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696 results for “section 68”+ Section 11(6)clear

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Key Topics

Section 68119Section 143(3)92Addition to Income89Section 10(38)83Section 153A48Section 143(2)43Section 26340Long Term Capital Gains35Section 14730

RAJESH BAJAJ,BURHANPUR vs. THE ACIT , KHANDWA

In the result appeal of the assessee is dismissed

ITA 16/IND/2019[2015-16]Status: DisposedITAT Indore09 Mar 2020AY 2015-16

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

Section 115Section 115BSection 133ASection 143(2)Section 143(3)

11. Under the I.T. Act the computation of income comes under Chapter IV which comprises of various heads of income starting from Section 14 to Section 59 which inter-alia covers “income from salary”, “income from house property”, “profits and gains of business or profession”, “capital gains” and “income from other sources”. As far as Section appearing

Showing 1–20 of 696 · Page 1 of 35

...
Section 139(1)30
Disallowance26
Exemption17

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

ITA 235/IND/2021[2011-12]Status: DisposedITAT Indore30 Jan 2023AY 2011-12

Bench: Shri C.M. Garg & Shri Bhagirath Mal Biyani

For Appellant: Shri Ajay Tulsian, CA &For Respondent: Shri P.K. Mishra, CIT, DR
Section 147

11. The ld. CIT-DR submitted that the ld. First appellate authority has erred in law and on facts in deleting the addition made u/s 40(a)(ia) of the Act by overlooking the findings of the AO. The ld. CIT-DR further submitted that the the Ld. CIT(A) has also erred in law and on facts by wrongly

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

ITA 226/IND/2021[2012-2013]Status: DisposedITAT Indore30 Jan 2023AY 2012-2013

Bench: Shri C.M. Garg & Shri Bhagirath Mal Biyani

For Appellant: Shri Ajay Tulsian, CA &For Respondent: Shri P.K. Mishra, CIT, DR
Section 147

11. The ld. CIT-DR submitted that the ld. First appellate authority has erred in law and on facts in deleting the addition made u/s 40(a)(ia) of the Act by overlooking the findings of the AO. The ld. CIT-DR further submitted that the the Ld. CIT(A) has also erred in law and on facts by wrongly

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

ITA 227/IND/2021[2015-16]Status: DisposedITAT Indore30 Jan 2023AY 2015-16

Bench: Shri C.M. Garg & Shri Bhagirath Mal Biyani

For Appellant: Shri Ajay Tulsian, CA &For Respondent: Shri P.K. Mishra, CIT, DR
Section 147

11. The ld. CIT-DR submitted that the ld. First appellate authority has erred in law and on facts in deleting the addition made u/s 40(a)(ia) of the Act by overlooking the findings of the AO. The ld. CIT-DR further submitted that the the Ld. CIT(A) has also erred in law and on facts by wrongly

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

In the result, grounds taken by Revenue are dismissed

ITA 828/IND/2018[2012-13]Status: DisposedITAT Indore26 Jul 2019AY 2012-13

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

Section 115BSection 133ASection 143(2)Section 143(3)Section 263Section 68

68, section section 69B, section 69C or 69, section 69A, section 69B, Section 69D at the rate of section 69C or Section 69D, if thirty percent; and such income is not covered (b) the amount of income tax under clause a), the income tax with which the assessee payable shall

M/S. MADHYA PRADESH CRICKET ASSOCIATION,INDORE vs. THE DCIT 1(1), INDORE

In the result, the appeal filed by the Assessee is dismissed and consequently the order of the Ld

ITA 782/IND/2014[2012-13]Status: DisposedITAT Indore14 Jun 2017AY 2012-13

Bench: Shri Chandra Mohan Garg & Shri O.P.Meenaassessment Year: 2012-13 Madhya Pradesh Cricket Dcit, 1(1), Association Indore बनाम/ Holkar Stadium, Vs. 7, Race Course Road, Indore (Appellant) (Revenue ) P.A. No.Aaatg3527C Appellant By Shri Anil Kamal Garg & Shri Arpit Gaur (Ar) Revenue By Shri Lal Chand (Cit-Dr) Date Of Hearing: 21.03.2017 Date Of Pronouncement: 14.06.2017

