ACIT(CENTRAL)-1, INDORE, INDORE vs. SHRI RAUNAK MARU, INDORE

The appeals of the Revenue are dismissed

Bench: Shri Mahavir Prasad & Shri Manish Borad

5 in his order and his observations in the case of Shri Rajul Bhargava are abstracted here under:- Ground No 4- Through this ground of appeal the appellant has challenged that the original assessment for this year was completed u/s 153A and therefore, reassessment proceedings u/s 148 could not have been legally initiated in this case. The appellant also filed

SANJEEV AGRAWAL ,BHOPAL vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL-2, BHOPAL

Appeal is allowed

reassessment proceedings.”\nThus, in the light of judicial rulings cited above, it is clear that the\nAO's action of resorting to re-assessment u/s 147 by-passing the\ncompulsory scrutiny mandated by CBDT Instruction, is invalid and hence\nthe assessment framed by AO u/s 147 cannot be sustained. Therefore, we\nquash the order passed by AO. The assessee succeeds

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

147, Section 148, Section 149, Section 151 and Section 153, in the case of a person where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132-A after the 31st day of May, 2003, the Assessing Officer shall- (a) issue notice to such person requiring him to furnish

ASSISTANT COMMISSIONER OF INCOME TAX (CENTRAL)-1, INDORE vs. SHRI RITESH JAIN, INDORE

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani & It(Ss)Ano.14/Ind/2022 (Assesssment Year 2011-12

reassessment framed by the AO u/s 147 r.w. section 143(3) without a valid notice u/s 143(2) is not valid and liable to be quashed as held by the Hon’ble Supreme Court in case of ACIT vs. Hotel Blue Moon 321 ITR 362. 7. The next objection of the assessee is against the validity of the order passed

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

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

132(4) wherein a surrender of undisclosed assets/income of Rs. 51,57,000/- was made by assessee. Post- search, the AO recorded reasons dated 30.04.1993, issued notices dated 27.05.1993 u/s 148 and thereby took action u/s 147 for AY 1988-89 to 1992-93 as per provisions of the Act existing at the relevant time to deal search-cases

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

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

132(4) wherein a surrender of undisclosed assets/income of Rs. 51,57,000/- was made by assessee. Post- search, the AO recorded reasons dated 30.04.1993, issued notices dated 27.05.1993 u/s 148 and thereby took action u/s 147 for AY 1988-89 to 1992-93 as per provisions of the Act existing at the relevant time to deal search-cases

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

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

132(4) wherein a surrender of undisclosed assets/income of Rs. 51,57,000/- was made by assessee. Post- search, the AO recorded reasons dated 30.04.1993, issued notices dated 27.05.1993 u/s 148 and thereby took action u/s 147 for AY 1988-89 to 1992-93 as per provisions of the Act existing at the relevant time to deal search-cases

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

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

132(4) wherein a surrender of undisclosed assets/income of Rs. 51,57,000/- was made by assessee. Post- search, the AO recorded reasons dated 30.04.1993, issued notices dated 27.05.1993 u/s 148 and thereby took action u/s 147 for AY 1988-89 to 1992-93 as per provisions of the Act existing at the relevant time to deal search-cases

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

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

132(4) wherein a surrender of undisclosed assets/income of Rs. 51,57,000/- was made by assessee. Post- search, the AO recorded reasons dated 30.04.1993, issued notices dated 27.05.1993 u/s 148 and thereby took action u/s 147 for AY 1988-89 to 1992-93 as per provisions of the Act existing at the relevant time to deal search-cases

BHARGAVI KESWANI,INDORE vs. ASST. COMMISSIONER OF INCOME TAX (CENTRAL)- II, BHOPAL , BHOPAL

Appeals are allowed

reassess taking into consideration the other material in\nrespect of completed assessments/unabated assessments. Meaning\nthereby, in respect of completed/unabated assessments, no addition can\nbe made by the AO in absence of any incriminating material found\nduring the course of search under Section 132 or requisition\nunder Section 132A of the Act, 1961. However, the completed/unabated\nassessments can be re-opened

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

In the result, assessee’s ITA No

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani(Conducted Through Virtual Court) Assessment Year: 2008-09 Prakash Asphaltings & Toll Acit (Central)-1 Of Highway (India) Ltd., Indore बनाम/ 76, Mall Road, Vs. Mhow (Appellant / Assessee) (Respondent / Revenue) Assessment Year: 2008-09 Acit, Central-1, Prakash Asphaltings & Indore Toll Of Highway (India) बनाम/ Ltd., 76, Mall Road, Vs. Mhow (Appellant / Revenue) (Respondent / Assessee)

