M/S SHREE JAIRAM EDUCATION SOCIETY,BHOPAL vs. ACIT CENTRAL-II, BHOPAL

In the result, appeal of the assessee in ITANo

Bench: Hon’Ble Rajpal Yadav & Shri Manish Boradvirtual Hearing

120 and this section, the word" case", in relation to any person whose name is specified in any order or direction issued thereunder, means all proceedings under this Act in respect of any year which may be pending on the date of such order or direction or which may have been completed on or before such date, and includes also

M/S SHREE JAIRAM EDUCATION SOCIETY,BHOPAL vs. PR. CIT (CENTRAL), BHOPAL

In the result, appeal of the assessee in ITANo

Bench: Hon’Ble Rajpal Yadav & Shri Manish Boradvirtual Hearing

120 and this section, the word" case", in relation to any person whose name is specified in any order or direction issued thereunder, means all proceedings under this Act in respect of any year which may be pending on the date of such order or direction or which may have been completed on or before such date, and includes also

SMT. SHEELA AGRAWAL,INDORE vs. ITO-5(5), INDORE

In the result, all three appeals of two assessee are allowed

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

b. Neither the Ld. AO nor the Ld. CIT(A) have established how their unilateral concocted theory of arranging bogus long term capital gain applies to the assessee by any tangible evidence. The addition made by the Ld. AO has been sustained only on the basis of theory of human probabilities without any concrete basis or live link/involvement of assessee

ANKUR AGRAWAL,INDORE vs. ITO-5(1), INDORE

In the result, all three appeals of two assessee are allowed

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

b. Neither the Ld. AO nor the Ld. CIT(A) have established how their unilateral concocted theory of arranging bogus long term capital gain applies to the assessee by any tangible evidence. The addition made by the Ld. AO has been sustained only on the basis of theory of human probabilities without any concrete basis or live link/involvement of assessee

SMT. SHEELA AGRAWAL,INDORE vs. ITO-5(5), INDORE

In the result, all three appeals of two assessee are allowed

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

b. Neither the Ld. AO nor the Ld. CIT(A) have established how their unilateral concocted theory of arranging bogus long term capital gain applies to the assessee by any tangible evidence. The addition made by the Ld. AO has been sustained only on the basis of theory of human probabilities without any concrete basis or live link/involvement of assessee

THE DCIT, 2(1), INDORE vs. SHRI KESHAV KUMAR NACHANI, INDORE

In the result, all the appeals of the Revenue are dismissed

Bench: Smt. Madhumita Roy & Shri Bhagirath Mal Biyani

capital gain under section 10(38) of the Act can be made in the absence of any incriminating material found during the course of search. These submissions and case laws referred to by the assessee are reproduced by the ld.CIT(A) in his impugned order. The ld.CIT(A) after considering detailed submissions of the assessee and case laws cited

THE DCIT, 2(1), INDORE vs. SHRI KESHAV KUMAR NACHANI, INDORE

In the result, all the appeals of the Revenue are dismissed

Bench: Smt. Madhumita Roy & Shri Bhagirath Mal Biyani

capital gain under section 10(38) of the Act can be made in the absence of any incriminating material found during the course of search. These submissions and case laws referred to by the assessee are reproduced by the ld.CIT(A) in his impugned order. The ld.CIT(A) after considering detailed submissions of the assessee and case laws cited

JCIT(OSD),-2(1),INDORE, INDORE vs. SHRI KESHAV KUMAR NACHANI, INDORE

In the result, all the appeals of the Revenue are dismissed

Bench: Smt. Madhumita Roy & Shri Bhagirath Mal Biyani

capital gain under section 10(38) of the Act can be made in the absence of any incriminating material found during the course of search. These submissions and case laws referred to by the assessee are reproduced by the ld.CIT(A) in his impugned order. The ld.CIT(A) after considering detailed submissions of the assessee and case laws cited

DEEPAK PAREKH,USA vs. DEPUTY DIRECTOR OF INCOME TAX CPC, BENGALURU

Appeal is allowed for statistical purpose

B, 12th Floor, Cedar Block, Greenage, Bangalore, so while filing the Income Tax Return for AX 2022-23 the sale of this apartment and the capital loss arising on this sale was offered in the hands of the assessee appellant i.e. Shri Deepak Parekh. It is on this pretext that the entire TDS deducted of Rs.29,18,240/- was claimed

