SMT SHILPA DESAI ,INDORE vs. THE PR CIT -1, INDORE

In the result, the assessee’s appeal i

Bench: Shri Mahavir Prasad & Shri Manish Borad(Virtual Hearing) Assessment Year: 2015-16 Smt. Shilpa Desai, Indore Pan – Abzpd 4926 A … Appellant Vs. Pcit-I, Indore … Respondent

164/- in her Income Tax return against which she claimed deduction u/s 54F and 54EC totaling to Rs. 3,82,58,792/- and after claiming said deduction she offered balance Amount of Capital Gain of Rs. 3,57,50,372/- as her Income under the head Income from Capital Gain and duly paid tax thereon. The case of the assessee

SHRI VINOD CHOUDHARY,INDORE vs. ITO1 3), INDORE

The appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanishri Vinod Choudhary, Ito 1(3) 12, Niranjanpur, Indore Vs. Lasudia, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Akrpv 4892 Q Assessee By Shri Pankaj Shah & Soumya Bomb, Ars Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 27.02.2023 Date Of Pronouncement 28.02.2023

Capital Gain and without denying the exemption claimed under Section 54B & 54F. The Ld. A.R. relied upon the decision of Hon’ble Supreme Court in case of Mahaveer Kumar Jain vs. CIT (Civil Appeal No. 4166 of 2006 order dated 19.04.2018). The Ld. A.R. further submitted that the Assessing Officer wrongly interpreted the judgment of Hon’ble Apex Court

SHRI HUKUMCHAND CHOUDHARY ,INDORE vs. ITO (3),INDORE, INDORE

The appeal of the assessee is allowed

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

Capital Gain and without denying the exemption claimed under Section 54B & 54F. The Ld. A.R. relied upon the decision of Hon’ble Supreme Court in case of Mahaveer Kumar Jain vs. CIT (Civil Appeal No. 4166 of 2006 order dated 19.04.2018). The Ld. A.R. further submitted that the Assessing Officer wrongly interpreted the judgment of Hon’ble Apex Court

M/S. AVINASH CHALANA & CO.,BHOPAL vs. PCIT-1, BHOPAL, BHOPAL

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S. Avinash Chalana & Pr. Cit Company Bhopal G-2/119-A, Milestone 100 Complex, Trilanga Roa, Vs. Gulmohar Colony Bhopal (Appellant / Assessee) (Respondent/ Revenue) Pan: Aalfa7929P Assessee By Shri Sumit Nema Sr. Adv. & Gagan Tiwari, Adv. Revenue By Shri Ram Kumar Yadav, Cit-Dr Date Of Hearing 16.05.2024 Date Of Pronouncement 25.07.2024

section 143(3A) & 143(3B) of the Act. He has then referred to the show cause notice issued by the Pr. CIT u/s 263 on 03.02.2023 placed at page no.76 & 77 of the paper book and submitted in para 2 of the show cause notice the Pr. CIT has raised this issue of capital introduced by the partners whereas

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

164 Taxman 169 (Ahd.) 3 PB 119- CIT vs Ankitech P Whether legal fiction created u/s 139 Ltd 11 taxmann 2(22)(e) enlarges definition of 100 (Del.) dividend only, legal fiction is not to be extended further for broadening concept of shareholders – Held, yes. Whether any company is supposed to distribute profits in form of dividend to its shareholders

THE ACIT, 5(1), INDORE vs. M/S. SYMBIOTIC PHARMALAB LTD., INDORE

In the result, the appeal of the Revenue stands dismissed

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2009-10 Acit 5(1), M/S. Symbiotic Indore बनाम/ Pharmalab Ltd. 385, Vs. Pigdamber, Rau, Indore (Revenue) (Respondent) Pan: Aagcs9311 Revenue By Shri Ashima Gupta, Cit- Dr Respondent By Shri Ajay Tulsiyan & Kapil Shah, Cas Date Of Hearing: 29.11.2018 Date Of Pronouncement: 10.12.2018 आदेश / O R D E R Per Manish Borad, A.M: This Appeal Of Revenue Pertaining To A.Y. 2009-10 Is Directed Against The Order Of Ld. Commissioner Of Income Tax(Appeals)-Ii, Indore, (In Short ‘Cit(A)’), Dated 31.12.2015 Which Is Arising Out Of The Order U/S 143(3) Of The Income Tax Act 1961(Hereinafter Called As The ‘Act’) Framed On M/S. Symboitic Pharmalab Ltd. Itano.373/Ind/2016 05.12.2011 By Acit, 5(1) Indore. The Revenue Has Raised Following Grounds Of Appeal: “1. Whether The Ld. Cit(A) Has Erred In Law & On Facts In Restricting The Addition Of Rs. 2,60,50,027/- To Rs.3,74,195/- & Addition Made By The Ao 'After Disallowing U/S 35(2Ab) Deleted To The Extent Of Rs. 2,56,75,832/- On Account Of R&D Expenditure Without Appreciating The Fact That The Assessing Officer Had Pointed Out That Disr Has Not Issue Report In Form 3Cl To Dgit Exemption & Even When No Satisfactory Clarification Was Given By The Assessee To The Ao.” “2.Whether The Ld. Cit(A) Has Erred In Law & On Facts In Deleting The Disallowance Of Rs. 9,97,920/- Made By The Ao On Account Of Foreign Exchange Loss Without Appreciating The Fact That The Assessing Officer Had Pointed Out That The Loss Claimed By The Assessee In The Year Of Fluctuation In The Rate Of Exchange Or The Same Is Allowable Only In The Year' Of Repayment Of Such Loans.”

