M/S NIKHIL ESTATE P LTD,INDORE vs. THE ACIT CENTRAL CIRCLE (3) INDORE, INDORE

In the result, appeal of assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S. Nikhil Estate Pvt. Ltd. Acit (Central)-3 M-102, Mezzanine, Floor, Indore Dhan Trident, P. No.B-3 Pu- Vs. 4, Sch. No.54, Vijay Nagar Square, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Aabcn 8056 D Assessee By Shri S.S. Solanki, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 01.05.2023 Date Of Pronouncement 09.06.2023

gains of the business and profession". In the course of assessment the assessee submitted .its explanation on why the undisclosed stock should be treated as a business income. In this connection it was stated that at the time of search, the investigating officers found unaccounted stock in the business premise of the assessee at 114/116, Mittal Court, 'C' Wing, 11th

THE ACIT CENTRAL-UJJAIN, UJJAIN vs. M/S ITALIAN EDIBLES P LTD, INDORE

In the result, appeal of the revenue is dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniacit (Central) M/S. Italian Edibles Pvt. Ujjain Ltd. Vs. Udhyog Nagar, Palda Indore (Appellant / Revenue) (Assessee /Respondent) Pan: Aacci 2746N Revenue By Ms. Simran Bhullar, Cit-Dr Respondent By Shri Pankaj Shah & Soumya Bumb Ars Date Of Hearing 12.10.2023 Date Of Pronouncement 19.12.2023

capital account and without showing the same as Page 11 of 20 ITANo.219/Ind/2022 Italian Edible Pvt. additional income. Therefore, the additional income offered was not shown in profit and loss account. Thus, the AO was justified in making addition on account of undisclosed income declared in statement recorded on oath u/s 132(4) during search. Also, the appellant has accepted

SHRI PREMDEEP RAJPUT,INDORE vs. THE CENTRAL CIRCLE UJJAIN, UJJAIN

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2018-19 Shri Premdeep Rajput, Acit, 47-B, Sector A, Central Circle, बनाम/ Industrial Estate, Ujjain Vs. Sanwer Road, Indore (Assessee / Appellant) (Revenue / Respondent) Pan: Abvpr8534N Assessee By Shri Sushil Jethani & Shri V.K. Bhandari, Adv. Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 01.06.2023 Date Of Pronouncement 25.08.2023

capital account and without showing the same as additional income. Therefore, the additional income offered was not shown in profit and loss account. Thus, the AO was justified in making addition on account of undisclosed income declared in statement recorded on oath u/s 132(4) during search. Also, the appellant has accepted the addition made by the AO amounting

ASHOK KUMAR MOONAT,RATLAM vs. ASSTT. COMMISSIONER OF INCOME TAX (CENTRAL-3), INDORE, INDORE

capital account\nand without showing the same as additional income. Therefore, the\nadditional income offered was not shown in profit and loss account.\nThus, the AO was justified in making addition on account of\nundisclosed income declared in statement recorded on oath u/s 132(4)\nduring search. Also, the appellant has accepted the addition made by\nthe AO amounting

BRIJ MOHAN DAS DEVI PRASAD,SEHORE vs. THE ACIT CENTRAL CIRCLE -2 BHOPAL, BHOPAL

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2018-19 M/S.Brij Mohandas Devi Acit/Dcit, Prasad, Central Circle 2, बनाम/ House No. 62, Ward No.18, Bhopal Station Road, Vs. Sehore (Assessee / Appellant) (Revenue / Respondent) Pan: Aadfb3526F Assessee By Shri Kunal Agrawal, Ca & Shri Mahesh Agrawal, Ca, Ld. Ars Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 20.04.2023 Date Of Pronouncement 17.07.2023

capital account and without showing the same as additional income. Therefore, the additional income offered was not shown in profit and loss account. Thus, the AO was justified in making addition on account of undisclosed income declared in statement recorded on oath u/s 132(4) during search. Also, the appellant has accepted the addition made by the AO amounting

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

capital gain as the assessee claimed purchase of these shares off market and thereafter these were dematerialized Page 7 of 51 ITANo.470/Ind/2023 Sadhuram Balani just before the sale at steep rise of share price about 25 times of the purchase price. This shows that it is not a normal transaction of purchase and sale of shares but the transactions were

