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

2)(a)(i) provides 100% deduction on the profit and gains of business attributable to the business of providing banking and credit facilities to the members of society. Therefore, even if certain expenses are disallowed, it will result in increase in gross taxable income and deduction under section 80P, would be allowable on 100% of such gross taxable income

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

section 148 of the Act, assessee filed NIL return of income\nfor the year under consideration i.e. A. Y. 2016-17. Assessing Officer concluded the assessment\nvide assessment order dated 24.08.2021 and assessed total income at Rs.2,67,14,897/- by making\naddition of Rs.2,67,14,897/- on account of Long Term Capital Gain (In short “LTCG”) arising\nout

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

DR AMBEDKAR INSTITUTE OF SOCIAL WORK,NAGPUR MAHARASHTRA vs. ITO WARD-1, NAGPUR

In the result, appeals filed by the assessees are allowed

TDS statement which\nwas processed on 10/04/2022, wherein demand was raised for late fees\nunder section 234E for ₹ 16,400, and interest thereon under section 220(2) of\n19,593.\n4. The learned CIT(A) confirmed the assessment order so passed by the\nAssessing Officer.\n5.\nWe have given a thoughtful consideration to the arguments made by\nthe rival parties

BANK OF INDIA ,PRASHEONI BRANCH vs. ACIT,CPC,TDS, GHAZIABAD

In the result, all the appeals filed by the assessee are allowed

Bench: Shri Vikram Singh Yadav & Shri Yogesh Kumar U.S

section 200A, which is effective from 01.06.2015. In this regard, our reference was drawn to the following table containing the requisite particulars in respect of the TDS statements filed by the respective branches of the assessee wherein the late fee u/s 234E has been levied while processing the TDS statements by the ACIT TDS-CPC and which has been confirmed

BANK OF INDIA,SIHORA BRANCH vs. ACIT,CPC(TDS), GHAZIABAD

In the result, all the appeals filed by the assessee are allowed

Bench: Shri Vikram Singh Yadav & Shri Yogesh Kumar U.S

section 200A, which is effective from 01.06.2015. In this regard, our reference was drawn to the following table containing the requisite particulars in respect of the TDS statements filed by the respective branches of the assessee wherein the late fee u/s 234E has been levied while processing the TDS statements by the ACIT TDS-CPC and which has been confirmed

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

SANJAY GANDHI SMRUTI VIDYA MANDIR ,HINGANGHAT, WARDHA vs. ITO TDS WD 52(1), NAGPUR

In the result, assessee’s appeal is allowed

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

14. 2. In its appeal, the assessee has raised following grounds:– “1. Whether on the facts and circumstances of the case, learned Commissioner of Income Tax - (Appeals) was justified in affirming the late filing levy of tax on the appellant by the DCIT, CPC-TDS. 2. The appellant craves leave to add or alter any other ground that

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) of the Act vide intimation under section 200A of the Act. 5. On appeal, the learned CIT(A), while discussing the issue in detail, vide Para–4.3/Page–2

HASANTE BURHANIAH FIDAYYIAH TRUST,NAGPUR vs. INCOME TAX OFFICER (TDS) WARD-1, NAGPUR

In the result, assessee’s appeals for A

Bench: Shri Sandeep Gosain & Shri Arun Khodpia

14 5.0 The above submissions of the appellant have been duly considered. The decision on the appeal is as follows. Firstly, it has to be pinpointed that the appellant wrongly understood that the order passed by the AO was under section 200A and to that extent wrongly stated order appealed against as order under section 200A in Form

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

2,81,33,000/- is not required to be reduced. Issue: Disallowance u/s 40(a)(ia) of the Act for non-deduction of TDS 3.4 The assessee submits that, it had deducted TDS at the rate of one percent amounting to Rs. 12,52,000/- on sale consideration of Rs. 12,52,00,000/-. The assessee has duly paid

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

2,81,33,000/- is not required to be reduced. Issue: Disallowance u/s 40(a)(ia) of the Act for non-deduction of TDS 3.4 The assessee submits that, it had deducted TDS at the rate of one percent amounting to Rs. 12,52,000/- on sale consideration of Rs. 12,52,00,000/-. The assessee has duly paid

SUNILKUMAR RAJENDRA RAI,NAGPUR vs. ITO, WARD-1(4), NAGPUR

In the result, appeals filed by the assessees are allowed

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

section 250 of the Income Tax Act, 1961 ("the Act") by the learned Commissioner of Income Tax (Appeals), [“learned CIT”], for the assessment year 2013-14. Sunilkumar Rajendra Rai vs TDS Ward, Nagpur ITA no.286/Nag./2023 The assessee has raised following grounds of appeal:– 2. “ Grounds of Appeal Tax Effect 1. The learned CIT(A) erred in condoning the delay

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) of the Act vide intimation under section 200A of the Act. 5. On appeal, the learned CIT(A), while discussing the issue in detail, vide Para–4.3/Page–2

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