M/S SHEETU EDUCATIONAL SERVICE PVT LTD.,INDORE vs. THE DCIT 5(1), INDORE

In the result, all the appeals of the assessee for assessment year 2005-06 to 2010-11 are partly allowed as per our

Bench: Shri D.T. Garasia & Shri O.P. Meena

forward the same for set off in next year’s. This loss includes Rs 6,65,769/- for depreciation on building, which was rented to M/s Jasleen Education Service Society, without consideration. The assessee has claimed depreciation, which is not allowable as the building has not been utilized for the business purpose of the assessee. Further the assessee has also

M/S. SHEETU EDUCATIONAL SERVICES P. LTD.,INDORE vs. THE DCIT 5(1), INDORE

In the result, all the appeals of the assessee for assessment year 2005-06 to 2010-11 are partly allowed as per our

Bench: Shri D.T. Garasia & Shri O.P. Meena

forward the same for set off in next year’s. This loss includes Rs 6,65,769/- for depreciation on building, which was rented to M/s Jasleen Education Service Society, without consideration. The assessee has claimed depreciation, which is not allowable as the building has not been utilized for the business purpose of the assessee. Further the assessee has also

M/S SHEETU EDUCATIONAL SERVICE PVT LTD.,INDORE vs. THE DCIT 5(1), INDORE

In the result, all the appeals of the assessee for assessment year 2005-06 to 2010-11 are partly allowed as per our

Bench: Shri D.T. Garasia & Shri O.P. Meena

forward the same for set off in next year’s. This loss includes Rs 6,65,769/- for depreciation on building, which was rented to M/s Jasleen Education Service Society, without consideration. The assessee has claimed depreciation, which is not allowable as the building has not been utilized for the business purpose of the assessee. Further the assessee has also

M/S. SHEETU EDUCATIONAL SERVICES P. LTD.,INDORE vs. THE DCIT 5(1), INDORE

In the result, all the appeals of the assessee for assessment year 2005-06 to 2010-11 are partly allowed as per our

Bench: Shri D.T. Garasia & Shri O.P. Meena

forward the same for set off in next year’s. This loss includes Rs 6,65,769/- for depreciation on building, which was rented to M/s Jasleen Education Service Society, without consideration. The assessee has claimed depreciation, which is not allowable as the building has not been utilized for the business purpose of the assessee. Further the assessee has also

M/S. SHEETU EDUCATIONAL SERVICES P LTD.,INDORE vs. THE DCIT 5(1) RANGE-5, INDORE

In the result, all the appeals of the assessee for assessment year 2005-06 to 2010-11 are partly allowed as per our

Bench: Shri D.T. Garasia & Shri O.P. Meena

forward the same for set off in next year’s. This loss includes Rs 6,65,769/- for depreciation on building, which was rented to M/s Jasleen Education Service Society, without consideration. The assessee has claimed depreciation, which is not allowable as the building has not been utilized for the business purpose of the assessee. Further the assessee has also

ACIT (CENTRAL UJJAIN, UJJAIN vs. M/S ARIHANT FUTURE AND COMMODITIES LTD, INDORE

Bench: Shri Mahavir Prasad, Judicialmember & Shri Manish Boradvirtual Hearing &

carried out on 29.12.2015 which continued till 02.01.2016. Regular assessment u/s 143(3) was made by Deputy Commissioner of Income Tax (Central – 1), Indore on 16.12.2016 wherein the returned income was accepted. Later on the case was reopened u/s 148 vide notice dated 10.12.2018 and the reassessment proceedings were completed by passing the order u/s 143(3) r.w.s. 147

THE ACIT ,CENTRAL-UJJAIN, INDORE vs. M/S ARIHANT CAPITALS MARKETS LTD , INDORE

Bench: Shri Mahavir Prasad, Judicialmember & Shri Manish Boradvirtual Hearing &

carried out on 29.12.2015 which continued till 02.01.2016. Regular assessment u/s 143(3) was made by Deputy Commissioner of Income Tax (Central – 1), Indore on 16.12.2016 wherein the returned income was accepted. Later on the case was reopened u/s 148 vide notice dated 10.12.2018 and the reassessment proceedings were completed by passing the order u/s 143(3) r.w.s. 147

