DCIT CENTRAL-1, INDORE vs. SARTHAK INNOVATION (P) LTD., INDORE

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

127 of the Act by the CIT, Central, Bhopal and the case records were received on 11.09.2015 from old jurisdiction. Due to change of incumbent, a fresh notice under Section 143(2) of the Act dated 15.01.2016 and further notice under Section 142(1) of the Act alongwith a detailed questionnaire were issued on 15.01.2016. In response thereof

ACIT CENTRAL-2, INDORE vs. SARTHAK INNOVATION (P) LTD., INDORE

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

127 of the Act by the CIT, Central, Bhopal and the case records were received on 11.09.2015 from old jurisdiction. Due to change of incumbent, a fresh notice under Section 143(2) of the Act dated 15.01.2016 and further notice under Section 142(1) of the Act alongwith a detailed questionnaire were issued on 15.01.2016. In response thereof

M/S RADHISHWARI DEVLOPERS P LTD,INDORE vs. PR CIT -2 INDORE, INDORE

In the result, Assessee’s appeal in ITANo

Bench: Hon’Ble Rajpal Yadav & Hon’Ble Manish Boradvirtual Hearing Assessment Year 2013-14 M/S. Radhishwari Developers P. Ltd. (Now Known As R.C. Warehousing Pvt. Ltd. ) Indore : Appellant Pan :Aafcr1916A V/S Pr. Cito-2 : Respondent Indore Appellant By S/Shri Sumit Nema Sr. Adv. With Gagan Tiwari & Piyush Parashar Advs. Revenue By Shri S.S. Mantri, Cit-Dr Date Of Hearing 24.05.2021 Date Of Pronouncement 20.07.2021

2 M/s. Bhimthal Nirman Pvt. Ltd. Rs.25,00,000/- 3 M/s. Confident Vinimay Pvt.Ltd. Rs.65,00,000/- 4 M/s.Crest Vanijya Pvt. Ltd. Rs.31,00,000/- 5 M/s. Gielle Investment Pvt. Ltd. Rs.51,00,000/- M/s. Radheshwari Developers Pvt. Ltd. 6 M/s. Tropical Vyapar Pvt. Ltd. Rs.28,00,000/- 7 M/s. Winsher Commercial Pvt. Rs.89,00,000/- Ltd. 8 M/s. Jayant

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

In the result, appeal of the assessee is allowed

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 68 can be invoked." 30. It is therefore seen that in a case where a sum is credited in the books of account of a firm from a partner, the assessee firm could discharge its onus by proving three things: (i) identity of the creditor; (ii) creditworthiness of the creditor; and (iii) genuineness of transaction in question. Once

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

section 68 of the Act, viz. identity of “A” & “J”, genuineness of transactions and creditworthiness of “A” & “J”, have been duly established by furnishing a large number of statutory and non-statutory documents. In Para 5.2 of appeal-order, the CIT(A) has already accepted the satisfaction of first two ingredients i.e. the identity of “A” & “J” and genuineness

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

section 143(2) on the same day when the return of income was filed by the assessee. Thus, there was no application of mind on the part of the A.O. The entire assessment proceedings are vitiated and are bad in the eye of Law. The issue is covered in favour of the assessee by order of the ITAT, Delhi

SHRI VINOD BHANDARI,INDORE vs. THE PR.CIT-1, INDORE

In the result appeal of the assessee is allowed

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2012-13 Shri Vinod Bhandari, Pr. Cit(1), Indore 21- Gf, Bhandari House, Talkies, Scheme No.54, Vs. Vijay Nagar, Indore (Appellant) (Revenue ) Pan No.Abnpb6240M Assessment Year: 2012-13

2 crores to the income at that time. The Commissioner took the view that the assessment order disclosed an error, in that the deduction under section14 A had not been made. Now, while the statutory direction to the Assessing Officer to calculate, proportionately, the expenditure which an assessee may incur to obtain the dividend income, for purposes of disallowance, cannot

DR. VINOD BHANDARI,INDORE vs. THE ACIT CIR. 2(1), INDORE

In the result appeal of the assessee is allowed

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2012-13 Shri Vinod Bhandari, Pr. Cit(1), Indore 21- Gf, Bhandari House, Talkies, Scheme No.54, Vs. Vijay Nagar, Indore (Appellant) (Revenue ) Pan No.Abnpb6240M Assessment Year: 2012-13

2 crores to the income at that time. The Commissioner took the view that the assessment order disclosed an error, in that the deduction under section14 A had not been made. Now, while the statutory direction to the Assessing Officer to calculate, proportionately, the expenditure which an assessee may incur to obtain the dividend income, for purposes of disallowance, cannot

