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

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

section 69C was held to be not justified. CIT v. Nikunj Eximp Enterprises (P.) Ltd. (2013) 216 Taxman 171 (Mag.) (Bom.)(HC) AISECT Ltd ITA No.945, 946, 952 & 953/Ind/2019 Sale to government department-Alleged bogus purchases- Sales not doubted, merely because suppliers not appeared before the Assessing Officer or Commissioner (Appeals), purchases cannot be disallowed. DCIT v Shri. Kanakmal Sanghavi

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

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

section 69C was held to be not justified. CIT v. Nikunj Eximp Enterprises (P.) Ltd. (2013) 216 Taxman 171 (Mag.) (Bom.)(HC) AISECT Ltd ITA No.945, 946, 952 & 953/Ind/2019 Sale to government department-Alleged bogus purchases- Sales not doubted, merely because suppliers not appeared before the Assessing Officer or Commissioner (Appeals), purchases cannot be disallowed. DCIT v Shri. Kanakmal Sanghavi

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:

44,236/- and Rs. 8,51,408/- for AY 2015-16 and AY 2016-17 respectively. The AO also noted in Para 2.3 that the appellant has furnished inaccurate particulars and concealed income to the extent of Rs. 1,83,32,038/- through claim of bogus expenditure on account of purchase of M/s. Kalyan toll Highways Pvt. Ltd. ITANo.85/Ind/2020 Bitumen

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

44,557/-. These shares were sold through stock exchange and from the Page 3 of 17 ITA Nos.215 & others Ind/2019 Sheela Agarwal and Ankur Agarwal Page 4 of 17 Demat account of the assessee. The sale transactions are duly reflected in the Demat account of the assessee. He has further submitted that the Transactions of Sale of shares suffered Security

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

44,557/-. These shares were sold through stock exchange and from the Page 3 of 17 ITA Nos.215 & others Ind/2019 Sheela Agarwal and Ankur Agarwal Page 4 of 17 Demat account of the assessee. The sale transactions are duly reflected in the Demat account of the assessee. He has further submitted that the Transactions of Sale of shares suffered Security

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

44,557/-. These shares were sold through stock exchange and from the Page 3 of 17 ITA Nos.215 & others Ind/2019 Sheela Agarwal and Ankur Agarwal Page 4 of 17 Demat account of the assessee. The sale transactions are duly reflected in the Demat account of the assessee. He has further submitted that the Transactions of Sale of shares suffered Security

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 and disallowed the long-term 'capital gain', sought to be exempted under

BABITA CHELAWAT,INDORE vs. DCIT/ACIT 1(1), INDORE, INDORE

The appeal of the assessee is allowed & the impugned order is set aside

Bench: Shri B.M. Biyani & Shri Paresh M Joshi

Section 143(3) r.w.s. 147 is bad in law, without jurisdiction, and liable to be quashed. 2. On the facts and circumstances of the case and in law, the 2 reassessment was completed without complying with the statutory requirements of law. 3. On the facts and circumstances of the case and in law, the 3 Hon. CIT(A) erred

LATE SMT. SUDESH CHAWLA L/H SHRI PREM CHAWLA,BHOPAL vs. THE ACIT 1(2), BHOPAL

In the result appeal of the assessee for Assessment Years

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradit(Ss)A Nos. 158 To 163/Ind/2015 Assessment Years 2000-01 To 2005-06 & Assessment Year-2006-07

Section assessee Year order of order of under CIT(A)_1 ACIT-1(2) which passed Late Smt. 2000-01 to 30.03.2015 19.03.2013 153C Sudesh 2005-06 r.w.s. Chawla and 143(3) 2006-07 143(3) Prem Chawla 2000-01 to 30.03.2015 19.03.2013 153C 2005-06 r.w.s. and 143(3) 2006-07 143(3) Smt. Sarita

SMT. SARITA CHAWLA,BHOPAL vs. THE ACIT 1(2), BHOPAL

In the result appeal of the assessee for Assessment Years

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradit(Ss)A Nos. 158 To 163/Ind/2015 Assessment Years 2000-01 To 2005-06 & Assessment Year-2006-07

