PRECISION COMPONENT HIGHTECH LTD.,NAGPUR vs. ACIT CENTRAL CIRCLE 2(2), NAGPUR

In the result, assessee’s appeal is allowed as above for all the seven years

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

127 of the Act was passed by the learned PCIT–2, Nagpur, on 07/06/2018, and the case was centralized with the DCIT/ACiT, Central Circle–2(2), Nagpur. 6. During the search and seizure action under section 132 of the Act, in the case of M/s.Techno Precision Engineers Pvt. Ltd., it was noticed that Precision Component Hightech Ltd. ITA no.91

PRECISION COMPONENT HIGHTECH LTD,NAGPUR vs. ACIT CENTRAL CIRCLE 2(2), NAGPUR

In the result, assessee’s appeal is allowed as above for all the seven years

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

127 of the Act was passed by the learned PCIT–2, Nagpur, on 07/06/2018, and the case was centralized with the DCIT/ACiT, Central Circle–2(2), Nagpur. 6. During the search and seizure action under section 132 of the Act, in the case of M/s.Techno Precision Engineers Pvt. Ltd., it was noticed that Precision Component Hightech Ltd. ITA no.91

PRECISION COMPONENT HIGHTECH LTD,NAGPUR vs. ACIT CENTRAL CIRCLE 2(2), NAGPUR

In the result, assessee’s appeal is allowed as above for all the seven years

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

127 of the Act was passed by the learned PCIT–2, Nagpur, on 07/06/2018, and the case was centralized with the DCIT/ACiT, Central Circle–2(2), Nagpur. 6. During the search and seizure action under section 132 of the Act, in the case of M/s.Techno Precision Engineers Pvt. Ltd., it was noticed that Precision Component Hightech Ltd. ITA no.91

PRECISION COMPONENT HIGHTECH LTD,NAGPUR vs. ACIT CENTRAL CIRCLE 2(2), NAGPUR

In the result, assessee’s appeal is allowed as above for all the seven years

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

127 of the Act was passed by the learned PCIT–2, Nagpur, on 07/06/2018, and the case was centralized with the DCIT/ACiT, Central Circle–2(2), Nagpur. 6. During the search and seizure action under section 132 of the Act, in the case of M/s.Techno Precision Engineers Pvt. Ltd., it was noticed that Precision Component Hightech Ltd. ITA no.91

PRECISION COMPONENT HIGHTECH LTD,NAGPUR vs. ACIT CENTRAL CIRCLE 2(2), NAGPUR

In the result, assessee’s appeal is allowed as above for all the seven years

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

127 of the Act was passed by the learned PCIT–2, Nagpur, on 07/06/2018, and the case was centralized with the DCIT/ACiT, Central Circle–2(2), Nagpur. 6. During the search and seizure action under section 132 of the Act, in the case of M/s.Techno Precision Engineers Pvt. Ltd., it was noticed that Precision Component Hightech Ltd. ITA no.91

PRECISION COMPONENT HIGHTECH LTD.,NAGPUR vs. ACIT CENTRAL CIRCLE 2(2), NAGPUR

In the result, assessee’s appeal is allowed as above for all the seven years

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

127 of the Act was passed by the learned PCIT–2, Nagpur, on 07/06/2018, and the case was centralized with the DCIT/ACiT, Central Circle–2(2), Nagpur. 6. During the search and seizure action under section 132 of the Act, in the case of M/s.Techno Precision Engineers Pvt. Ltd., it was noticed that Precision Component Hightech Ltd. ITA no.91

PRECISION COMPONENT HIGHTECH LTD.,NAGPUR vs. ACIT CENTRAL CIRCLE 2(2), NAGPUR

In the result, assessee’s appeal is allowed as above for all the seven years

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

127 of the Act was passed by the learned PCIT–2, Nagpur, on 07/06/2018, and the case was centralized with the DCIT/ACiT, Central Circle–2(2), Nagpur. 6. During the search and seizure action under section 132 of the Act, in the case of M/s.Techno Precision Engineers Pvt. Ltd., it was noticed that Precision Component Hightech Ltd. ITA no.91

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-2(1), NAGPUR vs. M/S. METROCITY HOMES, NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

capital account of Shri Prashant Bongirwar, the common partner in both the firms. Hence, no addition ought to have been 9 M/s. Metrocity Homes A.Y. 2017–18 made on account of unexplained expenditure by the assessee. The assessee had mentioned the same during the assessment proceedings but had not been considered by the learned A.O while passing the assessment order

