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

271 are mentioned would not satisfy the requirement of law; The assessee should know the grounds which he has to meet specifically. Otherwise, the principles of natural justice are offended. On the basis of such proceedings, no penalty could be imposed on the assessee; taking up of penalty proceedings on one limb and finding the assessee guilty of another limb

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

271 are mentioned would not satisfy the requirement of law; The assessee should know the grounds which he has to meet specifically. Otherwise, the principles of natural justice are offended. On the basis of such proceedings, no penalty could be imposed on the assessee; taking up of penalty proceedings on one limb and finding the assessee guilty of another limb

HIRAMANI AJIT KUMAR JAIN,RATLAM vs. ITO-1, RATLAM, RATLAM

The appeal of the assessee is allowed for statistical purpose

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanishri Hiramani Ajit Kumar Jain, Income Tax Officer-1, 77, Tashakand Marg, Ratlam Vs. Ratlam (Appellant / Assessee) (Respondent/ Revenue) Pan: Agcph3330A Assessee By Shri Gagan Tiwari, Ar Revenue By Shri Ashish Porwal, Sr.Dr Date Of Hearing 16.10.2024 Date Of Pronouncement 16.10.2024 O R D E R

4 & 5 issued under Vivad se Viswas Scheme as same was related to penalty appeals against the penalty orders u/s 271(1) (b) & 271F. 2 Shri Hiramani Ajit Kumar Jain 1.2 That the ADDL/JCIT(A) 2 Hyderabad has erred in passing order without application of mind. 1.3 That the ADDL/JCIT(A) 2 Hyderabad has wrongly drawn inference that Assessee

AMIT ASHOK AGRAWAL,INDORE vs. ITO-2(2), INDORE

In the result, the quantum appeal of assessee is partly allowed for statistical purposes and penalty appeal of assesse is allowed

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

b. Rs.1,00,000/- in Merrill Lynch Equity Fund on 30.05.2007 through Citibank A/c (Online Txn) which was redeemed on 06.07.2007 of Rs.1,01,929.81 thereby, earning a growth of Rs.1,929.81; In this manner, the total growth on Mutual Fund is of Rs.7,041/- and not of Rs.57,040/- as added by Ld. AO. Hence, deletion of Rs.50

AMIT ASHOK AGRAWAL,INDORE vs. ITO-2(2), INDORE

In the result, the quantum appeal of assessee is partly allowed for statistical purposes and penalty appeal of assesse is allowed

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

b. Rs.1,00,000/- in Merrill Lynch Equity Fund on 30.05.2007 through Citibank A/c (Online Txn) which was redeemed on 06.07.2007 of Rs.1,01,929.81 thereby, earning a growth of Rs.1,929.81; In this manner, the total growth on Mutual Fund is of Rs.7,041/- and not of Rs.57,040/- as added by Ld. AO. Hence, deletion of Rs.50

THE ACIT,CENTRAL-1, INDORE vs. M/S PRAKASH OILS LTD., DHAR

In the result, the above captioned appeals filed by the Revenue as well as the

Bench: Shri C.M. Garg & Shri Bhagirath Mal Biyani

120 to CO Nos.2 to 4/Ind/2022 123/Kol/2018 vide order dated 04.12.2020 had an occasion to deal with the identical case. The sole issue involved was the disallowance of loss incurred by the assessee in trading of commodities on the NMCE treating it to be bogus. In this case also survey u/s 133 A of the Act was conducted

THE ACIT ,CENTRAL-1, INDORE vs. M/S PRAKASH OILS LTD., DHAR

In the result, the above captioned appeals filed by the Revenue as well as the

Bench: Shri C.M. Garg & Shri Bhagirath Mal Biyani

120 to CO Nos.2 to 4/Ind/2022 123/Kol/2018 vide order dated 04.12.2020 had an occasion to deal with the identical case. The sole issue involved was the disallowance of loss incurred by the assessee in trading of commodities on the NMCE treating it to be bogus. In this case also survey u/s 133 A of the Act was conducted

THE ADDL. CIT RANGE -1, INDORE vs. M/S PRAKASH OILS LTD., DHAR

In the result, the above captioned appeals filed by the Revenue as well as the

Bench: Shri C.M. Garg & Shri Bhagirath Mal Biyani

120 to CO Nos.2 to 4/Ind/2022 123/Kol/2018 vide order dated 04.12.2020 had an occasion to deal with the identical case. The sole issue involved was the disallowance of loss incurred by the assessee in trading of commodities on the NMCE treating it to be bogus. In this case also survey u/s 133 A of the Act was conducted

THE DCIT, 2(1), INDORE vs. SHRI OMPRAKASH DHANWANI, INDORE

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

penalty proceedings u/s 271(1)(c) initiated separately. Addition : Rs. 2,96,44,454/-.” Thus, for the AY 2012-13, the AO made addition of Rs. 51,20,79,310/- in gold business and Rs. 2,96,44,454/- in silver business. With identical observations, the AO also made additions of varying amounts

THE DCIT, 2(1), INDORE vs. SHRI OMPRAKASH DHANWANI, INDORE

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

penalty proceedings u/s 271(1)(c) initiated separately. Addition : Rs. 2,96,44,454/-.” Thus, for the AY 2012-13, the AO made addition of Rs. 51,20,79,310/- in gold business and Rs. 2,96,44,454/- in silver business. With identical observations, the AO also made additions of varying amounts

THE DCIT, 2(1), INDORE vs. SHRI OMPRAKASH DHANWANI, INDORE

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

penalty proceedings u/s 271(1)(c) initiated separately. Addition : Rs. 2,96,44,454/-.” Thus, for the AY 2012-13, the AO made addition of Rs. 51,20,79,310/- in gold business and Rs. 2,96,44,454/- in silver business. With identical observations, the AO also made additions of varying amounts

THE ACIT, CENTRAL-1, INDORE vs. M/S. MANISH AGRO TECH PVT. LTD., INDORE

In the result grounds of revenue for A

Bench: Shri Chandra Mohan Garg & Shri Bhagirath Mal Biyani

120 to 123/Kol/2018 vide its recent order dated 04.12.2020 22 had an occasion to deal with the identical case. The sole issue involved was the disallowance of loss incurred by the assessee in trading of commodities on the NMCE treating it to be bogus. In this case also survey u/s 133A was conducted on 18.12.2014 by the Investigation Wing Ahmedabad

THE ACIT, CENTRAL-1, INDORE vs. M/S. MANISH AGRO TECH PVT. LTD., INDORE

In the result grounds of revenue for A

Bench: Shri Chandra Mohan Garg & Shri Bhagirath Mal Biyani

120 to 123/Kol/2018 vide its recent order dated 04.12.2020 22 had an occasion to deal with the identical case. The sole issue involved was the disallowance of loss incurred by the assessee in trading of commodities on the NMCE treating it to be bogus. In this case also survey u/s 133A was conducted on 18.12.2014 by the Investigation Wing Ahmedabad