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

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

capital gain on sale of shares. He failed to appreciate that the appellant did not earn long term gain but incurred business loss on trading in shares of VAS Infra. There was no evidence to show that the assessee has pre-arranged any profit/loss through these shares. The appellant has been carrying on business of dealing in shares treating such

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

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

capital gain on sale of shares. He failed to appreciate that the appellant did not earn long term gain but incurred business loss on trading in shares of VAS Infra. There was no evidence to show that the assessee has pre-arranged any profit/loss through these shares. The appellant has been carrying on business of dealing in shares treating such

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

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

capital gain on sale of shares. He failed to appreciate that the appellant did not earn long term gain but incurred business loss on trading in shares of VAS Infra. There was no evidence to show that the assessee has pre-arranged any profit/loss through these shares. The appellant has been carrying on business of dealing in shares treating such

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

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

capital gain on sale of shares. He failed to appreciate that the appellant did not earn long term gain but incurred business loss on trading in shares of VAS Infra. There was no evidence to show that the assessee has pre-arranged any profit/loss through these shares. The appellant has been carrying on business of dealing in shares treating such

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)

depreciation as the assessee carried out the activities of development of project as an investor and not as a builder. The Ld. CIT(A) further stated that 31 Mohanlal Chugh & others without bringing any corroborative evidence on record the profit of the project cannot be estimated @30%. The Ld. CIT(A) relied upon the decision of Hon’ble Supreme Court

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)

depreciation as the assessee carried out the activities of development of project as an investor and not as a builder. The Ld. CIT(A) further stated that 31 Mohanlal Chugh & others without bringing any corroborative evidence on record the profit of the project cannot be estimated @30%. The Ld. CIT(A) relied upon the decision of Hon’ble Supreme Court

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)

depreciation as the assessee carried out the activities of development of project as an investor and not as a builder. The Ld. CIT(A) further stated that 31 Mohanlal Chugh & others without bringing any corroborative evidence on record the profit of the project cannot be estimated @30%. The Ld. CIT(A) relied upon the decision of Hon’ble Supreme Court

JAYA JUNEJA,INDORE vs. INCOME TAX OFFICER WARD 1(4), INDORE

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Shri Siddhartha Nautiyal & Shri Bhagirath Mal Biyani

long-term capital gains by invoking section 50C of the Act, were examined by the CIT(Appeals) on merits. The Ld. CIT(A) noted that the Assessing Officer had rejected the assessee’s claim of construction on leasehold land due to absence of evidence regarding the timing of construction, that the assessee failed to substantiate the claim that part

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

Appeal is allowed

depreciation allowance or any other\nallowance, as the case may be, for the assessment year concerned\n(hereafter in this section and in sections 148 to 153 referred to as the\nrelevant assessment year).\"\nIt is submitted that \"Reasons to Believe\" that income chargeable to tax has escaped\nassessment is one of the conditions precedent for reopening of assessment

DEPUTY COMMISSIONER OF INCOME TAX - 3(1), INDORE vs. SHRI RAJEEV AJMERA, INDORE

In the result, the appeal of Revenue is partly allowed for statistical purposes

Bench: Ms.Suchitra Kamble & Shrib.M. Biyani(Conducted Through Virtual Court) Assessment Year: 2010-11 Dcit-3(1) Shri Rajeev Ajmera, Indore बनाम/ Indore Vs. (Appellant / Assessee) (Respondent / Revenue) Pan: Abgpa4930L Co No.23/Ind/2018 (Arising Out Of Ita No.51/Ind/2018) Assessment Year: 2010-11 Shri Rajeev Ajmera, Dcit-3(1) Indore Indore बनाम/ Vs. (Appellant / Assessee) (Respondent / Revenue) Pan: Abgpa4930L Assessee By Shri Mahendra Mittal, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 23.08.2022 Date Of Pronouncement 31.08.2022 आदेश/ O R D E R

term capital gain and computed taxable income on the basis of section 50C. When the Ld. AO confronted the assessee in this regard, the assessee made following submission: “The assessee is in property broker ship business since long and he also doing purchase/sale of immovable properties. The assessee has done similar type of transaction during the assessment year

