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

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

money received from such supplies is again routed back to sister concern of the assessee. Ld. A.O accordingly considering the material available on record and finding of the case made the addition of Rs. 23 crores being the amount surrendered by the Chairman of the 44 AISECT Ltd ITA No.945, 946, 952 & 953/Ind/2019 company during the survey proceedings

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

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

money received from such supplies is again routed back to sister concern of the assessee. Ld. A.O accordingly considering the material available on record and finding of the case made the addition of Rs. 23 crores being the amount surrendered by the Chairman of the 44 AISECT Ltd ITA No.945, 946, 952 & 953/Ind/2019 company during the survey proceedings

BHARAT KALWANI,INDORE vs. ITO-4(3), INDORE

In the result, all the appeals filed by the assessee are allowed for statistical purposes, subject to the payment of costs as directed above

Bench: Shri Siddhartha Nautiyal & Shri Bhagirath Mal Biyani

unexplained money under section 69A of the Act even when the appellant was not the proprietor of M/s Rukmani Roadlines and Shri Sunil Kumar Lalwani (PAN: AAJPL4938M) himself was the proprietor of M/s Rukmani Roadlines 6. The appellant reserves the right to add, alter and modify the grounds of appeal as taken by him.” 3. The brief facts

BHARAT KALWANI,INDORE vs. ITO-4(3), INDORE

In the result, all the appeals filed by the assessee are allowed for statistical purposes, subject to the payment of costs as directed above

Bench: Shri Siddhartha Nautiyal & Shri Bhagirath Mal Biyani

unexplained money under section 69A of the Act even when the appellant was not the proprietor of M/s Rukmani Roadlines and Shri Sunil Kumar Lalwani (PAN: AAJPL4938M) himself was the proprietor of M/s Rukmani Roadlines 6. The appellant reserves the right to add, alter and modify the grounds of appeal as taken by him.” 3. The brief facts

BHARAT KALWANI,INDORE vs. ITO-4(3), INDORE

In the result, all the appeals filed by the assessee are allowed for statistical purposes, subject to the payment of costs as directed above

Bench: Shri Siddhartha Nautiyal & Shri Bhagirath Mal Biyani

unexplained money under section 69A of the Act even when the appellant was not the proprietor of M/s Rukmani Roadlines and Shri Sunil Kumar Lalwani (PAN: AAJPL4938M) himself was the proprietor of M/s Rukmani Roadlines 6. The appellant reserves the right to add, alter and modify the grounds of appeal as taken by him.” 3. The brief facts

M/S. FROLIC REALTY PRIVATE LIMITED,INDORE vs. THE ITO 3(3), INDORE

In the result, these three appeals of by different assessees in ITANo

Bench: Hon'Ble I Kul Bharat & Hon'Ble Manish Boradassessment Year: 2010-11 Avocado Trading Company Private Ito 3(3) Limited Indore बनाम/ G.J. Shah & Company, Chartered Vs. Accountants 404, Manas Bhawan, 11 Rnt Marg, Indore-452001 (Appellant) (Revenue) Pan: Aagca4206K Assessment Year: 2010-11 Aspirant Mercantile Company Private Ito 3(3) Limited Indore बनाम/ G.J. Shah & Company,Chartered Vs. Accountants 404, Manas Bhawan, 11 Rnt Marg, Indore-452001 (Appellant) (Revenue) Pan: Aagca4207J

money of Sat guru Iron & Steel as has been held by the AO. Avocado Trading Co. and others ITA Nos.362 to 364/Ind/2012 3.5 Without prejudice to above – the Addition of Only Credit Entries Shows Non Application of Mind • Creditors for purchases Creditors for purchases – applicability of s.68 applicability of s.68 Once purchases accepted as genuine Once purchases accepted as genuine

