GORAKSHAN SABHA, NAGPUR,WARDHA ROAD, NAGPUR vs. COMMISSIONER OF INCOME TAX (APPEALS) INCOME TAX DEPARTMENT, NATIONAL FACELESS APPEAL CENTRE (NFAC), MOF,GOI

In the result, appeal of the assessee is dismissed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.92 & 91/Nag/2023 िनधा"रण वष" / Assessment Years : 2014-15 & 2013-14 Gorakshan Sabha, The Income Tax Officer, Near Hitawada Press, V Ward Exemption, Nagpur. Wardha Road, Dhantoli, S Nagpur – 440012. Pan: Aaatg2927L Appellant/ Assessee Respondent/Revenue Assessee By None Revenue By Shri Abhay Y. Marathe - Sr.Dr Date Of Hearing 28/03/2024 Date Of Pronouncement 23/04/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: These Two Appeals Filed By The Assessee Against The Separate Orders Of Ld.Commissioner Of Income Tax(Appeals)[Nfac] Under Section 250 Of The Act, Emanating From The Common Intimation Of Outstanding Demand Order For A.Y.2014-15 & 2013-14 Respectively. Since Facts Of Both Appeals Are Similar, We Take Up Appeal For A.Y.2014-15 As

TDS, Ward-51(1), Nagpur. The said intimation is scanned and reproduced here as under : 2.3 Thus, it is seen that assessee has filed an appeal against the recovery of outstanding demand. The list of orders against ITA Nos.92 & 91/NAG/2023 (02 appeals) Gorakshan Sabha [A] which an appeal can be filed before the ld.CIT(A) mentioned in 246A is reproduced

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

TDS has been deducted on such interest expenses claimed; more so, the alleged sum had already been repaid on 4-10-18 prior to the search conducted on 11-7-19; the addition of Rs.7,59,397 is not justified, is liable to be deleted.” 29. The Assessing Officer has made following additions:– Opening bal. Interest credited Loan creditors

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

TDS has been deducted on such interest expenses claimed; more so, the alleged sum had already been repaid on 4-10-18 prior to the search conducted on 11-7-19; the addition of Rs.7,59,397 is not justified, is liable to be deleted.” 29. The Assessing Officer has made following additions:– Opening bal. Interest credited Loan creditors

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

TDS has been deducted on such interest expenses claimed; more so, the alleged sum had already been repaid on 4-10-18 prior to the search conducted on 11-7-19; the addition of Rs.7,59,397 is not justified, is liable to be deleted.” 29. The Assessing Officer has made following additions:– Opening bal. Interest credited Loan creditors

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

TDS has been deducted on such interest expenses claimed; more so, the alleged sum had already been repaid on 4-10-18 prior to the search conducted on 11-7-19; the addition of Rs.7,59,397 is not justified, is liable to be deleted.” 29. The Assessing Officer has made following additions:– Opening bal. Interest credited Loan creditors

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

TDS has been deducted on such interest expenses claimed; more so, the alleged sum had already been repaid on 4-10-18 prior to the search conducted on 11-7-19; the addition of Rs.7,59,397 is not justified, is liable to be deleted.” 29. The Assessing Officer has made following additions:– Opening bal. Interest credited Loan creditors

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

TDS has been deducted on such interest expenses claimed; more so, the alleged sum had already been repaid on 4-10-18 prior to the search conducted on 11-7-19; the addition of Rs.7,59,397 is not justified, is liable to be deleted.” 29. The Assessing Officer has made following additions:– Opening bal. Interest credited Loan creditors

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

1,84,80,597, by making addition of ` 10,54,71,710, on account of disallowance of loss on sale of NPAs to Asset Reconstruction Company and also made disallowance of expenses aggregating to ` 13,92,389, being 30% of ` 46,41,297, on which TDS was not deducted. Such disallowance was made under section

BANK OF INDIA,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, TDS, CIRCLE-51(1), NAGPUR

In the result, all the appeals of the assessee stands allowed for statistical purposes

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhury(Through Virtual Hearing)

TDS provisions under the section. Information was collected from Zonal office as regards the branches paying/crediting interest to customers’ accounts, for an amount in excess of the basic exemption limit, without deduction of tax at source on receiving Form Nos.15G/15H. On perusal of such information, the AO noted certain cases, as tabulated in his order, where interest paid was more

BANK OF INDIA,NAGPUR vs. DEPUTY COMMISSIONER INCOME TAX, TDS, CIRCLE-51(1), NAGPUR

In the result, all the appeals of the assessee stands allowed for statistical purposes

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhury(Through Virtual Hearing)

