THE ACIT, CIRCLE 2(1), INDORE vs. DR. SHRI RAJEEV CHAUDHARY, INDORE

In the result, the appeal of the revenue is allowed and cross objection of the assessee is partly allowed

Bench: Hon'Ble I Kul Bharat & Hon'Ble Manish Boradassessment Year 2008-09 Pan : Abkpc5729K Assistant Commissioner Of V/S Dr.Rajeev Choudhary Income Tax, 1, Shiv Vilas Palace Circle-2(1), Indore Indore

section 143(3) of IT, Act, 1961 at Rs.3,17,71,700/- 5. Aggrieved assessee preferred an appeal before the ld. CIT(A) and partly succeeded as Ld. CIT(A) confirmed the disallowance u/s 14A of the Act at Rs.2,15,542/- and allowed the assessee’s claim of profit from purchase and sale of equity shares held for less

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

In the result, this appeal of assessee is dismissed

Bench: Shri T.R. Senthil Kumar & Shri B.M. Biyani

Capital Gain. 9. Then, Ld. DR placed reliance on the decision of Hon’ble High Court of Kolkata in PCIT Vs. Swati Bajaj, ITA No. 06/2022, dated 14.06.2022 decided recently in favour of Revenue. The decision is much detailed; has considered various legal precedents of the Hon’ble Supreme Court and other Page 20 of 26 Shri Rupesh Vyas Assessment

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. 9. Then, Ld. DR placed reliance on the decision of Hon’ble High Court of Kolkata in PCIT Vs. Swati Bajaj, ITA No. 06/2022, dated 14.06.2022 decided recently in favour of Revenue. The decision is much detailed; has considered various legal precedents of the Hon’ble Supreme Court and other Courts; has taken into account the Investigation-Report

SHRI ABHISHEK GUPTA,INDORE vs. ITO-5(5), INDORE

In the result, this appeal of assessee is dismissed

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

Capital Gain made by the respective assessee(s) deserves to be allowed as they have entered into the transactions of purchase and sales duly supported by the documents which have not found to be incorrect. The conditions provided u/s 10(38) of the Act have been fulfilled by the assessee(s) namely Shivnarayan Sharma, Sapan Shaw, Prayank Jain, Govind Harinarayan

SHRI SURESH AGRAWAL,INDORE vs. THE ITO -5(3), INDORE

In the result, appeal filed by the assessee is partly allowed

Bench: Shri D.T. Garasia & Shri O.P. Meena

capital gains of Rs. 8,07,484/- ( sale consideration of Rs. 8,70,411- index cost of acquisition 62,927) for the land sold at village Buri Barlai. The Ld. A.R. submitted that the assessee is eligible for deduction under section

SHRI HAKIMUDDIN KHAMBATI,INDORE vs. ITO-4(4) RANGE-4, INDORE

In the result appeal of the assessee in ITA No

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

70,496/- to the total income of the appellant on account of long term capital gain as earned on sale of long term capital gain as earned on sale of shares by treating it as income from undisclosed sources without properly appreciating the facts of the case and submissions made before him more so when the appellant had filed ample

SMT. MANISHA AGRAWAL,INDORE vs. THE ITO-4 (3), INDORE

In the result appeal of the assessee in ITA No

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

70,496/- to the total income of the appellant on account of long term capital gain as earned on sale of long term capital gain as earned on sale of shares by treating it as income from undisclosed sources without properly appreciating the facts of the case and submissions made before him more so when the appellant had filed ample

PARMANAND SACHDEV,INDORE vs. ITO 5(5), INDORE

In the result, this appeal of assessee is dismissed

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

70,23,526/-, resulting into a exempted capital gain of Rs. 69,78,526/-. 9. During assessment-proceeding, Ld. AO confronted the assessee about these transactions and made following observations: (i) The assessee has earned capital gain from the transactions of shares of Turbotech Engineering Ltd., which falls within the category of a “Penny stock” as per the information available

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 44,81,373 5 Addition of amounts paid by WCS 35,50,000 6 Disallowance u/s 40A(3) 14,34,307 Assessed income 8,42,92,165 4. Aggrieved by the additions/disallowances made by AO, the assessee carried matter in first-appeal and succeeded partly. Now, the revenue has come in this appeal on various grounds assailing

THE ITO-2(2), INDORE vs. SMT. MOHAN BAI POKHRANA, INDORE

In the result, appeal of the Revenue is dismissed

Bench: Shri C.M. Garg, Jm & Shri O.P.Meena, Am आ.अ.सं./ I.T.A. No.468/Ind/2013 "नधा"रण वष"/ Assessment Year: 2009-10

section 54 EC of the Act. 6. On the other hand, the learned counsel for the assessee submitted that the assessee has invested an amount of Rs. 70,00,0 00/-on 02-12-2008 i.e. within six months from the date of sale of asset under the capital gain

