M/S. FATEMA SHOEB HUSSAIN,,NAGPUR vs. ITO, WARD- 2(4),, NAGPUR

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

section 54F of the Act was not allowable in view of the short term capital gain of sale of shares. This is an inadvertent mistake which will not change the conclusion, hence, re–opening is justified. Ground no.1, raised by the assessee is dismissed. Smt. Fatema Shoeb Hussain

MISS FATEMA SHOEB HUSSAIN,,NAGPUR vs. ITO, WARD- 2(4),, NAGPUR

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

section 54F of the Act was not allowable in view of the short term capital gain of sale of shares. This is an inadvertent mistake which will not change the conclusion, hence, re–opening is justified. Ground no.1, raised by the assessee is dismissed. Smt. Fatema Shoeb Hussain

M/S. FATEMA SHOEB HUSSAIN,,NAGPUR vs. ITO, WARD- 2(4),, NAGPUR

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

section 54F of the Act was not allowable in view of the short term capital gain of sale of shares. This is an inadvertent mistake which will not change the conclusion, hence, re–opening is justified. Ground no.1, raised by the assessee is dismissed. Smt. Fatema Shoeb Hussain

M/S. FATEMA SHOEB HUSSAIN,,NAGPUR vs. ITO, WARD- 2(4),, NAGPUR

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

section 54F of the Act was not allowable in view of the short term capital gain of sale of shares. This is an inadvertent mistake which will not change the conclusion, hence, re–opening is justified. Ground no.1, raised by the assessee is dismissed. Smt. Fatema Shoeb Hussain

M/S. FATEMA SHOEB HUSSAIN,,NAGPUR vs. ITO, WARD- 2(4),, NAGPUR

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

section 54F of the Act was not allowable in view of the short term capital gain of sale of shares. This is an inadvertent mistake which will not change the conclusion, hence, re–opening is justified. Ground no.1, raised by the assessee is dismissed. Smt. Fatema Shoeb Hussain

MISS FATEMA SHOEB HUSSAIN,,NAGPUR vs. ITO, WARD- 2(4),, NAGPUR

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

section 54F of the Act was not allowable in view of the short term capital gain of sale of shares. This is an inadvertent mistake which will not change the conclusion, hence, re–opening is justified. Ground no.1, raised by the assessee is dismissed. Smt. Fatema Shoeb Hussain

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)\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

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

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)\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

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

section 153A(1) read with „Expln-2‟; in absence of this, assessment made u/s153C would be invalid & is liable to be quashed; relied on Goldstone Cements Ltd (2023) (Gau HC); Fortune Vanijya (P) Ltd (2023) (Gau HC).” 40. In the appeal of the assessee bearing ITA No.111/Nag/ 2024, for the assessment year 2012-13 along with following additional ground

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

section 153A(1) read with „Expln-2‟; in absence of this, assessment made u/s153C would be invalid & is liable to be quashed; relied on Goldstone Cements Ltd (2023) (Gau HC); Fortune Vanijya (P) Ltd (2023) (Gau HC).” 40. In the appeal of the assessee bearing ITA No.111/Nag/ 2024, for the assessment year 2012-13 along with following additional ground

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

section 153A(1) read with „Expln-2‟; in absence of this, assessment made u/s153C would be invalid & is liable to be quashed; relied on Goldstone Cements Ltd (2023) (Gau HC); Fortune Vanijya (P) Ltd (2023) (Gau HC).” 40. In the appeal of the assessee bearing ITA No.111/Nag/ 2024, for the assessment year 2012-13 along with following additional ground

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

section 153A(1) read with „Expln-2‟; in absence of this, assessment made u/s153C would be invalid & is liable to be quashed; relied on Goldstone Cements Ltd (2023) (Gau HC); Fortune Vanijya (P) Ltd (2023) (Gau HC).” 40. In the appeal of the assessee bearing ITA No.111/Nag/ 2024, for the assessment year 2012-13 along with following additional ground

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

section 153A(1) read with „Expln-2‟; in absence of this, assessment made u/s153C would be invalid & is liable to be quashed; relied on Goldstone Cements Ltd (2023) (Gau HC); Fortune Vanijya (P) Ltd (2023) (Gau HC).” 40. In the appeal of the assessee bearing ITA No.111/Nag/ 2024, for the assessment year 2012-13 along with following additional ground

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