THE DCIT CENTRAL-2, INDORE vs. SMT PRITIBEN PATEL, BARWANI

In the result, appeal of the revenue is dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanidcit, Central-2 Smt. Pritiben Patel Indore Subhash Choak, Khetiya, Barwani Vs. Maharashtra

bogus sales of diesel and petrol and therefore, the books of account of the assesse are not reliable and liable to be rejected u/s 145(3) of the Act. The AO consequently treated the entire cash deposit in the bank account of the assesse to the tune of Rs. 1,37,25,500/- as unexplained cash credit and added

DCIT , CENTRAL -2 , INDORE vs. M/S GREAT GALLEON VENTURES LTD , INDORE

In the result, the appeals of the Revenue bearing ITANo

Bench: Shri Rajpal Yadav Hon'Ble & Shri Manish Borad

bogus loans by the assessee is evident from one mobile message, the screenshot which has been reproduced by the AO at page no. 24 of his Order. The ld. CIT(DR) also stressed that the names of the lender companies were included in the list of the shell companies notified by the Department. M/sGreat Galleon Ventures

DCIT , CENTRAL -2 , INDORE vs. M/S GREAT GALLEON VENTURES LTD , INDORE

In the result, the appeals of the Revenue bearing ITANo

Bench: Shri Rajpal Yadav Hon'Ble & Shri Manish Borad

bogus loans by the assessee is evident from one mobile message, the screenshot which has been reproduced by the AO at page no. 24 of his Order. The ld. CIT(DR) also stressed that the names of the lender companies were included in the list of the shell companies notified by the Department. M/sGreat Galleon Ventures

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

purchase, sale, taking on lease, letting out development/ construction of property. E- M/s. Radheshwari Developers Pvt. Ltd. return of income filed on 27.09.2013 declaring loss of Rs.51,72,569/- which comprises of depreciation loss at Rs.1,53,066/- and business loss of Rs.50,19,503/-. Case selected for scrutiny assessment through CASS for the reason ‘large unsecured loans’. Notices

M/S OREF SECURITIES PRIVATE LTD. ,MANDSAUR vs. INCOME TAX OFFICER, INDORE

In the result, appeal of the assessee is allowed

Bench: Shri Manish Borad & Ms.Madhumita Royआयकर अपील सं./ Ita No.70/Ind/2018 "नधा"रण वष"/Asstt. Year: 2013-14 Vs. Ito, Mandsaur. M/S.Oref Securities P.Ltd. 69, Agrasen Nagar B/H. Mid India Mandsaur.

unexplained cash credit under section 68- Commissioner (Appeals) held that five companies subscribing equity share amounting to Rs.25 lakhs were identified _ and they had submitted their bank statements, cash extracts and returns-filling receipt - He , therefore, deleted impugned addition made by assessing officer -Tribunal upheld order of commissioner (Appeals) - supreme court while dealing with similar issue in various cases held

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

Appeals are dismissed

purchases were made during\nthe year). Thus, the appellant has discharged the onus cast upon it. It was\nopen to the AO to cross verify the invoices from market during Remand stage\nwhich could not be done at assessment stage due to Covid Pandemic. But this\nwas not done. No fault has been reported by the AO in Remand Report

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

Appeals are dismissed

purchases were made during\nthe year). Thus, the appellant has discharged the onus cast upon it. It was\nopen to the AO to cross verify the invoices from market during Remand stage\nwhich could not be done at assessment stage due to Covid Pandemic. But this\nwas not done. No fault has been reported by the AO in Remand Report

HIMANSHU BOTADEARA HUF,INDORE vs. THE ITO 4(3), INDORE

In the result, these two appeals filed by the assesse are

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

unexplained cash credit as understood within the meaning of Section 68 of the Income-tax Act, 1961, and accordingly Rs. 2,09,239/- is being added to the assessee’s total income under this section.” Thus, the AO has proceeded purely on the assumption that the assessee has availed the accommodation entries of bogus capital gains on account of purchase

HIMANSHU BOTADEARA HUF,INDORE vs. THE ITO 4(3), INDORE

In the result, these two appeals filed by the assesse are

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

unexplained cash credit as understood within the meaning of Section 68 of the Income-tax Act, 1961, and accordingly Rs. 2,09,239/- is being added to the assessee’s total income under this section.” Thus, the AO has proceeded purely on the assumption that the assessee has availed the accommodation entries of bogus capital gains on account of purchase

SMT. RUKMANI KHANDELWAL,INDORE vs. ITO-4(3), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

unexplained cash credit u/s 68 of the IT Act when the assessee has been able to discharge its primary onus effectively and satisfactorily. The Revenue could not establish live link between cash deposited by the assessee in form of long term capital gain. 4. The Revenue’s allegation that investigation was carried out by various authorities and SEBI and that

RADHESHYAM KHANDELWAL,INDORE vs. ACIT4(1), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

unexplained cash credit u/s 68 of the IT Act when the assessee has been able to discharge its primary onus effectively and satisfactorily. The Revenue could not establish live link between cash deposited by the assessee in form of long term capital gain. 4. The Revenue’s allegation that investigation was carried out by various authorities and SEBI and that

SMT. SANDHYA KHANDELWAL,INDORE vs. ITO 4(3), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

unexplained cash credit u/s 68 of the IT Act when the assessee has been able to discharge its primary onus effectively and satisfactorily. The Revenue could not establish live link between cash deposited by the assessee in form of long term capital gain. 4. The Revenue’s allegation that investigation was carried out by various authorities and SEBI and that

SHRI SURESH KHANDELWAL,INDORE vs. THE ITO-4(1), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

unexplained cash credit u/s 68 of the IT Act when the assessee has been able to discharge its primary onus effectively and satisfactorily. The Revenue could not establish live link between cash deposited by the assessee in form of long term capital gain. 4. The Revenue’s allegation that investigation was carried out by various authorities and SEBI and that

MOHANLAL KHANDELWAL,INDORE vs. THE ITO-4(1), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

unexplained cash credit u/s 68 of the IT Act when the assessee has been able to discharge its primary onus effectively and satisfactorily. The Revenue could not establish live link between cash deposited by the assessee in form of long term capital gain. 4. The Revenue’s allegation that investigation was carried out by various authorities and SEBI and that

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

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

cash credit towards Long Term Capital Gain earned on sale of shares on stock exchange, by holding it as bogus, more particularly when Ld. A.O relied merely on third party information and failed to bring any positive, direct and cogent material on record to substantiate the impugned treatment for making the addition. 4. On the facts and in the circumstances

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

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

cash credit towards Long Term Capital Gain earned on sale of shares on stock exchange, by holding it as bogus, more particularly when Ld. A.O relied merely on third party information and failed to bring any positive, direct and cogent material on record to substantiate the impugned treatment for making the addition. 4. On the facts and in the circumstances

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

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

cash credit towards Long Term Capital Gain earned on sale of shares on stock exchange, by holding it as bogus, more particularly when Ld. A.O relied merely on third party information and failed to bring any positive, direct and cogent material on record to substantiate the impugned treatment for making the addition. 4. On the facts and in the circumstances

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

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

cash credit towards Long Term Capital Gain earned on sale of shares on stock exchange, by holding it as bogus, more particularly when Ld. A.O relied merely on third party information and failed to bring any positive, direct and cogent material on record to substantiate the impugned treatment for making the addition. 4. On the facts and in the circumstances