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

capital gain declared by assessee as such and accept the same. 3. I.T.A. No. 3801/Mum/2011 (ITAT, Mumbai) Ms. Farrah Marker –Vs- Income Tax Officer In this factual and legal matrix of the case, as discussed above, we find that the addition under section 68 of the Act made and confirmed by the authorities below to be unsustainable and therefore, directed

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

capital gain declared by assessee as such and accept the same.\n3. I.T.A. No. 3801/Mum/2011 (ITAT, Mumbai) Ms. Farrah Marker -Vs- Income Tax Officer\nIn this factual and legal matrix of the case, as discussed above, we find that the addition under section 68 of the Act made and confirmed by the authorities below to be unsustainable and therefore, directed

DY. C.I.T. CIR-.2, NAGPUR vs. SHRI GOVINDDAS GOVERDHAN DAGA, NAGPUR

In the result, cross-objection filed by the assessee stands dismissed

capital gain declared in return of income. The reasons recorded does not indicate belief of\nescapement of income for which notice u/s 148 of I.T. 1961 could be issued. In the absence of belief of escapement of income, no valid notice u/s 148 of I.T.\n1961 could be issued. The reason recorded does not indicate satisfaction as to\nbelief

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), NAGPUR vs. M/S. AAKAR HOTELS, NAGPUR

In the result, appeal of the revenue is dismissed

capital gain. The “partnership firm\" and \"partners\" are different\nentities as per Income Tax Act, 1961. The Assessing Officer has misdirected\nhimself to understand the basic premise of ownership and has gone to tax the\nincome in their own hands.\n11.\nFurther, we observe that the P.N.B. Construction Company approached the\nAssessee for purchase of the built-up area

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

Gain (LTCG). Please explain in detail all such modes employed by you for providing accommodation entries. Ans. Sir, The modes employed by me for providing accommodation entries against commission are as under: 1. Subscription to share capital at premium:- Sir, in such cases shares of the companies of clients/beneficiaries are subscribed at high premium by the companies floated/managed/controlled

M/S. DATTA DAIRY PRODUCTS PVT. LTD.,BULDHANA vs. ITO, WARD-1, , KHAMGAON

In the result, the appeal filed by the assessee is allowed

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

reassessment itself is liable to be cancelled. Secondly On merits the amount of part payment of Rs 22,00,000/- against agreement of sell of land, building, plant and machinery amounts to capital receipt and not a revenue receipt and hence the same is not taxable as income from other sources or otherwise/There is admittedly no capital gain

FATTESING PUNAJI DHABRE,NAGPUR vs. PRINCIPAL COMMISSIONER INCOME TAX – 2, NAGPUR

In the result, this appeal of assessee is allowed

Bench: Shri Pawan Singh & Shri Khettra Mohan Roy(Physical Hearing) Fattesing Punaji Dhabre Pcit – 2, Nagpur Plot No. 132, Chandan Nagar, Post Vs Aayakar Bhawan, Civil Lines, Hanuman Nagar, Nagpur, Maharashtra – 440001. Maharashtra – 440009. [Pan: Bacpd6505Q] Appellant / Assessee Respondent / Revenue Assessee By Shri Madhav Vichare, Ca Revenue By Shri Pankaj Kumar, Cit–Dr Date Of Hearing 17.02.2026 Date Of Pronouncement 24.02.2026 Order Under Section 254(1) Of Income Tax Act

reassessment proceeding, the assessing officer extensively examined the issue by issuing details show cause notice dated 20.11.2018. In the said show cause notice, the ld. AO required details of capital gain

