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

55,68,022 which includes depreciation of ` 5,57,40,754. The Assessing Officer invoking provisions of section 11(6) of the Act disallowed depreciation by holding that the assessee trust had already claimed the purchase of asset as an application of income. 28. Before the learned CIT(A), it was the submissions of the assessee trust that it only

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

55,68,022 which includes depreciation of ` 5,57,40,754. The Assessing Officer invoking provisions of section 11(6) of the Act disallowed depreciation by holding that the assessee trust had already claimed the purchase of asset as an application of income. 28. Before the learned CIT(A), it was the submissions of the assessee trust that it only

M/S. UNIFUES LIFE SCIENCES LTD.,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX,, NAGPUR

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.419/Nag/2022 िनधा"रण वष" / Assessment Year : 2011-12 M/S.Unijules Life Sciences The Assistant Ltd., V Commissioner Of Income B 35/36, Midc Kalmehwar, S Tax, Central Circle-2(1), Nagpur – 441501. Nagpur. Pan: Aaacu8032D Appellant/ Assessee Respondent/Revenue Assessee By None. Revenue By Shri Abhay Y. Marathe – Sr.Dr Date Of Hearing 27/02/2024 Date Of Pronouncement 28/02/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeals)-3, Nagpur Under Section 250 Of The Income Tax Act, 1961 Dated 08.11.2021 Emanating From The Order Under Section 153A R.W.S 143(3) Of The Act, 1961 Dated 30.03.2016. The Grounds Of Appeal Raised By The Assessee Are As Under : M/S.Unijules Life Sciences Ltd., [A]

55,59,979 representing disallowance of depreciation on purchase of assets allegedly held bogus which is illegal, and which deserves to be deleted as per law. 7) On the facts and circumstances of the case and in law, the 2 M/s.Unijules Life Sciences Ltd., [A] assessment being a case of unabated assessment, the additions to the extent not emanated from

MOONLIGHT STUDIO,NAGPUR vs. DY. COMMISSIONER OF INCOME TAX, CPC, BANGALORE

In the result, the appeal is DISMISSED

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

depreciation of ` 2,55,974. The due date of return was 17/10/2016. However, the assessee stated that due to heavy traffic on ITR e-filing site (incometaxindiaefiling. gov.in) and slow uploading, though the entire return was ready the same could not be uploaded before 12’o clock on 17/10/2016. The same was immediately uploaded after 12’o clock on same

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

55,200/- which was purchased during the financial year 2010-11 for Rs.21,31,200/-. Applying indexation, the indexed cost of acquisition works out to Rs.30,69,408/- [2131200 X 1023/711]. Accordingly, the long term capital gain works out to Rs.83.89.792/- [11455200 – 3069408]. 7. On perusal of the return of income of the assessee, it is seen that the assessee

VASANT CO-OP SHETKARI GINNING & PRESSING FACTORY LTD.,YAVATMAL vs. PRINCIPAL COMMISSIONER OF INCOME TAX-II, NAGPUR

In the result, appeal of the assessee is partly allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita No. 29/Nag/2021 "नधा"रण वष" / Assessment Year : 2016-17 The Vasant Co-Op. Shetkari Ginning & Pressing Factory Limited; At. Yavatmal Road, Wani, Tq. Wani, Dist. Yavatmal-440 010 Pan : Aaaat1439M .......अपीलाथ" / Appellant बनाम / V/S. The Pr. Commissioner Of Income Tax-Ii, Nagpur. ……""यथ" / Respondent Assessee By : Shri Pravin Gandhi, Ar Revenue By : Shri Vitthal Bhosale, Dr

section 263 of the IT Act, 1961. 3) Assessee craves leave to add, alter or amend any of the grounds of appeal.” 3 The Vasant Co-Op. Shetkari Ginning & Pressing Factory Limited Vs. Pr. CIT 2. Succinctly stated, the assessee company which is engaged in the business of cotton ginning and pressing had e-filed its return of income

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

55. Ground No.3, 4 and 5 raised in this appeal are identical to ground Nos.1, 2 and 3 in ITA No.414/NAG/2014 of Revenue‟s appeal. Since facts and issues are common, the decision rendered in ITA No.414/NAG/2014 shall apply mutatis-mutandis to ITA No.478/NAG/2014. In this case also, we set aside the order of the Ld. CIT(A) and remit

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

55. Ground No.3, 4 and 5 raised in this appeal are identical to ground Nos.1, 2 and 3 in ITA No.414/NAG/2014 of Revenue‟s appeal. Since facts and issues are common, the decision rendered in ITA No.414/NAG/2014 shall apply mutatis-mutandis to ITA No.478/NAG/2014. In this case also, we set aside the order of the Ld. CIT(A) and remit