capital as well as revenue expenditure incurred on R&D for A.Y. 2008-09 and A.Y. 2009-10. 4.10 I have gone through the assessment order, the queries raised and details called for during the course of appellate proceedings and the detailed and comprehensive submissions filed by the appellant in defense of the deduction claimed

DEPUTY COMMISSIONER OF INCOME TAX(EXEMPTION), BHOPAL, BHOPAL vs. INDORE DEVELOPMENT AUTHORITY, INDORE

Appeals are allowed and revenue’s appeals

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

gains of business and profession. In the given facts, it would be incongruous for the Revenue to urge that the purpose and goal behind the activities undertaken by the respondent-assessee was not commercial but charity as the intent and motive behind them was not to earn profit. The expenditure incurred to carry out social and economic development would

INDORE DEVELOPMENT AUTHORITY ,INDORE vs. DCIT (EXEMPTION CIRCLE), BHOPAL

Appeals are allowed and revenue’s appeals

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

gains of business and profession. In the given facts, it would be incongruous for the Revenue to urge that the purpose and goal behind the activities undertaken by the respondent-assessee was not commercial but charity as the intent and motive behind them was not to earn profit. The expenditure incurred to carry out social and economic development would

INDORE DEVELOPMENT AUTHORITY ,INDORE vs. DCIT ( EXEMPTION CIRCLE) , BHOPAL

Appeals are allowed and revenue’s appeals

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

gains of business and profession. In the given facts, it would be incongruous for the Revenue to urge that the purpose and goal behind the activities undertaken by the respondent-assessee was not commercial but charity as the intent and motive behind them was not to earn profit. The expenditure incurred to carry out social and economic development would

DEPUTY COMMISSIONER OF INCOME TAX(EXEMPTION), BHOPAL, BHOPAL vs. INDORE DEVELOPMENT AUTHORITY, INDORE

Appeals are allowed and revenue’s appeals

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

gains of business and profession. In the given facts, it would be incongruous for the Revenue to urge that the purpose and goal behind the activities undertaken by the respondent-assessee was not commercial but charity as the intent and motive behind them was not to earn profit. The expenditure incurred to carry out social and economic development would

INDORE DEVELOPMENT AUTHORITY ,INDORE vs. DCIT (EXEMPTION CIRCLE), BHOPAL

Appeals are allowed and revenue’s appeals

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

gains of business and profession. In the given facts, it would be incongruous for the Revenue to urge that the purpose and goal behind the activities undertaken by the respondent-assessee was not commercial but charity as the intent and motive behind them was not to earn profit. The expenditure incurred to carry out social and economic development would

INDORE DEVELOPMENT AUTHORITY,INDORE vs. DCIT (EXEMPTION CIRCLE), BHOPAL

Appeals are allowed and revenue’s appeals

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

gains of business and profession. In the given facts, it would be incongruous for the Revenue to urge that the purpose and goal behind the activities undertaken by the respondent-assessee was not commercial but charity as the intent and motive behind them was not to earn profit. The expenditure incurred to carry out social and economic development would

DEPUTY COMMISSIONER OF INCOME TAX(EXEMPTION), BHOPAL, BHOPAL, MADHYA PRADESH vs. INDORE DEVELOPMENT AUTHORITY, INDORE

Appeals are allowed and revenue’s appeals

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

gains of business and profession. In the given facts, it would be incongruous for the Revenue to urge that the purpose and goal behind the activities undertaken by the respondent-assessee was not commercial but charity as the intent and motive behind them was not to earn profit. The expenditure incurred to carry out social and economic development would

