ACIT-5(1), INDORE vs. S T I INDIA LTD., INDORE

Appeals are disposed of as under:

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

capital expenditure or personal expenses of the assessee), laid out or expended wholly and exclusively for the purposes of the business or profession shall be allowed in computing the income chargeable under the head, “Profits and Gains of Business or Profession”. [Emphasis supplied] Thus, the language of section 37(1) is very clear and leaves no room for any doubt

ACIT-5(1), INDORE vs. S T I INDIA LTD., INDORE

Appeals are disposed of as under:

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

capital expenditure or personal expenses of the assessee), laid out or expended wholly and exclusively for the purposes of the business or profession shall be allowed in computing the income chargeable under the head, “Profits and Gains of Business or Profession”. [Emphasis supplied] Thus, the language of section 37(1) is very clear and leaves no room for any doubt

S T I INDIA LTD.,INDORE vs. ACIT-5(1), INDORE

Appeals are disposed of as under:

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

capital expenditure or personal expenses of the assessee), laid out or expended wholly and exclusively for the purposes of the business or profession shall be allowed in computing the income chargeable under the head, “Profits and Gains of Business or Profession”. [Emphasis supplied] Thus, the language of section 37(1) is very clear and leaves no room for any doubt

ACIT-5(1), INDORE vs. S T I INDIA LTD., INDORE

Appeals are disposed of as under:

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

capital expenditure or personal expenses of the assessee), laid out or expended wholly and exclusively for the purposes of the business or profession shall be allowed in computing the income chargeable under the head, “Profits and Gains of Business or Profession”. [Emphasis supplied] Thus, the language of section 37(1) is very clear and leaves no room for any doubt

S T I INDIA LTD.,INDORE vs. ACIT-5(1), INDORE

Appeals are disposed of as under:

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

capital expenditure or personal expenses of the assessee), laid out or expended wholly and exclusively for the purposes of the business or profession shall be allowed in computing the income chargeable under the head, “Profits and Gains of Business or Profession”. [Emphasis supplied] Thus, the language of section 37(1) is very clear and leaves no room for any doubt

S T I INDIA LTD.,INDORE vs. ACIT-5(1), INDORE

Appeals are disposed of as under:

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

capital expenditure or personal expenses of the assessee), laid out or expended wholly and exclusively for the purposes of the business or profession shall be allowed in computing the income chargeable under the head, “Profits and Gains of Business or Profession”. [Emphasis supplied] Thus, the language of section 37(1) is very clear and leaves no room for any doubt

SHRI SHARAD AGRAWAL,INDORE vs. THE JCIT RANGE-4, INDORE

In the result, all these three appeals of the Assessees are partly allowed

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year : 2009-10

section 111A with the object to end the litigation. Hon’ble Finance Minister while presenting Union Budget – 2004-05, clarified the aim and object of Government for introducing the security transaction tax and exempting the long term capital gain from sale of share and levying 10% tax and on short term capital gain on sale of shares . The contents

SHRI SUSHIL KUMAR BAFNA,UJJAIN vs. THE ITO 1(1), UJJAIN

In the result, the appeal of the assessee is partly allowed

Bench: Shri C.M.Garg & Shri O.P.Meenaआ.अ.सं./ I.T.A. No. 637/Ind/2014 "नधा"रण वष" /Assessment Year: 2010-11

capital gains of Rs. 99,40,150 and added to the income of the assessee. 4. Being, aggrieved the assessee filed an appeal before the ld. CIT (A). The Ld. CIT (A) observed that the assessee has sold the Shri Sushil Kumar Bafna, Ujjain v. ITO-1(1) /I.T.A. No. 637/Ind/2014/A.Y.:10-11 Page 7 of 24 land

VIJAY RADHESHYAM NYATI HUF,DHAR vs. ITO, DHAR

In the result appeals of the assessee(s) namely Kumari

Bench: Hon'Ble Manish Borad & Hon'Ble Madhumita Royassessment Year:2014-15 Kumari Ayushi Nyati Ito, 5(5) 10, Balaji Vihar, 1-2, Maa Durg Indore बनाम/ Nagar, Navlakha Main Road 1 To Vs. 7, Indore (Appellant) (Revenue ) P.A. No.Ajppn2679C Assessment Year:2014-15 Smt. Vijaya Nyati, Ito, Dhar 5 Nyati House, Mandi Road बनाम/ Dhammod, Dist: Dhar M.P. Vs. (Appellant) (Revenue ) P.A. No.Aappn8302B Assessment Year:2014-15 Shri Vijay Kumar Radheshyam Ito, Dhar Nyati, Huf बनाम/ 5 Nyati House, Mandi Road Vs. Dhammod, Dist: Dhar M.P. (Appellant) (Revenue ) P.A. No.Aachv4415Q

