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

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

bogus purchases were made. ix. Copy of sales tax orders of the aforesaid entities duly confirming the purchase/sales made by suppliers. x. Copy of sales tax order of the assessee company duly confirming the sale of the assessee. xi. Names of all the suppliers, address of the suppliers, name of the contact persons, their telephone Number along with documentary proof

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

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

bogus purchases were made. ix. Copy of sales tax orders of the aforesaid entities duly confirming the purchase/sales made by suppliers. x. Copy of sales tax order of the assessee company duly confirming the sale of the assessee. xi. Names of all the suppliers, address of the suppliers, name of the contact persons, their telephone Number along with documentary proof

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

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

bogus purchases were made. ix. Copy of sales tax orders of the aforesaid entities duly confirming the purchase/sales made by suppliers. x. Copy of sales tax order of the assessee company duly confirming the sale of the assessee. xi. Names of all the suppliers, address of the suppliers, name of the contact persons, their telephone Number along with documentary proof

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

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

bogus purchases were made. ix. Copy of sales tax orders of the aforesaid entities duly confirming the purchase/sales made by suppliers. x. Copy of sales tax order of the assessee company duly confirming the sale of the assessee. xi. Names of all the suppliers, address of the suppliers, name of the contact persons, their telephone Number along with documentary proof

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

Section 69C of the Act applicable for unexplained expenditure and has concluded the proceedings only by making minor disallowance u/s 37 of the Act for unverifiable purchase. This subsequent observation of the Ld. A.O clearly indicates that the exercise which the Ld. A.O was required to carry out prior to issue of notice u/s 148 of the Act and also

MAHENDRA SINGH CHAWLA,INDORE vs. DCIT CIRCLE-1(1), INDORE

In the result, the appeal of the assessee is dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanimahendra Singh Chawla Dcit Circle -1(1) 4/35 Gram Pigdamber A.B. Indore Road Near Rao Vs. Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Aazpc0120C Assessee By None Shri Ashish Porwal, Sr. Dr Revenue By Date Of Hearing 02.09.2024 Date Of Pronouncement 04 .09.2024

section 2(47), the three conditions for deemed transfer are: 1. There is an agreement to sale for purchase/sale of the property between the buyer and seller. 2. Part consideration has been passed to seller from the buyer. 3. Possession of the property under consideration has been passed out to the buyer. While the AO has denied the claim

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

54 taxmann.com 108 and submitted that Hon’ble High Court has held that primary onus of proof that the transaction is sham or bogus is on the department. The department in the case of the assessee has not discharged its primary onus and has merely alleged on the preponderance of probabilities that all the shares transactions related

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

54 taxmann.com 108 and submitted that Hon’ble High Court has held that primary onus of proof that the transaction is sham or bogus is on the department. The department in the case of the assessee has not discharged its primary onus and has merely alleged on the preponderance of probabilities that all the shares transactions related

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

54 taxmann.com 108 and submitted that Hon’ble High Court has held that primary onus of proof that the transaction is sham or bogus is on the department. The department in the case of the assessee has not discharged its primary onus and has merely alleged on the preponderance of probabilities that all the shares transactions related

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

bogus purchase or sham or make believe arrangement in light of material produced by the assessee on pages 50 to 53, pages 54 to 58,94 of Paper Book Vol.I and Page 36 of stock register etc. These documents were not examined by the Ld. A.O and no finding on purchases made from these two entities are given

SHRI BHAWANI SHANKAR PARASHAR,INDORE vs. THE DCIT/ACIT 1 (2), INDORE

In the result, appeal of assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanishri Bhawani Shankar Pr. Cit-1 Prashar Indore 28, Lasudia Mori, Vijay Vs. Nagar, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Bgbpp 2475 G Assessee By Shri S.N. Agrawal, Ar Revenue By Shri P.K. Mishra, Cit-Dr Date Of Hearing 02.05.2023 Date Of Pronouncement 21.06.2023

54,071/- against the return income of Rs.1,19,730/-. Subsequently on examination of the assessment record the Pr. CIT noticed certain discrepancies which are enumerated in the show Page 6 of 21 Bhawani Shankar Page 7 of 21 cause notice dated 06.01.2022. The only issue taken up by the Pr. CIT while issuing show cause notice

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 s. 54

DCIT-4(1), INDORE vs. M/S. YAKSHA INFRASTRUCTURE COM. PVT. LTD., TALOJA, RAIGARH

Appeal is dismissed

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

54,71,970/- us 68 of the IT Act. 1961 by stating that these transaction related to AY 2010-11- when the credit entries had been received in FY 2010-11, and the assessee company as well as the creditor entities failed to produce evidences for establishing the identity, genuineness and creditworthiness of the transactions? Ground

YAKSHA INFRASTRUCTURE COMPANY (P) LTD. (FORMERLY KNOWN FROLIC REALTY (P) LTD.),MUMBAI vs. DCIT-3(1) , INDORE

Appeal is dismissed

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

54,71,970/- us 68 of the IT Act. 1961 by stating that these transaction related to AY 2010-11- when the credit entries had been received in FY 2010-11, and the assessee company as well as the creditor entities failed to produce evidences for establishing the identity, genuineness and creditworthiness of the transactions? Ground

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 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

NILIMA KOTHARI,INDORE vs. THE INCOME TAX OFFICER, NATIONAL FACELESS ASSTT. CENTRE, INDORE

In the result appeal of the assessee is allowed as per terms indicated above

Bench: Shri Manish Boradsmt. Neelima Kothari, Income Tax Officer, 601, N.R.K. Villas, Delhi Vs. 22/2 Manoramaganj, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Adnpk7832J Assessee By Shri S.S. Deshpande, Ar Revenue By Shri Ashish Porwal, Sr.Dr Date Of Hearing 08.08.2024 Date Of Pronouncement 20.09.2024

purchased the share form that broker innocently and bonafidely and if he shows his bona fide in transaction by showing relevant material, facts and circumstances and documents, then merely on the basis of the reason that share broker was involved in dealing in the share of a particular co. in collusion with others or in the manner of unfair trade

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

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

bogus. It is also an open fact that the demonetization of Rs.500/- and\nRs.1000/- note was declared by the Hon'ble Prime Minister at 8 PM on 8-11-2016 and\nafter this announcement the persons reached the jewellery shop to buy jewellery in\nexchange of notes. Thus all such scenario indicates that the assessee had duly\nsubstantiated its claim