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

56 of the I.T. Act, 1961 and thus the written off of its basis investment amount would not qualify for deduction as business income us. 80P(2)(a)(i) of the I.T. Act, 1961. 10. In this regard I humbly wish to submit that the Assessing Officer has completely misinterpreted the facts of the case. The Assessing Officer has made

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

2 Hinganghat Nagri Sahakari Pat Sanstha ITA no.569/Nag./2024 after the return was filed within Assessment Proceeding as on 17.01.2023 bearing Ack No. 923756621170123 which is acknowledged in the Assessment Order itself. 3. That the Ld. Commissioner (Appeals) had erred in law and facts in confirming addition made by Learned AO to the Income of Appellant to the extent

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

2 Hinganghat Nagri Sahakari Pat Sanstha ITA no.569/Nag./2024 after the return was filed within Assessment Proceeding as on 17.01.2023 bearing Ack No. 923756621170123 which is acknowledged in the Assessment Order itself. 3. That the Ld. Commissioner (Appeals) had erred in law and facts in confirming addition made by Learned AO to the Income of Appellant to the extent

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

2 Hinganghat Nagri Sahakari Pat Sanstha ITA no.569/Nag./2024 after the return was filed within Assessment Proceeding as on 17.01.2023 bearing Ack No. 923756621170123 which is acknowledged in the Assessment Order itself. 3. That the Ld. Commissioner (Appeals) had erred in law and facts in confirming addition made by Learned AO to the Income of Appellant to the extent

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

In the result, appeal by the assessee for A

56 of Income Tax Act, 1960 by wrongly applying ratio laid down by\nSupreme Court in the case of Totagars Co. Op. sale Society Ltd. vs. ITO as the\nfacts of the appellant's case distinguished from Totagars case.\n4. That the Ld. Commissioner (Appeals) has erred in considering the source of\nfund for Fixed Deposit as surplus funds available

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

TDS of Rs.12,52,000 has been duly deposited with government and hence, disallowance under section 40a(ia) is not warranted. 8 Latitude Infraventures ITA no.349 & 350/Nag./2024 A.Y. 2016–17 & 2017–18 3.5 Therefore, the issues sought to be revised by the learned CIT does not result into any prejudice to the Revenue. Therefore, the twin condition of order

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

TDS of Rs.12,52,000 has been duly deposited with government and hence, disallowance under section 40a(ia) is not warranted. 8 Latitude Infraventures ITA no.349 & 350/Nag./2024 A.Y. 2016–17 & 2017–18 3.5 Therefore, the issues sought to be revised by the learned CIT does not result into any prejudice to the Revenue. Therefore, the twin condition of order

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; it had already been accepted in scrutiny assessment completed u/s143(3) dt.18-8-16; 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.3,99,600 is not justified, is liable to be deleted.” 6. The assessee

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; it had already been accepted in scrutiny assessment completed u/s143(3) dt.18-8-16; 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.3,99,600 is not justified, is liable to be deleted.” 6. The assessee

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; it had already been accepted in scrutiny assessment completed u/s143(3) dt.18-8-16; 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.3,99,600 is not justified, is liable to be deleted.” 6. The assessee

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; it had already been accepted in scrutiny assessment completed u/s143(3) dt.18-8-16; 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.3,99,600 is not justified, is liable to be deleted.” 6. The assessee

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; it had already been accepted in scrutiny assessment completed u/s143(3) dt.18-8-16; 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.3,99,600 is not justified, is liable to be deleted.” 6. The assessee

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; it had already been accepted in scrutiny assessment completed u/s143(3) dt.18-8-16; 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.3,99,600 is not justified, is liable to be deleted.” 6. The assessee

ASSISTANT COMISSIONER CENTRAL CIRCLE 1(3), NAGPUR vs. M/S SHRIGOPAL RAMESHKUMAR SALES PVT. LTD , NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

56,100 Additions made : i. Unexplained Cash payments U/s 69C ` 31,90,320 ii. Unexplained Cash Payment U/s 69C ` 5,27,067 ` 30,187 iii. Unexplained expenditure U/s 69C ` 5,13,63,972 iv. Alleged Excess Stock ` 33,26,574 v. Recovery from Farmers not recorded in books of accounts vi. Cash received not accounted in books of ` 2

AHSAAN QURESHI,NAGPUR vs. ACIT CIRCLE-2, NAGPUR

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao

TDS as per provisions of section 194H of the Act. The learned CIT(A) held that the in view of the amendment made in section 40a(ia) of the Act and in section 201(1) of the Act by Finance Act, 2012, has no retrospective effect and the case laws relied upon by the assessee are not relevant with

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

section 10(3) of the Act. Ground no.5, raised by the Revenue is thus dismissed by upholding the impugned order passed by the learned CIT(A). 18. Ground no.6, raised by the Revenue relates to the addition of ` 68,02,624, made on account of unexplained unsecured loans. 19. The observations of the learned CIT(A) while deleting the addition

YASH TRAVELS AND TOURS PRIVATE LIMITED,NAGPUR vs. THE INCOME TAX OFFICER WARD - 2(2) NAGPUR, NAGPUR

In the result, the grounds of appeal raised by the assessee are

Bench: Shri Pawan Singh& Shri Khettra Mohan Roy(Physical Hearing) Yash Travels & Tours Pvt. Ltd. Ito, Ward–2(2), Nagpur F–5, Shrdha House, Vs Aayakar Bhawan, Civil Lines, Kingsway, Nagpur–4440001. Nagpur–440001. [Pan: Aaacy3931D] Appellant / Assessee Respondent / Revenue

2) of National Highway Act-1956. The assessee was further allowed interest @ 9.00% per annum on the enhanced compensation w.e.f. from date of notification under section 3-D of National Highway Act i.e. from 01.06.2011. As per working of interest up to 31.07.2022, which is available at page No. 27, the interest on compensation

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

56,255 (plus value of land at Dhaba Rs.50,42,320 and investment in Plants & Equipment Rs.14.04.783) in both original as well as revised (though invalid) ITR/Audit report, not making claim of depreciation alternatively allowable u/s 32 on the capital expenditure incurred by the appellant on construction of the Warehouse in accordance with section 35AD(4), not disputing the factum