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

unexplained credit U/s. 68 of the Income Tax Act;\nii. The assessee has furnished contract not for purchase and sale of shares and each and every details, bank statement showing receipt of sale proceed amount and demat account statement for holding of shares;\niii. The whole assessment is based on suspicion and enquiry made by the Principal Director of Income

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

investments in penny stock for obtaining bogus LTCG as in the assessee’s case. 3. On the fact and in the circumstances of the case, the Ld. CIT (A) erred in allowing the appeal of the assessee by ignoring the fact that the fundamentals of the M/s. GCM Securities do not corroborate with the instant hike in the price

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-4, NAGPUR, NAGPUR vs. SHIKHA INDRAKUMAR AGRAWAL, NAGPUR

In the result, appeal by the assessee stands allowed

Bench: Shri Pawan Singh & Shri Khettra Mohan Roy

investments in penny stock for obtaining bogus LTCG as in the assessee’s case. 3. On the facts and in the circumstances of the case, the Ld. CIT (Appeals), NFAC erred in allowing the appeal of the assessee by ignoring the fact that the fundamentals of the M/s. GCM Securities do not corroborate with the instant hike in the price

SUNRISE STRUCTURALS & ENGINEERING PVT LTD,NAGPUR vs. ASSISTANT/ DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-4 NAGPUR, NAGPUR

In the result, appeal filed by the assessee stands allowed

Bench: Shri Pawan Singh & Shri Khettra Mohan Roysunrise Structural & Acit/Dcit, Circle-4, Engineering P. Ltd., A10, Vs Nagpur Hingna Midc, Nagpur (Urban), Nagpur-440016 Pan : Aaccs 3220 M Assessee Respondent Assessee By : Shri K.P. Dewani, Advocate Revenue By : Shri Surjit Kumar Saha, Sr. Dr Date Of Hearing : 25.02.2026 Date Of Pronouncement : 10.04.2026 O R D E R

Investments Pvt. Ltd. (P- 108 – 115) [Vol.- III] iv) 422 ITR 520 (Bom) PCIT vs. Vaman International Pvt. Ltd. (P- 116 – 123) (123) [Vol.- III] v) (2019) 104 taxmann.com 216 (Bom.) South Yarra Holdings vs. ITO (P- 167 – 170) (170) [Vol.- II] F) Invocation of section 147 of I.T. Act 1961 (amended) is strictly contingent upon the existence of actual

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. M/S SHREE AGRAWAL FINANCE INDIA P. LTD.,, NAGPUR

In the result, Revenue’s appeal is dismissed

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

purchase of land treated unexplained ` 4,42,000 (xi) Total:- ` 8,06,23,989 4 Shree Agarwal Finance India Pvt. Ltd. ITA no.176/Nag./2016 The assessee being aggrieved by the additions so made by the Assessing Officer carried the matter before the first appellate authority. 4. During the appellate proceedings, the learned CIT(A) considering the facts of the case

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

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 of the Act, the assessee carried the matter before the first appellate authority. 5. Before the learned CIT(A), the assessee made following submissions to counter the addition made by the Assessing

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

ASSTT. C.I.T, CENTRAL CIR, -2(1), NAGPUR vs. M/S GUPTA GLOBAL RESOURCES LTD(EAELIER KNOWN AS GUPTA COALFIELDS 7 WASHHERIES LTD), NAGPUR

In the result, cross objections No

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

bogus entities through D.P. Sarda and other brokers to launder its unaccounted money in the form of share application money and share premium. 9. While perusing the order of the Ld. CIT(A) on the issue, we observe that the Ld. CIT(A) is silent regarding the discrepancies pointed out by the Assessing Officer. Without going any enquiry or remand

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 entities through D.P. Sarda and other brokers to launder its unaccounted money in the form of share application money and share premium. 9. While perusing the order of the Ld. CIT(A) on the issue, we observe that the Ld. CIT(A) is silent regarding the discrepancies pointed out by the Assessing Officer. Without going any enquiry or remand

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 entities through D.P. Sarda and other brokers to launder its unaccounted money in the form of share application money and share premium. 9. While perusing the order of the Ld. CIT(A) on the issue, we observe that the Ld. CIT(A) is silent regarding the discrepancies pointed out by the Assessing Officer. Without going any enquiry or remand

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 entities through D.P. Sarda and other brokers to launder its unaccounted money in the form of share application money and share premium. 9. While perusing the order of the Ld. CIT(A) on the issue, we observe that the Ld. CIT(A) is silent regarding the discrepancies pointed out by the Assessing Officer. Without going any enquiry or remand

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 entities through D.P. Sarda and other brokers to launder its unaccounted money in the form of share application money and share premium. 9. While perusing the order of the Ld. CIT(A) on the issue, we observe that the Ld. CIT(A) is silent regarding the discrepancies pointed out by the Assessing Officer. Without going any enquiry or remand

ASTT.COMMISSIONER OF INCOME TAX,CENTRAL CIR 2(3) R, NAGPUR vs. M GUPTA COALFIELDS & WASHERIES LTD., NAGPUR

In the result, cross objections No

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

bogus entities through D.P. Sarda and other brokers to launder its unaccounted money in the form of share application money and share premium. 9. While perusing the order of the Ld. CIT(A) on the issue, we observe that the Ld. CIT(A) is silent regarding the discrepancies pointed out by the Assessing Officer. Without going any enquiry or remand

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 entities through D.P. Sarda and other brokers to launder its unaccounted money in the form of share application money and share premium. 9. While perusing the order of the Ld. CIT(A) on the issue, we observe that the Ld. CIT(A) is silent regarding the discrepancies pointed out by the Assessing Officer. Without going any enquiry or remand

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 entities through D.P. Sarda and other brokers to launder its unaccounted money in the form of share application money and share premium. 9. While perusing the order of the Ld. CIT(A) on the issue, we observe that the Ld. CIT(A) is silent regarding the discrepancies pointed out by the Assessing Officer. Without going any enquiry or remand

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 entities through D.P. Sarda and other brokers to launder its unaccounted money in the form of share application money and share premium. 9. While perusing the order of the Ld. CIT(A) on the issue, we observe that the Ld. CIT(A) is silent regarding the discrepancies pointed out by the Assessing Officer. Without going any enquiry or remand

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 entities through D.P. Sarda and other brokers to launder its unaccounted money in the form of share application money and share premium. 9. While perusing the order of the Ld. CIT(A) on the issue, we observe that the Ld. CIT(A) is silent regarding the discrepancies pointed out by the Assessing Officer. Without going any enquiry or remand

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 entities through D.P. Sarda and other brokers to launder its unaccounted money in the form of share application money and share premium. 9. While perusing the order of the Ld. CIT(A) on the issue, we observe that the Ld. CIT(A) is silent regarding the discrepancies pointed out by the Assessing Officer. Without going any enquiry or remand