NILIMA KOTHARI,INDORE vs. THE INCOME TAX OFFICER, NATIONAL FACELESS ASSTT. CENTRE, INDORE

In the result appeal of the assessee is allowed as per terms indicated above

Bench: Shri Manish Boradsmt. Neelima Kothari, Income Tax Officer, 601, N.R.K. Villas, Delhi Vs. 22/2 Manoramaganj, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Adnpk7832J Assessee By Shri S.S. Deshpande, Ar Revenue By Shri Ashish Porwal, Sr.Dr Date Of Hearing 08.08.2024 Date Of Pronouncement 20.09.2024

capital gain. 5. I have heard rival submissions and perused the record placed before us and also carefully going through decisions and judgments referred and relied by the Ld. Counsel for the assessee. Before me the assessee has raised three fold legal arguments. Firstly, the notice u/s 148 of the Act is time barred secondly, no valid approval as provided

CUMMINS TECHNOLOGIES INDIA (P) LTD.,DEWAS vs. ACIT CIRCLE 1(1), UJJAIN

In the result, the appeal of the assesse is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanicommins Technologies India Acit, Circle -1(1) Private Limited Ujjain Vs. Industrial Area No.2, A.B. Road, M.P. (Appellant / Assessee) (Revenue) Pan: Aabct2018B Assessee By Shri Ketan Ved & Pinkesh Vakharia Ars Revenue By Ms. Simran Bhullar, Cit-Dr Date Of Hearing 29.11.2023 Date Of Pronouncement 30.11.2023

capital work-fin-progress) and no depreciation was claimed against this cost in the return of income filed by the Assessee for the year under consideration. 5.4 On the facts and in circumstances of the case and in law, the learned AO / T * PO pursuant to the directions of Hon'ble DRP, has erred by not taking cognizance

JCIT(OSD),-2(1),INDORE, INDORE vs. SHRI KESHAV KUMAR NACHANI, INDORE

In the result, all the appeals of the Revenue are dismissed

Bench: Smt. Madhumita Roy & Shri Bhagirath Mal Biyani

X + IN THE INCOME TAX APPELLATE TRIBUNAL “INDORE BENCH”, INDORE ] ] BEFORE SMT. MADHUMITA ROY, JUDICIAL MEMBER, AND SHRI BHAGIRATH MAL BIYANI, ACCOUNTANT MEMBER IT(SS)A No.169&170/Ind/2016 WITH CROSS OBJECTION No.46 and 47/Ind/2016 Assessment Year : 2008-09&2009-10 AND IT(SS)A.No.24/Ind/2017 Asst.Year : 2010-11 AND ITA No.25, 244, 309/Ind/2017& 441/Ind/2018 Asstt.Years

THE DCIT, 2(1), INDORE vs. SHRI KESHAV KUMAR NACHANI, INDORE

In the result, all the appeals of the Revenue are dismissed

Bench: Smt. Madhumita Roy & Shri Bhagirath Mal Biyani

X + IN THE INCOME TAX APPELLATE TRIBUNAL “INDORE BENCH”, INDORE ] ] BEFORE SMT. MADHUMITA ROY, JUDICIAL MEMBER, AND SHRI BHAGIRATH MAL BIYANI, ACCOUNTANT MEMBER IT(SS)A No.169&170/Ind/2016 WITH CROSS OBJECTION No.46 and 47/Ind/2016 Assessment Year : 2008-09&2009-10 AND IT(SS)A.No.24/Ind/2017 Asst.Year : 2010-11 AND ITA No.25, 244, 309/Ind/2017& 441/Ind/2018 Asstt.Years

THE DCIT, 2(1), INDORE vs. SHRI KESHAV KUMAR NACHANI, INDORE

In the result, all the appeals of the Revenue are dismissed

Bench: Smt. Madhumita Roy & Shri Bhagirath Mal Biyani

X + IN THE INCOME TAX APPELLATE TRIBUNAL “INDORE BENCH”, INDORE ] ] BEFORE SMT. MADHUMITA ROY, JUDICIAL MEMBER, AND SHRI BHAGIRATH MAL BIYANI, ACCOUNTANT MEMBER IT(SS)A No.169&170/Ind/2016 WITH CROSS OBJECTION No.46 and 47/Ind/2016 Assessment Year : 2008-09&2009-10 AND IT(SS)A.No.24/Ind/2017 Asst.Year : 2010-11 AND ITA No.25, 244, 309/Ind/2017& 441/Ind/2018 Asstt.Years

M/S. COMPUTER SCIENCE CORPORATION INDIA PVT. LTD.,CHENNAI vs. DEPUTY COMMISSIONER OF INCOME TAX-CIRCLE 2(1) , INDORE

In the result, all the three appeals are partly allowed for statistical purpose and the Stay Application is also disposed of

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

section 92B(2) of the Act the transaction has become international transaction and does not pass the related party/sales filter of 25% applied by TPO and hence should be rejected from the final comparable set. The Ld. AR relied upon the following decisions wherein the company has been rejected on account of high related party transaction on above facts

M/S. COMPUTER SCIENCES CORPORATION INDIA PRIVATE LIMITED,INDORE vs. THE ASST. COMMISSIONER OF INCOME TAX-2(1), INDORE

In the result, all the three appeals are partly allowed for statistical purpose and the Stay Application is also disposed of

