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

10,697/-, which were denied by the AO on the ground the alleged unsecured loans were not genuine, and accordingly added to his income under section 68 of the Act. 20. Dissatisfied with the addition, the assessee went in appeal before the ld.CIT(A). Before the ld.CIT(A) the assessee inter alia pleaded that in the regular assessments

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

10,697/-, which were denied by the AO on the ground the alleged unsecured loans were not genuine, and accordingly added to his income under section 68 of the Act. 20. Dissatisfied with the addition, the assessee went in appeal before the ld.CIT(A). Before the ld.CIT(A) the assessee inter alia pleaded that in the regular assessments

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

10,697/-, which were denied by the AO on the ground the alleged unsecured loans were not genuine, and accordingly added to his income under section 68 of the Act. 20. Dissatisfied with the addition, the assessee went in appeal before the ld.CIT(A). Before the ld.CIT(A) the assessee inter alia pleaded that in the regular assessments

RAJESH BAJAJ,BURHANPUR vs. THE ACIT , KHANDWA

In the result appeal of the assessee is dismissed

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2015-16 Shri Rajesh Kumar Bajaj Acit 13, Rajesh Industries, Vs. Khandwa Industrial Estate Indore (Appellant) (Revenue ) Pan No.Ahnpb0036F Appellant By Shri S.S. Sheetal, Ar Revenue By Shri Ashishporwal, Dr Date Of Hearing 08.01.2020 Date Of Pronouncement 09.03.2020 O R D E R

3 ITANo.16/Ind/2019 Rajesh Kumar Bajaj applying the provisions of Section 115 BBE of the Income Tax Act 1961. I have carefully gone through the assessment order as well as submission of the appellant in this regard. 5.1 The appellant has taken the plea that he did not have any other income except business income. The appellant has also submitted

THE AIT,ENTRAL-1, INDORE vs. SURYA INFRAVENTURE P LTD, INDORE

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

Section 143(3) of the Income-Tax Act, 1961 (hereinafter referred to as ‘the Act’) for Assessment Year (hereinafter referred to as ‘A.Y.’) 2011-12 with the following grounds: “1. On the facts and in the circumstances of the case, the Ld. CIT(A) has erred in law and on facts in deleting the addition

THE ACIT, CENTRAL-1, INDORE vs. M/S SURYA INFRA VENTURE PVT. LTD., INDORE

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

Section 143(3) of the Income-Tax Act, 1961 (hereinafter referred to as ‘the Act’) for Assessment Year (hereinafter referred to as ‘A.Y.’) 2011-12 with the following grounds: “1. On the facts and in the circumstances of the case, the Ld. CIT(A) has erred in law and on facts in deleting the addition

THE ACIT, CIRCLE 2(1), INDORE vs. M/S SURYA INFRA VENTURE PVT. LTD., INDORE

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

Section 143(3) of the Income-Tax Act, 1961 (hereinafter referred to as ‘the Act’) for Assessment Year (hereinafter referred to as ‘A.Y.’) 2011-12 with the following grounds: “1. On the facts and in the circumstances of the case, the Ld. CIT(A) has erred in law and on facts in deleting the addition

ACIT CIRCLE 1(1), UJJAIN vs. A ONE ENCLAVE, UJJAIN

In the result, grounds taken by Revenue are dismissed

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradassessment Year 2012-13 Acit, Circle-1(1), V/S M/S. A One Enclave, Ujjain 3687/1, Hariphatak Road, Ujjain

3 A One Enclave the depreciation, interest and remuneration to partners totaling to Rs.91,75,248/-. Ld. CIT(A) allowed the assessee’s appeal thereby giving detailed finding of fact and placing reliance on various judgments and also taking note that the amendment in the statue by way of inserting Section 115BBE of the Act was brought into effect

ACIT 5 (1), BHOPAL vs. M/S VINDHYA SOLVENT PVT. LTD., BHOPAL

In the result, Revenue’s appeal is dismissed

Bench: Ms. Madhumita Roy& Shri Bhagirath Mal Biyani

10 9.6 From a bare reading of section 68, it is clear that the said section applies to cash credits for which assessee offers no explanation about the nature and source thereof or the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory. Thus clearly, the section 68 applies to instances

NARENDRA KUMAR MISHRA,BHOPAL vs. ITO-3(1), BHOPAL, BHOPAL

Appeal is partly allowed for statistical purpose

3,00,000/- to Rs. 25,00,000/- for the\npurpose of section 10(10AA)(ii) was issued on 24.05.2023, hence the same\ncannot apply to AY 2020-21 as being claimed by assessee. He requested to\nuphold the orders of lower authorities.\n12. We have considered rival submissions of both sides and considered\nthe issue, facts

