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

68 or 69A, excess stock is covered u/s 69 or 69B, construction of Shed/Godown is covered u/s 69B or 69C and advances made to Sundry Parties is covered u/s 69, 69B or 69D is like an open ended hypothesis which is not supported by any specific finding that the matter shall fall under which of the specific sections

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

Section 115BBE of the Act was brought into effect from 1.4.2013 by the Finance Act 2012 which provides that no deduction in respect of any expenditure or allowance or set off of any loss is to be allowed against the income declared or assessed u/s 68, 69, 69A,69B, 69C & 69D. Ld. CIT(A) also held that before

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

133A was carried out on the business premises of the assessee on 15.11.2016 which was concluded on 19.11.2016. During the course of survey additional income to the tune of Rs. 1,20,02,793/- was declared by the assessee on account of excess stock. While filing the income tax return on 07.11.2017 the valuation of difference in quantity of stock

DCIT,CENTRAL-2, INDORE vs. SHRI KRIHNA KUMAR VERMA, INDORE

In the result, appeal of the revenue is dismissed

Bench: SHRI CHANDRA MOHAN GARG (Judicial Member), SHRI BHAGIRATH MAL BIYANI (Accountant Member)

68 to 69Cas the part ofbusiness income then amended provisions of section 115BBE of the Act is not applicable. 4.3 Further placing reliance on the another judgment of the ITAT, Indore Bench in the case of ACIT vs. Shri Anoop Neema, reported as 2022 (1) TMI 683-ITAT Indore, the Ld. AR submitted that the Ld. CIT(A) find

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

5. DECISION: I have gone through and duly considered the submission made by the appellant, assessment order of the AO and other facts of the case available on the record. 5.1. Ground No. 1 pertains to the issue of addition of Rs.66,91,70,000/- on account of share premium u/s 68 of the Act and the same is adjudicated

M/S. KANAK AGRO INFRASTRUCTURE,KHANDWA vs. THE ITO WARD-1, KHANDWA

In the result, assessee’s appeal is partly allowed

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

section 133A(1) of the Act was carried out on the business premises of the appellant on 22.09.2015. 5. During the survey, statement of partners of the firm was recorded; as per the Ld.AO, the partner of the firm surrendered total Rs.4,11,56,849/- which includes Rs 48,75,500/- in respect of the difference of closing stock

SAARAS AGRO INDUSTRIES ,KHANDWA vs. THE ACIT , KHANDWA

In the result, assessee’s appeal is partly allowed

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

section 133A(1) of the Act was carried out on the business premises of the appellant on 22.09.2015. 5. During the survey, statement of partners of the firm was recorded; as per the Ld.AO, the partner of the firm surrendered total Rs.4,11,56,849/- which includes Rs 48,75,500/- in respect of the difference of closing stock

SAPAN SHAH,INDORE vs. ACIT-4(I), INDORE

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

68 is not applicable on the transaction entered into by the assessee, which is quite unjust, illegal and against the facts of the case. 2. That the learned CIT(A) has erred in holding that the genuine income of Long Term Capital Gain exempted u/s 10(38) of Rs.8,29,555/- is a sham transaction, by applying test of human

MANISH GOVIND AGRAWAL HUF,INDORE vs. I T O 2(1), INDORE

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

68 is not applicable on the transaction entered into by the assessee, which is quite unjust, illegal and against the facts of the case. 2. That the learned CIT(A) has erred in holding that the genuine income of Long Term Capital Gain exempted u/s 10(38) of Rs.8,29,555/- is a sham transaction, by applying test of human

GOVIND HARINARAYAN AGRAWAL HUF,INDORE vs. I T O 2(1), INDORE

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

68 is not applicable on the transaction entered into by the assessee, which is quite unjust, illegal and against the facts of the case. 2. That the learned CIT(A) has erred in holding that the genuine income of Long Term Capital Gain exempted u/s 10(38) of Rs.8,29,555/- is a sham transaction, by applying test of human

PRAYANK JAIN,INDORE vs. ACIT5(1), INDORE

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

68 is not applicable on the transaction entered into by the assessee, which is quite unjust, illegal and against the facts of the case. 2. That the learned CIT(A) has erred in holding that the genuine income of Long Term Capital Gain exempted u/s 10(38) of Rs.8,29,555/- is a sham transaction, by applying test of human

DARSHAN KUMAR PAHWA,INDORE vs. DCIT CIRCLE5(1), INDORE

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

68 is not applicable on the transaction entered into by the assessee, which is quite unjust, illegal and against the facts of the case. 2. That the learned CIT(A) has erred in holding that the genuine income of Long Term Capital Gain exempted u/s 10(38) of Rs.8,29,555/- is a sham transaction, by applying test of human

