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

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

section 11 of the Act to the assessee trust as already directed by the learned CIT(A). Keeping in view the overall facts and circumstances of the case, ground no.4, raised by the Revenue is dismissed. 23. Ground no.5, being general in nature hence no separate adjudication is required. 24. In the result, appeal by the Revenue

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

section 11 of the Act to the assessee trust as already directed by the learned CIT(A). Keeping in view the overall facts and circumstances of the case, ground no.4, raised by the Revenue is dismissed. 23. Ground no.5, being general in nature hence no separate adjudication is required. 24. In the result, appeal by the Revenue

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

section 11 of the Act to the assessee trust as already directed by the learned CIT(A). Keeping in view the overall facts and circumstances of the case, ground no.4, raised by the Revenue is dismissed. 23. Ground no.5, being general in nature hence no separate adjudication is required. 24. In the result, appeal by the Revenue

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

depreciation of Rs.\n47,53,025/-.\n8. On the facts and circumstances of the case, the learned CIT(A) has erred in\ndeleting the addition made on account of unsecured loans being unexplained\ncredits Rs. 6,45,38,278/-.\n4\nM/s. Shree Agarwal\nCoal India Pvt. Ltd. & Group Cases\n9. On the facts and circumstances of the case, the learned

A,C.I.T. CENTRAL CIR.- 2(2), NAGPUR vs. SHRI DHARAMPAL R.AGRAWAL, NAGPUR

In the result, Revenue's appeal being ITA no

depreciation of Rs.\n47,53,025/-.\n8. On the facts and circumstances of the case, the learned CIT(A) has erred in\ndeleting the addition made on account of unsecured loans being unexplained\ncredits Rs. 6,45,38,278/-.\n5\nM/s. Shree Agarwal\nCoal India Pvt. Ltd. & Group Cases\n9. On the facts and circumstances of the case, the learned

VISHAL KISHORILAL JAIN,NAGPUR vs. DCIT/ACIT CIRCLE-4, NAGPUR

In the result, assessee’s appeal for A

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

depreciation allowance or any other allowance or deduction for such assessment year and for which a prior notice under Section 148 would be required to be issued. Section 147 does not contemplate an eventuality which Section 153A or Section 153C contemplates, the basis of which is inter alia a search action under Section 132 being resorted as noted hereinabove. Thus

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. M/S SHREE AGRAWAL FINANCE INDIA P. LTD.,, NAGPUR

In the result, Revenue's appeal being ITA no

depreciation of Rs.\n47,53,025/-.\n8. On the facts and circumstances of the case, the learned CIT(A) has erred in\ndeleting the addition made on account of unsecured loans being unexplained\ncredits Rs. 6,45,38,278/-.\n5\nM/s. Shree Agarwal\nCoal India Pvt. Ltd. & Group Cases\n9. On the facts and circumstances of the case, the learned

DREAMZ INFRASTRUCTURE ,AMRAVATI vs. NATIONAL E-ASSESSMENT CENTRE, DELHI

In the result, assessee’s appeal is allowed for statistical purposes

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

depreciation as per Income Tax Act. The addition made by AO is without affording any opportunity to the assessee. The same be deleted. 3. That the C.I.T. (Appeals) erred in confirming the disallowance of Rs. 80,69,310/- at 5% on the allegation that amount is spent in respect of land contribution by 7 partners is unjust. In fact

THE BULDHANA DISTRICT CENTRAL CO-OP BANK LTD ,BULDHANA vs. DCIT, AKOLA CIRCLE , AKOLA

In the result, appeal filed by the assessee is allowed

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

depreciation at ` 21,22,803. In this return of income, brought forward loss for the assessment year 2008–09 is claimed at ` 5,01,70,769, and for the assessment year 2009-10 at ` 2,61,43,904, and also claimed carried forward loss for the assessment year 2008-09, 2009-10 and 2010-11. The income for the assessment

DY. C.I.T. CENTRAL CIR.-1(3), NAGPUR vs. M/S SPACEWOOD FURNISHERS PVT. LTD , NAGPUR

In the result, Revenue’s appeal is dismissed

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

24,67,290. The Assessing Officer had concluded the assessment proceedings under section 143(3) vide order dated 21/03/2016 and made disallowance of expenditure in respect of detention / demurrage charges of ` 4,07,737. It appears that the then CIT(A)-3 had deleted the disallowance of ` 4,07,737, vide order dated 25/09/2017. Subsequently, the Assessing Officer has issued

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-4,, NAGPUR vs. SONU MONU AGRO PRIVATE LIMITED, NAGPUR

In the result, Department's appeal stands dismissed

24,370. During the\nyear under consideration, the assessee-company was engaged in various\nactivities namely Dall Mill, Cold Storage / Warehousing and Mushroom\ncultivation activity and produced Button Mushrooms meant for human\nconsumption i.e., edible mushrooms. The case was selected for complete\nscrutiny under CASS and statutory notice u/s 143(2) of the Income Tax Act,\n1961

RAVINDRA MADANLAL KHANDELWAL,AKOLA vs. DCIT/ACIT CIRCLE , AKOLA

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

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

24. The principles enunciated in various decisions are that if there are sufficient funds on a particular date to cover the advance, merely because the assessee has also taken some loan, it cannot be attributed that the interest- bearing funds are diverted for non-business purposes. In other words, the benefit of doubt of utilising the own funds from

ASSISTANT COMMISSIONER OF INCOME TAX AKOLA CIRCLE , AKOLA vs. AKOLA URBAN CO-OPRATIVE BANK LTD , AKOLA

In the result, appeal filed by the Revenue is dismissed

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

depreciation for current year as well as preceding year. The assessee filed its revised return on 01/10/2015, claiming TDS which remained to be claimed in original return of income. There were no changes in income insofar as other claims are concerned. The case was selected for Scrutiny under CASS. The Assessing Officer concluded by passing order dated 27/12/2017, under section