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

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

68 of the Act. On appeal the CIT(A) has confirmed the said addition for want of any evidence. 13.1 Before the Tribunal Ld. AR of the assessee has submitted that the assessee has taken this loan from Bajaj Finance Limited a non- banking financial institution and ledger of loan from Bajaj Finance was duly produced before

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 143(3). The AO computed the income of Rs. 1927/-. The assessment proceedings were completed on limited issues. Similarly, the assessment proceedings in case of M/s Jai Hind Financial Advisors P Ltd were completed on total income of Rs. 48,035/- as against the returned Income of Rs. 6035/- for the AY 2017-18. This case was also

INCOME TAX OFFICER INDORE 5(1), INDORE vs. UMANG DEVELOPERS, INDORE

Appeals are dismissed

section 68 of the Act.\nThe appellant has submitted that fresh capital received from the partners\nis only Rs.1,56,25,000/- and remaining increase to partners' capital is\nattributed to interest credited to the partners by the appellant. Thus, on\nthe quantum of fresh capital introduced during the year, there is no\ndispute between the appellant

INCOME TAX OFFICER 5(1), INDORE vs. UMANG DEVELOPERS, INDORE

Appeals are dismissed

section 68 of the Act.\nThe appellant has submitted that fresh capital received from the partners\nis only Rs.1,56,25,000/- and remaining increase to partners' capital is\nattributed to interest credited to the partners by the appellant. Thus, on\nthe quantum of fresh capital introduced during the year, there is no\ndispute between the appellant

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

In the result, appeal of the assessee is allowed

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.

section 68 of the Act, has been confirmed by the ld.CIT(A). 2. Brief facts of the case is this that during the year under consideration, the assessee-company issued total 3,80,375 shares of face value of Rs.10/- each. Out of which, on 86,000 shares, share premium has been charged at Rs.490/- per share

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

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

section 68 of the Act by stating that only copy of ledger was filed without PAN. The appellant during 19 Sanjay Lunawat ITA No.396/Ind/2018 & C.O.No.32/Ind/2018 the course of appellate proceeding filed copy of account of the appellant in the book of M/s Jain Infratech and contra account of M/s Jain Infratech in the book of the appellant, copy

VIRENDRA KUMAR MANDOT,, SADAR BAZAR SAILANA RATLAM vs. INCOME TAX OFFICER, ITO-1, RATLAM, RATLAM

Appeal is partly allowed for statistical purpose

68 of the Act. The contention\nof the appellant in raising these grounds is that the AO has not considered\ncash sales which have been taken in the P&L account and the addition made\nby the AO has resulted in double addition.\n8.1 There have been lot of judicial pronouncements on the issue of cash\ndeposits during demonetization period

PIYUSH JAIN,INDORE vs. INCOME TAX OFFICER-4(4), INDORE , ITO, INDORE

In the result, the appeal filed by the assessee is allowed

Section 68 of\nthe Act. In view of the above deliberations and case laws relied upon by both the parties,\nwe find that the AO was not justified in making an addition of Rs.2,90,93,500/- u/s 68 of\nthe Act which has rightly been deleted the Id. CIT(A) and we concur with his findings.\nThus

ITO 1(1), BHOPAL vs. M/S AMKAY COLONISERS & BUILDERS P LTD, BHOPAL

In the result, this appeal of revenue is partly allowed

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani(Conducted Through Virtual Court) Assessment Year: 2013-14 Ito 1(1) M/S. Amkay Colonisers & Bhopal Builders Pvt. Ltd. बनाम/ 16, Amar Stambh, Z-1, M.P. Nagar Vs. Bhopal (Appellant / Revenue ) (Respondent / Assessee) Pan: Aaeca 6272 F Assessee By None Revenue By Shri P.K. Mishra, Cit- Dr Date Of Hearing 12.12.2022 Date Of Pronouncement 20.12.2022

48,746/- (Rs. 1,30,279/-) is Deleted. Therefore, appeal on these grounds are Allowed.” With the able assistance of Ld. DR, we note that in the underlined 6. sentences of aforesaid para 9 of the appeal-order, the Ld. CIT(A) has himself observed that the A.O. is justified in disallowing the expenses and despite such observation