Section 13Section 2Section 2(15)

11 & 12 to only those entities which are either carrying out trade, commerce or business; or which are rendering any services in relation to any trade, 20 M.P. Cricket Association commerce or business by wearing a mask or device to hide their true purpose of existence. (iv) In view of the amended definition of expression charitable purpose in section

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

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

ITA 677/IND/2019[2017-18]Status: DisposedITAT Indore08 Oct 2021AY 2017-18

Bench: Shri Manish Borad& Ms. Madhumita Roy

For Appellant: Shri S. N. Agrawal, CA & Shri PankajFor Respondent: Shri Rajib Jain, CIT DR
Section 115BSection 132Section 133ASection 143(3)

11,34,97,915/- under the head "Business Income" and paid tax at applicable normal rate of 34.60%. 2.5.2] The Assessing Officer treating the difference in stock as "Unexplained Investment" and covered the same under deeming provisions of section 69B of the Income tax and after applying the provisions of section 115BBE tax @ 77.25% . 2.5.3] That the issue

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

In the result, appeal of assessee is allowed

ITA 29/IND/2023[2019-20]Status: DisposedITAT Indore07 Jun 2023AY 2019-20

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

Section 115BSection 131(1)Section 133ASection 69ASection 69B

6 of 29 Supremo India Ltd. Page 7 of 29 the assessee but it is one and common nature of stock found during the survey except the quantity of the stock on physical verification was found to be excess in comparison to the stock recorded in the books of accounts. Therefore, there is no separable identifiable stock found during

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

In the result, Revenue’s appeal is dismissed

ITA 281/IND/2018[14-15]Status: DisposedITAT Indore18 Oct 2022

Bench: Ms. Madhumita Roy& Shri Bhagirath Mal Biyani

For Appellant: RespondentbyFor Respondent: Shri Sumit Nema, Sr
Section 142(1)Section 143(2)Section 143(3)Section 56(2)(viib)Section 68

68 of the Act on the ground that that huge outstanding balance of sundry creditors remained unpaid for the period of more than three years and that the appellant had failed to establish the need for which it had incurred such expenditure. 5. We have heard the rival submissions made by the respective parties. We have also perused the relevant

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

In the result, appeal of assessee is allowed

ITA 28/IND/2023[2019-20]Status: DisposedITAT Indore09 Jun 2023AY 2019-20

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

Section 115BSection 133ASection 69Section 69B

6. Once the assessee at the first instance at the time of survey itself has explained the surrendered income as business income of the assessee which is on account of discrepancy in the value as determined by the valuer in comparison to the value recorded in the books of account then the said difference offered to tax by the assessee

AABHUSHAN,DHAMNOD, MADHYA PRADESH vs. ITO DHAR, DHAR

In the result, appeal of the assessee is allowed

ITA 344/IND/2023[AY 2017-18]Status: DisposedITAT Indore09 May 2024

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniaabhushan Dhamnod Ito, Dhar 1St Floor, Ganpati Market Ab Road Dhamnod Vs. Mp (Appellant / Assessee) (Respondent/ Revenue) Pan: Abgfa0812K Assessee By Shri Pranay Goyal & Shri S.N. Goyal, Ars Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 10.04.2024 Date Of Pronouncement 09.05.2024 O R D E R

Section 115BSection 142(1)Section 143(2)Section 68

6-7-2020 and on production of the sale deed found that creditworthiness of the creditor is established. It is held in this year that mere non-compliance of the summon is not sufficient to make the addition under section 68 of the Income-tax Act, 1961, where identity, genuineness and creditworthiness stands established. Thus, there was no reason

