THE ACIT (CENTRAL)-I, BHOPAL vs. M/S. D.K. CONSTRUCTION, BHOPAL

Appeal is allowed

Bench: Ms. Suchitra R. Kamble & Shri Bhagirath Mal Biyani

housing-project” must be completed within the specified time. In fact, that is also the intention of the Parliament that entire project as approved by local-authority must be completed. Further, we need to rule out the proposition that even if a part of the project is completed, deduction is allowed because if that is permitted, a person may complete

M/S. D.K. CONSTRUCTION,BHOPAL vs. THE ACIT, 2(1), BHOPAL

Appeal is allowed

Bench: Ms. Suchitra R. Kamble & Shri Bhagirath Mal Biyani

housing-project” must be completed within the specified time. In fact, that is also the intention of the Parliament that entire project as approved by local-authority must be completed. Further, we need to rule out the proposition that even if a part of the project is completed, deduction is allowed because if that is permitted, a person may complete

THE ACIT (CENTRAL)-I, BHOPAL vs. M/S. D.K. CONSTRUCTION, BHOPAL

Appeal is allowed

Bench: Ms. Suchitra R. Kamble & Shri Bhagirath Mal Biyani

housing-project” must be completed within the specified time. In fact, that is also the intention of the Parliament that entire project as approved by local-authority must be completed. Further, we need to rule out the proposition that even if a part of the project is completed, deduction is allowed because if that is permitted, a person may complete

M.P.MADHYAM,BHOPAL vs. THE DCIT EXEMPTION, BHOPAL

In the result, appeals of assessee for A

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

housing boards, regulatory authorities and corporations may be entitled to, if mandated to collect or Page 3 of 22 ITA No.422 & other /Ind/2022 M.P. Madhyam Page 4 of 22 receive. The definition of charitable activity provided u/s 2(15) ipso facto does not spell out whether certain kinds of income can be excluded however, the Hon’ble Supreme Court

M.P.MADHYAM,BHOPAL vs. THE ACIT EXEMPTION, BHOPAL

In the result, appeals of assessee for A

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

housing boards, regulatory authorities and corporations may be entitled to, if mandated to collect or Page 3 of 22 ITA No.422 & other /Ind/2022 M.P. Madhyam Page 4 of 22 receive. The definition of charitable activity provided u/s 2(15) ipso facto does not spell out whether certain kinds of income can be excluded however, the Hon’ble Supreme Court

M/S M.P. MADHYAM,BHOPAL vs. THE ACIT EXEMPTION, BHOPAL

In the result, appeals of assessee for A

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

housing boards, regulatory authorities and corporations may be entitled to, if mandated to collect or Page 3 of 22 ITA No.422 & other /Ind/2022 M.P. Madhyam Page 4 of 22 receive. The definition of charitable activity provided u/s 2(15) ipso facto does not spell out whether certain kinds of income can be excluded however, the Hon’ble Supreme Court

M.P.MADHYAM,BHOPAL vs. THE ACIT EXEMPTION, BHOPAL

In the result, appeals of assessee for A

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

housing boards, regulatory authorities and corporations may be entitled to, if mandated to collect or Page 3 of 22 ITA No.422 & other /Ind/2022 M.P. Madhyam Page 4 of 22 receive. The definition of charitable activity provided u/s 2(15) ipso facto does not spell out whether certain kinds of income can be excluded however, the Hon’ble Supreme Court

VAISHALI DEVELOPERS AND BUILDERS ,BHOPAL vs. INCOME TAX OFFICER -1(2), BHOPAL

Appeals are allowed

Bench: Shri B.M. Biyani & Shri Udayan Das Gupta

section 80-IB(10), the entirety of project including development of infrastructure must be undertaken by assessee. According to Ld. DR, ‘entire project’ would mean development as a cohesive unit which includes the construction of houses with development of essential amenities. In the case of assessee, the buyers have first acquired ownership of plots from assessee through registered Sale-Deeds

THE ACIT, -2(1), BHOPAL vs. M/S. D.K. CONSTRUCTION, BHOPAL

property but only examining whether for the purpose of\nbenefit under s. 80IB(10), the assessee could be considered as the\nowner of the land in question. For the limited purpose of deduction u/s\n80IB(10), the assessee had satisfied the condition of ownership also,\neven if it was necessary. The Tribunal committed no error in holding\nthat the assesses