ACIT-1(1), INDORE, INDORE vs. SANJAY LADDHA, INDORE

3), section 68 cannot be applied and no addition can be made u/s 68:\n\"9. Even on legal side, we find merit in the submission made by Ld. AR\nthat once the AO has rejected books of assessee u/s 145, the addition u/s\n68 cannot be made. Their Lordship in CIT Vs. Dulla Ram (2014) 42\ntaxmann.com

M/S SUPREMO INDIA LTD ,INDORE vs. THE AIT CENTRAL 3, INDORE

In the result, appeal of assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S. Supremo India Pvt. Ltd. Acit Central-3 400/2, Halka Patwari No.52 Indore Vs. Badiakeema Dudhiya, B.O. Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Aafcs 9822 C Assessee By Shri S.S. Solanki, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 01.05.2023 Date Of Pronouncement 07.06.2023

10,011/- as undisclosed business income assessable under the head ‘business’ and other two sums under section 69. The business income including application of section 40(b) has to be considered accordingly. For calculation of income in view of our above observations, we restore the matter to the file of AO. (d) Chokshi Hiralal Maganlal Vs. DCIT, Ahemadabad

M/S NIKHIL ESTATE P LTD,INDORE vs. THE ACIT CENTRAL CIRCLE (3) INDORE, INDORE

In the result, appeal of assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S. Nikhil Estate Pvt. Ltd. Acit (Central)-3 M-102, Mezzanine, Floor, Indore Dhan Trident, P. No.B-3 Pu- Vs. 4, Sch. No.54, Vijay Nagar Square, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Aabcn 8056 D Assessee By Shri S.S. Solanki, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 01.05.2023 Date Of Pronouncement 09.06.2023

10,011/- as undisclosed business income assessable under the head ‘business’ and other two sums under section 69. The business income including application of section 40(b) has to be considered accordingly. For calculation of income in view of our above observations, we restore the matter to the file of AO. (d) Chokshi Hiralal Maganlal Vs. DCIT, Ahemadabad

DECENT INDUSTRIES P. LTD.,BHOPAL vs. ITO-1(2), BHOPAL

Appeal is partly allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani(Virtual Hearing) Assessment Year: 2012-13 M/S Decent Industries Ito-1(2), Private Ltd, Bhopal 5Th Floor, Corporate Park, बनाम/ Db City Area Hills, Vs. Opp. M.P. Nagar Zone I, Bhopal (Assessee/Appellant) (Revenue/Respondent) Pan: Aaeca6271G Assessee By Ms. Shilpa Gupta & Shri N.K. Gupta Revenue By Shri V.K. Singh, Cit-Dr Date Of Hearing 04.06.2024 Date Of Pronouncement 20.08.2024

10 of 44 M/s Decent Industries Pvt. Ltd ITA No. 356/Ind/2023 – AY 2012-13 establish three things necessary to obviate the mischief of Section 68. Those are: (i) identity of the investors; (ii) their creditworthiness/investments; and (ii) genuineness of the transaction”. In this case, it is evident from assessment- order that the appellant has not furnished satisfactory documentary evidences

DCIT (CENTRAL)-2, INDORE vs. PUNJAB RETAIL (P) LTD., INDORE

In the result, the appeals filed by the Revenue is dismissed

Bench: Shri Manish Borad& Ms. Madhumita Roy

3 of the assessment order. The assessing officer then compared the said valuation with the cost of jewellery as per books of accounts as on the date of search which came to Rs. 81,85,90,485/- as provided on Page No. 5 of the assessment order. Difference of these two figures i.e. market value of jewellery found

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

68 of the I.T. Act,\n1961, when it was evident that the entire share application money including\nshare premium money was received by the assessee company in A.Y. 2010-11\nnot in A.Y. 2011-12.\"\n6.\nWe have heard the learned Representatives of both sides and perused\nthe impugned order of CIT(A) re-produced above. After a careful\nconsideration

THE ACIT (CENTRAL)-I, BHOPAL vs. M/S. D.K. CONSTRUCTION, BHOPAL

Appeal is allowed

Bench: Ms. Suchitra R. Kamble & Shri Bhagirath Mal Biyani

section 80-IB(10); they were released after 31.03.2012. In such a case, the non-construction Page 17 of 38 D.K. Construction ITA No.34 to 37 & 24/Ind/2022 - AY. 2012-13 to 2014-15 & 2017-18 of those 2 units was not within the control of assessee. As a matter of fact, we even do not find any mala fide

M/S. D.K. CONSTRUCTION,BHOPAL vs. THE ACIT, 2(1), BHOPAL

Appeal is allowed

Bench: Ms. Suchitra R. Kamble & Shri Bhagirath Mal Biyani

section 80-IB(10); they were released after 31.03.2012. In such a case, the non-construction Page 17 of 38 D.K. Construction ITA No.34 to 37 & 24/Ind/2022 - AY. 2012-13 to 2014-15 & 2017-18 of those 2 units was not within the control of assessee. As a matter of fact, we even do not find any mala fide