M/S SHREE SAIBABA CONSTRUCTION,,NAGPUR vs. CIT-IV,, NAGPUR

In the result, assessee’s appeal stands allowed

Bench: Shri P.K. Bansal & Shri Amarjit Singh

bogus and non-genuine, the AO was required to disallow 60% of the total URD purchases of Rs. 5.10 crore instead of limiting the disallowance to the purchases in respect of the aforesaid 8 parties examined by her. In this view of the matter, the order dated 30.12.2011 passed by the AO is erroneous. Further, as the same has resulted

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

142(1) of the Act, filed detailed submissions/reply along with connected documents as sought by the Assessing Officer in the above notice. 7. There was a search and seizure operation was also conducted under section 132(1) of the Act on RKTC Group, Korba, and Suresh Agrawal, Director of Rashi Steel & Power Pvt. Ltd., Kolkata, on 22/01/2019, and thereafter

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

142(1) of the Act, filed detailed submissions/reply along with connected documents as sought by the Assessing Officer in the above notice. 7. There was a search and seizure operation was also conducted under section 132(1) of the Act on RKTC Group, Korba, and Suresh Agrawal, Director of Rashi Steel & Power Pvt. Ltd., Kolkata, on 22/01/2019, and thereafter

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

142(1) of the Act, filed detailed submissions/reply along with connected documents as sought by the Assessing Officer in the above notice. 7. There was a search and seizure operation was also conducted under section 132(1) of the Act on RKTC Group, Korba, and Suresh Agrawal, Director of Rashi Steel & Power Pvt. Ltd., Kolkata, on 22/01/2019, and thereafter

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

142(1) of the Act, filed detailed submissions/reply along with connected documents as sought by the Assessing Officer in the above notice. 7. There was a search and seizure operation was also conducted under section 132(1) of the Act on RKTC Group, Korba, and Suresh Agrawal, Director of Rashi Steel & Power Pvt. Ltd., Kolkata, on 22/01/2019, and thereafter

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

142(1) of the Act, filed detailed submissions/reply along with connected documents as sought by the Assessing Officer in the above notice. 7. There was a search and seizure operation was also conducted under section 132(1) of the Act on RKTC Group, Korba, and Suresh Agrawal, Director of Rashi Steel & Power Pvt. Ltd., Kolkata, on 22/01/2019, and thereafter

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

142(1) of the Act, filed detailed submissions/reply along with connected documents as sought by the Assessing Officer in the above notice. 7. There was a search and seizure operation was also conducted under section 132(1) of the Act on RKTC Group, Korba, and Suresh Agrawal, Director of Rashi Steel & Power Pvt. Ltd., Kolkata, on 22/01/2019, and thereafter

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

142(1) of the Act during the regular assessment framed under section 143(3) of Act. All corporate shareholders were assessed to income tax and transactions of subscription of share capital were through proper banking channel. Regular assessment was framed under 3 Dayal Cotspin Ltd. section 143(3) of the Act, on 23/03/2015, by accepting share capital contribution and income

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

3. (2013) 218 Taxman 0142 (Guj. HC) Commissioner of Income Tax –Vs.- Gujarat Industrial Development Corporation Ltd. Tribunal was satisfied in affirming deletion of disallowance under section 14A when revenue failed to establish that assessee had incurred any expenses for earning dividend income from the amount borrowed, therefore, tribunal was justified in affirming deletion of disallowance under section

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

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

3) shows that the assessing officer, not being a court could rely upon material, which might not strictly be evidence admissible under the Indian Evidence Act for the purpose of making an order of assessment. xx) On the facts and circumstances of the case & in law, the Ld. CIT(A) failed to appreciate the plain reading of section 142

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

142(1) of the Act along with a questionnaire was issued in response to which the assessee filed its submissions before the Assessing Officer. 3. During the course of assessment proceedings the Assessing Officer noted that a search and seizure action u/s 132 of the Act was carried out in the case of Oneworld group of cases on 06.11.2019. During

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

DCIT-CC-2(1), NAGPUR, NAGPUR vs. INDRAKUMAR GHISULAL AGRAWAL, NAGPUR

In the result, appeal by the assessee stands allowed

Bench: Shri Pawan Singh & Shri Khettra Mohan Roy

section 250 of the Income Tax Act, 1961 (for short, “Act”) which is arising out of assessment order ITA Nos. 220/NAG/2023 (Indrakumar Ghisulal Agrawal) passed u/s. 143(3) dated 26.12.2017 by the ITO, Ward-4(1), Nagpur for the Assessment Year 2015-16. 2. Revenue has raised the following grounds of appeal:- “1. On the fact and in the circumstances

ASSISTANT COMMISSIONER OF INCOME TAX , CENTAL CIRCLE -2(2) , NAGPUR vs. SHRI NARENDRA MAGANMAL KOTHARI , NAGPUR

Accordingly, the grounds raised by the Revenue are dismissed

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

142 and 143 clearly suggests that the assessing officer may also act on the material gathered by him and the word 'material' clearly shows that the assessing officer is not fettered by the technical rules of evidence and the like, and that he may act on material which may not strictly speaking be accepted evidence in court of law. xxxi

ASSTT. C.I.T, CENTRAL CIR, -2(1), NAGPUR vs. M/S GUPTA COAL(INDIA) LTD, NAGPUR

In the result, cross objections No

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

bogus. Therefore, on the facts of case and in absence of displacing the finding of the CIT(A) and the fact that the assessee showed profit from these transactions, there is no such error in the order of the CIT(A) which requires correction. Respectfully following the above decisions, facts of the case and the evidence avialable on record

ASSTT. C.I.T, CENTRAL CIR, -2(1), NAGPUR vs. M/S GUPTA GLOBAL RESOURCES LTD(EAELIER KNOWN AS GUPTA COALFIELDS & WASHHERIES LTD), NAGPUR

In the result, cross objections No

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

bogus. Therefore, on the facts of case and in absence of displacing the finding of the CIT(A) and the fact that the assessee showed profit from these transactions, there is no such error in the order of the CIT(A) which requires correction. Respectfully following the above decisions, facts of the case and the evidence avialable on record

ASSTT. C.I.T, CENTRAL CIR, -2(1), NAGPUR vs. M/S GUPTA COAL(INDIA) LTD, NAGPUR

In the result, cross objections No

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

bogus. Therefore, on the facts of case and in absence of displacing the finding of the CIT(A) and the fact that the assessee showed profit from these transactions, there is no such error in the order of the CIT(A) which requires correction. Respectfully following the above decisions, facts of the case and the evidence avialable on record

ASSTT.C,I,.T, CENTRAL CIR, -2(3), NAGPUR vs. M/S GUPTA COALFIELDS & WASHERIES LTD., NAGPUR

In the result, cross objections No

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

bogus. Therefore, on the facts of case and in absence of displacing the finding of the CIT(A) and the fact that the assessee showed profit from these transactions, there is no such error in the order of the CIT(A) which requires correction. Respectfully following the above decisions, facts of the case and the evidence avialable on record

ASSTT. C.I.T, CENTRAL CIR, -2(1), NAGPUR vs. M/S GUPTA GLOBAL RESOURCES LTD(EAELIER KNOWN AS GUPTA COALFIELDS & WASHHERIES LTD), NAGPUR

In the result, cross objections No

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

bogus. Therefore, on the facts of case and in absence of displacing the finding of the CIT(A) and the fact that the assessee showed profit from these transactions, there is no such error in the order of the CIT(A) which requires correction. Respectfully following the above decisions, facts of the case and the evidence avialable on record