TDS provisions under the section. Information was collected from Zonal office as regards the branches paying/crediting interest to customers’ accounts, for an amount in excess of the basic exemption limit, without deduction of tax at source on receiving Form Nos.15G/15H. On perusal of such information, the AO noted certain cases, as tabulated in his order, where interest paid was more

BANK OF INDIA,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, TDS, CIRCLE-51(10, NAGPUR

In the result, all the appeals of the assessee stands allowed for statistical purposes

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhury(Through Virtual Hearing)

TDS provisions under the section. Information was collected from Zonal office as regards the branches paying/crediting interest to customers’ accounts, for an amount in excess of the basic exemption limit, without deduction of tax at source on receiving Form Nos.15G/15H. On perusal of such information, the AO noted certain cases, as tabulated in his order, where interest paid was more

BANK OF INDIA,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX,TDS, CIRCEL-51(1), NAGPUR

In the result, all the appeals of the assessee stands allowed for statistical purposes

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhury(Through Virtual Hearing)

TDS provisions under the section. Information was collected from Zonal office as regards the branches paying/crediting interest to customers’ accounts, for an amount in excess of the basic exemption limit, without deduction of tax at source on receiving Form Nos.15G/15H. On perusal of such information, the AO noted certain cases, as tabulated in his order, where interest paid was more

BANK OF INDIA,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, TDS, CIRCLE-51(1), NAGPUR

In the result, all the appeals of the assessee stands allowed for statistical purposes

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhury(Through Virtual Hearing)

TDS provisions under the section. Information was collected from Zonal office as regards the branches paying/crediting interest to customers’ accounts, for an amount in excess of the basic exemption limit, without deduction of tax at source on receiving Form Nos.15G/15H. On perusal of such information, the AO noted certain cases, as tabulated in his order, where interest paid was more

BANK OF INDIA,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, TDS, CIRCLE-51(1), MAGPUR

In the result, all the appeals of the assessee stands allowed for statistical purposes

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhury(Through Virtual Hearing)

TDS provisions under the section. Information was collected from Zonal office as regards the branches paying/crediting interest to customers’ accounts, for an amount in excess of the basic exemption limit, without deduction of tax at source on receiving Form Nos.15G/15H. On perusal of such information, the AO noted certain cases, as tabulated in his order, where interest paid was more

BANK OF INDIA,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, TDS, CIRCLE-51(1),, NAGPUR

In the result, all the appeals of the assessee stands allowed for statistical purposes

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhury(Through Virtual Hearing)

TDS provisions under the section. Information was collected from Zonal office as regards the branches paying/crediting interest to customers’ accounts, for an amount in excess of the basic exemption limit, without deduction of tax at source on receiving Form Nos.15G/15H. On perusal of such information, the AO noted certain cases, as tabulated in his order, where interest paid was more

BANK OF INDIA,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, TDS, CIRCEL-51(1), NAGPUR

In the result, all the appeals of the assessee stands allowed for statistical purposes

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhury(Through Virtual Hearing)

TDS provisions under the section. Information was collected from Zonal office as regards the branches paying/crediting interest to customers’ accounts, for an amount in excess of the basic exemption limit, without deduction of tax at source on receiving Form Nos.15G/15H. On perusal of such information, the AO noted certain cases, as tabulated in his order, where interest paid was more

BANK OF INDIA,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, TDS, CIRCLE-51(1), NAGPUR

In the result, all the appeals of the assessee stands allowed for statistical purposes

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhury(Through Virtual Hearing)

TDS provisions under the section. Information was collected from Zonal office as regards the branches paying/crediting interest to customers’ accounts, for an amount in excess of the basic exemption limit, without deduction of tax at source on receiving Form Nos.15G/15H. On perusal of such information, the AO noted certain cases, as tabulated in his order, where interest paid was more

BANK OF INDIA,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, TDS, CIRCLE-51(1), NAGPUR

In the result, all the appeals of the assessee stands allowed for statistical purposes

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhury(Through Virtual Hearing)

TDS provisions under the section. Information was collected from Zonal office as regards the branches paying/crediting interest to customers’ accounts, for an amount in excess of the basic exemption limit, without deduction of tax at source on receiving Form Nos.15G/15H. On perusal of such information, the AO noted certain cases, as tabulated in his order, where interest paid was more

BANK OF INDIA,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, TDS, CIRCLE-51(1), NAGPUR

In the result, all the appeals of the assessee stands allowed for statistical purposes

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhury(Through Virtual Hearing)

TDS provisions under the section. Information was collected from Zonal office as regards the branches paying/crediting interest to customers’ accounts, for an amount in excess of the basic exemption limit, without deduction of tax at source on receiving Form Nos.15G/15H. On perusal of such information, the AO noted certain cases, as tabulated in his order, where interest paid was more