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 and silver

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 and silver

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

transfer, either at the time of purchase or at the time of sale of share by the appellant, treatment of LTCG as unexplained credit under section 68 of the Act and confirmation thereof by Ld. CIT(A) is wholly unjustified, improper and bad in law. 06) Section 68: Issue: Burden to prove :- That the Commissioner of Income tax (A) erred

M/S CENTURY 21 MALLS P. LTD.,INDORE vs. THE ACIT 2(1), INDORE

In the result, all appeals of the Revenue are dismissed, while all appeals of the assessee are allowed

Bench: Smt. Madhumita Roy & Shri Bhagirath Mal Biyani

transferred from one entity to another, or amongst the above three companies; that therefore it was a case where section 292C would come to play, because despite number of instances of unaccounted money being not recognized in the accounts. He held that integration of all the three accounts and taking all the unaccounted and accounts of all three companies together

THE DCIT, 2(1), INDORE vs. M/S. CENTURE 21 MALL PVT. LTD., INDORE

In the result, all appeals of the Revenue are dismissed, while all appeals of the assessee are allowed

Bench: Smt. Madhumita Roy & Shri Bhagirath Mal Biyani

transferred from one entity to another, or amongst the above three companies; that therefore it was a case where section 292C would come to play, because despite number of instances of unaccounted money being not recognized in the accounts. He held that integration of all the three accounts and taking all the unaccounted and accounts of all three companies together

THE DCIT-2(1), INDORE vs. M/S. CENTURY 21 MALL (P) LTD., INDORE

In the result, all appeals of the Revenue are dismissed, while all appeals of the assessee are allowed

Bench: Smt. Madhumita Roy & Shri Bhagirath Mal Biyani

transferred from one entity to another, or amongst the above three companies; that therefore it was a case where section 292C would come to play, because despite number of instances of unaccounted money being not recognized in the accounts. He held that integration of all the three accounts and taking all the unaccounted and accounts of all three companies together

M/S SHREE JAIRAM EDUCATION SOCIETY,BHOPAL vs. ACIT CENTRAL-II, BHOPAL

In the result, appeal of the assessee in ITANo

Bench: Hon’Ble Rajpal Yadav & Shri Manish Boradvirtual Hearing

153A or 153C were issued. Assessment proceedings u/s 147 rws 143(3) were completed for AY 2010-11 on 29.12.2017. These proceedings for AY 2010-11 were centralized u/s 127 only for the limited purpose of co-ordinate assessment. [PB 42 – 58] 11 Shri Jairam Education Society ITA No.90 & 548/Ind/2019 6. Para 19 – “We further observe that

M/S SHREE JAIRAM EDUCATION SOCIETY,BHOPAL vs. PR. CIT (CENTRAL), BHOPAL

In the result, appeal of the assessee in ITANo

Bench: Hon’Ble Rajpal Yadav & Shri Manish Boradvirtual Hearing

153A or 153C were issued. Assessment proceedings u/s 147 rws 143(3) were completed for AY 2010-11 on 29.12.2017. These proceedings for AY 2010-11 were centralized u/s 127 only for the limited purpose of co-ordinate assessment. [PB 42 – 58] 11 Shri Jairam Education Society ITA No.90 & 548/Ind/2019 6. Para 19 – “We further observe that

M/S ASHOKA HI-TECH BUILDERS P. LTD.,INDORE vs. THE DCIT (CENTRAL)-1, INDORE

In the result Ground No.1 and 2 of the assessee’s appeal for A

Bench: Shri Kul Bharat & Shri Manish Borad

153A of the Act on 12.7.2013. Thereafter notices u/s 143(2) and 142(1) of the Act were duly served upon the assessee and necessary details were called for from the assessee. The issue linked to the grounds raised in this appeal relates to agreement dated 1.4.2009 entered into between the assessee and M/s. JSM Devcon Pvt.Ltd. The assessee

AG-8 VENTURES LTD.,BHOPAL vs. ACIT, CENTRAL-1, BHOPAL

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

153A; the payment was covered under Rule 6DD(g); and that the payment was a genuine expenditure and was made under business expediency. The order of the Ld. CIT(A) is therefore sustained on this issue. Thus IT(SS)A No.83,84,86,87,90,91,109,110 & ITA, No.922 &923/Ind/2019 AG8 Ventures Ltd. Ground No.1 of Revenue’s Appeal

AG-8 VENTURES LTD.,BHOPAL vs. ACIT, CENTRAL-1, BHOPAL

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

153A; the payment was covered under Rule 6DD(g); and that the payment was a genuine expenditure and was made under business expediency. The order of the Ld. CIT(A) is therefore sustained on this issue. Thus IT(SS)A No.83,84,86,87,90,91,109,110 & ITA, No.922 &923/Ind/2019 AG8 Ventures Ltd. Ground No.1 of Revenue’s Appeal

