ACIT-5(1), INDORE vs. S T I INDIA LTD., INDORE

Appeals are disposed of as under:

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

13. Having apprised this, Ld. AR made a vehement submission on merit of the issue. He submitted that the present issue calls for interpretation of main body of section 43(1) and Explanation 10 thereto, which reads as under: “43. In sections 28 to 41 and in this section, unless the context otherwise requires— (1) "actual cost" means the actual

S T I INDIA LTD.,INDORE vs. ACIT-5(1), INDORE

Appeals are disposed of as under:

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

13. Having apprised this, Ld. AR made a vehement submission on merit of the issue. He submitted that the present issue calls for interpretation of main body of section 43(1) and Explanation 10 thereto, which reads as under: “43. In sections 28 to 41 and in this section, unless the context otherwise requires— (1) "actual cost" means the actual

S T I INDIA LTD.,INDORE vs. ACIT-5(1), INDORE

Appeals are disposed of as under:

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

13. Having apprised this, Ld. AR made a vehement submission on merit of the issue. He submitted that the present issue calls for interpretation of main body of section 43(1) and Explanation 10 thereto, which reads as under: “43. In sections 28 to 41 and in this section, unless the context otherwise requires— (1) "actual cost" means the actual

ACIT-5(1), INDORE vs. S T I INDIA LTD., INDORE

Appeals are disposed of as under:

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

13. Having apprised this, Ld. AR made a vehement submission on merit of the issue. He submitted that the present issue calls for interpretation of main body of section 43(1) and Explanation 10 thereto, which reads as under: “43. In sections 28 to 41 and in this section, unless the context otherwise requires— (1) "actual cost" means the actual

S T I INDIA LTD.,INDORE vs. ACIT-5(1), INDORE

Appeals are disposed of as under:

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

13. Having apprised this, Ld. AR made a vehement submission on merit of the issue. He submitted that the present issue calls for interpretation of main body of section 43(1) and Explanation 10 thereto, which reads as under: “43. In sections 28 to 41 and in this section, unless the context otherwise requires— (1) "actual cost" means the actual

ACIT-5(1), INDORE vs. S T I INDIA LTD., INDORE

Appeals are disposed of as under:

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

13. Having apprised this, Ld. AR made a vehement submission on merit of the issue. He submitted that the present issue calls for interpretation of main body of section 43(1) and Explanation 10 thereto, which reads as under: “43. In sections 28 to 41 and in this section, unless the context otherwise requires— (1) "actual cost" means the actual

NILIMA KOTHARI,INDORE vs. THE INCOME TAX OFFICER, NATIONAL FACELESS ASSTT. CENTRE, INDORE

In the result appeal of the assessee is allowed as per terms indicated above

Bench: Shri Manish Boradsmt. Neelima Kothari, Income Tax Officer, 601, N.R.K. Villas, Delhi Vs. 22/2 Manoramaganj, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Adnpk7832J Assessee By Shri S.S. Deshpande, Ar Revenue By Shri Ashish Porwal, Sr.Dr Date Of Hearing 08.08.2024 Date Of Pronouncement 20.09.2024

Section 149(1)(a) of the 1961 Act. [See Keenara Industries Pvt. Ltd. vs. ITO, Surat 2023 (3) TMI 104 (Gujarat High Court); Rajiv Bansal v. Union of India and Ors 2023 (2) TMI 1081 (Bombay High Court) and Mon Mohan Kohli (Delhi High Court) paras 86 to 89] 13 Smt. Nilima Kothari (c) The Instruction dated 11.05.2022 issued

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

13. Lastly, Ld. AR submitted that there are numerous judicial rulings wherein the said Explanation/definition of “Undisclosed income” have been interpretated and it has been categorically held that unless there is (i) any income represented by any money, bullion, jewellery or other valuable article or thing or any entry in the books of account or other documents or transactions found

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

Appeals are allowed

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

13. Lastly, Ld. AR submitted that there are numerous judicial rulings wherein the said Explanation/definition of “Undisclosed income” have been interpretated and it has been categorically held that unless there is (i) any income represented by any money, bullion, jewellery or other valuable article or thing or any entry in the books of account or other documents or transactions found

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

13. Lastly, Ld. AR submitted that there are numerous judicial rulings wherein the said Explanation/definition of “Undisclosed income” have been interpretated and it has been categorically held that unless there is (i) any income represented by any money, bullion, jewellery or other valuable article or thing or any entry in the books of account or other documents or transactions found

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

13. Lastly, Ld. AR submitted that there are numerous judicial rulings wherein the said Explanation/definition of “Undisclosed income” have been interpretated and it has been categorically held that unless there is (i) any income represented by any money, bullion, jewellery or other valuable article or thing or any entry in the books of account or other documents or transactions found

