EXTOL WIND LTD,BHOPAL vs. THE ITO WARD 1 (3), BHOPAL

In the result, appeal of assessee is allowed for statistical purposes

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniextol Wind Ltd. Ito Ward 1(3) 104, Jahangirbad Barkhedi Bhopal Vs. Road, Bhopal (Appellant / Assessee) (Respondent/ Revenue) Pan: Aaace 8607 N Assessee By Shri Pawan Ved, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 11.07.2023 Date Of Pronouncement 14.07.2023

2)(viib) of the Act. He has relied upon the orders of the authorities below. 6. In rejoinder the Ld. AR of the assesse has submitted that the decision of Hon’ble Kerala High Court is on the issue whether the provision of section 56 or 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.

56(2)(viib) and section 68. However, be opted to go for addition U/s 68 and not u/s 56

DCIT 1(1), BHOPAL vs. M/S. DECORE THERMAL POWER (P) LTD., BHOPAL

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2016-17 Dcit-1(1), M/S. Decore Thermal Power Bhopal Pvt. Ltd., Office Block 1A, 5Th Floor, बनाम/ D.B. City Corporate Park, Arera Hills, Vs. Opp. M.P. Nagar Zone-1, Bhopal (Revenue / Appellant) (Assessee / Respondent) Pan: Aafcd3868H Assessee By Shri S.S.Deshpande, C.A. Revenue By Shri P.K.Mishra, Cit Dr Date Of Hearing 02.05.2023 Date Of Pronouncement

68 of the Act, and therefore, the provisions of section 56(2)(viib) are intended to tax excess consideration

THE DY. CIT 4(1), INDORE vs. M/S. VIJAYSHRI PACKAGING LTD. , INDORE

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradassessment Year: 2015-16 M/S. Vijayshri Packaging Dcit-4(1), Vs. Limited, 34-C/2, Industrial Estate Laxmi Indore Bai Nagar, Indore (Revenue ) (Appellant) Pan No.Aabcv0048B C.O.No.11/Ind/2020 Assessment Year: 2015-16 M/S. Vijayshri Packaging Vs. Dcit-4(1), Limited, 34-C/2, Industrial Estate Indore Laxmi Bai Nagar, Indore (Appellant) (Revenue ) Pan No. Aabcv0048B Revenue By Shri Lal Chand, Cit Appellant By S/Shri Ajay Tulsiyan & Ranjan Agrawal, Cas Date Of Hearing 12.01.2021 Date Of Pronouncement 09.02.2021 O R D E R

56(1)(viib) are not applicable on the alleged transaction. However, Ld. Assessing Officer was not satisfied with the genuineness of the transaction and creditworthiness of the subscribers as understood within the meaning of the provisions of section 68 of the Act. Ld. Assessing Officer completed the assessment after making addition for the alleged bogus share premium/share capital