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

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

SANJAY KISAN CHOPDE,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, NAGPUR

In the result, appeal of the assessee is allowed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.176/Nag/2022 िनधा"रण वष" / Assessment Year : 2014-15 Sanjay Kisan Chopde, The Deputy Balaji Associates, Gs 37, Vs Commissioner Of Amar Jyoti Palace, Lomat Income Tax, Circle-1, Square, Wardha Road, Nagpur. Nagpur – 440012. Pan: Abapc6968N Appellant/ Assessee Respondent/Revenue Assessee By Shri Abhay Agrawal – Advocate Revenue By Shri Abhay Y. Marathe – Sr.Dr Date Of Hearing 25/01/2024 Date Of Pronouncement 30/01/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeals)[Nfac], Dated 30.3.2022 Emanating From Assessment Order Under Section 143(3) Dated 30.06.2016 For A.Y.2014-15. The Grounds Of Appeal Raised By The Assessee Are As Under : Sanjay Kisan Chopde [A]

80,000/- (Rs.2,00,000/- less Rs.20,000 TDS) which remained as an un-reconciled amount in his books and records. It was further pointed out to the learned A.O. that, the assessee is a contractor and therefore his deductors usually deducted the TDS at the rate of 2% under section

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

In the result, appeal by the assessee for A

TDS is deducted. It is seen that the assessee has not\nfiled his return of income for AY 2015-16. The above transactions, total to\namount Rs.1,32,51,842/- remain unexplained and there is escapement of\nincome in absence of return of income filed. Thus income from above\ntransaction has not been offered

SHRI PRAMOD NARAYANRAO GHALANI ,WARDHA vs. INCOME TAX OFFICER, WARD-1, WARDHA

In the result, appeal filed by the assessee is allowed

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

80,280. Subsequently, notice under section 142(1) and 143(2) were issued and served on the assessee. The Assessing Officer asked the assessee to file various details like copy of bank statement, copy of Balance Sheet as on 31/03/2009, and details of interest paid, etc. The Assessing Officer noted that the assessee, during the financial year, derived income from

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

80,539/-). 11. On the facts and in the circumstances of the case and in law, the learned CIT(A) has erred in deleting the addition of Rs.40,63,928/- made on account of unexplained cash deposits. 12. On the facts and circumstances of the case and in law, the learned CIT(A) has erred in deleting the addition

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, CENTRAL CIRCLE, AKOLA, NAGPUR vs. RBSD AND FN DAS, NAGPUR

In the result, appeal by the Revenue stands dismissed

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

80,280. Later on, the case was re–opened pursuant to order under section 263 and notice under section 143(2)) of the Act was issued to the assessee on 06/02/2023 and duly served. Notice under section 142(1) of the Act was also issued on 08/03/2023. Accordingly, the Assessing Officer completed assessment on 30/03/2023 determining total assessed income

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

80 Taxman 89 (SCJ "But, in view of section 68 of the Act, where any sum is found credited in the books of the assessee for any previous year the same may be charged to income tax as the income of the assessee of that previous year if the explanation offered by the assessee about the nature and source thereof

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

80 Taxman 89 (SCJ "But, in view of section 68 of the Act, where any sum is found credited in the books of the assessee for any previous year the same may be charged to income tax as the income of the assessee of that previous year if the explanation offered by the assessee about the nature and source thereof

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

80 Taxman 89 (SCJ "But, in view of section 68 of the Act, where any sum is found credited in the books of the assessee for any previous year the same may be charged to income tax as the income of the assessee of that previous year if the explanation offered by the assessee about the nature and source thereof

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 which remained to be claimed in original return of income. There were no changes in income insofar as other claims are concerned. The case was selected for Scrutiny under CASS. The Assessing Officer concluded by passing order dated 27/12/2017, under section 143(3) of the Income Tax Act, 1961 ("the Act") on total loss of ` (-) 1,84,80

ACIT CENTRAL CIRCLE-1(3), NAGPUR vs. R.B.S.D. AND F.N. DAS (EXPORT FIRM), VIZIANAGARAM

In the result, appeal filed by the Revenue is dismissed

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

80,335, by making addition of ` 1,25,89,787, under section 69C r/w section 115BBE of the Act treating it as bogus expenses on account of payment to labour contractors. 5. On appeal, the learned CIT(A) deleted the addition with following observations:– “4. Discussion and Decision:– ……… Ground no.3, is regarding addition of ` 1,25,89,787, under section

BAJAJ STEEL INDUSTIES LTD.,NAGPUR vs. ASSESSIG OFFICER, NATIONAL E-ASSESSMENT CENTRE, DELHI

In the result, appeal of the assessee is allowed for statistical purpose

Bench: Shri Satbeer Singh Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.20/Nag/2023 िनधा"रण वष" / Assessment Year : 2018-19 Bajaj Steel Industries The Assessing Officer, Limited, Vs National E-Assessment 539/540, Imambada Road, Centre, Delhi. Maharashtra. Pan: Aaacb 5340 H Appellant / Assessee Respondent / Revenue Assessee By Shri Rajesh V. Loya – Ca Revenue By Shri Kailash Kanojiya – Sr.Dr Date Of Hearing 28/08/2023 Date Of Pronouncement 30/08/2023 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Directed Against The Order Under Section 250 Of The Income Tax Act, 1961 Passed By The Ld.Cit(A)[Nfac], Delhi Dated 22.12.2022 For A.Y.2018-19 Emanating From Assessment Order Under Section 143(3) R.W.S. 144B Of The Act Dated 24.04.2021. The Assessee Has Raised Following Grounds Of Appeal : Bajaj Steel Industries Limited [A]

80,032/- on Bill of Exchange u/s 40(a)(ia) of the Income Tax Act, 1961 holding that the TDS has not been deducted on the same. On the facts and circumstances of the case, the action of both the authorities is highly unjustified. 10. That the learned CIT(A) erred in law and on facts in sustaining the action

INCOME TAX OFFICER , WARD -4, AMRAVATI vs. SHRI MAHESH SHANKAR SORATE , DARYAPUR

In the result, appeal filed by the Revenue is dismissed

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

80,000 01.12.2012 Cash 53. – do – 1,00,000 30.01.2013 Total 85,76,380 Shri Mahesh Shankar Sorate ITA no.250/Nag./2018 5. On a perusal of the above chart, the learned JCIT noted that the assessee repaid the loan by cash exceeding ` 20,000, which is other than by way of Account Payee Cheque or Account Payee Demand Draft hence

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

section 68 only sets up a presumption against the assessee whenever unexplained credits are found in the books of account of the assessee. It cannot but be again said that the presumption is rebuttable. In refuting the presumption raised, the initial burden is on the assessee. This burden, which is placed on the assessee, shifts as soon as 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; 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