DCIT, CENTRAL CIRCLE-2(1), NAGPUR, NAGPUR vs. D. P. JAIN DATIA BHANDER TOLL ROAD PROJECT PVT. LTD., NAGPUR

ITA 486/NAG/2025Status: DisposedITAT Nagpur18 June 2026AY 2013-144 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that a coordinate bench had previously quashed the Section 263 order. Despite the Revenue's appeal to the High Court, the Tribunal found no merit in the grounds of appeal as they stood.

What were the facts?

The Revenue filed appeals against the CIT(A)'s orders for AY 2013-14. The impugned orders were passed under Section 143(3) read with Section 263 of the Act, involving re-determination of fair market value of shares and additions under Section 56(2)(7b).

What were the issues?

Whether the Revenue's appeals have merit when the underlying Section 263 order has already been quashed by a coordinate bench.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 263,Section 56(2)(7b),Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, NAGPUR BENCH :: NAGPUR

Before: SHRI ANUBHAV SHARMA & SHRI KHETTRA MOHAN ROY

For Appellant: Shri Hitesh P. Shah, CA
For Respondent: Shri Pankaj Kumar, CIT DR
Hearing: 17.06.2026Pronounced: 18.06.2026

PER ANUBHAV SHARMA, JM:

These appeal filed by the Revenue are directed against the order of Ld. Commissioner of Income Tax (Appeals (for short, “CIT(A)”), dated 28/05/2025, 29/05/2025 & 30/05/2025 respectively passed under section 250 of the ITA Nos. 483, 485 & 486/NAG/2025 (D.P. Jain Ujjain Package (Annuity) Road Projects. Pvt. Ltd.)

Income Tax Act, 1961 (for short, “Act”), for the Assessment Year (AY) 2013-14. 2. On hearing both sides, we find that the Department had sought an adjournment on the basis that they intend to file additional grounds and also for the reason that the o

The order continues below.

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