SHIV NARAYAN SHARMA,INDORE vs. ACIT CIRCLE 3(1), INDORE

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

68 is not applicable on the transaction entered into by the assessee, which is quite unjust, illegal and against the facts of the case. 2. That the learned CIT(A) has erred in holding that the genuine income of Long Term Capital Gain exempted u/s 10(38) of Rs.8,29,555/- is a sham transaction, by applying test of human

DEPUTY COMMISSIONER OF INCOME TAX-2 (1), INDORE, INDORE vs. M/S DTHRI HEALTH CARE PVT. LTD. (M.P), INDORE

In the result Ground No.2 of the revenue stands

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradassessment Year 2013-14 Dcit-2(1), M/S. Dthri Health Care Indore Vs. Pvt. Ltd (M.P), Pu-4, Scheme No.54, Near A.B. Road, Indore (Appellant) (Respondent ) Pan No.Aabcd4095N Revenue By Shri R.P. Mourya, Sr.Dr Assessee By S/Shri Sumit Neema, Sr.Adv & Gagan Tiwari, Adv Date Of Hearing 17.12.2018 Date Of Pronouncement 02.01.2019 O R D E R

133A of The Act and the basis for the addition is the material found at the time of survey which has been identified as B1-13 Page Nos. 5 to 8, Page Nos. 9 to 25 & Page 26 to 29. The entire addition has been made on the basis of these papers and there is no other independent information

NEMICHAND JAIN HUF,BERASIA vs. PCIT(CENTRAL), BHOPAL

Appeal is allowed

Bench: Shri B.M. Biyani & Shri Udayan Das Guptaassessment Year: 2019-20 Nemichand Jain Huf Pcit (Central), Prop. M/S. Mahavir Bhopal बनाम/ Jewellers. Near Bus Stand Vs. Berasia (Assessee/Appellant) (Revenue/Respondent) Pan: Aachn1847E Assessee By Shri Govind Rinwa, Ar Revenue By Shri Ashish Porwal, Sr.Dr Date Of Hearing 21.01.2025 Date Of Pronouncement 31.01.2025

133A was conducted upon business premises of assessee on 07.03.2019 during financial year 2018-19 relevant to AY 2019-20 wherein the assessee surrendered additional income of Rs. 65,66,144/- on account of excess stock of gold and silver items. Subsequently, the assessee filed return of AY 2019-20 on 23.07.2019 showing total income

SRIYANS KUMAR JAIN HUF,BERASIA vs. PCIT (CENTRAL), BHOPAL, BHOPAL

Appeal is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2019-20 Sriyans Kumar Jain Huf, Pcit (Central), Prop. Of M/S Siryans Bhopal Kumar Akshay Kumar Jain, बनाम/ Main Road, Vs. Berasia

133A was conducted upon business premises of assessee on 07.03.2019 during financial year 2018-19 relevant to AY 2019-20 wherein the assessee surrendered additional income of Rs. 33,86,608/- on account of excess stock of gold and silver items. Subsequently, the assessee filed return of AY 2019-20 on 23.11.2019 showing total income

SHRI AASHISH MANGAL,BARWANI vs. THE ACIT CENTRAL CIRCLE -2, INDORE

In the result, ITA No. 247/Ind/2021 is dismissed

Bench: Shri Mahavir Prasad & Shri B.M. Biyani(Conducted Through Virtual Court)

133A was conducted on 05.02.2019 wherein the assessee admitted an undisclosed income of Rs. 32,37,290/- consisting of (i) unaccounted sundry debtors of Rs. 24,80,000/- and (ii) excess cash of Rs. 7,57,290/-. While filing return of income, the assessee declared these incomes as “income from other sources” and paid tax u/s 115BBE. During assessment-proceeding

SHRI SHYAMLAL GOYAL,SENDHWA vs. THE ACIT CENTRAL,CIRCLE -2, INDORE

In the result, ITA No. 247/Ind/2021 is dismissed

Bench: Shri Mahavir Prasad & Shri B.M. Biyani(Conducted Through Virtual Court)

133A was conducted on 05.02.2019 wherein the assessee admitted an undisclosed income of Rs. 32,37,290/- consisting of (i) unaccounted sundry debtors of Rs. 24,80,000/- and (ii) excess cash of Rs. 7,57,290/-. While filing return of income, the assessee declared these incomes as “income from other sources” and paid tax u/s 115BBE. During assessment-proceeding