ITO 1(3), AYKAR BHAWAN ANNEX, INDORE vs. M/S. FAIRDEAL ENGINEERING & BODY BUILDING CO. (P) LTD. , KOLKATA

In the result, the appeal of Revenue is dismissed

Bench: Ms. Madhumita Roy & Shri B.M. Biyani

section 68 i.e. genuineness is also proved and the Ld. AO has no basis to upset the same. Regarding creditworthiness of the lender-company, the Ld. AO has observed that the operational revenue was less; the reserve & surplus and fixed assets have declined during the relevant previous year. On such basis, the Ld. AO inferred that the lender-company

RECONNECT ENERGY SOLUTION P LT,BENGALURU vs. THE DCIT 4(1) INDORE, INDORE

In the result, the appeal of assesse is partly allowed for statistical purposes

Bench: Shri Vijay Pal Raoreconnect Energy Solution Ltd. Dcit 1(4) No.22, Vk Kalyani, 7Th Floor Indore Vs. Sankey Road, Bengaluru (Appellant / Assessee) (Revenue) Pan: Aafcr 0074 H Assessee By Shri Anil Khandelwal, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 16.11.2023 Date Of Pronouncement 06.12.2023

48,770 47:1 1034 470 4,77,020 resident thus no PAN) new York USA 5.1 The AO asked the assesse to submit the citified valuation report determining fair market value of shares as on the date of conversion. The assessee submitted the value report wherein Chartered Accountant has determined fair market value of the shares at Rs.108

THE DCIT, 1(1), INDORE vs. M/S. MODERN LABORATORIES, INDORE

In the result, the CO of the assessee is partly allowed

Bench: Shri C.M.Garg & Shri O.P.Meenaआ.अ.सं./ ./ ./ I.T.A. No.277 & Co.16/Ind/2014 ./ "नधा"रण वष" /Assessment Year:2008-09

48,00, 000 under section 68 of the Act. 11. Being, aggrieved, the assessee filed an appeal before the Ld. CIT (A). During

KHOJEMA BOHRA,INDORE vs. INCOME TAX OFFICER, NFAC, DELHI

Appeals are allowed

68 of the Income Tax Act,\n1961 to the total income of the assessee during the relevant year\nunder consideration and taxed by invoking the section 115BBE of\nthe Income Tax Act, 1961 at the rate of 30%. Penalty proceedings\nu/s. 271(1)(c) are initiated separately for furnishing inaccurate\nparticulars of (Addition Rs.23,00,000/-income.”\n2.2 That

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

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

Section 68 of the Act on account of share application money received from M/s SKS Ispat and Power Limited. Being aggrieved, the Revenue filed the appeal before this Tribunal. 20. Before us, the Ld. CIt-DR vehemently supported the order of Ld. AO. Per contra Ld. Counsel for the assessee supported the findings

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

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

Section 68 of the Act on account of share application money received from M/s SKS Ispat and Power Limited. Being aggrieved, the Revenue filed the appeal before this Tribunal. 20. Before us, the Ld. CIt-DR vehemently supported the order of Ld. AO. Per contra Ld. Counsel for the assessee supported the findings

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

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

Section 68 of the Act on account of share application money received from M/s SKS Ispat and Power Limited. Being aggrieved, the Revenue filed the appeal before this Tribunal. 20. Before us, the Ld. CIt-DR vehemently supported the order of Ld. AO. Per contra Ld. Counsel for the assessee supported the findings

DEPUTY COMMISSIONER OF INCOME TAX, AAYAKAR BHAWAN, BHOPAL vs. SH. PRAKASH CHANDRA GUPTA, BHOPAL

In the result the “impugned order” is sustained on the first

Bench: Shri B.M. Biyani & Shri Paresh M Joshidcit, Prakash Chandra, बनाम/ Bhopal 16/244, Kings Vs. Shopping Centre, Mp Nagar, Zone-I, Bhopal-462011 Madhya Pradesh (Pan:Aappg5194E)

48,14,793/- is treated as unexplained cash credit u/s 68 of the Act and taxed as per provision of section