DCIT,CENTRAL-2, INDORE vs. SHRI KRIHNA KUMAR VERMA, INDORE

In the result, appeal of the revenue is dismissed

Bench: SHRI CHANDRA MOHAN GARG (Judicial Member), SHRI BHAGIRATH MAL BIYANI (Accountant Member)

disallowance of any losswith the income as computed under clause (a) of sub section (1) of section 115BBE came into force w.e.f 01.04.2017 (from FY 2017-18 onwads). However, the AO has applied amended provisions in FY 2016-17 applying retrospective effect of the said amendment. Hon’ble Supreme court in the case of CIT vs Vatika Township

M/S NIKHIL ESTATE P LTD,INDORE vs. THE ACIT CENTRAL CIRCLE (3) INDORE, INDORE

In the result, appeal of assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S. Nikhil Estate Pvt. Ltd. Acit (Central)-3 M-102, Mezzanine, Floor, Indore Dhan Trident, P. No.B-3 Pu- Vs. 4, Sch. No.54, Vijay Nagar Square, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Aabcn 8056 D Assessee By Shri S.S. Solanki, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 01.05.2023 Date Of Pronouncement 09.06.2023

disallowance made by the AO u/s 69 r.w.s 115BBE is unlawful. Further, the amended provisions of section 115BBE are applicable from 01.04.2017 and not from the date of search. 4.1.2 I have considered the entire matrix of the case, various case law cited by the appellant and also perused assessment order. It is undisputed fact that during the course

M/S PUMARTH PROPERTIES & HOLDING (P) LTD.,INDORE vs. THE DCIT (CENTRAL)-1, INDORE

In the result, the appeal of the Assessee is allowed

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2013-14

69C or section 69D, at the rate of 30% is clear. The amendment in section 115BBE(2) w.e.f. 01.04.2017 is only clarificatory and to avoid litigation. The income surrendered by the appellant during the course of the search has the character of items included in section 115BBE and therefore will be chargeable at the flat rate

DCIT (CENTRAL)-2, INDORE vs. PUNJAB RETAIL (P) LTD., INDORE

In the result, the appeals filed by the Revenue is dismissed

Bench: Shri Manish Borad& Ms. Madhumita Roy

disallowance of any loss with the income as computed under clause (a) of sub section (1) of section 115BBE came into force w.e.f 01.04.2017. Hon'ble Supreme court in the case of CIT vs Vatika Township Pvt Ltd (2014) 24 ITJ 532 (SC); (2014) 271 CTR 1: (2014) 227 Taxmann 121 has held that "An amendment made to the taxing

DEPUTY COMMISSIONER OF INCOME TAX-2 (1), INDORE, INDORE vs. M/S DTHRI HEALTH CARE PVT. LTD. (M.P), INDORE

In the result Ground No.2 of the revenue stands

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradassessment Year 2013-14 Dcit-2(1), M/S. Dthri Health Care Indore Vs. Pvt. Ltd (M.P), Pu-4, Scheme No.54, Near A.B. Road, Indore (Appellant) (Respondent ) Pan No.Aabcd4095N Revenue By Shri R.P. Mourya, Sr.Dr Assessee By S/Shri Sumit Neema, Sr.Adv & Gagan Tiwari, Adv Date Of Hearing 17.12.2018 Date Of Pronouncement 02.01.2019 O R D E R

69C of The Act are not applicable to the fact of the case, In view of the above the provision of section 11SBBE of The Act are also not attracted in the case, The AO was therefore not justified in disallowing

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

69C has overlooking the findings of the AO recorded in the Assessment order. The ld.CIT-DR also pointed out that the ld. AO, after considering the entire facts and circumstances, made disallowance u/s 68 of the Act pertaining to accommodation entry received by the assessee through shell entities and has also paid commission to the intermediaries

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

69C has overlooking the findings of the AO recorded in the Assessment order. The ld.CIT-DR also pointed out that the ld. AO, after considering the entire facts and circumstances, made disallowance u/s 68 of the Act pertaining to accommodation entry received by the assessee through shell entities and has also paid commission to the intermediaries

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

69C has overlooking the findings of the AO recorded in the Assessment order. The ld.CIT-DR also pointed out that the ld. AO, after considering the entire facts and circumstances, made disallowance u/s 68 of the Act pertaining to accommodation entry received by the assessee through shell entities and has also paid commission to the intermediaries

THE DCIT,1(1), INDORE vs. M/S. RITSPIN SYNTHETICS LTD., PITHAMPUR

In the result, the appeal filed by the Department is allowed for statistical purposes, in terms indicated above, and the cross-objections filed by the assessee are dismissed as not pressed

