UDAYKUMAR VYAS,NAGPUR vs. ITO WARD 1 (5), BSNL RTTC BUILDING

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh & Shri Khettra Mohan Royudaykumar Vyas, Ito, Ward – 1(5) Flat No. 402, Lepresting Vs Nagpur Apartment, Plot No. 105- 106, Ramdaspeth, Nagpur. Pan : Aarpv 4578 K Assessee Respondent

section 50C is not applicable. 2. Without prejudice to above, the computation of capital gain done by AO and confirmed by CIT(A) is incorrect, since while calculating the capital gain on sale of land to M/s Vedbhumi Builders, the cost of acquisition of different land is deducted from the sale price. 3. The appellant craves leave to add, alter

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

ASSTT. CIT, CIR- 7, NAGPUR vs. M/S. NEWQUEST CORPORATION LTD., CHANDRAPUR

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year: 2008-2009 The Acit Vs. M/S.Newquest Corporation Ltd. Circle-7, (Now Known As M/S. Avantha Nagpur Holding Ltd. Ballalrpur Paper Mills P.O. Ballarpur, Distt. Chandrapur Pan No.:Aabcb 6134 E Appellant Respondent

Section 30 of the I.T. Act. Taking into 30 ACIT, CIRCLE-7, NAGPUR VS M/s. Newquest Corporation Ltd. (Now known as Avantha Holdings Ltd) consideration the above facts and circumstances of the case, we find that the Department has not filed any supporting evidence/ rebuttal against the written submission ld. AR of the assessee except arguing that

DILIP JAIKUMAR CHANDAK,AMRAVATI vs. ITO WARD-1, AMRAVATI

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

Bench: Justice (Retd.) C.V. Bhadang & Shri R.K. Panda

section 155(15) by adopting the fair market value determined by the DVO and reduced the indexed cost of acquisition of the property from ` 86,37,190 adopted by the assessee to ` 11,35,050 resulting in addition of ` 75,02,140 on account of long-term capital gains

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

155 To 161 of the Paper Book and Modification agreement alongwith the submission which is on Page-98 To 100 & 162 To 164 of the Paper Book. In view of the above there is no question of share application money as well as involving of Section 68 is applicable in the case of the appellant. On the above mentioned preposition

TAJSHREE AUTOWHEELS PRIVATE LIMITED,NAGPUR vs. ACIT CIRCLE-4, NAGPUR

In the result, assessee’s appeal is allowed for statistical purposes

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

155 of Finance Minister's Budget 2012-13 Speech clarifying scope of provisions of section 56(2)(viib). The finance minister clarified in his speech above provisions were introduced as a series of measures to deter the generation and use of unaccounted money by increasing the onus of proof on closely held companies for funds received from shareholders as well

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..

capital of Rs.6 crore and deposit of RS.285 crore and having 1,21,855 members of the society. Some of them give deposit and some ot them get credit facility for house property. The proposed aeniel u/s 80P(2)(a)(i) would seriously frustrate the teqisletive intention for which the said subsection is on record for decades of the' coming

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..

capital of Rs.6 crore and deposit of RS.285 crore and having 1,21,855 members of the society. Some of them give deposit and some ot them get credit facility for house property. The proposed aeniel u/s 80P(2)(a)(i) would seriously frustrate the teqisletive intention for which the said subsection is on record for decades of the' coming

RADHEY MINERALS LTD,,NAGPUR vs. THE ACIT, CENTRAL-CIRCLE-2(3),, NAGPUR

In the result these appeals filed by the assessee stand allowed

Bench: Shri Shamim Yahya & Shri Ram Lal Negi.. S.No.

capital of the regular business of the assessee. (5) That the Assessing Officer erred in law and on facts in charging interest under section 234A, 234B and 234C and the learned C.I.T.(A) has erred in confirming the action of the Assessing Officer. 2. Since the facts are identical, we refer to the facts and figures of assessment year

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), NAGPUR vs. M/S. RADHA RADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

