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

In the result, appeal for the A

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

11 The Nirmal Ujwal Credit Co–operative Society Ltd. A.Y.2014–15 Considering plethora of judgments on said issue, we humbly request your kindness to kindly revoke impugned disallowances. 23. The provision of section 80P(2)(a) read as under “1) Where, in the case of an assessee being a co-operative society, the gross total income includes any income referred

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), NAGPUR vs. M/S. AAKAR HOTELS, NAGPUR

In the result, appeal of the revenue is dismissed

TDS of Rs. 3,30,000/- on account of purchase of property from M/s\nAakar Hotels. Further the said deed was also duly registered on 29.03.2016\nand stamp duty of Rs. 18,15,000/-along with registration fees of Rs 30,000/-\nwas paid to the government on account of transfer of property.\nV.\nThe property was taken on lease

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

TDS, details of Bank Accounts and details of various other expenses, etc. The appellant through his AR explained the case from time to time. From the documents submitted and 4 The Nirmal Ujwal Credit Co–operative Society Ltd. A.Y. 2012–13 explanations provided by the appellant, the AO notices that the appellant had earned interest income from Fixed Deposits with

HINGANGHAT NAGRI SAHAKARI PAT SANSTHA,HINGANGHAT vs. INCOME TAX OFFICER WARD-1, WARDHA

In the result, appeal by the assessee for A

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

TDS is deducted. It is seen that the assessee has not filed his return of income for AY 2015-16. The above transactions, total to amount Rs.1,32,51,842/- remain unexplained and there is escapement of income in absence of return of income filed. Thus income from above transaction has not been offered

HINGANGHAT NAGRI SAHAKARI PAT SANSTHA,HINGANGHAT vs. INCOME TAX OFFICER WARD-1, WARDHA

In the result, appeal by the assessee for A

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

TDS is deducted. It is seen that the assessee has not filed his return of income for AY 2015-16. The above transactions, total to amount Rs.1,32,51,842/- remain unexplained and there is escapement of income in absence of return of income filed. Thus income from above transaction has not been offered

HINGANGHAT NAGRI SAHAKARI PAT SANSTHA,HINGANGHAT vs. INCOME TAX WARD-1, WARDHA

In the result, appeal by the assessee for A

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

TDS is deducted. It is seen that the assessee has not filed his return of income for AY 2015-16. The above transactions, total to amount Rs.1,32,51,842/- remain unexplained and there is escapement of income in absence of return of income filed. Thus income from above transaction has not been offered

VIJAY VINOD DURAGKAR,NAGPUR vs. INCOME TAX OFFICER WARD 4(4), NAGPUR

In the result, appeal filed by the assessee is partly allowed

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

2 of s. 147 authorizes the Assessing officer to reopen an assessment wherever there is an "under statement of 11 Vijaya Vinod Duragkar income", the AO is not entitled to assume that there is "under statement of income" merely because the assessee's income is "shockingly low" and others in the same line of business are returning a higher income

M/S ATASHA ASHIRWAD BUILDERS,NAGPUR vs. A.C.I.T (TDS) RANGE 1, NAGPUR

In the result, the appeal of assessee is allowed

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

TDS returns. The delay in filing the returns in prescribed form for all four quarters was 6463 days in assessment year 2009-10 and in assessment year 2010- 11 for all four quarter was 4966 days and in assessment year 2011-12, the delay was 3474 days. In view of the factual aspects of the case, where the delay

ASHWIN SURESH CHANDAK,NAGPUR vs. ITO WARD, TDS 51(1), NAGPUR

In the result, appeals filed by the assessees are allowed

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

TDS return was processed by the Central Processing Centre, late filing fee under section 234E of the Act at ` 11,840, which include late payment and interest under section 220(2

DAMMANI INDUSTRIES,NAGPUR vs. ITO WARD, TDS 51(1), NAGPUR

In the result, appeals filed by the assessees are allowed

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

TDS return was processed by the Central Processing Centre, late filing fee under section 234E of the Act at ` 11,840, which include late payment and interest under section 220(2

