TURNING POINT ESTATES P LTD ,INDORE vs. THE ACIT 5(1), INDORE

In the result, appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniturning Point Estates Pvt. Ltd. Acit 5(1) 6Th Floor, Treasure Island, 11 Indore Vs Tukoganj Main Road . Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Aacct 7457 R Assessee By Shri Manjeet Sachdeva & Avinash Gaur, Ars Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 05.04.2023 Date Of Pronouncement 10.04.2023

section 271(1)(c) of the Income Tax Act. 05. That the penalty levied is not based on the facts of the case and needs to be deleted. 06. That the assessee company craves leave to add, alter, amend and/or delete any of the grounds of appeal. 2. The assesse is a Private Limited Company and engaged in the business

RIYAZ QURESHI ,JHABUA vs. INCOME TAX OFFICER, JHABUA

Appeals are allowed

Section 271(1)(c) of the Act of 1961, the penalty proceedings\nhad been initiated, i.e., whether for concealment of particulars of income or\nfurnishing of inaccurate particulars. The Tribunal while allowing the appeal of\nthe assessee, had relied on the decision of the Division Bench of Karnataka\nHigh Court decision in the case of CIT V/s. Manjunatha Cotton Ginning

RIYAZ QURESHI ,JHABUA vs. INCOME TAX OFFICER, INCOME TAX

Appeals are allowed

Section 271(1)(c) of the Act of 1961, the penalty proceedings\nhad been initiated, i.e., whether for concealment of particulars of income or\nfurnishing of inaccurate particulars. The Tribunal while allowing the appeal of\nthe assessee, had relied on the decision of the Division Bench of Karnataka\nHigh Court decision in the case of CIT V/s. Manjunatha Cotton Ginning

ACIT CENTRAL-2 , BHOPAL vs. M/S BALAJI FARMS AND REALITY , BHOPAL

Appeal is allowed and assessee’s cross-

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniacit (Central)-2, M/S.Balaji Farms & बनाम/ Bhopal Reality, Vs. 158,3Rd Floor, Zone-Ii, M.P.Nagar, Bhopal (Pan:Aalfb9630L) (Revenue/Appellant) (Assessee/Respondent)

158,3rd Floor, Zone-II, M.P.Nagar, Bhopal (PAN:AALFB9630L) (Assessee/Cross-Objector) (Revenue/Respondent) Assessee by Ms.Nisha Lahoti and Shri Vijay Bansal, ARs Revenue by Shri Ashish Porwal, Sr. DR Date of Hearing 12.03.2024 Date of Pronouncement 22.03.2024 आदेश / O R D E R Per B.M. Biyani, A.M.: Feeling aggrieved by appeal-order dated 21.03.2022 passed by Commissioner of Income-tax (Appeal

RIYAZ QURESHI ,JHABUA vs. INCOME TAX OFFICER, JHABUA

Appeals are allowed

Section 271(1)(c) of the Act of 1961, the penalty proceedings\nhad been initiated, i.e., whether for concealment of particulars of income or\nfurnishing of inaccurate particulars. The Tribunal while allowing the appeal of\nthe assessee, had relied on the decision of the Division Bench of Karnataka\nHigh Court decision in the case of CIT V/s. Manjunatha Cotton Ginning

SWAN PETRCHEMICALS PVT. LTD.,MUMBAI vs. NFAC DELHI, DELHI

In the result appeal of the assessee is dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S. Swan Petrochemicals Dcit (Central), Pvt.Ltd, Indore Unit No.308 Acme Plaza, Opp. Sangam Cinema, Vs. Andheri Kurlka, Maharashtra (Appellant / Assessee) (Respondent/ Revenue) Pan: Aabcr9592C Assessee By Shri Ajay Tulsiyan & Ms. Ruchira Singhal, Ars Revenue By Shri Ashish Porwal, Sr.Dr Date Of Hearing 22.05.2024 Date Of Pronouncement 16.07.2024 O R D E R

u/s 43(5) and further amendment of Clause-e to the said sub-section by Finance Act 2/2013 w.e.f 1.4.2014. Hence it was a bona fide claim of the assessee. He has further submitted that the entire loss of Rs.44.57 lakhs was incurred in the month of April 2013 and therefore, it cannot be planned to set off against

