RUPESH VYAS,INDORE vs. THE ACIT3(1), INDORE, INDORE

In the result, this appeal of assessee is dismissed

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani

capital gain and paper work has been done merely to give a colour of authenticity to the transaction and by creating a façade of legitimate transactions. The same is therefore chargeable to tax u/ s 68 of IT Act. Section 68 of the Income-tax Act, 1961, reads as under: "68. Where any sum is found credited in the books

SMT. SHWETA AGRAWAL,INDORE vs. THE PR. CIT-2, INDORE

In the result, appeal filed by the assessee is allowed

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year:2014-15

gain was genuine or not. 5. Legal position on power of Commissioner for Revision u/s 263: Case laws on the power of Commissioner, favor Revenue, in following situations as regards enquiry by Assessing Officer: a. Complete failure to conduct relevant enquiry; b. Conducting enquiry but not taking it to its logical conclusion; c. Conducting enquiry but drawing the wrong conclusion

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

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

Section 69C of the Act as unexplained expenditure in respect of estimation of commission expense made by the Ld. AO @5% on the amount of Long Term Capital Gain

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

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

Section 69C of the Act as unexplained expenditure in respect of estimation of commission expense made by the Ld. AO @5% on the amount of Long Term Capital Gain

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

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

Section 69C of the Act as unexplained expenditure in respect of estimation of commission expense made by the Ld. AO @5% on the amount of Long Term Capital Gain

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

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

Section 69C of the Act as unexplained expenditure in respect of estimation of commission expense made by the Ld. AO @5% on the amount of Long Term Capital Gain

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

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

Section 69C of the Act as unexplained expenditure in respect of estimation of commission expense made by the Ld. AO @5% on the amount of Long Term Capital Gain

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

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

Section 69C of the Act as unexplained expenditure in respect of estimation of commission expense made by the Ld. AO @5% on the amount of Long Term Capital Gain

ACIT CIRCLE 1(1), UJJAIN vs. A ONE ENCLAVE, UJJAIN

In the result, grounds taken by Revenue are dismissed

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradassessment Year 2012-13 Acit, Circle-1(1), V/S M/S. A One Enclave, Ujjain 3687/1, Hariphatak Road, Ujjain

69C or section 69D." 10. In light of above, given the fact that the AO has invoked the provisions of section 11BBE in the instant case, the provisions of sub-section (2) to section 11BBE are equally applicable. The amendment brought in by the Finance Act, 2016 whereby set off of losses against income referred to in section 69Bhas been

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

section 69,69A,69B and 69C being treated separately, because such deemed income is not income from salary, house property, profit and gains of business or profession or capital

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

MANORAMA DEVI SHARMA,INDORE vs. ITO-3(1), INDORE

In the result, appeals of the assessee(s) namely Smt

Bench: Hon’Ble Rajpal Yadav & Hon’Ble Manish Boradvirtual Hearing Assessment Year 2014-15

Capital Gain as “Penny Stock”, a term nowhere define under the Income Tax Act as any other law for the time being in force, which is quite unjust, illegal and against the facts of the case. 2 Smt. Manorama Devi Sharma & Shri Prakash Bajaj ITA Nos. 39 & 489/Ind/2019, 4. That the ld. CIT(A) has erred in confirming the disallowance

PRATAP BAJAJ,INDORE vs. ITO-4(1) INDORE, INDORE

In the result, appeals of the assessee(s) namely Smt

Bench: Hon’Ble Rajpal Yadav & Hon’Ble Manish Boradvirtual Hearing Assessment Year 2014-15

Capital Gain as “Penny Stock”, a term nowhere define under the Income Tax Act as any other law for the time being in force, which is quite unjust, illegal and against the facts of the case. 2 Smt. Manorama Devi Sharma & Shri Prakash Bajaj ITA Nos. 39 & 489/Ind/2019, 4. That the ld. CIT(A) has erred in confirming the disallowance

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’ and since the assessee fulfills the conditions laid down in provisions of s.54F of the Act, the assessee is entitled to claim deduction u/s. 54F to the Act. Further, the decision of the Hon’ble Bombay High Court in the case of CIT vs. Sheth Developers (P) Ltd. (2012) 208/25 taxmann.com 173, as also relied upon

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’ and since the assessee fulfills the conditions laid down in provisions of s.54F of the Act, the assessee is entitled to claim deduction u/s. 54F to the Act. Further, the decision of the Hon’ble Bombay High Court in the case of CIT vs. Sheth Developers (P) Ltd. (2012) 208/25 taxmann.com 173, as also relied upon

THE ACIT, CENTRAL-2, INDORE vs. SHRI MOHANLAL 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’ and since the assessee fulfills the conditions laid down in provisions of s.54F of the Act, the assessee is entitled to claim deduction u/s. 54F to the Act. Further, the decision of the Hon’ble Bombay High Court in the case of CIT vs. Sheth Developers (P) Ltd. (2012) 208/25 taxmann.com 173, as also relied upon

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

Section 69C: Unexplained expenditure: That the Commissioner of Income tax (A) further erred in law in confirming the addition of Rs.1,22,341/- which was made solely on presumption that the appellant arrangec accommodation entry for earning long term capital gain

M/S BANSAL EXTRACTION & EXPORT P LTD,BHOPAL vs. DCIT,CENTRAL-1, BHOPAL

In the result, the appeal of assessee is dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S. Bansal Extraction & Dcit Export Pvt. Ltd. Central-1 3Rd Floor Tawa Complex, Bittan Bhopal Vs. Market E-4, Arera Colony, Bhopal (Appellant / Assessee) (Revenue) Pan: Aadcb 7521 M Assessee By Shri Anil Khabya, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 05.09.2023 Date Of Pronouncement 20.09.2023

69C being treated separately, because such deemed income is not income from salary, house property, profits and gains of business or profession, or capital gains, nor is it income from "other sources" because the provisions of Sections