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

Appeal is allowed

capital gain of Rs.32.79,066/- declared by the\nassessee and claimed exempt u/s 10(38) of the Act is bogus, therefore, there\nis live nexus between the information available and the satisfaction recorded\nand, accordingly, Ld. CIT-DR submit that the case of the assessee was\nrightly reopened and prayed accordingly.\nPage 19 of 49\nSantosh Rathore\nITA No. 451/Ind/2024

ATUL KUMAR ANCHALIA,JAORA vs. PCIT-1 , INDORE

In the result, the appeal filed by the Assessee is hereby dismissed

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri B.M. Biyani (Accountant Member)

Section 263(1) of the Act namely (a) the order is passed without making inquiries or verification which should have been made; (b) the order is passed allowing and relief without inquiring into the claim. 2.5. The Ld. PCIT relying upon various case laws and held that the assessment order passed by the Assessing Officer as an erroneous 5 I.TA

M/S. IDEA CELLULAR LIMITED,INDORE vs. THE DCIT (TDS), INDORE

Appeals are allowed

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

Capital gains") for— (i) the transfer of all or any rights (including the granting of a licence) in respect of a patent, invention, model, design, secret formula or process or trade mark or similar property ; (ii) the imparting of any information concerning the working of, or the use of, a patent, invention, model, design, secret formula or process or trade

M/S. IDEA CELLULAR LIMITED,INDORE vs. THE DCIT (TDS), INDORE

Appeals are allowed

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

Capital gains") for— (i) the transfer of all or any rights (including the granting of a licence) in respect of a patent, invention, model, design, secret formula or process or trade mark or similar property ; (ii) the imparting of any information concerning the working of, or the use of, a patent, invention, model, design, secret formula or process or trade

M/S. IDEA CELLULAR LIMITED,INDORE vs. THE DCIT (TDS), INDORE

Appeals are allowed

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

Capital gains") for— (i) the transfer of all or any rights (including the granting of a licence) in respect of a patent, invention, model, design, secret formula or process or trade mark or similar property ; (ii) the imparting of any information concerning the working of, or the use of, a patent, invention, model, design, secret formula or process or trade

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

capital gains". 43. From the perusal of above section it is crystal clear that before the insertion of this section there was no legal obligation on the part of the assessee to follow percentage completion method only. Before insertion of this section person engaged in construction and service contracts were free to follow either the project completion/Completed project method

M/S. IDEA CELLULAR LIMITED,INDORE vs. THE CIT (TDS), BHOPAL

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S Vodafone Idea Ltd. Cit (Tds), बनाम/ (Formerly M/S Idea Bhopal Vs. Cellular Ltd.), 139-140, Electronics Complex, Pardeshipura, Indore (Assessee/Appellant) (Revenue/Respondent) M/S Vodafone Idea Ltd. Dcit/Jcit (Tds), बनाम/ (Formerly M/S Idea Indore Vs. Cellular Ltd.), 139-140, Electronics Complex, Pardeshipura, Indore (Assessee/Appellant) (Revenue/Respondent)

Capital gains") for— (i) the transfer of all or any rights (including the granting of a licence) in respect of a patent, invention, model, design, secret formula or process or trade mark or similar property ; (ii) the imparting of any information concerning the working of, or the use of, a patent, invention, model, design, secret formula or process or trade

IDEA CELLULAR LIMITED,INDORE vs. DCIT TDS, INDORE

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S Vodafone Idea Ltd. Cit (Tds), बनाम/ (Formerly M/S Idea Bhopal Vs. Cellular Ltd.), 139-140, Electronics Complex, Pardeshipura, Indore (Assessee/Appellant) (Revenue/Respondent) M/S Vodafone Idea Ltd. Dcit/Jcit (Tds), बनाम/ (Formerly M/S Idea Indore Vs. Cellular Ltd.), 139-140, Electronics Complex, Pardeshipura, Indore (Assessee/Appellant) (Revenue/Respondent)