SARSWATI VIDHYA PRATISHTHAN M.P ,BHUPAL vs. THE ACIT 2(1), BHOPAL

In the result, appeal of assessee is allowed

ITA 392/IND/2022[2012-13]Status: DisposedITAT Indore30 Aug 2023AY 2012-13

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanisarswati Vidhya Pratishthan Dcit (E) M.P. Bhopal Vs. 01, Harshwardhan Nagar Bhopal (Appellant / Assessee) (Respondent/ Revenue) Pan: Aadas0899M Assessee By Shri Santosh Deshmukh & Shri Parth Jhawar, Ars Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 23.08.2023 Date Of Pronouncement 30.08.2023

Section 11Section 11(1)(a)Section 12ASection 143Section 143(3)Section 263

6. After giving a thoughtful consideration to the rival submissions, material placed on record and the judicial precedents available on this subject, we note that in the appellant's case the lower authorities rejected appellant's claim for benefit of Section 11 primarily on the ground that the appellant was holding trade fairs, exhibitions and conferences and in respect

M/S OREF SECURITIES PRIVATE LTD. ,MANDSAUR vs. INCOME TAX OFFICER, INDORE

In the result, appeal of the assessee is allowed

ITA 70/IND/2018[2013-14]Status: DisposedITAT Indore17 Nov 2021AY 2013-14

Bench: Shri Manish Borad & Ms.Madhumita Royआयकर अपील सं./ Ita No.70/Ind/2018 "नधा"रण वष"/Asstt. Year: 2013-14 Vs. Ito, Mandsaur. M/S.Oref Securities P.Ltd. 69, Agrasen Nagar B/H. Mid India Mandsaur.

For Appellant: Shri S. S. Solanki, CAFor Respondent: Shri Rajib Jain, CIT-DR
Section 133(6)Section 143(3)Section 271(1)Section 56(2)Section 56(2)(vii)Section 56(2)(viib)Section 68

section 68 cannot be justified in the absence of any inquiry done by the ld.AO by exercising powers 13 conferred under the statutory provisions as already observed by us hereinabove. Thus, in the absence of proper inquiry made by the ld.AO, impugned addition cannot be sustained and the same is hereby deleted. The ground of appeal filed

M/S. RISHIRAJ K.M.B. EDUCATION SOCIETY,BHOPAL vs. THE CIT, BHOPAL

In the result, the appeal filed by the assessee is

ITA 434/IND/2014[-]Status: DisposedITAT Indore20 Aug 2018

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: Na

Section 11Section 12ASection 132(1)Section 139Section 143(3)Section 153ASection 153C

section 11 and 13 it is too be considered by the A.O at the stage of the assessment. The registration of the institution u/s 12A cannot be cancelled”. The Hon’ble Tribunal discussed many cases on this point from page 68 to page 76 and held that the cancellation of registration is not justified. We rely

THE ITO 2 (1) INDORE, INDORE vs. M/S HI LINK CITY HOMES P LTD,, INDORE

In the result, this appeal of revenue is partly allowed for statistical purpose

ITA 2/IND/2021[2012-13]Status: DisposedITAT Indore19 Sept 2022AY 2012-13

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani(Conducted Through Virtual Court) Assessment Year: 2012-13 Ito, 2(1) M/S. Hi Link City Homes Indore Pvt. Ltd. बनाम/ 06, Sadhna Nagar, Vs. Airport Road, Indore (Appellant / Revenue) (Respondent / Assessee) Pan: Aacch5920K Assessee By Shri Milind Wadhwani & Shri Pankaj Shah, Ars Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 23.08.2022 Date Of Pronouncement 19.09.2022

Section 143(2)Section 143(3)

6) / 131 by Nilesh Jain is not within the control of assessee and that is why the assessee has even written to Ld. AO to proceed at his cost. Ld. AR has also invited our attention to the verdict of section 68 and placed certain judicial decisions to canvas that section 68 cannot apply to the issue

