THE ACIT-3(1), INDORE vs. M/S. NMI INDUSTRIES PVT. LTD., INDORE

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year 2010-11 M/S. Nmi Industries Pvt. Ito-4(1) Ltd, Vs. Indore 314 Bhagirathpura, Indore (Appellant) (Respondent ) Pan No.Aabcn9571B Assessment Year 2010-2011

211 of the 76d[Companies Act, 1956 (1 of 1956)] is applicable, shall, for the purposes of this section, prepare its 76e[statement of profit and loss] for the relevant previous year in accordance with the provisions of the Act governing such company: Provided that while preparing the annual accounts including 76e[statement of profit and loss],— (i) the accounting

SRK DEV BUILD PVT LTD.,INDORE vs. DCIT/ACIT 5(1), INDORE

Appeal is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2016-17 Srk Dev Build Pvt. Ltd, Dcit/Acit-5(1) 18/2, Lasudia Mori, Indore बनाम/ A.B. Road, Vs. Indore (Assessee/Appellant) (Revenue/Respondent) Pan: Aaqcs3387P Assessee By Shri Pranay Goyal & S.N. Goyal, Cas Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 15.04.2024 Date Of Pronouncement 20.06.2024

depreciation and interest expenses and it is not a case of AO that the assessee has supplied any incorrect or erroneous or false detail in the return or during assessment-proceeding. Therefore, in such a situation, where is the furnishing of inaccurate particulars or even concealment of particulars of income and how section 271(1)(c) could be invoked

TURNING POINT ESTATES P LTD ,INDORE vs. THE ACIT 5(1), INDORE

In the result, appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniturning Point Estates Pvt. Ltd. Acit 5(1) 6Th Floor, Treasure Island, 11 Indore Vs Tukoganj Main Road . Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Aacct 7457 R Assessee By Shri Manjeet Sachdeva & Avinash Gaur, Ars Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 05.04.2023 Date Of Pronouncement 10.04.2023

section 271(1)(c) of the Income Tax Act. 05. That the penalty levied is not based on the facts of the case and needs to be deleted. 06. That the assessee company craves leave to add, alter, amend and/or delete any of the grounds of appeal. 2. The assesse is a Private Limited Company and engaged in the business

ASSISTANT COMMISSIONER OF INCOME TAX, RATLAM vs. SHRI SURESH CHAND JAIN, MEGHNAGAR DIST. JHABUA

In the result, the appeal filed by the revenue for A

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani & Acit 5(1) Shri Suresh Chand Jain Indore 99, Thandla Road, Vs. Meghnagar,Jhabua (Appellant / Revenue) (Respondent/ Assessee) Pan:Aezpj 2697F Revenue By Shri P.K. Mishra, Cit-Dr Respondent By None Date Of Hearing 09.08.2023 Date Of Pronouncement 12 .09.2023

section 194C are not applicable. Accordingly we do not find any error or illegality in the impugned order of the Ld. CIT(A) qua this issue. 9. Ground no.4 is regarding the disallowance of interest from loan to relatives. 9.1 Ld. DR has submitted that the assesse has given interest free loan/advances of Rs.76,93,211/- to relatives

ASSISTANT COMMISSIONER OF INCOME TAX, RATLAM, RATLAM vs. SHRI SURESH CHAND JAIN, JHABUA

In the result, the appeal filed by the revenue for A

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani & Acit 5(1) Shri Suresh Chand Jain Indore 99, Thandla Road, Vs. Meghnagar,Jhabua (Appellant / Revenue) (Respondent/ Assessee) Pan:Aezpj 2697F Revenue By Shri P.K. Mishra, Cit-Dr Respondent By None Date Of Hearing 09.08.2023 Date Of Pronouncement 12 .09.2023

section 194C are not applicable. Accordingly we do not find any error or illegality in the impugned order of the Ld. CIT(A) qua this issue. 9. Ground no.4 is regarding the disallowance of interest from loan to relatives. 9.1 Ld. DR has submitted that the assesse has given interest free loan/advances of Rs.76,93,211/- to relatives

