THE DCIT-3(1), INDORE vs. M/S. M.P. ENTERTAINMENT & DEVELOPERS PVT. LTD., INDORE

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

Section 23 of the Act by the Ld. AO is bad in law and thus liable to be quashed in the present facts and circumstances of the case. Hence, the order passed by the Ld. CIT(A) as above is according to us is just and proper so as to warrant interference. With the above observations, we conclude that

DEPUTY COMMISSIONER OF INCOME TAX -3 (1), INDORE vs. M/S M.P. ENTERTAINMENT AND DEVELOPERS PRIVATE LIMITED, INDORE

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

Section 23 of the Act by the Ld. AO is bad in law and thus liable to be quashed in the present facts and circumstances of the case. Hence, the order passed by the Ld. CIT(A) as above is according to us is just and proper so as to warrant interference. With the above observations, we conclude that

THE ADDL. CIT RANGE -1, INDORE vs. M/S PRAKASH OILS LTD., DHAR

In the result, the above captioned appeals filed by the Revenue as well as the

Bench: Shri C.M. Garg & Shri Bhagirath Mal Biyani

section 147 of the Act and, thereafter, concluded that the losses obtained by the assessee on NMCE platform were contrived CO Nos.2 to 4/Ind/2022 losses and those losses were incurred by executing the synchronized trades dealing in illiquid commodities only. He also alleged that the losses were incurred with a specific intention to reduce taxable income by setting

THE ACIT ,CENTRAL-1, INDORE vs. M/S PRAKASH OILS LTD., DHAR

In the result, the above captioned appeals filed by the Revenue as well as the

Bench: Shri C.M. Garg & Shri Bhagirath Mal Biyani

section 147 of the Act and, thereafter, concluded that the losses obtained by the assessee on NMCE platform were contrived CO Nos.2 to 4/Ind/2022 losses and those losses were incurred by executing the synchronized trades dealing in illiquid commodities only. He also alleged that the losses were incurred with a specific intention to reduce taxable income by setting

THE ACIT,CENTRAL-1, INDORE vs. M/S PRAKASH OILS LTD., DHAR

In the result, the above captioned appeals filed by the Revenue as well as the

Bench: Shri C.M. Garg & Shri Bhagirath Mal Biyani

section 147 of the Act and, thereafter, concluded that the losses obtained by the assessee on NMCE platform were contrived CO Nos.2 to 4/Ind/2022 losses and those losses were incurred by executing the synchronized trades dealing in illiquid commodities only. He also alleged that the losses were incurred with a specific intention to reduce taxable income by setting

THE ACIT, CIRCLE 2(1), INDORE vs. M/S SURYA INFRA VENTURE PVT. LTD., INDORE

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

23,136 4 Disallowance under Section 40A(3) of the 8,12,755 Act 5 Employee remuneration and benefit 18,91,316 6 Disallowance

THE AIT,ENTRAL-1, INDORE vs. SURYA INFRAVENTURE P LTD, INDORE

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

23,136 4 Disallowance under Section 40A(3) of the 8,12,755 Act 5 Employee remuneration and benefit 18,91,316 6 Disallowance

THE ACIT, CENTRAL-1, INDORE vs. M/S SURYA INFRA VENTURE PVT. LTD., INDORE

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

23,136 4 Disallowance under Section 40A(3) of the 8,12,755 Act 5 Employee remuneration and benefit 18,91,316 6 Disallowance

INFOBEANS TECHNOLOGIES LIMITED,INDORE, M.P. vs. THE PRINCIPAL COMMISSIONER OF INCOME-TAX, INDORE - 1, INDORE, M.P.

In the result, the appeal filed by the assessee is dismissed being devoid of

Bench: Sh. Bhagirath Mal Biyani & Sh. Udayan Dasgupta

section 14(2A) , prior to working out disallowance as per Rule 8D of the Rules 62 . 23. The Ld AR rested

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

23. The Ld. DR submitted that for earning investment of Rs.18,65,61,000/- the assessee has suo moto disallowed such amount of Rs.20,37,506/-. In fact, the current investments were Rs.14,11,59,91,000/- and for such exorbitant investment the assesses has not invoked the disallowance under 14A read with Rule 8D. Therefore, the Assessing Officer

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

23. The Ld. DR submitted that for earning investment of Rs.18,65,61,000/- the assessee has suo moto disallowed such amount of Rs.20,37,506/-. In fact, the current investments were Rs.14,11,59,91,000/- and for such exorbitant investment the assesses has not invoked the disallowance under 14A read with Rule 8D. Therefore, the Assessing Officer

