DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. SMT. ANJU A. SARAF, NAGPUR

In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed

Bench: Shrisandeepgosain & Shriarunkhodpia

10 Smt. AanjuSaraf 11. Some judicial findings wherein, held that the assessee is entitled to raise a claim of expenses, deduction and carry forward of losses etc. in the return of Income filed u/s 153A of the act:- PCIT V JSW Steel Ltd. [2020] 115 taxmann.com 165 (Bombay) ACIT V Splendor Landbase Limited ( ITA No. 2461/Del/2016

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. SMT. ANJU SARAF, NAGPUR

In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed

Bench: Shrisandeepgosain & Shriarunkhodpia

10 Smt. AanjuSaraf 11. Some judicial findings wherein, held that the assessee is entitled to raise a claim of expenses, deduction and carry forward of losses etc. in the return of Income filed u/s 153A of the act:- PCIT V JSW Steel Ltd. [2020] 115 taxmann.com 165 (Bombay) ACIT V Splendor Landbase Limited ( ITA No. 2461/Del/2016

SMT. ANJU SARAF,,NAGPUR vs. A,C.I.T CENT CIR. 2(2), NAGPUR

In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed

Bench: Shrisandeepgosain & Shriarunkhodpia

10 Smt. AanjuSaraf 11. Some judicial findings wherein, held that the assessee is entitled to raise a claim of expenses, deduction and carry forward of losses etc. in the return of Income filed u/s 153A of the act:- PCIT V JSW Steel Ltd. [2020] 115 taxmann.com 165 (Bombay) ACIT V Splendor Landbase Limited ( ITA No. 2461/Del/2016

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. SMT. ANJU A. SARAF, NAGPUR

In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed

Bench: Shrisandeepgosain & Shriarunkhodpia

10 Smt. AanjuSaraf 11. Some judicial findings wherein, held that the assessee is entitled to raise a claim of expenses, deduction and carry forward of losses etc. in the return of Income filed u/s 153A of the act:- PCIT V JSW Steel Ltd. [2020] 115 taxmann.com 165 (Bombay) ACIT V Splendor Landbase Limited ( ITA No. 2461/Del/2016

SMT. ANJU SARAF,,NAGPUR vs. A,C.I.T CENT CIR. 2(2), NAGPUR

In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed

Bench: Shrisandeepgosain & Shriarunkhodpia

10 Smt. AanjuSaraf 11. Some judicial findings wherein, held that the assessee is entitled to raise a claim of expenses, deduction and carry forward of losses etc. in the return of Income filed u/s 153A of the act:- PCIT V JSW Steel Ltd. [2020] 115 taxmann.com 165 (Bombay) ACIT V Splendor Landbase Limited ( ITA No. 2461/Del/2016

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. SMT. ANJU SARAF, NAGPUR

In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed

Bench: Shrisandeepgosain & Shriarunkhodpia

10 Smt. AanjuSaraf 11. Some judicial findings wherein, held that the assessee is entitled to raise a claim of expenses, deduction and carry forward of losses etc. in the return of Income filed u/s 153A of the act:- PCIT V JSW Steel Ltd. [2020] 115 taxmann.com 165 (Bombay) ACIT V Splendor Landbase Limited ( ITA No. 2461/Del/2016

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

depreciation in the value of foreign exchange currency held by it, on conversion into another currency, such profit or less would ordinarily be trading profit or loss if the foreign exchange currency is held by the assessee on revenue account of a trading asset or as part of circulating capital in the business. But, if on the other hand

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

10 Jaymahakali Shikshan Sanstha A.Y. 2017–18, 2018–19 & 2019–20 "28.6 It may be noted that new sub-section (1A) inserted in section 161 of the IT Act, which provides for taxation of the entire income received by trusts at the maximum marginal rates is applicable only in the case of private trusts having profits and gains of business

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

10 Jaymahakali Shikshan Sanstha A.Y. 2017–18, 2018–19 & 2019–20 "28.6 It may be noted that new sub-section (1A) inserted in section 161 of the IT Act, which provides for taxation of the entire income received by trusts at the maximum marginal rates is applicable only in the case of private trusts having profits and gains of business

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

10 Jaymahakali Shikshan Sanstha A.Y. 2017–18, 2018–19 & 2019–20 "28.6 It may be noted that new sub-section (1A) inserted in section 161 of the IT Act, which provides for taxation of the entire income received by trusts at the maximum marginal rates is applicable only in the case of private trusts having profits and gains of business

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

In the result, appeal for the A

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

depreciation, it clearly indicates the addition is made with the prejudice and unlawful way and therefore needs to be deleted. 18. Further not withstanding anything mentioned in above para, even otherwise, if the expenses on purchase of machines are disallowed, it would ultimately result in increase in gross total income, which is completely deductible under section 80P. Thus, the deduction

