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

68, section section 69B, section 69C or 69, section 69A, section 69B, Section 69D at the rate of section 69C or Section 69D, if thirty percent; and such income is not covered (b) the amount of income tax under clause a), the income tax with which the assessee payable shall

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

5 87 90 884 Cl. Stock as on 28.09.2016 as per Books of A/C 81 8590486 1 032539221 Physical Stock as per DVO Reports 1 06 03 64 1 060364733 733 Excess Stock -241774247 -27825512 DCIT vs.M/s. Punajb Retail Pvt. Ltd. Asst.Year –2017-18 - 9 – Less: Stock Surrendered Short/ Excess Surrendered 10 1495 122 - 101495122 140279125 73669610 Thus, in view

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

Section 68 of the Act on the ground that that huge outstanding balance of sundry creditors remained unpaid for the period of more than three years and that the appellant had failed to establish the need for which it had incurred such expenditure. 5

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

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

68 of the IT Act 1961 has beautifully analyzed the issue of applicability of amendments and laid 4 Pumarth Properties down the above principles while examining the issue. Therefore, it is imperative to examine the applicability of amendment in section 115BBE(2) w.e.f. 04.01.2017 in the light of principles laid down in the decision as discussed supra.” 5

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

In the result, assessee’s appeal isallowed

Bench: Ms. Madhumita Roy& Shri Bhagirath Mal Biyani

5 - Provided further that nothing contained in the first proviso shall apply if the person, in whose name the sum referred to therein is recorded, is a venture capital fund or a venture capital company as referred to in clause (23FB)of section 10." Further, as per CBDT Instruction dated 10.01.2018, section 68

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

Appeals are dismissed

sections": [ "143(3)", "68", "142(1)", "139", "253(5)", "46A", "271AAC", "115BBE", "133(6)", "37", "40(b)" ], "issues": "Whether

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

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 to 5

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

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

Appeals are dismissed

sections": [ "143(3)", "68", "144B", "46A", "139", "142(1)", "143(2)", "253(5)", "271AAC", "115BBE", "133(6)" ], "issues": "Whether

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

5: 8. In these grounds, the assessee has challenged the addition of Rs. 66,91,70,000/- made by AO and upheld by CIT(A) on account of unexplained share capital u/s 68. 9. During assessment-proceeding, when the AO show-caused assessee to explain the justification of issuance of shares having face value of Rs. 10/- at a premium

TYHE ITO-4(5), INDORE vs. M/S. URVASHI WORLD WIDE P. LTD., INDORE

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri C.M. Garg & Shri Bhagirath Mal Biyaniassessment Year: 2012-13

68 of the Act totaling to Rs.725.00 lakhs. 5. Further, drawing our attention to the relevant paras of assessment order, the ld. CIT-DR submitted that regarding other three creditors/lenders, the AO made a detailed enquiry and, thereafter, noted that M/s Ruchi Stock & Securities P. Ltd. has not shown any loan in its balance sheet in the name

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

Section 68 of the Act, where any sum is found credited in the books of the assessee for any previous year, the same may be charged to income tax as the income of the assessee of that previous year if the explanation offered by the assessee about the nature and source thereof is, in the opinion of the Assessing

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

5. Respectfully following the decision of ITAT Pune Bench in the case of M/s.Bhagur Urban Credit Co-operative Society Ltd., in ITA No.561/PUN/2022, it is held that addition made by AO under section 68

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 had not been discharged and thus addition made to be upheld. In view of the facts of the case and case laws cited above, the addition of Rs.117750000/- made by the AO u/s.68 is illegal and wrong. The same therefore requires to be deleted.” 4. However, relying upon certain judgments as mentioned in the impugned order