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

54,633/- which is not a revenue expenditure and must be treated as capital expenditure, and it is hereby being disallowed and added back to closing stock of the Assessee company. Page 4 of 9 Turning Point Estates P. Ltd. Page 5 of 9 Penalty proceedings u/s 271(1)(c) of the IT Act, 1961 is hereby being initiated separately

KESHAV KUMAR NACHANI,INDORE vs. DCIT-1(1), INDORE, INDORE

Accordingly, we are inclined to reject the condonation request and\nwe do so. Consequently, the appeal of AY 2010-11 is dismissed in\nlimine as being time-barred

section 271(1)(c). Copies of show-\ncause notices are placed in respective Paper-Books (Page 4 of Paper-Book of\nAY 2009-10, Page 3 of Paper-Book of AY 2010-11, Page 2 of Paper-Book of\nAY 2012-13). Ultimately, the AO imposed penalty u/s 271(1)(c) of Rs.\n51,46,802/-, Rs.4,54

RVR TECHNOLOGIES LTD.,MANDIDEEP vs. ITO-2(1), BHOPAL

In the result, appeal for A

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

271(1)(c) of the Act. Thus, Insofar as penalty under Section 271E is concemed, it was without any satisfaction and, therefore, no such penalty could be levied.” 10. Thus, the Hon’ble Supreme Court has affirmed the view of the Hon’ble High Court that in absence of satisfaction recorded regarding the penalty proceedings u/s 271E

RVR TECHNOLOGIES LTD.,MANDIDEEP vs. ADDL. CIT-RANGE-3, BHOPAL

In the result, appeal for A

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

271(1)(c) of the Act. Thus, Insofar as penalty under Section 271E is concemed, it was without any satisfaction and, therefore, no such penalty could be levied.” 10. Thus, the Hon’ble Supreme Court has affirmed the view of the Hon’ble High Court that in absence of satisfaction recorded regarding the penalty proceedings u/s 271E

RVR TECHNOLOGIES LTD.,MANDIDEEP vs. ACIT-3(1), BHOPAL

In the result, appeal for A

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

271(1)(c) of the Act. Thus, Insofar as penalty under Section 271E is concemed, it was without any satisfaction and, therefore, no such penalty could be levied.” 10. Thus, the Hon’ble Supreme Court has affirmed the view of the Hon’ble High Court that in absence of satisfaction recorded regarding the penalty proceedings u/s 271E

KESHAV KUMAR NACHANI,INDORE vs. DCIT-1(1), INDORE, INDORE

Accordingly, we are inclined to reject the condonation request and\nwe do so. Consequently, the appeal of AY 2010-11 is dismissed in\nlimine as being time-barred

section 271(1)(c). Copies of show-\ncause notices are placed in respective Paper-Books (Page 4 of Paper-Book of\nAY 2009-10, Page 3 of Paper-Book of AY 2010-11, Page 2 of Paper-Book of\nAY 2012-13). Ultimately, the AO imposed penalty u/s 271(1)(c) of Rs.\n51,46,802/-, Rs.4,54

KESHAV KUMAR NACHANI,INDORE vs. DCIT-1(1), INDORE, INDORE

Accordingly, we are inclined to reject the condonation request and\nwe do so. Consequently, the appeal of AY 2010-11 is dismissed in\nlimine as being time-barred

section 271(1)(c). Copies of show-\ncause notices are placed in respective Paper-Books (Page 4 of Paper-Book of\nAY 2009-10, Page 3 of Paper-Book of AY 2010-11, Page 2 of Paper-Book of\nAY 2012-13). Ultimately, the AO imposed penalty u/s 271(1)(c) of Rs.\n51,46,802/-, Rs.4,54

THE ACIT, (CENTRAL)-1, INDORE vs. M/S. PRAKASH ASHPHLTING & TOLL HIGHWAY LTD., INDORE

Appeals are dismissed

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

54,65,000 2,55,10,000 Interest Expenses paid by FY 08-09 82,03,684 PATH FY 09-10 58,55,122 FY 08-09 2,85,25,021 5,52,49,940 Cash transaction of PATH with directors & Relatives FY 09-10 1,46,61,842 5,37,00,603 7.2 All these figures as given

THE ACIT, (CENTRAL)-1, INDORE vs. M/S. PRAKASH ASHPHLTING & TOLL HIGHWAY LTD., INDORE

Appeals are dismissed

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

54,65,000 2,55,10,000 Interest Expenses paid by FY 08-09 82,03,684 PATH FY 09-10 58,55,122 FY 08-09 2,85,25,021 5,52,49,940 Cash transaction of PATH with directors & Relatives FY 09-10 1,46,61,842 5,37,00,603 7.2 All these figures as given

