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

90,000/- Capital Gain Rs. 4,59,13,200/- Income tax Officer vide order under section 143(3) dated 21/03/2016

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 42,90

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

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

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 Gains taxable u/s 50 : Rs. 2,90,22,977/- In view of the above, I have reasons to believe that income to the tune of Rs.2,90,22,977/- has escaped assessment and it is a fit case for reopening of assessment as envisaged under the provisions of section

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

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

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

90 ITD 63\n(DELHI)(TM) wherein the assessee filed its return declaring income under\nsection 139(1) within the due date and the return was processed under section\n143(1)(a). Subsequently, a notice under section 143(2) was issued but the\nassessment could not be completed within the period of limitation. The\nAssessing Officer thereafter issued notice under

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

90 percent of the expenses as revenue expenditure and allocated 23 ACIT, CIRCLE-7, NAGPUR VS M/s. Newquest Corporation Ltd. (Now known as Avantha Holdings Ltd) 10 percent towards capital by observing that 10 percent of expenses have been incurred towards brand building, The Assessing Officer has not been able to justify as to how the 10 percent

FATTESING PUNAJI DHABRE,NAGPUR vs. PRINCIPAL COMMISSIONER INCOME TAX – 2, NAGPUR

In the result, this appeal of assessee is allowed

Bench: Shri Pawan Singh & Shri Khettra Mohan Roy(Physical Hearing) Fattesing Punaji Dhabre Pcit – 2, Nagpur Plot No. 132, Chandan Nagar, Post Vs Aayakar Bhawan, Civil Lines, Hanuman Nagar, Nagpur, Maharashtra – 440001. Maharashtra – 440009. [Pan: Bacpd6505Q] Appellant / Assessee Respondent / Revenue Assessee By Shri Madhav Vichare, Ca Revenue By Shri Pankaj Kumar, Cit–Dr Date Of Hearing 17.02.2026 Date Of Pronouncement 24.02.2026 Order Under Section 254(1) Of Income Tax Act

gain, first on considering sale consideration at `. 70,00,000/– and after reducing investment made as per section 54B, the assessee has suffered capital loss and in second working in considering deemed sale consideration of `. 1.20 crore, the assessee also suffered capital loss. The assessee also furnished detail explanation and submitted that if valuation of property

ANANT RAMRAO CHAVAN,AMRAVATI vs. INCOME TAX OFFICER, WARD-1, AMRAVATI

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

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

capital gain assessed at ` 96,90,000, and demand raised of ` 32,48,488, vide order passed under section 143(3) r/w section

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

90,70,728, is liable to be assessed as deemed dividend under section 2(22)(e) of the Act in the hands of the assessee. 5. During re–assessment proceeding, the assessee objected to the proposed addition on two grounds. First, the assessee submitted that the amount advanced by SSIL is in the nature of Inter Corporate Deposit, therefore

SHRI SHRI GURVINDER SINGH SASAN, L/H OF LATE SHRI JAGDISH SINGH SASAN,NAGPUR vs. THE ITO-WARD-2(2),, NAGPUR

In the result, the appeal of the assessee is allowed

Bench: Sh. G.D.Agrawal, Hon’Ble & Sh. Mahavir Singhsh. Gurvinder Singh Sasan, Vs Ito, L/H Of Late Sh. Jagdish Singh Sasan, Ward–2(2), C/O–Kasjmir Bar & Restaurant, 3Ed Floor, Ayakar Gaddogudam Chowk, Nagpur–440001. Bhawan, Nagpur Pan–Aeyps3694G (Appellant) (Respondent) Appellant By Sh.K.P.Dewani, Adv. Respondent By Sh. Jitesh Kumar Date Of Hearing 07.03.2018 Date Of Pronouncement 07.03.2018

section 54 of the Act and thereby he computed long term capital gain at Rs.18,13,900/- and added to the returned income of the assessee. Aggrieved the assessee preferred appeal before Ld.CIT(A). 4. Ld.CIT(A) confirmed the action of the AO by observing in par 10.7 as under:- 10.7. “As per the layout plan / map approved

VANDANA KISHOR NAIK ,NAGPUR vs. INOCME TAX OFFICER WARD 5(3), NAGPUR

Appeal is dismissed

Bench: Shri S.S. Godara & Shri Dr. Dipak P. Ripote"नधा"रण वष" / Assessment Year : 2011-12 Vandana Kishor Naik Vs. Ito, Ward 5(3), Plot No.98, Jaibadrinath Society, Nagpur Behind Swavlambi Nagar, Khamla, Nagpur – 440025 Pan : Aalpn9942R Appellant Respondent Assessee By None Revenue By Shri G.J. Ninawe Date Of Hearing 16-11-2022 Date Of Pronouncement 09-12-2022

Gain: The submission of the appellant is considered and the assessment order is perused. The assessee entered into an Agreement to Sale on 27/12/2010 for sale of her plot (Survey no.33) at Kachimet Mauza, within the city limits of NMC for an agreed value of Rs. 50 lacs when the Ready Reckoner value of the said plot of 278.79 sqmts

M/S SHREE STEEL CQASTINGS PVT. LTD ,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE -1, NAGPUR

In the result, Assessee’s appeal is partly allowed

Bench: Shri Narender Kumar Choudhrym/S. Shree Steel Castings Dcit, Circle-1, Nagpur Pvt. Ltd., T/38/1, Midc, Vs. Hingna Road, Nagpur. Pan: Aaccs 4071 J (Appellant) (Respondent)

90,300 + 45,04,700) and added the same to the income of the Assessee. The AO also made addition of Rs. 3,58,244/- on account of disallowance of interest by picking revise of the provision of 8D of the Income Tax Rules, 1962 (in short, ‘Rules’) read with section 14A of the Act. 4. The Assessee, being aggrieved

M/S SANJAY SHANKARRAO JADHAO,AMRAVATI vs. JIOINT C.I.T. AMRAVATI RANGE,, AMRAVATI

In the result, assessee’s appeal stands allowed

Bench: Shri Shamim Yahya & Shri Ram Lal Negi

90,180. 5 Shri Sanjay Shankarrao Jadhao 9. In this case, assessee has not disclosed its sale and purchase of agricultural land in its original return of income. It came to be noticed by the Assessing Officer during the course of assessment. Assessee filed belated revised return of income. The Assessing Officer added capital gain on sale of land

RAMESH WASUDEORAO NAWSALKAR,AMRAVATI vs. DCIT AMRAVATI CIRCLE, AMRAVATI

In the result, appeal of the Assessee is allowed

Bench: Dr. Manish Borad

capital gain. 7. So far as registration charges are concerned, normally purchaser has to bear the registration charges, but in this case assessee has reimbursed the registration charges to the six buyers. Before me, learned counsel for the assessee has 4 ITA.No.746/NAG/2025 (Ramesh Wasudeorao Nawsalkar) referred to the extract section 30 of Bombay Stamp Act placed at page

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

Capital gain on sale of shares. 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 on account of deemed dividend of Rs.4,03,68,424/- (after rectification Rs.81,93,107/-) 8. On the facts and in the circumstances of the case

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

Capital gain on sale of shares. 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 on account of deemed dividend of Rs.4,03,68,424/- (after rectification Rs.81,93,107/-) 8. On the facts and in the circumstances of the case