M/S RANA & JOSHI BUILDTECH P LTD,INDORE vs. THE PCIT-1, BHOPAL

In the result, the appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S. Rana & Joshi Buildtech Pr. Cit-1 Pvt. Ltd. Bhopal (Formerly Known As M/S Rana Buildtech Pvt. Ltd. ) Vs. 218 Civil Lines, Below Dainik Bhaskar Office Vidisha (Appellant / Assessee) (Respondent/ Revenue) Pan: Aafcr9858P Assessee By Shri S.N. Agrawal Ar Revenue By Shri Ram Kumar Yadav, Cit-Dr Date Of Hearing 11.09.2024 Date Of Pronouncement 26 .09.2024

220/- therefore, the jurisdiction to frame the assessment lies with DCIT/ACIT circle 4(1) Bhopal and not with ITO Bhopal. Ld. AR has referred to the assessment order and submitted that after initiating scrutiny assessment by issuing notice u/s 143(2) the case was subsequently transferred to DCIT 4(1) Bhopal which itself shows that initiation of the scrutiny proceedings

THE DCIT1(1), INDORE vs. SHRI RAVI ARORA, INDORE

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year:2011-12 Dcit-5(1), Shri Ravi Arora, Indore 1007, Khatiwala Tank, बनाम/ 236, Indraprasth Tower, 6, M.G. Road, Vs. Indore. (Revenue / Appellant) (Assessee / Respondent) Pan: Agdpa8921H Assessee By Shri Yash Kukreja, Ca & Shri Hitesh Chimnani, Adv & Ld. Ars Revenue By Shri P.K.Mishra, Cit Dr Date Of Hearing 04.05.2023 Date Of Pronouncement 31.07.2023

transferred the loan amount to the assessee firm. (iv) copy of income tax return, PAN and balance sheet of the three companies for the year under appeal. (v) copy of assessment orders (vi) copy of bank statement of the assessee firm wherein credit of unsecured loans is accepted and appearing. (vii) copy of loan account of the loan creditors

M/S PARTH DEVELOPERS,DHAR vs. THE PCIT -1, INDORER

In the result, appeal of assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S. Parth Developers Pr. Cit-1 Manawar Dist. Indore Vs. Dhar (Appellant / Assessee) (Respondent/ Revenue) Pan: Aalfp 4509 N Assessee By Shri Milind Wadhwani, Ar Revenue By Shri P.K. Mishra, Cit-Dr Date Of Hearing 22.06.2023 Date Of Pronouncement 28.07.2023

transfer of plot of land by the assesse less than the value adopted by the stamp duty authority & addition on account of sundry creditors. Therefore, the AO has conducted a due inquiry in respect of the issues which were taken up for limited scrutiny. The Pr. CIT has invoked the provisions of section 263 on the ground that

DEPUTY COMMISSIONER OF INCOME TAX(EXEMPTION), BHOPAL, BHOPAL vs. INDORE DEVELOPMENT AUTHORITY, INDORE

Appeals are allowed and revenue’s appeals

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

Section 37 of the Act matter and constitute the test. Expenditure incurred in furtherance of and connected with the business and commercial activities for which the respondent-assessee was established cannot be disallowed as expenditure not relatable and incurred for 'business' purposes. 15. On the question of capital expenditure, the assessing officer did Page 16 of 29 Indore Development Authority

INDORE DEVELOPMENT AUTHORITY ,INDORE vs. DCIT (EXEMPTION CIRCLE), BHOPAL

Appeals are allowed and revenue’s appeals

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

Section 37 of the Act matter and constitute the test. Expenditure incurred in furtherance of and connected with the business and commercial activities for which the respondent-assessee was established cannot be disallowed as expenditure not relatable and incurred for 'business' purposes. 15. On the question of capital expenditure, the assessing officer did Page 16 of 29 Indore Development Authority

DEPUTY COMMISSIONER OF INCOME TAX(EXEMPTION), BHOPAL, BHOPAL, MADHYA PRADESH vs. INDORE DEVELOPMENT AUTHORITY, INDORE

Appeals are allowed and revenue’s appeals

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

Section 37 of the Act matter and constitute the test. Expenditure incurred in furtherance of and connected with the business and commercial activities for which the respondent-assessee was established cannot be disallowed as expenditure not relatable and incurred for 'business' purposes. 15. On the question of capital expenditure, the assessing officer did Page 16 of 29 Indore Development Authority

DEPUTY COMMISSIONER OF INCOME TAX(EXEMPTION), BHOPAL, BHOPAL vs. INDORE DEVELOPMENT AUTHORITY, INDORE

Appeals are allowed and revenue’s appeals

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

Section 37 of the Act matter and constitute the test. Expenditure incurred in furtherance of and connected with the business and commercial activities for which the respondent-assessee was established cannot be disallowed as expenditure not relatable and incurred for 'business' purposes. 15. On the question of capital expenditure, the assessing officer did Page 16 of 29 Indore Development Authority

INDORE DEVELOPMENT AUTHORITY ,INDORE vs. DCIT ( EXEMPTION CIRCLE) , BHOPAL

Appeals are allowed and revenue’s appeals

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

Section 37 of the Act matter and constitute the test. Expenditure incurred in furtherance of and connected with the business and commercial activities for which the respondent-assessee was established cannot be disallowed as expenditure not relatable and incurred for 'business' purposes. 15. On the question of capital expenditure, the assessing officer did Page 16 of 29 Indore Development Authority

