ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, GUWAHATI vs. ROHIT JAIN, SHILLONG

In the result, the appeals filed by the Revenue are dismissed

Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad

120/- for the assessment year under dispute. The instant appeal arises out of the impugned appellate order dated 08-04-2019 passed by the Ld. Commissioner of Income Tax (Appeals)- 1, Guwahati [hereinafter referred to as the Ld. Commissioner (Appeals) for the sake of brevity who reversed the action of the Ld. Assessing Officer in respect of the addition made

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, GUWAHATI vs. ROHIT JAIN, SHILLONG

In the result, the appeals filed by the Revenue are dismissed

Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad

120/- for the assessment year under dispute. The instant appeal arises out of the impugned appellate order dated 08-04-2019 passed by the Ld. Commissioner of Income Tax (Appeals)- 1, Guwahati [hereinafter referred to as the Ld. Commissioner (Appeals) for the sake of brevity who reversed the action of the Ld. Assessing Officer in respect of the addition made

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 4, GUWAHATI vs. M/S. A. T. C. REALTORS PVT. LTD., GUWAHATI

In the result, both the appeals of the Revenue are dismissed

Bench: Sri S.S. Godara, Jm & Dr. A.L. Saini, Am Aayakr Apila Sam./ Ita No. 169/Gau/2018 (Inaqa-Arna Baya- / Assessment Year 2012-13) Aayakr Apila Sam./ Ita No. 170/Gau/2018 (Inaqa-Arna Baya- / Assessment Year 2013-14) Dy. Commissioner Of Income-Tax, M/S Atc Realtors Pvt. Ltd. Circle-4, Aayakar Bhwawan, 5Th C/O. Atc Assam Ltd, Kedar Vs. Floor, Christanbasti, G.S. Road, Road, Machkhowa, Guwahati-781005 Guwahati-781001 (Apilaaqai- / Appellant) .. (P`%Yaqaai- / Respondent) स्थायी ऱेखा सं./Pan No. Aagca5209A

120/- on account of parking fees.” 4. Now, we take ground No. 1 raised by the Revenue which relates to action of ld CIT(A) in treating the amount of Rs.1,15,81,078/- as income from “profits and gains from business and profession” instead of “income from house property” 5. Brief facts qua the issue are that the assessee

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 4, GUWAHATI vs. M/S. A. T. C. REALTORS PVT. LTD., GUWAHATI

In the result, both the appeals of the Revenue are dismissed

Bench: Sri S.S. Godara, Jm & Dr. A.L. Saini, Am Aayakr Apila Sam./ Ita No. 169/Gau/2018 (Inaqa-Arna Baya- / Assessment Year 2012-13) Aayakr Apila Sam./ Ita No. 170/Gau/2018 (Inaqa-Arna Baya- / Assessment Year 2013-14) Dy. Commissioner Of Income-Tax, M/S Atc Realtors Pvt. Ltd. Circle-4, Aayakar Bhwawan, 5Th C/O. Atc Assam Ltd, Kedar Vs. Floor, Christanbasti, G.S. Road, Road, Machkhowa, Guwahati-781005 Guwahati-781001 (Apilaaqai- / Appellant) .. (P`%Yaqaai- / Respondent) स्थायी ऱेखा सं./Pan No. Aagca5209A

120/- on account of parking fees.” 4. Now, we take ground No. 1 raised by the Revenue which relates to action of ld CIT(A) in treating the amount of Rs.1,15,81,078/- as income from “profits and gains from business and profession” instead of “income from house property” 5. Brief facts qua the issue are that the assessee

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

68 & disallowing interest on borrowings and no reference has been made to any documents unearthed during the course of search at the premises of Bhagya Kalita. 19. That Sir all the loans has been accepted initially in FY 14-15 & FY 15- 16 has been repaid in FY 19-20. The interest payment has been paid yearly after deducting

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

68 & disallowing interest on borrowings and no reference has been made to any documents unearthed during the course of search at the premises of Bhagya Kalita. 19. That Sir all the loans has been accepted initially in FY 14-15 & FY 15- 16 has been repaid in FY 19-20. The interest payment has been paid yearly after deducting

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. ACIT, CENTRAL CIRCLE-1, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

68 & disallowing interest on borrowings and no reference has been made to any documents unearthed during the course of search at the premises of Bhagya Kalita. 19. That Sir all the loans has been accepted initially in FY 14-15 & FY 15- 16 has been repaid in FY 19-20. The interest payment has been paid yearly after deducting

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

68 & disallowing interest on borrowings and no reference has been made to any documents unearthed during the course of search at the premises of Bhagya Kalita. 19. That Sir all the loans has been accepted initially in FY 14-15 & FY 15- 16 has been repaid in FY 19-20. The interest payment has been paid yearly after deducting