THE ACIT,CENTRAL CIRCLE-1, BHOPAL, BHOPAL vs. DB POWER LTD, BHOPAL

Appeal is dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S Db Power Limited, Acit, Central Circle-1, बनाम/ Office Block, 1A, Bhopal Vs. Db City Park, 5Th Floor, Corporate Block, Opp. M.P. Nagar Zone-1, Arera Hills, Bhopal (Pan:Aaccd5475F) (Assessee/Appellant) (Revenue/Respondent) Acit, Central Circle-1, M/S Db Power Limited, बनाम/ Bhopal Office Block, 1A, Vs. Db City Park, 5Th Floor, Corporate Block, Opp. M.P. Nagar Zone-1, Arera Hills, Bhopal (Pan:Aaccd5475F) (Revenue/Appellant) (Assessee/Respondent)

reassess such income and also any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings under this section, or recompute the loss or the depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections

DB POWER LTD,BHOPAL vs. THE ACIT,CENTRAL CIRCLE-1, BHOPAL, BHOPAL

Appeal is dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S Db Power Limited, Acit, Central Circle-1, बनाम/ Office Block, 1A, Bhopal Vs. Db City Park, 5Th Floor, Corporate Block, Opp. M.P. Nagar Zone-1, Arera Hills, Bhopal (Pan:Aaccd5475F) (Assessee/Appellant) (Revenue/Respondent) Acit, Central Circle-1, M/S Db Power Limited, बनाम/ Bhopal Office Block, 1A, Vs. Db City Park, 5Th Floor, Corporate Block, Opp. M.P. Nagar Zone-1, Arera Hills, Bhopal (Pan:Aaccd5475F) (Revenue/Appellant) (Assessee/Respondent)

reassess such income and also any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings under this section, or recompute the loss or the depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections

SMT. MEHA JAIN,JALGAON vs. DCIT (CENTRAL), BHOPAL

In the result, appeal of assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanismt. Meha Jain Dcit(Central) 40, Jay Nagar, Jilha Peth Bhopal Vs. Jalgaon Maharashtra (Appellant / Assessee) (Respondent/ Revenue) Pan: Aeipj 3170 N Assessee By Shri P.D. Nagar, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 18.05.2023 Date Of Pronouncement 24.05.2023

1), shall stand revived with effect from the date of receipt of the order of such annulment by the Commissioner. Therefore, the intention of the legislation seems to be that in case of search only the pending assessment/reassessment proceedings shall abate and the AO would assume the jurisdiction to assess or reassess the ‘total income’ for the entire six years

DCIT (CENTRAL), BHOPAL vs. SHAILENDRA SHARMA, BHOPAL

In the result the appeals of the assessee for the Assessment

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

1), shall stand revived with effect from the date of receipt of the order of such annulment by the Commissioner. Therefore, the intention of the legislation seems to be that in case of search only the pending assessment/reassessment proceedings shall abate and the AO would assume the jurisdiction to assess or reassess the total income for the entire six years

SHRI HUMAD JAIN SAKH SAHAKARI SANSTHA MARYADIT,INDORE vs. ITO 2(1), INDORE

Appeal is allowed

13,800 /- claimed u/s 80P.\"\nShri Humad Jain Sakh Sahakari Sanstha Maryadit\nITA No. 547/Ind/2024 – AY 2012-13\nGround No. 1 & 2:\n4. By means of these grounds, the assessee is raising a legal claim that\nthe AO's order is bad in law and illegal and must be annulled.\n5. With respect to these grounds, Ld. AR for assessee

INCOME TAX OFFICER-1(2), INDORE, INDORE vs. DIVINE INFRACREATION AND TRADING PRIVATE LIMITED, MUMBAI

Accordingly quash the assessment-order made by AO.\nThe assessee's ground is allowed

section 148 of the Act, which reads as under:\nPage 18 of 28\nDivine Infracreation and Trading Private Limited\nITA No. 272/Ind/2024 – AY 2010-11\n148. [(1)] Before making the assessment, reassessment or re-computation under\nsection (4 of 13

M/S RADHISHWARI DEVLOPERS P LTD,INDORE vs. PR CIT -2 INDORE, INDORE

In the result, Assessee’s appeal in ITANo

Bench: Hon’Ble Rajpal Yadav & Hon’Ble Manish Boradvirtual Hearing Assessment Year 2013-14 M/S. Radhishwari Developers P. Ltd. (Now Known As R.C. Warehousing Pvt. Ltd. ) Indore : Appellant Pan :Aafcr1916A V/S Pr. Cito-2 : Respondent Indore Appellant By S/Shri Sumit Nema Sr. Adv. With Gagan Tiwari & Piyush Parashar Advs. Revenue By Shri S.S. Mantri, Cit-Dr Date Of Hearing 24.05.2021 Date Of Pronouncement 20.07.2021

reassessment by invoking the provisions of section 263 may kindly be dropped. Without prejudice to the above as far as merit of the issues reaised in show-cause notice in question are concerned, we have to submit that the learned Assessing Officer has issued notices u/s 133(6) in loan creditor companies (supra). That after getting the requisite details