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)(vii)(b) but. has discussed the section in detail We have raised ground no. 1 to keep this matter alive. If any adjudication is to be given on this issue, We may be given some time to give separate submission on this issue. Ground No.2 2.1 This ground relates to addition of Rs. 17750000/- by alleging that

M/S RADHISHWARI DEVLOPERS P LTD,INDORE vs. PR CIT -2 INDORE, INDORE

In the result, Assessee’s appeal in ITANo

Bench: Hon’Ble Rajpal Yadav & Hon’Ble Manish Boradvirtual Hearing Assessment Year 2013-14 M/S. Radhishwari Developers P. Ltd. (Now Known As R.C. Warehousing Pvt. Ltd. ) Indore : Appellant Pan :Aafcr1916A V/S Pr. Cito-2 : Respondent Indore Appellant By S/Shri Sumit Nema Sr. Adv. With Gagan Tiwari & Piyush Parashar Advs. Revenue By Shri S.S. Mantri, Cit-Dr Date Of Hearing 24.05.2021 Date Of Pronouncement 20.07.2021

section 263 is not permitted to substitute his estimate of income in place of the income estimated by the Assessing Officer. (vii) The Assessing Officer exercises quasi-judicial power vested in him and if he exercises such power in accordance with law and arrive at a conclusion, such conclusion cannot be termed to be erroneous simply because the Commissioner

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 is very much illegal. Ld. DR for assessee has though relied upon statements of Shri Anand Sharma and the observations made by AO in various paras of assessment-order (as narrated by us in foregoing paras of this order) but, however, could not controvert these vital points as noted by us. Page 27 of 44 M/s Decent

DR. VINOD BHANDARI,INDORE vs. THE ACIT CIR. 2(1), INDORE

In the result appeal of the assessee is allowed

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2012-13 Shri Vinod Bhandari, Pr. Cit(1), Indore 21- Gf, Bhandari House, Talkies, Scheme No.54, Vs. Vijay Nagar, Indore (Appellant) (Revenue ) Pan No.Abnpb6240M Assessment Year: 2012-13

56,983/- (-) Rs.54,23,189/-) was disallowed. Ld. A.O also observed that there were huge cash deposits in the bank account of the assessee during the month of February and March. Assessee claimed that the surrendered income of Rs.7 crores which was invested in the form of hundi matured during the year and the money so received (Principal and Interest

SHRI VINOD BHANDARI,INDORE vs. THE PR.CIT-1, INDORE

In the result appeal of the assessee is allowed

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2012-13 Shri Vinod Bhandari, Pr. Cit(1), Indore 21- Gf, Bhandari House, Talkies, Scheme No.54, Vs. Vijay Nagar, Indore (Appellant) (Revenue ) Pan No.Abnpb6240M Assessment Year: 2012-13

56,983/- (-) Rs.54,23,189/-) was disallowed. Ld. A.O also observed that there were huge cash deposits in the bank account of the assessee during the month of February and March. Assessee claimed that the surrendered income of Rs.7 crores which was invested in the form of hundi matured during the year and the money so received (Principal and Interest

DR. VINOD BHANDARI,INDORE vs. THE DCIT CIR. 2(1), INDORE

In the result appeal of the assessee is allowed

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2012-13 Shri Vinod Bhandari, Pr. Cit(1), Indore 21- Gf, Bhandari House, Talkies, Scheme No.54, Vs. Vijay Nagar, Indore (Appellant) (Revenue ) Pan No.Abnpb6240M Assessment Year: 2012-13

56,983/- (-) Rs.54,23,189/-) was disallowed. Ld. A.O also observed that there were huge cash deposits in the bank account of the assessee during the month of February and March. Assessee claimed that the surrendered income of Rs.7 crores which was invested in the form of hundi matured during the year and the money so received (Principal and Interest

NILIMA KOTHARI,INDORE vs. THE INCOME TAX OFFICER, NATIONAL FACELESS ASSTT. CENTRE, INDORE

In the result appeal of the assessee is allowed as per terms indicated above

Bench: Shri Manish Boradsmt. Neelima Kothari, Income Tax Officer, 601, N.R.K. Villas, Delhi Vs. 22/2 Manoramaganj, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Adnpk7832J Assessee By Shri S.S. Deshpande, Ar Revenue By Shri Ashish Porwal, Sr.Dr Date Of Hearing 08.08.2024 Date Of Pronouncement 20.09.2024

viii) The time limitation for issuance of notice under section 148 of the Act is proposed to be provided in section 149 of the Act and is as below: • in normal cases, no notice shall be issued if three years have elapsed from the end of the relevant assessment year. Notice beyond the period of three years from

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

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

68 of the Act to justify the identity and creditworthiness of 43 Surya Infraventure ITA 216 of 2021 and others the investor company and genuineness of the transactions entered into with the said company. Further, the findings of the Ld. CIT(A) have not been controverted by the Ld. CIT-DR by bringing any contrary material on record. Hence

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

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

68 of the Act to justify the identity and creditworthiness of 43 Surya Infraventure ITA 216 of 2021 and others the investor company and genuineness of the transactions entered into with the said company. Further, the findings of the Ld. CIT(A) have not been controverted by the Ld. CIT-DR by bringing any contrary material on record. Hence