RAMANLAL PIRODIA,RATLAM vs. ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL-3, AAYKAR BHAWAN

capital account\nand without showing the same as additional income. Therefore, the\nadditional income offered was not shown in profit and loss account.\nRamanlal Pirodia\nITA No.778/Ind/2025\n Assessment year 2019-20\nThus, the AO was justified in making addition on account of\nundisclosed income declared in statement recorded on oath u/s 132(4)\nduring search. Also, the appellant

HARPREET KAUR,BHOPAL vs. INCOME-TAX OFFICER, 5(2), BHOPAL, BHOPAL

Appeal is allowed in terms mentioned above

income from house\nHarpreet Kaur\nITA No. 730/Ind/2024 – AY 2009-10\nproperty, profits and gains of business or profession, capital

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

Income-tax Act, 1961, we are unable to accept the contention. Section 2(14)(iii) refers to the exclusion as capital asset of agricultural lands situate in an area which is comprised within the jurisdiction of a municipality (whether known as municipality or municipal corporation, notified area committee, town area committee, town committee or by any other name

PRADEEP PINJANI,BHOPAL vs. ITO-1(2), BHOPAL

Appeal is allowed as mentioned above

business amounting to Rs 6,29,230/- which is duly supported by\nAudited Final Accounts and the Tax Audit report held on records and duly\nclaimed by the assessee in the return of income filed.\n\n5. That having regard to the facts and circumstances of the case, the Ld. CIT(A)\nerred on facts

SRK DEV BUILD PVT LTD.,INDORE vs. DCIT/ACIT 5(1), INDORE

Appeal is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2016-17 Srk Dev Build Pvt. Ltd, Dcit/Acit-5(1) 18/2, Lasudia Mori, Indore बनाम/ A.B. Road, Vs. Indore (Assessee/Appellant) (Revenue/Respondent) Pan: Aaqcs3387P Assessee By Shri Pranay Goyal & S.N. Goyal, Cas Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 15.04.2024 Date Of Pronouncement 20.06.2024

business income. Under the provisions of section 271(1)(c), the pre-requisite condition for initiation of penalty is that there should concealment of income or furnishing inaccurate particulars of income. However, both the conditions are absent in this case, since whatever income was declared was accepted and assessee declared full details of short term capital gains

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

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

capital gain on sale of shares. He failed to appreciate that the appellant did not earn long term gain but incurred business loss on trading in shares of VAS Infra. There was no evidence to show that the assessee has pre-arranged any profit/loss through these shares. The appellant has been carrying on business of dealing in shares treating such

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

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

capital gain on sale of shares. He failed to appreciate that the appellant did not earn long term gain but incurred business loss on trading in shares of VAS Infra. There was no evidence to show that the assessee has pre-arranged any profit/loss through these shares. The appellant has been carrying on business of dealing in shares treating such

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

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

capital gain on sale of shares. He failed to appreciate that the appellant did not earn long term gain but incurred business loss on trading in shares of VAS Infra. There was no evidence to show that the assessee has pre-arranged any profit/loss through these shares. The appellant has been carrying on business of dealing in shares treating such

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

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

capital gain on sale of shares. He failed to appreciate that the appellant did not earn long term gain but incurred business loss on trading in shares of VAS Infra. There was no evidence to show that the assessee has pre-arranged any profit/loss through these shares. The appellant has been carrying on business of dealing in shares treating such

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

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

capital gain on sale of shares. He failed to appreciate that the appellant did not earn long term gain but incurred business loss on trading in shares of VAS Infra. There was no evidence to show that the assessee has pre-arranged any profit/loss through these shares. The appellant has been carrying on business of dealing in shares treating such

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

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

capital gain on sale of shares. He failed to appreciate that the appellant did not earn long term gain but incurred business loss on trading in shares of VAS Infra. There was no evidence to show that the assessee has pre-arranged any profit/loss through these shares. The appellant has been carrying on business of dealing in shares treating such

THE ACIT, CENTRAL-2, INDORE vs. SHRI NITESH CHUGH, INDORE

In the result, the appeals of the Revenue for the A

Bench: Shri Rajpal Yadav Hon'Ble & Shri Manish Borad(Virtual Hearing)

income from short-term capital gain from sale of units in ‘The View’ project. The Ld. CIT(A) noted that the Assessing Officer has added Rs.30 on account of profit and Rs.100/- as on- money received i.e. Rs.130/- on sales of Rs.100/- which is highly improbable and arbitrary in the line of this business