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

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

13 – Court in the matter of Shambhu Investment Pvt. Ltd. vs. CIT, reported in (2003) 263 ITR 143 (SC), wherein the income derived from the property which is not exploited as business asset has been held to be the ‘income from property’ and not ‘income from business’. He further relied upon the judgment passed in the matter of Karnani Properties

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

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

13 – Court in the matter of Shambhu Investment Pvt. Ltd. vs. CIT, reported in (2003) 263 ITR 143 (SC), wherein the income derived from the property which is not exploited as business asset has been held to be the ‘income from property’ and not ‘income from business’. He further relied upon the judgment passed in the matter of Karnani Properties

M/S SHREE JAIRAM EDUCATION SOCIETY,BHOPAL vs. ACIT CENTRAL-II, BHOPAL

In the result, appeal of the assessee in ITANo

Bench: Hon’Ble Rajpal Yadav & Shri Manish Boradvirtual Hearing

housing the college, hostel and to provide other facilities to the students who are studying in the College. The College is recognized by the Medical Council of India, State of Karnataka and all other statutory authorities. Therefore, it cannot be said that the Trust is not genuine. Admittedly, the students are being admitted every year. Students are studying

M/S SHREE JAIRAM EDUCATION SOCIETY,BHOPAL vs. PR. CIT (CENTRAL), BHOPAL

In the result, appeal of the assessee in ITANo

Bench: Hon’Ble Rajpal Yadav & Shri Manish Boradvirtual Hearing

housing the college, hostel and to provide other facilities to the students who are studying in the College. The College is recognized by the Medical Council of India, State of Karnataka and all other statutory authorities. Therefore, it cannot be said that the Trust is not genuine. Admittedly, the students are being admitted every year. Students are studying

M/S SHEETU EDUCATIONAL SERVICE PVT LTD.,INDORE vs. THE DCIT 5(1), INDORE

In the result, all the appeals of the assessee for assessment year 2005-06 to 2010-11 are partly allowed as per our

Bench: Shri D.T. Garasia & Shri O.P. Meena

13 of 66 of rental income in the hand of the assessee even when building was leased out for long terms period and therefore deemed ownership of the building as per section 27(iiib) belonging to the lessee. 2.4) That on the facts and in the circumstances of the case, the Ld CIT(A) erred in not making any comments

M/S. SHEETU EDUCATIONAL SERVICES P LTD.,INDORE vs. THE DCIT 5(1) RANGE-5, INDORE

In the result, all the appeals of the assessee for assessment year 2005-06 to 2010-11 are partly allowed as per our

Bench: Shri D.T. Garasia & Shri O.P. Meena

13 of 66 of rental income in the hand of the assessee even when building was leased out for long terms period and therefore deemed ownership of the building as per section 27(iiib) belonging to the lessee. 2.4) That on the facts and in the circumstances of the case, the Ld CIT(A) erred in not making any comments

M/S SHEETU EDUCATIONAL SERVICE PVT LTD.,INDORE vs. THE DCIT 5(1), INDORE

In the result, all the appeals of the assessee for assessment year 2005-06 to 2010-11 are partly allowed as per our

Bench: Shri D.T. Garasia & Shri O.P. Meena

13 of 66 of rental income in the hand of the assessee even when building was leased out for long terms period and therefore deemed ownership of the building as per section 27(iiib) belonging to the lessee. 2.4) That on the facts and in the circumstances of the case, the Ld CIT(A) erred in not making any comments

M/S. SHEETU EDUCATIONAL SERVICES P. LTD.,INDORE vs. THE DCIT 5(1), INDORE

In the result, all the appeals of the assessee for assessment year 2005-06 to 2010-11 are partly allowed as per our

Bench: Shri D.T. Garasia & Shri O.P. Meena

13 of 66 of rental income in the hand of the assessee even when building was leased out for long terms period and therefore deemed ownership of the building as per section 27(iiib) belonging to the lessee. 2.4) That on the facts and in the circumstances of the case, the Ld CIT(A) erred in not making any comments

M/S. SHEETU EDUCATIONAL SERVICES P. LTD.,INDORE vs. THE DCIT 5(1), INDORE

In the result, all the appeals of the assessee for assessment year 2005-06 to 2010-11 are partly allowed as per our

Bench: Shri D.T. Garasia & Shri O.P. Meena

13 of 66 of rental income in the hand of the assessee even when building was leased out for long terms period and therefore deemed ownership of the building as per section 27(iiib) belonging to the lessee. 2.4) That on the facts and in the circumstances of the case, the Ld CIT(A) erred in not making any comments

