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

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

32. It is worth noticing that in ACIT –vs.- Mr. Mohammed Suhail, Kurnool in ITA No. 1536.Hyd/2014, order dated 13.02.2015, the Coordinate Bench of this Tribunal specifically held that the provisions of section 194C(6) are independent of section 194C(7), and just because there is violation of provisions of section 194C(7), disallowance under section

RAVINDRA MADANLAL KHANDELWAL,AKOLA vs. DCIT/ACIT CIRCLE , 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

1) identity of the creditor, (ii) genuineness of the transaction; and (iii) credit-worthiness of the creditor. 14. In Pr. CIT v. Veedhata Towers (P) Ltd. [2018] 403 ITR 415 (Bom), this court has held that assessee is only required to explain the source of the credit. There is no requirement under the law to explain the source

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. SMT. ANJU SARAF, NAGPUR

In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed

Bench: Shrisandeepgosain & Shriarunkhodpia

ii) rw explanation 2 has not been fulfilled. I agree with the contention of the AR of the appellant that value of plant & machinery carried over from one year to another year does not mean that there was a transfer to new business of plant & machinery previously used far any purpose as contemplated by the said provision of section

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. SMT. ANJU A. SARAF, NAGPUR

In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed

Bench: Shrisandeepgosain & Shriarunkhodpia

ii) rw explanation 2 has not been fulfilled. I agree with the contention of the AR of the appellant that value of plant & machinery carried over from one year to another year does not mean that there was a transfer to new business of plant & machinery previously used far any purpose as contemplated by the said provision of section

SMT. ANJU SARAF,,NAGPUR vs. A,C.I.T CENT CIR. 2(2), NAGPUR

In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed

Bench: Shrisandeepgosain & Shriarunkhodpia

ii) rw explanation 2 has not been fulfilled. I agree with the contention of the AR of the appellant that value of plant & machinery carried over from one year to another year does not mean that there was a transfer to new business of plant & machinery previously used far any purpose as contemplated by the said provision of section

SMT. ANJU SARAF,,NAGPUR vs. A,C.I.T CENT CIR. 2(2), NAGPUR

In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed

Bench: Shrisandeepgosain & Shriarunkhodpia

ii) rw explanation 2 has not been fulfilled. I agree with the contention of the AR of the appellant that value of plant & machinery carried over from one year to another year does not mean that there was a transfer to new business of plant & machinery previously used far any purpose as contemplated by the said provision of section

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. SMT. ANJU SARAF, NAGPUR

In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed

Bench: Shrisandeepgosain & Shriarunkhodpia

ii) rw explanation 2 has not been fulfilled. I agree with the contention of the AR of the appellant that value of plant & machinery carried over from one year to another year does not mean that there was a transfer to new business of plant & machinery previously used far any purpose as contemplated by the said provision of section

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. SMT. ANJU A. SARAF, NAGPUR

In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed

Bench: Shrisandeepgosain & Shriarunkhodpia

ii) rw explanation 2 has not been fulfilled. I agree with the contention of the AR of the appellant that value of plant & machinery carried over from one year to another year does not mean that there was a transfer to new business of plant & machinery previously used far any purpose as contemplated by the said provision of 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

ii) Bank Statement of Daksh Diamonds, (iii) IT return copy of Mr.Ritesh Siraya (Prop. Daksh Diamonds) for AY07-08, (iv) Financial of M/s Daksh Diamonds for AY07-08 (v) Ledger account of M/s Daksh Diamonds for the period 3-7-06 to 6-9-10 and (vi) P&L account, balance sheet and IT return of the appellant for AY07

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

ii) Bank Statement of Daksh Diamonds, (iii) IT return copy of Mr.Ritesh Siraya (Prop. Daksh Diamonds) for AY07-08, (iv) Financial of M/s Daksh Diamonds for AY07-08 (v) Ledger account of M/s Daksh Diamonds for the period 3-7-06 to 6-9-10 and (vi) P&L account, balance sheet and IT return of the appellant for AY07

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

ii) Bank Statement of Daksh Diamonds, (iii) IT return copy of Mr.Ritesh Siraya (Prop. Daksh Diamonds) for AY07-08, (iv) Financial of M/s Daksh Diamonds for AY07-08 (v) Ledger account of M/s Daksh Diamonds for the period 3-7-06 to 6-9-10 and (vi) P&L account, balance sheet and IT return of the appellant for AY07

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

ii) Bank Statement of Daksh Diamonds, (iii) IT return copy of Mr.Ritesh Siraya (Prop. Daksh Diamonds) for AY07-08, (iv) Financial of M/s Daksh Diamonds for AY07-08 (v) Ledger account of M/s Daksh Diamonds for the period 3-7-06 to 6-9-10 and (vi) P&L account, balance sheet and IT return of the appellant for AY07

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

ii) Bank Statement of Daksh Diamonds, (iii) IT return copy of Mr.Ritesh Siraya (Prop. Daksh Diamonds) for AY07-08, (iv) Financial of M/s Daksh Diamonds for AY07-08 (v) Ledger account of M/s Daksh Diamonds for the period 3-7-06 to 6-9-10 and (vi) P&L account, balance sheet and IT return of the appellant for AY07

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

ii) Bank Statement of Daksh Diamonds, (iii) IT return copy of Mr.Ritesh Siraya (Prop. Daksh Diamonds) for AY07-08, (iv) Financial of M/s Daksh Diamonds for AY07-08 (v) Ledger account of M/s Daksh Diamonds for the period 3-7-06 to 6-9-10 and (vi) P&L account, balance sheet and IT return of the appellant for AY07

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

ii) Regarding the additions, the AR relied on CIT(A) order.” 7. Having given a thoughtful consideration to the arguments made by the rival parties and perusing the material available on record, we now address the issues raised by the assessee on a point-wise basis. 8. Ground no.1, raised by the Revenue relates to admission of additional evidence under

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

In the result, all the appeals are partly allowed in above terms

Bench: Shri R.S.Syal & Shri Partha Sarathi Chaudhury

32 342/Nag/2022 Bank of India, -do- 2013-14 Parsheoni Branch 33 343/Nag/2022 Bank of India, -do- 2014-15 Parsheoni Branch Assessee by : Shri Pratik Sadrani & Shri Hardik Chordia Revenue by : Shri Sanjay Agrawal सुनवाई क" तार"ख / Date of Hearing : 23.08.2023 घोषणा क" तार"ख / Date of Pronouncement : 28.08.2023 आदेश / ORDER PER Bench: These thirty three appeals arise