THE AMRAVATI PEOPLE CO-OP BANK LTD ( NOW MERGED IN THE COSMOS CO-OP BANK LTD),AMARAVATI vs. D.C.I.T. AMRAVATI CIRCLE, AMARAVATI

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकरअपीलसं. / Ita No. 309/Nag/2015 "नधा"रणवष" / Assessment Year : 2008-09 The Amravati Peoples Co-Op. Bank Limited (Now Merged In The Cosmos Co-Op. Bank Ltd.) C/O. Cosmos Co-Op Bank Ltd. Jawahar Road, Amravati-444601. Pan : Aaact5899B .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax, Amravati Circle, Amravati. ……""यथ" / Respondent Assessee By : Shri S.G. Gandhi, Ar Revenue By : Smt. Agnes P. Thomas, Dr सुनवाईक"तार"ख / Date Of Hearing : 18.02.2022 घोषणाक"तार"ख / Date Of Pronouncement : 09.05.2022

depreciation allowance, in the following manner, to the extent available" is as under:- Asst. Year Remarks S. Nature of Amount as Amount as No. loss/allowance ( returned (in assessed ( give rupees) in rupees) reference to relevant order) 1. 2002-03 Business loss 28858541 Not available 98748798 2. 2004-05 Business loss 36762850 -Do- 3479468 Total 10,22,28,266/- The assessment

ASSTT. C.I.T, CENTRAL CIR, -2(1), NAGPUR vs. M/S GUPTA COAL(INDIA) LTD, NAGPUR

In the result, cross objections No

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

Section 32(1)(iia) of the Income Tax Act, 1961. The AO is directed to allow additional depreciation of Rs.1,69,92,222/-. The ground is allowed in favour of the appellant.” 12 Group of 22 Cases, Nagpur. Gupta group of cases. 13. We have perused the case records and heard the submissions of the Ld. DR. We have also

ASSTT. C.I.T, CENTRAL CIR, -2(1), NAGPUR vs. M/S GUPTA GLOBAL RESOURCES LTD(EAELIER KNOWN AS GUPTA COALFIELDS & WASHHERIES LTD), NAGPUR

In the result, cross objections No

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

Section 32(1)(iia) of the Income Tax Act, 1961. The AO is directed to allow additional depreciation of Rs.1,69,92,222/-. The ground is allowed in favour of the appellant.” 12 Group of 22 Cases, Nagpur. Gupta group of cases. 13. We have perused the case records and heard the submissions of the Ld. DR. We have also

ASSTT. C.I.T, CENTRAL CIR, -2(1), NAGPUR vs. M/S GUPTA COAL(INDIA) LTD, NAGPUR

In the result, cross objections No

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

Section 32(1)(iia) of the Income Tax Act, 1961. The AO is directed to allow additional depreciation of Rs.1,69,92,222/-. The ground is allowed in favour of the appellant.” 12 Group of 22 Cases, Nagpur. Gupta group of cases. 13. We have perused the case records and heard the submissions of the Ld. DR. We have also

ASSTT.C,I,.T, CENTRAL CIR, -2(3), NAGPUR vs. M/S GUPTA COALFIELDS & WASHERIES LTD., NAGPUR

In the result, cross objections No

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

Section 32(1)(iia) of the Income Tax Act, 1961. The AO is directed to allow additional depreciation of Rs.1,69,92,222/-. The ground is allowed in favour of the appellant.” 12 Group of 22 Cases, Nagpur. Gupta group of cases. 13. We have perused the case records and heard the submissions of the Ld. DR. We have also

ASSTT. C.I.T, CENTRAL CIR, -2(1), NAGPUR vs. M/S GUPTA GLOBAL RESOURCES LTD(EAELIER KNOWN AS GUPTA COALFIELDS 7 WASHHERIES LTD), NAGPUR

In the result, cross objections No

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

Section 32(1)(iia) of the Income Tax Act, 1961. The AO is directed to allow additional depreciation of Rs.1,69,92,222/-. The ground is allowed in favour of the appellant.” 12 Group of 22 Cases, Nagpur. Gupta group of cases. 13. We have perused the case records and heard the submissions of the Ld. DR. We have also

ASSTT. C.I.T, CENTRAL CIR, -2(1), NAGPUR vs. M/S GUPTA GLOBAL RESOURCES LTD(EAELIER KNOWN AS GUPTA COALFIELDS & WASHHERIES LTD), NAGPUR

In the result, cross objections No

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

Section 32(1)(iia) of the Income Tax Act, 1961. The AO is directed to allow additional depreciation of Rs.1,69,92,222/-. The ground is allowed in favour of the appellant.” 12 Group of 22 Cases, Nagpur. Gupta group of cases. 13. We have perused the case records and heard the submissions of the Ld. DR. We have also