RAVINDRA KHANDELWAL,AKOLA vs. ASSISTANT COMMISSIONER OF INCOME TAX - CIRCLE AKOLA , AKOLA

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

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

11,521/- and ` 50,71,596, made by the Assessing Officer on account of unexplained cash credits under section 69A of the Income Tax Act, 1961 ("the Act") 6. For the year under consideration, the Assessing Officer has made addition to the tune of ` 2,97,83,117, under section 69A of the Act and added 3 Ravindra Madanlal Khandelwal

LATITUDE INFRAVENTURES,NAGPUR vs. PCIT,NAGPUR-1, NAGPUR

In the result, appeal filed by the assessee for assessment year 2017–18

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

TDS of Rs.12,52,000 has been duly deposited with government and hence, disallowance under section 40a(ia) is not warranted. 8 Latitude Infraventures ITA no.349 & 350/Nag./2024 A.Y. 2016–17 & 2017–18 3.5 Therefore, the issues sought to be revised by the learned CIT does not result into any prejudice to the Revenue. Therefore, the twin condition of order

LATITUDE INFRAVENTURES,NAGPUR vs. PCIT,NAGPUR-1, NAGPUR

In the result, appeal filed by the assessee for assessment year 2017–18

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

TDS of Rs.12,52,000 has been duly deposited with government and hence, disallowance under section 40a(ia) is not warranted. 8 Latitude Infraventures ITA no.349 & 350/Nag./2024 A.Y. 2016–17 & 2017–18 3.5 Therefore, the issues sought to be revised by the learned CIT does not result into any prejudice to the Revenue. Therefore, the twin condition of order

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

TDS have been deducted which was confirmed by the Assessing Officer. For better appreciation of facts, Exception (v) of section 194A of the Act is reproduced below:– “(v) to such income credited or paid by a co-operative society (other than a co-operative bank) to a member thereof or to such income credited or paid by a co-operative

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

TDS have been deducted which was confirmed by the Assessing Officer. For better appreciation of facts, Exception (v) of section 194A of the Act is reproduced below:– “(v) to such income credited or paid by a co-operative society (other than a co-operative bank) to a member thereof or to such income credited or paid by a co-operative

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

TDS have been deducted which was confirmed by the Assessing Officer. For better appreciation of facts, Exception (v) of section 194A of the Act is reproduced below:– “(v) to such income credited or paid by a co-operative society (other than a co-operative bank) to a member thereof or to such income credited or paid by a co-operative

HINGANGHAT NAGRI SAHAKARI PAT SANSTHA,HINGANGHAT vs. INCOME TAX WARD-1, WARDHA

In the result, appeal by the assessee for A

TDS is deducted. It is seen that the assessee has not\nfiled his return of income for AY 2015-16. The above transactions, total to\namount Rs.1,32,51,842/- remain unexplained and there is escapement of\nincome in absence of return of income filed. Thus income from above\ntransaction has not been offered

M/S MAHESHWARI COAL BENEFICATION & INFRASTRUCTURE P LTD.,BILASPUR vs. ACIT CENTRAL CIRCLE 1(1), NAGPUR

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

2,68,490 5. The issue involved in ground no.3, 4, 5 and 6, in the assessment year 2014–15, relates to the addition made on account of unexplained cash credit 3 Maheshwari Coal Beneficatgion & Infrastructure Pvt. Ltd. A.Y. 2014–15 to 2020–21 under section 68 of the Act. The grounds no.3 to 6, are reproduced below

M/S MAHESHWARI COAL BENEFICATION & INFRASTRUCTURE P LTD.,BILASPUR vs. ACIT CENTRAL CIRCLE 1(1), NAGPUR

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

2,68,490 5. The issue involved in ground no.3, 4, 5 and 6, in the assessment year 2014–15, relates to the addition made on account of unexplained cash credit 3 Maheshwari Coal Beneficatgion & Infrastructure Pvt. Ltd. A.Y. 2014–15 to 2020–21 under section 68 of the Act. The grounds no.3 to 6, are reproduced below