DCIT 3 (1), BHOPAL vs. M/S NARMADA SWITCHGEAR P LTD , BHOPAL

Accordingly, this ground is also dismissed

Bench: Shri Chandra Mohan Garg & Shri B.M. Biyaniassessment Year: 2013-14 Dcit-3(1) M/S Narmada Switchgear Bhopal Pvt. Ltd., बनाम/ Plot No.3, Industrial Estate, Govindpura Vs. Bhopal (Appellant / Assessee) (Respondent / Revenue) Pan: Aabcn0635N Assessee By Shri S.S. Deshpande, Ca Revenue By Shri P.K. Mishra, Cit-Dr Date Of Hearing 09.11.2022 Date Of Pronouncement 03.02.2023

202/- to the total income of the appellant. 5.1 The appellant submitted that the Ld. A.O. has compared the percentage increase in expenses with the previous year. This is not correct method. It should be compared in relation to sales. It was explained to the Ld. A.O. that the appellant had been passing through a lean phase in past

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

section 145(3) of the Act. He accordingly reversed the action of the AO in rejecting the books of accounts of the assessee by holding that the AO was not correct in rejecting the books of accounts. Thereafter, the ld.CIT(A) deleted additions made on account of estimation of gross profit in the transactions of sale of gold and silver

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

section 145(3) of the Act. He accordingly reversed the action of the AO in rejecting the books of accounts of the assessee by holding that the AO was not correct in rejecting the books of accounts. Thereafter, the ld.CIT(A) deleted additions made on account of estimation of gross profit in the transactions of sale of gold and silver

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

section 145(3) of the Act. He accordingly reversed the action of the AO in rejecting the books of accounts of the assessee by holding that the AO was not correct in rejecting the books of accounts. Thereafter, the ld.CIT(A) deleted additions made on account of estimation of gross profit in the transactions of sale of gold and silver

GOURAV BHARGAVA,BHOPAL vs. ADDL/JCIT(A)-1 DELHI, DELHI

Appeal is partly allowed

section 43B. However, the\nassessee has filed additional evidences in the form of (i) Statement of\nworking of bonus payable at Pages 225 to 226 of Paper-Book, (ii) Statement\nof datewise payments made to employees at Pages 70 to 72 of Paper-Book,\n(iii) Payment-Vouchers duly acknowledged by respective employees at Pages\n73 to 202 of Paper

THE DCIT CIRCLE 5(1), BHOPAL vs. M/S L N MALVIYA INFRA PROJECTS P LTD, BHOPAL

In the result, appeal of the revenue is partly allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanidcit, Circle 5(1) M/S. L.N. Malviya Infra Projects Bhopal Pvt. Ltd. Plot No.29, F/F Sector, Dwarka Vs. New Delhi

Section 37(1) of the IT Act, 1961 Business expenditure allowability of [onus to prove]. In course of assessment, assessee claimed deduction of expenses towards bricks, machinery repair, cartage, labour expenses etc. Assessing Officer disallowed 10 percent of said expenses on ground that insufficient evidence was adduced. Tribunal set- aside said ad-hoc disallowance on two grounds, firstly assessee

THE ACIT, CENTRAL-2, INDORE vs. M/S. LIFE STYLE INFRATECH PVT. LTD., INDORE

Bench: Ms. Suchitra Raghunath Kamble & Shri B.M. Biyani

disallowance of deduction u/s 80IB(10) of the Act is to be made only on the units which fail to comply with the conditions laid out u/s 80IB(10) of the Act which, in the instant case, relates to few flats and row houses, which were not able to satisfy the provisions of section 80IB

ACIT-1(1), INDORE vs. KRITI NUTRIENTS LIMITED, INDORE

The appeal of the Revenue is allowed for statistical\npurposes

Section 1448 of the Act was passed on 19.12.2022\ndetermining total income at Rs.47,59,29,192/-thereby addition of\nRs.26.65 crores as under\na) By application of average gross profit rate of 7.20 percent on\nTurnover Rs. 16,77,57,242/-1\nb) Disallowance of foreign currency fluctuation loss. Rs. 60,63,000/-\nc) Disallowance out of traveling

ASSISTANT COMMISSIONER OF INCOME TAX, INDORE vs. COMMANDER INDUSTRIES PRIVATE LIMITED, INDORE

In the result, the appeal of the revenue and CO of assessee are dismissed

disallowance of depreciation on such goodwill hampers the tax neutrality.\ng. In respect of the contention of the AO that the goodwill had NIL value in the books of the amalgamating companies, the same cannot be valued differently in the books of amalgamated company for the purpose of claiming depreciation; the appellant has submitted that as per the accounting standards

