ASSTT.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

132 of the IT Act, 1961 and assessment orders under Section 153A were also passed simultaneously by the same Assessing Officer. It is surprising to note that no addition was made in the hands of Sufalam Infra Projects Pvt. ACIT Vs. Radha Madhav Developers ITA nos. 26,27,47,48,49, 140/Nag./2021 & CO Nos. 3, 4 5/Nag/2023

ASSTT.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

132 of the IT Act, 1961 and assessment orders under Section 153A were also passed simultaneously by the same Assessing Officer. It is surprising to note that no addition was made in the hands of Sufalam Infra Projects Pvt. ACIT Vs. Radha Madhav Developers ITA nos. 26,27,47,48,49, 140/Nag./2021 & CO Nos. 3, 4 5/Nag/2023

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

132 of the IT Act, 1961 and assessment orders under Section 153A were also passed simultaneously by the same Assessing Officer. It is surprising to note that no addition was made in the hands of Sufalam Infra Projects Pvt. ACIT Vs. Radha Madhav Developers ITA nos. 26,27,47,48,49, 140/Nag./2021 & CO Nos. 3, 4 5/Nag/2023

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

132 of the IT Act, 1961 and assessment orders under Section 153A were also passed simultaneously by the same Assessing Officer. It is surprising to note that no addition was made in the hands of Sufalam Infra Projects Pvt. ACIT Vs. Radha Madhav Developers ITA nos. 26,27,47,48,49, 140/Nag./2021 & CO Nos. 3, 4 5/Nag/2023

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

132(4). The assessee had no opportunity to cross-examine the said witness, but that apart, the mandatory procedure under section 153C has not been followed; On this count alone, we conclude that the alleged additions made in assessments made under section 153A for unabated years i.e., A.Y. 2014-15, 2015-16 & 2016-17 on the date of search

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

132(4). The assessee had no opportunity to cross-examine the said witness, but that apart, the mandatory procedure under section 153C has not been followed; On this count alone, we conclude that the alleged additions made in assessments made under section 153A for unabated years i.e., A.Y. 2014-15, 2015-16 & 2016-17 on the date of search

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

132(4). The assessee had no opportunity to cross-examine the said witness, but that apart, the mandatory procedure under section 153C has not been followed; On this count alone, we conclude that the alleged additions made in assessments made under section 153A for unabated years i.e., A.Y. 2014-15, 2015-16 & 2016-17 on the date of search

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

132(4). The assessee had no opportunity to cross-examine the said witness, but that apart, the mandatory procedure under section 153C has not been followed; On this count alone, we conclude that the alleged additions made in assessments made under section 153A for unabated years i.e., A.Y. 2014-15, 2015-16 & 2016-17 on the date of search

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

132(4). The assessee had no opportunity to cross-examine the said witness, but that apart, the mandatory procedure under section 153C has not been followed; On this count alone, we conclude that the alleged additions made in assessments made under section 153A for unabated years i.e., A.Y. 2014-15, 2015-16 & 2016-17 on the date of search

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

132(4). The assessee had no opportunity to cross-examine the said witness, but that apart, the mandatory procedure under section 153C has not been followed; On this count alone, we conclude that the alleged additions made in assessments made under section 153A for unabated years i.e., A.Y. 2014-15, 2015-16 & 2016-17 on the date of search

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

132(4) of the Act on 01/10/2013, during the search proceedings carried out by the Director of Income Tax (Inv), Income Tax Department, Mumbai. It is the further case of the Department that Shri Praveen Kumar Jain, conceded in the statement that he provided hawala entries to the interested persons in the garb of share application money and purchase bills

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

In the result, appeal of the Revenue stands dismissed

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

purchase and sale of shares, which is part of Paper book and also sent on remand. On 18.03.2011, the aforesaid share were sold for the Rs. 42,53,735/-. Demat account and Sale Note were produced. The loss incurred at Rs. 57,46,180/- was reflected in the ITR for A.Y. 2011- 12. At the same time, the assessee further

DY. COMMISSIONER OF INCOME TAX EXEMPTION CIRCLE NAGPUR, NAGPUR vs. VIDHARBHA BAHUUDESHIYA SHIKSHAN SANSTHA, NAGPUR, NAGPUR

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri R. K. Pandaassessment Year : 2017-18

132 of the Act carried out in the case of Oneworld group of cases on 06.11.2019. During the course of search proceedings it was revealed that various Oneworld group entities have shown purchases and sales from and to the entities controlled and managed by one Shri Rajesh G. Mehta and he was found to be involved in bogus purchase

ASSISTANT COMMISSIONER OF INCOME TAX, NAGPUR vs. M/S. GUPTA METALLICS & POWER LTD, NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

132(4) of the Act for the present year. During the course of search, several items of books of accounts and incriminating documents were found and seized. On the date of survey in the factory premises of GMPL at Chunala, huge quantity of stock was found. The stock was valued by an approved valuer in the presence of supervisors

ZIM LABORATORIES LIMITED ,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -2(1), NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

132(1) overlooking the crucial fact that the original return filed by the assessee was only processed u/s 143(1) and no scrutiny assessment was made earlier. 4. On the facts and circumstances of the case and in law, the Ld. CIT(A) erred in holding that the scope of section 153 A is limited assessing only search related income

ZIM LABORATORIES LIMITED ,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -2(1), NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

132(1) overlooking the crucial fact that the original return filed by the assessee was only processed u/s 143(1) and no scrutiny assessment was made earlier. 4. On the facts and circumstances of the case and in law, the Ld. CIT(A) erred in holding that the scope of section 153 A is limited assessing only search related income

ZIM LABORATORIES LIMITED ,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -2(1), NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

132(1) overlooking the crucial fact that the original return filed by the assessee was only processed u/s 143(1) and no scrutiny assessment was made earlier. 4. On the facts and circumstances of the case and in law, the Ld. CIT(A) erred in holding that the scope of section 153 A is limited assessing only search related income

DAYAL COTSPIN LIMITED,AKOLA vs. ACIT, AKOLA CIRCLE, AKOLA

In the result, appeal filed by the assessee is allowed

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

4. From the seized material it was established that M/s. Dayal Cotspins Ltd. is one of the beneficiaries which has received bogus accommodation entries. From the case records the details are noticed as under: Sr Name Address PAN No. of Share Share Total No shares Capital Premium amount 1. Prabhav Chinoi AAACE4 25000 125000 4875000 50,00,000/– Industries Bldg