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

90,69,199/-. 6. During assessment-proceeding, Ld. AO confronted the assessee about these transactions and also recorded the statements of assessee u/s 131 of the act. Finally, the Ld. AO concluded that the capital gain declared by the assessee is not genuine and the same has been arranged by the assessee so as to claim benefit of section

SHRI KRISHNA MOHAN CHOURSIYA, RAJGARH vs. ITO, RAJGARH

In the result, the assessee’s appeal i

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

section 2(14)(iii) of the Act till the date of its diversion. Thereafter, capital gain computed considering the fair market value of land on the date of diversion of Rs.68,90

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

SARITA BAGDI ,INDORE vs. THE ITO WARD-4(1), INDORE

In the result appeal of the assessee is allowed

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2011-12

Section 10(38) of the Act. Income assessed at Rs.57,95,617/-. Smt. Sarita Bagdi Aggrieved assessee preferred appeal before Ld. CIT(A) but failed to succeed as the view taken by Ld. A.O was confirmed by the Ld. CIT(A). Ld. CIT(A) apart from holding that the purchases are not genuine also held that M/s VIP Industries Limited

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

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

90,000 2 Income from business (being 5,71,856 proprietor of M/s Samarth Impex, Indore) 3 Income from Long Term Capital 27,50,406 Gain (Exempt U/s 10(38) of the Income Tax Act 4 Interest on saving Bank Interest 8,715 5 Dividend Income 3,830 3.1] Details of all bank accounts as maintained by the assessee

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

Gains to large number of persons in lieu of unaccounted cash. The basic objective of this racket is to convert black money into white without payment of Income Tax. The unaccounted cash of such persons [beneficiaries] is utilized to purchase shares of such companies at a very high artificially inflated market price. This practice is generally called Accommodation Entry Scam

SHRI BHAWANI SHANKAR PARASHAR,INDORE vs. THE DCIT/ACIT 1 (2), INDORE

In the result, appeal of assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanishri Bhawani Shankar Pr. Cit-1 Prashar Indore 28, Lasudia Mori, Vijay Vs. Nagar, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Bgbpp 2475 G Assessee By Shri S.N. Agrawal, Ar Revenue By Shri P.K. Mishra, Cit-Dr Date Of Hearing 02.05.2023 Date Of Pronouncement 21.06.2023

90 days, that longer period shall apply. IV. It is further clarified that the period from 15-3-2020 till 28- 2-2022 shall also stand excluded in computing the periods prescribed under sections 23 (4) and 29A of the Arbitration and Conciliation Act, 1996, Section 12A of the Commercial Courts Act, 2015 and provisos (b) and (c) of section

SATYANARAYAN SHARMA,INDORE vs. PRINCIPAL COMMISSIONER OF INCOME TAX-I, INDORE

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

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year:2013-14

capital gain shall be dealt with in accordance with……………” Provisions of section 54F require construction of one residential house in India. Construction of a residential house means all the investments/expenses incurred to make it a habitual place to live. All the investments made at the time of construction of new residential house to give it an adequate standard of living

SHRI CDR, UDAI SINGH,BHOPAL vs. THE ACIT 3(1), BHOPAL

In the result, the appeal of the assessee is allowed

Bench: Shri D.T. Garasia & Shri O.P. Meenaआ.अ.सं./I.T.A. No.791/Ind/2014 "नधा"रण वष" /Assessment Year: 2010-11 Cdr Udaisingh Bhopal Pan – Aglps – 7299C :: अपीलाथ" /Appellant Vs Acit 3(1) :: ""यथ" /Respondent Bhopal Shri Ajay Tulsiyan & "नधा"रती क" ओर से/Assessee By Shri Pankaj Shah Shri K.G. Goyal राज"व क" ओर से/Revenue By 12.1.2017 सुनवाई क" तार"ख Date Of Hearing 19.1.2017 उ"घोषणा क" तार"ख Date Of Pronouncement

section 271(1)(c) of the Income tax Act on account of non disclosure of Short Term Capital Gain ofRs. 36,13,794/- in the original return of income filed by the assessee. A notice u/s 271(1)(c) dated 25.03.2013 was issued and the assessee was show caused as to why penalty should not be levied. But neither anyone

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 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

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 ITO 2 (2), BHOPAL vs. SHRI MUNSHIRAM BALKISHAN VERMA, BHOPAL

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani(Conducted Through Virtual Court)

section 54B. Ld. DR submitted that the AO has perfectly dealt with both of these aspects and thereafter taxed the capital-gain which remained taxable as per provisions of Income-tax Act. Ld. DR submitted that there is no fallacy in the action of AO; therefore his action must be upheld. 6. Replying to above, Ld. AR representing the assessee

THE ITO 2 (2), BHOPAL vs. SHRI MUNSHIRAM BALKISHAN VERMA, BHOPAL

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani(Conducted Through Virtual Court)

section 54B. Ld. DR submitted that the AO has perfectly dealt with both of these aspects and thereafter taxed the capital-gain which remained taxable as per provisions of Income-tax Act. Ld. DR submitted that there is no fallacy in the action of AO; therefore his action must be upheld. 6. Replying to above, Ld. AR representing the assessee

DCIT3(1), INDORE vs. SHRI MANOJ DAGA, INDORE

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year:2010-11

Gains (LTCG)/ Short Term Capital Loss (STCL) through penny stocks from monetary limits specified in any Circular issued under section 268A of the Income-Tax Act, 1961. 1.3.3] In the facts of the present case, the respondent assessee Manoj Daga /ITANo.931/Ind/2019 received unsecured loan of Rs. 90

SHRI KESHAV KANUNGO,BHOPAL vs. PR CIT -1 , BHOPAL

In the result, appeal of the assessee is allowed

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

Section 143(3) vide order dated 26.10.2017. The Assessing Officer made addition of Long Term Capital Gain (LTCG) amounting to Rs.91,57,000/-. The PCIT observed that the assessee had taken total sale consideration of Rs.1,41,57,000/- against Rs.2,00,45,000/- being 50% share of Rs.4,00,90