M/S. HARIHAR INFRASTUCTURE DEVELOPMENT CORPORATION LTD.,,NAGPUR vs. THE DY.CIT, CIRCLE- 1,, NAGPUR

In the result, appeal of the assessee is partly allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita No. 60/Nag/2015 "नधा"रण वष" / Assessment Year : 2010-11 M/S. Harihar Infrastructure Development Corporation Ltd.; G-3, Amar Palace, Opp. Patwardhan Ground, Dhantoli, Nagpur-12. Pan : Aabch9888H .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax, Circle-1, Nagpur. ……""यथ" / Respondent Assessee By : Shri S. Shriram, Ar Revenue By : Shri Pradeep Headoo, Dr

gain on sale of agricultural land is exempt u/s.2(1A) of I.T.Act, 1961. 3. The addition made by the AO at Rs.31,45,251/- in the assessment framed as business income is unjustified, unwarranted and bad in law. 3 M/s. Harihar Infrastructure Development Corporation Ltd. Vs. DCIT, Circle-1, Nagpur 4. In the facts and circumstances of the case

SHRI VISHWAKARAMA JEWELLERS ,AKOLA vs. DCIT AKOLA CIRCLE, AKOLA

In the result, assessee’s appeal is allowed

Bench: Shri Narender Kumar Choudhry & Shri K.M. Roy, Accountant, Member

capital gains' and (v) 'income from other sources cannot at all be adjusted against unexplained investment or expenditure. What is necessary as per Hon'ble Gujarat High Court is that source of acquisition of asset or expenditure should be clearly identifiable. In the case before Hon'ble Gujarat High Court the source of gold confiscated was not identifiable and hence

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

In the result, appeal of the assessee is allowed

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, it is submitted that observation of the CIT appeal that assessee failed to discharge his onus is not correct. 27. Further the CIT appeal confirmed the action of AD under Section

RAVINDRA KHANDELWAL,AKOLA vs. ASSISTANT COMMISSIONER OF INCOME TAX - CIRCLE AKOLA , 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

104 in personal capacity Ledger confirmation of Nitin Khandelwal for Ravindra 10. 105 Khandelwal in personal capacity Ledger confirmation of Nitil Khandelwal for Khandelwal 11. 106 Jewelers 13. He drew our attention to the examination of issues and decisions noted by the learned CIT(A) in its order. The learned Counsel made following submissions in support of the claims

ITO, WARD-6(1),, NAGPUR vs. THE VIDARBHA PREMIER CO-OP. HOUSING SOCIETY,, NAGPUR

In the result these appeals by the assessee and revenue stand allowed for statistical purposes

Bench: Shri Shamim Yahya & Shri Ram Lal Negi..

gain is there, it is shared by them in the form of dividend. Hence, such income is exempt. But the moment surplus fund it investd in banks, it is income from other sources as held by the Hon’ble Supreme Court in M/s. The Totgars’ Cooperative Sales Society Ltd. vs. ITO 322 ITR 283 (SC). Even the exemption

THE VIDHARBHA PREMIER CO-OPERATIVE HOUSING SOCIETY LTD,,NAGPUR vs. TAX RECOVERY OFFICER, RANGE-6, NAGPUR

In the result these appeals by the assessee and revenue stand allowed for statistical purposes

Bench: Shri Shamim Yahya & Shri Ram Lal Negi..

gain is there, it is shared by them in the form of dividend. Hence, such income is exempt. But the moment surplus fund it investd in banks, it is income from other sources as held by the Hon’ble Supreme Court in M/s. The Totgars’ Cooperative Sales Society Ltd. vs. ITO 322 ITR 283 (SC). Even the exemption

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

section 153D dated 29/09/2021 is in mechanical/routine manner without application of mind by Addl.CIT, which is merely a formality, an empty ritual and as such it leads to flagrant violation of the rules of law. 45. The third contention of the learned A.R. is that while granting such mechanical approval dated 29/09/2021 under section 153D for the assessment year

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

section 153D dated 29/09/2021 is in mechanical/routine manner without application of mind by Addl.CIT, which is merely a formality, an empty ritual and as such it leads to flagrant violation of the rules of law. 45. The third contention of the learned A.R. is that while granting such mechanical approval dated 29/09/2021 under section 153D for the assessment year

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

section 153D dated 29/09/2021 is in mechanical/routine manner without application of mind by Addl.CIT, which is merely a formality, an empty ritual and as such it leads to flagrant violation of the rules of law. 45. The third contention of the learned A.R. is that while granting such mechanical approval dated 29/09/2021 under section 153D for the assessment year

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

section 153D dated 29/09/2021 is in mechanical/routine manner without application of mind by Addl.CIT, which is merely a formality, an empty ritual and as such it leads to flagrant violation of the rules of law. 45. The third contention of the learned A.R. is that while granting such mechanical approval dated 29/09/2021 under section 153D for the assessment year

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

section 153D dated 29/09/2021 is in mechanical/routine manner without application of mind by Addl.CIT, which is merely a formality, an empty ritual and as such it leads to flagrant violation of the rules of law. 45. The third contention of the learned A.R. is that while granting such mechanical approval dated 29/09/2021 under section 153D for the assessment year

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

section 153D dated 29/09/2021 is in mechanical/routine manner without application of mind by Addl.CIT, which is merely a formality, an empty ritual and as such it leads to flagrant violation of the rules of law. 45. The third contention of the learned A.R. is that while granting such mechanical approval dated 29/09/2021 under section 153D for the assessment year

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

capital assets and thereby loosing gradually investment caused by wear and tear, and would need to replace the same by having lost value fully over a period of time ... ". Following said Supreme Court decision it was held by the Kerala High Court in CIT Vs. Parthas Trust (2001) 249 ITR 120 Kerala that assessee was entitled to depreciation

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

capital assets and thereby loosing gradually investment caused by wear and tear, and would need to replace the same by having lost value fully over a period of time ... ". Following said Supreme Court decision it was held by the Kerala High Court in CIT Vs. Parthas Trust (2001) 249 ITR 120 Kerala that assessee was entitled to depreciation

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

capital assets and thereby loosing gradually investment caused by wear and tear, and would need to replace the same by having lost value fully over a period of time ... ". Following said Supreme Court decision it was held by the Kerala High Court in CIT Vs. Parthas Trust (2001) 249 ITR 120 Kerala that assessee was entitled to depreciation

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

capital assets and thereby loosing gradually investment caused by wear and tear, and would need to replace the same by having lost value fully over a period of time ... ". Following said Supreme Court decision it was held by the Kerala High Court in CIT Vs. Parthas Trust (2001) 249 ITR 120 Kerala that assessee was entitled to depreciation

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

capital assets and thereby loosing gradually investment caused by wear and tear, and would need to replace the same by having lost value fully over a period of time ... ". Following said Supreme Court decision it was held by the Kerala High Court in CIT Vs. Parthas Trust (2001) 249 ITR 120 Kerala that assessee was entitled to depreciation

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

capital assets and thereby loosing gradually investment caused by wear and tear, and would need to replace the same by having lost value fully over a period of time ... ". Following said Supreme Court decision it was held by the Kerala High Court in CIT Vs. Parthas Trust (2001) 249 ITR 120 Kerala that assessee was entitled to depreciation

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

capital assets and thereby loosing gradually investment caused by wear and tear, and would need to replace the same by having lost value fully over a period of time ... ". Following said Supreme Court decision it was held by the Kerala High Court in CIT Vs. Parthas Trust (2001) 249 ITR 120 Kerala that assessee was entitled to depreciation