ASSISTANT COMMISSIONER OF INCOME TAX CHANDRAPUR CIRCLE , CHANDRAPUR vs. M/S CHADDA TRANSPORT , CHANDRAPUR

Appeal is dismissed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.363/Nag/2019 िनधा"रण वष" / Assessment Year : 2009-10 The Assistant M/S.Chadda Transport, Commissioner Of V Kosara Road, Padoli, Income Tax, S Chandrapur, Chandrapur Circle, Maharashtra – 442401. Chandrapur. Pan: Aaafc8556F Appellant / Revenue Respondent / Assessee Cross Objection No.01/Nag/2020 (Arising Out Of Ita No.363/Nag/2019) िनधा"रण वष" / Assessment Year : 2009-10 M/S.Chadda Transport, The Assistant Kosara Road, Padoli, V Commissioner Of Income Chandrapur, S Tax, Maharashtra – 442401. Chandrapur Circle, Chandrapur. Pan: Aaafc8556F Appellant / Assessee Respondent / Revenue Assessee By Shri Mukesh Agrawal – Ar Revenue By Shri Abhay Y. Mrathe – Sr.Dr Date Of Hearing 30/11/2023 Date Of Pronouncement 27/12/2023 आदेश/ Order Per Dr. Dipak P. Ripote, Am:

capital gain taxable u/s 50 of the IT Act. 2. Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(Appeal) was right in ignoring the fact that additions made u/s 68 in the original assessment are altogether different from the addition made u/s 50 or 41(2) of the Income

ITO, WARD- 4,, CHANDRAPUR vs. M/S. K.S.R. TRANSPORT COMPANY,, CHANDRAPUR

Appeal is dismissed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.364/Nag/2019 िनधा"रण वष" / Assessment Year : 2009-10 The Assistant M/S.Ksr Transport, Commissioner Of Income V Padoli Chadda Building, Tax, Chandrapur Circle, S Kosara Road, Chandrapur. Chandrapur. Pan: Aabfk3222D Appellant / Revenue Respondent / Assessee Cross Objection No.02/Nag/2020 (Arising Out Of Ita No.364/Nag/2019) िनधा"रण वष" / Assessment Year : 2009-10 M/S.Ksr Transport, The Assistant Padoli Chadda Building, V Commissioner Of Income Kosara Road, Chandrapur. S Tax, Chandrapur Circle, Pan: Aabfk3222D Chandrapur. Appellant / Assessee Respondent / Revenue Assessee By Shri Mukesh Agrawal – Ar Revenue By Shri Abhay Y. Marathe – Sr.Dr Date Of Hearing 30/11/2023 Date Of Pronouncement 09/01/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Revenue Against The Order Of Ld.Cit(A)-2, Nagpur Dated 28.08.2019 Emanating From

capital gain taxable u/s 50 of the IT Act. 2. Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(Appeal) was right in ignoring the fact that additions made u/s 68 in the original assessment are altogether different from the addition made u/s 50 or 41(2) of the Income

SIMA RAVISINGH KACHHAWAH,UMRER vs. ITO WARD 3(4), NAGPUR

In the result, appeal filed by the assessee is allowed for statistical purposes

Bench: Shripavan Kumar Gadalesima Ravisingh Kachhawah, Girad Road, Om Nagar Umrer, ……………. Appellant Nagpur- 441203 Maharastra, Pan – Aqmpk2899K V/S Income Tax Officer ……………. Respondent Ward–3(4), Nagpur Assessee By: Shri.D.P. Lohiya.Ar Revenue By :Shri Surjit Kumar Saha.Sr.Dr

capital gain. The assessee had already disclosed the entire transaction value of sales, amounting to Rs. 10,25,470 plus Rs. 23,00,000 (stamp duty valuation), in the return of income filed in response to notice under Section 148, therefore the addition confirmed by the CIT(A) NFAC is illegal, invalid and bad in law. 8. On the facts

NAVIN MULINCHI SHALA,BHANDARA(MH) vs. I.T.O WARD -02, NAGPUR

In the result, the appeal of the assessee is dismissed

capital gains earned on sale of plot of land. After considering the submission of the assessee, the Assessing Officer made reassessment

