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

Unexplained Cash Credits u/s. 68 on account of Unsecured Loans and Disallowance of Interest Paid thereon u/s. 69C b) Out of Books

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

Unexplained Cash Credits u/s. 68 on account of Unsecured Loans and Disallowance of Interest Paid thereon u/s. 69C b) Out of Books

THEDCIT 1(1) , INDORE, INDORE vs. M/S AD-MANUM FINANCE LTD., INDORE

In the result, Revenue’s appeal in ITANo

Bench: Hon’Ble Rajpal Yadav & Hon’Ble Manish Boradvirtual Hearing Assessment Year 2011-12

unexplained cash credit u/s 68 of the Act as well as deleting disallowance of interest expenditure disallowed at Rs. 61,58,897/- observing

AABHUSHAN,DHAMNOD, MADHYA PRADESH vs. ITO DHAR, DHAR

In the result, appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniaabhushan Dhamnod Ito, Dhar 1St Floor, Ganpati Market Ab Road Dhamnod Vs. Mp (Appellant / Assessee) (Respondent/ Revenue) Pan: Abgfa0812K Assessee By Shri Pranay Goyal & Shri S.N. Goyal, Ars Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 10.04.2024 Date Of Pronouncement 09.05.2024 O R D E R

unexplained. The addition made by the learned AO is liable to upheld. 6.15 Accordingly ground no.2 of the appellant is dismissed.” 9.2 Thus, the CIT(A) has doubted the creditworthiness and genuineness of the transactions without conducting any inquiry or verification of the correctness of the evidence produced by the assessee either himself or through remand report

M/S RADHISHWARI DEVLOPERS P LTD,INDORE vs. PR CIT -2 INDORE, INDORE

In the result, Assessee’s appeal in ITANo

Bench: Hon’Ble Rajpal Yadav & Hon’Ble Manish Boradvirtual Hearing Assessment Year 2013-14 M/S. Radhishwari Developers P. Ltd. (Now Known As R.C. Warehousing Pvt. Ltd. ) Indore : Appellant Pan :Aafcr1916A V/S Pr. Cito-2 : Respondent Indore Appellant By S/Shri Sumit Nema Sr. Adv. With Gagan Tiwari & Piyush Parashar Advs. Revenue By Shri S.S. Mantri, Cit-Dr Date Of Hearing 24.05.2021 Date Of Pronouncement 20.07.2021

unexplained. Similar factor such as huge share premium reserve, circulating entries in the bank account and insignificant business activity as compared to the funds in the company is also observed in other companies from which the assessee as taken low the names of such suspects companies are mentioned in preceding discussion and alos in the show cause all these companies

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

disallowance of interest on such loans on the ground that loans were treated as unexplained cash credits in earlier years

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

disallowance of interest on such loans on the ground that loans were treated as unexplained cash credits in earlier years

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

disallowance of interest on such loans on the ground that loans were treated as unexplained cash credits in earlier years

M/S OREF SECURITIES PRIVATE LTD. ,MANDSAUR vs. INCOME TAX OFFICER, INDORE

In the result, appeal of the assessee is allowed

Bench: Shri Manish Borad & Ms.Madhumita Royआयकर अपील सं./ Ita No.70/Ind/2018 "नधा"रण वष"/Asstt. Year: 2013-14 Vs. Ito, Mandsaur. M/S.Oref Securities P.Ltd. 69, Agrasen Nagar B/H. Mid India Mandsaur.

unexplained cash credit under section 68- Commissioner (Appeals) held that five companies subscribing equity share amounting to Rs.25 lakhs were identified _ and they had submitted their bank statements, cash extracts and returns-filling receipt - He , therefore, deleted impugned addition made by assessing officer -Tribunal upheld order of commissioner (Appeals) - supreme court while dealing with similar issue in various cases held

M/S. ALANKAR JEWELLWER,VIDISHA vs. THE ACIT- II, VIDISHA

In the result, appeal filed by the assessees in

Bench: Rajpal Yadav Hon'Ble & Shri Manish Boradvirtual Hearing Assessment Year:2016-17 M/S. Alankar Jewellers Acit-Ii Nikasha Road, Vidisha Bhopal बनाम/ Vidisha Vs. (Appellant) (Respondent ) P.A. No.Aavfa1527D It(Ss)A No.205/Ind/2019 Assessment Year:2016-17 Acit-Ii M/S. Alankar Jewellers Bhopal Nikasha Road, Vidisha बनाम/ Vidisha Vs. (Appellant) (Respondent ) P.A. No.Aavfa1527D Appellant By Shri S.S. Deshpande, Ar Respondent By Shri S.S. Mantri, Cit-Dr Date Of Hearing: 08.06.2021 Date Of Pronouncement: 01.09.2021 आदेश / O R D E R Per Manish Borad:

unexplained cash found during the course of search. During the course of search cash amounting to Rs. 69.25 lakhs was found from show room of the assessee. Shri sanjay Jain was required to explain the source and acquisition of cash amounting to Rs. 60 lakhs; however, he failed to explain the source of cash found during the course of search

