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

4 – " The fact remained undisputed till the date of issuance of show cause Notice dated 31.10.2018 & 05.12.2018 whereas no reply was filed till 11.12.2018 " The assessee has now come forward with a plea that the valuation made by Govt. approved Valuer; is not correct on adopting the value of gold/ornaments in the valuation report, although there is no dispute over

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

4. He further made addition of Rs.1,29,00,31,341/- to the total income being the outstanding amount of sundry creditors appearing in the appellant's balance sheet as on 01.04.2013 under Section 68

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)

section 68, 69, 69A, 69B, 69C and 69D i.e. from residuary category w.e.f 01.04.2017. However, in the present case search u/s 132 and survey u/s 133 of the Act took place on 28.09.2016. The appellant during the course of search made voluntary disclosure of additional income of Rs. 4

M/S PUMARTH PROPERTIES & HOLDING (P) LTD.,INDORE vs. THE DCIT (CENTRAL)-1, INDORE

In the result, the appeal of the Assessee is allowed

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2013-14

section 68 of the IT Act 1961 has beautifully analyzed the issue of applicability of amendments and laid 4

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

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

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

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

In the result, assessee’s appeal isallowed

Bench: Ms. Madhumita Roy& Shri Bhagirath Mal Biyani

Section 68 of the Act is the subject matter before us. ITA No.983/Ind/2019 (Smt. Archana Chandokvs.ITO) Asst.Year.–2010-11- 2 - 3. None appeared on behalf of the assessee. On the other hand, the Ld. DR relied upon the orders passed by the authorities below. 4

SHRI AMIT TIWARI,INDORE vs. THE DCIT (CENTRAL)-2, INDORE

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year:2015-16

68,34,975/- on account of investment in construction of house pertaining to the Assessment Year 2015-16 in his statement recorded under section 132(4

RITIKA JAIN,THANE vs. ITO(IT TP), BHOPAL, AAYKAR BHAVAN

Appeal of the assessee is allowed for statistical purpose

Bench: Smt. Annapurna Gupta & Shri Paresh M Joshiritika Jain, Cit (Appeals), बना A-504, Laxmi Residency Chs Nfac, म/ Ltd, Delhi Vs. Opposite Datta Mandir Check Naka, Wagle Estate, Thane

4) The Ld. AO has erred in passing the assessment order under section 147 r.w.s 144 of the Act instead to be passed under section 144C after compliance of notice under section 142(1), thus the order by the Ld.AO is without applying his mind and against the principle of law. 5) The appellant humbly submits that

REKHA KHANDELWAL,RAJGARH vs. ITO WARD RAJGARH, RAJGARH

Appeal is allowed for statistical purpose

Bench: Shri B.M. Biyani & Shri Paresh M. Joshiassessment Year:2014-15 Rekha Khandelwal, Income-Tax Officer, Ward No.2, Near Chote Ward Rajgarh Hanuman Mandir, बनाम/ Rajgarh Bus Stand Vs. S.O. Rajgarh, (Assessee/Appellant) (Revenue/Respondent) Pan: Eljpk1548B Assessee By Shri Milind Wadhwani, Ca Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 16.02.2026 Date Of Pronouncement 19.02.2026

68 – Rs. 75,52,500/- and (ii) Interest earned by assessee in bank a/c – Rs. 5,732/-. Aggrieved, the assessee carried matter in first- appeal. The CIT(A) treated assessee’s first-appeal as deficient on the footing of non-payment of tax as required by section 249(4

M.S, ULTIMATE BUILDERS,BHOPAL vs. THE ACIT-2, BHOPAL

In the result appeal of the assessee stands allowed

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradassessment Year 2014-15 M/S. Ultimate Builders, Acit, Central-Ii, G-1, Kamdhenu Tower, E- Vs. Bhopal 2/22, Arera Colony, Bhopal (Appellant) (Respondent ) Pan No.Aacfu8239M

section 132(4) and consequently the statement under consideration cannot be called to be a statement u/s 132(4). The sequence of events itself establishes that the statement was recorded under mental stress. iv. Whether the statement is based on any unrecorded transactions and documents found during the course of search. Ultimate Builders It may be mentioned that

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

In the result, this appeal of assessee is dismissed

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

section 68 of the IT Act, 1961. 4.4 The fundamentals and financials of the M/ s Lifeline Drugs &, Pharma Ltd. have been analyzed and discussed in detail by the AO in the assessment order at Page Nos. 4

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

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 68 to arrive at a proper conclusion in the matter. Having observed so, we now turn back to the assessment-order and reproduce below, which we have earlier too repeated, the submission made by assessee to Ld. AO: “7. With reference to your query regarding Shri Nilesh Jain, it is submitted that we have already given

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

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

68 and the Ld. CIT(A) was Page 5 of 14 M/s Hi Link City Homes P. Ltd. Assessment year 2012-13 justified in deleting the addition made by Ld. AO. We, therefore, uphold the action of Ld. CIT(A). With, this Ground No. 2 and 3 of the revenue are dismissed. Ground No. 4: 10. During assessment-proceeding

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, the first burden is on the assessee to satisfactorily explain the credit entry in the books of account of the previous year. If the explanation given by the assessee is satisfactory, then that entry will not be charged with the income of the previous year of the assessee. In case the explanation offered by the assessee

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. 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 regarding nature and source of credit entries of Rs.66,91,70,000/- received by way of share premium. Further, it is apparent that

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

In the result, this appeal of assessee is dismissed

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani

68 of the Income tax Act, 1961. As the assessee has deliberately and willfully concealed its unaccounted income, and furnished inaccurate particulars of such income, the penalty proceedings under section 271(1)(c) are initiated for concealment and furnishing the inaccurate particulars also initiated. Addition: Rs. 66,28,161/- 10. Addition on account of unexplained expenses

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

Bench: Shri Siddhartha Nautiyal & Shri Bhagirath Mal Biyani

Section 68 of the Act. This view also find support from the decision of ITO vs. CD Patani Nagri Sahkari Pat Sanstha in ITA No. 727/Pun/2022 vide order dated 28.03.2023, in which the ITAT on similar set of facts made the following observations:- “4