DCIT, CIRCLE-2, NAGPUR, NAGPUR vs. NARESH LAXMINARAYAN GROVER, NAGPUR

In the result, all these three appeals for the A

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

set the order passed by Ld CIT(A) on the grounds raised on merits and direct the AO to delete the addition of long term capital gains. 17. The assessee has also raised a ground challenging the validity of reopening of assessment. Since we have deleted the addition on merits, this legal ground becomes academic in nature and accordingly

DCIT, CIRCLE-2, NAGPUR, NAGPUR vs. NARESH LAXMINARAYAN GROVER, NAGPUR

In the result, all these three appeals for the A

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

set the order passed by Ld CIT(A) on the grounds raised on merits and direct the AO to delete the addition of long term capital gains. 17. The assessee has also raised a ground challenging the validity of reopening of assessment. Since we have deleted the addition on merits, this legal ground becomes academic in nature and accordingly

VINAY RAMSHARANDAS AGRAWAL,NAGPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX-II, NAGPUR

In the result, appeal by the assessee stands allowed

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

setting aside the assessment to make further enquiries is unjustified. The learned PCIT cannot term the impugned order passed as erroneous in the absence of any mistake found in the computation of income when all the details were before him. Thus, the impugned order passed under section 263 of the Act is unjustified, bad–in–law and likely

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

set off of long-term capital loss against short-term capital gains. 14. I.T.A. No. 79/Nag/2010 (ITAT, Nagpur) Plastic Surge

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

set off of long-term capital loss against short-term capital gains.\n14. I.T.A. No. 79/Nag/2010 (ITAT, Nagpur) Plastic Surge

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

set aside. 3.1 The appellant has further submitted that the erstwhile firm M/s. Vinayak Builders & Developers, Nagpur executed an agreement with M/s. Sandeep Dwellers Pvt. Ltd. Nagpur for development of its land on which a project named ―Omkar Gaurav‖ was launched having two phases. 1st Phase was completed in all respect during the year ended 31.03.2012 only but sale deeds

SUSHILA BHAURAO DESHMUKH,AMRAVATI vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, NAGPUR

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durgarao & Shrik.M. Roy, Accountant, Member

gains received or accruing as a result of the transfer of the original asset; (b) "long-term specified asset" for making any investment under this section during the period commencing from the 1st day of April, 2006 and ending with the 31st day of March, 2007, means any bond, redeemable after three years and issued on or after

SANJAY GULABCHAND GUPTA,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX,CIRCLE-4, NAGPUR

In the result, appeal by the assessee stands dismissed

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

capital gain arise, it is eligible for claiming deduction u/s. 54F. 5 Sanjay Gulabchand Gupta ITA no.210/Nag./2023 4.18 It is here that the assessee's wilful and deliberate tax avoidance comes to the fore. In the aforesaid reply as can be seen from the highlighted portion that the assessee claims that actual construction started during

DAYAL AGRO PRODUCTS LTD,AKOLA vs. JCIT, AKOLA RANGE, AKOLA

In the result, the assessee’s appeal is allowed

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

loss can be carried forward for maximum period of 8 years, to be set off against future capital short term gain

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

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

loss on the basis of evidence directly submitted before him and without asking remand report to verify such evidence.\n6. Any other ground shall be prayed at the time of hearing.”\n3.\nIn ground no.1, relates to the action of the Assessing Officer in re-\nopening of assessment under section 147 of the Income

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

loss of `. 98,730/–. The assessing officer accepted the explanation and Fattesing Punaji Dhabre computation of long term capital gain without further verification and enquiries. The order passed by ld. Assessing Officer is silent on the basis of cost of acquisition and computation of long term capital gain remained unverified. The ld. PCIT was of the view that order passed

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

capital gain. The “partnership firm\" and \"partners\" are different\nentities as per Income Tax Act, 1961. The Assessing Officer has misdirected\nhimself to understand the basic premise of ownership and has gone to tax the\nincome in their own hands.\n11.\nFurther, we observe that the P.N.B. Construction Company approached the\nAssessee for purchase of the built-up area

MANISHA ASHUTOSH SHEWALKAR,NAGPUR vs. INCOME TAX OFFICER WARD 5(3), NAGPUR

In the result, assessee’s appeal stands allowed

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

loss in the return of income filed for the preceding assessment year 2012-13 and 2013-14. The Ward Inspector was deputed by the Assessing Officer to conduct enquiries of the site. She has reported that 4 Manisha Ashutosh Shewalkar ITA no.67/Nag./2025 the construction work was undergoing for last 4-5 years. Thus, for the Assessing Officer

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

loss computed under any of the five heads mentioned in section 14-(1) 'salary', (ii) income from house property, (iii) 'profits and gains from business or profession', (iv) '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

BHAVIKA GUNWANT PATEL,NAGPUR vs. INCOME TAX OFFICER, WARD 4(3), NAGPUR

In the result, appeal filed by the assessee are allowed

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

gain or short-term loss. On verification of data, the AO found that the appellant was one of the beneficiaries who have traded in the above-mentioned script. On verification of return of income, it was found that the appellant claimed exempt income of Rs.1,04,564/-. The appellant also availed bogus LTCG and claimed exemption from

SHREE MAYA REAL ESTATE PVT. LTD.,NAGPUR vs. DEPUTY 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

loss as ` (–) 48,45,771. Aggrieved by the assessment order, the assessee filed appeal before the first appellate authority. Aggrieved, the assessee carried the matter in appeal before the first appellate authority. 6. The learned CIT(A) confirmed the order passed by the Assessing Officer by observing as follows:– Shree Maya Real Estate Pvt. Ltd. ITA no.227–228/Nag./2022 “During

SHREE MAYA REAL ESTATE PVT. LTD.,NAGPUR vs. DEPUTY 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

loss as ` (–) 48,45,771. Aggrieved by the assessment order, the assessee filed appeal before the first appellate authority. Aggrieved, the assessee carried the matter in appeal before the first appellate authority. 6. The learned CIT(A) confirmed the order passed by the Assessing Officer by observing as follows:– Shree Maya Real Estate Pvt. Ltd. ITA no.227–228/Nag./2022 “During

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

setting–off brought forward loss of the preceding assessment year i.e., A.Y. 2010-11. The Assessing Officer while completing the assessment vide order dated 27/03/2015, made two additions which were added to the total income of the assessee. The first addition of ` 1,24,04,174, pertains to interest income earned by the assessee Society from deposits (FDR) with Nationalized