JAI PRAKASH NARAYAN SHARMA,INDORE vs. ASSISTANT COMMISSIONER OF INCOME TAX-2(1), INDORE

Appeal is allowed for statistical purpose

Capital Gain\n1,14,233\n90,77,095\n3.\nThus, there are two variations made by AO. Firstly, the assessee\ndeclared sale consideration at Rs.1,37,00,000/- equivalent to actual\namount received from buyer as against which the AO adopted sale\nconsideration at Rs.2,02,00,000/- equivalent to the valuation done by\nstamps authority, in terms of section

THE DCIT1(1), INDORE vs. SHRI RAVI ARORA, INDORE

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year:2011-12 Dcit-5(1), Shri Ravi Arora, Indore 1007, Khatiwala Tank, बनाम/ 236, Indraprasth Tower, 6, M.G. Road, Vs. Indore. (Revenue / Appellant) (Assessee / Respondent) Pan: Agdpa8921H Assessee By Shri Yash Kukreja, Ca & Shri Hitesh Chimnani, Adv & Ld. Ars Revenue By Shri P.K.Mishra, Cit Dr Date Of Hearing 04.05.2023 Date Of Pronouncement 31.07.2023

Capital Gain and hence giving relief of Rs. 44,81,373/- without considering the fact that the company m/s. Eden Financial Services, from whom the shares were purchased off line and the registration of company i.e. No. INB 230660520 was cancelled by SEBI. (4) Whether on the facts and in the circumstances of the case

DILIP CHANDRASENRO MAHADIK,INDORE vs. THE PR CIT -2 INDORE, INDORE

Appeal is dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2015-16 Shri Dilip Chandrasenrao Pr.Cit-2, Mahadik, Indore. बनाम/ 479, Kalani Nagar, Vs. Indore (Assessee / Appellant) (Revenue / Respondent) Pan: Abwpm3141M Assessee By S/Shri Rajnish Vohra, Chetan Khandelwal & Nitesh Dawira, Ld. Ars Revenue By Shri P.K. Mishra, Cit Dr Date Of Hearing 24.05.2023 Date Of Pronouncement 17.08.2023

Capital Gain thereupon. The AO did not examine the apparent mismatch between the sale consideration of the property shown in the ITR and Sale consideration as per Stamp Valuation Authority which was clearly mentioned in the sale deed itself. The AO has, therefore, committed an error while completing the assessment.” [Emphasis added] 6. Then, Ld. PCIT also invoked Explanation

MANISH GOVIND AGRAWAL HUF,INDORE vs. I T O 2(1), INDORE

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

Gains and bogus Short Term Capital Loss/ bogus business loss through trading of shares of penny stocks ……………” From the above, following is made out – a. Ld. AO has made a very general and vague reference to conduct of search by the Department by using the term ‘various’ for all the stakeholders involved in the stock market operations / transactions

SAPAN SHAH,INDORE vs. ACIT-4(I), INDORE

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

Gains and bogus Short Term Capital Loss/ bogus business loss through trading of shares of penny stocks ……………” From the above, following is made out – a. Ld. AO has made a very general and vague reference to conduct of search by the Department by using the term ‘various’ for all the stakeholders involved in the stock market operations / transactions

SHIV NARAYAN SHARMA,INDORE vs. ACIT CIRCLE 3(1), INDORE

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

Gains and bogus Short Term Capital Loss/ bogus business loss through trading of shares of penny stocks ……………” From the above, following is made out – a. Ld. AO has made a very general and vague reference to conduct of search by the Department by using the term ‘various’ for all the stakeholders involved in the stock market operations / transactions

GOVIND HARINARAYAN AGRAWAL HUF,INDORE vs. I T O 2(1), INDORE

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

Gains and bogus Short Term Capital Loss/ bogus business loss through trading of shares of penny stocks ……………” From the above, following is made out – a. Ld. AO has made a very general and vague reference to conduct of search by the Department by using the term ‘various’ for all the stakeholders involved in the stock market operations / transactions

