SMT ANUPAMA ASSWA,INDORE vs. THE PCIT-1, INDORE, INDORE

In the result, assessee’s appeal is allowed

Bench: Ms. Madhumita Roy, Judicial Memebr & Shri Bhagirath Mal Biyaniआयकर अपील सं. / I.T.A. No. 59/Ind/2022 ("नधा"रण वष" / Assessment Year : 2017-18) Smt. Anupama Asawa, Pcit-I, बनाम/ Indore Indore Vs.

Capital Gains’. We further find that the Ld. AO raised specific queries during the course of assessment proceedings itself requiring the assessee to justify the deduction claimed u/s 54B and 54F of the Act. The queries raised by the Ld. AO were duly replied to by the assessee and ample corroborative documentary evidences were also filed to substantiate the veracity

SANTOSH RATHORE,INDORE vs. PRINCIPAL COMMISSIONER OF INCOME TAX, INDORE - 1, INDORE

Appeal is allowed

capital gains from each script is to be filled in Such ITR-2 was available\nbefore the AO when he recorded the reasons before issue of notice u/s 148 of\nthe Act. It appears that Assessing Officer has recorded the reasons in\nmechanical manner without any independent application of mind and\nwithout making any enquiry nor making any other

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

163,098.67 ₹ TOTAL 4,958,545.87 It would be clear from perusal of the above tables that the Assessee has majorly withdrawn funds for the following: a. For repayment of old overdraft loans of Rs.40,62,419/-; b. For transferring to own Companies of Rs.44,42,000/-; c. For payment of interest on loan/overdraft and bank charges of Rs.8

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

163,098.67 ₹ TOTAL 4,958,545.87 It would be clear from perusal of the above tables that the Assessee has majorly withdrawn funds for the following: a. For repayment of old overdraft loans of Rs.40,62,419/-; b. For transferring to own Companies of Rs.44,42,000/-; c. For payment of interest on loan/overdraft and bank charges of Rs.8

ASSISTANT COMMISSIONER OF INCOME TAX, INDORE vs. COMMANDER INDUSTRIES PRIVATE LIMITED, INDORE

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

163 taxmann.com 40\n4.1 Ld. AR has heavily relied the impugned order of the CIT(A) and submitted that the CIT(A) has allowed the claim of depreciation on goodwill by following the various judgments by the Hon'ble Supreme Court as well as this Tribunal.\n5. We have considered the rival submissions as well as relevant material on record

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

ASSISSTANT COMMISSIONER OF INCOME TAX - 4(1), INDORE, INDORE vs. PRATAAP SNACKS LIMITED, INDORE

In the result revenue’s appeal is dismissed and assessee’s cross-objection is allowed

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

163 as under: Page 13 of 57 Prataap Snacks Limited ITA Nos.370 to 374 & C.O No.6 & 7 Page 14 of 57 Prataap Snacks Limited ITA Nos.370 to 374 & C.O No.6 & 7 10.1 There is no dispute that earlier the assessments for the Assessment Years 2012-13 and 2013-14 were completed u/s 143(3) of the Act vide order dated

ASSISSTANT COMMISSIONER OF INCOME TAX - 4(1), INDORE, INDORE vs. PRATAAP SNACKS LIMITED, INDORE

In the result revenue’s appeal is dismissed and assessee’s cross-objection is allowed

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

163 as under: Page 13 of 57 Prataap Snacks Limited ITA Nos.370 to 374 & C.O No.6 & 7 Page 14 of 57 Prataap Snacks Limited ITA Nos.370 to 374 & C.O No.6 & 7 10.1 There is no dispute that earlier the assessments for the Assessment Years 2012-13 and 2013-14 were completed u/s 143(3) of the Act vide order dated

ASSISTANT COMMISSIONER OF INCOME TAX - 4(1), INDORE, INDORE vs. PRATAAP SNACKS LIMITED, INDORE

In the result revenue’s appeal is dismissed and assessee’s cross-objection is allowed

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

163 as under: Page 13 of 57 Prataap Snacks Limited ITA Nos.370 to 374 & C.O No.6 & 7 Page 14 of 57 Prataap Snacks Limited ITA Nos.370 to 374 & C.O No.6 & 7 10.1 There is no dispute that earlier the assessments for the Assessment Years 2012-13 and 2013-14 were completed u/s 143(3) of the Act vide order dated

ASSISSTANT COMMISSIONER OF INCOME TAX - 4(1), INDORE, INDORE vs. PRATAAP SNACKS LIMITED, INDORE

In the result revenue’s appeal is dismissed and assessee’s cross-objection is allowed

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

163 as under: Page 13 of 57 Prataap Snacks Limited ITA Nos.370 to 374 & C.O No.6 & 7 Page 14 of 57 Prataap Snacks Limited ITA Nos.370 to 374 & C.O No.6 & 7 10.1 There is no dispute that earlier the assessments for the Assessment Years 2012-13 and 2013-14 were completed u/s 143(3) of the Act vide order dated

ASSISTANT COMMISSIONER OF INCOME TAX - 4(1), INDORE, INDORE vs. PRATAAP SNACKS LIMITED, INDORE

In the result revenue’s appeal is dismissed and assessee’s cross-objection is allowed

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

163 as under: Page 13 of 57 Prataap Snacks Limited ITA Nos.370 to 374 & C.O No.6 & 7 Page 14 of 57 Prataap Snacks Limited ITA Nos.370 to 374 & C.O No.6 & 7 10.1 There is no dispute that earlier the assessments for the Assessment Years 2012-13 and 2013-14 were completed u/s 143(3) of the Act vide order dated

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

163 Taxman 19 (All.), wherein it is observed that:- "CIT is entitled to see only the genuineness of objects and activities : It has been held that while refusing application under section 12A the Commissioner has to examine only two aspects, i.e., genuineness of the activities of the trust / institution and object of the trust / institution. Once there is no dispute

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

163 Taxman 19 (All.), wherein it is observed that:- "CIT is entitled to see only the genuineness of objects and activities : It has been held that while refusing application under section 12A the Commissioner has to examine only two aspects, i.e., genuineness of the activities of the trust / institution and object of the trust / institution. Once there is no dispute