ASSISTANT COMMISSIONER OF INCOME TAX AKOLA CIRCLE , AKOLA vs. AKOLA URBAN CO-OPRATIVE BANK LTD , AKOLA

In the result, appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

carry forward of business loss along with unabsorbed depreciation for current year as well as preceding year. The assessee filed its revised return on 01/10/2015, claiming TDS

ASSTT.COMMISSIONER OF INCOME TAX CIRCLE-5, NAGPUR vs. THE NIRMAL UJWAL CREDIT CO-OP SOCIETY LTD, NAGPUR

In the result, appeal filed by the Revenue for the assessment year

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

forward loss of the preceding assessment year i.e., A.Y. 2010-11. The Assessing Officer while completing the assessment vide order dated 27/03/2015, made two additions which were added to the total income of the assessee. The first addition of ` 1,24,04,174, pertains to interest income earned by the assessee Society from deposits (FDR) with Nationalized Banks. The Assessing

ASSTT. CIT, CIR- 7, NAGPUR vs. M/S. NEWQUEST CORPORATION LTD., CHANDRAPUR

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year: 2008-2009 The Acit Vs. M/S.Newquest Corporation Ltd. Circle-7, (Now Known As M/S. Avantha Nagpur Holding Ltd. Ballalrpur Paper Mills P.O. Ballarpur, Distt. Chandrapur Pan No.:Aabcb 6134 E Appellant Respondent

forward. The ld. AR of the assessee thus submitted that the company is a juristic person and has lost entire investment of Rs.9.26 crores. The ld. AR of the assessee relied on the decision of ITAT Nagpur Bench decision in the case of Alok Ferro Alloys Pvt. Ltd. (ITA No. 30/Nag/1998 order dated 24-02-2006) and further submitted that

SMT. ANJU SARAF,,NAGPUR vs. A,C.I.T CENT CIR. 2(2), NAGPUR

In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed

Bench: Shrisandeepgosain & Shriarunkhodpia

losses etc. in the return of Income filed u/s 153A of the act:- PCIT V JSW Steel Ltd. [2020] 115 taxmann.com 165 (Bombay) ACIT V Splendor Landbase Limited ( ITA No. 2461/Del/2016) CIT V. B G Shirke Construction Technology ( P) Ltd. (2017) 246 Taxman 300 ( Bombay) ACIT V. V N Deva Doss (2013) 32 Taxmann.com 133 Naresh T Wadhwani V DCIT

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. SMT. ANJU SARAF, NAGPUR

In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed

Bench: Shrisandeepgosain & Shriarunkhodpia

losses etc. in the return of Income filed u/s 153A of the act:- PCIT V JSW Steel Ltd. [2020] 115 taxmann.com 165 (Bombay) ACIT V Splendor Landbase Limited ( ITA No. 2461/Del/2016) CIT V. B G Shirke Construction Technology ( P) Ltd. (2017) 246 Taxman 300 ( Bombay) ACIT V. V N Deva Doss (2013) 32 Taxmann.com 133 Naresh T Wadhwani V DCIT

SMT. ANJU SARAF,,NAGPUR vs. A,C.I.T CENT CIR. 2(2), NAGPUR

In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed

Bench: Shrisandeepgosain & Shriarunkhodpia

losses etc. in the return of Income filed u/s 153A of the act:- PCIT V JSW Steel Ltd. [2020] 115 taxmann.com 165 (Bombay) ACIT V Splendor Landbase Limited ( ITA No. 2461/Del/2016) CIT V. B G Shirke Construction Technology ( P) Ltd. (2017) 246 Taxman 300 ( Bombay) ACIT V. V N Deva Doss (2013) 32 Taxmann.com 133 Naresh T Wadhwani V DCIT

