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

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

section 22 of the Act. Since, in the ensuing paragraphs 1 have held that the income of the /appellant is to be treated as ITA Nos.117,118&344/Ind/2017 & 203/Ind/2018 DCIT vs. M. P. Entertainment & Developers Pvt. Ltd. Asst. Years–2011-12 to 2014-15 - 18 – business income and not as income from house / property, these case laws are not relevant

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

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

section 22 of the Act. Since, in the ensuing paragraphs 1 have held that the income of the /appellant is to be treated as ITA Nos.117,118&344/Ind/2017 & 203/Ind/2018 DCIT vs. M. P. Entertainment & Developers Pvt. Ltd. Asst. Years–2011-12 to 2014-15 - 18 – business income and not as income from house / property, these case laws are not relevant

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

Section 147 of the Act upon filing her return of income showing total income of Rs. 19,740/-: Computation of Capital Gains Sale Consideration received Rs. 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

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

section 234B of the income Tax Act. ITA No.26/Ind/2015/ Assessment Year 2007-08 : 1.1) That on the facts and in the circumstances of the Ld CIT (A) erred in maintaining notional addition made by the assessing officer by taxing the annual letting value of the property under the head of Income from House property M/s.Sheetu Educational Services P.Ltd. I.T.A.Nos

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

section 234B of the income Tax Act. ITA No.26/Ind/2015/ Assessment Year 2007-08 : 1.1) That on the facts and in the circumstances of the Ld CIT (A) erred in maintaining notional addition made by the assessing officer by taxing the annual letting value of the property under the head of Income from House property M/s.Sheetu Educational Services P.Ltd. I.T.A.Nos

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

section 234B of the income Tax Act. ITA No.26/Ind/2015/ Assessment Year 2007-08 : 1.1) That on the facts and in the circumstances of the Ld CIT (A) erred in maintaining notional addition made by the assessing officer by taxing the annual letting value of the property under the head of Income from House property M/s.Sheetu Educational Services P.Ltd. I.T.A.Nos

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

section 234B of the income Tax Act. ITA No.26/Ind/2015/ Assessment Year 2007-08 : 1.1) That on the facts and in the circumstances of the Ld CIT (A) erred in maintaining notional addition made by the assessing officer by taxing the annual letting value of the property under the head of Income from House property M/s.Sheetu Educational Services P.Ltd. I.T.A.Nos

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

section 234B of the income Tax Act. ITA No.26/Ind/2015/ Assessment Year 2007-08 : 1.1) That on the facts and in the circumstances of the Ld CIT (A) erred in maintaining notional addition made by the assessing officer by taxing the annual letting value of the property under the head of Income from House property M/s.Sheetu Educational Services P.Ltd. I.T.A.Nos

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

21 ITANo.245/Ind/2024 Mahendra Singh Chawla 5. In this case even without execution of sale deed, the transferee acquires the right in the property and the transferor cannot claim any right in respect of property under consideration other than the rights expressly provided in the terms of contract. Section 2(47(v) of the Income Tax Act, 1961; covers within

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

21. The sole grievance raised is against the order of Ld.CIT(A) denying the benefit of deduction u/s 24 of the Act at Pramod Kumar Sethi I.T.A. No. 382 & 383/Ind/14 Rs.7,92,350/- against the income earned from House property at Rs.26,87,635/-. Brief facts relevant to this issue are that the assessee is engaged in the real estate

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

21. The sole grievance raised is against the order of Ld.CIT(A) denying the benefit of deduction u/s 24 of the Act at Pramod Kumar Sethi I.T.A. No. 382 & 383/Ind/14 Rs.7,92,350/- against the income earned from House property at Rs.26,87,635/-. Brief facts relevant to this issue are that the assessee is engaged in the real estate

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

21. The sole grievance raised is against the order of Ld.CIT(A) denying the benefit of deduction u/s 24 of the Act at Pramod Kumar Sethi I.T.A. No. 382 & 383/Ind/14 Rs.7,92,350/- against the income earned from House property at Rs.26,87,635/-. Brief facts relevant to this issue are that the assessee is engaged in the real estate

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

21 of 24 case of ITO v. K. C. Gopalan [1999] 107 Taxman 591 (Ker) in which the assessee sold residential house and acquired new residential house, and claimed deduction u/s. 54. AO held that sale price was not utilized for construction of a house, but was deposited in private banks. The Court held that the assessee has to construct

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

21 taxmann.com 8 (Del), CIT vs. Indusind Bank Ltd. (2015) 55 taxmann.com 406 (Bom), CIT v. Indersons Leather P. Ltd. (2011) 196 Taxman 103 (P&H) (MAG) and ITO vs. Roborant Investments P. Ltd. (2006) 7 SOT 181 (Mum). The assessee has stated that penalty initiated in the present case is not maintainable, therefore, it is our humble request

M/S BALAJEE STERLING BUILDER,BHOPAL vs. THE DCIT-1(1), BHOPAL

In the result, both of the appeals of assessee are allowed

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

housing project. Combined reading of Section 2(47)(v) and Section 53A of the Transfer of Property Act would lead to a situation where the land would be for the purpose of Income Tax Act deemed to have been Page 21

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

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

21 taxmann.com 159 (Guj.) Ashok Pal Daga v. CIT as reported in [1996] 220 ITR 452 (MP); CIT v. Metachem Industries as reported in [2000] 245 ITR 160 (MP) CIT v. Mark Hospitals (P.) Ltd. as reported in [2015] 373 ITR 115 (Madras)(Mag.) 16. In view of the above discussion in the light of the judicial pronouncements (supra

DILIP CHANDRASENRO MAHADIK,INDORE vs. THE PR CIT -2 INDORE, INDORE

Appeal is dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2015-16 Shri Dilip Chandrasenrao Pr.Cit-2, Mahadik, Indore. बनाम/ 479, Kalani Nagar, Vs. Indore (Assessee / Appellant) (Revenue / Respondent) Pan: Abwpm3141M Assessee By S/Shri Rajnish Vohra, Chetan Khandelwal & Nitesh Dawira, Ld. Ars Revenue By Shri P.K. Mishra, Cit Dr Date Of Hearing 24.05.2023 Date Of Pronouncement 17.08.2023

House property u/s 54 Rs. 84,21,000/- (65,00,000/- plus 19,21,000) 7,00,000/- (Round off) cost of Repair” [Emphasis added] 5. However, the PCIT was not satisfied with the reply of assessee for the reasons mentioned by him in revision-order as under: “4. I have carefully considered the facts of the case, the assessment

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), INDORE., INDORE vs. MP ENTERTAINMENT AND DEVELOPERS PRIVATE LIMITED, INDORE

Appeal is dismissed being devoid of merit

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year : 2015-16 Acit, M.P. Entertainment & 1(1), Developers Private Ltd., Indore. 94-101, 4Th Floor, बनाम/ C-21 Malls, Vs. Indore (Revenue /Appellant) (Assessee /Respondent) Pan: Aaecm8668D Assessee By Shri Anil Kamal Garg, Ca Revenue By Shri Ram Kumar Yadav, Cit Dr Date Of Hearing 23.09.2024 Date Of Pronouncement 11.10.2024

21,35,712/- (rupees fifty crore twenty one lakhs thirty five thousand seven hundred twelve only) as "house property income" for the Assessment Year 2013-14 and determined "business / professional income" at Rs.6,63,59,504/- (rupees six crore sixty three lakhs fifty nine thousand five hundred four only) for the same Assessment Year. The CIT(A) has held that