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

254 (Gauhati) it has been held that- “Under section 68 of Income Tax Act creditor‟s creditworthiness has to be judged vis-à-vis transactions, which have taken place between assessee and creditor, and it is not business of assessee to find out source of money of his creditor or genuineness of transactions, which took place between creditor

JEETENDRA CHANDRAKANT NAYAK,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOM TAX(OSD), NAGPUR

In the result, the appeal filed by the assessee is allowed

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

254, Bajaj Nagar, Nagpur. ……………. Appellant PAN – AAQPN4090H v/s Asstt. Commissioner of Income Tax, ……………. Respondent (OSD), Nagpur Assessee by : Shri M.G.Moryani, Advocate Revenue by : Shri Rajat Singhai, Sr. DR Date of Hearing – 27/06/2024 Date of Order – 27/06/2024 O R D E R PER K.M.ROY, A.M. The present appeal has been preferred by the assessee challenging the impugned order dated 18/10/2023, passed

INCOME TAX OFFICER WARD-2, KHAMGAON, KHAMGAON vs. RENUKA OIL INDUSTRIES, KHAMGAON

In the result, Revenue’s appeal stands dismissed

Bench: Shri V. Durga Rao

254 of the Act or Commissioner of Income Tax (Appeals) under section 250 of the Act. It has also been held in various subsequent case laws that this restriction is not applicable to the appellate authorities and that the appellate authorities can entertain claims made otherwise than by way of return or revised return of income provided the appellate authorities

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

In the result, Department's appeal stands dismissed

section 14A(1) of the I.T. Act, 1961 for the purposes of computing the\ntotal income under this Chapter, no deduction shall be allowed in respect of\nexpenditure incurred by the assessee in relation to income which does not\nform part of the total income. The Prudent assessee might have suo-moto\ndisallowed the expenses amounting to Rs. 12.90 Crore

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

In the result, appeal filed by the assessee is dismissed

1 (SC). We on perusing the evidence on record find that learned CIT(A) has dealt with the facts and evidence on record extensively while granting relief in the case of appellant. Detailed order passed by the CIT(A) indicating reason for deleting the addition has been reproduced in the paragraphs hereinabove. We are in agreement with the findings

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

In the result, appeal filed by the assessee is dismissed

1 (SC). We on perusing the evidence on record find that learned CIT(A) has dealt with the facts and evidence on record extensively while granting relief in the case of appellant. Detailed order passed by the CIT(A) indicating reason for deleting the addition has been reproduced in the paragraphs hereinabove. We are in agreement with the findings