SRK DEV BUILD PVT LTD.,INDORE vs. DCIT/ACIT 5(1), INDORE

Appeal is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2016-17 Srk Dev Build Pvt. Ltd, Dcit/Acit-5(1) 18/2, Lasudia Mori, Indore बनाम/ A.B. Road, Vs. Indore (Assessee/Appellant) (Revenue/Respondent) Pan: Aaqcs3387P Assessee By Shri Pranay Goyal & S.N. Goyal, Cas Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 15.04.2024 Date Of Pronouncement 20.06.2024

bogus or incorrect but Ld. AO has disallowed the claim of expenditure on the ground that there was no sale during the year under consideration and in the opinion of the Ld. AO entire expenditure should have been capitalized. The ld. AR has submitted that all the expenses are general in nature and have been incurred for the purpose

M/S ROCKBED RENOVATORS LTD.,BHOPAL vs. THE PCIT-1, BHOPAL

In the result, the appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanirockbed Renovators Ltd. Pr. Cit-1 7-A, Panjabi Bagh Raisen Road Bhopal Govindpura Vs. Bhopal (Appellant / Assessee) (Respondent/ Revenue) Pan: Aaacr7151G Assessee By Shri Gagan Tiwari Ar Revenue By Ms. Ila Parmar, Cit- Dr Date Of Hearing 10.06.2024 Date Of Pronouncement 12.06.2024

bogus or not genuine. In support of his contention he has relied upon following decisions: 1.Bengal Peerless Housing Devat. Co. Ltd v. Deputy Commissioner of Income (Circle -7) (1), Kolkata (2019) 103 Taxmann 298 (Kolkata Trib) 2.Bharat Earth Movers v. Commissioner of Income Tax (2000) 112 Taxmann 61 (SC) 3. Commissioner of Income Tax v. Alembic Glass Industries (Tax Appeal

AG-8 VENTURES LTD.,BHOPAL vs. ACIT, CENTRAL-1, BHOPAL

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

housing projects later on. In the affidavit filed by the sellers at PB 337-339, they have clearly stated that they were not much aware of the assessee company and therefore the transaction was done in cash. Thus, the payment was made in cash, as the parties demanded the payment in cash. He relied on the case of Gurdas Garg

AG-8 VENTURES LTD.,BHOPAL vs. ACIT, CENTRAL-1, BHOPAL

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

housing projects later on. In the affidavit filed by the sellers at PB 337-339, they have clearly stated that they were not much aware of the assessee company and therefore the transaction was done in cash. Thus, the payment was made in cash, as the parties demanded the payment in cash. He relied on the case of Gurdas Garg

HIMANSHU BOTADEARA HUF,INDORE vs. THE ITO 4(3), INDORE

In the result, these two appeals filed by the assesse are

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

bogus transaction of capital gain from the purchase and sale of shares of M/s. Twenty First Century India Limited. The AO has recorded the reasons for reopening of the assessment placed at page no.69 of the paper book without verifying the record available with the AO in the shape of the return of income filed by the assessee

HIMANSHU BOTADEARA HUF,INDORE vs. THE ITO 4(3), INDORE

In the result, these two appeals filed by the assesse are

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

bogus transaction of capital gain from the purchase and sale of shares of M/s. Twenty First Century India Limited. The AO has recorded the reasons for reopening of the assessment placed at page no.69 of the paper book without verifying the record available with the AO in the shape of the return of income filed by the assessee

SHRI BHAWANI SHANKAR PARASHAR,INDORE vs. THE DCIT/ACIT 1 (2), INDORE

In the result, appeal of assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanishri Bhawani Shankar Pr. Cit-1 Prashar Indore 28, Lasudia Mori, Vijay Vs. Nagar, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Bgbpp 2475 G Assessee By Shri S.N. Agrawal, Ar Revenue By Shri P.K. Mishra, Cit-Dr Date Of Hearing 02.05.2023 Date Of Pronouncement 21.06.2023

house was made to the tune of Rs.8,10,71,289/- in the year under consideration the Page 11 of 21 Bhawani Shankar Page 12 of 21 assessee has shown the consideration of Rs.2 crore and claimed that the same was invested in agricultural land which is more than the capital gain arising from the said consideration. The Assessing officer

SHRI M A KHAN,BHOPAL vs. THE ACIT 3(1), BHOPAL

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani(Conducted Through Virtual Court) It(Ss)A Nos.37 To 42/Ind/2015 & Assessment Years: 2004-05 To 2010-11 Late M.A. Khan Acit 3(1) (Through L/H Nazhat Bhopal Parveen Khan) बनाम/ B-90, Housing Board, Vs. Kohefiza, Bhopal (Appellant / Assessee) (Respondent / Revenue) Pan:Aewpk 3620 C Assessee By Ms. Nisha Lahoti & Shri Vijay Bansal, Ars Revenue By Shri P.K. Mishra, Cit-Dr Date Of Hearing 12.01.2023 Date Of Pronouncement 31.03.2023

