SWAN PETRCHEMICALS PVT. LTD.,MUMBAI vs. NFAC DELHI, DELHI

In the result appeal of the assessee is dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S. Swan Petrochemicals Dcit (Central), Pvt.Ltd, Indore Unit No.308 Acme Plaza, Opp. Sangam Cinema, Vs. Andheri Kurlka, Maharashtra (Appellant / Assessee) (Respondent/ Revenue) Pan: Aabcr9592C Assessee By Shri Ajay Tulsiyan & Ms. Ruchira Singhal, Ars Revenue By Shri Ashish Porwal, Sr.Dr Date Of Hearing 22.05.2024 Date Of Pronouncement 16.07.2024 O R D E R

purchase and sale of the particular commodity is within the difference of few seconds therefore, there is no dispute on this fact that the loss of Rs.44,57,310/- claimed by the assessee in the return of income as business loss is a speculative loss and impermissible to set off against the business income

THE ACIT,CENTRAL-1, INDORE vs. M/S PRAKASH OILS LTD., DHAR

In the result, the above captioned appeals filed by the Revenue as well as the

Bench: Shri C.M. Garg & Shri Bhagirath Mal Biyani

bogus losses or gain for the beneficiaries / clients and relying on such reports of DIT (I&CI) dated 04.02.2014 and the fact that the NMCE exchange has imposed penalties on the brokers for CO Nos.2 to 4/Ind/2022 their misconduct and disallowed the loss of Rs. 5,44,57,527/- through these brokers as non-genuine claim. Thereafter, during the course

THE ADDL. CIT RANGE -1, INDORE vs. M/S PRAKASH OILS LTD., DHAR

In the result, the above captioned appeals filed by the Revenue as well as the

Bench: Shri C.M. Garg & Shri Bhagirath Mal Biyani

bogus losses or gain for the beneficiaries / clients and relying on such reports of DIT (I&CI) dated 04.02.2014 and the fact that the NMCE exchange has imposed penalties on the brokers for CO Nos.2 to 4/Ind/2022 their misconduct and disallowed the loss of Rs. 5,44,57,527/- through these brokers as non-genuine claim. Thereafter, during the course

THE ACIT ,CENTRAL-1, INDORE vs. M/S PRAKASH OILS LTD., DHAR

In the result, the above captioned appeals filed by the Revenue as well as the

Bench: Shri C.M. Garg & Shri Bhagirath Mal Biyani

bogus losses or gain for the beneficiaries / clients and relying on such reports of DIT (I&CI) dated 04.02.2014 and the fact that the NMCE exchange has imposed penalties on the brokers for CO Nos.2 to 4/Ind/2022 their misconduct and disallowed the loss of Rs. 5,44,57,527/- through these brokers as non-genuine claim. Thereafter, during the course

ACIT,CENTRAL-1, INDORE vs. M/S ESSENCE COMMODITIES P LTD, INDORE

In the result all the appeals of revenue for A

Bench: Shri Chandra Mohan Garg & Shri Bhagirath Mal Biyani

set up by the Central Government to make close interaction with commodity exchanges. The learned counsel submitted that it is impossible to know the name of the counterparty broker from whom commodities were purchased or sold. Entire transaction is settled by banking channel through commodity exchange. Therefore the Ld. CIT(A) was right in deleting the addition. 7. The learned

ACIT (CENTRAL)-1 INDORE, INDORE vs. ESSENCE COMMODITIES (P) LTD., INDORE

In the result all the appeals of revenue for A

Bench: Shri Chandra Mohan Garg & Shri Bhagirath Mal Biyani

set up by the Central Government to make close interaction with commodity exchanges. The learned counsel submitted that it is impossible to know the name of the counterparty broker from whom commodities were purchased or sold. Entire transaction is settled by banking channel through commodity exchange. Therefore the Ld. CIT(A) was right in deleting the addition. 7. The learned

SHIV NARAYAN SHARMA,INDORE vs. ACIT CIRCLE 3(1), INDORE

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

purchase and sales were filed along with the Demat account and bank statement. However, Ld. CIT(A) was not satisfied and he confirmed the view taken by Ld. A.O observing that the assessee is indulged in arranging bogus LTCG, the appellant had made investment through the derecognised broker and have earned excessive return within a short span of time which

PRAYANK JAIN,INDORE vs. ACIT5(1), INDORE

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

purchase and sales were filed along with the Demat account and bank statement. However, Ld. CIT(A) was not satisfied and he confirmed the view taken by Ld. A.O observing that the assessee is indulged in arranging bogus LTCG, the appellant had made investment through the derecognised broker and have earned excessive return within a short span of time which

