SHRI LAV NARANG,UJJAIN vs. PCIT,, UJJAIN

Bench: Shri Mahavir Prasad & Shri Manish Boradvirtual Hearing Assessment Year: 2015-16

house property, profit and gain of business, income from sale and profit of firm, income from capital gain and income from other source and after claiming the deduction u/s 80C of the Act total income has been shown at Rs. 49,15,731/- whereas surprisingly on looking to the assessment order dated 30.12.2017 we find that the assessment has been

SHRI PRABHAT SOJATIA,INDORE vs. THE ACIT 2(1), INDORE

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

Bench: Shri Kul Bharat & Shri Manish Borad

section 50C of the Act of Rs.35,46,018/-. The A.O. made addition of Rs.3,70,000/- in respect of the loans taken from his children. Further, the A.O. made disallowance of interest paid on term loan of Rs.9,38,756/-, disallowance of agricultural income of Rs.2 lakhs, cash deposited in the bank of Rs.7 lakhs, purchase of shares

SHRI SUNIL SOJATIA,INDORE vs. THE ACIT CIRCLE -2(1), INDORE

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

Bench: Shri Kul Bharat & Shri Manish Borad

section 50C of the Act of Rs.35,46,018/-. The A.O. made addition of Rs.3,70,000/- in respect of the loans taken from his children. Further, the A.O. made disallowance of interest paid on term loan of Rs.9,38,756/-, disallowance of agricultural income of Rs.2 lakhs, cash deposited in the bank of Rs.7 lakhs, purchase of shares