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

1. Ground on the fact and in the circumstances of the case the Id. CIT(A) erred in allowing the depreciation of Rs.5,57,40,754/- when the claim of depreciation on assets, already applied against the receipts of the trust. The depreciation cannot be allowed as deduction as per the provision of section

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

1. Ground on the fact and in the circumstances of the case the Id. CIT(A) erred in allowing the depreciation of Rs.5,57,40,754/- when the claim of depreciation on assets, already applied against the receipts of the trust. The depreciation cannot be allowed as deduction as per the provision of section

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

37 and section 57(iii) of the income tax act, 1961. The landmark judgment on this issue, which explains the entire gamut of provisions is that of the Hon'ble Supreme Court in SA Builders Limited's case 288 ITR 1 (SC). 4.8 In the above-mentioned case, the issue was whether an assessee, who had borrowed funds carrying interest

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

Section 153A of the Income- tax Act, 1961? 2. On the facts and circumstances of the case, the learned CIT(A) has erred in deleting the addition made on account of an agriculture income, amounting Rs. 1,61,800/-. 3. On the facts and circumstances of the case, the learned CIT(A) has erred in deleting the disallowance made

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

Section 153A of the Income- tax Act, 1961? 2. On the facts and circumstances of the case, the learned CIT(A) has erred in deleting the addition made on account of an agriculture income, amounting Rs. 1,61,800/-. 3. On the facts and circumstances of the case, the learned CIT(A) has erred in deleting the disallowance made

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

In the result, Revenue's appeal being ITA no

Section 153A of the Income-\ntax Act, 1961?\n2. On the facts and circumstances of the case, the learned CIT(A) has erred in\ndeleting the addition made on account of an agriculture income, amounting\nRs. 1,61,800/-.\n3. On the facts and circumstances of the case, the learned CIT(A) has erred in\ndeleting the disallowance made

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

Section 153A of the Income-\ntax Act, 1961?\n2. On the facts and circumstances of the case, the learned CIT(A) has erred in\ndeleting the addition made on account of an agriculture income, amounting\nRs. 1,61,800/-.\n3. On the facts and circumstances of the case, the learned CIT(A) has erred in\ndeleting the disallowance made

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

Section 153A of the Income-\ntax Act, 1961?\n2. On the facts and circumstances of the case, the learned CIT(A) has erred in\ndeleting the addition made on account of an agriculture income, amounting\nRs. 1,61,800/-.\n3. On the facts and circumstances of the case, the learned CIT(A) has erred in\ndeleting the disallowance made

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

Section 153A of the Income-\ntax Act, 1961?\n2. On the facts and circumstances of the case, the learned CIT(A) has erred in\ndeleting the addition made on account of an agriculture income, amounting\nRs. 1,61,800/-.\n3. On the facts and circumstances of the case, the learned CIT(A) has erred in\ndeleting the disallowance made

MAYUR KHARA,YAVATMAL vs. PRINCIPAL COMMISSIONER OF INCOME TAX-2, NAGPUR

In the result, Both the appeals of above mentioned assessee’s are allowed

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year: 2016-17 Shri Mayur Khara Vs. The Pcit Datta Chowk Nagpur-2 Yavatmalm 445 001 (Maharastra) Pan No.:Abwpk 8869 N Appellant Respondent Assessment Year: 2016-17 Shri Amit Khara Vs. The Pcit Datta Chowk Nagpur-2 Yavatmalm 445 001 (Maharastra) Pan No.:Abwpk 8868 P Appellant Respondent Assessee By: Shri Mahavir Atal, Ca Revenue By :Shri Piyush Kolhe (Cit-Dr) Date Of Hearing: 28/04/2022 Date Of Pronouncement: 28 /06 /2022 Order Per: Sandeep Gosain, J.M. Both These Appeals Have Been Filed By The Above Mentioned Assessees Against Two Different Orders Passed U/S 263 Of The Act By The Ld. Pr.Cit, Nagpur- 2 Dated 17-02-2017 & 16-02-20217 For The Assessment Year 2016-17 Respectively. The Grounds Of Raised By The Above Mentioned Assessees Are As Under:-

depreciation was claimed in excess has not been undertaken by the Pr. CIT. He had exercised the second option available to him under section 263(1) of the Act by sending the entire matter back to the assessing officer for a fresh assessment. That option, in the considered view of the Court, can be exercised only after

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

37,909. The return of income filed by the assessee was selected for scrutiny and statutory notices under the Income Tax Act, 1961 (in short the Act) were issued and complied with. In the assessment completed under section 143(3) of the Act on 31-12-2018, the learned assessing officer disallowed the claim of the assessee for deduction 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

section 37 (1) of the Act. The expenditure which is treated as deferred revenue in the books, almost in all cases comprises of items, the benefits derived wherefrom are ephemeral and transitory in nature in as much as these are incurred as a part of a continuous process and need to be expended in order to generate and increase

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

depreciation is covered by the Co–ordinate Bench decision rendered in assessee’s own case ITA no.114/Nag./2009 (AY 2004-05) and decision of the Hon’ble Bombay High court assessee’s sister concern’s case in M/s. R.B. Seth, Shriram Narsingdas (supra) wherein the issue has been decided in favour of the assessee and against the Revenue. The facts

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

depreciation is covered by the Co–ordinate Bench decision rendered in assessee’s own case ITA no.114/Nag./2009 (AY 2004-05) and decision of the Hon’ble Bombay High court assessee’s sister concern’s case in M/s. R.B. Seth, Shriram Narsingdas (supra) wherein the issue has been decided in favour of the assessee and against the Revenue. The facts

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

depreciation is covered by the Co–ordinate Bench decision rendered in assessee’s own case ITA no.114/Nag./2009 (AY 2004-05) and decision of the Hon’ble Bombay High court assessee’s sister concern’s case in M/s. R.B. Seth, Shriram Narsingdas (supra) wherein the issue has been decided in favour of the assessee and against the Revenue. The facts

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

depreciation is covered by the Co–ordinate Bench decision rendered in assessee’s own case ITA no.114/Nag./2009 (AY 2004-05) and decision of the Hon’ble Bombay High court assessee’s sister concern’s case in M/s. R.B. Seth, Shriram Narsingdas (supra) wherein the issue has been decided in favour of the assessee and against the Revenue. The facts

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

depreciation is covered by the Co–ordinate Bench decision rendered in assessee’s own case ITA no.114/Nag./2009 (AY 2004-05) and decision of the Hon’ble Bombay High court assessee’s sister concern’s case in M/s. R.B. Seth, Shriram Narsingdas (supra) wherein the issue has been decided in favour of the assessee and against the Revenue. The facts

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

depreciation is covered by the Co–ordinate Bench decision rendered in assessee’s own case ITA no.114/Nag./2009 (AY 2004-05) and decision of the Hon’ble Bombay High court assessee’s sister concern’s case in M/s. R.B. Seth, Shriram Narsingdas (supra) wherein the issue has been decided in favour of the assessee and against the Revenue. The facts

M/S SHREE TRADERS ,BULDHANA vs. ASSISTANT COMMISSIONER OF INCOME TAX, AKOLA CIRCLE, AKOLA

In the result, the appeal of assessee is dismissed

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

37,18,330/- and under scrutiny by issuing notices u/s. 143(2) and 142(1) of the Act, the AO completed the assessment by determining the income of the assessee at Rs.1,71,61,882/- inter alia denying set off of carry forward business loss against the capital gain. The CIT(A) confirmed the same. Aggrieved by the order