INCOME TAX OFFICER 5(1), INDORE vs. UMANG DEVELOPERS, INDORE

Appeals are dismissed

unexplained cash credit\nu/s 68 of the IT act 1961 and the same is taxed u/s 115BBE of Income tax\nAct, 1961. After satisfying on the facts of the case penalty proceedings u/s\n271AAC are initiated separately.\n(Addition: Rs.5,03,68,443/-)\"\n42. During first-appeal, the assessee filed all evidences of lenders\ncomprising of documents already filed before

INCOME TAX OFFICER INDORE 5(1), INDORE vs. UMANG DEVELOPERS, INDORE

Appeals are dismissed

unexplained cash credit\nu/s 68 of the IT act 1961 and the same is taxed u/s 115BBE of Income tax\nAct, 1961. After satisfying on the facts of the case penalty proceedings u/s\n271AAC are initiated separately.\n(Addition: Rs.5,03,68,443/-)\"\n42. During first-appeal, the assessee filed all evidences of lenders\ncomprising of documents already filed before

ULTIMATE CONSTRUCTION,BHOPAL vs. DCIT-1(1), BHOPAL

Appeal is partly allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year : 2010-11 Ultimate Construction, Dcit-1(1), G-1, Kamdenu Tower, Bhopal बनाम/ E-2/21, Arera Colony, Vs. Bhopal (Appellant/Assessee) (Respondent/Revenue) Pan: Aabfu9241J Assessee By Shri S.S. Deshpande, C.A. Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 30.01.2024 Date Of Pronouncement 29.02.2024

unexplained cash credit u/s 68 of the Act. 4. That on the facts and in the circumstances of the case of the assessee, the Ld. CIT(A)-3 was not justified in confirming the addition towards disallowance

INCOME TAX OFFICER 5 (1), INDORE vs. M/S SATYAMITRA INFRASTRUCTURE PVT. LTD, INDORE, INDORE

In the result, the departmental appeal i

Bench: Shri Rajpal Yadav, Vice- & Shri Manish Boradvirtual Hearing Assessment Year:2012-13

unexplained cash credits, Rs.2,84,555/- on account of disallowance of loss as claimed and Rs.61,84,343/- on account

SUPREME AUTO 9INDIA) PVT,LTD,, INDORE vs. ITO1 (4), INDORE

In the result, the appealof assesseeis partly allowed in terms indicated above

Bench: Ms. Madhumita Roy & Shri B.M. Biyani

unexplained cash credit and liable to be reserved. 5.On the facts and circumstances of the case and in law the learned CIT(A) erred in making a disallowance

ASSISTANT COMMISSIONER OF INCOME TAX (EXEMPTION) CIRCLE BHOPAL, BHOPAL vs. MAYANK WELFARE SOCIETY, INDORE

In the result, Revenue’s appeal for the AY 2013-14

Bench: Shri Manish Borad & Ms. Madhumita Royvirtual Hearing Assessment Year: 2013-14

unexplained cash credit for A Y 2009-:; 0 _ on appeal to CIT (A), held that since Assessee society was not able to establish identity and capacity of donors, addition done by AO was sustained and appeal of assessee was dismissed - Held section 115BBC only mandates names and addresses of donors are to be recorded - CIT (A) wrongly applied section

THE DCIT, (EXEMPTION) CIRCLE, BHOPAL vs. M/S. MAYANK WELFARE SOCIETY, BHOPAL

In the result, Revenue’s appeal for the AY 2013-14

Bench: Shri Manish Borad & Ms. Madhumita Royvirtual Hearing Assessment Year: 2013-14

unexplained cash credit for A Y 2009-:; 0 _ on appeal to CIT (A), held that since Assessee society was not able to establish identity and capacity of donors, addition done by AO was sustained and appeal of assessee was dismissed - Held section 115BBC only mandates names and addresses of donors are to be recorded - CIT (A) wrongly applied section

ACIT(CENTRAL)-2, INDORE vs. SHRI AAKASH SHUKLA, INDORE

In the result, appeal of revenue is dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniacit(Central)-1 Shri Aakash Shukla Indore 94, Banganga Main Road Vs. Indore

credit u/s. 68 of the Act are hereby deleted. Therefore, appeal on this ground is allowed. 3.4 Ground No. 2 of A.Ys. 2013-14 & 2014-15:- Through these grounds appeal, the appellant has challenged the addition made on account of interest paid on unsecured loans amounting to Rs.4,50,00,000/- in A.Y. 203-14 and Rs.75