SANJAY GULABCHAND GUPTA,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX,CIRCLE-4, NAGPUR

In the result, appeal by the assessee stands dismissed

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

section 143(2) and 142(1) of the Income Tax Act, 1961 ("the Act") were issued. In response to various notices, assessee has duly complied the notices from time to time. 4. During the assessment year under consideration, the assessee had transferred an immovable property for sale consideration of ` 2,15,00,000, on 18/07/2016. The assessee had computed income

SHRI DEEPAK SURESH GADGE,,NAGPUR vs. DY. CIT, CIRCLE-1 , NAGPUR

In the result, appeal filed by the assessee partly allowed

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

Capital Gain Rs. 4,59,13,200/- Income tax Officer vide order under section 143(3) dated 21/03/2016 determined the income

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

section 10(38) were being misused by the beneficiaries of bogus long term capital gain and to avoid paying taxes and have also been forwarded the details of transactions entered into by the assessee. The learned assessing officer has not any provided the details forwarded by Investigation Wing, Kolkatta as well as statement of persons, whose statement were recorded during

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

section 10(38) were being misused by the beneficiaries of bogus long term capital gain and to avoid paying taxes and have also been forwarded the details of transactions entered into by the assessee. The learned assessing officer has not any provided the details forwarded by Investigation Wing, Kolkatta as well as statement of persons, whose statement were recorded during

JEETENDRA CHANDRAKANT NAYAK,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOM TAX(OSD), NAGPUR

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

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

143(3) of the Act on 31-12-2018, the learned assessing officer disallowed the claim of the assessee for deduction under section 54F of the Act against the capital gain

SHABBIR AHMED AHMED ALI,NAGPUR vs. NATIONAL E ASSESMENT CENTRY, DELHI

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

capital gain arising from transfer of residential property. 4. Facts in Brief:– In the present case, the assessee is an individual who filed his return of income for the year under consideration electronically on 30/08/2018, declaring total income at ` 17,040, and the said return of income was processed under section 143

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

143(3) was passed on 23.03.2015 and the total income was assessed at Rs.52,08,020/- 4 Dayal Cotspin Ltd. 2. As per information in hand, a search and seizure action u/s 132 of the Income Tax Act 1961 was conducted in the cases of Amrapali Group in October 2012. The said group had introduced capital of 100 crores

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

143(2) of the Act were also issued by the ACIT- 1(1) on various dates in the year 2020, which were duly attended by the assessee. The cases were handled by the ACIT-1(1) for good one year and then transferred to ACIT-2(1) vide order dated 22/01/2021 passed under section 127 of the Act, after which

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

143(2) of the Act were also issued by the ACIT- 1(1) on various dates in the year 2020, which were duly attended by the assessee. The cases were handled by the ACIT-1(1) for good one year and then transferred to ACIT-2(1) vide order dated 22/01/2021 passed under section 127 of the Act, after which

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 statement that you have sold\nshares of M/s M.V. Pvt Ltd. for total consideration of Rs. 16,45,46,955/- on\n31/12/2011. It is also noticed that the shares were purchased by you on\n31/12/2008 for value of Rs. 647,028/-\n3.\nIn this regard you are requested to submit following information regarding\nM/s

M/S SHREE TRADERS ,BULDHANA vs. ASSISTANT COMMISSIONER OF INCOME TAX, AKOLA CIRCLE, AKOLA

In the result, the appeal of assessee is dismissed

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

143(2) and 142(1) of the Act, the AO completed the assessment by determining the income of the assessee at Rs.1,71,61,882/- inter alia denying set off of carry forward business loss against the capital gain. The CIT(A) confirmed the same. Aggrieved by the order of CIT(A), the assessee is before us. 4. Heard both

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:

section 143(3) r.w.s. 147 dated 21.09.2016 for A.Y.2009-10. The grounds of appeal raised by the Revenue are as under : “1. Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(Appeals) erred in deleting the addition of Rs 2,90,22,977/- made by the AO as capital gain

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

section 143(3) r.w.s. 147 dated 21.09.2016 for A.Y.2009-10. The grounds of appeal raised by the Revenue are as under : “1.Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(Appeals) erred in deleting the addition of Rs 2,31,89,907/- made by the AO as capital gain

ACIT, CENTRAL CIRCLE -1(3), NAGPUR vs. SHRI ASHOK VASANTRAI TRIVEDI , NAGPUR

In the result, the appeal of Revenue is dismissed

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

section 2(47) of the Act are satisfied, by inferring so, such possession constitutes transfer u/s. 2(47) of the Act, determined Long Term Capital Gain in the hands of the assessee by determining total income of the assessee at Rs.3,19,26,123/- vide its order dated 14-12- 2017 passed u/s. 143

ACIT-CENTRAL CIRCLE -1(3), NAGPUR vs. SHRI AJAY VASANTRAI TRIVEDI , NAGPUR

In the result, the appeal of Revenue is dismissed

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

section 2(47) of the Act are satisfied, by inferring so, such possession constitutes transfer u/s. 2(47) of the Act, determined Long Term Capital Gain in the hands of the assessee by determining total income of the assessee at Rs.3,19,26,123/- vide its order dated 14-12- 2017 passed u/s. 143

ECONOMIC EXPLOSIVES LIMITED,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1 (2), NAGPUR

In the result, appeal for the assessment year 2018–19 filed by the assessee is partly allowed

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

gains which is not chargeable even as deemed income because of section 54E, cannot be brought to tax as part of the book profit under the Explanation to section 115J.” (underlined, bold and italics for emphasis) From the above finding of the Special Bench, it can be seen that the non- obstante will have overriding effect over the other section

ECONOMIC EXPLOSIVES LIMITED,NAGPUR vs. NATIONAL E ASSESSMENT CENTRE, NEW DELHI

In the result, appeal for the assessment year 2018–19 filed by the assessee is partly allowed

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

gains which is not chargeable even as deemed income because of section 54E, cannot be brought to tax as part of the book profit under the Explanation to section 115J.” (underlined, bold and italics for emphasis) From the above finding of the Special Bench, it can be seen that the non- obstante will have overriding effect over the other section

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