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

56,032/- made u/s 37 of the Act. That on the facts and in the circumstances of the case and in law, provisions of section 37 are not attracted at all in this case. 5. That the appellant craves leave to add, to alter, amend, modify, substitute, delete and/or rescind all or any of the grounds of appeal

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

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

56. 3. Before the Tribunal Ld. AR of the assesse has submitted that the assesse purchased 30,000/- equity shares of M/s Santoshima Tradelinks Ltd. for consideration of Rs.6,00,000/- on 29.09.2011. The payment was duly reflected in the bank account statement of the assesse vide entry dated 17.09.2011 placed at page no.85 & 86 of the paper book

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

56 (Calcutta) 2. Shyam Sunder Bajaj vs. ITO 145 taxmann.com 315 (Kolkata-Trib) 3. Suman Poddar vs. ITO 112 taxmann.com 330 (SC) 4. Sandeep Bhargava vs. ACIT 109 taxmann.com 174 (Delhi –Trib) 5.Pooja Ajmani vs. ITO 177 ITD 127 (Delhi –Trib) 8. He has submitted that in the above decisions when the investment was made in the Penny stock companies

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

56 (Calcutta) 2. Shyam Sunder Bajaj vs. ITO 145 taxmann.com 315 (Kolkata-Trib) 3. Suman Poddar vs. ITO 112 taxmann.com 330 (SC) 4. Sandeep Bhargava vs. ACIT 109 taxmann.com 174 (Delhi –Trib) 5.Pooja Ajmani vs. ITO 177 ITD 127 (Delhi –Trib) 8. He has submitted that in the above decisions when the investment was made in the Penny stock companies

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

56 (Calcutta) 2. Shyam Sunder Bajaj vs. ITO 145 taxmann.com 315 (Kolkata-Trib) 3. Suman Poddar vs. ITO 112 taxmann.com 330 (SC) 4. Sandeep Bhargava vs. ACIT 109 taxmann.com 174 (Delhi –Trib) 5.Pooja Ajmani vs. ITO 177 ITD 127 (Delhi –Trib) 8. He has submitted that in the above decisions when the investment was made in the Penny stock companies

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

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

purchase of a BMW car, borrowing of loans from Sindhi Financiers, 36 Shri Jairam Education Society ITA No.90 & 548/Ind/2019 non maintenance of regular books of accounts, violations of provisions of Sec.13(1)( c) of the Act in as much as the trustees were paid enormous salary are all by way of passing reference having norelevance to whether

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

purchase of a BMW car, borrowing of loans from Sindhi Financiers, 36 Shri Jairam Education Society ITA No.90 & 548/Ind/2019 non maintenance of regular books of accounts, violations of provisions of Sec.13(1)( c) of the Act in as much as the trustees were paid enormous salary are all by way of passing reference having norelevance to whether

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

SOM DISTILLERIES PVT. LTD.,BHOPAL vs. ITO-1(3), BHOPAL

Appeal is partly allowed for statistical

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

section 250(2)(b) of the Act and in response to his notice, the AO failed to submit any report. Further, in absence of any specific request from the AO, the CIT(A) presumed that the AO did not want to attend the hearings. Thus, when the case involved whopping addition and the AO considered his additions on sound footing

ASST. COMMISSIONER OF INCOME TAX (CENTRAL)-I, BHOPAL , BHOPAL vs. SOM DISTILLERIES PRIVATE LIMITED, BHOPAL

Appeal is partly allowed for statistical

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

section 250(2)(b) of the Act and in response to his notice, the AO failed to submit any report. Further, in absence of any specific request from the AO, the CIT(A) presumed that the AO did not want to attend the hearings. Thus, when the case involved whopping addition and the AO considered his additions on sound footing

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

OMPRAKASH JAISWAL,INDORE vs. ACIT-1(1), INDORE

Appeal is partly allowed for statistical purpose

56,25,000) is the\nunrealistic cash in hand increased and shown by the assessee and the\nassessee has deposited the cash out of unrealistic and non-satisfactory\ncash in hand.\nIn this regard, vide order sheet dated 09.12.2019, the Ld. Counsel of\nthe assessee has been confronted the discrepancies found above vide\norder sheet 09.12.2019.\nOn perusal of cash

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

SHRI KRISHNA MOHAN CHOURSIYA, RAJGARH vs. ITO, RAJGARH

In the result, the assessee’s appeal i

Bench: Hon’Ble Rajpal Yadav & Shri Manish Boradvirtual Hearing Assessment Year: 2014-15

56 taxmann.com 260/ 153 ITD 433 (Mum.) • CIT v. Ashven Datla [2013] 37 taxmann.com 261/ 218 Taxman 74 (Mag.)(AP) On consideration of above, we find force in the contention of the ld. Counsel for the assessee that fair market value of land as on the date of diversion i.e. on 25.11.2010 shall be taken as Rs.68,90,415/-. Thus

INCOME TAX OFFICER INDORE 5(1), INDORE vs. UMANG DEVELOPERS, INDORE

Appeals are dismissed

bogus sundry creditors while the\nissue required proper verification.\n4. On the facts and circumstances of the case, Ld. CIT(A) erred in deleting the\naddition of Rs.4,05,38,902/- ignoring the fact that the adverse finding of AO\nsubmitted in Remand report where it is specifically concluded that an amount\nof Rs.2,85,64,210/- (Rs.1,56

INCOME TAX OFFICER 5(1), INDORE vs. UMANG DEVELOPERS, INDORE

Appeals are dismissed

bogus sundry creditors while the\nissue required proper verification.\n4. On the facts and circumstances of the case, Ld. CIT(A) erred in deleting the\naddition of Rs.4,05,38,902/- ignoring the fact that the adverse finding of AO\nsubmitted in Remand report where it is specifically concluded that an amount\nof Rs.2,85,64,210/- (Rs.1,56