1), Mumbai ITAT Mumbai ‘SMC’ (2021) (Pages 253 – 256 of Case Laws Paper Book) 17. Dipesh Ramesh Vardhan Vs. DCIT- Central Circle -2(2), Mumbai (ITAT Mumbai “D” Bench) – (2020) (Pages 257 - 276 of Case Laws Paper Book) 18. Ashok Agrawal & Others V/s ACIT, Jaipur, I.T.A.T. ITA No.124/JP/20 & others dated 18.11.2020. 10. Ld. Counsel for the assessee also submitted that

MANISH KUMAR RADHESHYAM NYATI ,DHAR vs. ITO, DHAR

In the result appeals of the assessee(s) namely Kumari

Bench: Hon'Ble Manish Borad & Hon'Ble Madhumita Royassessment Year:2014-15 Kumari Ayushi Nyati Ito, 5(5) 10, Balaji Vihar, 1-2, Maa Durg Indore बनाम/ Nagar, Navlakha Main Road 1 To Vs. 7, Indore (Appellant) (Revenue ) P.A. No.Ajppn2679C Assessment Year:2014-15 Smt. Vijaya Nyati, Ito, Dhar 5 Nyati House, Mandi Road बनाम/ Dhammod, Dist: Dhar M.P. Vs. (Appellant) (Revenue ) P.A. No.Aappn8302B Assessment Year:2014-15 Shri Vijay Kumar Radheshyam Ito, Dhar Nyati, Huf बनाम/ 5 Nyati House, Mandi Road Vs. Dhammod, Dist: Dhar M.P. (Appellant) (Revenue ) P.A. No.Aachv4415Q

1), Mumbai ITAT Mumbai ‘SMC’ (2021) (Pages 253 – 256 of Case Laws Paper Book) 17. Dipesh Ramesh Vardhan Vs. DCIT- Central Circle -2(2), Mumbai (ITAT Mumbai “D” Bench) – (2020) (Pages 257 - 276 of Case Laws Paper Book) 18. Ashok Agrawal & Others V/s ACIT, Jaipur, I.T.A.T. ITA No.124/JP/20 & others dated 18.11.2020. 10. Ld. Counsel for the assessee also submitted that

KUMARI AYUSHI NYATI,INDORE vs. ITO-5(5), INDORE

In the result appeals of the assessee(s) namely Kumari

Bench: Hon'Ble Manish Borad & Hon'Ble Madhumita Royassessment Year:2014-15 Kumari Ayushi Nyati Ito, 5(5) 10, Balaji Vihar, 1-2, Maa Durg Indore बनाम/ Nagar, Navlakha Main Road 1 To Vs. 7, Indore (Appellant) (Revenue ) P.A. No.Ajppn2679C Assessment Year:2014-15 Smt. Vijaya Nyati, Ito, Dhar 5 Nyati House, Mandi Road बनाम/ Dhammod, Dist: Dhar M.P. Vs. (Appellant) (Revenue ) P.A. No.Aappn8302B Assessment Year:2014-15 Shri Vijay Kumar Radheshyam Ito, Dhar Nyati, Huf बनाम/ 5 Nyati House, Mandi Road Vs. Dhammod, Dist: Dhar M.P. (Appellant) (Revenue ) P.A. No.Aachv4415Q

1), Mumbai ITAT Mumbai ‘SMC’ (2021) (Pages 253 – 256 of Case Laws Paper Book) 17. Dipesh Ramesh Vardhan Vs. DCIT- Central Circle -2(2), Mumbai (ITAT Mumbai “D” Bench) – (2020) (Pages 257 - 276 of Case Laws Paper Book) 18. Ashok Agrawal & Others V/s ACIT, Jaipur, I.T.A.T. ITA No.124/JP/20 & others dated 18.11.2020. 10. Ld. Counsel for the assessee also submitted that

SMT VIJAYA NYATI, DHAR vs. ITO, DHAR

In the result appeals of the assessee(s) namely Kumari

Bench: Hon'Ble Manish Borad & Hon'Ble Madhumita Royassessment Year:2014-15 Kumari Ayushi Nyati Ito, 5(5) 10, Balaji Vihar, 1-2, Maa Durg Indore बनाम/ Nagar, Navlakha Main Road 1 To Vs. 7, Indore (Appellant) (Revenue ) P.A. No.Ajppn2679C Assessment Year:2014-15 Smt. Vijaya Nyati, Ito, Dhar 5 Nyati House, Mandi Road बनाम/ Dhammod, Dist: Dhar M.P. Vs. (Appellant) (Revenue ) P.A. No.Aappn8302B Assessment Year:2014-15 Shri Vijay Kumar Radheshyam Ito, Dhar Nyati, Huf बनाम/ 5 Nyati House, Mandi Road Vs. Dhammod, Dist: Dhar M.P. (Appellant) (Revenue ) P.A. No.Aachv4415Q

1), Mumbai ITAT Mumbai ‘SMC’ (2021) (Pages 253 – 256 of Case Laws Paper Book) 17. Dipesh Ramesh Vardhan Vs. DCIT- Central Circle -2(2), Mumbai (ITAT Mumbai “D” Bench) – (2020) (Pages 257 - 276 of Case Laws Paper Book) 18. Ashok Agrawal & Others V/s ACIT, Jaipur, I.T.A.T. ITA No.124/JP/20 & others dated 18.11.2020. 10. Ld. Counsel for the assessee also submitted that