FAIZAN E BURHANE MILLAT TRUST,JABALPUR vs. THE CIT EXEMPTION, BHOPAL

In the result, appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanifaizan E Burhane Millat Cit(Exemption) Trust Bhopal 181/1, Baitla Colony Vfj Society, Ward Shaheed, Abdul Vs. Hameed, Raza Chowk Milk, Scheme Road, Jabalpur (Appellant / Assessee) (Respondent/ Revenue) Pan: Aaatf8671J Assessee By Shri Ashish Goyal & Nd Patwa, Ars Revenue By Shri Ashish Porwal, Sr. -Dr Date Of Hearing 13.02.2024 Date Of Pronouncement 20.03.2024

section 13(1)(b) would be attracted in the case of the assessee. Further, CIT(E) has observed that the objects of the assessee confined to benefit to only Muslim community and therefore, it would be covered by restriction u/s 13(1)(b) of the Act even though it functions for public benefit. At the outset we noted that

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

13 of 21 ITANo.245/Ind/2024 Mahendra Singh Chawla the full consideration of the property merely on the ground that the same is not registered as per the Transfer of Property Act, 1882 and has not paid the legitimate stamp duty on the same, if the intention of Law would be so then in the Income Tax Act no provision would have

SHRI PRAMOD KUMAR SETHI,INDORE vs. THE ACIT 3(1), INDORE

In the result appeal filed by the revenue being I

Bench: Shri Kul Bharat & Shri Manish Borad

13 Pramod Kumar Sethi I.T.A. No. 382 & 383/Ind/14 unexplained cash credit from the same set of four companies came up for adjudication and the Tribunal dismissed the revenue’s appeal observing as follows; “9. Rival contentions have been considered and records perused. From the record, we found that the assessee had borrowed loans from the following parties. 9. S.No. Name

THE ACIT, 3(1), INDORE vs. SHRI PRAMOD KUMAR SETHI, INDORE

In the result appeal filed by the revenue being I

Bench: Shri Kul Bharat & Shri Manish Borad

13 Pramod Kumar Sethi I.T.A. No. 382 & 383/Ind/14 unexplained cash credit from the same set of four companies came up for adjudication and the Tribunal dismissed the revenue’s appeal observing as follows; “9. Rival contentions have been considered and records perused. From the record, we found that the assessee had borrowed loans from the following parties. 9. S.No. Name

THE ACIT, 3(1), INDORE vs. SHRI PRAMOD KUMAR SETHI, INDORE

In the result appeal filed by the revenue being I

Bench: Shri Kul Bharat & Shri Manish Borad

13 Pramod Kumar Sethi I.T.A. No. 382 & 383/Ind/14 unexplained cash credit from the same set of four companies came up for adjudication and the Tribunal dismissed the revenue’s appeal observing as follows; “9. Rival contentions have been considered and records perused. From the record, we found that the assessee had borrowed loans from the following parties. 9. S.No. Name

SHRI SUSHIL KUMAR BAFNA,UJJAIN vs. THE ITO 1(1), UJJAIN

In the result, the appeal of the assessee is partly allowed

Bench: Shri C.M.Garg & Shri O.P.Meenaआ.अ.सं./ I.T.A. No. 637/Ind/2014 "नधा"रण वष" /Assessment Year: 2010-11

13. We find that section 54F contains two eventualities claiming for the benefit, one, is the purchase of the residential house and the second is construction of a residential house. The provision of section provides that it require the assessee to purchase the property

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

13-14, Dhenu Market 38,92,340 4,67,080 (2,33,540 (+) 2,33,540) 2 12, Dhenu Market 8,45,890 1,01,500 3 103, Horizon, Saket Nagar 25,05,000 3,00,000 Self-occupied property at Old 4 1,50,000 Palasia Total 10,18,580 We find that copy of repayment schedule/ loan statement

SATYANARAYAN SHARMA,INDORE vs. PRINCIPAL COMMISSIONER OF INCOME TAX-I, INDORE

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

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

13] [In favour of assessee]” [emphasis supplied] d. Hon’ble Delhi High Court in the case of Vikas Polymers – [2010] 194 Taxman 57 – order pronounced on 16.08.2010 – HEAD NOTE – “Section 263 of the Income-tax Act, 1961 - Revision - Of orders prejudicial to interests of revenue - Assessment year 1982-83 - Whether for exercising power under section 263, it is a prerequisite