MANISH CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

Section 148 was issued and the proceeding was carried by the Ld. AO. Upon verification of computation of income it was found that the assessee had shown exempt long term capital gain on purchase/sale of shares at Rs. 74,88,105/-. The assessee in total purchased 2,00,000 quantity of scrip of M/s. Splash Media Works Ltd. from

MANISH CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

Section 148 was issued and the proceeding was carried by the Ld. AO. Upon verification of computation of income it was found that the assessee had shown exempt long term capital gain on purchase/sale of shares at Rs. 74,88,105/-. The assessee in total purchased 2,00,000 quantity of scrip of M/s. Splash Media Works Ltd. from

PAWAN KUMAR CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

Section 148 was issued and the proceeding was carried by the Ld. AO. Upon verification of computation of income it was found that the assessee had shown exempt long term capital gain on purchase/sale of shares at Rs. 74,88,105/-. The assessee in total purchased 2,00,000 quantity of scrip of M/s. Splash Media Works Ltd. from

ASHISH CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

Section 148 was issued and the proceeding was carried by the Ld. AO. Upon verification of computation of income it was found that the assessee had shown exempt long term capital gain on purchase/sale of shares at Rs. 74,88,105/-. The assessee in total purchased 2,00,000 quantity of scrip of M/s. Splash Media Works Ltd. from

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

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 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

SHRI RAVI PRAKASH LANGER PROP M/S LANGER AUTO SALES & SEVICES, UJJAIN,UJJAIN vs. ACIT 2 (1), UJJAIN

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

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

96,62,340/-. The Assessing Officer observed that the assessee sold lands survey no. 31, 32, 37,38 measuring to a total of 2.57 hectares situated at village Karadia/Navakheda, Tehsil and District Ujjain for a total sale consideration of Rs. 3,01,00,000/- on 30.09.2010. The assessee has invested the proceeds of capital gain into capital gain fixed deposit

THE ACIT, 5(1), INDORE vs. SHRI RAJ KUMAR SHAMBHUDAYAL AGRAWAL, INDORE

In the result, Appeal of the Revenue in ITANo

Bench: Shri Rajpal Yadav Hon'Ble & Shri Manish Boradassessment Year:2011-12 Acit 5(1) Shri Raj Kumar Indore Shambhudayal Agrawal बनाम/ Indore Vs. (Appellant) (Respondent ) P.A. No.Adcpa0468M Revenue By Shri Rajeeb Jain, Cit-Dr Respondent By S/Shri C.P. Rawka & Veenus Rawka, Cas Date Of Hearing: 13.10.2021 Date Of Pronouncement: 17.11.2021 आदेश / O R D E R Per Manish Borad: The Above Captioned Appeal At The Instance Of Revenue Is Directed Against The Order Of Ld. Commissioner Of Income Tax(Appeals)-Iii, (In Short ‘Cit(A)’), Indore Dated 25.11.2016 Which Is Arising Out Of The Order U/S 143(3) Of The Income Tax Act 1961(In Short The ‘Act’) Dated 27.02.2014 Framed By Dcit-5(1) Indore.

capital gain. 6.Whether Ld. CIT (Appeals) has erred in deleting addition of Rs. 18 lacs made on account of cash deposits in bank account. 7.The appellant craves leave to add to or deduct from or otherwise amend the above rounds of appeal. 5. Ld. DR vehemently argued supporting the order of Assessing Officer along with furnishing remand report dated

SANTOSH RATHORE,INDORE vs. PRINCIPAL COMMISSIONER OF INCOME TAX, INDORE - 1, INDORE

Appeal is allowed

capital gain of Rs.32.79,066/- declared by the\nassessee and claimed exempt u/s 10(38) of the Act is bogus, therefore, there\nis live nexus between the information available and the satisfaction recorded\nand, accordingly, Ld. CIT-DR submit that the case of the assessee was\nrightly reopened and prayed accordingly.\nPage 19 of 49\nSantosh Rathore\nITA No. 451/Ind/2024

