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

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

164 of the Paper Book. The appellant has submitted the PAN, addresses, Memorandum of Articles alongwith incorporation certificate, copy of return alongwith audit reports of the both companies. The appellant has also submitted the bank statement of the both companies, in which transaction were duly reflected and the transaction of the appellant were against the advance received by the appellant

ASSTT.COMMISSIONER OF INCOME TAX CIRCLE-1, NAGPUR vs. VISHNU GILTS PVT.LT, NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

purchasing shares of M/s Murli Industries Limited. The appellant submitted that the investor companies were aware that the promoters Shri Nandlal Maloo and Shri Mahesh Maloo had a proven rack record of management & profit generating skills while being promoters of M/s Murli Industries Limited in the solvent, power, pulp as well as the paper industry and had vast experience

DY COMMISSIONER OF INCOME TAX , CIRCLE-1, NAGPUR vs. M/S NIHAL GITS PVT.LTD , NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

purchasing shares of M/s Murli Industries Limited. The appellant submitted that the investor companies were aware that the promoters Shri Nandlal Maloo and Shri Mahesh Maloo had a proven rack record of management & profit generating skills while being promoters of M/s Murli Industries Limited in the solvent, power, pulp as well as the paper industry and had vast experience

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -1, NAGPUR vs. M/S RAGHAV FINVEST PVT LTD , NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

purchasing shares of M/s Murli Industries Limited. The appellant submitted that the investor companies were aware that the promoters Shri Nandlal Maloo and Shri Mahesh Maloo had a proven rack record of management & profit generating skills while being promoters of M/s Murli Industries Limited in the solvent, power, pulp as well as the paper industry and had vast experience

RAMKRUSHNA ZILBAJI THAKRE ,NAGPUR vs. INCOME TAX OFFICER , WRAD -4(4), NAGPUR

In the result, appeal of the assessee is allowed

purchase of agricultural land and investment In house as utilization of said consideration were submitted. 7. That spouse of petitioner is not required to pay Income Tax on such transaction as capital gain in view of investment in specified assets 8. That affidavit of both witnesses to said agreement to sale were submitted and are on record In such situation

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