subject transactions. This, under such circumstances the order passed by the learned Assessing Officer u/s 143(3) cannot be said as prejudicial to the interest of the revenue and thus, needs to be quashed. M/s. Radheshwari Developers Pvt. Ltd. Without prejudice further, to the above it is submitted that the recourse to section

MANISH CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

270/-. The assessee claimed long term capital gains of Rs. 77,57,559/-. Upon verification of ITD application by the department it was found that an investigation was carried out by DIT(Inv.), Kolkata on bogus claim of long term capital gain made by the various assessees through price rigging in ITA Nos.199to202/Ind/2019 Ashish Chhaparia(others) vs. ITO Asst.Years

PAWAN KUMAR CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

270/-. The assessee claimed long term capital gains of Rs. 77,57,559/-. Upon verification of ITD application by the department it was found that an investigation was carried out by DIT(Inv.), Kolkata on bogus claim of long term capital gain made by the various assessees through price rigging in ITA Nos.199to202/Ind/2019 Ashish Chhaparia(others) vs. ITO Asst.Years

MANISH CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

270/-. The assessee claimed long term capital gains of Rs. 77,57,559/-. Upon verification of ITD application by the department it was found that an investigation was carried out by DIT(Inv.), Kolkata on bogus claim of long term capital gain made by the various assessees through price rigging in ITA Nos.199to202/Ind/2019 Ashish Chhaparia(others) vs. ITO Asst.Years

ASHISH CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

270/-. The assessee claimed long term capital gains of Rs. 77,57,559/-. Upon verification of ITD application by the department it was found that an investigation was carried out by DIT(Inv.), Kolkata on bogus claim of long term capital gain made by the various assessees through price rigging in ITA Nos.199to202/Ind/2019 Ashish Chhaparia(others) vs. ITO Asst.Years

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

bogus entries (standing to the credit of named dealers who were none existent creditors of the assessee). 14. However, it has now come on record that the appellant/assessee in penalty proceedings offered explanation and caused to produce affidavits and record statements of the concerned unregistered dealers and establish their credentials. That explanation has been accepted by the CIT(A) vide

HITESH KUMAR BINDAL,INDORE vs. THE DCIT CIRCLE 1(1), INDORE

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

270 23.01.2008 141644 2,47,642 Total 17,57,769 (iv) It is submitted that after purchase the shares were immediately credited in De-mat A/c on 31.12.2008. It is pointed out that there is a Page 5 of 12 Hitesh Kumar Bindal v.DCIT, Circle 1(1),Indore ITA Nos. 351 & 352/Ind/2022 A.Ys 2011-12 & 2012-13 slight time

HITESH KUMAR BINDAL,INDORE vs. THE DCIT CIRCLE 1(1), INDORE

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

270 23.01.2008 141644 2,47,642 Total 17,57,769 (iv) It is submitted that after purchase the shares were immediately credited in De-mat A/c on 31.12.2008. It is pointed out that there is a Page 5 of 12 Hitesh Kumar Bindal v.DCIT, Circle 1(1),Indore ITA Nos. 351 & 352/Ind/2022 A.Ys 2011-12 & 2012-13 slight time

SHRI RAJEEV SHARMA,BHOPAL vs. THE DCIT CENTRAL-II, BHOPAL

In the result the appeals of the assessee are disposed off as

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Borad

270 6,99,200 - 6,99,200 2011-12 18,47,310 3,20,000 - 3,20,000 2012-13 42,01,330 1,01,10,769 - 1,01,00,769 2013-14 50,01,710 44,61,950 38,000 44,23,950 Sanjay Kumar Sinha,Anjana Sinha, Rajiv Sharma & Manju Sharma IT(SS)No.150 to 170/Ind/2017 5. Ground

SHRI SANJAY KUMAR SINHA,BHOPAL vs. THE DCIT CENTRAL-II, BHOPAL

In the result the appeals of the assessee are disposed off as

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Borad

270 6,99,200 - 6,99,200 2011-12 18,47,310 3,20,000 - 3,20,000 2012-13 42,01,330 1,01,10,769 - 1,01,00,769 2013-14 50,01,710 44,61,950 38,000 44,23,950 Sanjay Kumar Sinha,Anjana Sinha, Rajiv Sharma & Manju Sharma IT(SS)No.150 to 170/Ind/2017 5. Ground

SMT ANJANA SINHA,BHOPAL vs. THE DCIT CENTRAL-II, BHOPAL

In the result the appeals of the assessee are disposed off as

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Borad

270 6,99,200 - 6,99,200 2011-12 18,47,310 3,20,000 - 3,20,000 2012-13 42,01,330 1,01,10,769 - 1,01,00,769 2013-14 50,01,710 44,61,950 38,000 44,23,950 Sanjay Kumar Sinha,Anjana Sinha, Rajiv Sharma & Manju Sharma IT(SS)No.150 to 170/Ind/2017 5. Ground

SMT. MANJU SHARMA,BHOPAL vs. THE DCIT CENTRAL-II, BHOPAL

In the result the appeals of the assessee are disposed off as

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Borad

270 6,99,200 - 6,99,200 2011-12 18,47,310 3,20,000 - 3,20,000 2012-13 42,01,330 1,01,10,769 - 1,01,00,769 2013-14 50,01,710 44,61,950 38,000 44,23,950 Sanjay Kumar Sinha,Anjana Sinha, Rajiv Sharma & Manju Sharma IT(SS)No.150 to 170/Ind/2017 5. Ground