RUPESH VYAS,INDORE vs. THE ACIT3(1), INDORE, INDORE

In the result, this appeal of assessee is dismissed

ITA 50/IND/2020[150-16]Status: DisposedITAT Indore06 Dec 2022

Bench: Shri T.R. Senthil Kumar & Shri B.M. Biyani

Section 10(38)Section 143(3)Section 68Section 69C

Section 68 of the Act. Therefore, the assessee cannot escape from the burden cast upon him and unfortunately in these cases the burden is heavy as the facts establish that the shares which were traded by the assessees had phenomenal and fanciful rise in price in a short span of time and more importantly after a period

THE I.T.O. 2 (1), INDORE vs. M/S HI LINK BUILDCON P LTD , INDORE

In the result, this appeal of revenue is partly allowed for statistical purpose

ITA 3/IND/2021[2012-13]Status: DisposedITAT Indore19 Sept 2022AY 2012-13

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani(Conducted Through Virtual Court) Assessment Year: 2012-13 Ito, 2(1) M/S. Hi Link Buildcon Pvt. Indore Ltd. बनाम/ 06, Sadhna Nagar, Vs. Airport Road, Indore (Appellant / Revenue) (Respondent / Assessee) Pan: Aacch7180H Assessee By Shri Milind Wadhwani & Shri Pankaj Shah, Ars Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 23.08.2022 Date Of Pronouncement 19.09.2022

Section 143(2)Section 143(3)

6) / 131 by Nilesh Jain is not within the control of assessee and that is why the assessee has even written to Ld. AO to proceed at his cost. Ld. AR has also invited our attention to the verdict of section 68 and placed certain judicial decisions to canvas that section 68 cannot apply to the issue

BHAGWAN SINGH GOUR RUNNING AASHIRWAD FUEL POINT,VILLAGE NEEMKHEDI POST RUNAHA vs. ITO- 4 (3) CV R JAYA KUMAR, INCOME TAX DEPARTMENT OFFICE OF ITO

In the result, Ground No. 2 of the assessee’s appeal is allowed

ITA 159/IND/2024[2017-2018]Status: DisposedITAT Indore19 Feb 2025AY 2017-2018

Bench: Shri Siddhartha Nautiyal & Shri Bhagirath Mal Biyani

For Appellant: Shri Ankur Singh Gangwar, Rep. of the assesseeFor Respondent: Shri Ashish Porwal, Sr. DR
Section 115Section 115BSection 115bSection 1ISection 69

11,58,000/- and cash was deposited in SBN amounting to Rs. 67,60,000/- after 08.11.2016 to 31.12.2016 as cash deposits from undisclosed sources. 4. In appeal before Ld. CIT(A), the argument of the assessee was that the assessee was under the impression that petrol pumps are allowed to accept SBNs during the demonetization period. However

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

Appeal is partly allowed

ITA 356/IND/2023[2012-13]Status: DisposedITAT Indore20 Aug 2024AY 2012-13

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

Section 133ASection 143(2)Section 147Section 148Section 14ASection 68

section 68 is very much illegal. Ld. DR for assessee has though relied upon statements of Shri Anand Sharma and the observations made by AO in various paras of assessment-order (as narrated by us in foregoing paras of this order) but, however, could not controvert these vital points as noted by us. Page 27 of 44 M/s Decent

YAKSHA INFRASTRUCTURE COMPANY (P) LTD. (FORMERLY KNOWN FROLIC REALTY (P) LTD.),MUMBAI vs. DCIT-3(1) , INDORE

Appeal is dismissed

ITA 290/IND/2019[2011-12]Status: DisposedITAT Indore14 Mar 2023AY 2011-12

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

For Appellant: Shri Sumit Nema & shri GaganFor Respondent: Shri P. K. Mishra, CIT.D.R
Section 143(3)

6) of the Act and they have replied also. Even the Assessing Officer has relied on its letter without conflicting about their identity. As discussed above, addition u/s 68 of the Act cannot be made where the assessee has discharged its obligation through providing evidences to prove identity, genuineness of transaction and creditworthiness of counterparties. Further, it would be relevant