155 of the paper book, the DVO has clearly mentioned, “having considered the documents furnished by the Assessing Officer and the assessee and having taken into consideration all relevant material gathered, I estimate the cost of investment in property i.e. ‘Vrindavan’ 111 acre project near VCA Cricket Stadium on Wardha Road, Jamtha Nagpur (M.H.). Thus, it is crystal clear that

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1),NAGPUR, NAGPUR vs. M/S. RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

155 of the paper book, the DVO has clearly mentioned, “having considered the documents furnished by the Assessing Officer and the assessee and having taken into consideration all relevant material gathered, I estimate the cost of investment in property i.e. ‘Vrindavan’ 111 acre project near VCA Cricket Stadium on Wardha Road, Jamtha Nagpur (M.H.). Thus, it is crystal clear that

ASSTT.COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(1), NAGPUR vs. M/S RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

155 of the paper book, the DVO has clearly mentioned, “having considered the documents furnished by the Assessing Officer and the assessee and having taken into consideration all relevant material gathered, I estimate the cost of investment in property i.e. ‘Vrindavan’ 111 acre project near VCA Cricket Stadium on Wardha Road, Jamtha Nagpur (M.H.). Thus, it is crystal clear that

ASSTT.COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(1), NAGPUR vs. M/S RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

155 of the paper book, the DVO has clearly mentioned, “having considered the documents furnished by the Assessing Officer and the assessee and having taken into consideration all relevant material gathered, I estimate the cost of investment in property i.e. ‘Vrindavan’ 111 acre project near VCA Cricket Stadium on Wardha Road, Jamtha Nagpur (M.H.). Thus, it is crystal clear that

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), NAGPUR vs. M/S. RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

155 of the paper book, the DVO has clearly mentioned, “having considered the documents furnished by the Assessing Officer and the assessee and having taken into consideration all relevant material gathered, I estimate the cost of investment in property i.e. ‘Vrindavan’ 111 acre project near VCA Cricket Stadium on Wardha Road, Jamtha Nagpur (M.H.). Thus, it is crystal clear that

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), NAGPUR vs. M/S. RADHA MADHAV DEVELOPER , NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

155 of the paper book, the DVO has clearly mentioned, “having considered the documents furnished by the Assessing Officer and the assessee and having taken into consideration all relevant material gathered, I estimate the cost of investment in property i.e. ‘Vrindavan’ 111 acre project near VCA Cricket Stadium on Wardha Road, Jamtha Nagpur (M.H.). Thus, it is crystal clear that

M/S MAHESHWARI COAL BENEFICATION& INFRASTRUCTURE P. LTD,BILASPUR vs. DCIT CENTRAL CIRCLE-1(1), NAGPUR

In the result, appeals for the assessment year 2009–10 to 2013–14 are partly allowed

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

155 (SC) concluded that- “4. Notice was issued by the concerned jurisdictional AOs to the said assessees who contended that the period for which they were required to file returns, commenced only from the date the materials were forwarded to their AOs. The Revenue, on the other hand, urged that the date (relatable to the period for which 6 years

M/S MAHESHWARI COAL BENEFICATION& INFRASTRUCTURE P. LTD,BILASPUR vs. DCIT CENTRAL CIRCLE-1(1), NAGPUR

In the result, appeals for the assessment year 2009–10 to 2013–14 are partly allowed

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

155 (SC) concluded that- “4. Notice was issued by the concerned jurisdictional AOs to the said assessees who contended that the period for which they were required to file returns, commenced only from the date the materials were forwarded to their AOs. The Revenue, on the other hand, urged that the date (relatable to the period for which 6 years

M/S MAHESHWARI COAL BENEFICATION& INFRASTRUCTURE P. LTD,BILASPUR vs. DCIT CENTRAL CIRCLE-1(1), NAGPUR

In the result, appeals for the assessment year 2009–10 to 2013–14 are partly allowed

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

155 (SC) concluded that- “4. Notice was issued by the concerned jurisdictional AOs to the said assessees who contended that the period for which they were required to file returns, commenced only from the date the materials were forwarded to their AOs. The Revenue, on the other hand, urged that the date (relatable to the period for which 6 years