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. SMT. ANJU SARAF, NAGPUR

In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed

Bench: Shrisandeepgosain & Shriarunkhodpia

losses etc. in the return of Income filed u/s 153A of the act:- PCIT V JSW Steel Ltd. [2020] 115 taxmann.com 165 (Bombay) ACIT V Splendor Landbase Limited ( ITA No. 2461/Del/2016) CIT V. B G Shirke Construction Technology ( P) Ltd. (2017) 246 Taxman 300 ( Bombay) ACIT V. V N Deva Doss (2013) 32 Taxmann.com 133 Naresh T Wadhwani V DCIT

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. SMT. ANJU A. SARAF, NAGPUR

In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed

Bench: Shrisandeepgosain & Shriarunkhodpia

losses etc. in the return of Income filed u/s 153A of the act:- PCIT V JSW Steel Ltd. [2020] 115 taxmann.com 165 (Bombay) ACIT V Splendor Landbase Limited ( ITA No. 2461/Del/2016) CIT V. B G Shirke Construction Technology ( P) Ltd. (2017) 246 Taxman 300 ( Bombay) ACIT V. V N Deva Doss (2013) 32 Taxmann.com 133 Naresh T Wadhwani V DCIT

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. SMT. ANJU A. SARAF, NAGPUR

In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed

Bench: Shrisandeepgosain & Shriarunkhodpia

losses etc. in the return of Income filed u/s 153A of the act:- PCIT V JSW Steel Ltd. [2020] 115 taxmann.com 165 (Bombay) ACIT V Splendor Landbase Limited ( ITA No. 2461/Del/2016) CIT V. B G Shirke Construction Technology ( P) Ltd. (2017) 246 Taxman 300 ( Bombay) ACIT V. V N Deva Doss (2013) 32 Taxmann.com 133 Naresh T Wadhwani V DCIT

ITO WARD-1(1) NAGPUR, NAGPUR vs. ASHWAMI SALES AND MARKETING PVT.LTD, NAGPUR

In the result, appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

loss of ` 1,98,082. The return of income was processed under section 143(1) of the Act and subsequently, the case was selected for scrutiny through CASS and the Assessing Officer, while completing the assessment, disallowance under section 40(a)(ia) of the Act to the tune of ` 6,37,77,092, was made. Aggrieved by the order passed

INDOWORTH INDIA LIMITED,NAGPUR vs. ACIT(TDS), CIRCLE 51(1), NAGPUR

In the result, appeal filed by the assessee for A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

carry forward the buyback income. He submitted that the contingent provisions for expenses are not liable for TDS. As per the IT return and computation from F.Y. 2014-15 to F.Y. 2018-19 disallowed the interest as contingent expenditure of ` 55,89,527, but due to some clerical mistakes, the assessee had not disallowed the interest provision

M/S INDOWORTH INDIA LIMITED,NAGPUR vs. ACIT(TDS), CIRCLE 51(1) , NAGPUR

In the result, appeal filed by the assessee for A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

carry forward the buyback income. He submitted that the contingent provisions for expenses are not liable for TDS. As per the IT return and computation from F.Y. 2014-15 to F.Y. 2018-19 disallowed the interest as contingent expenditure of ` 55,89,527, but due to some clerical mistakes, the assessee had not disallowed the interest provision

SANJAY KISAN CHOPDE,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, NAGPUR

In the result, appeal of the assessee is allowed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.176/Nag/2022 िनधा"रण वष" / Assessment Year : 2014-15 Sanjay Kisan Chopde, The Deputy Balaji Associates, Gs 37, Vs Commissioner Of Amar Jyoti Palace, Lomat Income Tax, Circle-1, Square, Wardha Road, Nagpur. Nagpur – 440012. Pan: Abapc6968N Appellant/ Assessee Respondent/Revenue Assessee By Shri Abhay Agrawal – Advocate Revenue By Shri Abhay Y. Marathe – Sr.Dr Date Of Hearing 25/01/2024 Date Of Pronouncement 30/01/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeals)[Nfac], Dated 30.3.2022 Emanating From Assessment Order Under Section 143(3) Dated 30.06.2016 For A.Y.2014-15. The Grounds Of Appeal Raised By The Assessee Are As Under : Sanjay Kisan Chopde [A]

loss account. Further the assessee submitted that it has not claimed the credit of TDS of Rs.20,000/- also. However from the TDS statement it is clear that the assessee has already claimed TDS credit of Rs.20,000/- without showing the corresponding receipts. Further 3 Sanjay Kisan Chopde [A] the assessee is taking plea that TDS is wrongly posted under

