M/S. MADHURI REFINERS (P) LTD.,INDORE vs. DCIT-3(1), INDORE

In the result, this appeal of assessee is allowed

Bench: Ms. Madhumita Roy & Shri B.M. Biyani(Conducted Through Virtual Court) Assessment Year: 2015-16 M/S. Madhuri Refiners Dcit, 3(1) Private Ltd., Indore Indore Vs. (Appellant / Assessee) (Respondent/ Revenue) Pan: Aabcm 1884 C Assessee By Shri Pankaj Shah, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 12.09.2022 Date Of Pronouncement 21.09.2022 O R D E R Per B.M. Biyani, A.M.:

section 2(29BA) of the Income Tax Act, 1961.” 2. Brief facts are such that the assessee-company filed return of income on 30.09.2015 declaring a loss of Rs. 39,72,580/-. The case was selected for scrutiny and statutory notices u/s 143(2)/142(1) were issued, which were duly complied with. During assessment proceeding, Ld. AO observed that

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

29 TPO the draft Assessment Order was passed on 20.03.2015 thereby proposing total addition of Rs.218,63,79,685/-. The addition of Rs.212,56,79,027/- was made on account of the upward adjustment for software services by the TPO and addition of Rs.6,07,00,658/- was made for disallowance under Section 14A of the Act as per Rule

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

29 TPO the draft Assessment Order was passed on 20.03.2015 thereby proposing total addition of Rs.218,63,79,685/-. The addition of Rs.212,56,79,027/- was made on account of the upward adjustment for software services by the TPO and addition of Rs.6,07,00,658/- was made for disallowance under Section 14A of the Act as per Rule

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

29 TPO the draft Assessment Order was passed on 20.03.2015 thereby proposing total addition of Rs.218,63,79,685/-. The addition of Rs.212,56,79,027/- was made on account of the upward adjustment for software services by the TPO and addition of Rs.6,07,00,658/- was made for disallowance under Section 14A of the Act as per Rule

RNG CONSTRUCTION CO,MANDIDEEP vs. ADDL.,JT.,DY.,ASSTT.ITO, BHOPAL

Appeal is allowed

section 147, a notice u/s 148 was issued\nby the Assessing Officer on 20.03.2020 recording the following reasons:\n\"From the records, it was observed that as per column no.\n26(i)B(b) of the 3CD report, the assessee has not\npaid/deposited ESIC/EPF/Service Tax aggregating to Rs.\n10,62,939/- on or before the date of filing of return

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

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

29,555/- is a sham transaction, by applying test of human probability, without any evidence against the assessee, which is quite unjust, illegal and against the facts of the case. 3. That the learned CIT(A) has erred in considering the script from which the assessee has earned Long Term Capital Gain as “penny stock”, a term nowhere define under

SAPAN SHAH,INDORE vs. ACIT-4(I), INDORE

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

29,555/- is a sham transaction, by applying test of human probability, without any evidence against the assessee, which is quite unjust, illegal and against the facts of the case. 3. That the learned CIT(A) has erred in considering the script from which the assessee has earned Long Term Capital Gain as “penny stock”, a term nowhere define under

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

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

29,555/- is a sham transaction, by applying test of human probability, without any evidence against the assessee, which is quite unjust, illegal and against the facts of the case. 3. That the learned CIT(A) has erred in considering the script from which the assessee has earned Long Term Capital Gain as “penny stock”, a term nowhere define under

DARSHAN KUMAR PAHWA,INDORE vs. DCIT CIRCLE5(1), INDORE

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

29,555/- is a sham transaction, by applying test of human probability, without any evidence against the assessee, which is quite unjust, illegal and against the facts of the case. 3. That the learned CIT(A) has erred in considering the script from which the assessee has earned Long Term Capital Gain as “penny stock”, a term nowhere define under

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

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

29,555/- is a sham transaction, by applying test of human probability, without any evidence against the assessee, which is quite unjust, illegal and against the facts of the case. 3. That the learned CIT(A) has erred in considering the script from which the assessee has earned Long Term Capital Gain as “penny stock”, a term nowhere define under