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

55. Ground No.3, 4 and 5 raised in this appeal are identical to ground Nos.1, 2 and 3 in ITA No.414/NAG/2014 of Revenue‟s appeal. Since facts and issues are common, the decision rendered in ITA No.414/NAG/2014 shall apply mutatis-mutandis to ITA No.478/NAG/2014. In this case also, we set aside the order of the Ld. CIT(A) and remit

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

55. Ground No.3, 4 and 5 raised in this appeal are identical to ground Nos.1, 2 and 3 in ITA No.414/NAG/2014 of Revenue‟s appeal. Since facts and issues are common, the decision rendered in ITA No.414/NAG/2014 shall apply mutatis-mutandis to ITA No.478/NAG/2014. In this case also, we set aside the order of the Ld. CIT(A) and remit

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

55. Ground No.3, 4 and 5 raised in this appeal are identical to ground Nos.1, 2 and 3 in ITA No.414/NAG/2014 of Revenue‟s appeal. Since facts and issues are common, the decision rendered in ITA No.414/NAG/2014 shall apply mutatis-mutandis to ITA No.478/NAG/2014. In this case also, we set aside the order of the Ld. CIT(A) and remit

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

55. Ground No.3, 4 and 5 raised in this appeal are identical to ground Nos.1, 2 and 3 in ITA No.414/NAG/2014 of Revenue‟s appeal. Since facts and issues are common, the decision rendered in ITA No.414/NAG/2014 shall apply mutatis-mutandis to ITA No.478/NAG/2014. In this case also, we set aside the order of the Ld. CIT(A) and remit

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

55. Ground No.3, 4 and 5 raised in this appeal are identical to ground Nos.1, 2 and 3 in ITA No.414/NAG/2014 of Revenue‟s appeal. Since facts and issues are common, the decision rendered in ITA No.414/NAG/2014 shall apply mutatis-mutandis to ITA No.478/NAG/2014. In this case also, we set aside the order of the Ld. CIT(A) and remit

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

55. Ground No.3, 4 and 5 raised in this appeal are identical to ground Nos.1, 2 and 3 in ITA No.414/NAG/2014 of Revenue‟s appeal. Since facts and issues are common, the decision rendered in ITA No.414/NAG/2014 shall apply mutatis-mutandis to ITA No.478/NAG/2014. In this case also, we set aside the order of the Ld. CIT(A) and remit

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

55. Ground No.3, 4 and 5 raised in this appeal are identical to ground Nos.1, 2 and 3 in ITA No.414/NAG/2014 of Revenue‟s appeal. Since facts and issues are common, the decision rendered in ITA No.414/NAG/2014 shall apply mutatis-mutandis to ITA No.478/NAG/2014. In this case also, we set aside the order of the Ld. CIT(A) and remit

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

55. Ground No.3, 4 and 5 raised in this appeal are identical to ground Nos.1, 2 and 3 in ITA No.414/NAG/2014 of Revenue‟s appeal. Since facts and issues are common, the decision rendered in ITA No.414/NAG/2014 shall apply mutatis-mutandis to ITA No.478/NAG/2014. In this case also, we set aside the order of the Ld. CIT(A) and remit

ASTT.COMMISSIONER OF INCOME TAX,CENTRAL CIR 2(3) R, NAGPUR vs. M GUPTA COALFIELDS & WASHERIES LTD., NAGPUR

In the result, cross objections No

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

55. Ground No.3, 4 and 5 raised in this appeal are identical to ground Nos.1, 2 and 3 in ITA No.414/NAG/2014 of Revenue‟s appeal. Since facts and issues are common, the decision rendered in ITA No.414/NAG/2014 shall apply mutatis-mutandis to ITA No.478/NAG/2014. In this case also, we set aside the order of the Ld. CIT(A) and remit

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

In the result, Department's appeal stands dismissed

depreciation has to be allowed a twice the\nnormal rate\".\n12. For manufacturing/producing of mushrooms, one building is essentially\nneeded in which the mushrooms are manufactured in racks under certain\ndegree controlled temperature and in the absence of sunlight. This crop cannot\nbe grown on open land under the sunlight and under normal weather\nconditions. Therefore, it is literally manufactured

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

depreciation alternatively allowable u/s 32 on the capital expenditure incurred by the appellant on construction of the Warehouse in accordance with section 35AD(4), not disputing the factum or quantum (except disallowance of construction expenses of Rs 1.90.70,349 discussed in succeeding paragraphs) of investment in construction of the warehouse by the appellant and its in principle eligibility for deduction