S T I INDIA LTD.,INDORE vs. ACIT-5(1), INDORE

Appeals are disposed of as under:

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

capital assets. The waiver of loan is not equivalent to reimbursement or a grant or a subsidy. Hence, it is held that the waiver does not fall within the ambit of explanation (10) to section 43(1) or proviso thereof. Therefore, following the judgment of Hon’ble High Court of Kerala in the case of CIT Vs. Kochin

ACIT-5(1), INDORE vs. S T I INDIA LTD., INDORE

Appeals are disposed of as under:

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

capital assets. The waiver of loan is not equivalent to reimbursement or a grant or a subsidy. Hence, it is held that the waiver does not fall within the ambit of explanation (10) to section 43(1) or proviso thereof. Therefore, following the judgment of Hon’ble High Court of Kerala in the case of CIT Vs. Kochin

ACIT-5(1), INDORE vs. S T I INDIA LTD., INDORE

Appeals are disposed of as under:

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

capital assets. The waiver of loan is not equivalent to reimbursement or a grant or a subsidy. Hence, it is held that the waiver does not fall within the ambit of explanation (10) to section 43(1) or proviso thereof. Therefore, following the judgment of Hon’ble High Court of Kerala in the case of CIT Vs. Kochin

ACIT-5(1), INDORE vs. S T I INDIA LTD., INDORE

Appeals are disposed of as under:

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

capital assets. The waiver of loan is not equivalent to reimbursement or a grant or a subsidy. Hence, it is held that the waiver does not fall within the ambit of explanation (10) to section 43(1) or proviso thereof. Therefore, following the judgment of Hon’ble High Court of Kerala in the case of CIT Vs. Kochin

S T I INDIA LTD.,INDORE vs. ACIT-5(1), INDORE

Appeals are disposed of as under:

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

capital assets. The waiver of loan is not equivalent to reimbursement or a grant or a subsidy. Hence, it is held that the waiver does not fall within the ambit of explanation (10) to section 43(1) or proviso thereof. Therefore, following the judgment of Hon’ble High Court of Kerala in the case of CIT Vs. Kochin

S T I INDIA LTD.,INDORE vs. ACIT-5(1), INDORE

Appeals are disposed of as under:

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

capital assets. The waiver of loan is not equivalent to reimbursement or a grant or a subsidy. Hence, it is held that the waiver does not fall within the ambit of explanation (10) to section 43(1) or proviso thereof. Therefore, following the judgment of Hon’ble High Court of Kerala in the case of CIT Vs. Kochin

S T I INDIA LTD.,INDORE vs. ACIT-5(1), INDORE

Appeals are disposed of as under:

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

capital assets. The waiver of loan is not equivalent to reimbursement or a grant or a subsidy. Hence, it is held that the waiver does not fall within the ambit of explanation (10) to section 43(1) or proviso thereof. Therefore, following the judgment of Hon’ble High Court of Kerala in the case of CIT Vs. Kochin

SUBHASH CHANDRA AGRAWAL,VIDISHA vs. ITO, VIDISHA, VIDISHA

Appeal is allowed

Bench: Shri B.M. Biyani & Shri Paresh M. Joshiassessment Year:2019-20 Subhash Chandra Ito, Agrawal, Vidisha बनाम/ Galla Mandi, Vs. Vidisha (Assessee/Appellant) (Revenue/Respondent) Pan: Afrpa8769A Assessee By Shri Ashish Goyal & Shri Jaideep Jain, Ars Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 23.02.2026 Date Of Pronouncement 27/02/2026

Capital Gain in return of income filed to department, Ld. AR asserted this mistake of assessee in open court with regret on behalf of assessee). Therefore, while Page 2 of 10 Subhash Chandra Agrawal ITA No. 354/Ind/2025 – AY 2019-20 processing return of assessee u/s 143(1), the AO invoked section

VIMAL TODI,INDORE vs. ADDITIONAL COMMISSIONER OF INCOME TAX, INDORE

Appeal is allowed

Bench: Shri B.M. Biyani & Shri Paresh M Joshishri Vimal Todi, Additional Commissioner बनाम/ 501, Darshan Residency, Of Income-Tax, Vs. 104-105, Anand Bazar, Indore Indore

Capital & Finlease Ltd. (2015) 378 ITR 614 (Delhi) (c) PCIT Vs. Rishikesh Buildcon Private Limited (2023) 451 ITR 108 (Delhi) 12. With these submissions, Ld. AR prayed to quash the penalty- orders as time-barred. 13. Per contra, Ld. DR submitted that in Para 20.5 of assessment- order, there is no initiation of penalty-proceedings

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

1,41,64,369/- made by the Assessing Officer to the total income of the appellant on account of long-term capital gain earned on sale of shares of M/s Sunrise Asian Limited by ITANo.470/Ind/2023 Sadhuram Balani denying the benefit of exemption under section 10

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

10(38) of the Act at Rs.24,39,177/- on account of Long Term Capital Gain from sale of equity shares of M/s. Goenka business & Finance Ltd. The case was processed u/s 143(1)(a) of the Act. Subsequently for carrying 4 Smt. Nilima Kothari out the reassessment proceedings the notice u/s 148 of the Act issued