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

23. The Ld. DR submitted that for earning investment of Rs.18,65,61,000/- the assessee has suo moto disallowed such amount of Rs.20,37,506/-. In fact, the current investments were Rs.14,11,59,91,000/- and for such exorbitant investment the assesses has not invoked the disallowance under 14A read with Rule 8D. Therefore, the Assessing Officer

M/S RAJIV GANDHI PROUDYOGIK VISHWAVIDHALYA,HOSANGABAD vs. DCIT CPC, BENGALURU

In the result, the appeal of the assessee in I

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 324 & 325/Ind/2018 "नधा"रणवष" / Assessment Years: 2014-15 & 2015-16 M/S. Rajiv Gandhi Proudyogiki Vs. Dcit, Vishwavidyalaya, Cpc, Bhopal Bangaluru

disallowed by the A.O. The view of A.O. was confirmed by CIT(A), ITAT and HC. While dealing with the issue of allowability of exemption under relevant section, Hon'ble Apex Court has beautifully analysed and adjudicated one of the twin conditions, which is found common in all the three sub sections, 10(23C)(iiiab),(iiiad)and vi. The question

M/S RAJIV GANDHI PROUDYOGIK VISHWAVIDHALYA,HOSANGABAD vs. DCIT CPC, BENGALURU

In the result, the appeal of the assessee in I

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 324 & 325/Ind/2018 "नधा"रणवष" / Assessment Years: 2014-15 & 2015-16 M/S. Rajiv Gandhi Proudyogiki Vs. Dcit, Vishwavidyalaya, Cpc, Bhopal Bangaluru

disallowed by the A.O. The view of A.O. was confirmed by CIT(A), ITAT and HC. While dealing with the issue of allowability of exemption under relevant section, Hon'ble Apex Court has beautifully analysed and adjudicated one of the twin conditions, which is found common in all the three sub sections, 10(23C)(iiiab),(iiiad)and vi. The question

THE ACIT 3(2), INDORE vs. M/S. SIMRAN DEVELOPERS, INDORE

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani(Conducted Through Virtual Court) Assessment Year: 2014-15 Ito-3(2), M/S. Simran Developers Indore 402, Mark Building, बनाम/ Saket Square, Vs. Indore (Appellant / Revenue) (Respondent / Assessee) Pan: Ackfs 1946 B Revenue By Shri Ashish Porwal, Sr. Dr Assessee By None Date Of Hearing 16.03.2023 Date Of Pronouncement 18.04.2023

23,26,323/- on account of disallowance out of expenses. The AO made the disallowance @ 10% out of the development expenses. The AO made the disallowance without any basis. The appellant firm is a Real Estate Developer. Being the real estate work, the appellant engaged the labour and contractors for doing the work. TDS was deducted on the payments made

MUDIT KUMAR BAJAJ,UJJAIN vs. ITO-1(2), UJJAIN

In the result, the appeal of the assessee is allowed”

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani(Respondent/ Revenue) Pan: Aezpb2621P Assessee By Ms. Nupur Ladha & Shri Vaibhav Siroliya, Ars Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 13.06.2024 Date Of Pronouncement 18.06.2024 O R D E R

23. The Hon'ble Supreme Court has therefore upheld the constitutional validity of section 40A(3) of the Act and has held that the provisions are not intended to restrict the business activities and restraint so provided are only intended to curb the chances and opportunities to use or create black money and the same should not be regarded

THE DCIT, 2(1), BHOPAL vs. M/S. AYUSHMATI EDUCATION AND SOCIAL SOCIETY, BHOPAL

In the result the appeal of the Revenue is allowed for statistical

Bench: Shri Kul Bharat & Shri Manish Borad

disallowance of Excess of income over expenditure.. 2. Whether on the facts and circumstances of the case Ld.CIT(A) was justified in deleting the addition of Rs.90,31,280/- eve3n though approval 10(23C)(vi) was not granted to the society by the competent authority and thereby ignoring the decision of the I.T.A.T. Amritsar Bench in the case

THE ACIT-2(1), UJJAIN vs. M/S. TRAPTI TRADING & INVESTMENT PVT.LTD., NAGDA

In the result, against total disallowance of Rs

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradassessment Year 2008-09 Asstt. Commissioner Of M/S. Trapti Trading & Income Tax-2(1), Vs. Investment Pvt. Ltd, Ujjain Po Birlagram, Nagda Distt. Ujjain (M.P) (Revenue) (Respondent ) Pan Aabct6006B Revenue By Smt. Ashima Gupta, Cit Assessee By S/Shri Ronak Doshi & Rajiv Garg, Ars Date Of Hearing 11.04.2019 Date Of Pronouncement 29.04.2019 O R D E R

disallowance u/s 14A of the Act at Rs.2,23,40,745/- made by the Ld. A.O by applying rule 8D of I.T. rules r.w.r.t. Section