DARSHAN KUMAR PAHWA,INDORE vs. DCIT CIRCLE5(1), INDORE

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

Gains and bogus Short Term Capital Loss/ bogus business loss through trading of shares of penny stocks ……………” From the above, following is made out – a. Ld. AO has made a very general and vague reference to conduct of search by the Department by using the term ‘various’ for all the stakeholders involved in the stock market operations / transactions

PRAYANK JAIN,INDORE vs. ACIT5(1), INDORE

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

Gains and bogus Short Term Capital Loss/ bogus business loss through trading of shares of penny stocks ……………” From the above, following is made out – a. Ld. AO has made a very general and vague reference to conduct of search by the Department by using the term ‘various’ for all the stakeholders involved in the stock market operations / transactions

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

37 ITR 271 wherein it has been held that suspicion which cannot take the place of proof in these matters. 7. On the other hand, Ld. DR has submitted that the shares of M/s Surabhi Chemicals & Investments Ltd. were purchased by the assessee in physical form. In various investigation carried out by the department it was found that the shares

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

37 ITR 271 wherein it has been held that suspicion which cannot take the place of proof in these matters. 7. On the other hand, Ld. DR has submitted that the shares of M/s Surabhi Chemicals & Investments Ltd. were purchased by the assessee in physical form. In various investigation carried out by the department it was found that the shares

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

37 ITR 271 wherein it has been held that suspicion which cannot take the place of proof in these matters. 7. On the other hand, Ld. DR has submitted that the shares of M/s Surabhi Chemicals & Investments Ltd. were purchased by the assessee in physical form. In various investigation carried out by the department it was found that the shares

MANISH CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

Section 148 was issued and the proceeding was carried by the Ld. AO. Upon verification of computation of income it was found that the assessee had shown exempt long term capital gain on purchase/sale of shares at Rs. 74,88,105/-. The assessee in total purchased 2,00,000 quantity of scrip of M/s. Splash Media Works Ltd. from

ASHISH CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

Section 148 was issued and the proceeding was carried by the Ld. AO. Upon verification of computation of income it was found that the assessee had shown exempt long term capital gain on purchase/sale of shares at Rs. 74,88,105/-. The assessee in total purchased 2,00,000 quantity of scrip of M/s. Splash Media Works Ltd. from

MANISH CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

Section 148 was issued and the proceeding was carried by the Ld. AO. Upon verification of computation of income it was found that the assessee had shown exempt long term capital gain on purchase/sale of shares at Rs. 74,88,105/-. The assessee in total purchased 2,00,000 quantity of scrip of M/s. Splash Media Works Ltd. from

PAWAN KUMAR CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

Section 148 was issued and the proceeding was carried by the Ld. AO. Upon verification of computation of income it was found that the assessee had shown exempt long term capital gain on purchase/sale of shares at Rs. 74,88,105/-. The assessee in total purchased 2,00,000 quantity of scrip of M/s. Splash Media Works Ltd. from

THE ACIT, CENTRAL-2, INDORE vs. M/S. CHUGH REALTY, INDORE

In the result, the appeals of the Revenue for the A

Bench: Shri Rajpal Yadav Hon'Ble & Shri Manish Borad(Virtual Hearing)

capital gain from sale of units in ‘The View’ project in his original return of income furnished u/s 139 of the Act. We further find that during the course of the assessment proceedings, the assessee had duly furnished all the necessary details, documents, bills, vouchers etc. in respect of the project before the Assessing Officer. We also find that

THE ACIT, CENTRAL-2, INDORE vs. SHRI NITESH CHUGH, INDORE

In the result, the appeals of the Revenue for the A

Bench: Shri Rajpal Yadav Hon'Ble & Shri Manish Borad(Virtual Hearing)

capital gain from sale of units in ‘The View’ project in his original return of income furnished u/s 139 of the Act. We further find that during the course of the assessment proceedings, the assessee had duly furnished all the necessary details, documents, bills, vouchers etc. in respect of the project before the Assessing Officer. We also find that