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

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

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

9, Palm Residency, CIDCO\ncolony, Butibori Nagpur for consideration of Rs 3,30,00,000/- on 20/02/2016\nthrough assignment deed.\niii.\nFurther on verification it is seen that even the Purchaser deducted tax\nand filed TDS return in form 26 QB showing TDS of Rs 3,30,000/- on account\nof purchase of property from Aakar hotels. Thus Assessee gained

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

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

9,20,513, under section 36(1)(iii) of the Act, while dealing with the issue, vide Para–7.0 to 7.4 / Page–11 to 13, held that interest amount attributable to the interest free advances shall be allowed to the assessee. The findings of the learned CIT(A) are as under:– “7.0 Ground No. 2: The appellant has challenged

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

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -1(2), NAGPUR vs. VIDARBHA INFOTECH PRIVATE LIMITED, NAGPUR

In the result, appeal by the Revenue is dismissed

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

139(1) of I T Act on 17/10/2016 declaring income of Rs.4,60,44,360/–. Case was selected for scrutiny and various notices were issued which were duly replied by the assessee. Assessment order under section 143(3) was passed on 25/12/2018 wherein AO made following additions and computed the total income at Rs.4,81,11,724/-. Belated payment

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) of the Act thereby dismissing assessee’s appeal directing the Assessing Officer to verify the claim of TDS credit of ` 14,93,947, on the salary income offered by the assessee amounting to ` 31,73,253, which was duly reflected in Form no.26AS. The assessee being aggrieved, by the order so passed by the learned

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

DCIT-CC-1(3), NAGPUR, NAGPUR vs. R.B.S.D. AND F.N. DAS(EXPORT FIRM), VIZIANAGRAM

In the result, appeal filed by the Revenue is dismissed

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

139(1) of the Act on 13/02/2022, declaring total income of ` 18,01,81,210. The case was selected for complete scrutiny under CASS, with the reason of “Income from other sources”. Notice under section 143(2) of the Act was issued to the assessee on 29/06/2021, and duly served. Notice under section 142(1) of the Act was also

INCOME TAX OFFICER WARD-2, KHAMGAON, KHAMGAON vs. RENUKA OIL INDUSTRIES, KHAMGAON

In the result, Revenue’s appeal stands dismissed

Bench: Shri V. Durga Rao

TDS has also been deducted by the appellant. The only cash payments of Rs.13,200/- on 18.04.2012 and 11,025/-on 05.06.2012 made by the appellant w.r.t payments made to contractors are also much below the threshold of Rs. 20,000/- for any violation u/s 40A(3) of the Act. (vi) The appellant in its submissions has admitted that most

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

9)(1), Hyderabad in CA No. 10245 of 2017 and also in spite of the fact that entire receipts of society would not be entitled for deduction u/s. 80P(2) of the I.T. Act, 1961. 2 The Nirmal Ujwal Credit Co–operative Society Ltd. A.Y.2014–15 2. Whether on the facts and in the circumstances of the case