JAI PRAKASH SHAHANI,INDORE vs. INCOME TAX OFFICER - NFAC, DELHI

In the result, appeal of the assessee is allowed

Bench: Shri Manish Boradjai Prakashshahani, Income Tax Officer, Prop. M/S Jai Prakash Impex, Nfac, Delhi Vs. 73, New Palasia, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Apqps7948G Assessee By Ms. Ruchira Singhal, Ar Revenue By Shri Ashish Porwal, Sr.Dr Date Of Hearing 27.02.2025 Date Of Pronouncement 29.04.2025

bogus purchase made by the assessee from M/s Garima Enterprises, he has to take note of Income Tax Return filed by the assessee and also the assessment records of the proceedings carried out u/s 143(3) of the Act. Now for reopening the case u/s 8 Jai PrakashShahani– A.Y 2014-15 147 of the Act where the assessee has already

KAMAL PANJWANI,INDORE vs. THE ACIT 3 (1), INDORE

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

purchases of such items. Since Shri N.P. Panjwani has surrendered these items in case of company the action is being taken in case of company. In view of the court decisions which have been adduced above which clearly say that in cash of doubt whether particular income belongs to ‘A’ or ‘B’, the action under section 147 in the hands

KAMAL PANJWANI,INDORE vs. THE ACIT 3 (1), INDORE

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

purchases of such items. Since Shri N.P. Panjwani has surrendered these items in case of company the action is being taken in case of company. In view of the court decisions which have been adduced above which clearly say that in cash of doubt whether particular income belongs to ‘A’ or ‘B’, the action under section 147 in the hands

KAMAL PANJWANI,INDORE vs. THE ACIT 3 (1), INDORE

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

purchases of such items. Since Shri N.P. Panjwani has surrendered these items in case of company the action is being taken in case of company. In view of the court decisions which have been adduced above which clearly say that in cash of doubt whether particular income belongs to ‘A’ or ‘B’, the action under section 147 in the hands

KAMAL PANJWANI,INDORE vs. THE ACIT 3 (1), INDORE

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

purchases of such items. Since Shri N.P. Panjwani has surrendered these items in case of company the action is being taken in case of company. In view of the court decisions which have been adduced above which clearly say that in cash of doubt whether particular income belongs to ‘A’ or ‘B’, the action under section 147 in the hands

KAMAL PANJWANI,INDORE vs. THE ACIT 3 (1), INDORE

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

purchases of such items. Since Shri N.P. Panjwani has surrendered these items in case of company the action is being taken in case of company. In view of the court decisions which have been adduced above which clearly say that in cash of doubt whether particular income belongs to ‘A’ or ‘B’, the action under section 147 in the hands

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

147 r.w.section 144B of the Act dated 24.05.2023 treating the LTCG claimed by the assessee as bogus and made addition u/s 68 of the Act at Rs.24,46,824/-. The AO also made an addition for unexplained expenditure u/s 69C at Rs. 1,22,341/-. Income assessed at Rs.30,11,605/-. Aggrieved the assessee preferred an appeal before

DCIT KHANDWA, KHANDWA vs. M/S RAJRAJESHWAR COTTON CORPORATION, SENDHWA

In the result, Revenue’s appeal as well as Assessee’s Cross-

Bench: Shri Siddhartha Nautiyal & Shri B.M. Biyani(Conducted Through Virtual Court) & C.O. No. 9/Ind/2020 Assessment Year: 2011-12 Dcit M/S Raj Rajeshwar Cotton Khandwa Corporation, बनाम/ Warla Road, Sendhwa, Vs. District - Khandwa (Appellant / Revenue) (Respondent / Assessee) Pan: Aagfr 6243 N Assessee By None Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 12.10.2022 Date Of Pronouncement 21.10.2022

u/s 143(1) cannot be reopened without proper 'reason to believe'. If the reasons state that the information was received from the VAT Dept that the assessee had entered into bogus purchase 'needed deep verification', it means the 'AO is reopening for doing a 'fishing or roving inquiry' without proper reason to believe which is not permissible. Court also observed