THE ACIT CENTRAL-1, BHOPAL vs. SMT MEENAKSHI SARAIYA, BHOPAL

In the result, appeal of the revenue and CO are dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniacit (Central)- Smt. Meenakshi Saraiya Bhopal E-13/111, Arera Colony Vs. Bhopal (Appellant / Revenue) (Respondent/ Assessee) Pan: Anrps3407K Revenue By Shri Ashish Goyal & N.D. Patwa, Ars Assessee By Shri Ila Parmar, Cit- Dr

120 of Indian Contract Act 1872. He has further submitted that this MOU gives the details of payment in future but no material was found during the search and no fact was detected even in the statements recorded during the search and seizure action as well as during the assessment proceedings that the alleged payments as mentioned

THE ACIT, CENTRAL-1, INDORE vs. M/S. MANISH AGRO TECH PVT. LTD., INDORE

In the result grounds of revenue for A

Bench: Shri Chandra Mohan Garg & Shri Bhagirath Mal Biyani

120 to 123/Kol/2018 vide its recent order dated 04.12.2020 22 had an occasion to deal with the identical case. The sole issue involved was the disallowance of loss incurred by the assessee in trading of commodities on the NMCE treating it to be bogus. In this case also survey u/s 133A was conducted on 18.12.2014 by the Investigation Wing Ahmedabad

THE ACIT, CENTRAL-1, INDORE vs. M/S. MANISH AGRO TECH PVT. LTD., INDORE

In the result grounds of revenue for A

Bench: Shri Chandra Mohan Garg & Shri Bhagirath Mal Biyani

120 to 123/Kol/2018 vide its recent order dated 04.12.2020 22 had an occasion to deal with the identical case. The sole issue involved was the disallowance of loss incurred by the assessee in trading of commodities on the NMCE treating it to be bogus. In this case also survey u/s 133A was conducted on 18.12.2014 by the Investigation Wing Ahmedabad

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

120 to CO Nos.2 to 4/Ind/2022 123/Kol/2018 vide order dated 04.12.2020 had an occasion to deal with the identical case. The sole issue involved was the disallowance of loss incurred by the assessee in trading of commodities on the NMCE treating it to be bogus. In this case also survey u/s 133 A of the Act was conducted

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

120 to CO Nos.2 to 4/Ind/2022 123/Kol/2018 vide order dated 04.12.2020 had an occasion to deal with the identical case. The sole issue involved was the disallowance of loss incurred by the assessee in trading of commodities on the NMCE treating it to be bogus. In this case also survey u/s 133 A of the Act was conducted

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

120 to CO Nos.2 to 4/Ind/2022 123/Kol/2018 vide order dated 04.12.2020 had an occasion to deal with the identical case. The sole issue involved was the disallowance of loss incurred by the assessee in trading of commodities on the NMCE treating it to be bogus. In this case also survey u/s 133 A of the Act was conducted

M/S SWADESH DEVLOPERS AND BUILDERS,BHOPAL vs. ASSISTANT COMMISSIONER OF INCOME TAX (CENTRAL)-2, BHOPAL

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

Capital Gain at Rs. 1,82,94,410/- but the ld. AO was of the view that the assessee being engaged in the real estate business, such income from sale of land needs to be taxed as business income and accordingly treated the income of the assessee as business income and calculated tax accordingly. Income of the assessee

AMIT ASHOK AGRAWAL,INDORE vs. ITO-2(2), INDORE

In the result, the quantum appeal of assessee is partly allowed for statistical purposes and penalty appeal of assesse is allowed

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

4. On the other hand, Ld. DR has submitted that the assesse has not filed return of income and also not maintain books of account therefore, the explanation of the assesse cannot be verified from the record so far as the business income of the assessee as well as the utilization of the funds withdrawn from the banks

AMIT ASHOK AGRAWAL,INDORE vs. ITO-2(2), INDORE

In the result, the quantum appeal of assessee is partly allowed for statistical purposes and penalty appeal of assesse is allowed

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

4. On the other hand, Ld. DR has submitted that the assesse has not filed return of income and also not maintain books of account therefore, the explanation of the assesse cannot be verified from the record so far as the business income of the assessee as well as the utilization of the funds withdrawn from the banks