ACIT-CENTRAL CIRCLE -2(1), NAGPUR vs. SHRI NANDKUMAR KHATTUMAL HARCHANDANI , NAGPUR

section 131 have been recorded by the Kolkata Directorate and in the statement they have admitted that they had indulged in providing accommodation entry of LTGC through the above companies controlled by them. The observations made by the Assessing Officer in Para-7.4 is that “there is a strong, non -rebuttable evidence that the company was a paper company

I.T.O. WARD -1, AMRAVATI vs. SHRI SANJAY NANASAHEB BHARSAKALE, AMRAVATI

In the result, the appeal of the department is rejected

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

bogus liability being created was there as held by AO-In that view of matter, finding arrived at by Tribunal was not perverse-Section 68 in facts of the case had no applicability-Question was, thus, answered in favour of assessee. 12. The Ld.DR could not satisfactorily rebut the proposition so placed. He then submitted that the lenders

DY COMMISSIONER OF INOCME TAX , CIRCLE -2, NAGPUR vs. M/S N KUMAR CONSTRUCTION CO .PVT.LTD , NAGPUR

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

bogus. Therefore, it was mandatory for the Revenue to produce A for cross-examination by the assessee on their specific demand in this regard. There may well be instances 18 M/s. N. Kumar Construction Co. Pvt. Ltd. Assessment Year 2012–13 where the reopening may pass muster in light of some facts, but those facts by themselves may turn

DY COMMISSIONER OF INOCME TAX , CIRCLE -2, NAGPUR vs. M/S N KUMAR CONSTRUCTION CO .PVT.LTD , NAGPUR

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

Section 68, initial onus was upon appellant to establish identity, genuineness of transaction and capacity of lender or depositor-Confirmation of transaction had been received by AO by issuing notice U/s. 133(6), therefore, identity had been established-Genuineness of transaction could be safely concluded since entire transaction had been done through banking channel duly recorded in books of assesse

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

bogus loans or capitalization. Your kindness may also appreciate the fact, at the cost of the repetition that the assessee has duly deducted TDS on interest payments. A complete working vis-à-vis loan receipt, repayment, bank statement and TDS returns are enclosed for your kind perusal. These parties have also reported income and claimed benefit of TDS credit

ITO, WARD- 1)1), NAGPUR vs. AXYKNO ENTERPRISES PVT. LTD., NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

purchase bills and that the assessee M/s. Axykno Enterprises Pvt. Ltd. ITA no.47/Nag./2019 is one of the many beneficiaries of the business of accommodation entries run by Shri Praveen Kumar Jain. In view of this, a proposal under section 263 of the Act was sent by the Assessing Officer to the learned Principal Commissioner of Income Tax–1, Nagpur

DCIT CC 1(1), NAGPUR, NAGPUR vs. BRINDESH GOVERDHANDAS AGRAWAL, NAGPUR

In the result, appeal by the Revenue stands dismissed

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

bogus document which cannot be relied upon. Even the payment by cheques as mentioned in the alleged Agreement to Sell are not mentioned in the actual sale deed executed on 29.09.2017. It was also submitted that if the department is in possession of any corroborative document, then the same shouldbe supplied to the assessee before taking any adverse decision against

DY. COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(1), NAGPUR vs. SHRI SANJAY GAURISHANKAR AGRAWAL , NAGPUR

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

131 of the I. T Act, 1961 the detailed modus operandi for providing bogus LTCG and also that he has indulged in providing accommodation entry for LTCG through the above companies controlled by him.” 4. With the above factual backdrop, ground–wise adjudication is take up as under. 5. The issue arose out of ground no.1 is, whether

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

section 153D dated 29/09/2021 is in mechanical/routine manner without application of mind by Addl.CIT, which is merely a formality, an empty ritual and as such it leads to flagrant violation of the rules of law. 45. The third contention of the learned A.R. is that while granting such mechanical approval dated 29/09/2021 under section 153D for the assessment year

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

section 153D dated 29/09/2021 is in mechanical/routine manner without application of mind by Addl.CIT, which is merely a formality, an empty ritual and as such it leads to flagrant violation of the rules of law. 45. The third contention of the learned A.R. is that while granting such mechanical approval dated 29/09/2021 under section 153D for the assessment year

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

section 153D dated 29/09/2021 is in mechanical/routine manner without application of mind by Addl.CIT, which is merely a formality, an empty ritual and as such it leads to flagrant violation of the rules of law. 45. The third contention of the learned A.R. is that while granting such mechanical approval dated 29/09/2021 under section 153D for the assessment year

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

section 153D dated 29/09/2021 is in mechanical/routine manner without application of mind by Addl.CIT, which is merely a formality, an empty ritual and as such it leads to flagrant violation of the rules of law. 45. The third contention of the learned A.R. is that while granting such mechanical approval dated 29/09/2021 under section 153D for the assessment year

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

section 153D dated 29/09/2021 is in mechanical/routine manner without application of mind by Addl.CIT, which is merely a formality, an empty ritual and as such it leads to flagrant violation of the rules of law. 45. The third contention of the learned A.R. is that while granting such mechanical approval dated 29/09/2021 under section 153D for the assessment year

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

section 153D dated 29/09/2021 is in mechanical/routine manner without application of mind by Addl.CIT, which is merely a formality, an empty ritual and as such it leads to flagrant violation of the rules of law. 45. The third contention of the learned A.R. is that while granting such mechanical approval dated 29/09/2021 under section 153D for the assessment year

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), NAGPUR vs. M/S. RADHA RADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

purchasers of the flats. It is beyond the concept of preponderance and human probabilities that a businessman has ventured into a commercial venture only to make loos. [iv] Although such amended provision from 01.10.2014 with reference to Valuation Officer does not require rejection of books of accounts, but there must be some compelling circumstances to refer the valuation particularly when

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), NAGPUR vs. M/S. RADHA MADHAV DEVELOPER , NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

purchasers of the flats. It is beyond the concept of preponderance and human probabilities that a businessman has ventured into a commercial venture only to make loos. [iv] Although such amended provision from 01.10.2014 with reference to Valuation Officer does not require rejection of books of accounts, but there must be some compelling circumstances to refer the valuation particularly when

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1),NAGPUR, NAGPUR vs. M/S. RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

purchasers of the flats. It is beyond the concept of preponderance and human probabilities that a businessman has ventured into a commercial venture only to make loos. [iv] Although such amended provision from 01.10.2014 with reference to Valuation Officer does not require rejection of books of accounts, but there must be some compelling circumstances to refer the valuation particularly when

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), NAGPUR vs. M/S. RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

purchasers of the flats. It is beyond the concept of preponderance and human probabilities that a businessman has ventured into a commercial venture only to make loos. [iv] Although such amended provision from 01.10.2014 with reference to Valuation Officer does not require rejection of books of accounts, but there must be some compelling circumstances to refer the valuation particularly when