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

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

29,555/- is a sham transaction, by applying test of human probability, without any evidence against the assessee, which is quite unjust, illegal and against the facts of the case. 3. That the learned CIT(A) has erred in considering the script from which the assessee has earned Long Term Capital Gain as “penny stock”, a term nowhere define under

ACIT-5(1), INDORE vs. S T I INDIA LTD., INDORE

Appeals are disposed of as under:

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

29 STI India Ltd. ITA Nos.11, 850, 12, 13/Ind/2019 & 22, 784, 23 & 24/Ind/2019 (A.Y.2012-13 to 2015-16) situation where the bank has “indirectly” met the cost of asset, if not directly. Therefore, according to him, the lower authorities have rightly disallowed depreciation to assessee. 19. We have considered rival submissions of both sides and perused the provisions of section

ACIT-5(1), INDORE vs. S T I INDIA LTD., INDORE

Appeals are disposed of as under:

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

29 STI India Ltd. ITA Nos.11, 850, 12, 13/Ind/2019 & 22, 784, 23 & 24/Ind/2019 (A.Y.2012-13 to 2015-16) situation where the bank has “indirectly” met the cost of asset, if not directly. Therefore, according to him, the lower authorities have rightly disallowed depreciation to assessee. 19. We have considered rival submissions of both sides and perused the provisions of section

S T I INDIA LTD.,INDORE vs. ACIT-5(1), INDORE

Appeals are disposed of as under:

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

29 STI India Ltd. ITA Nos.11, 850, 12, 13/Ind/2019 & 22, 784, 23 & 24/Ind/2019 (A.Y.2012-13 to 2015-16) situation where the bank has “indirectly” met the cost of asset, if not directly. Therefore, according to him, the lower authorities have rightly disallowed depreciation to assessee. 19. We have considered rival submissions of both sides and perused the provisions of section

S T I INDIA LTD.,INDORE vs. ACIT-5(1), INDORE

Appeals are disposed of as under:

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

29 STI India Ltd. ITA Nos.11, 850, 12, 13/Ind/2019 & 22, 784, 23 & 24/Ind/2019 (A.Y.2012-13 to 2015-16) situation where the bank has “indirectly” met the cost of asset, if not directly. Therefore, according to him, the lower authorities have rightly disallowed depreciation to assessee. 19. We have considered rival submissions of both sides and perused the provisions of section

S T I INDIA LTD.,INDORE vs. ACIT-5(1), INDORE

Appeals are disposed of as under:

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

29 STI India Ltd. ITA Nos.11, 850, 12, 13/Ind/2019 & 22, 784, 23 & 24/Ind/2019 (A.Y.2012-13 to 2015-16) situation where the bank has “indirectly” met the cost of asset, if not directly. Therefore, according to him, the lower authorities have rightly disallowed depreciation to assessee. 19. We have considered rival submissions of both sides and perused the provisions of section

S T I INDIA LTD.,INDORE vs. ACIT-5(1), INDORE

Appeals are disposed of as under:

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

29 STI India Ltd. ITA Nos.11, 850, 12, 13/Ind/2019 & 22, 784, 23 & 24/Ind/2019 (A.Y.2012-13 to 2015-16) situation where the bank has “indirectly” met the cost of asset, if not directly. Therefore, according to him, the lower authorities have rightly disallowed depreciation to assessee. 19. We have considered rival submissions of both sides and perused the provisions of section

ACIT-5(1), INDORE vs. S T I INDIA LTD., INDORE

Appeals are disposed of as under:

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

29 STI India Ltd. ITA Nos.11, 850, 12, 13/Ind/2019 & 22, 784, 23 & 24/Ind/2019 (A.Y.2012-13 to 2015-16) situation where the bank has “indirectly” met the cost of asset, if not directly. Therefore, according to him, the lower authorities have rightly disallowed depreciation to assessee. 19. We have considered rival submissions of both sides and perused the provisions of section