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

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

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

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

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

139". Section 194C/3): No deduction shall be made under sub-section (1) or sub- section(2) from – (i) the amount of any sum credited or paid or likely to be credited or paid to the account of or to the contractor or sub-contractor, if such sum does not exceed twenty thousand rupees: Provided that where the aggregate

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

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

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

139 of the Act. 12. The learned A.R. further submitted that the Assessing Officer has made addition of ` 12 lakh, on account of unsecured loan treating it as unexplained credits under section 68 of the Act when, on the date of search (i.e., 11/07/2019), the assessment year 2014–15 had already been unabated / completed, since scrutiny assessment under section

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

139 of the Act. 12. The learned A.R. further submitted that the Assessing Officer has made addition of ` 12 lakh, on account of unsecured loan treating it as unexplained credits under section 68 of the Act when, on the date of search (i.e., 11/07/2019), the assessment year 2014–15 had already been unabated / completed, since scrutiny assessment under section

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

139 of the Act. 12. The learned A.R. further submitted that the Assessing Officer has made addition of ` 12 lakh, on account of unsecured loan treating it as unexplained credits under section 68 of the Act when, on the date of search (i.e., 11/07/2019), the assessment year 2014–15 had already been unabated / completed, since scrutiny assessment under section

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

139 of the Act. 12. The learned A.R. further submitted that the Assessing Officer has made addition of ` 12 lakh, on account of unsecured loan treating it as unexplained credits under section 68 of the Act when, on the date of search (i.e., 11/07/2019), the assessment year 2014–15 had already been unabated / completed, since scrutiny assessment under section

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

139 of the Act. 12. The learned A.R. further submitted that the Assessing Officer has made addition of ` 12 lakh, on account of unsecured loan treating it as unexplained credits under section 68 of the Act when, on the date of search (i.e., 11/07/2019), the assessment year 2014–15 had already been unabated / completed, since scrutiny assessment under section

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

139 of the Act. 12. The learned A.R. further submitted that the Assessing Officer has made addition of ` 12 lakh, on account of unsecured loan treating it as unexplained credits under section 68 of the Act when, on the date of search (i.e., 11/07/2019), the assessment year 2014–15 had already been unabated / completed, since scrutiny assessment under section

M/S TAWARI TRADERS ,BULDHANA vs. INCOME TAX OFFICER WARD -2, KHAMGAON

In the result, appeal by the assessee stands dismissed

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

139, such sum shall be allowed as a deduction in computing the income of the previous year in which such tax has been paid.] The following second proviso shall be inserted in sub-clause (ia) of clause (a) of section 40 by the Finance Act, 2012, w.e.f. 1-4-2013: Provided further that where an assessee fails to deduct

RAGHAV AGRITECH,NAGPUR vs. ITO WARD 3(4), NAGPUR

In the result, appeal filed by the assessee is allowed

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

TDS on payment of ` 2,06,50,000, to contractor for building construction has not been deducted and hence 30% of sum paid is disallowable under section 40(a)(ia) though the assessee had disallowed ` 3,09,750, being 30% of depreciation claimed by it. The assessee being aggrieved filed appeal before the first appellate authority. 5. The learned

ASSISTANT COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(1), NAGPUR vs. M/S GUPTA METALLICS & POWER LIMITED , NAGPUR

In the result, appeals of the Revenue in ITA Nos

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

TDS was not deducted u/s.40(a)(ia) of the Act, assessment was held to be erroneous and prejudicial to the interest of the revenue. That consequence to this, order passed u/s.263 of the Act, the Assessing Officer passed assessment order u/s.143(3) r.w.s.263 on 12.03.2015 and made disallowance for the said sum of Rs.66,64,466/- by rejecting the contention

ASSISTANT COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE -2(1), NAGPUR vs. SHRI MAHESH GUPTA , NAGPUR

In the result, appeals of the Revenue in ITA Nos

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

TDS was not deducted u/s.40(a)(ia) of the Act, assessment was held to be erroneous and prejudicial to the interest of the revenue. That consequence to this, order passed u/s.263 of the Act, the Assessing Officer passed assessment order u/s.143(3) r.w.s.263 on 12.03.2015 and made disallowance for the said sum of Rs.66,64,466/- by rejecting the contention

ASSISTATN COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -2(1), NAGPUR vs. SHRI MAHESH GUPTA , NAGPUR

In the result, appeals of the Revenue in ITA Nos

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

TDS was not deducted u/s.40(a)(ia) of the Act, assessment was held to be erroneous and prejudicial to the interest of the revenue. That consequence to this, order passed u/s.263 of the Act, the Assessing Officer passed assessment order u/s.143(3) r.w.s.263 on 12.03.2015 and made disallowance for the said sum of Rs.66,64,466/- by rejecting the contention

SHRI DEEPAK SURESH GADGE,,NAGPUR vs. JOINT. CIT, CIR.- I, NAGPUR

In the result, appeal filed by the assessee for assessment year 2010-2011

Bench: Shri Shamim Yahya (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2010-11 Shri Deepak Suresh Gadge, The Joint Commissioner Of Pranav Apartments, Iind Lane, Income Tax- Circle-I, Behind The Hitvada, Dhantoli, Dr. Babasaheb Ambedkar Nagpur Vs. Bhavan, Fifth Floor, Mecl Building, Seminary Hills, Pan : Abzpg6643H Nagpur- 440006

section 40(a)(ia), introduced by the Finance Act 2013 w.e.f. 01.04.2013, read with s. 201, provides that despite failure to deduct TDS, disallowance of the expenditure shall not be made if the resident payee has (i) furnished his return of income u/s 139

YOGESH NANDALAL CHANDE,CHANDRAPUR vs. ITO WARD-1, CHANDRAPUR

In the result, appeal filed by the assessee is allowed

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

section 139(1). 3 Yogesh Nandlal Chande ITA no.402/Nag./2024 The assessee being unsuccessful before the Assessing Officer, filed appeal before the first appellate authority. 4. Meanwhile, the assessee’s claim of full TDS

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. M/S SHREE AGRAWAL FINANCE INDIA P. LTD.,, NAGPUR

In the result, Revenue’s appeal is dismissed

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

139(1) of the Act declaring total income at ` 8,59,750. Pursuant to search and seizure operation under section 132, notice under section 153A of the Act was issued on 24/09/2012. In the high pitched assessment under section 143(3) r/w section 153A of the Act the Assessing Officer made various additions by examining the Profit & Loss Account