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

section 92B(2) of the Act the transaction has become international transaction and does not pass the related party/sales filter of 25% applied by TPO and hence should be rejected from the final comparable set. The Ld. AR relied upon the following decisions wherein the company has been rejected on account of high related party transaction on above facts

M/S. COMPUTER SCIENCE CORPORATION INDIA PVT. LTD.,CHENNAI vs. THE ACIT-CIRCLE 2(1), INDORE

In the result, all the three appeals are partly allowed for statistical purpose and the Stay Application is also disposed of

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

section 92B(2) of the Act the transaction has become international transaction and does not pass the related party/sales filter of 25% applied by TPO and hence should be rejected from the final comparable set. The Ld. AR relied upon the following decisions wherein the company has been rejected on account of high related party transaction on above facts

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

capital consumption is 19 kg (42 lb) of fresh potatoes and 13 kg (30 lb) of processed potatoes, such as frazen French fries and potato chips." 17. The New Encyclopedia Britannica, Volume 19, 15th Edition classifies vegetables on the basis of parts of the plant, such as. root, stem, tuber, i.e., used for food. Potato is a tuber and states

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

capital consumption is 19 kg (42 lb) of fresh potatoes and 13 kg (30 lb) of processed potatoes, such as frazen French fries and potato chips." 17. The New Encyclopedia Britannica, Volume 19, 15th Edition classifies vegetables on the basis of parts of the plant, such as. root, stem, tuber, i.e., used for food. Potato is a tuber and states

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

capital consumption is 19 kg (42 lb) of fresh potatoes and 13 kg (30 lb) of processed potatoes, such as frazen French fries and potato chips." 17. The New Encyclopedia Britannica, Volume 19, 15th Edition classifies vegetables on the basis of parts of the plant, such as. root, stem, tuber, i.e., used for food. Potato is a tuber and states

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

capital consumption is 19 kg (42 lb) of fresh potatoes and 13 kg (30 lb) of processed potatoes, such as frazen French fries and potato chips." 17. The New Encyclopedia Britannica, Volume 19, 15th Edition classifies vegetables on the basis of parts of the plant, such as. root, stem, tuber, i.e., used for food. Potato is a tuber and states

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

capital consumption is 19 kg (42 lb) of fresh potatoes and 13 kg (30 lb) of processed potatoes, such as frazen French fries and potato chips." 17. The New Encyclopedia Britannica, Volume 19, 15th Edition classifies vegetables on the basis of parts of the plant, such as. root, stem, tuber, i.e., used for food. Potato is a tuber and states

INDUSTRIAL FILTERS & FABRICS PRIVATE LIMITED,INDORE vs. THE ACIT 5(1), INDORE

The appeal of the assessee is dismissed

Bench: Shri Kul Bharat & Shri Manish Borada.Y. 2009-10

56,000/- and Rs.36,42,000/- towards land purchase in Mangalia. In the assessment year 2009-10, the assessee has made payments towards capital assets of Rs.3,37,34,144/-. As these capital assets are purchased in India from rupees currency, there was no payment in foreign currency for such assets and therefore, loss on account of foreign exchange fluctuation

LATE SHRI RAMANAND TAPARIA TH/LH CHANDA DEVI TAPARIA,INDORE vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

Appeal of the assessee is allowed for statistical\npurpose

gain of Rs 2,30,820/- which\nwas declared nil by the return filed in response to the notice u/s\n148 of the Act. However the assessee made no submission\n/explanation this regard, therefore the same is also added to the\ntotal income of the assessee for the year under consideration as\nincome from STCG.\nAddition (STCG): Rs 2

LATE SHRI RAMANAND TAPARIA TH/LH CHANDADEVI TAPARIA ,INDORE vs. NATIONAL FACELESS ASSESSMENT CENTREQ, DELHI

Appeal of the assessee is allowed for statistical\npurpose

gain of Rs 2,30,820/- which\nwas declared nil by the return filed in response to the notice u/s\n148 of the Act. However the assessee made no submission\n/explanation this regard, therefore the same is also added to the\ntotal income of the assessee for the year under consideration as\nincome from STCG.\nAddition (STCG): Rs 2

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

M/S. TREASURE WORLD DEVELOPERS PVT. LTD.,INDORE vs. THE ACIT 2(1), INDORE

In the result both the Cross Appeals are dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S. Treasure World Acit 4(1), बनाम/ Developers Pvt. Ltd, Indore Vs. Through Office Of The Official Liquidator, High Court Of Bombay, Bank Of India Building, 5Th Floor, M.G. Road, Indore (Pan: Abopb0352F ) (Assessee/Appellant) (Revenue/Respondent) Acit 4(1), M/S. Treasure World बनाम/ Indore Developers Pvt. Ltd, Vs. Through Office Of The Official Liquidator, High Court Of Bombay, Bank Of India Building, 5Th Floor, M.G. Road, Indore (Pan: Abopb0352F ) (Revenue/Appellant) (Assessee/Respondent)

56,69,67,752/- is out of the borrowed funds. Hence the average value of investment works out to Rs.28,29,83,876/-." Thus it is clear from the reply of the assessee that it claimed investment in shares from borrowed fund of Rs. 56.69 crores and proportionate interest expenditure attributable to the investment in the shares. The A.O then