THE ACIT, (CENTRAL)-1, INDORE vs. M/S. PRAKASH ASHPHLTING & TOLL HIGHWAY LTD., INDORE

Appeals are dismissed

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

54,65,000 2,55,10,000 Interest Expenses paid by FY 08-09 82,03,684 PATH FY 09-10 58,55,122 FY 08-09 2,85,25,021 5,52,49,940 Cash transaction of PATH with directors & Relatives FY 09-10 1,46,61,842 5,37,00,603 7.2 All these figures as given

THE ACIT, (CENTRAL)-1, INDORE vs. M/S. PRAKASH ASHPHLTING & TOLL HIGHWAY LTD., INDORE

Appeals are dismissed

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

54,65,000 2,55,10,000 Interest Expenses paid by FY 08-09 82,03,684 PATH FY 09-10 58,55,122 FY 08-09 2,85,25,021 5,52,49,940 Cash transaction of PATH with directors & Relatives FY 09-10 1,46,61,842 5,37,00,603 7.2 All these figures as given

THE ACIT, (CENTRAL)-1, INDORE vs. M/S. PRAKASH ASHPHLTING & TOLL HIGHWAY LTD., INDORE

Appeals are dismissed

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

54,65,000 2,55,10,000 Interest Expenses paid by FY 08-09 82,03,684 PATH FY 09-10 58,55,122 FY 08-09 2,85,25,021 5,52,49,940 Cash transaction of PATH with directors & Relatives FY 09-10 1,46,61,842 5,37,00,603 7.2 All these figures as given

THE ACIT, (CENTRAL)-1, INDORE vs. M/S. PRAKASH ASHPHLTING & TOLL HIGHWAY LTD., INDORE

Appeals are dismissed

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

54,65,000 2,55,10,000 Interest Expenses paid by FY 08-09 82,03,684 PATH FY 09-10 58,55,122 FY 08-09 2,85,25,021 5,52,49,940 Cash transaction of PATH with directors & Relatives FY 09-10 1,46,61,842 5,37,00,603 7.2 All these figures as given

THE ACIT, (CENTRAL)-1, INDORE vs. M/S. PRAKASH ASHPHLTING & TOLL HIGHWAY LTD., INDORE

Appeals are dismissed

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

54,65,000 2,55,10,000 Interest Expenses paid by FY 08-09 82,03,684 PATH FY 09-10 58,55,122 FY 08-09 2,85,25,021 5,52,49,940 Cash transaction of PATH with directors & Relatives FY 09-10 1,46,61,842 5,37,00,603 7.2 All these figures as given

THE ACIT, (CENTRAL)-1, INDORE vs. M/S. PRAKASH ASHPHLTING & TOLL HIGHWAY LTD., INDORE

Appeals are dismissed

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

54,65,000 2,55,10,000 Interest Expenses paid by FY 08-09 82,03,684 PATH FY 09-10 58,55,122 FY 08-09 2,85,25,021 5,52,49,940 Cash transaction of PATH with directors & Relatives FY 09-10 1,46,61,842 5,37,00,603 7.2 All these figures as given

THE ACIT, (CENTRAL)-1, INDORE vs. M/S. PRAKASH ASHPHLTING & TOLL HIGHWAY LTD., INDORE

Appeals are dismissed

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

54,65,000 2,55,10,000 Interest Expenses paid by FY 08-09 82,03,684 PATH FY 09-10 58,55,122 FY 08-09 2,85,25,021 5,52,49,940 Cash transaction of PATH with directors & Relatives FY 09-10 1,46,61,842 5,37,00,603 7.2 All these figures as given

THE ACIT, (CENTRAL)-1, INDORE vs. M/S. PRAKASH ASHPHLTING & TOLL HIGHWAY LTD., INDORE

Appeals are dismissed

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

54,65,000 2,55,10,000 Interest Expenses paid by FY 08-09 82,03,684 PATH FY 09-10 58,55,122 FY 08-09 2,85,25,021 5,52,49,940 Cash transaction of PATH with directors & Relatives FY 09-10 1,46,61,842 5,37,00,603 7.2 All these figures as given

THE ACIT, (CENTRAL)-1, INDORE vs. M/S. PRAKASH ASHPHLTING & TOLL HIGHWAY LTD., INDORE

Appeals are dismissed

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

54,65,000 2,55,10,000 Interest Expenses paid by FY 08-09 82,03,684 PATH FY 09-10 58,55,122 FY 08-09 2,85,25,021 5,52,49,940 Cash transaction of PATH with directors & Relatives FY 09-10 1,46,61,842 5,37,00,603 7.2 All these figures as given