VAISHALI DEVELOPERS AND BUILDERS ,BHOPAL vs. INCOME TAX OFFICER -1(2), BHOPAL

Appeals are allowed

Bench: Shri B.M. Biyani & Shri Udayan Das Gupta

section 80-IB(10), the entirety of project including development of infrastructure must be undertaken by assessee. According to Ld. DR, ‘entire project’ would mean development as a cohesive unit which includes the construction of houses with development of essential amenities. In the case of assessee, the buyers have first acquired ownership of plots from assessee through registered Sale-Deeds

CHIRAYU CHARITABLE FOUNDATION,BHOPAL vs. PCIT (CENTRAL), BHOPAL

In the result appeal of the assessee stands allowed

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradchirayu Charitable Pcit (Central), Foundation,Bhopal Indore Bhopal Highway, Bhaisakhedi, Vs. Bhopal (Appellant) (Revenue ) Pan No.Aaaac3656P Revenue By Shri S.S. Mantri, Cit Appellant By S/Shri Sumit Nema, Sr. Advocate, Gagan Tiwari & Piyush Parashar, Advs Date Of Hearing 05.01.2021 Date Of Pronouncement .02.2021 O R D E R Per Manish Borad, Am.

transferred to the groups donation account through a journal entry passed on 29.8.2011. The assessment of the assessee was completed u/s 143(3) of the Act for Assessment Year 2011-12 on 18.3.2014 in normal course and during the course of proceedings confirmation of loan creditors were filed, copy of bank account of M/s Riviera Infoway Ltd along with

THE ACIT, CENTRAL-2, INDORE vs. M/S. CHUGH REALTY, INDORE

In the result, the appeals of the Revenue for the A

Bench: Shri Rajpal Yadav Hon'Ble & Shri Manish Borad(Virtual Hearing)

transfer of such capital asset has to be charged only under the provisions of s.45 of the Act. We find merit in the argument of the AR that under provisions of clause (b) of section 153A, the Assessing Officer is required to assess or reassess the total income of an assessee. We also find that the expression ‘total income

THE ACIT, CENTRAL-2, INDORE vs. SHRI NITESH CHUGH, INDORE

In the result, the appeals of the Revenue for the A

Bench: Shri Rajpal Yadav Hon'Ble & Shri Manish Borad(Virtual Hearing)

transfer of such capital asset has to be charged only under the provisions of s.45 of the Act. We find merit in the argument of the AR that under provisions of clause (b) of section 153A, the Assessing Officer is required to assess or reassess the total income of an assessee. We also find that the expression ‘total income

THE ACIT, CENTRAL-2, INDORE vs. SHRI MOHANLAL CHUGH, INDORE

In the result, the appeals of the Revenue for the A

Bench: Shri Rajpal Yadav Hon'Ble & Shri Manish Borad(Virtual Hearing)

transfer of such capital asset has to be charged only under the provisions of s.45 of the Act. We find merit in the argument of the AR that under provisions of clause (b) of section 153A, the Assessing Officer is required to assess or reassess the total income of an assessee. We also find that the expression ‘total income

SHRI NARENDRA TRIPATHI,BHOPAL vs. THE DCIT-CENTRAL-1, BHOPAL

In the result the appeal of the assessee for Assessment Year

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

transfer by an assessee”. Thus the provision of Section 50C is primarily applicable on the seller of the property. There is no evidence on record which could show that the Ld. A.O carried out any investigation against the seller or took his/her statement or whether any addition has been made in the hands of the seller for the alleged amount

THE ACIT, (CENTRAL)-1, INDORE vs. M/S. PRAKASH ASHPHLTING & TOLL HIGHWAY LTD., INDORE

Appeals are dismissed

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

153A of the Act once the assessee has denied the transactions of any cash loan allegedly recorded in the LPS-1 as well as in the tally account found in the laptop. Once the assesse denied the alleged loan taken or payment of interest the AO was required to ascertain the truth by conducting a proper inquiry and at least

THE ACIT, (CENTRAL)-1, INDORE vs. M/S. PRAKASH ASHPHLTING & TOLL HIGHWAY LTD., INDORE

Appeals are dismissed

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

153A of the Act once the assessee has denied the transactions of any cash loan allegedly recorded in the LPS-1 as well as in the tally account found in the laptop. Once the assesse denied the alleged loan taken or payment of interest the AO was required to ascertain the truth by conducting a proper inquiry and at least