M/S. SHI vs. HAKTI VEHICLE AGENCY PVT. LTD,NAGPURVS.ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4, NAGPUR

In the result, the appeal of the assessee stands partly allowed

Bench: Hon’Ble Shri S. S. Godara & Shri G. D. Padmahshaliआयकर अपऩल सं. / Ita No. 030/Nag/2023 निर्धारण वषा / Assessment Year : 2014-15 M/S Shivshakti Vehicle Agency Pvt Ltd. 101, Shivam Towers, Opp. Vikas Eng. Corp., Wardhaman Nagar, Nagpur-440008 Pan: Aahcs4685D . . . . . . . अपीलार्थी / Appellant

TDS etc. 2.2 Aggrieved assessee carried the matter in appeal before first appellate authority u/s 246A(1)(a) of the Act, wherein Ld. NFAC allowed the assessee’s appeal partly, however confirmed the first two disallowance on equi-reasons. 2.3 Further aggrieved assessee came in present appeal with two substantive grounds as laid in appeal memo; ‘1) On the facts

VIVEKANAND NAGRI SAHAKARI PAT SANSTHA MARYADIT,PULGAON vs. INCOME TAX OFFICER, WARD-2, WARDHA

In the result, appeal filed by the assessee for A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

carried the matter before the first appellate authority. 5. The learned CIT(A) confirmed the addition of ` 5,84,367, made by the Assessing Officer holding that from the judgment in the case of Pinarayi Service Co–operative Bank Ltd., it can be inferred that where the assessee was not fulfilling its primary objective of providing credit facilities

VIVEKANAND NAGRI SAHAKARI PAT SANSTHA MARYADIT,PULGAON vs. INCOME TAX OFFICER, WARD-2, WARDHA

In the result, appeal filed by the assessee for A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

carried the matter before the first appellate authority. 5. The learned CIT(A) confirmed the addition of ` 5,84,367, made by the Assessing Officer holding that from the judgment in the case of Pinarayi Service Co–operative Bank Ltd., it can be inferred that where the assessee was not fulfilling its primary objective of providing credit facilities

VIVEKANAND NAGRI SAHAKARI PAT SANSTHA MARYADIT,PULGAON vs. INCOME TAX OFFICER, WARD-2, WARDHA

In the result, appeal filed by the assessee for A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

carried the matter before the first appellate authority. 5. The learned CIT(A) confirmed the addition of ` 5,84,367, made by the Assessing Officer holding that from the judgment in the case of Pinarayi Service Co–operative Bank Ltd., it can be inferred that where the assessee was not fulfilling its primary objective of providing credit facilities

INCOME TAX OFFICERS WARD -1 , AKOLA vs. M/S BALKRISHANA TRADERS , AKOLA

In the result, all the appeals of Revenue are dismissed

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

loss account and credited to the account of the members of the assessee. For non-deduction of TDS on such payment to members, the AO added an amount of Rs.3,27,97,030/- to the total income of the assessee for non-deduction of tax u/s. 194C of the Act. We note that during the course of assessment proceedings

INCOME TAX OFFICER WARD -1, AKOLA vs. M/S BALKRISHANA TRADERS , NAGPUR

In the result, all the appeals of Revenue are dismissed

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

loss account and credited to the account of the members of the assessee. For non-deduction of TDS on such payment to members, the AO added an amount of Rs.3,27,97,030/- to the total income of the assessee for non-deduction of tax u/s. 194C of the Act. We note that during the course of assessment proceedings