SMT. MAMTA NYATI DHAMNOD DISTT. DHAR,DHAMNOD vs. ITO DHAR, DHAR

In the result appeals of the assessee(s) namely Kumari

Bench: Hon'Ble Manish Borad & Hon'Ble Madhumita Royassessment Year:2014-15 Kumari Ayushi Nyati Ito, 5(5) 10, Balaji Vihar, 1-2, Maa Durg Indore बनाम/ Nagar, Navlakha Main Road 1 To Vs. 7, Indore (Appellant) (Revenue ) P.A. No.Ajppn2679C Assessment Year:2014-15 Smt. Vijaya Nyati, Ito, Dhar 5 Nyati House, Mandi Road बनाम/ Dhammod, Dist: Dhar M.P. Vs. (Appellant) (Revenue ) P.A. No.Aappn8302B Assessment Year:2014-15 Shri Vijay Kumar Radheshyam Ito, Dhar Nyati, Huf बनाम/ 5 Nyati House, Mandi Road Vs. Dhammod, Dist: Dhar M.P. (Appellant) (Revenue ) P.A. No.Aachv4415Q

1), Mumbai ITAT Mumbai ‘SMC’ (2021) (Pages 253 – 256 of Case Laws Paper Book) 17. Dipesh Ramesh Vardhan Vs. DCIT- Central Circle -2(2), Mumbai (ITAT Mumbai “D” Bench) – (2020) (Pages 257 - 276 of Case Laws Paper Book) 18. Ashok Agrawal & Others V/s ACIT, Jaipur, I.T.A.T. ITA No.124/JP/20 & others dated 18.11.2020. 10. Ld. Counsel for the assessee also submitted that

M/S TRUBA EDUCATION SOCIETY ,BHOPAL vs. PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL) BHOPAL, BHOPAL

Bench: Shri B.M. Biyani & Shri Udayan Das Gupta

41 (Bangalore – Trib), order dated 16.04.2024: “4. Next grounds for our consideration in ground Nos.2, 3, 5 & 12 are with regard to cancelling registration granted u/s 12AA/12AB of the Act by invoking the provisions of section 12AB(4)(ii) of the Act with retrospective effect though this section was introduced by Finance Act, 2022 w.e.f

VIMAL TODI,INDORE vs. ADDITIONAL COMMISSIONER OF INCOME TAX, INDORE

Appeal is allowed

Bench: Shri B.M. Biyani & Shri Paresh M Joshishri Vimal Todi, Additional Commissioner बनाम/ 501, Darshan Residency, Of Income-Tax, Vs. 104-105, Anand Bazar, Indore Indore

section 275(1)(c). Then, in Ram Kishan Verma (supra), the Jaipur Bench of ITAT has accepted that the starting point would be the date on which the AO received information from DDIT about commitment of default by assessee. We may gainfully refer a recent decision of ITAT, Chennai in DCIT, Central Circle, 2(2), Chennai Vs. Subramaniam Thanu, Chennai

SHRI SHALIGRAM BAROD, ,INDORE vs. PR. CIT-1, INDORE

Bench: Hon'Ble Manish Borad & Hon'Ble’ Madhumita Royassessment Year:2014-15 Shri Shaligram Barod, Pr. Cit-I, Ah/29, Hig, Sukhliya Indore बनाम/ Indore Vs. (Appellant) (Respondent ) P.A. No. Ahfpp4068H Appellant By Shri S.N. Agrawal, Ca Revenue By Shri S.B. Prasad, Cit-Dr

section 54F was claimed on account of investment in capital gain account and partly in construction of a new house. 4.2 ·You have, claimed that transfer of the said property took place during the AY 2014-15., however while determining sale consideration, you have adopted the value of sale agreement (l.e. Rs.97,65,0001-.) which was entered into during

SHRI PRADEEP MAHESHWARI HUF,INDORE vs. THE ACIT 3(1), INDORE

In the result I.T.A.No.315/Ind/2012& I

Bench: Shri Kul Bharat & Shri Manish Borad

41,683/-. During the year under consideration the assessee claimed long term capital gain of Rs.34,65,171/ - on a scrip named Shri Nidhi Trading Limited. On scrutinizing the complete transaction the total sale value came to Rs.36,72,631/- and total purchase value came to Rs.2,07,460/-. The assessee accordingly showed capital gain of Rs.34

SMT. ANNAPURNA MAHESHWARI,INDORE vs. THE ACIT, 4(1), INDORE

In the result I.T.A.No.315/Ind/2012& I

Bench: Shri Kul Bharat & Shri Manish Borad

41,683/-. During the year under consideration the assessee claimed long term capital gain of Rs.34,65,171/ - on a scrip named Shri Nidhi Trading Limited. On scrutinizing the complete transaction the total sale value came to Rs.36,72,631/- and total purchase value came to Rs.2,07,460/-. The assessee accordingly showed capital gain of Rs.34