MANISH GOVIND AGRAWAL HUF,INDORE vs. I T O 2(1), INDORE

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

purchase and sales were filed along with the Demat account and bank statement. However, Ld. CIT(A) was not satisfied and he confirmed the view taken by Ld. A.O observing that the assessee is indulged in arranging bogus LTCG, the appellant had made investment through the derecognised broker and have earned excessive return within a short span of time which

DARSHAN KUMAR PAHWA,INDORE vs. DCIT CIRCLE5(1), INDORE

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

purchase and sales were filed along with the Demat account and bank statement. However, Ld. CIT(A) was not satisfied and he confirmed the view taken by Ld. A.O observing that the assessee is indulged in arranging bogus LTCG, the appellant had made investment through the derecognised broker and have earned excessive return within a short span of time which

GOVIND HARINARAYAN AGRAWAL HUF,INDORE vs. I T O 2(1), INDORE

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

purchase and sales were filed along with the Demat account and bank statement. However, Ld. CIT(A) was not satisfied and he confirmed the view taken by Ld. A.O observing that the assessee is indulged in arranging bogus LTCG, the appellant had made investment through the derecognised broker and have earned excessive return within a short span of time which

SAPAN SHAH,INDORE vs. ACIT-4(I), INDORE

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

purchase and sales were filed along with the Demat account and bank statement. However, Ld. CIT(A) was not satisfied and he confirmed the view taken by Ld. A.O observing that the assessee is indulged in arranging bogus LTCG, the appellant had made investment through the derecognised broker and have earned excessive return within a short span of time which

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:

bogus expenditure on account of purchase of M/s. Kalyan toll Highways Pvt. Ltd. ITANo.85/Ind/2020 Bitumen and then inflated the project cost and concluded that the appellant had made a wrong claim on account of expenditure incurred against cost of the project under consideration and is in default for furnishing inaccurate particulars of such income and levied a penalty

SHIVKRIPA DEVCON P LTD,INDORE vs. ITO 5(1), INDORE

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2012-13

bogus gain or loss. Ultimately, in Para No. 18, the AO doubted the purchase and sale of shares by assessee and thereby did not Page 2 of 6 Shivkrips Devcon Pvt.Limited,Indore vs. ITO Wd.5(1), Indore. A. Y. : 2012-13 accept the short-term loss suffered by assessee as genuine and made addition. Ld. AO also relied upon following

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

LOSS in their books. All these transactions are done on the stock exchange and as the sale of shares are done after a holding of one year they Page 10 of 51 ITANo.470/Ind/2023 Sadhuram Balani fall into the category of Long Term Capital Gain which is an exempt income as per the IT Act, 1961.” 5.1 Thus, all these averments

SHIVALAYA ENGINEERING WORKS,MANDIDEEP vs. ITO, BHOPAL

In the result we are of the considered opinion

Bench: Shri B.M. Biyani & Shri Paresh M Joshishivalaya Engineering Works, Ito बनाम/ E-75A, New Industrial Area, Bhopal Vs. Mandideep Huzur, Polaha, B.O. Raisen, (Pan:Acifs4103J (Appellant) (Respondent) Assessee By None Revenue By Shri Ashish Porwal, Sr.Dr Date Of Hearing 07.01.2026 Date Of Pronouncement 16.01.2026 आदेश/ O R D E R

loss account and even the said sum is added to income as bogus purchase. 4. The learned AO erred in adding Rs 3,990/- as interest income, whereas the assessee firm already disclosed higher Interest income in the books of account. The source information/ evidence also not provided while making the addition 5. The learned AO also not provided

THE ACIT CENTRAL-2, INDORE vs. M/S SHUBHAM FININVEST INDIA P LTD , INDORE

In the result, the appeal filed by the revenue for A

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

bogus sale and purchase entries only for diamond] 5. Accommodation entry in the nature of turnover trading 6. Accommodation entry for facilitating exit from bagus LTCG scheme in penny stock 5.2. It is pertinent to note that the assessee is a Private Ltd. Company and has shown schedule forming part of share capital as on 31.03.2008 of Rs.1

THE ACIT CENTRAL-2, INDORE vs. M/S SHUBHAM FININVEST INDIA P LTD , INDORE

In the result, the appeal filed by the revenue for A

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

bogus sale and purchase entries only for diamond] 5. Accommodation entry in the nature of turnover trading 6. Accommodation entry for facilitating exit from bagus LTCG scheme in penny stock 5.2. It is pertinent to note that the assessee is a Private Ltd. Company and has shown schedule forming part of share capital as on 31.03.2008 of Rs.1