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

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

section 54 –invested in Residential Property jointly with 05 Other co–purchasers. The assessee’s shares comes to 1/6th in purchase consideration of residential property (1/6th of ` 85,01,000) 14,16,833 Long Term Capital Gain 42

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 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

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), NAGPUR vs. M/S. AAKAR HOTELS, NAGPUR

In the result, appeal of the revenue is dismissed

gains' is that there should be a\ncapital asset, Then the capital asset is to be transferred within the\nmeaning of section 2(47) of the Act and it is chargeable to tax as per section\n45 of the Act.\nxiii.\nHere Sec 2(47) of IT Act is quoted below for reference :-\nSection 2(47) in The Income

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

MAROTRAO LAXMAN KHADSE,NAGPUR vs. INCOME TAX OFFICER, WARD 3(4), NAGPUR

In the result, appeal of the assessee is allowed for statistical purpose

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.187/Nag/2022 िनधा"रण वष" / Assessment Year : 2014-15 Marotrao Laxman Khadse, The Income Tax Address: 4, Ward No.1, Vs Officer, Ward-3(4), Hdkeshwar, District: Nagpur. Nagpur. Maharashtra – 440034. Pan: Cropk0636B Appellant/ Assessee Respondent/Revenue Assessee By None. Revenue By Shri Abhay Y. Marathe– Sr.Dr Date Of Hearing 23/02/2024 Date Of Pronouncement 28/02/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeals)[Nfac],Under Section 250 Of The Income Tax Act, 1961 Dated 26.04.2022 Emanating From The Order Under Section 143(3) R.W.S 147 Of The Act, 1961 Dated 16.12.2019. The Grounds Of Appeal Raised By The Assessee Are As Under : Marotrao Laxman Khadse [A]

capital gain shall not be calculated as per section 50C of the Act. Subsequently, AO referred the issue to the valuation officer of the Income Tax Department. The DVO vide his report dated 14.11.2019, arrived at the value of the land as on 30.12.2013 at Rs.1,42

SMS TOLLS AND DEVELOPERS,NAGPUR vs. ITO, WARD 1(5), NAGPUR

In the result, appeal filed by the assessee is partly allowed in terms indicated above

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

Section (2(22)(e) of the Act which defines the expression accumulated profit as under:- Explanation 2:- The expression "accumulated profits" in sub clauses (a),(b), (d) and (e), shall include all profits of the company up to the date of distribution or payment referred to in those clauses, and in sub clause (c) shall include all profits

SHASHI VASANT SHASTRI,NAGPUR vs. ASSISSTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(1), NAGPUR

In the result, appeal filed by the assessee stands allowed

Bench: Shri Pawan Singh & Shri Khettra Mohan Royshashi Vasant Shastri, Acit, Central Circle– 2(1) 186, Induyash Apartment, Vs Nagpur 1St Floor, Dharampeth North Bazar Road, Ramnagar Square, Nagpur. Pan : Atbps 5695 M Assessee Respondent Assessee By : Ms. Veena Agrawal, Ca Revenue By : Shri Surjit Kumar Saha, Sr. Dr Date Of Hearing : 26.02.2026 Date Of Pronouncement : 27.03.2026

capital gains were not attracted in the absence of transfer, and the Assessing Officer (Shashi Vasant Shastri) was not justified in bringing the said amount to tax under the head “Income from Other Sources” without any legal basis, therefore, she prayed for deletion of the addition of ₹94,76,000/-. 5. Ld. Departmental Representation (DR) supported the orders of lower

ASSTT.COMMISSIONER OF INCOME TAX CIRCLE-5, NAGPUR vs. THE NIRMAL UJWAL CREDIT CO-OP SOCIETY LTD, NAGPUR

In the result, appeal filed by the Revenue for the assessment year

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

42,11,060/- being 8% of the Closing WIP as shown in Profit & Loss Account amounting to Rs. 1,05,26,38,260/-. 16. The another important aspect which deserves to be appreciated is that the Assessing Officer has erred in drawing reference from section 44AD. Section 44AD is a section for presumptive taxation, where in the statute has provided

FAIZ ZAKIR VALI,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(1), NAGPUR

In the result, appeal filed by the assessee is allowed

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

capital gain. (5). The assessee pleas to add/amend/alter/change any ground of appeal during the course of appellate proceeding.” 3. The learned A.R., upon her argument by pointing out that the addition is not permissible in line with the judgment of the Hon’ble Supreme Court in PCIT v/s Abhisar Buildwell

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

gain on shares held as taxable, without discussing anything on merit.. 7. On the facts and in the circumstances of the case and in law, the learned CIT(A) has erred in deleting the addition made by the Assessing Officer of Rs.58,53,382/- on account of credits in capital account, without discussing anything on merit

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

gain on shares held as taxable, without discussing anything on merit.. 7. On the facts and in the circumstances of the case and in law, the learned CIT(A) has erred in deleting the addition made by the Assessing Officer of Rs.58,53,382/- on account of credits in capital account, without discussing anything on merit

YRCE EDUCATE PVT. LTD,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(1), NAGPUR

42,560, the Addl.CIT could not have approved the assessed\nincome at Rs.1,65,07,560 had he applied his mind. The addition of Rs.\n15,04,35,000 made by the AO in the instant case is completely out of the\nscene in the final assessed income shows volumes.\n17.2. Even the factual situation is much worse than

NITIN MADANLAL KHANDELWAL,AKOLA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - AKOLA, AKOLA

In the result, appeal filed by the assessee stands dismissed

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

capital gain. But this is contrary to his claims that as the statutes did not allow KJAPL to borrow from open market, the appellant had no other choice but to take loan in his personal capacity to advance loan to the company. The case of S. A. Builders Ltd. vs CIT Appeal (civil) 5811 of 2006, is not applicable

POONAM RAJKUMAR DIWANKA,NAGPUR vs. PCIT (CENTRAL), NAGPUR

In the result, appeal filed by the assessee is dismissed

Bench: Shri Narender Kumar Choudhry & Shri K.M. Roy, Accountant, Member

section 263 of the Act, the Assessing Officer, passed order on 24/02/2025, against which the assessee preferred appeal before the learned CIT(A), who, vide order dated 30/05/2025, deleted the addition of ` 64,42,400, on account of long term capital gain

SHRI VISHWAKARAMA JEWELLERS ,AKOLA vs. DCIT AKOLA CIRCLE, AKOLA

In the result, assessee’s appeal is allowed

Bench: Shri Narender Kumar Choudhry & Shri K.M. Roy, Accountant, Member

capital gains' and (v) 'income from other sources cannot at all be adjusted against unexplained investment or expenditure. What is necessary as per Hon'ble Gujarat High Court is that source of acquisition of asset or expenditure should be clearly identifiable. In the case before Hon'ble Gujarat High Court the source of gold confiscated was not identifiable and hence