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

section 49(1)(ii)(b) of the Act conspicuously omits the expression ‗otherwise‘ though it covers ‗distribution of assets on the dissolution of firm‘. In other words, the deeming provision, whereby the cost of previous owner is taken as cost of acquisition by the person who acquired the property, is not made applicable to cases where a partner received property

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

35,18,915, under the normal provisions of Minimum Alternate Tax. 5. The case was selected for complete scrutiny under CASS. Notice under section 143(2) of the Act was issued and served on ITBA. Notice under section 142(1) of the Act was issued on 06/06/2019. In response to notice issued, the details called for were uploaded. The assessee

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

35,18,915, under the normal provisions of Minimum Alternate Tax. 5. The case was selected for complete scrutiny under CASS. Notice under section 143(2) of the Act was issued and served on ITBA. Notice under section 142(1) of the Act was issued on 06/06/2019. In response to notice issued, the details called for were uploaded. The assessee

DY. COMMISSIONER OF INCOME TAX- CENTRAL-CIRCLE-2(1), NAGPUR, NAGPUR vs. JAYMAHAKALI SHIKSHAN SANSTHA, WARDHA

In the result, Revenue’s appeal for A

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

ii). 12. Whenever the exemption under section 11 is to be denied the income of the trust is to be computed as per the specific provisions of section 164(2) provided in the statute, which are reproduced below for ready reference:– ―164(2) In the case of relevant income which is derived from property held under trust wholly for charitable

DY. COMMISSIONER OF INCOME TAX- CENTRAL-CIRCLE-2(1), NAGPUR, NAGPUR vs. JAYMAHAKALI SHIKSHAN SANSTHA, WARDHA

In the result, Revenue’s appeal for A

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

ii). 12. Whenever the exemption under section 11 is to be denied the income of the trust is to be computed as per the specific provisions of section 164(2) provided in the statute, which are reproduced below for ready reference:– ―164(2) In the case of relevant income which is derived from property held under trust wholly for charitable

DY. COMMISSIONER OF INCOME TAX- CENTRAL-CIRCLE-2 (1), NAGPUR, NAGPUR vs. JAYMAHAKALI SHIKSHAN SANSTHA, WARDHA

In the result, Revenue’s appeal for A

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

ii). 12. Whenever the exemption under section 11 is to be denied the income of the trust is to be computed as per the specific provisions of section 164(2) provided in the statute, which are reproduced below for ready reference:– ―164(2) In the case of relevant income which is derived from property held under trust wholly for charitable

PRITAM SINGH CHARAN SINGH GUJJAR,NAGPUR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4,, NAGPUR

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao

section 50C(1) of the Act must be held to be effective from 1st April 2003, and the same is applicable retrospectively. 9. The learned A.R., in support of his arguments, relied upon the following judicial pronouncements:– 7 Pretam Singh Charan Singh Gujjar ITA no.406/Nag./2023 i) ITO v/s Rustom Fali Mehta, [2023] TaxPub(DT) 2721 (Mum- Trib); ii

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

II 14 Shri Nandkumar Khatumal Harchandani ITA no.410/Nag./2019 A.Y. 2014–15 24. Order of the Commissioner of Income Tax (Appeals)-4, Nagpur dated 24/03/2017 vide appeal No. CIT(A)-4/ 350/10-11 in case of Shri VishwasShridharKukde –Vs.- Income Tax Officer, Ward-4(2), Nagpur 25. Judgment of ITAT, Raipur Bench, Raipur vide ITA No. 21/BIL/2013 in case of DCIT

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

35,115.\n5. The assessee made investment in shares amounting to ₹ 20,61,59,037. The assessee has borrowed fund of ₹12,89,09,181, on which interest amounting to ₹ 17,07,742, has been paid. The assessee received dividend amounting to ₹ 48,899, which was claimed exempt under section 10(34) of the Act and claimed expenditure

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

DY. C.I.T. CENTRAL CIR2(2), NAGPUR vs. M/S SHREE AGRAWAL COAL INDIA PVT. LTD.,, NAGPUR

In the result, Revenue’s appeal being ITA no

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

ii) On the facts and circumstances of the case, the Ld.CIT(A) erred in deleting the disallowances of Rs. 8,69,520/- on account of expenses claimed. iii) On the facts and circumstances of the case, the Ld.CIT(A) erred in deleting the disallowance made out of expenditure claimed of Rs. 73,11,786/-on account of bad debts

A,C.I.T. CENTRAL CIR.- 2(2), NAGPUR vs. SHRI DHARAMPAL R.AGRAWAL, NAGPUR

In the result, Revenue’s appeal being ITA no

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

ii) On the facts and circumstances of the case, the Ld.CIT(A) erred in deleting the disallowances of Rs. 8,69,520/- on account of expenses claimed. iii) On the facts and circumstances of the case, the Ld.CIT(A) erred in deleting the disallowance made out of expenditure claimed of Rs. 73,11,786/-on account of bad debts

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

II vide Appeal No.CIT(A)- 3/279/2016-17 order dated 29/01/2018. The relevant portion of order of Hon'ble CIT(A) is reproduced hereunder: 6. I find that the appellant has made detailed submissions and given supporting evidence. I find substantial force in the submission given by the appellant. The appellant during the course of assessment proceedings had submitted confirmation, copy

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

II vide Appeal No.CIT(A)- 3/279/2016-17 order dated 29/01/2018. The relevant portion of order of Hon'ble CIT(A) is reproduced hereunder: 6. I find that the appellant has made detailed submissions and given supporting evidence. I find substantial force in the submission given by the appellant. The appellant during the course of assessment proceedings had submitted confirmation, copy