THE DCIT,, RATLAM vs. SHRI ANIL JHALANI, RATLAM

In the result, the appeal of the revenue as well as the cross

Bench: Shri C.M. Garg & Shri O.P. Meena

gain was on the basis of transfer as understood in s. 45(2) – Having regard to the impossibility of performance to invest the amount in specified assets within six months from the date of transfer i.e. the date of conversion of 7 DCIT vs. Anil Jhalani ITA No.246/Ind/2015 & CO36/Ind/2015 capital asset into stock in trade, the period of six months

SMT. MAMTA SINGH,INDORE vs. ASSISTANT COMMISSIONER OF INCOME TAX- 3(1), INDORE

In the result appeal of the assessee is partly allowed for

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradassessment Year 2013-14 Smt. Mamta Singh Vs Acit-3(1) Ef-14, Scheme No.54, Indore Vijay Nagar, Indore

2) The Learned CIT(A) has erred in law in confirming the addition of Rs 70,14,902/- made by AO in respect of sale of lands at county walk (village Jhalaria) effected by appellant through M/s Aarone Developers Pvt. Ltd , by treating the Capital Gains offered by appellant as income from Business . He failed to see that since

M/S PARTH DEVELOPERS,DHAR vs. THE PCIT -1, INDORER

In the result, appeal of assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S. Parth Developers Pr. Cit-1 Manawar Dist. Indore Vs. Dhar (Appellant / Assessee) (Respondent/ Revenue) Pan: Aalfp 4509 N Assessee By Shri Milind Wadhwani, Ar Revenue By Shri P.K. Mishra, Cit-Dr Date Of Hearing 22.06.2023 Date Of Pronouncement 28.07.2023

2) For the purposes of percentage of completion method, project completion method or straight line method referred to in sub-section (1):- (i)the contract revenue shall include retention money; (ii) the contract costs shall not be reduced by any incidental income in the nature of interest, dividends or capital gains". 43. From the perusal of above section

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

2. Shyam Sunder Bajaj vs. ITO 145 taxmann.com 315 (Kolkata-Trib) 3. Suman Poddar vs. ITO 112 taxmann.com 330 (SC) 4. Sandeep Bhargava vs. ACIT 109 taxmann.com 174 (Delhi –Trib) 5.Pooja Ajmani vs. ITO 177 ITD 127 (Delhi –Trib) 8. He has submitted that in the above decisions when the investment was made in the Penny stock companies and 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

2. Shyam Sunder Bajaj vs. ITO 145 taxmann.com 315 (Kolkata-Trib) 3. Suman Poddar vs. ITO 112 taxmann.com 330 (SC) 4. Sandeep Bhargava vs. ACIT 109 taxmann.com 174 (Delhi –Trib) 5.Pooja Ajmani vs. ITO 177 ITD 127 (Delhi –Trib) 8. He has submitted that in the above decisions when the investment was made in the Penny stock companies and 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

2. Shyam Sunder Bajaj vs. ITO 145 taxmann.com 315 (Kolkata-Trib) 3. Suman Poddar vs. ITO 112 taxmann.com 330 (SC) 4. Sandeep Bhargava vs. ACIT 109 taxmann.com 174 (Delhi –Trib) 5.Pooja Ajmani vs. ITO 177 ITD 127 (Delhi –Trib) 8. He has submitted that in the above decisions when the investment was made in the Penny stock companies and assessee

THE DY. CIT 4(1), INDORE vs. M/S. RYDER TRANS INTERNATIONAL (P) LTD., INDORE

In the result appeal of the Revenue is partly allowed

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2012-13

145 Breverages (ITA 24 indicated herein above, we are also of 2012) (M.P. satisfied that for attracting the High Court) deeming provisions as contained u/s 2(22)(e), both the situations contemplated therein should be fulfilled. If one of the condition is not fulfilled. The provisions cannot be attracted. In this case, one of the condition is not fulfilled

THE ACIT-2(1), UJJAIN vs. SHRI SANJAY BAGDI, UJJAIN

In the result appeal of the revenue is allowed for statistical

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year 2012-13 Assistant Commissioner Of Shri Sanjay Bagdi, Income Tax – 2(1), Vs. 173 Alakhdham Nagar, Ujjain Ujjain (Appellant) (Respondent ) Pan No.Ahcpb6349L Revenue By Shri K.G. Goyal, Sr.Dr Assessee By S/Shri S.S. Deshpande & Bhavesh Netkar,Cas Date Of Hearing 01.11.2018 Date Of Pronouncement 14.11.2018 O R D E R

gains of business or profession" or "Income from other sources" shall, subject to the provisions of sub-section (2), be computed in accordance with either cash or mercantile system of accounting regularly employed by the assessee. (2) The Central Government may notify in the Official Gazette from time to time income computation and disclosure standards to be followed

