ONEEL VERMA,NASHIK vs. ITO-5(1), BHOPAL

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri Siddhartha Nautiyal (Judicial Member), Shri B.M. Biyani (Accountant Member)

reassessment proceedings were initiated on the basis of AIR information indicating that the assessee had sold an immovable property situated at Bhopal during the relevant previous year. According to the Assessing Officer, the assessee had not filed a return of income and had not complied with the notices issued under section 148 and section 142(1). Since the notices were

SANYA DHANANI,INDORE vs. INCOME TAX OFFICER 1(4), INDORE

In the result the \"Impugned order” is upheld as the same\nhas set aside the “impugned assessment order” and has\nremanded the matter back to the file of Ld

reassessment proceedings were bad in law due to the lack of competent authority approval.", "held": "The Tribunal held that the CIT(A) rightly exercised his power under Section 251

SUNIL,INDORE vs. ITO 1(1), INDORE, INDORE

sections": [ "147", "144", "144B", "68", "271AAC", "272A(1)(d)", "148", "142(1)", "251(1)(a)" ], "issues": "Whether the reassessment proceedings

SANTOSH RATHORE,INDORE vs. PRINCIPAL COMMISSIONER OF INCOME TAX, INDORE - 1, INDORE

Appeal is allowed

Section 151 of the Act and are thus, without\njurisdiction and are void-ab initio.\nIn view of the above, we hereby most respectfully submit that the reassessment\nproceedings have been initiated merely to make further enquiry / roving enquiry /\nfishing enquiry without any basis and without any tangible material or information\non the basis of suspicion and incorrect reasons

M.P.MADHYAM,BHOPAL vs. THE ACIT EXEMPTION, BHOPAL

In the result, appeals of assessee for A

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

reassessment order passed u/s 143(3) r.w. section 147 the AO disallowed the benefit of section 11 & 12 and assessed the income of the assesse on commercial basis. Similar for A.Y.2016-17 & 2017-18 the AO while passing the assessment order u/s 143(3) has denied the claim of exemption u/s 11 & 12 and assessed the income of the assessee

M.P.MADHYAM,BHOPAL vs. THE DCIT EXEMPTION, BHOPAL

In the result, appeals of assessee for A

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

reassessment order passed u/s 143(3) r.w. section 147 the AO disallowed the benefit of section 11 & 12 and assessed the income of the assesse on commercial basis. Similar for A.Y.2016-17 & 2017-18 the AO while passing the assessment order u/s 143(3) has denied the claim of exemption u/s 11 & 12 and assessed the income of the assessee

M/S M.P. MADHYAM,BHOPAL vs. THE ACIT EXEMPTION, BHOPAL

In the result, appeals of assessee for A

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

reassessment order passed u/s 143(3) r.w. section 147 the AO disallowed the benefit of section 11 & 12 and assessed the income of the assesse on commercial basis. Similar for A.Y.2016-17 & 2017-18 the AO while passing the assessment order u/s 143(3) has denied the claim of exemption u/s 11 & 12 and assessed the income of the assessee

M.P.MADHYAM,BHOPAL vs. THE ACIT EXEMPTION, BHOPAL

In the result, appeals of assessee for A

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

reassessment order passed u/s 143(3) r.w. section 147 the AO disallowed the benefit of section 11 & 12 and assessed the income of the assesse on commercial basis. Similar for A.Y.2016-17 & 2017-18 the AO while passing the assessment order u/s 143(3) has denied the claim of exemption u/s 11 & 12 and assessed the income of the assessee

M/S SHIVALIKA REALITIES P LTD,INDORE vs. ITO 5(1) , INDORE

In the result of appeals of the assessee for AY 2008-09 and AY 2009-10 vide ITA no

Bench: Hon’Ble Rajpal Yadav & Shri Manish Boradvirtual Hearing Assessment Year: 2008-09 & Assessment Year: 2009-10

SECTION 292C OF THE ACT Your Honours, first of all, the loose papers and other papers found and seized from the premises of some other persons cannot be taken as an evidence under s.292C of the Act against the appellant company. It is therefore, merely on the basis of findings given in the case of some other assessees, without conducting

M/S SHIVALIKA REALITIES P LTD,INDORE vs. ITO 5(1) , INDORE

In the result of appeals of the assessee for AY 2008-09 and AY 2009-10 vide ITA no

Bench: Hon’Ble Rajpal Yadav & Shri Manish Boradvirtual Hearing Assessment Year: 2008-09 & Assessment Year: 2009-10

SECTION 292C OF THE ACT Your Honours, first of all, the loose papers and other papers found and seized from the premises of some other persons cannot be taken as an evidence under s.292C of the Act against the appellant company. It is therefore, merely on the basis of findings given in the case of some other assessees, without conducting