HARPREET KAUR,BHOPAL vs. INCOME-TAX OFFICER, 5(2), BHOPAL, BHOPAL

Appeal is allowed in terms mentioned above

70,000/-, which is beyond the\nbelieve that a person having withdrawal almost 10 to 12 months\nprior to the purchase was searching the right property with the bare\ncash kept in his pocket. However, from the available facts, it is\nevident that the purchaser has not sufficient fund to buy the\nproperty at much higher rate.\n2.7 With view

SMT. MAMTA SINGH,INDORE vs. ASSISTANT COMMISSIONER OF INCOME TAX- 3(1), INDORE

In the result appeal of the assessee is partly allowed for

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradassessment Year 2013-14 Smt. Mamta Singh Vs Acit-3(1) Ef-14, Scheme No.54, Indore Vijay Nagar, Indore

70,14,902/- made by AO in respect of sale of lands at county walk (village Jhalaria) effected by appellant through M/s Aarone Developers Pvt. Ltd , by treating the Capital Gains offered by appellant as income from Business . He failed to see that since the lands in question were Mamta Singh held by appellant as investment since inception , mere sale

THE DCIT-3(1), INDORE vs. KUMARI SHEETAL GARG, INDORE

In the result Ground No. 1& 2 of the

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradassessment Year 2008-09 Dcit-3(1), Kumari Sheetal Garg, Indore Vs. 8/2, New Palasia, Indore (Appellant) (Respondent ) Pan No.Afhpg9179G Revenue By Shri K.C. Selvamani, Sr.Dr Assessee By Shri S.S. Solanki, Ca Date Of Hearing 07.01.2019 Date Of Pronouncement 10.01.2019 O R D E R

gain is short term and exemption u/s 54F is not allowable & (ii) The reopening was valid. 6. Ld. Departmental Representative vehemently supported the order of Ld.A.O. 7. Per contra Ld. Counsel for the assessee supported the findings of Ld. CIT(A) and submitted that as per Section 2 (47)(v) of the IT Act "Any transaction involving the allowing

KUSUM YADAV,INDORE vs. ITO 1(2), INDORE

In the result, the appeal of the assessee bearing ITA No

capital gains sustained by the first\nappellate authority on incorrect assumption of facts may please be deleted.\n11.\nRegarding ground numbers 4 and 5, which relates to the addition of Rs.20\nlakhs u/s 68 of the Act 61, the Ld. AR submitted that the cash deposit of\nRs.21,70,000/- made by the assessee in her bank account

GUNVEER SINGH CHHABRA ,INDORE vs. THE PR CIT -1, INDORE

In the result, assessee’s appeal is allowed

Bench: Ms. Madhumita Roy, Judicial Memebr & Shri Bhagirath Mal Biyani

70, Palsikar Colony, Indore Income Tax-I Vs. – 452004 (M.P.) Aaykar Bhawan, Indore, Madhya Pradesh - 452001 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAVPC2237N (अपीलाथ" /Appellant) .. (""यथ" / Respondent) अपीलाथ" ओर से/Appellant by : Shri Shubhash Jain, A.R. ""यथ" क" ओर से / Shri P. K. Mitra, CIT.D.R. Respondent by : सुनवाई क" तारीख / Date of 28/07/2022 Hearing घोषणा क" तारीख /Date

SMT. SARLA JAIN,KHANDWA vs. ITO WARD 1 KHANDWA, KHANDWA

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2015-16 Smt. Sarla Jain, Ito, C/O Nakoda Marketing, Ward-1, बनाम/ Bhavani Mata Road, Khandwa Khandwa Vs. (Assessee / Appellant) (Revenue / Respondent) Pan: Abvpj1316J Assessee By Shri Pawan Ved, Advocate Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 31.05.2023 Date Of Pronouncement 24.08.2023

capital gain & same has been claimed as exempt u/s 10(38) of the I.T. Act. The case was selected for scrutiny under CASS and notice u/s 143(2) of the I. T. Act was issued on 25.07.2016 and the same was served upon the assessee on 29.07.2016. A copy of the same is placed on record. Thereafter notice

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 and business income from sale of units in ‘Almas 12 Mohanlal Chugh & others Elements’ project in his original returns 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

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 from sale of units in ‘The View’ project and business income from sale of units in ‘Almas 12 Mohanlal Chugh & others Elements’ project in his original returns 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