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

70,97,750, under section 56(2)(vii)(b) of the Act in the hands of Shri Vinod Durgukar, the husband of the assessee. Shri Durugkar, in response submitted that they have vide mutual agreement made additional payment of ` 53,16,327, to the vendors for the same property which also ought to be considered. The total payment thus made

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

TDS provisions as well as applicability of section 40A(3) so as to warrant any disallowance under those heads as per law. 18. That with respect to the addition of ` 16,42,713, it is the submission of the assessee that the said amount pertains to payments made by farmers/agriculturist to the labourers directly for unloading charges without any recourse

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

TDS was not deducted. Such disallowance was made under section 40(a)(ia) of the Act. Effectively, the business loss to be carried forward for subsequent years was reduced. Being aggrieved, appeal was preferred. 3 The Akola Urban Co–operative Bank Ltd. ITA no.119/Nag./2020 4. The learned CIT(A) elaborately dealt with the issue vide Para

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

70,741 Loan from Mansa Agro Food Processing P. Ltd ` 3,65,000 (ix) treated dividend u/s 2 (22)(e) The deposits with bank treated as unexplained (x) ` 40,63,928 Investment in purchase of land treated unexplained ` 4,42,000 (xi) Total:- ` 8,06,23,989 4 Shree Agarwal Finance India Pvt. Ltd. ITA no.176/Nag./2016 The assessee being

VIKRAM AGRAWAL,NAGPUR vs. ITO WARD 4(4), NAGPUR

In the result, appeal is dismissed

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

70,910/- during F.Y.2014-15 in the saving account no. 107004003000084 held with M/s Renuka Multistate Urban Co-operative Society in the name of Shri Vikram Kumar Agarwal reveals as under:- xxxxx xxxxx xxxxx 2. The summary of bank statement clearly reveals that out of total amount of Rs. 436.71 lakhs deposited in cash in his account, Rs. 77.87 lakhs have

VIKRAM AGRAWAL,NAGPUR vs. ITO WARD 4 (4), NAGPUR

In the result, appeal is dismissed

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

70,910/- during F.Y.2014-15 in the saving account no. 107004003000084 held with M/s Renuka Multistate Urban Co-operative Society in the name of Shri Vikram Kumar Agarwal reveals as under:- xxxxx xxxxx xxxxx 2. The summary of bank statement clearly reveals that out of total amount of Rs. 436.71 lakhs deposited in cash in his account, Rs. 77.87 lakhs have

VIKRAM AGRAWAL,NAGPUR vs. ITO WARD 4(4), NAGPUR

In the result, appeal is dismissed

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

70,910/- during F.Y.2014-15 in the saving account no. 107004003000084 held with M/s Renuka Multistate Urban Co-operative Society in the name of Shri Vikram Kumar Agarwal reveals as under:- xxxxx xxxxx xxxxx 2. The summary of bank statement clearly reveals that out of total amount of Rs. 436.71 lakhs deposited in cash in his account, Rs. 77.87 lakhs have

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

70,000/- in Axis Bank and received interest income of Rs. 15,81,842/- from banks on which 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

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

70,000/- in Axis Bank and received interest income of Rs. 15,81,842/- from banks on which 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

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

70,000/- in Axis Bank and received interest income of Rs. 15,81,842/- from banks on which 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

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

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

70,000/- in Axis Bank and received interest income of Rs. 15,81,842/- from banks on which 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

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

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

70 (Raj) 11 The Nirmal Ujwal Credit Co–operative Society Ltd. A.Y.2014–15 Considering plethora of judgments on said issue, we humbly request your kindness to kindly revoke impugned disallowances. 23. The provision of section 80P(2)(a) read as under “1) Where, in the case of an assessee being a co-operative society, the gross total income includes