Section assessee Year order of order of under CIT(A)_1 ACIT-1(2) which passed Late Smt. 2000-01 to 30.03.2015 19.03.2013 153C Sudesh 2005-06 r.w.s. Chawla and 143(3) 2006-07 143(3) Prem Chawla 2000-01 to 30.03.2015 19.03.2013 153C 2005-06 r.w.s. and 143(3) 2006-07 143(3) Smt. Sarita

THE DCIT, 1(1), BHOPAL vs. SMT. SUDESH CHAWLA, BHOPAL

In the result appeal of the assessee for Assessment Years

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradit(Ss)A Nos. 158 To 163/Ind/2015 Assessment Years 2000-01 To 2005-06 & Assessment Year-2006-07

Section assessee Year order of order of under CIT(A)_1 ACIT-1(2) which passed Late Smt. 2000-01 to 30.03.2015 19.03.2013 153C Sudesh 2005-06 r.w.s. Chawla and 143(3) 2006-07 143(3) Prem Chawla 2000-01 to 30.03.2015 19.03.2013 153C 2005-06 r.w.s. and 143(3) 2006-07 143(3) Smt. Sarita

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

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

bogus expenditure has been claimed. Apart from these allegation based on the alleged loose papers no doubt has been raised at any point of time by the revenue authorities about the genuineness of charitable activity carried out by the assessee and the activities of imparting education to the students. Shri Jairam Education Society ITA No.90 & 548/Ind/2019 15a. For granting registration

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

bogus expenditure has been claimed. Apart from these allegation based on the alleged loose papers no doubt has been raised at any point of time by the revenue authorities about the genuineness of charitable activity carried out by the assessee and the activities of imparting education to the students. Shri Jairam Education Society ITA No.90 & 548/Ind/2019 15a. For granting registration

DECENT INDUSTRIES P. LTD.,BHOPAL vs. ITO-1(2), BHOPAL

Appeal is partly allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani(Virtual Hearing) Assessment Year: 2012-13 M/S Decent Industries Ito-1(2), Private Ltd, Bhopal 5Th Floor, Corporate Park, बनाम/ Db City Area Hills, Vs. Opp. M.P. Nagar Zone I, Bhopal (Assessee/Appellant) (Revenue/Respondent) Pan: Aaeca6271G Assessee By Ms. Shilpa Gupta & Shri N.K. Gupta Revenue By Shri V.K. Singh, Cit-Dr Date Of Hearing 04.06.2024 Date Of Pronouncement 20.08.2024

purchasing shares of assessee. This finding noted by AO himself in assessment-order clearly shows that “A” and “J” have admitted not only the investment made in assessee but also the source utilized by them for making investment. Thirdly, the assessee has adduced sufficient evidences as enumerated in foregoing para to show that all three ingredients of section

SARITA BAGDI ,INDORE vs. THE ITO WARD-4(1), INDORE

In the result appeal of the assessee is allowed

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2011-12

bogus and having been done to convert unaccounted money of assessee to accounted income and, therefore, made addition under section 68 - On appeal, Tribunal deleted addition observing that DMAT account and contract note showed credit/details of share transactions; - Whether on facts, transactions in shares were rightly held to be genuine and addition made by Assessing Officer was rightly deleted - Held

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

44,81,373/- without considering the fact that the company m/s. Eden Financial Services, from whom the shares were 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

M/S ROCKBED RENOVATORS LTD.,BHOPAL vs. THE PCIT-1, BHOPAL

In the result, the appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanirockbed Renovators Ltd. Pr. Cit-1 7-A, Panjabi Bagh Raisen Road Bhopal Govindpura Vs. Bhopal (Appellant / Assessee) (Respondent/ Revenue) Pan: Aaacr7151G Assessee By Shri Gagan Tiwari Ar Revenue By Ms. Ila Parmar, Cit- Dr Date Of Hearing 10.06.2024 Date Of Pronouncement 12.06.2024

bogus or not genuine. In support of his contention he has relied upon following decisions: 1.Bengal Peerless Housing Devat. Co. Ltd v. Deputy Commissioner of Income (Circle -7) (1), Kolkata (2019) 103 Taxmann 298 (Kolkata Trib) 2.Bharat Earth Movers v. Commissioner of Income Tax (2000) 112 Taxmann 61 (SC) 3. Commissioner of Income Tax v. Alembic Glass Industries (Tax Appeal