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

unexplained cash credit under section 68 of the Act and interest paid on such credits have already been decided by us vide Para-20 to 25, of this order, wherein we have decided this issue in favour of the assessee and against the Revenue for the detailed reasoning given therein. Consistent with the view taken by us, similar additions

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

unexplained cash credit under section 68 of the Act and interest paid on such credits have already been decided by us vide Para-20 to 25, of this order, wherein we have decided this issue in favour of the assessee and against the Revenue for the detailed reasoning given therein. Consistent with the view taken by us, similar additions

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

unexplained cash credit under section 68 of the Act and interest paid on such credits have already been decided by us vide Para-20 to 25, of this order, wherein we have decided this issue in favour of the assessee and against the Revenue for the detailed reasoning given therein. Consistent with the view taken by us, similar additions

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

unexplained cash credit under section 68 of the Act and interest paid on such credits have already been decided by us vide Para-20 to 25, of this order, wherein we have decided this issue in favour of the assessee and against the Revenue for the detailed reasoning given therein. Consistent with the view taken by us, similar additions

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

unexplained cash credit under section 68 of the Act and interest paid on such credits have already been decided by us vide Para-20 to 25, of this order, wherein we have decided this issue in favour of the assessee and against the Revenue for the detailed reasoning given therein. Consistent with the view taken by us, similar additions

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

unexplained cash credits. This has been discussed by the AO in para 14 of the assessment order. 2.2 The AO has made addition under section 68 on account of credit received from 3 people viz. 1. Dharmendra Manwani HUF - Rs. 50,00,000 II. Prakash Alimchandani - Rs. 15,00,000 Nirmala Devi Khandelwal - Rs. 10,00,000 2.3 The assessee

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

unexplained cash credits are fully justified." I have gone through the documents filed by assessee and I am of the opinion that the identity of the creditors and genuineness of transactions stands established. The AO had himself accepted the identity around genuineness of said unsecured loans. But the AO had not accepted the creditworthiness of lenders only because the bank

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

Unexplained cash credit u/s 68 on account of share 1. capital and premium received from M/s Saphire 4,54,98,000 Marketing Pvt Ltd. Disallowance u/s 40a(ia) on account of payment made 2. to the Advocate Shri Rahul Bagade wilthout deducting 1,50,000 TDS

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

MAHESHKUMAR HARGOVIND GOYAL,NAGPUR vs. WARD 1(2), NAGPUR

In the result, appeal filed by the assessee is allowed for statistical purposes

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

TDS amount; (5) As per the notice mentions that the bank interest income of Rs. 2,19,894/- as per 26AS has not been taken by us in our income but no Interest income is being reflected in our 26AS as on 21.12.2018 from bank. (6) Also the cash books are not available with us now it has been more

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

TDS on commission was deducted by such entity UME TAX DEPART Without prejudice to the above, if the statement of the assessee is accepted that he had received cash from various parties and has transferred the same by RTGS/NEFT to them, then it makes it ample clear that he had acted as conduit to convert black money of any other

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

TDS on commission was deducted by such entity UME TAX DEPART Without prejudice to the above, if the statement of the assessee is accepted that he had received cash from various parties and has transferred the same by RTGS/NEFT to them, then it makes it ample clear that he had acted as conduit to convert black money of any other

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

TDS on commission was deducted by such entity UME TAX DEPART Without prejudice to the above, if the statement of the assessee is accepted that he had received cash from various parties and has transferred the same by RTGS/NEFT to them, then it makes it ample clear that he had acted as conduit to convert black money of any other

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. SHRI DHARAMPAL R.AGRAWAL, NAGPUR

In the result, Revenue’s appeal stands dismissed

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

Credits P. Ltd., [2011] 332 ITR 396 (Del.) wherein the Hon'ble Court held that the CIT(A) should admit the additional evidence if he finds that the same is crucial for the disposal of the appeal. Further, the decision of the CIT(A) is supported by the decision of the Co–ordinate Bench of the Tribunal rendered in Bhavya

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

TDS has been deducted on cash payments also. The AO has failed to bring on record any infirmity or discrepancy in the vouchers/bills or any record in relation to the claim of such expenditure. The trading result has also been accepted by the AO. The AO has alleged that there exist irregularities and discrepancies as regards claim of expenditure made

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. SMT. ANJU SARAF, 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

TDS has been deducted on cash payments also. The AO has failed to bring on record any infirmity or discrepancy in the vouchers/bills or any record in relation to the claim of such expenditure. The trading result has also been accepted by the AO. The AO has alleged that there exist irregularities and discrepancies as regards claim of expenditure made

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. SMT. ANJU A. SARAF, 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

TDS has been deducted on cash payments also. The AO has failed to bring on record any infirmity or discrepancy in the vouchers/bills or any record in relation to the claim of such expenditure. The trading result has also been accepted by the AO. The AO has alleged that there exist irregularities and discrepancies as regards claim of expenditure made

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. SMT. ANJU A. SARAF, 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

TDS has been deducted on cash payments also. The AO has failed to bring on record any infirmity or discrepancy in the vouchers/bills or any record in relation to the claim of such expenditure. The trading result has also been accepted by the AO. The AO has alleged that there exist irregularities and discrepancies as regards claim of expenditure made