VAISHALI DEVELOPERS ANDBUILDERS,BHOPAL vs. INCOME TAX OFFICER 1 (2), BHOPAL

Appeals are allowed

section 80-IB(10), the entirety of project including development\nof infrastructure must be undertaken by assessee. According to Ld. DR,\n'entire project' would mean development as a cohesive unit which includes\nthe construction of houses with development of essential amenities. In the\ncase of assessee, the buyers have first acquired ownership of plots from\nassessee through registered Sale

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

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

22 of 36 ACIT (Central)-2, Indore Vs. Lifestyle Infratech P. Ltd. IT(SS)A Nos 27 to 29 and ITA No. 291/Ind/2016 A.Y. 2010-11 to 2013-14 Sizes of the flats/houses but at the same time also noted divergence in prices. Thus, we find that although there is some resemblance in those two documents yet there

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

house purchased by him and accordingly he is not qualified for claiming deduction of investment while computing the capital gain chargeable to tax. Hence, without bringing any supporting views about his belief and doubting the genuineness of the transaction even ignoring the fact that entire transactions have Page 10 of 21 ITANo.245/Ind/2024 Mahendra Singh Chawla been done through Banking channel

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

house property’ and not as ‘business income’ and for that reason made the impugned Page 9 of 22 ITA No. 471/Ind/2023 - AY 2016-17 SRK Dev Build Pvt. Ltd disallowances of deductions, the AO was very much wrong in stepping further and making a worse conclusion that the assessee has furnished inaccurate particulars qua those disallowances and thereby invoking section

THE ACIT, 4(1), INDORE vs. SHRI SANJAY LUNAWAT, INDORE

Bench: Shri Rajpal Yadav, Vice- & Shri Manish Boradvirtual Hearing Assessment Year 2010-11

10,18,580/- made by the Assessing Officer was unjustified as the borrowed funds were utilized towards purchase of Sanjay Lunawat ITA No.396/Ind/2018 & C.O.No.32/Ind/2018 the properties which were let-out and rental income earned therefrom was offered for tax under the head ‘Income from House Property’ and more so when such deduction on account of interest was allowed

THE ACIT, 2(1), BHOPAL vs. M/S. D.K. CONSTRUCTION, BHOPAL

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

property but only examining whether for the purpose of benefit under s. 80IB(10), the assessee could be considered as the owner of the land in question. For the limited purpose of deduction u/s 80IB(10), the assessee had satisfied the condition of ownership also, even if it was necessary. The Tribunal committed no error in holding that the assesses

THE ACIT, 2(1), BHOPAL vs. M/S. D.K. CONSTRUCTION, BHOPAL

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

property but only examining whether for the purpose of benefit under s. 80IB(10), the assessee could be considered as the owner of the land in question. For the limited purpose of deduction u/s 80IB(10), the assessee had satisfied the condition of ownership also, even if it was necessary. The Tribunal committed no error in holding that the assesses

SHRI RAM BABU SINGH,INDORE vs. DCIT 1(1), BHOPAL

In the result appeal of the assessee is dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanishri Ram Babu Singh, Dcit-1(1) C/O Sv Agrawal & Associates, Bhopal Dadi Dham, 24, Joy Builders Colony, Vs. Near Rafael Tower, Old Palasia, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Aelps9945K Assessee By S/Shri Ashish Goyal & N.D. Patwa, Ars Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 15.05.2024 & 03.07.2024 Date Of Pronouncement 23 .07.2024

22 ITJ 273 Indore. 6. On the other hand Ld. DR has submitted that the A.O has disallowed the claim of deduction u/s 80IB(10) on three grounds viz (i) the assessee was only a contractor for construction of the houses and not a developer because of the fact that the assessee has sold the plot of land

ACIT , RATLAM vs. M/S SHIRANI AUTOMOTIVES PVT. LTD, RATLAM MP

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2014-15 Acit, M/S. Shirani Automotive Ratlam P. Ltd. बनाम/ 29, Shirani Pura, Vs. Ratlam (Appellant / Revenue) (Respondent / Assessee) Pan: Aancs 1007 M Revenue By Shri P.K. Mishra, Cit-Dr Assessee By None Date Of Hearing 02.03.2023 Date Of Pronouncement 31.03.2023

Housing & Development Co. [2018] 93 taxmann.com 502 held as follows: “Section 2(22) of the Income-tax Act, 1961 - Deemed dividend - (Applicability of) - High Court relied upon judgment passed by Judgment of Delhi High Court in Commissioner of Income-tax v. Ankitech (P.) Ltd. [2011] 11 taxmann.com 100 (Delhi) in which it was held that: (i) legal fiction created under