Housing Board, Vs. Kohefiza, Bhopal (Appellant / Assessee) (Respondent / Revenue) PAN:AEWPK 3620 C Assessee by Ms. Nisha Lahoti & Shri Vijay Bansal, ARs Revenue by Shri P.K. Mishra, CIT-DR Date of Hearing 12.01.2023 Date of Pronouncement 31.03.2023 आदेश / O R D E R Per B.M. Biyani, A.M.: Feeling aggrieved by a consolidated appeal-order dated 28.11.2014 passed by learned Commissioner

SMT. SANDHYA KHANDELWAL,INDORE vs. ITO 4(3), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

House property, Business and income from share trading. The assessed claimed exemption u/s 10(38) of the Act of Rs.20,46,018/- for Long Term Capital Gain derived from sale of listed company’s share namely M/s Turbo Tech 3 Radheyshyam Khandelwal & Ors ITA No.7,8,29,30,& 113/Ind/2019 Engineering Ltd not chargeable to tax. The assessee has purchased

SHRI SURESH KHANDELWAL,INDORE vs. THE ITO-4(1), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

House property, Business and income from share trading. The assessed claimed exemption u/s 10(38) of the Act of Rs.20,46,018/- for Long Term Capital Gain derived from sale of listed company’s share namely M/s Turbo Tech 3 Radheyshyam Khandelwal & Ors ITA No.7,8,29,30,& 113/Ind/2019 Engineering Ltd not chargeable to tax. The assessee has purchased

SMT. RUKMANI KHANDELWAL,INDORE vs. ITO-4(3), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

House property, Business and income from share trading. The assessed claimed exemption u/s 10(38) of the Act of Rs.20,46,018/- for Long Term Capital Gain derived from sale of listed company’s share namely M/s Turbo Tech 3 Radheyshyam Khandelwal & Ors ITA No.7,8,29,30,& 113/Ind/2019 Engineering Ltd not chargeable to tax. The assessee has purchased

RADHESHYAM KHANDELWAL,INDORE vs. ACIT4(1), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

House property, Business and income from share trading. The assessed claimed exemption u/s 10(38) of the Act of Rs.20,46,018/- for Long Term Capital Gain derived from sale of listed company’s share namely M/s Turbo Tech 3 Radheyshyam Khandelwal & Ors ITA No.7,8,29,30,& 113/Ind/2019 Engineering Ltd not chargeable to tax. The assessee has purchased

MOHANLAL KHANDELWAL,INDORE vs. THE ITO-4(1), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

House property, Business and income from share trading. The assessed claimed exemption u/s 10(38) of the Act of Rs.20,46,018/- for Long Term Capital Gain derived from sale of listed company’s share namely M/s Turbo Tech 3 Radheyshyam Khandelwal & Ors ITA No.7,8,29,30,& 113/Ind/2019 Engineering Ltd not chargeable to tax. The assessee has purchased

SMT. SARLA JAIN,KHANDWA vs. ITO WARD 1 KHANDWA, KHANDWA

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2015-16 Smt. Sarla Jain, Ito, C/O Nakoda Marketing, Ward-1, बनाम/ Bhavani Mata Road, Khandwa Khandwa Vs. (Assessee / Appellant) (Revenue / Respondent) Pan: Abvpj1316J Assessee By Shri Pawan Ved, Advocate Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 31.05.2023 Date Of Pronouncement 24.08.2023

house property and also long term capital gain & same has been claimed as exempt u/s 10(38) of the I.T. Act. The case was selected for scrutiny under CASS and notice u/s 143(2) of the I. T. Act was issued on 25.07.2016 and the same was served upon the assessee on 29.07.2016. A copy of the same is placed

RUPESH VYAS,INDORE vs. THE ACIT3(1), INDORE, INDORE

In the result, this appeal of assessee is dismissed

Bench: Shri T.R. Senthil Kumar & Shri B.M. Biyani

house-property, business / profession and interest. In the return, the assessee also declared a long-term capital gain of Rs. 90,69,199/- from sale of equity shares of Lifeline Drugs and Pharma Ltd. exempted u/s 10(38) of the act. The assessee claimed to have purchased shares of Lifeline Drugs and Pharma

RUPESH VYAS,INDORE vs. THE ACIT3(1), INDORE, INDORE

In the result, this appeal of assessee is dismissed

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

house-property, business / profession and interest. In the return, the assessee also declared a long-term capital gain of Rs. 66,28,161/- earned from sale of equity shares of Lifeline Drugs and Pharma Ltd. exempted u/s 10(38) of the act. The assessee claimed to have purchased shares of Lifeline Drugs and Pharma Ltd. for Rs. 33,418/-; sold

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

property. E- M/s. Radheshwari Developers Pvt. Ltd. return of income filed on 27.09.2013 declaring loss of Rs.51,72,569/- which comprises of depreciation loss at Rs.1,53,066/- and business loss of Rs.50,19,503/-. Case selected for scrutiny assessment through CASS for the reason ‘large unsecured loans’. Notices u/s 143(2) & 142(1) of the Act duly served upon

KAMAL PANJWANI,INDORE vs. THE ACIT 3 (1), INDORE

Bench: Shri Vijay Pal Rao & Shrib.M. Biyani

bogus share-holders in whose name the share had been issued and the money might have been provided by some other person. If the assessment of the person who were alleged to have really advanced the money was sought to be reopened, that would have made some sense but under no circumstances the share capital amounts could be assessed