M/S SWADESH DEVLOPERS AND BUILDERS,BHOPAL vs. ASSISTANT COMMISSIONER OF INCOME TAX (CENTRAL)-2, BHOPAL

Bench: Shri Rajpal Yadav Hon'Ble & Shri Manish Borad

251 Taxmann Pg.22 (Bom.) e. PCIT vs. Lata Jain 384 ITR 543 (Del.) f. Sainath Colonizer vs. ACIT (ITANo.289 to 291/Ind/2017 dated 28.02.2019. 9. Further Ld. counsel for the assessee submitted that the Hon’ble Indore Tribunal in the case of Shri Omprakash Gupta vs. ACIT in IT(SS) No.277 to 281 A.Y. 2005-06 to 2012-13 held that

MS MAPAEX REMEDIES PVT LTD,BHOPAL vs. ACIT 2 (1) BHOPAL, BHOPAL

Appeals are dismissed

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

reassessment now sought to be done was merely a change in opinion. 15. However, the AO turned down objections of assessee through letter dated 05.11.2019, copy at Page 26A-26C of Paper-Book. Ld. AR submitted in this letter, the AO has basically mentioned that the case had been re- opened on the basis of subsequent scrutiny-assessment

MS MAPAEX REMEDIES PVT LTD,BHOPAL vs. ACIT 2 (1) BHOPAL, BHOPAL MADHYA PRADESH

Appeals are dismissed

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

reassessment now sought to be done was merely a change in opinion. 15. However, the AO turned down objections of assessee through letter dated 05.11.2019, copy at Page 26A-26C of Paper-Book. Ld. AR submitted in this letter, the AO has basically mentioned that the case had been re- opened on the basis of subsequent scrutiny-assessment

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -5(1), BHOPAL , BHOPAL, MADHYA PRADESH vs. MAPAEX REMEDIES PVT. LTD., BHOPAL MADHYA PRADESH

Appeals are dismissed

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

reassessment now sought to be done was merely a change in opinion. 15. However, the AO turned down objections of assessee through letter dated 05.11.2019, copy at Page 26A-26C of Paper-Book. Ld. AR submitted in this letter, the AO has basically mentioned that the case had been re- opened on the basis of subsequent scrutiny-assessment

MAPAEX REMEDIES PVT LTD ,BHOPAL vs. THE DCIT -2- (1), BHOPAL , BHOPAL

Appeals are dismissed

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

reassessment now sought to be done was merely a change in opinion. 15. However, the AO turned down objections of assessee through letter dated 05.11.2019, copy at Page 26A-26C of Paper-Book. Ld. AR submitted in this letter, the AO has basically mentioned that the case had been re- opened on the basis of subsequent scrutiny-assessment

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 5 1, BHOPAL , BHOPAL MADHYA PRADESH vs. MAPAEX REMEDIES PVT LTD, BHOPAL MADHYA PRADESH

Appeals are dismissed

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

reassessment now sought to be done was merely a change in opinion. 15. However, the AO turned down objections of assessee through letter dated 05.11.2019, copy at Page 26A-26C of Paper-Book. Ld. AR submitted in this letter, the AO has basically mentioned that the case had been re- opened on the basis of subsequent scrutiny-assessment

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE - 5(1), BHOPAL , BHOPAL MADHYA PRADESH vs. MAPAEX REMEDIES PVT LTD, BHOPAL MADHYA PRADESH

Appeals are dismissed

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

reassessment now sought to be done was merely a change in opinion. 15. However, the AO turned down objections of assessee through letter dated 05.11.2019, copy at Page 26A-26C of Paper-Book. Ld. AR submitted in this letter, the AO has basically mentioned that the case had been re- opened on the basis of subsequent scrutiny-assessment

ACIT (CENTRAL)-1 INDORE, INDORE vs. ESSENCE COMMODITIES (P) LTD., INDORE

In the result all the appeals of revenue for A

Bench: Shri Chandra Mohan Garg & Shri Bhagirath Mal Biyani

reassessment proceedings made detailed enquiry and established beyond doubt that the losses obtained by assessee on NMCE platform were contrived losses and these losses were incurred by executing the synchronized trade dealings in illiquid commodities. The Ld. CIT(DR) also submitted that Cross Objection No.17/Ind/2020 Cross Objection Nos.04 & 09/Ind/2021 Essence Commodities Pvt. Ltd., the losses were incurred with a specific

ACIT,CENTRAL-1, INDORE vs. M/S ESSENCE COMMODITIES P LTD, INDORE

In the result all the appeals of revenue for A

Bench: Shri Chandra Mohan Garg & Shri Bhagirath Mal Biyani

reassessment proceedings made detailed enquiry and established beyond doubt that the losses obtained by assessee on NMCE platform were contrived losses and these losses were incurred by executing the synchronized trade dealings in illiquid commodities. The Ld. CIT(DR) also submitted that Cross Objection No.17/Ind/2020 Cross Objection Nos.04 & 09/Ind/2021 Essence Commodities Pvt. Ltd., the losses were incurred with a specific