DEPUTY COMMISSIONER OF INCOME TAX(EXEMPTION), BHOPAL, BHOPAL vs. INDORE DEVELOPMENT AUTHORITY, INDORE

Appeals are allowed and revenue’s appeals

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

gains of business and profession. In the given facts, it would be incongruous for the Revenue to urge that the purpose and goal behind the activities undertaken by the respondent-assessee was not commercial but charity as the intent and motive behind them was not to earn profit. The expenditure incurred to carry out social and economic development would

DEPUTY COMMISSIONER OF INCOME TAX, EXEMPTION, BHOPAL, BHOPAL vs. INDORE DEVELOPMENT AUTHORITY, INDORE, INDORE

Appeals are allowed and revenue’s appeals

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

gains of business and profession. In the given facts, it would be incongruous for the Revenue to urge that the purpose and goal behind the activities undertaken by the respondent-assessee was not commercial but charity as the intent and motive behind them was not to earn profit. The expenditure incurred to carry out social and economic development would

M/S MADHYA PRADESH AUDYOGIK KENDRA VIKAS NIGAM (INDORE) LTD.,INDORE vs. THE ACIT3(1), INDORE

In the result, the appeals filed by the assessee company –

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 347 To 351/Ind/2013, 760 & 761/Ind/2014 "नधा"रण वष" // A.Ys.: 2003-04, 2004-05, 2006-07 To 2008-09, 2009-10 & 2010-11 Madhya Pradesh Audyogik Vs. Assistant Commissioner Of Kendra Vikas Nigam Income-Tax, (Indore) Limited, 3(1), Indore. Indore. अपीलाथ" /Appellant ""यथ" /Respondent "था.ले.सं./Pan: Aadcm7525Q

capital or revenue are on behalf of the State Government and therefore the amount as received by the assessee company for and on behalf of the State Government not liable to taxed as income of the assessee but belonging to the State Government. For this preposition we rely on the following direct decisions:- 1 City and Industrial Development Appeal

M/S. SEZ INDORE LIMITED,INDORE vs. THE CIT-I, INDORE

In the result, the appeals filed by the assessee company –

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 347 To 351/Ind/2013, 760 & 761/Ind/2014 "नधा"रण वष" // A.Ys.: 2003-04, 2004-05, 2006-07 To 2008-09, 2009-10 & 2010-11 Madhya Pradesh Audyogik Vs. Assistant Commissioner Of Kendra Vikas Nigam Income-Tax, (Indore) Limited, 3(1), Indore. Indore. अपीलाथ" /Appellant ""यथ" /Respondent "था.ले.सं./Pan: Aadcm7525Q

capital or revenue are on behalf of the State Government and therefore the amount as received by the assessee company for and on behalf of the State Government not liable to taxed as income of the assessee but belonging to the State Government. For this preposition we rely on the following direct decisions:- 1 City and Industrial Development Appeal

M/S. M.P. AUDHYOGIK KENDRA VIKAS NIGAM,INDORE vs. THE DCIT 3(1), INDORE

In the result, the appeals filed by the assessee company –

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 347 To 351/Ind/2013, 760 & 761/Ind/2014 "नधा"रण वष" // A.Ys.: 2003-04, 2004-05, 2006-07 To 2008-09, 2009-10 & 2010-11 Madhya Pradesh Audyogik Vs. Assistant Commissioner Of Kendra Vikas Nigam Income-Tax, (Indore) Limited, 3(1), Indore. Indore. अपीलाथ" /Appellant ""यथ" /Respondent "था.ले.सं./Pan: Aadcm7525Q

capital or revenue are on behalf of the State Government and therefore the amount as received by the assessee company for and on behalf of the State Government not liable to taxed as income of the assessee but belonging to the State Government. For this preposition we rely on the following direct decisions:- 1 City and Industrial Development Appeal

M/S. SEZ INDORE LIMTED,INDORE vs. THE DCIT CIRCLE -3(1), INDORE

In the result, the appeals filed by the assessee company –

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 347 To 351/Ind/2013, 760 & 761/Ind/2014 "नधा"रण वष" // A.Ys.: 2003-04, 2004-05, 2006-07 To 2008-09, 2009-10 & 2010-11 Madhya Pradesh Audyogik Vs. Assistant Commissioner Of Kendra Vikas Nigam Income-Tax, (Indore) Limited, 3(1), Indore. Indore. अपीलाथ" /Appellant ""यथ" /Respondent "था.ले.सं./Pan: Aadcm7525Q

capital or revenue are on behalf of the State Government and therefore the amount as received by the assessee company for and on behalf of the State Government not liable to taxed as income of the assessee but belonging to the State Government. For this preposition we rely on the following direct decisions:- 1 City and Industrial Development Appeal