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

68), unexplained investment (Section 69) unexplained money etc (Section 69A) amount of investment which fully not disclosed (Section 69B) and unexplained

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

68), unexplained investment (Section 69) unexplained money etc (Section 69A) amount of investment which fully not disclosed (Section 69B) and unexplained

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

unexplained investment u/s 69 of the Act and made subsequent addition in the income of appellant by applying tax rate as per amended provisions of section 115BBE of the Act. First of all let me discuss whether the provisions of section 115BBE are applicable to this case or not. Therefore the relevant extract of pre-amended and post amended provisions

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

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

unexplained credits, money, investment, expenditure etc. which have been deemed as incomes under section 68, section 69, section 69A, section

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

Appeals are dismissed

unexplained income with the lender.\nFurther, as per requirement of section 68, the appellant was required to file\nITR, bank statement and such other document as requisited by AO during\nassessment proceeding/remand proceeding. No case is made out by the AO\nthat during remand proceeding he sought certain document and they were not\nsubmitted constraining him from establishing the credit

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

Appeals are dismissed

unexplained income with the lender.\nFurther, as per requirement of section 68, the appellant was required to file\nITR, bank statement and such other document as requisited by AO during\nassessment proceeding/remand proceeding. No case is made out by the AO\nthat during remand proceeding he sought certain document and they were not\nsubmitted constraining him from establishing the credit

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

Appeal is partly allowed for statistical purpose

money which is not recorded\nin the books of account. However, in the case of the assessee, it has\nmaintained books of accounts duly audited in accordance with section\n44AB of the Income Tax Act which was also furnished with the return of\nincome filed by the assessee. The assesse has demonstrated from the\npurchase books, sale books cash book

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)

unexplained money u/s 69A of the Act and unaccounted investment u/s 69B of the Act respectively and was rightly taxed u/s 115BBE of the Act. The Ld. Sr. DR placed vehemently reliance on the judgment of Hon’ble Punjab & Haryana High Court in the case of Kim Pharma (P.) Ltd. vs. Commissioner of Income Tax reported as [2013] 35 taxamann.com

NAKODA REALITIES,INDORE vs. ASSTT.COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, INDORE, INDORE

In the result, all three appeals of the assessee are allowed

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

unexplained money under Section 69A of the Act. Therefore, as a natural corollary, section 115BBE of the Act would not be applicable. 9. Having held so, we may further add that a reading of section 115BBE of the Act makes it clear that the special rate of tax provided under the said provisions shall be applicable under two conditions. Firstly

NAKODA REALITIES,INDORE vs. ASSTT.COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, INDORE, INDORE

In the result, all three appeals of the assessee are allowed

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

unexplained money under Section 69A of the Act. Therefore, as a natural corollary, section 115BBE of the Act would not be applicable. 9. Having held so, we may further add that a reading of section 115BBE of the Act makes it clear that the special rate of tax provided under the said provisions shall be applicable under two conditions. Firstly

NAKODA REALITIES,INDORE vs. ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, INDORE, INDORE

In the result, all three appeals of the assessee are allowed

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

unexplained money under Section 69A of the Act. Therefore, as a natural corollary, section 115BBE of the Act would not be applicable. 9. Having held so, we may further add that a reading of section 115BBE of the Act makes it clear that the special rate of tax provided under the said provisions shall be applicable under two conditions. Firstly

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

In the result, assessee’s appeal isallowed

Bench: Ms. Madhumita Roy& Shri Bhagirath Mal Biyani

unexplained cash credits without giving any reasons thereof and without any basis u/s. 68 of the Act of Rs. 27,57,710/- to the income without any basis and without looking at the facts of the instant case and without appreciating the submissions made by the assessee during the course of the assessment proceedings which is not in accordance with

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

money, share capital, share premium or any such amount ITA No.281/Ind/2018 (ACIT vs. M/s. Vindhya Solvent Pvt. Ltd.) A.Y.–2014-15 - 31 - by whatever name called, any explanation offered by such Appellant-Company shall be deemed to be not satisfactory, unless— c) the person, being a resident in whose name such credit is recorded in the books of such Company

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

unexplained credit in terms of section 68 of the Income Tax Act, 1961 The matter travelled upto Honble ITAT. D-Bench Channai. It was clearly observed by the bench that the shares of Mj s Surabhi Chemicals & Investments Ltd. was sky rocketed without having any substantial profit, EBIDTA margin, BPS bonus, dividend etc. None of the criteria essential for increase

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

money was received by assessee. The CIT(A) and AO have, however, attempted to require the assessee to satisfy the requirement of Proviso to section 68 i.e. to explain ‘source of source’ although the said Proviso itself was not there in section 68 at that time. Undisputably, the Proviso came into being from AY 2013-14 and the Courts have

M/S. ASPIRANT MERCANTILE COMPANY PRIVATE LIMITED,INDORE vs. THE ITO 3(3), INDORE

In the result, these three appeals of by different assessees in ITANo

Bench: Hon'Ble I Kul Bharat & Hon'Ble Manish Boradassessment Year: 2010-11 Avocado Trading Company Private Ito 3(3) Limited Indore बनाम/ G.J. Shah & Company, Chartered Vs. Accountants 404, Manas Bhawan, 11 Rnt Marg, Indore-452001 (Appellant) (Revenue) Pan: Aagca4206K Assessment Year: 2010-11 Aspirant Mercantile Company Private Ito 3(3) Limited Indore बनाम/ G.J. Shah & Company,Chartered Vs. Accountants 404, Manas Bhawan, 11 Rnt Marg, Indore-452001 (Appellant) (Revenue) Pan: Aagca4207J

money amounting to Rs. 94,00,000/- received towards share capital and share premium under Section 68 on the alleged ground that it is unexplained

M/S. AVOCADO TRADING COMPANY PRIVATE LIMITED,INDORE vs. THE ITO 3(3), INDORE

In the result, these three appeals of by different assessees in ITANo

Bench: Hon'Ble I Kul Bharat & Hon'Ble Manish Boradassessment Year: 2010-11 Avocado Trading Company Private Ito 3(3) Limited Indore बनाम/ G.J. Shah & Company, Chartered Vs. Accountants 404, Manas Bhawan, 11 Rnt Marg, Indore-452001 (Appellant) (Revenue) Pan: Aagca4206K Assessment Year: 2010-11 Aspirant Mercantile Company Private Ito 3(3) Limited Indore बनाम/ G.J. Shah & Company,Chartered Vs. Accountants 404, Manas Bhawan, 11 Rnt Marg, Indore-452001 (Appellant) (Revenue) Pan: Aagca4207J

money amounting to Rs. 94,00,000/- received towards share capital and share premium under Section 68 on the alleged ground that it is unexplained