THE ACIT, CENTRAL - UJJAIN, INDORE vs. M/S ARIHANT FUTURE & COMMADITIES LTD , INDORE

Bench: Shri Mahavir Prasad, Judicialmember & Shri Manish Boradvirtual Hearing &

carried out on 29.12.2015 which continued till 02.01.2016. Regular assessment u/s 143(3) was made by Deputy Commissioner of Income Tax (Central – 1), Indore on 16.12.2016 wherein the returned income was accepted. Later on the case was reopened u/s 148 vide notice dated 10.12.2018 and the reassessment proceedings were completed by passing the order u/s 143(3) r.w.s. 147

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

loss account under the head “cost of material consumed”. 4.1 That the Ld. CIT(A) and AO was not justified in holding that the direct and production expenses claimed under various heads were to borne by the M/s. Procter and Gamble and not by assessee without looking into facts and audited balance sheet submitted during the hearing before both authorities

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

Appeals are dismissed

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

loss account under the head “cost of material consumed”. 4.1 That the Ld. CIT(A) and AO was not justified in holding that the direct and production expenses claimed under various heads were to borne by the M/s. Procter and Gamble and not by assessee without looking into facts and audited balance sheet submitted during the hearing before both authorities

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

loss account under the head “cost of material consumed”. 4.1 That the Ld. CIT(A) and AO was not justified in holding that the direct and production expenses claimed under various heads were to borne by the M/s. Procter and Gamble and not by assessee without looking into facts and audited balance sheet submitted during the hearing before both authorities

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

loss account under the head “cost of material consumed”. 4.1 That the Ld. CIT(A) and AO was not justified in holding that the direct and production expenses claimed under various heads were to borne by the M/s. Procter and Gamble and not by assessee without looking into facts and audited balance sheet submitted during the hearing before both authorities

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

loss account under the head “cost of material consumed”. 4.1 That the Ld. CIT(A) and AO was not justified in holding that the direct and production expenses claimed under various heads were to borne by the M/s. Procter and Gamble and not by assessee without looking into facts and audited balance sheet submitted during the hearing before both authorities

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

Appeals are dismissed

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

loss account under the head “cost of material consumed”. 4.1 That the Ld. CIT(A) and AO was not justified in holding that the direct and production expenses claimed under various heads were to borne by the M/s. Procter and Gamble and not by assessee without looking into facts and audited balance sheet submitted during the hearing before both authorities

M/S AD-MANUM FINANCE LTD.,INDORE vs. THEDCIT 1(1) , INDORE, INDORE

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Boradassessment Year 2010-11

reassessment proceedings after an expiry of four years from the end of the relevant assessment years on the basis of certain information coming to his possession later on after obtaining approval from competent authority. Further, there is no restriction in the Income Tax Act that the case cannot be reopened u/s 14B on the basis of information collected during

THE DCIT1(1), INDORE vs. M/S. AVILABLE FINANCE LTD., INDORE

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Boradassessment Year 2010-11

reassessment proceedings after an expiry of four years from the end of the relevant assessment years on the basis of certain information coming to his possession later on after obtaining approval from competent authority. Further, there is no restriction in the Income Tax Act that the case cannot be reopened u/s 14B on the basis of information collected during

DY. CIT -1(1), INDORE vs. M/S. AGRAWAL TRANSPORT CORPORATION (P) LTD., INDORE

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Boradassessment Year 2010-11

reassessment proceedings after an expiry of four years from the end of the relevant assessment years on the basis of certain information coming to his possession later on after obtaining approval from competent authority. Further, there is no restriction in the Income Tax Act that the case cannot be reopened u/s 14B on the basis of information collected during

JAYANTILAL SANGHVI,INDORE vs. ACIT 4(1), INDORE

Appeal is partly allowed for statistical purpose

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2012-13 Jayantilal Sanghvi, Acit, 8/10, Warehouse Road, 4(1), बनाम/ Patel Bridge, Indore. Vs. Indore. (Assessee/Appellant) (Revenue/Respondent) Pan: Agtps5825Q Assessee By Shri Venus Rawka, C.A. Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 12.06.2024 Date Of Pronouncement .06.2024

reassessment. Again, the details recorded in the books and considered during the original assessment were in the absence of the investigation report received by the AO who issued the notice u/s 148 of the Act. The investigation report unearthed the scam that was involved in this case and in fact pierced the veil to show the real purpose and substance