M/S SHREENIWAS CONSTRUCTION,,NAGPUR vs. ITO-WARD-1(4),, NAGPUR

In the result, the appeal of the assessee is partly allowed

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No.152/Nag/2014 िनधा"रण वष" / Assessment Year : 2004–05 Shreeniwas Construction, 99, Nirmal Akash Apartment, Laxmi Nagar, Nagpur-440022. .......अपीलाथ" / Appellant Pan : Abzfs2149E बनाम / V/S. Ito, Ward–1(4), ……""यथ" / Respondent Nagpur. Assessee By : Shri V. S. Sinde, Ca Revenue By : Shri U. U. Kasar, Jt. Cit सुनवाई क" तारीख / Date Of Hearing : 29.03.2019 घोषणा क" तारीख / Date Of Pronouncement : 24.04.2019 आदेश / Order Per D. Karunakara Rao, Am: This Appeal Is Filed By The Assessee Against The Order Of Cit(A)-I, Nagpur Dated 23.12.2013 For The Assessment Year 2004-05. 2 2. Briefly Stated The Relevant Facts Include That The Assessee Is A Firm & Is Engaged In The Business Of Real Estate, Construction & Developers. The Assessee Filed The Return Of Income Declaring Total Income Of Rs.55,45,297/-. The Assessment Was Completed U/S 143(3) R.W.S. 147 Of The Act Making An Addition On Account Of Short Term Capital Gain Earned On Sale Of Plot As Discussed In Para 6 & Others Of The Assessment Order. The Assessing Officer Computed The Income Of The Assessee In Para 7 Of His Order & The Same Is Extracted Hereunder :- “7. Subject To The Discussion Mentioned In The Preceding Paras, The Total Income Of The Assessee Is Computed As Under :- Computation Of Income Income From Capital Gain As Per Return Nil Add- Short Term Capital Gain Of Sale Of Plot As Discussed 55,45,297/- In Preceding Paras Assessed Total Income (Rounded To) 55,45,297/-

capital gains on sale of plots as discussed in para 6 and others of his assessment order. The CIT(A) confirmed the same and dismissed the appeal of the assessee. 3 4. Aggrieved with the above orders of the Assessing Officer as well as the CIT(A), the assessee is in appeal before the Tribunal with the various grounds

SUBHASHCHAND CHANDAK (HUF),NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, NAGPUR

In the result, appeal filed by the assessee is dismissed

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

reassessment u/s 147 initiated, cease to exist as per appeal order, whether additions made on other grounds will be deleted suo-moto or whether same has to be argued separately before appellate forum for its deletion. 6. That, the addition of Rs.2,00,000/- on account of deposit in passbook treated as income of the assessee u/s 68 is against

VIKAS GUPTA ,INDORE vs. PR. COMMISSIONER OF INCOME TAX (CENTRAL), NAGPUR, NAGPUR

In the result, assessee’s appeal stands allowed

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

capital gain assessable in their hands. Those returns have been accepted under section 143(1) of the Income Tax Act. The assessments have attained finality. No notice under section 143(2) for scrutinizing the returns have been issued upon the assessee before the search carried out. Even the time limit for issuance of such notice have already been expired before

DY. COMMISSIONER OF INCOME TAX, CIRCLE-3, NAGPUR, NAGPUR vs. VINODKUMAR RAJENDRALAL KOCHHAR, KAMPTEE

In the result, the appeal filed by the department is dismissed

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

Gains and Income from other sources & he had been regularly filing his return of income for the last 5 decades. (iii) During the captioned assessment year, the appellant had opted for computation of income U/s. 44AD in respect of his business activity and while filing online return of Income u/s. 139(1) for AY 2016-17, PART A-BS- Balance

A,C.I.T. CENTRAL CIR.- 2(2), NAGPUR vs. SHRI DHARAMPAL R.AGRAWAL, NAGPUR

In the result, Revenue’s appeal being ITA no

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

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under Section 132 or requisition under Section 132A of the Act. 1961. However, the completed/unabated assessments can be re-opened

DY. C.I.T. CENTRAL CIR2(2), NAGPUR vs. M/S SHREE AGRAWAL COAL INDIA PVT. LTD.,, NAGPUR

In the result, Revenue’s appeal being ITA no

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

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under Section 132 or requisition under Section 132A of the Act. 1961. However, the completed/unabated assessments can be re-opened

FAIZ ZAKIR VALI,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(1), NAGPUR

In the result, appeal filed by the assessee is allowed

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

capital gains on sale of land for the year 2010-11 by holding the land to be non–agricultural. Aggrieved by the assessment order, the assessee filed appeal before the learned CIT(A). 5. The learned CIT(A), vide his impugned order, sustained the additions made by the Assessing Officer both on legality as well as on merits. Aggrieved