GOPAL DENESHCHANDRA TULSHAN ,AKOLA vs. INCOME TAX OFFICER, WARD-3, AKOLA

In the result, appeal filed by the assessee is partly allowed

Bench: Shri V. Durga Rao

section 50(a)(ia), the break up of which is as under:– a) M/s. Kach Ghar, Akola (Prop. Sunil D. tulshan) ` 1,86,667 b) Sohanlal Ganeshlal Bilala ` 7,777 c) Vijay Oil Industries ` 8,783 –––––––– ` 2,03,227 ====== Gopal Dineshchandra Tulshan ITA no.201/Nag./2023 AO has disallowed the above interest expenditure, since this appellant has not deducted TDS

TARANGAN INFRAVENTRURES PVT. LTD,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CPC- TDS, GHAZIABAD

In the result, the appeal of assessee is allowed

Bench: Shri S.S. Viswanethra Ravi & Shri G.D. Padmahshali

section 200A of the Act is not applicable, therefore, the order of CIT(A) is not justified in upholding the order passed u/s. 200A confirming the levy of fee u/s. 234E of the Act for default in furnishing TDS statement for A.Y. 2013-14 and it is set aside. 6. In the result, the appeal of assessee is allowed

MPA PROJECTS PVT. LTD.,NAGPUR vs. TDS CPC, GHAZIABAD

In the result, the appeal of assessee is allowed

Bench: Shri S.S. Viswanethra Ravi & Shri G.D. Padmahshali

section 200A of the Act is not applicable, therefore, the order of CIT(A) is not justified in upholding the order passed u/s. 200A confirming the levy of fee u/s. 234E of the Act for default in furnishing TDS statement for A.Y. 2013-14 and it is set aside. 6. In the result, the appeal of assessee is allowed

TALUKA AGRICULTURE OFFICER,CHANDRAPUR vs. ITO TDS WARD- 2(3), CHANDRAPUR

In the result, the appeal of assessee is allowed

Bench: Shri S.S. Viswanethra Ravi & Shri G.D. Padmahshali

section 200A of the Act is not applicable, therefore, the order of CIT(A) is not justified in upholding the order passed u/s. 200A confirming the levy of fee u/s. 234E of the Act for default in furnishing TDS statement for A.Y. 2013-14 and it is set aside. 6. In the result, the appeal of assessee is allowed

TALUKA AGRICULTURE OFFICER ,CHANDRAPUR vs. ITO, TDS WARD-2(3), CHANDRAPUR

In the result, the appeal of assessee is allowed

Bench: Shri S.S. Viswanethra Ravi & Shri G.D. Padmahshali

section 200A of the Act is not applicable, therefore, the order of CIT(A) is not justified in upholding the order passed u/s. 200A confirming the levy of fee u/s. 234E of the Act for default in furnishing TDS statement for A.Y. 2013-14 and it is set aside. 6. In the result, the appeal of assessee is allowed

KIRTI POPATBHAI PATEL,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CPC (TDS), GHAZIABAD

In the result, the appeal of assessee is allowed

Bench: Shri S.S. Viswanethra Ravi & Shri G.D. Padmahshali

section 200A of the Act is not applicable, therefore, the order of CIT(A) is not justified in upholding the order passed u/s. 200A confirming the levy of fee u/s. 234E of the Act for default in furnishing TDS statement for A.Y. 2013-14 and it is set aside. 6. In the result, the appeal of assessee is allowed

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(3), NAGPUR vs. M/S. FUELCO COAL INDIA LTD., NAGPUR

Appeal of the Revenue is dismissed

Bench: Shri V. Durgarao & Shrik.M. Roy, Accountant, Member

86,240, with MAT purpose book profit at ` 2,31,61,735. The return of income thus filed was selected for scrutiny assessment and notice under section 143(2) of the Income Tax Act, 1961 ("the Act") was served on 10/09/2015, on the assessee company. Scrutiny assessment under section 143(3) of the Act was completed vide order dated

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

86,500) are reflecting in the books of accounts of the assessee and which has further been duly considered by the learned CIT(A). On a conspectus of the facts and the details as provided by the assessee, we are of the considered view that the learned CIT(A) was right in deleting the additions to the extent

M/S TAWARI TRADERS ,BULDHANA vs. INCOME TAX OFFICER WARD -2, KHAMGAON

In the result, appeal by the assessee stands dismissed

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

86 of paper book of other documents). 6 M/s. Tiwari Traders ITA no.193/Nag./2019 Here the appellant contended that the provision of section 40(a)(ia) is applicable only on amount of interest "payable". In this regard, the provision of section 40(a)(ia) applicable for the subject assessment year is produced hereunder: 40. Notwithstanding anything to the contrary

RAVINDRA KHANDELWAL,AKOLA vs. ASSISTANT COMMISSIONER OF INCOME TAX - CIRCLE AKOLA , 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 36)\(1)(iii) of the Act. 10. The Assessing Officer disallowed a part of the interest considering it as interest on capital not borrowed for the purpose of business on proportionate basis. The assessee had debited ` 34,15,880, on account of interest on unsecured loans of ` 1,81,14,226. The Assessing Officer considered 24.39 per 4 Ravindra

DY. C.I.T. CENTRAL CIR2(2), NAGPUR vs. M/S SHREE AGRAWAL COAL INDIA PVT. LTD.,, NAGPUR

In the result, Revenue’s appeal stands dismissed

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

section 143(3) of the Act and proceeded to dispose off the appeal filed by the assessee on merits of the case wherein the learned CIT(A) deleted all the additions, as tabulated above, vide his impugned order dated 18/12/2015 supra. Against this order, the Revenue preferred appeal before the Tribunal. 5. Before us, the learned Departmental Representative, Shri Sandipkumar

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

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

TDS on the interest payments as stated by the AO in the Remand Report. On facts, it is held that the addition made by the AO was not justified. The addition of Rs. 7,86,217/- made by the AO due to disallowance of interest is, therefore, deleted. The AO is directed accordingly.” 12 Shree Agarwal Finance India