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

68 & disallowing interest on borrowings and no reference has been made to any documents unearthed during the course of search at the premises of Bhagya Kalita. 19. That Sir all the loans has been accepted initially in FY 14-15 & FY 15- 16 has been repaid in FY 19-20. The interest payment has been paid yearly after deducting

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

68 & disallowing interest on borrowings and no reference has been made to any documents unearthed during the course of search at the premises of Bhagya Kalita. 19. That Sir all the loans has been accepted initially in FY 14-15 & FY 15- 16 has been repaid in FY 19-20. The interest payment has been paid yearly after deducting

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

68 & disallowing interest on borrowings and no reference has been made to any documents unearthed during the course of search at the premises of Bhagya Kalita. 19. That Sir all the loans has been accepted initially in FY 14-15 & FY 15- 16 has been repaid in FY 19-20. The interest payment has been paid yearly after deducting

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

68 & disallowing interest on borrowings and no reference has been made to any documents unearthed during the course of search at the premises of Bhagya Kalita. 19. That Sir all the loans has been accepted initially in FY 14-15 & FY 15- 16 has been repaid in FY 19-20. The interest payment has been paid yearly after deducting

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

68 & disallowing interest on borrowings and no reference has been made to any documents unearthed during the course of search at the premises of Bhagya Kalita. 19. That Sir all the loans has been accepted initially in FY 14-15 & FY 15- 16 has been repaid in FY 19-20. The interest payment has been paid yearly after deducting

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - AGARTALA , AGARTALA vs. SHRI SUBHAJIT PAUL, AGARTALA

In the result, cross-objection nos

Bench: Shri A. T. Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.116/Gau/2018 ("नधा"रणवष" / Assessment Year:2014-15)

68,760 ….do…. 11 ….do... …do…. 11- 21,25,81,959 ….do…. 12 ….do... …do…. 12- 33,70,10,742 ….do…. 13 ….do... …do…. 13- 27,25,50,393 ….do…. 14 ….do... …do…. 14- 20,70,87,907 ….do…. 15 Subhajit Paul AZNPP5539K

LAXMI NARAYAN PACKAGING INDUSTRIES,GUWAHATI vs. THE INCOME TAX OFFICER, WARD - 2(1), GUWAHATI, GUWAHATI

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Sri Duvvuru Rl Reddy(Kz) & Sri Rakesh Mishra

120 (Cuttack)(TM) "Annexure - C” (at Pages 62 to 68). (b) Bansal Strips (P.) Ltd. Vs. A.C.I.T. (2006) 99 ITD 177 (Delhi) "Annexure - D" (at Pages 69 to 83). Further reliance was placed upon the decision of Hon'ble Madras High Court in the case of C.I.T. Vs. S. Khader Khan Son (2008) 300 ITR 157 (Madras) which was affirmed

INCOME TAX OFFICER, WARD-3(4), GUWAHATI vs. SINU SONTHALIA, GUWAHATI

In the result, the appeal of the revenue is partly allowed

120/-. Case selected for limited scrutiny followed by serving of notices u/s. 143(2) & 142(1) of the Act. During the course of assessment proceedings the ld.AO called for details of purchases and the confirmation of sundry creditors. The assessee neither filed any detail of purchases nor any confirmation was filed. The ld. AO, thereafter, issued notice

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, DIBRUGARH vs. OIL INDIA LTD., DIBRUGARH

Bench: Shri S.S.Godara & Dr. A.L. Saini

120 190 ITR 553 (All) at pages 555 (C) Regarding the assertions of the AO that the undertaking has been formed by transfer of assets, the AR submitted that the assessee has not transferred any plant or machinery which was formerly used by the assessee. In fact, in each Oil Well, only new plant or machinery has been used

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, DIBRUGARH vs. OIL INDIA LTD., DIBRUGARH

Bench: Shri S.S.Godara & Dr. A.L. Saini

120 190 ITR 553 (All) at pages 555 (C) Regarding the assertions of the AO that the undertaking has been formed by transfer of assets, the AR submitted that the assessee has not transferred any plant or machinery which was formerly used by the assessee. In fact, in each Oil Well, only new plant or machinery has been used

OIL INDIA LTD.,,DIBRUGARH vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2,, DIBRUGARH.

Bench: Shri S.S.Godara & Dr. A.L. Saini

120 190 ITR 553 (All) at pages 555 (C) Regarding the assertions of the AO that the undertaking has been formed by transfer of assets, the AR submitted that the assessee has not transferred any plant or machinery which was formerly used by the assessee. In fact, in each Oil Well, only new plant or machinery has been used