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

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

section 142(1) of the Act was issued to the assessee. The assessee furnished his reply along with its enclosures. The Assessing Officer, on a perusal of assessee’s reply, it was observed that the assessee has sold the said immovable property during the year under consideration and worked out capital gain on the same which comes to ` 32,49

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

49,571 Acquisition Long Term Capital Gains ` 43,929 13. Thus, ground no.3, is partly allowed. 14. Ground no.4, relates to enhancing the income of the assessee by an amount of ` 68,568, on account of interest income of the assessee. 15. After hearing arguments of both the parties, we find that in the remand report dated 20/02/2020, the Assessing

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

49,571 Acquisition Long Term Capital Gains ` 43,929 13. Thus, ground no.3, is partly allowed. 14. Ground no.4, relates to enhancing the income of the assessee by an amount of ` 68,568, on account of interest income of the assessee. 15. After hearing arguments of both the parties, we find that in the remand report dated 20/02/2020, the Assessing

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

49,571 Acquisition Long Term Capital Gains ` 43,929 13. Thus, ground no.3, is partly allowed. 14. Ground no.4, relates to enhancing the income of the assessee by an amount of ` 68,568, on account of interest income of the assessee. 15. After hearing arguments of both the parties, we find that in the remand report dated 20/02/2020, the Assessing

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

49,571 Acquisition Long Term Capital Gains ` 43,929 13. Thus, ground no.3, is partly allowed. 14. Ground no.4, relates to enhancing the income of the assessee by an amount of ` 68,568, on account of interest income of the assessee. 15. After hearing arguments of both the parties, we find that in the remand report dated 20/02/2020, the Assessing

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-4, NAGPUR, NAGPUR vs. SHIKHA INDRAKUMAR AGRAWAL, NAGPUR

In the result, appeal by the assessee stands allowed

Bench: Shri Pawan Singh & Shri Khettra Mohan Roy

capital gains as unexplained cash credit under section 68 of the Act. The tribunal while dismissing the appeals filed by the Revenue also observed on facts that these shares were purchased by respondent on the floor of Stock Exchange and not from the said broker, deliveries were taken, contract notes were issued and shares were also sold on the floor

DCIT-CC-2(1), NAGPUR, NAGPUR vs. INDRAKUMAR GHISULAL AGRAWAL, NAGPUR

In the result, appeal by the assessee stands allowed

Bench: Shri Pawan Singh & Shri Khettra Mohan Roy

capital gains as unexplained cash credit under section 68 of the Act. The tribunal while dismissing the appeals filed by the Revenue also observed on facts that these shares were purchased by respondent on the floor of Stock Exchange and not from the said broker, deliveries were taken, contract notes were issued and shares were also sold on the floor

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 which is not chargeable even as deemed income because of section 54E, cannot be brought to tax as part of the book profit under the Explanation to section 115J.” (underlined, bold and italics for emphasis) From the above finding of the Special Bench, it can be seen that the non- obstante will have overriding effect over the other section

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 which is not chargeable even as deemed income because of section 54E, cannot be brought to tax as part of the book profit under the Explanation to section 115J.” (underlined, bold and italics for emphasis) From the above finding of the Special Bench, it can be seen that the non- obstante will have overriding effect over the other section

DY. C.I.T. CIR-.5, NAGPUR vs. M/S AVANTHA HOLDINGS LTD.,, CHANDRAPUR

In the result, appeal filed by the assessee is dismissed

49,37,331/- is directed to be deleted. Income as shown under the head long term capital gain at Rs.13,55,259/- be assessed to tax. Ground of appeal is disposed as directed hereinabove.\n18. The learned CIT(A) by considering all the facts and also by following the decision rendered in assessee's own case for the assessment year

AVANTHA HOLDINGS LIMITED,NEW DELHI vs. A.C.I.T. CIR-5,, NAGPUR

In the result, appeal filed by the assessee is dismissed

49,37,331/- is directed to be deleted. Income as shown under the head long term capital gain at Rs.13,55,259/- be assessed to tax. Ground of appeal is disposed as directed hereinabove.\"\n18. The learned CIT(A) by considering all the facts and also by following the decision rendered in assessee's own case for the assessment year

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

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

49,528\nIndexed Acquisition Cost\n₹3,105\n*8,72,710\n8,75,815\nSale Date\n31/12/20111\n31/12/2011\nSales Consideration\n*18,459\n17,31,94,4007\n17,32,12,466\nSelling Expenses\n₹0\n*86,47,052\n86,47,052\nNet Sale Consideration\n*18,459\n16,45,46,955\n16,45,65,414\nCapital Gains

