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

14,33,776/- on air handling system purchased from M/s Real Traders being bogus purchases of capital goods without going into the merits of the case. 3. On the facts and circumstances of the case and in law, the Ld. CIT(A) erred in holding that during assessment u/s 153 A r.w.s. 143(3), it was not open

SUBHASH BADRIPRASAD SHAHU,NAGPUR vs. ITO WARD 4(3), NAGPUR

In the result, the appeal filed by the assesee is partly allowed

Bench: Shri Pavan Kumar Gadalesubhash Badriprasad Shahu, Plot No.84, Near Annapurna Dall Mill, Bagad Ganj, Small Factory Area ……………. Appellant Nagpur 440 008. Maharashtra. Pan – Agqps9660N V/S Income Tax Officer ……………. Respondent Ward–4(3), Nagpur Assessee By :Shri. Abhay Agrawal.A.R. Revenue By :Shri Surjit Kumar Saha.Sr.Dr

bogus under section 69C of the Act. Whereas, the learned A.R. substantiated that the transactions are genuine and also submitted in the Paper Book highlighting the purchase bills, purchase register / sales register, stock, transportation bills referred in Page–16 to 39 of the Paper Book. The learned A.R’s contention that the assessee has already offered the purchases for income

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -1(2), NAGPUR vs. VIDARBHA INFOTECH PRIVATE LIMITED, NAGPUR

In the result, appeal by the Revenue is dismissed

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

purchases as bogus under section 69C." In the case of CIT v. Bhagwati Developers Pvt. Ltd. [2003] 261 ITR 658 (Cal.) it is held that if the source of the expenditure is explained section 69C has no applicability. It is also respectfully submitted that the addition u/s. 69C has been made merely on suspicion and conjectures without refuting any facts

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

bogus purchase and sale transactions wherein only invoices were raised and there was no actual movement / delivery of goods. Further, Shri Rajesh G. Mehta in his statement had also provided the details of the entities controlled and managed by him and the company M/s. Aneri Fincap Ltd was one of the entities controlled and managed by Shri Rajesh G. Mehta

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

bogus transactions and there is neither name of assessee nor name of the company “Parag Shilpa Infrastructure Ltd.” in the entire report. As per Para 4.6, the assessing officer stated that “the assessee has purchased the share of M/s. PSIT Infrastructure Ltd. for a very low price”. The assessee has actually not purchased PS IT Infrastructure shares, but assessee

M/S. UNIJULES LIFE SCIENCES LTD.,NAGPUR vs. ASSISTNAT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), NAGPUR

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.45/Nag/2023 िनधा"रण वष" / Assessment Year : 2012-13 M/S.Unijules Life Sciences The Assistant Ltd., V Commissioner Of Income B-35/36, Midc, S Tax, Central Circle-2(1), Kamleshwar, Nagpur. Nagpur – 441501 Pan: Aaacu8032D Appellant / Assessee Respondent / Revenue Assessee By Shri Kapil Hirani – Adv.-Ar Revenue By Shri Kailash C. Kanojiya – Cit-Dr Date Of Hearing 27/03/2024 Date Of Pronouncement 28/03/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeals)-3, Nagpur Under Section 250 Of The Act, Dated 08.11.2011 For The A.Y.2012-13 Emanating From The Order Under Section 153A R.W.S 143(3) Of M/S.Unijule Life Sciences Ltd., [A]

section 153A r.w.s 143(3) of M/s.Unijule Life Sciences Ltd., [A] the Act, dated 30.03.2016. The assessee has raised the following grounds of appeal : “1) The Assessment u/s 153A r.w.s 143(3) of Income Tax Act, 1961 (“Act”) is illegal, invalid and deserves to quashed in the interest of justice. 2) On the facts and circumstances of the case

ALFIYA AYAZALI SAYYAD,NAGPUR vs. INCOME TAX OFFICER, WARD-2(2), NAGPUR

In the result, appeal filed by the assessee is allowed

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

bogus purchase. The learned CIT(A) in Para–5.1.4 to 5.1.5 has held as under:– Alfiya Ayazali Sayyad ITA no.206/Nag./2022 3.1.4. The views similar to the above decision of Delhi and Kerala High Courts were expressed by the Allahabad High Court in the case of Sushil Kumar Sharad Kumar 232 ITR 588 (Alld.). Similarly, the Delhi High Court

M/S UNIJULES LIFE SCIENCES LTD.,NAGPUR vs. DCIT CENTRAL CIRCLE-2(1), 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