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

211 (Mad Income-tax Officer, Ward- VII(2), Chennai During relevant year, assessee made cash payments to suppliers of crackers _ Without examining details "f expenditure involved, Assessing Officer allowed said payments - Commissioner found that assessee had made cash payments in excess of Rs. 20,000 to some suppliers on day-today basis _ He thus passed a revisional order disallowing said

M/S RADHISHWARI DEVLOPERS P LTD,INDORE vs. PR CIT -2 INDORE, INDORE

In the result, Assessee’s appeal in ITANo

Bench: Hon’Ble Rajpal Yadav & Hon’Ble Manish Boradvirtual Hearing Assessment Year 2013-14 M/S. Radhishwari Developers P. Ltd. (Now Known As R.C. Warehousing Pvt. Ltd. ) Indore : Appellant Pan :Aafcr1916A V/S Pr. Cito-2 : Respondent Indore Appellant By S/Shri Sumit Nema Sr. Adv. With Gagan Tiwari & Piyush Parashar Advs. Revenue By Shri S.S. Mantri, Cit-Dr Date Of Hearing 24.05.2021 Date Of Pronouncement 20.07.2021

depreciation at Rs.1,53,066/- to be carry forward for set up in subsequent years. 3. After passing of the assessment order u/s 143(3) of the Act, Ld. Pr. CIT examined the assessment records and documents filed by the assessee and notice that the M/s. Radheshwari Developers Pvt. Ltd. assessment order is prima facie, erroneous and prejudicial

M/S CUMMINS TECHNOLOGIES INDIA PRIVATE LIMITED,DEWAS vs. THE ACIT CIRCLE 1(1), UJJAIN

In the result, appeal of assessee is partly allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanicummins Technologies Acit Circle -1(1) India Pvt. Ltd. Ujjain Industrial Area No.2 A.B. Vs. Road Industrial Area Dewas (Appellant / Assessee) (Respondent/ Revenue) Pan: Aabct2018B Assessee By Shri Ketan K. Ved. Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 10.07.2023 Date Of Pronouncement 25.08.2023

depreciation allowance or any other allowance under this Act has been computed." 15- In light of the aforesaid statutory provision, in the present case, notice has been served within six years from the end of the relevant assessment year and the tax effect is in crores of rupees and therefore, the Assessing Officer was justified in initiating proceedings

M/S INDORE PARASPAR SAHKARI BANK LTD. ,INDORE vs. INCOME TAX OFFICER -2 (5) , INDORE

In the result this common issue is decided in favour of the assessee and the relevant grounds raised in Assessment Year 2008-09 to Assessment Year 2012-13 in I

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

depreciation on securities is not allowable. During the course of the assessment proceedings in first round a specific query was raised about the allowability of the deduction and a complete explanations was given along with the Circulars of the Reserve Bank of India. The Accounting Standards were also provided. After considering all the submissions the claim was allowed

M/S. INDORE PARASPAR SAHAKARI BANK LTD.,INDORE vs. ACIT-I(I), INDORE

In the result this common issue is decided in favour of the assessee and the relevant grounds raised in Assessment Year 2008-09 to Assessment Year 2012-13 in I

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

depreciation on securities is not allowable. During the course of the assessment proceedings in first round a specific query was raised about the allowability of the deduction and a complete explanations was given along with the Circulars of the Reserve Bank of India. The Accounting Standards were also provided. After considering all the submissions the claim was allowed

MH BROTHERS ,RAISEN vs. THE ITO , RAISEN

In the result, appeals filed by the assessee for A

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Depreciation on Car be held to be bad and unjustified and be deleted. Ground.5. That the disallowance of Rs.31,095/- out of Tanker Repairs & Maintenance be held to be bad and unjustified and be deleted. Ground.6. That the disallowance of Rs.27,510/- out of Repairs & Maintenance be held to be bad and unjustified and be deleted. Ground.7 That the disallowance