SHREEPAL HUMAD,INDORE vs. THE PR CIT-1, INDORE

In the result, appeal of assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanishreepal Humad Pr. Cit-1 Near Civil Hospital, Bus Indore Vs. Stand Road, Manasa Madhya Pradesh (Appellant / Assessee) (Respondent/ Revenue) Pan: Aaxph1346 K Assessee By Shri Ashish Goyal & N.D. Patwa, Ars Revenue By Shri P.K. Mishra, Cit-Dr Date Of Hearing 13.04.2023 Date Of Pronouncement 21 .06.2023

gains, on account of transfer of long term capital asset which was in the name of M/s.Karpagam Studios. The notice indicates that the petitioners could not have claimed deduction under Section 54(F) of the Act. It has also stated Page 8 of 15 Shreepal Humad Page 9 of 15 that the date of completion as per the completion certificate

DCIT 1(1), INDORE vs. M/S MAA UMIYA AGRITECH PVT. LTD. , INDORE

In the result, appeal of Revenue is dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanidcit 1(1) M/S. Maa Umiya Agritech Pvt. Ltd. Indore 119, A.B. Road, Aloo Pyaj Mandi, Vs. Indore (Appellant / (Revenue) (Assessee) Pan: Aabcn8230F Revenue By Shri P.K. Mishra, Cit-Dr Respondent By Shri S.S. Solanki, Ar Date Of Hearing 11.04.2023 Date Of Pronouncement 08.06.2023

long term liabilities u/s 68 (as Rs.13,87,504/- discussed in para 4) (ii) On account of unexplained unsecured loans u/s 37,05,000/- 68 (as discussed in para 5) (iii) On account of unexplained creditor u/s 68 (as 3,79,83,402/- discussed in para 6) (iv)On account of unexplained cash deposit

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

depreciation adjustment claimed by the assessee. The Ld. AR submitted that the entire foreign exchange gain has accrued to the assessee during the relevant financial year and the same was solely because of the export proceeds in convertible foreign exchange and had direct nexus with the exports of the assessee. Thus, the foreign exchange gain must be considered as operating

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

depreciation adjustment claimed by the assessee. The Ld. AR submitted that the entire foreign exchange gain has accrued to the assessee during the relevant financial year and the same was solely because of the export proceeds in convertible foreign exchange and had direct nexus with the exports of the assessee. Thus, the foreign exchange gain must be considered as operating

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

depreciation adjustment claimed by the assessee. The Ld. AR submitted that the entire foreign exchange gain has accrued to the assessee during the relevant financial year and the same was solely because of the export proceeds in convertible foreign exchange and had direct nexus with the exports of the assessee. Thus, the foreign exchange gain must be considered as operating

SHRI DILIP BUILDCON LTD,BHOPAL vs. DCIT CENTRAL -1, BHOPAL

In the result, revenue’s appeal for A

Bench: Shri Rajpal Yadav Hon'Ble & Shri Manish Borad&

long term debt upto 20 per cent of the capital costs of the project. C:There are new restrictive conditions being added.Deduction u/s 80IA is allowable only in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructural development etc.The deduction u/s 80IA is not extended to "works contractors" . The amendment to section 80IA(4) has provided

DILIP BUILDCON LTD.,BHOPAL vs. DCIT (CENTRAL)-1, BHOPAL

In the result, revenue’s appeal for A

Bench: Shri Rajpal Yadav Hon'Ble & Shri Manish Borad&

long term debt upto 20 per cent of the capital costs of the project. C:There are new restrictive conditions being added.Deduction u/s 80IA is allowable only in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructural development etc.The deduction u/s 80IA is not extended to "works contractors" . The amendment to section 80IA(4) has provided

DILIP BUILDCON LTD.,BHOPAL vs. DCIT (CENTRAL)-1, BHOPAL

In the result, revenue’s appeal for A

Bench: Shri Rajpal Yadav Hon'Ble & Shri Manish Borad&

long term debt upto 20 per cent of the capital costs of the project. C:There are new restrictive conditions being added.Deduction u/s 80IA is allowable only in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructural development etc.The deduction u/s 80IA is not extended to "works contractors" . The amendment to section 80IA(4) has provided