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

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

68 of the Act to justify the identity and creditworthiness of 43 Surya Infraventure ITA 216 of 2021 and others the investor company and genuineness of the transactions entered into with the said company. Further, the findings of the Ld. CIT(A) have not been controverted by the Ld. CIT-DR by bringing any contrary material on record. Hence

THE DCIT, 2(1), INDORE vs. SHRI KESHAV KUMAR NACHANI, INDORE

In the result, all the appeals of the Revenue are dismissed

Bench: Smt. Madhumita Roy & Shri Bhagirath Mal Biyani

section 145(3) of the Act. He accordingly reversed the action of the AO in rejecting the books of accounts of the assessee by holding that the AO was not correct in rejecting the books of accounts. Thereafter, the ld.CIT(A) deleted additions made on account of estimation of gross profit in the transactions of sale of gold

THE DCIT, 2(1), INDORE vs. SHRI KESHAV KUMAR NACHANI, INDORE

In the result, all the appeals of the Revenue are dismissed

Bench: Smt. Madhumita Roy & Shri Bhagirath Mal Biyani

section 145(3) of the Act. He accordingly reversed the action of the AO in rejecting the books of accounts of the assessee by holding that the AO was not correct in rejecting the books of accounts. Thereafter, the ld.CIT(A) deleted additions made on account of estimation of gross profit in the transactions of sale of gold

JCIT(OSD),-2(1),INDORE, INDORE vs. SHRI KESHAV KUMAR NACHANI, INDORE

In the result, all the appeals of the Revenue are dismissed

Bench: Smt. Madhumita Roy & Shri Bhagirath Mal Biyani

section 145(3) of the Act. He accordingly reversed the action of the AO in rejecting the books of accounts of the assessee by holding that the AO was not correct in rejecting the books of accounts. Thereafter, the ld.CIT(A) deleted additions made on account of estimation of gross profit in the transactions of sale of gold

ACIT CENTTRAL -2 INDORE, INDORE vs. M/S KALYAN TOLL INFRASTRUCTURE LTD, INDORE

Accordingly ground no. 2 of the cross objection stands allowed

Bench: Shri Mahavir Prasad & Shri Manish Boradvirtual Hearing Assessment Year:2013-14 Dcit Central-2, M/S Kalyan Toll Infrastructure Indore Ltd., Indore बनाम/ (Appellant) (Respondent ) Vs. P.A. No.Aacck1840M

2. Brief facts of the case as culled out from the records are that the assessee M/s Kalyan Toll Infrastructure Ltd. was incorporated on 03.07.2002 and is engaged in BOT contract and civil construction contract business during the year under consideration and is managed and controlled by Garg Family of Indore (Kalyan Group). The erstwhile flagship company of the group

ASSISSTANT COMMISSIONER OF INCOME TAX - 4(1), INDORE, INDORE vs. PRATAAP SNACKS LIMITED, INDORE

In the result revenue’s appeal is dismissed and assessee’s cross-objection is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

viii)Flavour Application (iii)Destoning (vi) Peeling That as a first or initial step, the potatoes are sorted as per their size and then put into elevator. After that it goes through de-stoning to remove foreign particles like stones Page 28 of 57 Prataap Snacks Limited ITA Nos.370 to 374 & C.O No.6 & 7 and clay etc. and the outer

ASSISSTANT COMMISSIONER OF INCOME TAX - 4(1), INDORE, INDORE vs. PRATAAP SNACKS LIMITED, INDORE

In the result revenue’s appeal is dismissed and assessee’s cross-objection is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

viii)Flavour Application (iii)Destoning (vi) Peeling That as a first or initial step, the potatoes are sorted as per their size and then put into elevator. After that it goes through de-stoning to remove foreign particles like stones Page 28 of 57 Prataap Snacks Limited ITA Nos.370 to 374 & C.O No.6 & 7 and clay etc. and the outer

ASSISSTANT COMMISSIONER OF INCOME TAX - 4(1), INDORE, INDORE vs. PRATAAP SNACKS LIMITED, INDORE

In the result revenue’s appeal is dismissed and assessee’s cross-objection is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

viii)Flavour Application (iii)Destoning (vi) Peeling That as a first or initial step, the potatoes are sorted as per their size and then put into elevator. After that it goes through de-stoning to remove foreign particles like stones Page 28 of 57 Prataap Snacks Limited ITA Nos.370 to 374 & C.O No.6 & 7 and clay etc. and the outer

ASSISTANT COMMISSIONER OF INCOME TAX - 4(1), INDORE, INDORE vs. PRATAAP SNACKS LIMITED, INDORE

In the result revenue’s appeal is dismissed and assessee’s cross-objection is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

viii)Flavour Application (iii)Destoning (vi) Peeling That as a first or initial step, the potatoes are sorted as per their size and then put into elevator. After that it goes through de-stoning to remove foreign particles like stones Page 28 of 57 Prataap Snacks Limited ITA Nos.370 to 374 & C.O No.6 & 7 and clay etc. and the outer