MH BROTHERS ,RAISEN vs. THE ITO , RAISEN

In the result, appeals filed by the assessee for A

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Depreciation on Car be held to be bad and unjustified and be deleted. Ground.5. That the disallowance of Rs.31,095/- out of Tanker Repairs & Maintenance be held to be bad and unjustified and be deleted. Ground.6. That the disallowance of Rs.27,510/- out of Repairs & Maintenance be held to be bad and unjustified and be deleted. Ground.7 That the disallowance

SHRI GOPAL SONI,MANDSAUR vs. ADDLL. CIT , RATLAM

In the result appeal of the assessee for Assessment Years 2000-01 is

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

depreciation at fixed assets total income at Rs.1095/- and Rs.2,68,498/- has been offered to tax for Assessment Year 2001-02 and 2002-03 respectively. Ld. A.O while conducting the assessment proceedings made specific observations that various incriminating material including loose papers 15 Gopala Krishna Soni ITA No.712 to 714/Ind/2017 and slips containing transactions of purchases, sale, expenses, detail

SHRI GOPAL KRISHNA SONI,MANDSAUR vs. ASSTT.COMMISSIONER OF INCOME TAX, RATLAM

In the result appeal of the assessee for Assessment Years 2000-01 is

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

depreciation at fixed assets total income at Rs.1095/- and Rs.2,68,498/- has been offered to tax for Assessment Year 2001-02 and 2002-03 respectively. Ld. A.O while conducting the assessment proceedings made specific observations that various incriminating material including loose papers 15 Gopala Krishna Soni ITA No.712 to 714/Ind/2017 and slips containing transactions of purchases, sale, expenses, detail

SHRI GOPAL KRISHNA SONI,MANDSAUR vs. COMMISSIONER OF INCO ME-TAX , RATLAM

In the result appeal of the assessee for Assessment Years 2000-01 is

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

depreciation at fixed assets total income at Rs.1095/- and Rs.2,68,498/- has been offered to tax for Assessment Year 2001-02 and 2002-03 respectively. Ld. A.O while conducting the assessment proceedings made specific observations that various incriminating material including loose papers 15 Gopala Krishna Soni ITA No.712 to 714/Ind/2017 and slips containing transactions of purchases, sale, expenses, detail

M/S. S.R. FERRO ALLOYS,JHABUA vs. THE PCIT, BHOPAL

In the result, the appeal of assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanis.R. Ferro Alloys Pr. Cit, Central 9, Siddheswar Colony Bhopal Vs. Jhabua (Appellant / Assessee) (Revenue) Pan: Abhfs7377Q Appellant By Shri Sumit Nema, Sr. Adv. & Gagan Tiwari, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 12.10.2023 Date Of Pronouncement 09.11.2023

depreciation by the AO in the scrutiny assessment of the lender company would not epso facto lead to the conclusion that the transactions of loan between the lender company and assesse is not genuine. The Pr. CIT has not even verified the balance sheet and bank account statement of the lender company to come to prima facie conclusion that

THE ACIT CIRCLE,RATLAM vs. M/S. MAHALAXMI INVESTMENT AND TRADING PVT. LTD., RATLAM

Bench: Shri Manish Borad & Miss Madhumita Roy

depreciation for the A.Y. 2002-03. 6. On the facts and in the circumstances of the case the Id. CIT is erred in allowing deduction u/s 80IB which was available only for the undertakings started their production before 31-03-2002, while in Form No 10CCB of audit report the date of 11/03/2003 has been mentioned as starting date

THE ACIT, CIRCLE, RATLAM vs. M/S. MAHALAXMI INVESTMENT AND TRADING PVT. LTD., RATLAM

Bench: Shri Manish Borad & Miss Madhumita Roy

depreciation for the A.Y. 2002-03. 6. On the facts and in the circumstances of the case the Id. CIT is erred in allowing deduction u/s 80IB which was available only for the undertakings started their production before 31-03-2002, while in Form No 10CCB of audit report the date of 11/03/2003 has been mentioned as starting date