M/S. ASPIRANT MERCANTILE COMPANY PRIVATE LIMITED,INDORE vs. THE ITO 3(3), INDORE

In the result, these three appeals of by different assessees in ITANo

Bench: Hon'Ble I Kul Bharat & Hon'Ble Manish Boradassessment Year: 2010-11 Avocado Trading Company Private Ito 3(3) Limited Indore बनाम/ G.J. Shah & Company, Chartered Vs. Accountants 404, Manas Bhawan, 11 Rnt Marg, Indore-452001 (Appellant) (Revenue) Pan: Aagca4206K Assessment Year: 2010-11 Aspirant Mercantile Company Private Ito 3(3) Limited Indore बनाम/ G.J. Shah & Company,Chartered Vs. Accountants 404, Manas Bhawan, 11 Rnt Marg, Indore-452001 (Appellant) (Revenue) Pan: Aagca4207J

money of Sat guru Iron & Steel as has been held by the AO. Avocado Trading Co. and others ITA Nos.362 to 364/Ind/2012 3.5 Without prejudice to above – the Addition of Only Credit Entries Shows Non Application of Mind • Creditors for purchases Creditors for purchases – applicability of s.68 applicability of s.68 Once purchases accepted as genuine Once purchases accepted as genuine

M/S. AVOCADO TRADING COMPANY PRIVATE LIMITED,INDORE vs. THE ITO 3(3), INDORE

In the result, these three appeals of by different assessees in ITANo

Bench: Hon'Ble I Kul Bharat & Hon'Ble Manish Boradassessment Year: 2010-11 Avocado Trading Company Private Ito 3(3) Limited Indore बनाम/ G.J. Shah & Company, Chartered Vs. Accountants 404, Manas Bhawan, 11 Rnt Marg, Indore-452001 (Appellant) (Revenue) Pan: Aagca4206K Assessment Year: 2010-11 Aspirant Mercantile Company Private Ito 3(3) Limited Indore बनाम/ G.J. Shah & Company,Chartered Vs. Accountants 404, Manas Bhawan, 11 Rnt Marg, Indore-452001 (Appellant) (Revenue) Pan: Aagca4207J

money of Sat guru Iron & Steel as has been held by the AO. Avocado Trading Co. and others ITA Nos.362 to 364/Ind/2012 3.5 Without prejudice to above – the Addition of Only Credit Entries Shows Non Application of Mind • Creditors for purchases Creditors for purchases – applicability of s.68 applicability of s.68 Once purchases accepted as genuine Once purchases accepted as genuine

SHRI CHANDRA MOHAN SACHDEVA,BHOPAL vs. THE ACIT 1(2), BHOPAL

In the result, the appeals in I

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. Nos.857 & 858/Ind/2016 "नधा"रणवष" / Assessment Years: 2005-06 & 2006-07 Shri Chandra Mohan Assistant Commissioner Sachdeva, Of Income-Tax, E-5/59, Arera Colony, Vs. 1(2), Bhopal Bhopal

bogus purchases deserves to be quashed. B) Supression of Sales of eggs : B-l)A.Y. 2005-06 - Rs. 3,33,333/- Daily sales reports for the period 05-08-2004 to 09-08-2004 were found during survey. The AO observed that :- (a) In the daily production sale sheets sale in the name of Hazi and Anjumare were not reflected

SHRI CHANDRA MOHAN SACHDEVA,BHOPAL vs. THE ACIT 1(2), BHOPAL

In the result, the appeals in I

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. Nos.857 & 858/Ind/2016 "नधा"रणवष" / Assessment Years: 2005-06 & 2006-07 Shri Chandra Mohan Assistant Commissioner Sachdeva, Of Income-Tax, E-5/59, Arera Colony, Vs. 1(2), Bhopal Bhopal

bogus purchases deserves to be quashed. B) Supression of Sales of eggs : B-l)A.Y. 2005-06 - Rs. 3,33,333/- Daily sales reports for the period 05-08-2004 to 09-08-2004 were found during survey. The AO observed that :- (a) In the daily production sale sheets sale in the name of Hazi and Anjumare were not reflected

