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

sections": [ "144", "147", "153(6)", "68", "68(1)", "148", "143(2)", "143(3)", "234A(3)", "13", "11", "253", "254", "80-1", "292BB

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

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

13. The instant appeal filed by the Revenue is directed against the order dated 16.08.2021 passed by the Ld. CIT(A)-3, Bhopal (hereinafter referred to as ‘Ld. CIT(A)’) arising out of the order dated 12.03.2014 passed by the DCIT, Circle 2(1), Indore (hereinafter referred to as ‘Ld. AO’) under Section 143(3) of the Income

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

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

13. The instant appeal filed by the Revenue is directed against the order dated 16.08.2021 passed by the Ld. CIT(A)-3, Bhopal (hereinafter referred to as ‘Ld. CIT(A)’) arising out of the order dated 12.03.2014 passed by the DCIT, Circle 2(1), Indore (hereinafter referred to as ‘Ld. AO’) under Section 143(3) of the Income

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

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

13. The instant appeal filed by the Revenue is directed against the order dated 16.08.2021 passed by the Ld. CIT(A)-3, Bhopal (hereinafter referred to as ‘Ld. CIT(A)’) arising out of the order dated 12.03.2014 passed by the DCIT, Circle 2(1), Indore (hereinafter referred to as ‘Ld. AO’) under Section 143(3) of the Income

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

13. These parties were simply accommodation entry providers and the alleged loans were given in the guise of unsecured loan/share application money. The assessee has accordingly claimed interest expenses of Rs.2,36,839/- and 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

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

13. These parties were simply accommodation entry providers and the alleged loans were given in the guise of unsecured loan/share application money. The assessee has accordingly claimed interest expenses of Rs.2,36,839/- and 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

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

13. These parties were simply accommodation entry providers and the alleged loans were given in the guise of unsecured loan/share application money. The assessee has accordingly claimed interest expenses of Rs.2,36,839/- and 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

CHIRAYU CHARITABLE FOUNDATION,BHOPAL vs. PCIT (CENTRAL), BHOPAL

In the result appeal of the assessee stands allowed

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradchirayu Charitable Pcit (Central), Foundation,Bhopal Indore Bhopal Highway, Bhaisakhedi, Vs. Bhopal (Appellant) (Revenue ) Pan No.Aaaac3656P Revenue By Shri S.S. Mantri, Cit Appellant By S/Shri Sumit Nema, Sr. Advocate, Gagan Tiwari & Piyush Parashar, Advs Date Of Hearing 05.01.2021 Date Of Pronouncement .02.2021 O R D E R Per Manish Borad, Am.

section 13 is for the assessment of income while granting the exemption of deduction u/s. 11 & 12 of the Act and it is not for the purpose of the cancellation of registration u/s.12AA(3) of the Act. In support of it reliance is placed on following decisions:- (i) Hon’ble Karnataka High Court in the case

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

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

13 – (b)determined by the Assessing Officer includes any income referred to in section 68, section 69, section 69A, section 69B, section 69C or section 69D, if such income is not covered under clause (a), the income-tax payable shall be the aggregate of— (i) the amount of income-tax, calculated on the income

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

13,47,63,640/- declared voluntarily by the assessee for A.Y. 2011-12, is undisclosed stock held under the customary trading of the business and hence should be treated as the business income of the assessee firm and not as undisclosed investment as held by the AO. If all the three conditions of Section 69 exist together, the unrecorded

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

13,47,63,640/- declared voluntarily by the assessee for A.Y. 2011-12, is undisclosed stock held under the customary trading of the business and hence should be treated as the business income of the assessee firm and not as undisclosed investment as held by the AO. If all the three conditions of Section 69 exist together, the unrecorded

THE ACIT, 4(1), INDORE vs. SHRI SANJAY LUNAWAT, INDORE

Bench: Shri Rajpal Yadav, Vice- & Shri Manish Boradvirtual Hearing Assessment Year 2010-11

13-14, Dhenu Market 38,92,340 4,67,080 (2,33,540 (+) 2,33,540) 2 12, Dhenu Market 8,45,890 1,01,500 3 103, Horizon, Saket Nagar 25,05,000 3,00,000 Self-occupied property at Old 4 1,50,000 Palasia Total 10,18,580 We find that copy of repayment schedule/ loan statement

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

13 - 1.34. Your Honour will appreciate that if the intention of the legislature was to consider the FMV of investments for the purposes of section 56(2)(viib) also, the same could have been expressly clarified by way of an amendment in the rules ( as done in the case of method of valuation for the purpose of section

SMT. ARCHANA CHANDAK,INDORE vs. ITO 3(2), INDORE

In the result, assessee’s appeal isallowed

Bench: Ms. Madhumita Roy& Shri Bhagirath Mal Biyani

3. The decision of Hon’bleLucknow Tribunal in the case of ITO vs. Shri Kamal Kanvar Mishra (2013)[ITA No.398/LKW/2012 wherein it was held as under: 4. The decision of Hon'ble Mumbai Tribunal in the case of Mehul V. Vyas v. ITO, Mumbai [2017] 80 taxmann.com 311 (Mumbai Trib.) wherein it was held as under: Thus, the pass book

THE DCIT, 2(1), INDORE vs. M/S. CENTURE 21 MALL PVT. LTD., INDORE

In the result, all appeals of the Revenue are dismissed, while all appeals of the assessee are allowed

Bench: Smt. Madhumita Roy & Shri Bhagirath Mal Biyani

13. 32. In this appeal of the Revenue, there are two effective issues viz. (i) deletion of addition of Rs.3,15,00,000/- under section 68, and (ii) deletion of addition of Rs.1,01,11,118/- made by the AO on account of unexplained expenditure based on DVO’s report. These issues are reflected in the following grounds

THE DCIT-2(1), INDORE vs. M/S. CENTURY 21 MALL (P) LTD., INDORE

In the result, all appeals of the Revenue are dismissed, while all appeals of the assessee are allowed

Bench: Smt. Madhumita Roy & Shri Bhagirath Mal Biyani

13. 32. In this appeal of the Revenue, there are two effective issues viz. (i) deletion of addition of Rs.3,15,00,000/- under section 68, and (ii) deletion of addition of Rs.1,01,11,118/- made by the AO on account of unexplained expenditure based on DVO’s report. These issues are reflected in the following grounds

M/S CENTURY 21 MALLS P. LTD.,INDORE vs. THE ACIT 2(1), INDORE

In the result, all appeals of the Revenue are dismissed, while all appeals of the assessee are allowed

Bench: Smt. Madhumita Roy & Shri Bhagirath Mal Biyani

13. 32. In this appeal of the Revenue, there are two effective issues viz. (i) deletion of addition of Rs.3,15,00,000/- under section 68, and (ii) deletion of addition of Rs.1,01,11,118/- made by the AO on account of unexplained expenditure based on DVO’s report. These issues are reflected in the following grounds