Bench: Shri Siddhartha Nautiyal & Shri Bhagirath Mal Biyani

disallowance of interest of ₹25,27,261/- under section 69C of the Act could not survive, ITA No. 213/Ind/2023 & C.O. 4/Ind/2024

SATYA NARAYAN AGRAWAL,VIDISHA vs. ACIT 4 (1), VIDISHA

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

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanisatya Narayan Agrawal Acit, 4(1) 25, Station Road, Ganj Bhopal Vs. Basoda, Vidisha (Appellant / Assessee) (Respondent/ Revenue) Pan: Aaxpa 1865 E Assessee By Shri Arun Jain, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 30.05.2023 Date Of Pronouncement 22 .06.2023

section 69C of the Act in respect of adhoc disallowance of expenses, whereas all the expenses are duly recorded in the books

RAJVEER LEAF SPRINGS PRIVATE LIMITED,PALDA. INDORE vs. DCIT/ACIT- 4(1), AAYAKAR BHAWAN, RESIDENCY AREA, INDORE

The appeal of the assesse is allowed for statistical purpose

Bench: Shri B.M. Biyani & Shri Paresh M Joshirajveer Leaf Springs Dcit/Acit-4(1), बनाम/ Private Limited, Indore Vs. D-405, Shubh City, Palda, Indore

disallowing the full amount of purchases from the flagged entities. 5.3.6 Section 69C allows the AC to treat unexplained expenditure

DCIT , CENTRAL -2 , INDORE vs. M/S GREAT GALLEON VENTURES LTD , INDORE

In the result, the appeals of the Revenue bearing ITANo

Bench: Shri Rajpal Yadav Hon'Ble & Shri Manish Borad

Disallowance of Interest Paid thereon u/s. 69C b) Out of Books Cash Sales u/s. 69A c) Unaccounted Cash Receipt from Syndicate d) Hawala Transaction u/s. 69A e) Applicability of Section

DCIT , CENTRAL -2 , INDORE vs. M/S GREAT GALLEON VENTURES LTD , INDORE

In the result, the appeals of the Revenue bearing ITANo

Bench: Shri Rajpal Yadav Hon'Ble & Shri Manish Borad

Disallowance of Interest Paid thereon u/s. 69C b) Out of Books Cash Sales u/s. 69A c) Unaccounted Cash Receipt from Syndicate d) Hawala Transaction u/s. 69A e) Applicability of Section

DCIT CENTRAL-1, INDORE vs. SARTHAK INNOVATION (P) LTD., INDORE

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

disallowed and added to the total income of the assessee to the tune of Rs.69,64,144/- under Section 69C

ACIT CENTRAL-2, INDORE vs. SARTHAK INNOVATION (P) LTD., INDORE

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

disallowed and added to the total income of the assessee to the tune of Rs.69,64,144/- under Section 69C

ACIT CENTRAL-2, INDORE vs. SARTHAK INNOVATION (P) LTD., INDORE

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

disallowed and added to the total income of the assessee to the tune of Rs.69,64,144/- under Section 69C

DR. VINOD BHANDARI,INDORE vs. THE ACIT CIR. 2(1), INDORE

In the result appeal of the assessee is allowed

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2012-13 Shri Vinod Bhandari, Pr. Cit(1), Indore 21- Gf, Bhandari House, Talkies, Scheme No.54, Vs. Vijay Nagar, Indore (Appellant) (Revenue ) Pan No.Abnpb6240M Assessment Year: 2012-13

Disallowance of Excess interest claimed u/s 57 in the Return of Income (Page 35-38) Sir, the assessee had in original return claimed full interest by error which was already rectified by revised return filed by the assessee where interest claimed U/s 57 has been restricted to interest earned during the year. A copy of revised return is enclosed herewith

DR. VINOD BHANDARI,INDORE vs. THE DCIT CIR. 2(1), INDORE

In the result appeal of the assessee is allowed

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2012-13 Shri Vinod Bhandari, Pr. Cit(1), Indore 21- Gf, Bhandari House, Talkies, Scheme No.54, Vs. Vijay Nagar, Indore (Appellant) (Revenue ) Pan No.Abnpb6240M Assessment Year: 2012-13

Disallowance of Excess interest claimed u/s 57 in the Return of Income (Page 35-38) Sir, the assessee had in original return claimed full interest by error which was already rectified by revised return filed by the assessee where interest claimed U/s 57 has been restricted to interest earned during the year. A copy of revised return is enclosed herewith