DR. VINOD BHANDARI,INDORE vs. THE DCIT CIR. 2(1), INDORE

In the result appeal of the assessee is allowed

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2012-13 Shri Vinod Bhandari, Pr. Cit(1), Indore 21- Gf, Bhandari House, Talkies, Scheme No.54, Vs. Vijay Nagar, Indore (Appellant) (Revenue ) Pan No.Abnpb6240M Assessment Year: 2012-13

2 crores to the income at that time. The Commissioner took the view that the assessment order disclosed an error, in that the deduction under section14 A had not been made. Now, while the statutory direction to the Assessing Officer to calculate, proportionately, the expenditure which an assessee may incur to obtain the dividend income, for purposes of disallowance, cannot

M/S SHRI GURMUKHDAS CONTRACTORS P LTD,BHOPAL vs. DCIT-CENRRAL-1, BHOPAL

In the result, Revenue’s appeals in I

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

127 of the Act. Notices under Section 153A of the Act for six assessment years commencing from A.Ys. 2011-12 to 2016-17 were issued on 24.09.2018 and the copies of all seized materials have been served and provided to the assessee whereupon written reply dated 19.11.2018 was filed informing the fact of filing of return

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

section 145(3) of the Act. He accordingly reversed the action of the AO in rejecting the books of accounts of the assessee by holding that the AO was not correct in rejecting the books of accounts. Thereafter, the ld.CIT(A) deleted additions made on account of estimation of gross profit in the transactions of sale of gold

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

section 145(3) of the Act. He accordingly reversed the action of the AO in rejecting the books of accounts of the assessee by holding that the AO was not correct in rejecting the books of accounts. Thereafter, the ld.CIT(A) deleted additions made on account of estimation of gross profit in the transactions of sale of gold

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

section 145(3) of the Act. He accordingly reversed the action of the AO in rejecting the books of accounts of the assessee by holding that the AO was not correct in rejecting the books of accounts. Thereafter, the ld.CIT(A) deleted additions made on account of estimation of gross profit in the transactions of sale of gold

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

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

2:- 19. The Revenue through this ground of appeal has challenged the deletion of addition of Rs. 1,10,00,000/- made by the Ld. AO under Section 68 of the Act on account of share application money received from M/s SKS Ispat and Power Limited. 19.1 The brief facts leading to the issue are that the assessee received

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

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

2:- 19. The Revenue through this ground of appeal has challenged the deletion of addition of Rs. 1,10,00,000/- made by the Ld. AO under Section 68 of the Act on account of share application money received from M/s SKS Ispat and Power Limited. 19.1 The brief facts leading to the issue are that the assessee received

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

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

2:- 19. The Revenue through this ground of appeal has challenged the deletion of addition of Rs. 1,10,00,000/- made by the Ld. AO under Section 68 of the Act on account of share application money received from M/s SKS Ispat and Power Limited. 19.1 The brief facts leading to the issue are that the assessee received

M/S. AGRAWAL COAL CORPORATION P. LTD.,INDORE vs. THE DCIT -CIRCLE 1(1), INDORE

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

68 of 127 50 SOT 134 (Ahm.Trib), Mastek Limited vs. Addl. CIT, (2012) 53 SOT 111 (Ahm.), LGEC – NCC vs. ITO, (2014) 37 taxmann.com 402 (I.T.A.T. Hyd.). The assessee has further relied on the decision of CIT vs. EKL Appliances Limited, (2012) 345 ITR 241(Del), wherein the Hon’ble High Court has affirmed the use of OECD guidelines

THE DCIT-1(1), INDORE vs. M/S. AGRAWAL COAL CORPORATION P. LTD., INDORE

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

68 of 127 50 SOT 134 (Ahm.Trib), Mastek Limited vs. Addl. CIT, (2012) 53 SOT 111 (Ahm.), LGEC – NCC vs. ITO, (2014) 37 taxmann.com 402 (I.T.A.T. Hyd.). The assessee has further relied on the decision of CIT vs. EKL Appliances Limited, (2012) 345 ITR 241(Del), wherein the Hon’ble High Court has affirmed the use of OECD guidelines

M/S. AGRAWAL COAL CORPORATION P. LTD.,INDORE vs. THE DCIT RANGE 1(1), INDORE

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

68 of 127 50 SOT 134 (Ahm.Trib), Mastek Limited vs. Addl. CIT, (2012) 53 SOT 111 (Ahm.), LGEC – NCC vs. ITO, (2014) 37 taxmann.com 402 (I.T.A.T. Hyd.). The assessee has further relied on the decision of CIT vs. EKL Appliances Limited, (2012) 345 ITR 241(Del), wherein the Hon’ble High Court has affirmed the use of OECD guidelines