ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE KATNI, KATNI vs. J.P TOBACCO PRODUCTS PVT. LTD, DAMOH

In the result, both appeals of the Revenue are dismissed

Bench: Shri Om Prakash Kantshri Pavan Kumar Gadale

capital borrowed for the purposes of the business or profession" has to be allowed as a deduction in computing the income tax under Section 28 of the Act. In Madhav Prasad Jantia vs. Commissioner of Income Tax UP AIR 1979 SC 1291, this Court held that the expression "for the purpose of business" occurring under the provision is wider

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-KATNI, KATNI vs. J.P. TOBACCO PRODUCTS PVT. LTD, DAMOH

In the result, both appeals of the Revenue are dismissed

Bench: Shri Om Prakash Kantshri Pavan Kumar Gadale

capital borrowed for the purposes of the business or profession" has to be allowed as a deduction in computing the income tax under Section 28 of the Act. In Madhav Prasad Jantia vs. Commissioner of Income Tax UP AIR 1979 SC 1291, this Court held that the expression "for the purpose of business" occurring under the provision is wider

J.P TOBACO PRODUCTA PVT. LTD.,DAMOH vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE - SAGAR, SAGASR

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

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar U.S.

capital borrowed for the purposes of the business or profession" has to be allowed as a deduction in computing the income tax under Section 28 of the Act. In Madhav Prasad Jantia vs. Commissioner of Income Tax UP AIR 1979 SC 1291, this Court held that the expression "for the purpose of business" occurring under the provision is wider

J.P TOBACCO PRODUCT PVT. LTD. vs. DEPUTY COMMISSIONER OF INCOME TAX,,

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

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar U.S.

capital borrowed for the purposes of the business or profession" has to be allowed as a deduction in computing the income tax under Section 28 of the Act. In Madhav Prasad Jantia vs. Commissioner of Income Tax UP AIR 1979 SC 1291, this Court held that the expression "for the purpose of business" occurring under the provision is wider

J.P TOBACCO PRODUCT PVT. LTD.,DAMOH vs. INCOME TAX OFFICER WARD-3, SAGAR

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

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar U.S.

capital borrowed for the purposes of the business or profession" has to be allowed as a deduction in computing the income tax under Section 28 of the Act. In Madhav Prasad Jantia vs. Commissioner of Income Tax UP AIR 1979 SC 1291, this Court held that the expression "for the purpose of business" occurring under the provision is wider

SHRI. NARSINGH RANGA,JABALPUR vs. DCIT, CIRCLE 2(1), JABALPUR

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Shri Kul Bharat & Shri, Nikhil Choudharyassessment Year: 2016-17 Shri Narsingh Ranga Dcit, Circle-2(1) V. Sharda Chowk, Nagpur Road, Aaykar Bhawan, Napier Jabalpur, Madhya Pradesh- Town, Jabalpur, Madhya 482001. Pradesh-482001. Pan:Acmpr1917P (Appellant) (Respondent) Appellant By: Shri Sanjay Seth, Ca Respondent By: Shri Alok Bhura, Sr. Cit(Dr) Date Of Hearing: 21 05 2025 Date Of Pronouncement: 11 06 2025 O R D E R

capital gain scheme or not. That as per the provisions of section 54 of the act only says that the assessee should construct the house that does not mean that the construction of house should necessarily be completed within stipulated time is view was been taken by Hon’ble Madhya Pradesh High Court in the case of Smt. Shashi Varma

SHRI BHAGCHAND JAIN,JABALPUR vs. DEPUTY COMMISSIONER OF INCOME TAX,, JABALPUR

Bench: Shri Sanjay Arora, Hon’Ble & Shri Manomohan Das, Hon'Ble

36, as under:- 1. The learned CIT (Appeals) has not appreciated that order has been passed by DCIT, Circle-1(1) by violating rule of natural justice. 1 | P a g e Bhag Chand Jain v. Dy. CIT 2. The learned Commissioner of Income Tax (Appeals) failed to appreciate that benefit of section 54C cannot given in parts

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE, SATNA, SATNA vs. SHRI PAWAN AGRAWAL, SATNA