DR. VINOD BHANDARI,INDORE vs. THE DCIT CIR. 2(1), INDORE

In the result appeal of the assessee is allowed

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2012-13 Shri Vinod Bhandari, Pr. Cit(1), Indore 21- Gf, Bhandari House, Talkies, Scheme No.54, Vs. Vijay Nagar, Indore (Appellant) (Revenue ) Pan No.Abnpb6240M Assessment Year: 2012-13

270 ITR 157 (M.P) k. CIT v/s Shri Govindram Seksariya Cahrity Trust, 166 ITR 580 (M.P) l. Hari Iron Trading Co. v/s CIT, 263 ITR 437 (P&H) m. CIT v/s HARI Singh & Associates, 267 CTR 442 (Raj.) n. 335 ITR 83, CIT vs. Anil Kumar Sharma (Delhi), o. 341 ITR 537 (Delhi), CIT vs. Vikas Polymers

SHRI VINOD BHANDARI,INDORE vs. THE PR.CIT-1, INDORE

In the result appeal of the assessee is allowed

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2012-13 Shri Vinod Bhandari, Pr. Cit(1), Indore 21- Gf, Bhandari House, Talkies, Scheme No.54, Vs. Vijay Nagar, Indore (Appellant) (Revenue ) Pan No.Abnpb6240M Assessment Year: 2012-13

270 ITR 157 (M.P) k. CIT v/s Shri Govindram Seksariya Cahrity Trust, 166 ITR 580 (M.P) l. Hari Iron Trading Co. v/s CIT, 263 ITR 437 (P&H) m. CIT v/s HARI Singh & Associates, 267 CTR 442 (Raj.) n. 335 ITR 83, CIT vs. Anil Kumar Sharma (Delhi), o. 341 ITR 537 (Delhi), CIT vs. Vikas Polymers

DR. VINOD BHANDARI,INDORE vs. THE ACIT CIR. 2(1), INDORE

In the result appeal of the assessee is allowed

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2012-13 Shri Vinod Bhandari, Pr. Cit(1), Indore 21- Gf, Bhandari House, Talkies, Scheme No.54, Vs. Vijay Nagar, Indore (Appellant) (Revenue ) Pan No.Abnpb6240M Assessment Year: 2012-13

270 ITR 157 (M.P) k. CIT v/s Shri Govindram Seksariya Cahrity Trust, 166 ITR 580 (M.P) l. Hari Iron Trading Co. v/s CIT, 263 ITR 437 (P&H) m. CIT v/s HARI Singh & Associates, 267 CTR 442 (Raj.) n. 335 ITR 83, CIT vs. Anil Kumar Sharma (Delhi), o. 341 ITR 537 (Delhi), CIT vs. Vikas Polymers

PRAKASH JAVIA,INDORE vs. ACIT-4(1), INDORE

Bench: Shri Manish Borad & Mis Madhumita Royassessment Year:2014-15 Shri Prakash Javia Huf, Ito-5(1) 40, Ashok Nagar Indore बनाम/ Behind Icici Bank Vs. Indore (Appellant) (Respondent ) P.A. No.Aahhp3362H Assessment Year:2014-15 Shri Jayesh Kumar Javia, Huf, Ito-1(2) 40, Ashok Nagar Indore बनाम/ Behind Icici Bank Vs. Indore (Appellant) (Respondent ) P.A. No.Aadhj5797C Assessment Year:2014-15 Shri Prakash Javia, Acit-4(1) 40, Ashok Nagar Indore बनाम/ Behind Icici Bank Vs. Indore (Appellant) (Respondent ) P.A. No.Abppp2848H

270/- and also claiming exempt income u/s 10(38) of the Act from Long Term Capital Gain from sale of listed securities at Rs.21,11,075/-. Case selected for scrutiny through CASS followed by serving of notices u/s 143(2) & 142(1) of the Act to the assessee. Written submissions were filed. Books of accounts and other documents produced were

PRAKASH JAVIA HUF,INDORE vs. ITO 5(1), INDORE

Bench: Shri Manish Borad & Mis Madhumita Royassessment Year:2014-15 Shri Prakash Javia Huf, Ito-5(1) 40, Ashok Nagar Indore बनाम/ Behind Icici Bank Vs. Indore (Appellant) (Respondent ) P.A. No.Aahhp3362H Assessment Year:2014-15 Shri Jayesh Kumar Javia, Huf, Ito-1(2) 40, Ashok Nagar Indore बनाम/ Behind Icici Bank Vs. Indore (Appellant) (Respondent ) P.A. No.Aadhj5797C Assessment Year:2014-15 Shri Prakash Javia, Acit-4(1) 40, Ashok Nagar Indore बनाम/ Behind Icici Bank Vs. Indore (Appellant) (Respondent ) P.A. No.Abppp2848H

270/- and also claiming exempt income u/s 10(38) of the Act from Long Term Capital Gain from sale of listed securities at Rs.21,11,075/-. Case selected for scrutiny through CASS followed by serving of notices u/s 143(2) & 142(1) of the Act to the assessee. Written submissions were filed. Books of accounts and other documents produced were