SMT . RAJANI SURENDRA ADAMANE ,NAGPUR vs. INCOME TAX OFFICER WARD 6(1), NAGPUR

In the result, Assessee’s appeal is allowed in the aforesaid terms

Bench: Shri Narender Kumar Choudhrysmt. Rajani Surendra Ito, Ward-4(4), Nagpur Adamane, Plot No.30, Near Ghodke School Surendra Vs. Nagar, Hudkeshwar Road, Nagpur-440024. Pan: Alapa 9897 L (Appellant) (Respondent)

section 50C of the Act and while deducting the indexed cost of acquisition of plot to the tune of Rs. 1,33,284/- and other expenses claimed to the tune of Rs. 2,67,863/- by the Assessee, ultimately determined long term capital gain of Rs. 49

DY. COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(1), NAGPUR vs. SHRI SANJAY GAURISHANKAR AGRAWAL , NAGPUR

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

49,79,705/-and remaining 100000 shares were sold on 13/03/2014 for a gross receipt of Rs 45,81,283/ thus a total receipt of Rs.95,60,988/- against which total long term capital gain of Rs.94,60,988.70 has been claimed by assessee as exempt u/s 10(38) of IT Act 1961 in A.Y 2014-15. ii) The claim

ITO, WARD- 4,, CHANDRAPUR vs. M/S. K.S.R. TRANSPORT COMPANY,, CHANDRAPUR

Appeal is dismissed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.364/Nag/2019 िनधा"रण वष" / Assessment Year : 2009-10 The Assistant M/S.Ksr Transport, Commissioner Of Income V Padoli Chadda Building, Tax, Chandrapur Circle, S Kosara Road, Chandrapur. Chandrapur. Pan: Aabfk3222D Appellant / Revenue Respondent / Assessee Cross Objection No.02/Nag/2020 (Arising Out Of Ita No.364/Nag/2019) िनधा"रण वष" / Assessment Year : 2009-10 M/S.Ksr Transport, The Assistant Padoli Chadda Building, V Commissioner Of Income Kosara Road, Chandrapur. S Tax, Chandrapur Circle, Pan: Aabfk3222D Chandrapur. Appellant / Assessee Respondent / Revenue Assessee By Shri Mukesh Agrawal – Ar Revenue By Shri Abhay Y. Marathe – Sr.Dr Date Of Hearing 30/11/2023 Date Of Pronouncement 09/01/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Revenue Against The Order Of Ld.Cit(A)-2, Nagpur Dated 28.08.2019 Emanating From

capital gain on “Sale of Vehicles” had escaped assessment. Thus, it is very much clear from the reasons that AO is referring to the same agreements which were examined by the AO during original assessment proceedings and which has been mentioned in the original assessment order. The issue of “Sale of Vehicles” is discussed in the original assessment order

ASSISTANT COMMISSIONER OF INCOME TAX CHANDRAPUR CIRCLE , CHANDRAPUR vs. M/S CHADDA TRANSPORT , CHANDRAPUR

Appeal is dismissed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.363/Nag/2019 िनधा"रण वष" / Assessment Year : 2009-10 The Assistant M/S.Chadda Transport, Commissioner Of V Kosara Road, Padoli, Income Tax, S Chandrapur, Chandrapur Circle, Maharashtra – 442401. Chandrapur. Pan: Aaafc8556F Appellant / Revenue Respondent / Assessee Cross Objection No.01/Nag/2020 (Arising Out Of Ita No.363/Nag/2019) िनधा"रण वष" / Assessment Year : 2009-10 M/S.Chadda Transport, The Assistant Kosara Road, Padoli, V Commissioner Of Income Chandrapur, S Tax, Maharashtra – 442401. Chandrapur Circle, Chandrapur. Pan: Aaafc8556F Appellant / Assessee Respondent / Revenue Assessee By Shri Mukesh Agrawal – Ar Revenue By Shri Abhay Y. Mrathe – Sr.Dr Date Of Hearing 30/11/2023 Date Of Pronouncement 27/12/2023 आदेश/ Order Per Dr. Dipak P. Ripote, Am:

capital gain on “Sale of Vehicles” had escaped assessment. Thus, it is very much clear from the reasons that AO is referring to the same agreements which were examined by the AO during original assessment proceedings and which has been mentioned in the original assessment order. The issue of “Sale of Vehicles” is discussed in the original assessment order

DEPUTY COMMISSIONER OF INCOME TAX, NAGPUR vs. AVANTHA HOLDINGS LIMITED, CHANDRAPUR

In the result, appeal filed by the assessee is dismissed

49,37,331/- is\ndirected to be deleted. Income as shown under the head long term capital\ngain at Rs.13,55,259/- be assessed to tax. Ground of appeal is disposed as\ndirected hereinabove.\"\n18. The learned CIT(A) by considering all the facts and also by following the\ndecision rendered in assessee's own case for the assessment year

SHRIRAM NARAYAN TIKDE,NAGPUR vs. INCOME TAX, WARD 4(4) , NAGPUR

Bench: Shri V. Durga Rao

capital gains of Rs.73,041 offered by the assessee. In doing so, the learned AO erred in not providing benefit of indexed cost of improvement of Rs.4,55,185 incurred during FY 2006-07, brokerage fees on sale of plot of Rs.25,000 and deduction under section 54 claimed by the assessee on new investment