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

unexplained cash credit under section 68 of the Act and ` 3,99,600, on account of interest paid on such bogus unsecured loans. 5 Maheshwari Coal Beneficatgion & Infrastructure Pvt. Ltd. A.Y. 2014–15 to 2020–21 9. On appeal, the learned CIT(A), without going on to the merits of the issues involved, simply dismissed the appeal filed

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

unexplained cash credit under section 68 of the Act and ` 3,99,600, on account of interest paid on such bogus unsecured loans. 5 Maheshwari Coal Beneficatgion & Infrastructure Pvt. Ltd. A.Y. 2014–15 to 2020–21 9. On appeal, the learned CIT(A), without going on to the merits of the issues involved, simply dismissed the appeal filed

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

unexplained cash credit under section 68 of the Act and ` 3,99,600, on account of interest paid on such bogus unsecured loans. 5 Maheshwari Coal Beneficatgion & Infrastructure Pvt. Ltd. A.Y. 2014–15 to 2020–21 9. On appeal, the learned CIT(A), without going on to the merits of the issues involved, simply dismissed the appeal filed

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

unexplained cash credit under section 68 of the Act and ` 3,99,600, on account of interest paid on such bogus unsecured loans. 5 Maheshwari Coal Beneficatgion & Infrastructure Pvt. Ltd. A.Y. 2014–15 to 2020–21 9. On appeal, the learned CIT(A), without going on to the merits of the issues involved, simply dismissed the appeal filed

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

unexplained cash credit under section 68 1.1. The assessee‟s proprietorship concern is almost 5 decades old concern. Considering the new model of business, it was decided to incorporate a new private limited company. Accordingly, a new private limited concern, named M/s Khandelwal Jewellers Akola Private Limited („KJAPL‟) was formed, wherein all the shares are held by the assessee

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

purchases made outside the books can be made once the net profit rate is applied on contract receipts of an assessee for estimating his income from contract work". The Hon'ble High Court of Allahabad in the case of CIT vs. Banwarilal Banshidhar, (1998) 229 ITR 0229 had taken a similar view and held that "where income is assessed

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 appellant on their specific demand in this regard. There may well be instances where the reopening may pass muster in light of some facts, but those facts 21 M/s. N. Kumar Construction Co. Pvt. Ltd. A.Y. 2010–11 by themselves may turn

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

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

cash credit as per plain reading of aforesaid provision of section 68 is not at all applicable in the case of the assessee, when the assessee has submitted each and every detail with respect of sale purchase of shares. The assessee also respectfully submitted that claim made by the assessee may kindly be allowed on account of following reasons

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

unexplained cash credit u/s. 68 of the I. T. Act without appreciating the fact that the assessee has filed to establish the genuineness for the transaction to the satisfaction of the AO thereby ignoring the Apex Court decision in the case Pavankumar M. Sanghvi Vs. Income Tax Officer (Special leave to appeal

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

unexplained credit U/s. 68 of the Income Tax Act; 14. The whole assessment is based on suspicion and surmise on the basis of statement recorded during the search and survey action of Shri Shirish Chandrakant Shah which were not confronted to the assessee; 15. The order of the assessing officer is arbitrary and without affording the reasonable opportunity

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

cash credit as per plain reading of aforesaid provision of section 68 is not at all applicable in the case of the assessee, when the assessee has submitted each and every detail with respect of sale purchase of shares.\nThe assessee also respectfully submitted that claim made by the assessee may kindly be allowed on account of following reasons

RAJESH SARDA,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), NAGPUR

In the result, the addition of undisclosed income under section 68 is deleted

Bench: Shri Pawan Singh & Shri Khettra Mohan Roy(Physical Hearing) Rajesh Sarda, Acit, Central Circle – 2(2), Nagpur 14, Daga Lay–Out, Ambazari Road, Vs Aayakar Bhawan, Civil Lines, Nagpur – 440033. Maharashtra – 440001. [Pan: Ahaps4925M] Appellant / Assessee Respondent / Revenue Assessee By Shri K.P. Dewani, Advocate Revenue By Shri Pankaj Kumar, Cit–Dr Date Of Hearing 16.02.2026 Date Of Pronouncement 24.02.2026 Order Under Section 254(1) Of Income Tax Act

credit entry as per provisions of section 68. Similarly, there is no basis or evidence on record for making addition of unexplained commission on expenditure. The addition of unexplained commission payment is solely based on assumption by AO. The ld. AR submits that assessee has no role in alleged manipulation of scrip of Kailash Auto Finance Ltd. or Premier Capital

ASSTT. COMMISSIONER OF INOCME TAX CENTRAL CIRCLE-2(2), NAGPUR vs. SHRI SUDHIR RAMSWAROOP SARDA , NAGPUR

unexplained cash credits under Section 68 of the Income Tax Act, 1961, alleging the transaction was a bogus accommodation entry. The CIT(A) deleted this addition, finding the AO's action unsustainable.", "held": "The Tribunal held that the Assessing Officer primarily relied on a general report from the Investigation Wing without bringing any specific material to show that the assessee

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

unexplained cash credit u/s 68 holding that the assessee has proved the identity and creditworthiness of the lender company and genuineness of the transaction without appreciating the fact that the assessee had not been able to prove credit worthiness of lender companies when the main source of fund was share premium which itself was from questionable sources

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

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

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

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

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