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

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 2008-09. He booked a flat for Rs.23,00,000/- in the assessment

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

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 of the sale consideration was offered

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)

50C which works out to 18.34%. Further, the assessee and co-owner have not claimed any other administrations expenses, financial expenses or depreciation as the assessee carried out the activities of development of project as an investor and not as a builder. The Ld. CIT(A) also noted that without bringing any corroborative evidence on record the profit

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)

50C which works out to 18.34%. Further, the assessee and co-owner have not claimed any other administrations expenses, financial expenses or depreciation as the assessee carried out the activities of development of project as an investor and not as a builder. The Ld. CIT(A) also noted that without bringing any corroborative evidence on record the profit

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)

50C which works out to 18.34%. Further, the assessee and co-owner have not claimed any other administrations expenses, financial expenses or depreciation as the assessee carried out the activities of development of project as an investor and not as a builder. The Ld. CIT(A) also noted that without bringing any corroborative evidence on record the profit

SHRI BHAGWANDAS BAHETI,NEEMUCH vs. THE ITO, NEEMUCH

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

depreciation at Rs.1,59,000/- . 6. The Ld. AO and Ld CIT has erred in not considering the facts of conversion of the land into stock in trade without any basis. Your appellant has converted the said land into stock in trade and planned for construction shops and applied to respective agencies for necessary permissions, therefore provisions 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

depreciation. [PB 18] b. The Government Approved Valuer personally inspected the property on 15.01.2016 and made the valuation on 15.01.2016 as noted in his valuation report. [Clause 2 of Part I and clause (c ) of Part III at PB 13 and 15] c. Cost of construction – Clause 41 – Year of commencement and year of completion