M/S MOIRA STEEL LTD.,INDORE vs. THE DCIT 1(1), INDORE

In the result appeal of the assessee is dismissed

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradassessment Year 2007-08 M/S. Moira Steel Ltd, Dcit-1(1), 103, Laxmi Tower, Vs. Indore 576, M.G. Road, Indore (Appellant) (Respondent ) Pan Aabcm2051K Revenue By Shri K.G. Goel, Sr.Dr Assessee By Shri V.P. Rawka, Ca Date Of Hearing 10.04.2019 Date Of Pronouncement 14.05.2019 O R D E R

unexplained share application money made u/s 68 of the Act at Rs.50,00,000/- received from following two companies; (i) Rolled Gold Industries Ltd Rs. 20 lakhs (ii) BPO Finance & Investments Pvt. Ltd Rs.30 lakhs 8. Ld. Counsel for the assessee has referred to various documents including audited balance sheet, PAN Number, I.T. returns, financial and bank statements in order

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

unexplained cash credit u/s 68 of the Income-tax Act, 1961 without appreciating that in view of paper creditors without financial or commercial substance and failure on part of assessee to produce share applicants for cross examination, the burden of assessee in establishing the identity, creditworthiness and genuineness of transactions as required u/s 68 of the Income Tax Act could

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

unexplained cash credit u/s 68 of the Income-tax Act, 1961 without appreciating that in view of paper creditors without financial or commercial substance and failure on part of assessee to produce share applicants for cross examination, the burden of assessee in establishing the identity, creditworthiness and genuineness of transactions as required u/s 68 of the Income Tax Act could

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

bogus, not entire amount covered under such purchases but profit element embedded therein would be subject to tax. 6.If the purchases are rejected, the sales would also be reduced. The goods of the appellant are subject to excise. Quantitative details were given with the return of income (alongwith Auditor's report in Form No. 3CD). To illustrative the quantitative data

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

bogus, not entire amount covered under such purchases but profit element embedded therein would be subject to tax. 6.If the purchases are rejected, the sales would also be reduced. The goods of the appellant are subject to excise. Quantitative details were given with the return of income (alongwith Auditor's report in Form No. 3CD). To illustrative the quantitative data

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

bogus, not entire amount covered under such purchases but profit element embedded therein would be subject to tax. 6.If the purchases are rejected, the sales would also be reduced. The goods of the appellant are subject to excise. Quantitative details were given with the return of income (alongwith Auditor's report in Form No. 3CD). To illustrative the quantitative data

DR. VINOD BHANDARI,INDORE vs. THE ACIT CIR. 2(1), INDORE

In the result appeal of the assessee is allowed

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2012-13 Shri Vinod Bhandari, Pr. Cit(1), Indore 21- Gf, Bhandari House, Talkies, Scheme No.54, Vs. Vijay Nagar, Indore (Appellant) (Revenue ) Pan No.Abnpb6240M Assessment Year: 2012-13

purchased by you 37. The assessee duly replied to the above show cause notice dated 16.3.15 giving complete details about the information called for in the show cause notice and the same is extracted below:- With reference to above, and further to our hearing held on 09/03/2015 we are submitting the following pending documents for your kind perusal:- 1. Credit

SHRI VINOD BHANDARI,INDORE vs. THE PR.CIT-1, INDORE

In the result appeal of the assessee is allowed

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2012-13 Shri Vinod Bhandari, Pr. Cit(1), Indore 21- Gf, Bhandari House, Talkies, Scheme No.54, Vs. Vijay Nagar, Indore (Appellant) (Revenue ) Pan No.Abnpb6240M Assessment Year: 2012-13

purchased by you 37. The assessee duly replied to the above show cause notice dated 16.3.15 giving complete details about the information called for in the show cause notice and the same is extracted below:- With reference to above, and further to our hearing held on 09/03/2015 we are submitting the following pending documents for your kind perusal:- 1. Credit