MAHENDRA SINGH CHAWLA,INDORE vs. DCIT CIRCLE-1(1), INDORE

In the result, the appeal of the assessee is dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanimahendra Singh Chawla Dcit Circle -1(1) 4/35 Gram Pigdamber A.B. Indore Road Near Rao Vs. Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Aazpc0120C Assessee By None Shri Ashish Porwal, Sr. Dr Revenue By Date Of Hearing 02.09.2024 Date Of Pronouncement 04 .09.2024

202(Kar.). It was held by High Court of Karnataka that as the possession of the property was handed over to developer, also some sum was received by the owner, so capital gain should be taxed in the year of entering in to agreement. Dr. Maya Shenoy v. Asst. CIT [2009] 124TTJ (Hyd.) The assessee entered into agreement with

ASSISTANT COMMISSIONER OF INCOME TAX (CENTRAL)-1, INDORE vs. SHRI RITESH JAIN, INDORE

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani & It(Ss)Ano.14/Ind/2022 (Assesssment Year 2011-12

Disallowances/ Additions Amount (in Rs.) Page 39 of 116 ITANo.794/Ind/2018 & IT(SS)A No.14 & 07/Ind/2022 Ritesh Jain & M.P. Agro Nutri Food Ltd. 1 Addition on account of unsecured 3,40,00,000/- loan being accommodation entry taken in the company M/s. M.P. Agro Nutri Foods Ltd. 2 Addition on account of undisclosed 30,60,000/- interest income being

THE I.T.O. 2 (1), INDORE vs. M/S HI LINK BUILDCON P LTD , INDORE

In the result, this appeal of revenue is partly allowed for statistical purpose

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani(Conducted Through Virtual Court) Assessment Year: 2012-13 Ito, 2(1) M/S. Hi Link Buildcon Pvt. Indore Ltd. बनाम/ 06, Sadhna Nagar, Vs. Airport Road, Indore (Appellant / Revenue) (Respondent / Assessee) Pan: Aacch7180H Assessee By Shri Milind Wadhwani & Shri Pankaj Shah, Ars Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 23.08.2022 Date Of Pronouncement 19.09.2022

202-A, Sam Rock Apartment chs ltd. C.D. Barfiwala Lane, Andheri(W) Mumbai City MH 400058 IN 6.7.1 The appellant has stated that lender company was having experience of more than a decade in providing tailor made finance to individuals and corporates. The appellant has further argued that the lender company belonged to the same industry which as having investment

M/S LIFE CARE INTERNATIONAL,INDORE vs. ACIT-3,(1) , INDORE, INDORE

Bench: Hon’Ble Rajpal Yadav & Hon’Ble Manish Boradvirtual Hearing

disallowance of prior period interest. 9. As regards the issue of unexplained cash credit u/s 68 of the Act for Rs.2.70 cr. Ld. Counsel for the assessee submitted that the alleged loan of Rs.2.70 cr was taken from following five companies: 6 Life Care International ITA No.335 to 337/Ind/2018 S.No Name of the Loan creditors PA No Amount

M/S LIFE CARE INTERNATIONAL,INDORE vs. ACIT-3,(1) , INDORE, INDORE

Bench: Hon’Ble Rajpal Yadav & Hon’Ble Manish Boradvirtual Hearing

disallowance of prior period interest. 9. As regards the issue of unexplained cash credit u/s 68 of the Act for Rs.2.70 cr. Ld. Counsel for the assessee submitted that the alleged loan of Rs.2.70 cr was taken from following five companies: 6 Life Care International ITA No.335 to 337/Ind/2018 S.No Name of the Loan creditors PA No Amount

M/S LIFE CARE INTERNATIONAL,INDORE vs. JCIT-3, INDORE, INDORE

Bench: Hon’Ble Rajpal Yadav & Hon’Ble Manish Boradvirtual Hearing

disallowance of prior period interest. 9. As regards the issue of unexplained cash credit u/s 68 of the Act for Rs.2.70 cr. Ld. Counsel for the assessee submitted that the alleged loan of Rs.2.70 cr was taken from following five companies: 6 Life Care International ITA No.335 to 337/Ind/2018 S.No Name of the Loan creditors PA No Amount

SMT MANGLA BANGUR,UJJAIN vs. ACIT,CENTRAL, UJJAIN

In the result, this appeal of assessee is dismissed

Bench: Shri Mahvir Prasad & Shri B.M. Biyani

disallowance of deduction of Rs. 2,06,754/- on account of expenditure on education cess, secondary and higher education cess. 4. Being aggrieved by order of Ld. CIT(A), the assessee has filed this appeal before us, on following grounds: “1. That, the learned CIT(A) grossly erred, both on facts and in Page 2 of 8 Smt. Mangla Bangur