DEPUTY COMMISSIONER OF INCOME TAX(EXEMPTION), BHOPAL, BHOPAL vs. INDORE DEVELOPMENT AUTHORITY, INDORE

Appeals are allowed and revenue’s appeals

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

Section 37 of the Act matter and constitute the test. Expenditure incurred in furtherance of and connected with the business and commercial activities for which the respondent-assessee was established cannot be disallowed as expenditure not relatable and incurred for 'business' purposes. 15. On the question of capital expenditure, the assessing officer did Page 16 of 29 Indore Development Authority

INDORE DEVELOPMENT AUTHORITY,INDORE vs. DCIT (EXEMPTION CIRCLE), BHOPAL

Appeals are allowed and revenue’s appeals

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

Section 37 of the Act matter and constitute the test. Expenditure incurred in furtherance of and connected with the business and commercial activities for which the respondent-assessee was established cannot be disallowed as expenditure not relatable and incurred for 'business' purposes. 15. On the question of capital expenditure, the assessing officer did Page 16 of 29 Indore Development Authority

INDORE DEVELOPMENT AUTHORITY ,INDORE vs. DCIT (EXEMPTION CIRCLE), BHOPAL

Appeals are allowed and revenue’s appeals

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

Section 37 of the Act matter and constitute the test. Expenditure incurred in furtherance of and connected with the business and commercial activities for which the respondent-assessee was established cannot be disallowed as expenditure not relatable and incurred for 'business' purposes. 15. On the question of capital expenditure, the assessing officer did Page 16 of 29 Indore Development Authority

DEPUTY COMMISSIONER OF INCOME TAX, EXEMPTION, BHOPAL, BHOPAL vs. INDORE DEVELOPMENT AUTHORITY, INDORE, INDORE

Appeals are allowed and revenue’s appeals

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

Section 37 of the Act matter and constitute the test. Expenditure incurred in furtherance of and connected with the business and commercial activities for which the respondent-assessee was established cannot be disallowed as expenditure not relatable and incurred for 'business' purposes. 15. On the question of capital expenditure, the assessing officer did Page 16 of 29 Indore Development Authority

RADHESHYAM KHANDELWAL,INDORE vs. ACIT4(1), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

2 per share Total purchase consideration paid Rs. 20, 000/- Rs. 20, 000/- Rs. 20, 000/- Rs. 20, 000/- Date of shares sold 23.07.2013 06.09.2013 19.10.2013 24.09.2013 (3000 shares), (10000 shares) (10000 shares) 03.09.2013 (3000 shares) and 10.09.2013 (4000 shares) Sale Price per share Rs. 314.88, Rs. 276.70 Rs. 178. 85 Rs. 182.60 Rs. 151.25 per share per share

MOHANLAL KHANDELWAL,INDORE vs. THE ITO-4(1), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

2 per share Total purchase consideration paid Rs. 20, 000/- Rs. 20, 000/- Rs. 20, 000/- Rs. 20, 000/- Date of shares sold 23.07.2013 06.09.2013 19.10.2013 24.09.2013 (3000 shares), (10000 shares) (10000 shares) 03.09.2013 (3000 shares) and 10.09.2013 (4000 shares) Sale Price per share Rs. 314.88, Rs. 276.70 Rs. 178. 85 Rs. 182.60 Rs. 151.25 per share per share

SMT. RUKMANI KHANDELWAL,INDORE vs. ITO-4(3), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

2 per share Total purchase consideration paid Rs. 20, 000/- Rs. 20, 000/- Rs. 20, 000/- Rs. 20, 000/- Date of shares sold 23.07.2013 06.09.2013 19.10.2013 24.09.2013 (3000 shares), (10000 shares) (10000 shares) 03.09.2013 (3000 shares) and 10.09.2013 (4000 shares) Sale Price per share Rs. 314.88, Rs. 276.70 Rs. 178. 85 Rs. 182.60 Rs. 151.25 per share per share

SHRI SURESH KHANDELWAL,INDORE vs. THE ITO-4(1), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

2 per share Total purchase consideration paid Rs. 20, 000/- Rs. 20, 000/- Rs. 20, 000/- Rs. 20, 000/- Date of shares sold 23.07.2013 06.09.2013 19.10.2013 24.09.2013 (3000 shares), (10000 shares) (10000 shares) 03.09.2013 (3000 shares) and 10.09.2013 (4000 shares) Sale Price per share Rs. 314.88, Rs. 276.70 Rs. 178. 85 Rs. 182.60 Rs. 151.25 per share per share

SMT. SANDHYA KHANDELWAL,INDORE vs. ITO 4(3), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

2 per share Total purchase consideration paid Rs. 20, 000/- Rs. 20, 000/- Rs. 20, 000/- Rs. 20, 000/- Date of shares sold 23.07.2013 06.09.2013 19.10.2013 24.09.2013 (3000 shares), (10000 shares) (10000 shares) 03.09.2013 (3000 shares) and 10.09.2013 (4000 shares) Sale Price per share Rs. 314.88, Rs. 276.70 Rs. 178. 85 Rs. 182.60 Rs. 151.25 per share per share