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

73,734/-, however, the value of gold as per books of accounts of the assessee was at 19,423.678 gms valued at Rs. 4,25,98,165/-. Therefore, a difference in stock of 6433.812 gms was found amounting to Rs. 1,41,75,569/-. Statement of Shri Anoop Nema was recorded on oath on 16.12.2016, wherein, he has accepted value

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 cannot be invoked in the very first place, the question of any additions u/s. 68 of the Act does not arises. Thus, in view of the above, the entire addition of Ks. 27,57,710/- u/s. 68 of the Act is liable to be deleted. Reliance in this regard is placed

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

68 of the Act or deny claim of exemption under section 10(38) of the Act and therefore, the addition made and confirmed is invalid. 2.7 That various adverse findings and conclusions recorded by the learned Commissioner of Income Tax (Appeals) are factually incorrect and contrary to record, legally misconceived and untenable. 2.8 That the learned Commissioner of Income

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 of the Act, viz. identity of “A” & “J”, genuineness of transactions and creditworthiness of “A” & “J”, have been duly established by furnishing a large number of statutory and non-statutory documents. In Para 5.2 of appeal-order, the CIT(A) has already accepted the satisfaction of first two ingredients i.e. the identity of “A” & “J” and genuineness

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 3, Balbir Chand Maini Vs CIT [2011J 12 taxmann.com 276 (Punjab & Haryana) / [2011] 201 Taxman 94 (Punjab & Haryana (MAG.) / [2012] 340 ITR 161 (Punjab & Haryana) / [2012] 247 CTR 468 (Punjab & Haryana) Section 69 of the Income-tax Act, 1961 - Unexplained investments Assessment year 1998-99 During assessment proceedings, Assessing Officer found that assessee had purchased certain shares

THE ACIT-5(1), INDORE vs. M/S. SUNDERDEEP CONSTRUCTION PVT. LTD., INDORE

In the result all the grounds raised by the Revenue are

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Boradassessment Year 2012-13

73,400/- by Ld. A.O. after disallowance u/s 40A(3) of the Act at Rs.4,26,000/- , addition u/s 68 of the Act on account of bogus cash credit introduced in the books of account at Rs.2,76,42,000/- and addition of bogus creditors at Rs.83,05,400/- . Aggrieved assessee preferred appeal before Ld. CIT(A) and succeeded

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

SRIYANS KUMAR JAIN HUF,BERASIA vs. PCIT (CENTRAL), BHOPAL, BHOPAL

Appeal is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2019-20 Sriyans Kumar Jain Huf, Pcit (Central), Prop. Of M/S Siryans Bhopal Kumar Akshay Kumar Jain, बनाम/ Main Road, Vs. Berasia

73,000/- including the surrendered income of Rs. 33,86,608/- offered during survey. The case of assessee was selected for scrutiny assessment. While completing assessment, the AO accepted returned income of assessee but, however, taxed the surrendered income of Rs. 33,86,608/- as per higher rate of tax u/s 115BBE. 3. Subsequently, Ld. PCIT examined the record

CHANDRA SAHU,BHOPAL vs. ITO-1(4), BHOPAL

In the result appeal of the assessee for Assessment Year 2010-

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Roy

section 68 not applicable - In view of the noting in the assessment order at page 4 point (f) •••••••••••••••••• No books of accounts were maintained by the assessee and income trom business has been offered to tax u/s 44AD ofl.T. Act ... N, no addition can be made u/s 68. Bank statements are not the books of accounts of assessee

CHANDRA SAHU,BHOPAL vs. ITO-1(4), BHOPAL

In the result appeal of the assessee for Assessment Year 2010-

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Roy

section 68 not applicable - In view of the noting in the assessment order at page 4 point (f) •••••••••••••••••• No books of accounts were maintained by the assessee and income trom business has been offered to tax u/s 44AD ofl.T. Act ... N, no addition can be made u/s 68. Bank statements are not the books of accounts of assessee

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 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

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

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

73,844/-, we observe that the assessee filed the original return on 28.3.2013 and revised return on 18.3.2015. In the revised return the correct claim of interest expenditure was made. Though the original return was belated but still in the given case where the assessee has ITA Nos.350 & 66/Ind/2017 & ITANo.57/Ind/2019 Vinod Bhandari revised the return before the case

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

73,844/-, we observe that the assessee filed the original return on 28.3.2013 and revised return on 18.3.2015. In the revised return the correct claim of interest expenditure was made. Though the original return was belated but still in the given case where the assessee has ITA Nos.350 & 66/Ind/2017 & ITANo.57/Ind/2019 Vinod Bhandari revised the return before the case

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

73,844/-, we observe that the assessee filed the original return on 28.3.2013 and revised return on 18.3.2015. In the revised return the correct claim of interest expenditure was made. Though the original return was belated but still in the given case where the assessee has ITA Nos.350 & 66/Ind/2017 & ITANo.57/Ind/2019 Vinod Bhandari revised the return before the case

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

73). Similarly details of commission and bills and sales effected by M/s. Chanchal Jain, Ms. Leena Mohanty and Mr. R. K. Jain were also filed. Therefore, we are of the considered opinion that the ld. CIT(A) was not justified in deleting only 50% of the commission payments paid to private parties debited to the profit and loss account

SHRI DIGAMBER JAIN YUVAK SANGH,INDORE, M.P. vs. THE NFAC, DELHI, DELHI

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

Bench: Shri Siddhartha Nautiyal & Shri Bhagirath Mal Biyani

73,97,814/- as unexplained cash credit under section 68 of the Act and completed the assessment under sections