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

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

Vii) of the Act squarely applicable in this case and hence, the learned CIT(A) found no reason to interfere in the order of the Assessing Officer. Accordingly, the issue raised by the assessee was dismissed. The assessee being aggrieved, is in further appeal before the Tribunal. 8. The learned Departmental Representative, Shri Abhay Y. Marathe, appearing on behalf

ASSTT.COMMISSIONER OF INCOME TAX CIRCLE-5, NAGPUR vs. THE NIRMAL UJWAL CREDIT CO-OP SOCIETY LTD, NAGPUR

In the result, appeal filed by the Revenue for the assessment year

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

9)(1), Hyderabad in CA No. 10245 of 2017 and also in spite of the fact that Interest income earned from commercial banking Institutions would not be entitled for deduction u/s 80P(2) of the I.T. Act, 1961. 2 The Nirmal Ujwal Credit Co–operative Society Ltd. A.Y. 2012–13 2. Whether on the facts and circumstances of the case

DEPUTY COMMISSIONER OF INCOME TAX , CIRCLE-2, NAGPUR vs. M/S UNITED BUILDERS , BHANDARA

In the result, appeal filed by the Revenue is allowed

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

section 271(1)(c) of the Act was initiated separately. The assessee being aggrieved, carried the matter before the learned CIT(A). 7. The learned CIT(A), in view of the submissions made by the assessee, held that the action of the Assessing Officer in making the impugned addition is not found to be sustainable in the facts

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

9. The learned CIT(A) directed to delete the addition by observing as follows:- “41. I have carefully considered all the facts about this addition. The break up of total unsecured loans of Rs. 14,97,50,912 is as under: Opening balances of unsecured loans Rs. 1,67,09,217 Unsecured loans taken from related concerns

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

vii) following expenses Remuneration Rs. 27,15,985 Administrative expenses Rs. 20,02,195 Rs.47,18,180 Disallowance at 20% ` 9,43,636 ` 6,46,05,741 Loan from Shree Agarwal Coal India P.Ltd. treated (After Rectifi- (viii) as dividend u/s 2(22)(e) cation: ` 6,49,70,741 Loan from Mansa Agro Food Processing

YOGESH NANDALAL CHANDE,CHANDRAPUR vs. ITO WARD-1, CHANDRAPUR

In the result, appeal filed by the assessee is allowed

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

section 139(1) of the Act thereby dismissing assessee’s appeal directing the Assessing Officer to verify the claim of TDS credit of ` 14,93,947, on the salary income offered by the assessee amounting to ` 31,73,253, which was duly reflected in Form no.26AS. The assessee being aggrieved, by the order so passed by the learned

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

section 40(a)(ia) are applicable in appellant's case and therefore the addition made by the AO was not warranted. The addition of Rs 1,50,000/- made u/s 40(a)(ia) may be deleted only if the appellant's AR submits necessary documentary evidence in support of his contention. Hence, this ground of appeal is 'partly allowed

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

vii. Cash received not recorded in Books ` 4,58,000 viii. Kutchha Sale of Deoiled Cake ` 20,800 Total of Additions made ` 8,39,16,920 Assessed Total Income ` 11,29,73,020 4. The learned CIT(A) confirmed the addition of ` 2,50,00,000, while deleting / reducing the balance additions against which the Revenue has preferred the impugned

SHAILESH CHAMPAKLAL VAKHARIA,NAGPUR vs. ASSISSTANT COMMISSIONER OF INCOME (CENTRAL) CIRCLE - 1(1), NAGPUR

In the result, appeal filed by the assessee stands allowed

Bench: Shri Narender Kumar Choudhry & Shri K.M. Roy, Accountant, Member

TDS of Rs. 20,000/-. xiii. There is also mention of the amount payable before 15th January, 2017 (Rs. 78.15 lakhs) and at the time of sale deed or before 15 April, 2017 (Rs. 2.60cr). xiv. AO completed the assessment order u/s 143(3) r.w.s. 153C of the Act on 27-09-2021 determining total assessed income

ASSTT. CIT, CIR- 7, NAGPUR vs. M/S. NEWQUEST CORPORATION LTD., CHANDRAPUR

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year: 2008-2009 The Acit Vs. M/S.Newquest Corporation Ltd. Circle-7, (Now Known As M/S. Avantha Nagpur Holding Ltd. Ballalrpur Paper Mills P.O. Ballarpur, Distt. Chandrapur Pan No.:Aabcb 6134 E Appellant Respondent

vii) Provide strategic oversight to top level talent Organization structure is a platform of larger strategy and the means in achieving the goal to evolve the desired structures. It is imperative that the assessee company will continue to provide a framework to implement various policies and decisions of the Avantha Management Board. In rendering corporate support service, various functions will