THE ACIT CIRCLE,RATLAM vs. M/S. MAHALAXMI INVESTMENT AND TRADING PVT. LTD., RATLAM

Bench: Shri Manish Borad & Miss Madhumita Roy

bogus bills. Based on this information notice was issued by Ld. AO u/s 148 of the Act. 14. However, records shows that after receiving the information Ld. AO has not made an independent application of mind on the information. Before initiating the reassessment proceedings in motion he was bound to examine the facts related to the purchase from M/s. Motion

THE ACIT, CIRCLE, RATLAM vs. M/S. MAHALAXMI INVESTMENT AND TRADING PVT. LTD., RATLAM

Bench: Shri Manish Borad & Miss Madhumita Roy

bogus bills. Based on this information notice was issued by Ld. AO u/s 148 of the Act. 14. However, records shows that after receiving the information Ld. AO has not made an independent application of mind on the information. Before initiating the reassessment proceedings in motion he was bound to examine the facts related to the purchase from M/s. Motion

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

In the result, appeal for A

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

reassessment. 2. On the facts and in the circumstances of the case, the honourable CIT(A) was not justified in upholding that the receipt from job work of mixing of rubber at Rs. 34,19,894 was not the business receipts/income and in confirming the same was income from other sources. 3.On the facts and in the circumstances

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

In the result, appeal for A

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

reassessment. 2. On the facts and in the circumstances of the case, the honourable CIT(A) was not justified in upholding that the receipt from job work of mixing of rubber at Rs. 34,19,894 was not the business receipts/income and in confirming the same was income from other sources. 3.On the facts and in the circumstances

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

reassessment. 2. On the facts and in the circumstances of the case, the honourable CIT(A) was not justified in upholding that the receipt from job work of mixing of rubber at Rs. 34,19,894 was not the business receipts/income and in confirming the same was income from other sources. 3.On the facts and in the circumstances

SEEMA LUNAWAT,RATLAM vs. INCOME TAX OFFICER, MANDSAUR

Appeal is allowed

bogus LTCG/STCL. However, the AO did not specify any\ntransaction related to the alleged scrip, also the Ld. AO could not mention that\nwhether it was purchased or sold, thereby proving that the case was reopened on\nbaseless assumptions.\n(d) The reasons for reopening mention, \"escapement of income of Rs.189,650/-",\nwhereas the AO, in the assessment order, added

SHRI BHAWANI SHANKAR PARASHAR,INDORE vs. THE DCIT/ACIT 1 (2), INDORE

In the result, appeal of assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanishri Bhawani Shankar Pr. Cit-1 Prashar Indore 28, Lasudia Mori, Vijay Vs. Nagar, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Bgbpp 2475 G Assessee By Shri S.N. Agrawal, Ar Revenue By Shri P.K. Mishra, Cit-Dr Date Of Hearing 02.05.2023 Date Of Pronouncement 21.06.2023

reassessment proceedings since those notices were in their knowledge as they were served physically. However, show cause notices and order passed by the Ld Principal Commissioner of Income Tax-1, Indore was never served physically to the appellant as a result of which the appellant was totally unaware of the fact that show cause notices had been issued and order

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

bogus losses or gain for the beneficiaries / clients and relying on such reports of DIT (I&CI) dated 04.02.2014 and the fact that the NMCE exchange has imposed penalties on the brokers for CO Nos.2 to 4/Ind/2022 their misconduct and disallowed the loss of Rs. 5,44,57,527/- through these brokers as non-genuine claim. Thereafter, during the course

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

bogus losses or gain for the beneficiaries / clients and relying on such reports of DIT (I&CI) dated 04.02.2014 and the fact that the NMCE exchange has imposed penalties on the brokers for CO Nos.2 to 4/Ind/2022 their misconduct and disallowed the loss of Rs. 5,44,57,527/- through these brokers as non-genuine claim. Thereafter, during the course

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

bogus losses or gain for the beneficiaries / clients and relying on such reports of DIT (I&CI) dated 04.02.2014 and the fact that the NMCE exchange has imposed penalties on the brokers for CO Nos.2 to 4/Ind/2022 their misconduct and disallowed the loss of Rs. 5,44,57,527/- through these brokers as non-genuine claim. Thereafter, during the course