NARENDRA KUMAR AGRAWAL,BURHANPUR vs. PCIT INDORE-1, INDORE

In the result, appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaninarendra Kumar Agrawal Pcit (1) 203, Ck Campus Aaykar Bhawan Bahadarpur Road Vs. Indore Burhanpur (Appellant / Assessee) (Respondent/ Revenue) Pan: Adapa0131B Assessee By Shri S.N. Agrawal & Pankaj Mogra, Ars Revenue By Shri Ram Kumar Yadav, Cit-Dr Date Of Hearing 20.08.2024 Date Of Pronouncement 29.08.2024

96,669/- and Rs. 1,15,79,071/- respectively thereon, totaling to Rs. 3,57,33,333/-. It is observed from the contract notes of Xpro Securities and other share broking firm that the assessee immediately after/before earning capital gain, get short term capital loss within few days which clearly shows that the capital loss was manipulated to reduce

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

gain under section 10(38) of the Act can be made in the absence of any incriminating material found during the course of search. These submissions and case laws referred to by the assessee are reproduced by the ld.CIT(A) in his impugned order. The ld.CIT(A) after considering detailed submissions of the assessee and case laws cited

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

gain under section 10(38) of the Act can be made in the absence of any incriminating material found during the course of search. These submissions and case laws referred to by the assessee are reproduced by the ld.CIT(A) in his impugned order. The ld.CIT(A) after considering detailed submissions of the assessee and case laws cited

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

gain under section 10(38) of the Act can be made in the absence of any incriminating material found during the course of search. These submissions and case laws referred to by the assessee are reproduced by the ld.CIT(A) in his impugned order. The ld.CIT(A) after considering detailed submissions of the assessee and case laws cited

SHRI LAV NARANG,UJJAIN vs. PCIT,, UJJAIN

Bench: Shri Mahavir Prasad & Shri Manish Boradvirtual Hearing Assessment Year: 2015-16

96,81,297/- whereas the turnover declared by the assessee was Rs.8,08,21,143/-. Assessee declared net profit @ 5% on the total turnover at Rs.40,39,907/-. Ld. AO finalized the assessment estimating net profit @10% on the gross receipt shown Shri Lav Nagrang by the assessee at Rs.8,08,21,143/-. Income assessed at Rs.8

M/S PARTH DEVELOPERS,DHAR vs. THE PCIT -1, INDORER

In the result, appeal of assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S. Parth Developers Pr. Cit-1 Manawar Dist. Indore Vs. Dhar (Appellant / Assessee) (Respondent/ Revenue) Pan: Aalfp 4509 N Assessee By Shri Milind Wadhwani, Ar Revenue By Shri P.K. Mishra, Cit-Dr Date Of Hearing 22.06.2023 Date Of Pronouncement 28.07.2023

96 taxmann.com 547 (ITAT, Indore) and Trident Estate P. Ltd. vs. ITO 127 taxmann.com 360 (ITAT, Bom). Ld. AR has further submitted that the deferment of tax as result of method is regularly and consistently employed by the assesse is not viewed adversely by Hon’ble Bombay High Court as well as Hon’ble Supreme court in case

RITESH BANSAL,KHAJURI BAZAR, INDORE vs. PCIT, INDORE-1, AAYAKAR BHAWAN, OPP. WHITE CHURCH, WHITE CHURCH ROAD, RESIDENCY AREA, INDORE

Bench: Shri B.M. Biyani & Shri Dinesh Mohan Sinhaassessment Year:2014-15 Ritesh Bansal, Pr. Cit-1, G-16, Ganesh Complex Indore बनाम/ Khajuri Bazar, Vs. Indore (Assessee/Appellant) (Revenue/Respondent) Pan: Acipb4025C Assessee By Shri Kunal Agrawal & Harshit Chowkse, Ars Revenue By Shri Ram Kumar Yadav, Cit-Dr Date Of Hearing 17.12.2024 Date Of Pronouncement 31.01.2025

Capital Gain arising out of sale of shares of Penny Stocks (Kappac Pharma Ltd.). Statement of Shri Rakesh Bansal brother of Shri Manish Bansal, also revealed that all the trading had been done by Shri Manish Bansal. Shri Manish Bansal, himself accepted in his statement that he on behalf of his mother Smt Manorma Devi Bansal, brothers Shri Ritesh Bansal