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

M/S. RAI UDYOG LTD.,NAGPUR vs. JOINT COMMISSIONER OF INCOME TAX (TDS), NAGPUR

In the result, these twin appeals are allowed for statistical purposes

Bench: Hon’Ble Shri S. S. Godara & Shri G. D. Padmahshaliआयकर अपऩल सं. / Ita No. 311 & 312/Nag/2022 निर्धारण वषा / Assessment Year : 2014-15 Rai Udyog Limited 1, Rajat Sankul, Opp. Bus Stand, Ganesh Peth, Nagpur-440018 Pan: Aaccr6008G . . . . . . . अपीलार्थी / Appellant बिधम / V/S Income Tax Officer (Tds) Hq-1 / Joint Commissioner Of Income Tax (Tds), Nagpur . . . . . . . प्रत्यर्थी / Respondent द्वधरध/ Appearances Assessee By : None For The Assessee Revenue By : Mr Abhay Marathe [‘Ld. Dr’] सुनवाई की तारीख / Date Of Conclusive Hearing : 21/03/2024 घोषणा की तारीख / Date Of Pronouncement : 21/03/2024 आदेश/ Order Per G. D. Padmahshali, Am; By These Twin Appeals The Assessee Challenged Against The Din & Order No. Itba/Nfac/S/250/2022-23/1044245542(1) & Itba/Nfac/S/250/2022- 23/1044244849(1) Both Dt. 28/07/2022 Passed U/S 250 Of The Income-Tax Act, 1961 [‘The Act’ Hereinafter] By The National Faceless Appellate Centre [‘Nfac’ Hereinafter] For Assessment Year 2014-15 [‘Ay’ Hereinafter].

91,000/- on account of failure to deduct tax at source [‘TDS’ hereinafter] u/s 194IA of the Act from the payment made by it against the purchases of immovable property/s. On an application u/s 154 by the assessee, the Ld. Income Tax Officer (TDS-Hq1) [‘ITO’ hereinafter] by an order dt. 27/07/2018 rectified the arithmetical mistake in computing the interest

RAI UDYOG LTD.,NAGPUR vs. INCOME TAX OFFICER (TDS), NAGPUR

In the result, these twin appeals are allowed for statistical purposes

Bench: Hon’Ble Shri S. S. Godara & Shri G. D. Padmahshaliआयकर अपऩल सं. / Ita No. 311 & 312/Nag/2022 निर्धारण वषा / Assessment Year : 2014-15 Rai Udyog Limited 1, Rajat Sankul, Opp. Bus Stand, Ganesh Peth, Nagpur-440018 Pan: Aaccr6008G . . . . . . . अपीलार्थी / Appellant बिधम / V/S Income Tax Officer (Tds) Hq-1 / Joint Commissioner Of Income Tax (Tds), Nagpur . . . . . . . प्रत्यर्थी / Respondent द्वधरध/ Appearances Assessee By : None For The Assessee Revenue By : Mr Abhay Marathe [‘Ld. Dr’] सुनवाई की तारीख / Date Of Conclusive Hearing : 21/03/2024 घोषणा की तारीख / Date Of Pronouncement : 21/03/2024 आदेश/ Order Per G. D. Padmahshali, Am; By These Twin Appeals The Assessee Challenged Against The Din & Order No. Itba/Nfac/S/250/2022-23/1044245542(1) & Itba/Nfac/S/250/2022- 23/1044244849(1) Both Dt. 28/07/2022 Passed U/S 250 Of The Income-Tax Act, 1961 [‘The Act’ Hereinafter] By The National Faceless Appellate Centre [‘Nfac’ Hereinafter] For Assessment Year 2014-15 [‘Ay’ Hereinafter].

91,000/- on account of failure to deduct tax at source [‘TDS’ hereinafter] u/s 194IA of the Act from the payment made by it against the purchases of immovable property/s. On an application u/s 154 by the assessee, the Ld. Income Tax Officer (TDS-Hq1) [‘ITO’ hereinafter] by an order dt. 27/07/2018 rectified the arithmetical mistake in computing the interest

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; 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

DCIT-CC-1(3), NAGPUR, NAGPUR vs. R.B.S.D. AND F.N. DAS(EXPORT FIRM), VIZIANAGRAM

In the result, appeal filed by the Revenue is dismissed

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

91,861/- TOTAL Rs. 25,06,079/- 12 R.B.S.D. And F.N. Das Export Firm ITA no.234/Nag./2023 6.2 Assessee submitted following documents in support of the claim of expenditure- a) Copy of bills submitted by above parties b) Details of payments made to parties along with due TDS c) copy of bank statements reflecting payments to the parties. 6.3 However

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

91,86/- Properties 9 R.B.S.D. AND FN Das (Export Firm) ITA no.36/Nag./2024 During assessment proceeding appellant has submitted copy of bills issued by labour contractors, their Ledger account in the books of appellant, copy of form 16A downloaded from Traces site and bank statements showing payments to them after due deduction of TDS. However, the ld. AO held that

ASSISTANT COMMISSIONER INCOME TAX-CENTRAL CIRCLE-1(3), NAGPUR vs. RADHIKA METALS AND MINERALS, VIZIANAGARAM

In the result, appeal filed by the Revenue is dismissed

section 69C of the Act.\n4.\nOn appeal, the learned CIT(A), considering the entire submissions made\nby the assessee, deleted the additions of ₹ 3,14,08,070 and ₹ 85,55,612\nrespectively made by the Assessing Officer. The relevant findings of the order\npassed by the learned CIT(A) covering the above two additions are extracted\nbelow

INCOME TAX OFFICER WARD -1, AKOLA vs. M/S BALKRISHANA TRADERS , NAGPUR

In the result, all the appeals of Revenue are dismissed

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

91,670/- which was processed u/s. 143(1) of the Act vide order dated 04-11-2009. Thereafter, the said assessment was reopened by issuing notice u/s. 148 of the Act and the reasons of which the AO reproduced the at pages 1 and 2 of the assessment order. On perusal of the same, we note that the AO found

INCOME TAX OFFICER WARD -1, AKOLA vs. M/S BALKRISHANA TRADERS , NAGPUR

In the result, all the appeals of Revenue are dismissed

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

91,670/- which was processed u/s. 143(1) of the Act vide order dated 04-11-2009. Thereafter, the said assessment was reopened by issuing notice u/s. 148 of the Act and the reasons of which the AO reproduced the at pages 1 and 2 of the assessment order. On perusal of the same, we note that the AO found

INCOME TAX OFFICERS WARD -1 , AKOLA vs. M/S BALKRISHANA TRADERS , AKOLA

In the result, all the appeals of Revenue are dismissed

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

91,670/- which was processed u/s. 143(1) of the Act vide order dated 04-11-2009. Thereafter, the said assessment was reopened by issuing notice u/s. 148 of the Act and the reasons of which the AO reproduced the at pages 1 and 2 of the assessment order. On perusal of the same, we note that the AO found

SMT. ANJU SARAF,,NAGPUR vs. A,C.I.T CENT CIR. 2(2), NAGPUR

In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed

Bench: Shrisandeepgosain & Shriarunkhodpia

91,805/- received by the appellant from commercial property in Prestige Obelisk, Bangalore estimated the monthly rent of Flat at Rs 3 lacs per Month. First of all, the ALV of residential flat cannot be determined by comparing it with commercial property and 24 Smt. AanjuSaraf which is not in the same building or vicinity. Secondly the commercial property