14 of Insolvency and Bankruptcy Code, 2016 ("I&B Code") the order passed by Hon'ble CIT(A) dated 08.11.2021 is bad in law and liable to be quashed in the interest of justice. 3) On the facts and circumstances of the case and in law, the AO grossly erred in making and the CIT(A) grossly erred in confirming

M/S UNIJULES LIFE SCIENCES LTD.,NAGPUR vs. ACIT CENTRAL CIRCLE-2(1), 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

14 of Insolvency and Bankruptcy Code, 2016 ("I&B Code") the order passed by Hon'ble CIT(A) dated 08.11.2021 is bad in law and liable to be quashed in the interest of justice. 3) On the facts and circumstances of the case and in law, the AO grossly erred in making and the CIT(A) grossly erred in confirming

M/S. UNIFUES LIFE SCIENCES LTD.,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX,, NAGPUR

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.419/Nag/2022 िनधा"रण वष" / Assessment Year : 2011-12 M/S.Unijules Life Sciences The Assistant Ltd., V Commissioner Of Income B 35/36, Midc Kalmehwar, S Tax, Central Circle-2(1), Nagpur – 441501. Nagpur. Pan: Aaacu8032D Appellant/ Assessee Respondent/Revenue Assessee By None. Revenue By Shri Abhay Y. Marathe – Sr.Dr Date Of Hearing 27/02/2024 Date Of Pronouncement 28/02/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeals)-3, Nagpur Under Section 250 Of The Income Tax Act, 1961 Dated 08.11.2021 Emanating From The Order Under Section 153A R.W.S 143(3) Of The Act, 1961 Dated 30.03.2016. The Grounds Of Appeal Raised By The Assessee Are As Under : M/S.Unijules Life Sciences Ltd., [A]

section 153A r.w.s 143(3) of the Act, 1961 dated 30.03.2016. The grounds of appeal raised by the Assessee are as under : M/s.Unijules Life Sciences Ltd., [A] “1) The Assessment u/s 153A r.w.s 143(3) of Income Tax Act, 1961 (“Act”) is illegal, invalid and deserves to quashed in the interest of justice. 2) On the facts and circumstances

DCIT, CIRCLE-2, NAGPUR, NAGPUR vs. NARESH LAXMINARAYAN GROVER, NAGPUR

In the result, all these three appeals for the A

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

Section 68 of the Act. The tribunal while dismissing the appeals filed by the Revenue also observed on facts that these shares were purchased by respondent on the floor of Stock Exchange and not from the said broker, deliveries were taken, contract notes were issued and shares were also sold on the floor of Stock Exchange. The ITAT therefore

DCIT, CIRCLE-2, NAGPUR, NAGPUR vs. NARESH LAXMINARAYAN GROVER, NAGPUR

In the result, all these three appeals for the A

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

Section 68 of the Act. The tribunal while dismissing the appeals filed by the Revenue also observed on facts that these shares were purchased by respondent on the floor of Stock Exchange and not from the said broker, deliveries were taken, contract notes were issued and shares were also sold on the floor of Stock Exchange. The ITAT therefore

DCIT, CIRCLE-2, NAGPUR, NAGPUR vs. NARESH LAXMINARAYAN GROVER, NAGPUR

In the result, all these three appeals for the A

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

Section 68 of the Act. The tribunal while dismissing the appeals filed by the Revenue also observed on facts that these shares were purchased by respondent on the floor of Stock Exchange and not from the said broker, deliveries were taken, contract notes were issued and shares were also sold on the floor of Stock Exchange. The ITAT therefore

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

bogus transactions and there is neither name of assessee nor name of the company \"Parag Shilpa Infrastructure Ltd.” in the entire report.\nAs per Para 4.6, the assessing officer stated that \"the assessee has purchased the share of M/s. PSIT Infrastructure Ltd. for a very low price”. The assessee has actually not purchased PS IT Infrastructure shares, but assessee

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

14,17,010, after making addition of ` 1,62,35,000 under section 69 of the Act on account of 3 Shri Brindesh Goverdhandas Agrawal ITAn o.258/Nag./2023 unexplained investment under section 69 of the Act. The assessee being aggrieved by the assessment order passed by the Assessing Officer under section 143(3) r/w section 153C

M/S UNIJULES LIFE SCIENCES LTD.,NAGPUR vs. DCIT CENTRAL CIRCLE-2(1), 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

14 of Insolvency and Bankruptcy Code, 2016 ("I&B Code") the order passed by Hon'ble CIT(A) dated 08.11.2021 is bad in law and liable to be quashed in the interest of justice. 3) On the facts and circumstances of the case and in law, the AO grossly erred in making and the CIT(A) grossly erred in confirming

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