M/S. S.R. FERRO ALLOYS,JHABUA vs. THE PCIT, BHOPAL

In the result, the appeal of assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanis.R. Ferro Alloys Pr. Cit, Central 9, Siddheswar Colony Bhopal Vs. Jhabua (Appellant / Assessee) (Revenue) Pan: Abhfs7377Q Appellant By Shri Sumit Nema, Sr. Adv. & Gagan Tiwari, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 12.10.2023 Date Of Pronouncement 09.11.2023

gains of the business. For these reasons, we are of the view that no substantial question of law arises. We, therefore, decline to admit question Nos. 2 and 3." 41. From perusal of all the judgments it has been consistently held rather a settled law that the action of revenue authorities cannot be held justified if they substitute another method

OMPRAKASH JAISWAL,INDORE vs. ACIT-1(1), INDORE

Appeal is partly allowed for statistical purpose

gains of\nbusiness or profession\" or \"Income from other sources\" shall, subject to\nthe provisions of sub-section (2), be computed in accordance with either\ncash or mercantile system of accounting regularly employed by the\nassessee.\n(2) The Central Government may notify in the Official Gazette from\ntime to time income computation and disclosure standards to be\nfollowed

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

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

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

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, (EXEMPTION) CIRCLE, BHOPAL vs. M/S. MAYANK WELFARE SOCIETY, BHOPAL

In the result, Revenue’s appeal for the AY 2013-14

Bench: Shri Manish Borad & Ms. Madhumita Royvirtual Hearing Assessment Year: 2013-14

145(2) – Mineral Concessions Rules, 1960, r.27(i),(j) – Coal mines regulations, 1957, reglns. 4,5.” That the learned Assessing Officer further erred in stating that because the letters were typed and later the names etc. were mentioned, without understanding that the donation were being received towards construction of new buildings and therefore there were computerized too. We rely

ASSISTANT COMMISSIONER OF INCOME TAX (EXEMPTION) CIRCLE BHOPAL, BHOPAL vs. MAYANK WELFARE SOCIETY, INDORE

In the result, Revenue’s appeal for the AY 2013-14

Bench: Shri Manish Borad & Ms. Madhumita Royvirtual Hearing Assessment Year: 2013-14

145(2) – Mineral Concessions Rules, 1960, r.27(i),(j) – Coal mines regulations, 1957, reglns. 4,5.” That the learned Assessing Officer further erred in stating that because the letters were typed and later the names etc. were mentioned, without understanding that the donation were being received towards construction of new buildings and therefore there were computerized too. We rely

HITESH KUMAR BINDAL,INDORE vs. THE DCIT CIRCLE 1(1), INDORE

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

section 143(3) wherein the AO treated the shares of KCLIPL as what is called “penny stock” and capital gain declared by assessee therefrom as managed or non-genuine. Accordingly, the AO made addition u/s 68 amounting to Rs. 9,21,930/- and Rs. 19,42,723/- (equivalent to the full value of sale consideration received by assessee

HITESH KUMAR BINDAL,INDORE vs. THE DCIT CIRCLE 1(1), INDORE

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

section 143(3) wherein the AO treated the shares of KCLIPL as what is called “penny stock” and capital gain declared by assessee therefrom as managed or non-genuine. Accordingly, the AO made addition u/s 68 amounting to Rs. 9,21,930/- and Rs. 19,42,723/- (equivalent to the full value of sale consideration received by assessee

DCIT 1(1), INDORE vs. M/S MAA UMIYA AGRITECH PVT. LTD. , INDORE

In the result, appeal of Revenue is dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanidcit 1(1) M/S. Maa Umiya Agritech Pvt. Ltd. Indore 119, A.B. Road, Aloo Pyaj Mandi, Vs. Indore (Appellant / (Revenue) (Assessee) Pan: Aabcn8230F Revenue By Shri P.K. Mishra, Cit-Dr Respondent By Shri S.S. Solanki, Ar Date Of Hearing 11.04.2023 Date Of Pronouncement 08.06.2023

2) and 142(1) he has no option but to invoke the provision of section 144 of the Act. Ld. AO further recorded that on perusal of the Income Tax Return and audit report furnished by the auditor of the assessee it was noted that gross receipt of the assessee Page 7 of 21 Maa Umiya Agritech P. ltd. Page