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

10 – 8.01 Your Honours, the Hon'ble Kerala High Court in the case of CIT vs. Oberon Edifices and Estates Pvt. Ltd. 2019 (3) TM1 1468 (Ker.) has also held that income derived by the assessee by letting out the shops in the mall has to be assessed as income from business and not from income from House property

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

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

10 – 8.01 Your Honours, the Hon'ble Kerala High Court in the case of CIT vs. Oberon Edifices and Estates Pvt. Ltd. 2019 (3) TM1 1468 (Ker.) has also held that income derived by the assessee by letting out the shops in the mall has to be assessed as income from business and not from income from House property

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

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

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

MS. SANGEETA CHOPRA,UJJAIN vs. THE PR. CIT. UJJAIN, UJJAIN

In the result, the appeal filed by the assessee is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

29,00,000 Market Value of the property sold Rs. 42,52,000 PARTICULARA SALES MARKET VALUE CONSIDERATION 50% share in house property 14,50,000 21,26,000 sold (Itwara, Bhopal) Indexed Cost of Acquisition 15,80,000 15,80,000 (2,50,000 x 632 / 100) Long Term Capital Gain (-) 1,30,000 5,46,000 Less : Deduction

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

ANIL FIROJIYA,BHAKT NAGAR UJJAIN vs. DY COMMISIONER OF INCOME TAX, AAYKAR BHAWAN

Appeal is allowed for statistical purpose

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2018-19 Shri Anil Firojiya, Dy. Commissioner Of 6, Bhakt Nagar, Income-Tax, बनाम/ Dashera Maidan, Assessment Unit, Vs. Ujjain New Delhi (Assessee/Appellant) (Revenue/Respondent) Pan: Aaipf7302A Assessee By Shri Manoj Fadnis, Ca Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 04.07.2024 Date Of Pronouncement 12.07.2024

10,29,672/- and source of cash payment. In this context, Section 69 of the Act has been reproduced for sake of convenience as under :- “Where in the financial year immediately preceding the assessment year the assessee has made investments which are not recorded in the books of accounts, if any, maintained by him for any source of income

SHRI ABHAY DARE,BHOPAL vs. THE ITO 1(1), BHOPAL

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

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanishri Abhay Dare Ito-1(1) R-18, Gtb Complex Bhopal New Market, Vs. Bhopal (Appellant / Assessee) (Respondent/ Revenue) Pan: Adqpd5119C Assessee By None Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 23.07.2024 Date Of Pronouncement 31.07.2024

house by the Appellant consequently he treats him as contractor. • On plain reading of section 80IB(10) it is clear that it does not provide at what stage registration of transfer of property in the name of customer should take place or at all there should be a registration. The section does not provides that to claim a deduction

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

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

29 and ITA No. 291/Ind/2016 A.Y. 2010-11 to 2013-14 sq.ft., and the relevant built-up area requirement is specified under Section 80IB(10)(c) of the Income Tax Act. Thus, the built- up area in some of the flats in both these projects are in excess of 1500 sq.ft., i.e., 32 flats in Agrini and only one flat

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

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

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 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