ANJU JAIN, LR SHRI SUSHIL JAIN ,INDORE, MADHYA PRADESH vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, UJJAIN, UJJAIN, MADHYA PRADESH

Appeals are allowed

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

1) regarding the quantum of penalty. The primary condition for levy of penalty is the existence of undisclosed income as per the disclosure made by the assessee under section 132(4). The term ‘undisclosed income’ has been defined in Explanations to section 271AAB. Therefore, as per the definition provided in the Explanation, the undisclosed income may have various forms

MUKESH KUMAR RANKA,INDORE, MADHYA PRADESH vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, UJJAIN, UJJAIN, MADHYA PRADESH

Appeals are allowed

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

1) regarding the quantum of penalty. The primary condition for levy of penalty is the existence of undisclosed income as per the disclosure made by the assessee under section 132(4). The term ‘undisclosed income’ has been defined in Explanations to section 271AAB. Therefore, as per the definition provided in the Explanation, the undisclosed income may have various forms

ANJU JAIN, LR SUSHIL JAIN,INDORE, MADHYA PRADESH vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, UJJAIN, UJJAIN, MADHYA PRADESH

Appeals are allowed

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

1) regarding the quantum of penalty. The primary condition for levy of penalty is the existence of undisclosed income as per the disclosure made by the assessee under section 132(4). The term ‘undisclosed income’ has been defined in Explanations to section 271AAB. Therefore, as per the definition provided in the Explanation, the undisclosed income may have various forms

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

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

1. Whether on the facts and circumstances of the case Ld. CIT(A) erred in law in holding that income derived by the company from leasing out properties in the mall falls under the head income from business and not under the head from income from house property, relying on Hon’ble Apex Court’s decision in the cases

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

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

1. Whether on the facts and circumstances of the case Ld. CIT(A) erred in law in holding that income derived by the company from leasing out properties in the mall falls under the head income from business and not under the head from income from house property, relying on Hon’ble Apex Court’s decision in the cases

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

1. Whether on the facts and circumstances of the case Ld. CIT(A) erred in law in holding that income derived by the company from leasing out properties in the mall falls under the head income from business and not under the head from income from house property, relying on Hon’ble Apex Court’s decision in the cases

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

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

1. Whether on the facts and circumstances of the case Ld. CIT(A) erred in law in holding that income derived by the company from leasing out properties in the mall falls under the head income from business and not under the head from income from house property, relying on Hon’ble Apex Court’s decision in the cases

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

4) of the Act were initiated subsequent to search proceeding carried out on Ramani Group on 30th August 2016. Certain loose papers were found having some details of salary payments, calculation of higher salary, cash payment, hand written details of income and expenditure which have been claimed by the assessee to be dumb documents and the detailed discussion with regard

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

4) of the Act were initiated subsequent to search proceeding carried out on Ramani Group on 30th August 2016. Certain loose papers were found having some details of salary payments, calculation of higher salary, cash payment, hand written details of income and expenditure which have been claimed by the assessee to be dumb documents and the detailed discussion with regard

SHRI SURENDRA SINGH BHATIA,INDORE vs. THE JCIT-3, INDORE

In the result, assessee’s appeal is allowed

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

section 41(1) of the Income-Tax Act] 1961. Likewise, in reply to the question No. 10, the appellant had declared undisclosed income to the extent of Rs.65,76,375/- on account of unexplained investment in certain property at Surat owned by one of the group companies namely M/s. Bhatia International Ltd.. Likewise, in reply to question No. 1

SHRI AMIT TIWARI,INDORE vs. THE DCIT (CENTRAL)-2, INDORE

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year:2015-16

4) of the Income-Tax Act, 1961 without testing whether the additional income fell within the definition of ‘undisclosed income’ as provided in Explanation to section 271AAB of the Income-Tax Act, 1961. Hence, penalty of Rs. 6,83,498/- as levied under section 271AAB of the Income-Tax Act, 1961 in absence of such a finding is neither legal

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

4) of s. 54F of the Act. The learned Counsel relied in the case of in the Shri Sushil Kumar Bafna, Ujjain v. ITO-1(1) /I.T.A. No. 637/Ind/2014/A.Y.:10-11 Page 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

M/S RAJIV GANDHI PROUDYOGIK VISHWAVIDHALYA,HOSANGABAD vs. DCIT CPC, BENGALURU

In the result, the appeal of the assessee in I

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 324 & 325/Ind/2018 "नधा"रणवष" / Assessment Years: 2014-15 & 2015-16 M/S. Rajiv Gandhi Proudyogiki Vs. Dcit, Vishwavidyalaya, Cpc, Bhopal Bangaluru

4. In view of settled principles as laid down on the basis of various supreme Court decisions, the instant appellant i.e. Rajiv Gandhi Prodougiki Visvawidayalaya has to pass through the above six principles besides certain statutory requirements like the approval of CBDT for the purpose of section 10(23C)(vi) of Income Tax Act, 1961 and also the requirements

M/S RAJIV GANDHI PROUDYOGIK VISHWAVIDHALYA,HOSANGABAD vs. DCIT CPC, BENGALURU

In the result, the appeal of the assessee in I

Bench: Shri Kul Bharat & Shri Manish Boradआ.अ.सं /.I.T.A. No. 324 & 325/Ind/2018 "नधा"रणवष" / Assessment Years: 2014-15 & 2015-16 M/S. Rajiv Gandhi Proudyogiki Vs. Dcit, Vishwavidyalaya, Cpc, Bhopal Bangaluru

4. In view of settled principles as laid down on the basis of various supreme Court decisions, the instant appellant i.e. Rajiv Gandhi Prodougiki Visvawidayalaya has to pass through the above six principles besides certain statutory requirements like the approval of CBDT for the purpose of section 10(23C)(vi) of Income Tax Act, 1961 and also the requirements

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

house property under as per provision of Section 27(iiib) of the Act . The Ld. A.R. has relied in the case of Nahalchand Laloochand (P) Ltd. vs. ACIT, Mumbai[2014] 52 taxmann.com 1567(SC)/ [2015] 228 Taxman 1(SC) wherein it was held that the essential condition, for a transfer of an immovable property referred to in clause

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

house property under as per provision of Section 27(iiib) of the Act . The Ld. A.R. has relied in the case of Nahalchand Laloochand (P) Ltd. vs. ACIT, Mumbai[2014] 52 taxmann.com 1567(SC)/ [2015] 228 Taxman 1(SC) wherein it was held that the essential condition, for a transfer of an immovable property referred to in clause

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

house property under as per provision of Section 27(iiib) of the Act . The Ld. A.R. has relied in the case of Nahalchand Laloochand (P) Ltd. vs. ACIT, Mumbai[2014] 52 taxmann.com 1567(SC)/ [2015] 228 Taxman 1(SC) wherein it was held that the essential condition, for a transfer of an immovable property referred to in clause

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

house property under as per provision of Section 27(iiib) of the Act . The Ld. A.R. has relied in the case of Nahalchand Laloochand (P) Ltd. vs. ACIT, Mumbai[2014] 52 taxmann.com 1567(SC)/ [2015] 228 Taxman 1(SC) wherein it was held that the essential condition, for a transfer of an immovable property referred to in clause