R.M CHEMICALS P LTD ,INDORE vs. THE DCIT/AIT 4 (1), INDORE

Appeal is allowed

Bench: Shri Vijay Pal Rao & Shrib.M. Biyaniassessment Year: 2013-14 M/S.R.M. Chemicals Acit , 4(1), Pvt.Ltd., Bhopal बनाम/ 74,Jumerati, Bhopal Vs. (Appellant / Assessee) (Respondent / Revenue) Pan: Aaacr7154D Assessee By Shri Hitesh Chimnani, Ca & Shri Yash Kukreja, Ca Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 05.04.2023 Date Of Pronouncement 03.07.2023

271(1)(c) of the Act of 1961 is not sustainable in law, as no specific charge was levied in penalty show-cause notices and allowed the appeal No.ITA (Appeal) 414/Ind/2012 and other five appeals. 11. On due consideration of the arguments of the learned counsel for the appellant, so also considering the fact that the ground mentioned in show

RAMA GARG,SEHORE vs. DCIT-3(1), BHOPAL, BHOPAL

In the result appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani(Assessment Year: 2012-13 Smt. Rama Garg, Dcit-3(1), Gadhi Chok, Bhopal Chota Bazar, Vs. Nasrullaganj, Sehore (Appellant / Assessee) (Respondent/ Revenue) Pan: Abcpg1140J Assessee By Shri R.K. Mangal, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 18.06.2024 Date Of Pronouncement 26.06.2024

158 and submitted that the disallowance of expenses cannot be mean that the assessee have furnished inaccurate 3 Smt. Rama Garg particulars of income. He has further contended that sorting and packaging is an essential part of the business of the assessee. The assessee has not claimed any other electricity expenses except the electricity expenses which are incurred exclusively

NAVIN KUMAR JAIN,INDORE vs. ITO ACIT DYCIT FACELESS ASSESSMENT, INDORE

In the result, both appeals of the assessee are allowed

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

158 CTR (Guj) 372: (2002) 258 ITR 654 (Guj) and Man Mohan Sadani vs. CIT (2008) 304 ITR 0052 and in recent case of Dwarka Prasad Tayal and another vs. ITO and Another, (2020) 60 CCH 0589 Indore Trib, (2021) 87 ITR (Trib) 0675 (Indore). Honourable Gujarat High Court in the case of CIT vs Gurubachhan Singh J Juneja reported

NAVIN KUMAR JAIN,INDORE vs. INCOME TAX OFFICER FACELESS ASSESSMENT CENTRE, INDORE

In the result, both appeals of the assessee are allowed

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

158 CTR (Guj) 372: (2002) 258 ITR 654 (Guj) and Man Mohan Sadani vs. CIT (2008) 304 ITR 0052 and in recent case of Dwarka Prasad Tayal and another vs. ITO and Another, (2020) 60 CCH 0589 Indore Trib, (2021) 87 ITR (Trib) 0675 (Indore). Honourable Gujarat High Court in the case of CIT vs Gurubachhan Singh J Juneja reported

ACIT-1(1), INDORE vs. KRITI NUTRIENTS LIMITED, INDORE

The appeal of the Revenue is allowed for statistical\npurposes

158 (Trib.Raipur)\ne) Waidhan Engg. & Industries P. Ltd vs. JCIT (2015) 26 ITJ 505\n(Trib.Jabalpur)\n(IV) Disallowance of Foreign Currency Fluctuation loss : ₹\n60,63,000/-\nWe submit that export sale invoices raised by the Co. are either discounted by\nthe bank or realized against Letter of Credit opened by buyers &\naccounted for based on prevailing Foreign Currency rate