RAMKUNWAR PATIDAR,BHOPAL vs. THE ITO 2 (4), BHOPAL

Appeal is dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year : 2009-10 Shri Ramkunwar Patidar, Income-Tax Officer, Village Salliya, 2(4), बनाम/ Post Bawadia Kalan, Bhopal Vs. Bhopal (Appellant/Assessee) (Respondent/Revenue) Pan: Blxpp4909C Assessee By Shri S.S.Solanki, Ca & Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 15.01.2024 Date Of Pronouncement 22.02.2024

section 143(3) of Income-tax Act, 1961 [“the Act”] for Assessment-Year [“AY”] 2009-10, the assessee has filed this appeal on following grounds: Original grounds raised in Form No. 36: 1. That in the facts and circumstances of the case the Ld. CIT(A) and Ld. AO has made addition of Rs. 30,46,354/- as income from

M/S TRUBA EDUCATION SOCIETY ,BHOPAL vs. PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL) BHOPAL, BHOPAL

10 or\nclause (ii) or clause (iii) of sub-section (4) of section 12AB:\"\n[Emphasis supplied]\n11.\nThus, referring to above amendments/developments in the Act, Ld. AR\nmade a straightforward submission that the concept of “specified violations\" in\nsection 12AB(4); the 2nd proviso to section 143(3) empowering the AO to\nmake a reference to PCIT(Central

KANHAIYA LAL PANCHAL,RATLAM vs. BPL-W-(91)(95), RATLAM

In the result, the appeal of the assessee is allowed

Bench: Shri B.M. Biyani & Shri Paresh M. Joshiassessment Year:2024-25 Kanhaiya Lal Panchal, Bpl-W-(91)(95) 1, Jadwasa Kala, बनाम/ Ratlam Vs. (Assessee/Appellant) (Revenue/Respondent) Pan: Aqrpp0055D Assessee By Shri Kaide Kangsawala, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 06.01.2026 Date Of Pronouncement 16.01.2026

1), the rebate under section 87A shall be allowed from the income-tax on the total income as reduced by tax payable on such capital gains. 5.11 The absence of a corresponding clause in section 111A is legally significant and supports the principle that – when the legislature intended to deny rebate in respect of special income (as in section 112A

GOVERDHAN LAL YADAV,INDORE vs. INCOME TAX OFFICER-3(5), INDORE

Appeal is allowed

Bench: Shri B.M. Biyani & Shri Paresh M. Joshiassessment Year : 2015-16 Goverdhan Lal Yadav, Ito-3(5) 112/12, Nanda Nagar, Indore बनाम/ Opp. Anoop Takies, Vs. Indore (Revenue / Appellant) (Assessee / Respondent) Pan: Aaypy9432A Assessee By Shri Venus Rawka, Ar Revenue By Shri Anoop Singh, Cit-Dr Date Of Hearing 22.07.2025 Date Of Pronouncement 24.07.2025 आदेश/ O R D E R

10,46,013/- against which claimed indexed cost of acquisition of Rs. 81,538/-, leaving net capital gain of Rs. 3,09,64,475/-. From such capital gain, the assessee claimed exemption u/s 54B of Rs. 3,09,64,475/- on the strength of investment in another agricultural land situated at Gram Bijukhedi, Indore purchased

VISHAL GIFT CENTRE - LLP,INDORE vs. ACIT CENTRAL CIRCLE - 1, INDORE

Appeal is allowed for statistical purposes

section 2(14)(iii)(b), and (ii) the\nassessee sold land to a builder after obtaining diversion for non-\nagricultural use, therefore the land was not 'agricultural'. Ultimately,\nthe AO completed assessment after assessing a long-term capital gain\nof Rs.1,04,95,230/- and Rs.1,49,41,169/- respectively from\nimpugned transactions, thereby making an aggregate addition

KESHAV KANUNGO,BHOPAL vs. ACIT2(1) BHOPAL, BHOPAL

Appeal is allowed in terms mentioned above

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2015-16 Keshav Kanungo, Acit, Flat No. A-603, Circle-2(1), Virasha Heights, Bhopal बनाम/ Near Danish Bridge, Vs. Bhopal (Appellant/Assessee) (Respondent/Revenue) Pan: Abvpk 2942 F Assessee By Ms. Nisha Lahoti, Ar Revenue By Shri Ashish Porwal, Sr Dr Date Of Hearing 12.02.2024 Date Of Pronouncement 26.02.2024

capital gain account within Page 3 of 10 Keshav Kanungo, Bhopal ITA No. 263/Ind/2023 – AY 2015-16 the prescribed time limit but he could invest only Rs. 49,18,500/- in purchase of new flat hence, he offered Rs. 26,48,811/- in A.Y. 2018-19 as per the proviso to section 54F(1

DCIT-1(1), BHOPAL vs. SHRI PRAKASH BHOJWANI, BHOPAL

Appeal is dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2010-11 Dy. Cit, Shri Prakash Bhojwani, 1(1), H.No. 7, Parika Phase-I, Bhopal Walmi Road, बनाम/ Chuna Bhatti, Vs. Bhopal (Revenue / Respondent) (Assessee / Appellant) Pan: Abvpb 8825 E Assessee By Shri Ashish Goyal & Shri N.D. Patwa, Ars Revenue By Shri Harshit Bari, Sr. Dr Date Of Hearing 02.11.2023 Date Of Pronouncement 02.01.2024

10 of 12 Dy. CIT,1(1), Bhopal vs. Shri Prakash Bhojwani, Bhopal Assessment year 2010-11 more detrimental to department since the transaction itself would not give rise to any taxable income. The CIT(A) has also accepted this point. Therefore, in the situation, the long-term capital gain declared by assessee must be accepted and the order passed