DCIT, CIRCLE-2, NAGPUR, NAGPUR vs. NARESH LAXMINARAYAN GROVER, NAGPUR

In the result, all these three appeals for the A

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

capital gain under section 111A @15%, the Assessing Officer is reclassifying the same to be taxed under section 68 r/w section

DCIT, CIRCLE-2, NAGPUR, NAGPUR vs. NARESH LAXMINARAYAN GROVER, NAGPUR

In the result, all these three appeals for the A

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

capital gain under section 111A @15%, the Assessing Officer is reclassifying the same to be taxed under section 68 r/w section

SUSHILA BHAURAO DESHMUKH,AMRAVATI vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, NAGPUR

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durgarao & Shrik.M. Roy, Accountant, Member

capital gain and deductions claimed u/s 80C; xi) Reply to ITO, Ward–2, Amravati dated 20/09/2018; xii) Copy of bank statements and working sheet to explain payment of cost of improvement; xiii) Copy of sample bills & ledger account; 7 SushilaBhauraoDeshmukh ITAno.76/Nag./2022 xiv) Notice for hearing dated 16/02/2022; xv) Assessment order u/s 143(3) r/w section 263 r/w section 144B

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

15,00,000, on 18/07/2016. The assessee had computed income from capital gains of ` 1,58,64,162, and claimed exemption under section

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 with consistent deduction towards indexed cost of acquisition for ` 40,09,499. Accordingly, grounds no.1 to 4, raised by the assessee are allowed. 12. Ground no.5, relates to charging of interest under section 234A, 234B and 234C of the Act. 13. Charging of interest being consequential and mandatory in nature, the Assessing Officer is directed to give consequential

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

gain transaction were long term capital transaction and the assessee has claimed exemption under section 10(38) of Income Tax Act, 1961 (“the Act”). 5 Shri Nandkumar Khatumal Harchandani ITA no.410/Nag./2019 A.Y. 2014–15

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

capital gain and to avoid paying the taxes, which is not related in the case of the assessee. The Assessing Officer relied on statement recorded behind the back of the assessee and no opportunity to cross examine has been granted to the assessee. The Assessing Officer has not accepted the contention of the assessee and made addition under section

RAJESH SARDA,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), NAGPUR

In the result, the addition of undisclosed income under section 68 is deleted

Bench: Shri Pawan Singh & Shri Khettra Mohan Roy(Physical Hearing) Rajesh Sarda, Acit, Central Circle – 2(2), Nagpur 14, Daga Lay–Out, Ambazari Road, Vs Aayakar Bhawan, Civil Lines, Nagpur – 440033. Maharashtra – 440001. [Pan: Ahaps4925M] Appellant / Assessee Respondent / Revenue Assessee By Shri K.P. Dewani, Advocate Revenue By Shri Pankaj Kumar, Cit–Dr Date Of Hearing 16.02.2026 Date Of Pronouncement 24.02.2026 Order Under Section 254(1) Of Income Tax Act

capital gain under section 10(38) could not be bogus in absence of any contrary evidence brought on record. The aforesaid decision of Hon’ble Gujarat High Court has been upheld by Hon’ble Supreme Court in PCIT Vs Divyaben Prafulchandra Pramar (2025) 172 taxmann.com 572 (SC). 15

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

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

15,470 + regi. Charges ` 930 + Franking Charges ` 10,080 = ` 10,34,480 x 272/129) 21,81,229 (Coat as on 25/04/2007 – ` 10,80,000) Expenses on Transfer 1,61,000 Capital Gain 57,07,771 Less: Exemption: Under section

NARESH VASANTRAI TRIVEDI,NAGPUR vs. ACIT, CENTRAL CIRCLE 1(3), NAGPUR

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

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

capital gain in accordance with law. 21. In the result, appeal filed by the assessee for the assessment year 2011–12 is partly allowed. Naresh Vasantrai Trivedi ITA no.108/Nag./2021 ITA no.107/Nag./2021 Assessee’s Appeal – A.Y. 2013–14 22. The assessee has raised following grounds:– “1) On the facts and circumstances of the case and in law, the entire

NARESH VASANTRAI TRIVEDI,NAGPUR vs. ACIT, CENTRAL CIRCLE 1(3), NAGPUR

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

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

capital gain in accordance with law. 21. In the result, appeal filed by the assessee for the assessment year 2011–12 is partly allowed. Naresh Vasantrai Trivedi ITA no.108/Nag./2021 ITA no.107/Nag./2021 Assessee’s Appeal – A.Y. 2013–14 22. The assessee has raised following grounds:– “1) On the facts and circumstances of the case and in law, the entire

NARESH VASANTRAJ TRIVEDI,NAGPUR vs. ACIT, CENTRAL CIRCLE 1(3), NAGPUR

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

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

capital gain in accordance with law. 21. In the result, appeal filed by the assessee for the assessment year 2011–12 is partly allowed. Naresh Vasantrai Trivedi ITA no.108/Nag./2021 ITA no.107/Nag./2021 Assessee’s Appeal – A.Y. 2013–14 22. The assessee has raised following grounds:– “1) On the facts and circumstances of the case and in law, the entire

NARESH VASANTRAI TRIVEDI,NAGPUR vs. ACIT, CENTRAL CIRCLE 1(3), NAGPUR

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

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

capital gain in accordance with law. 21. In the result, appeal filed by the assessee for the assessment year 2011–12 is partly allowed. Naresh Vasantrai Trivedi ITA no.108/Nag./2021 ITA no.107/Nag./2021 Assessee’s Appeal – A.Y. 2013–14 22. The assessee has raised following grounds:– “1) On the facts and circumstances of the case and in law, the entire

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

Capital Gain is to be assessed, whether it is in the A.Y. 2012-13 being the year in which the modified Joint Development Agreement executed or in the year where the assessee received his share in the form of constructed area which was offered to tax in A.Y. 2018-19. On perusal of the modified Joint Development Agreement as placed

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

Capital Gain is to be assessed, whether it is in the A.Y. 2012-13 being the year in which the modified Joint Development Agreement executed or in the year where the assessee received his share in the form of constructed area which was offered to tax in A.Y. 2018-19. On perusal of the modified Joint Development Agreement as placed

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 from Business and Profession" shall be computed in accordance with either cash system of accounting or mercantile system of accounting. As per sub section (1) of section 128 of the 2013 Act a company is compulsorily required to follow mercantile system of accounting. The Appellant being a company is compulsory required to follow mercantile system of accounting with respect

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 from Business and Profession" shall be computed in accordance with either cash system of accounting or mercantile system of accounting. As per sub section (1) of section 128 of the 2013 Act a company is compulsorily required to follow mercantile system of accounting. The Appellant being a company is compulsory required to follow mercantile system of accounting with respect

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

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

15,78,88.855/-\n4.\nThe assessee, had applied for withdrawal of sum deposited in \"Capital Gain\nScheme\", vide letter dated NIL, submitted on 09/05/2013. The assessee also\nfiled a grievance petition to the then the CIT-I, Nagpur, who in turn forwarded\nthe same to this office on 27/05/2013. The assessee was permitted to\nwithdraw the amount vide this office