In the result, both the appeals by Revenue are dismissed

Bench: Sh. Kul Bharat & Sh. Nikhil Choudharya.Y. 2015-16 Assistant Commissioner Of Income Vs. Shri Pawan Agarwal, Naya Tax, Circle- Satna Talab Road, Satna Pan:Acjpa5377R (Appellant) (Respondent) & A.Y. 2015-16 Assistant Commissioner Of Income Vs. Shri Pankaj Agarwal, Naya Tax, Circle- Satna Talab Road, Satna Pan:Afhpa9553J (Appellant) (Respondent) Assessee By: Sh. Sanjay Nema Adv & Sh. Ashish Goyal, Adv Revenue By: Sh. N.M. Prasad, Sr. Dr Date Of Hearing: 15.09.2025 Date Of Pronouncement: 16.09.2025 O R D E R Per Nikhil Choudhary, A.M. The Above Captioned Appeals By Revenue Are Taken Up Together For The Sake Of Convenience & Brevity & These Appeals Are Hereby Disposed Off Through This Consolidated Order; Because, In These Appeals The Tax Effect Is Less Than The Monetary Limit Fixed By The Central Board Of Direct Taxes (“Cbdt”, For Short) In Its Circular No. 09/2024 Dated 17.09.2024. Grounds Taken In These Appeals Of Revenue Are As Under: A.Y 2015-16 Sh. Pawan Agarwal Sh. Pankaj Agarwal

section 22 of the IT Act, duly enjoying the benefit of deduction provided U/s. 24 of the Act. 2. On the facts and in the circumstances of the case, the Ld. CIT(A) erred in directing allowance of deduction of Rs. 1,88,57,399/- under sec. 54F of the IT Act against gains arising from sale of capital asset

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE, SATNA, SATNA vs. SHRI PANKAJ AGRAWAL, SATNA

In the result, both the appeals by Revenue are dismissed

section 22 of the IT Act, duly enjoying the benefit of deduction provided\nU/s. 24 of the Act.\n2. On the facts and in the circumstances of the case, the Ld. CIT (A) erred in\ndirecting allowance of deduction of Rs. 1,88,57,399/- under sec. 54F of the\nIT Act against gains arising from sale of capital asset

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -2(1), JABALPUR vs. M/S. MAHAKAUSHAL SUGAR & POWER INDUSTRIES LTD., NARSINGHPUR

In the result, the Revenue’s appeal is partly allowed for statistical purposes

Bench: Shri Sanjay Arora, Hon’Ble & Shri Manomohan Das, Hon'Ble

36 ITR 350 (SC)), no case for which, again, stands made out by the Revenue; it failing even to respond to the opportunity to do so by us. 4. The second Ground of the Revenue’s appeal is in respect of the maintainability in law and in the facts and circumstance of the case, of deduction claimed

ASSISTANT COMMISSIONER OF INCOME TAX, CHHINDWARA vs. M/S. CENTRAL MADHYA PRADESH GRAMIN BANK, CHHINDWARA

In the result, the Revenue’s appeal is dismissed

gains of business or profession. In sections 28 to 41 and in this section, unless the context otherwise requires- (1) “actual cost” means the actual cost of the assets to the assessee, reduced by that portion of the cost thereof, if any, as has been met directly or indirectly by any other person or authority: Provided…. Provided further… Explanation

GAURAV SINGH,SATNA vs. ITO-WARD SATNA, SATNA

In the result, the appeal is allowed

Bench: Shri Om Prakash Kant& Shri Pavan Kumar Gadalegaurav Singh, Ito, C/0,Rajiv Narayan Singh, Aayakar Bhawan, Parijat Niwas, Civil Lines, Satna-485001. Satna-485001. Madhya Pradesh, Madhya Pradesh, Appellant Respondent Pan: Bbdps8879Q

capital gains, income from other sources and also receives salary from foreign country Maynmar. The assessee has filed the return of income ITR 2 for the A.Y. 2021-22 on 6-11-2021 disclosing a total income of Rs,57,36,000/-.Whereas, the assessee has included the foreign salary income of Rs.13,99,110/- in the total income disclosed

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 2(1), JABALPUR vs. MADHYA PRADESH POWER GENERATING CO. LTD., JABALPUR

In the result, the Revenue's appeal is dismissed as not maintainable

Bench: Shri Sanjay Arora, Hon’Ble & Shri Manomohan Das, Hon'Ble

36(1)(iii) for AY 2001-02, which was found as 9 liable to be disallowed u/s. 14A, inserted only by Finance Act, 2001. The borrowed capital had been invested by the assessee in shares, stated to be purchased as a matter of business policy as an investment company, which had not yielded any dividend income for the relevant year