Capital gains") for— (i) the transfer of all or any rights (including the granting of a licence) in respect of a patent, invention, model, design, secret formula or process or trade mark or similar property ; (ii) the imparting of any information concerning the working of, or the use of, a patent, invention, model, design, secret formula or process or trade

GLOBUS HOUSING,BHOPAL vs. ASSESSMENT UNIT, NFAC, DELHI

The appeal of the assessee is allowed and the “impugned

Bench: Shri Bhagirath Mal Biyani & Shri Paresh M Joshi

capital gain of Rs.1,23,10,312/- has been shown. This gain has been neutralized by the b/f losses and no taxes paid has been paid. Assessee has submitted ledgers and details on 19.03.2022. The assessee has failed to substantiate the genuineness of alleged share transactions in respect of STCG. In view of above discussions, the landmark decision

M/S SUPREMO INDIA LTD ,INDORE vs. THE AIT CENTRAL 3, INDORE

In the result, appeal of assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S. Supremo India Pvt. Ltd. Acit Central-3 400/2, Halka Patwari No.52 Indore Vs. Badiakeema Dudhiya, B.O. Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Aafcs 9822 C Assessee By Shri S.S. Solanki, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 01.05.2023 Date Of Pronouncement 07.06.2023

capital account and without showing the same as additional income. Therefore, the additional income offered was not shown in profit and loss account. Thus, the AO was justified in making addition on account of undisclosed income declared in statement recorded on oath u/s 132(4) during search. Also, the appellant has accepted the addition made by the AO amounting

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 on sale of land as business income are not supported by any incriminating material found during the course of search and therefore, assessee succeeds on this legal ground and 16 Swadesh Developers the addition made for A.Y. 2008-09 to A.Y. 2012-13 are deleted and deduction u/s 80IB(10) of the Act claimed by 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

194,465.80 ₹ Trading of Shares payment 100,000.00 ₹ Cash-in-Hand withdrawn (Citibank) 1,033,000.00 ₹ Credit Card Bills Paid 266,820.40 ₹ LIC Paid (For Self & Family Members) 739,161.00 ₹ College Fees of Sister 75,000.00 ₹ Mutual Funds Subscribed 345,000.00 ₹ Misc Expenses 163,098.67 ₹ TOTAL 4,958,545.87 It would be clear from perusal of the above tables that

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

194,465.80 ₹ Trading of Shares payment 100,000.00 ₹ Cash-in-Hand withdrawn (Citibank) 1,033,000.00 ₹ Credit Card Bills Paid 266,820.40 ₹ LIC Paid (For Self & Family Members) 739,161.00 ₹ College Fees of Sister 75,000.00 ₹ Mutual Funds Subscribed 345,000.00 ₹ Misc Expenses 163,098.67 ₹ TOTAL 4,958,545.87 It would be clear from perusal of the above tables that

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

194 taxman 477 (Kerala)\n(vii)Desney Broadcasting (India) (P.) Ltd. vs. Principal Commissioner of Income Tax 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

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

capital was sufficient to advance the said amount. The Pr. CIT dropped the first issue of disallowance of interest on account of interest free advance after considering the reply of the assessee and then proceeded to pass the impugned order only on the second issue regarding the non-examination and verification of the identity, creditworthiness of the creditor and genuineness

M/S NIKHIL ESTATE P LTD,INDORE vs. THE ACIT CENTRAL CIRCLE (3) INDORE, INDORE

In the result, appeal of assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S. Nikhil Estate Pvt. Ltd. Acit (Central)-3 M-102, Mezzanine, Floor, Indore Dhan Trident, P. No.B-3 Pu- Vs. 4, Sch. No.54, Vijay Nagar Square, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Aabcn 8056 D Assessee By Shri S.S. Solanki, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 01.05.2023 Date Of Pronouncement 09.06.2023

capital account and without showing the same as additional income. Therefore, the additional income offered was not shown in profit and loss account. Thus, the AO was justified in making addition on account of undisclosed income declared in statement recorded on oath u/s 132(4) during search. Also, the appellant has accepted the addition made by the AO amounting