SHRI SANJAY DHANRAJ JAIN,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), NAGPUR

gains and interest etc. The return of income u/s. 139(1)\nwas filed on 17-02-2012 declaring total income of Rs. 10,36,730/-. Intimation\nu/s. 143(1) was issued on 7-6-2012 accepting the returned income. A search\naction u/s. 132 of the Income Tax Act, 1961 was conducted on 26-7-2016 in\nthe case

SHRI SANJAY DHANRAJ JAIN,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), NAGPUR

In the result, assessee' appeal for A

gains and interest etc. The return of income u/s. 139(1) was filed on 17-02-2012 declaring total income of Rs. 10,36,730/-. Intimation u/s. 143(1) was issued on 7-6-2012 accepting the returned income. A search action u/s. 132 of the Income Tax Act, 1961 was conducted on 26-7-2016 in the case

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

127 of paper book. iv. So far as the bank statement of Aadhar Ventures India Limited showing the transfer of funds is concerned, the assessee encloses herewith the copy of bank statement of Aadhar Ventures India Limited alongwith Copy of account of Aadhar Ventures India Limited which is on Page-128 of paper book. v. The assessee respectfully submits that

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

gain. Therefore such an advance was clearly given by the assessee for the purpose of commercial expediency. • 4.4 As far as interest expenses vis-a- vis section 57 is concerned. The assessee wishes to submit that, the section 57(iii), lays down 17 Ravindra Madanlal Khandelwal ITA no.375/Nag./2024 following conditions for claim of expenditure. o The expenditure must have

ATUL MANOHARRAO YAMSANWAR,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE 2(1), NAGPUR

In the result, all the appeals filed by the assessee are allowed and all\nthe appeals filed by the Revenue are dismissed

127 of the Act, after which the assessments were\nconcluded. There is no mention of this important fact of transfer of\ncases from ACIT-1(1) to ACIT-2(1) in the Affidavits. The officers bluntly\nmisrepresent that the case was discussed on real time basis with the\nACIT-2(1) only, when, in fact, the assessee attended and submitted

ATUL MANOHARRAO YAMSANWAR,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE 2(1), NAGPUR

127 of the Act, after which the assessments were concluded. There is no mention of this important fact of transfer of cases from ACIT-1(1) to ACIT-2(1) in the Affidavits. The officers bluntly misrepresent that the case was discussed on real time basis with the ACIT-2(1) only, when, in fact, the assessee attended and submitted

ATUL MANOHARRAO YAMSANWAR,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE 2(1), NAGPUR

In the result, all the appeals filed by the assessee are allowed and all\nthe appeals filed by the Revenue are dismissed

127 of the Act, after which the assessments were\nconcluded. There is no mention of this important fact of transfer of\ncases from ACIT-1(1) to ACIT-2(1) in the Affidavits. The officers bluntly\nmisrepresent that the case was discussed on real time basis with the\nACIT-2(1) only, when, in fact, the assessee attended and submitted

UMESH SADASHIV THAKRE ,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(1), NAGPUR

127 of the Act, after which the assessments were concluded. There is no mention of this important fact of transfer of cases from ACIT-1(1) to ACIT-2(1) in the Affidavits. The officers bluntly misrepresent that the case was discussed on real time basis with the ACIT-2(1) only, when, in fact, the assessee attended and submitted

YRCE EDUCATE PVT. LTD,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(1), NAGPUR

In the result, all the appeals filed by the assessee are allowed and all\nthe appeals filed by the Revenue are dismissed

127 of the Act, after which the assessments were\nconcluded. There is no mention of this important fact of transfer of\ncases from ACIT-1(1) to ACIT-2(1) in the Affidavits. The officers bluntly\nmisrepresent that the case was discussed on real time basis with the\nACIT-2(1) only, when, in fact, the assessee attended and submitted

YRCE EDUCATE PVT. LTD,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(1), NAGPUR

127 of the Act, after which the assessments were\nconcluded. There is no mention of this important fact of transfer of\ncases from ACIT-1(1) to ACIT-2(1) in the Affidavits. The officers bluntly\nmisrepresent that the case was discussed on real time basis with the\nACIT-2(1) only, when, in fact, the assessee attended and submitted