132 of the Act was conducted on the business premises of Agroh Infrascucture Developers Pvt. ltd. (AIDPL) and Prakash Asphalting and Toll Highways (India) Ltd. (PATH). Subsequently, the assessment order was passed u/s 143(3) r.w.s. 147 of the I.T. Act 1961 on 03.03.2016 for A.Y. 2008-09 in both the cases. Page 16 of 22 Prakash Asphalting & Toll Highways

ACIT(CENTRAL)-1, INDORE vs. PRAKASH ASPHALTINGS & TOLL HIGHWAYS (INDIA) LTD., MHOW

In the result, assessee’s ITA No

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani(Conducted Through Virtual Court) Assessment Year: 2008-09 Prakash Asphaltings & Toll Acit (Central)-1 Of Highway (India) Ltd., Indore बनाम/ 76, Mall Road, Vs. Mhow (Appellant / Assessee) (Respondent / Revenue) Assessment Year: 2008-09 Acit, Central-1, Prakash Asphaltings & Indore Toll Of Highway (India) बनाम/ Ltd., 76, Mall Road, Vs. Mhow (Appellant / Revenue) (Respondent / Assessee)

132 of the Act was conducted on the business premises of Agroh Infrascucture Developers Pvt. ltd. (AIDPL) and Prakash Asphalting and Toll Highways (India) Ltd. (PATH). Subsequently, the assessment order was passed u/s 143(3) r.w.s. 147 of the I.T. Act 1961 on 03.03.2016 for A.Y. 2008-09 in both the cases. Page 16 of 22 Prakash Asphalting & Toll Highways

THE DCIT CENTRAL-(1), INDORE vs. M/S AYUSH AJAY CONSTRUCTION PVT. LTD. , INDORE

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyanii.T(Ss).A. Nos.14 To 16/Ind/2018 (Assessment Years: 2007-08 To 2009-10)

U/s 132 and these books of accounts were found and seized during the course of search. In that case, the assessing officer is empowered to examine these books of account for making addition to the income of the assessee. 3.5.3] That if during the course of search, any income or property which was discovered and not found as disclosed

THE DCIT, 2(1), INDORE vs. SHRI KESHAV KUMAR NACHANI, INDORE

In the result, all the appeals of the Revenue are dismissed

Bench: Smt. Madhumita Roy & Shri Bhagirath Mal Biyani

reassessment of the firm under section 143(3) read with section 148 wherein the impugned share of profit was offered to tax was completed and accepted by the Revenue. There is no material with the AO to demonstrate that firm was not genuine, and its activities were doubtful nature, and that the impugned amount of Rs.25,76,208/- represented unexplained

JCIT(OSD),-2(1),INDORE, INDORE vs. SHRI KESHAV KUMAR NACHANI, INDORE

In the result, all the appeals of the Revenue are dismissed

Bench: Smt. Madhumita Roy & Shri Bhagirath Mal Biyani

reassessment of the firm under section 143(3) read with section 148 wherein the impugned share of profit was offered to tax was completed and accepted by the Revenue. There is no material with the AO to demonstrate that firm was not genuine, and its activities were doubtful nature, and that the impugned amount of Rs.25,76,208/- represented unexplained

THE DCIT, 2(1), INDORE vs. SHRI KESHAV KUMAR NACHANI, INDORE

In the result, all the appeals of the Revenue are dismissed

Bench: Smt. Madhumita Roy & Shri Bhagirath Mal Biyani

reassessment of the firm under section 143(3) read with section 148 wherein the impugned share of profit was offered to tax was completed and accepted by the Revenue. There is no material with the AO to demonstrate that firm was not genuine, and its activities were doubtful nature, and that the impugned amount of Rs.25,76,208/- represented unexplained

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

132(4) of the Act of any director of Messers Goenka Business and Finance Ltd., if any, recorded by Investigation Wing and report of Investigation Wing, Mumbai, were ever made available to the appellant to verify the conclusion drawn by the department as Penny Stock. There being no evidence about the cash transfer, either at the time of purchase

SWAPNIL RATHI,INDORE vs. DEPUTY COMMISSIONER OF INCOME TAX 2 (1), INDORE

In the result, appeal of assessee is partly allowed for statistical purposes

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanishri Swapnil Rathi, Dcit-2(1) 17Bf, Scheme No.74C, Indore Vs. Vilay Nagar, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Afwpr 6790 K Assessee By Shri Pankaj Shah & Soumya Bumb, Ars Revenue By Shri P.K. Mishra, Cit-Dr Date Of Hearing 24.05.2023 Date Of Pronouncement 19.07.2023

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under Section 132 or requisition under Section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened