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

depreciation on wind mill. Since we have dismissed the issues while deciding the issues in Revenue‟s appeal, ground Nos. 6 and 7 of cross objections are allowed. 19. Ground No.8 is general in nature and hence, requires no adjudication. 20. In the result, cross objection (16/NAG/2014) filed by the assessee is allowed for statistical purposes. 14 Group

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

depreciation on wind mill. Since we have dismissed the issues while deciding the issues in Revenue‟s appeal, ground Nos. 6 and 7 of cross objections are allowed. 19. Ground No.8 is general in nature and hence, requires no adjudication. 20. In the result, cross objection (16/NAG/2014) filed by the assessee is allowed for statistical purposes. 14 Group

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

depreciation on wind mill. Since we have dismissed the issues while deciding the issues in Revenue‟s appeal, ground Nos. 6 and 7 of cross objections are allowed. 19. Ground No.8 is general in nature and hence, requires no adjudication. 20. In the result, cross objection (16/NAG/2014) filed by the assessee is allowed for statistical purposes. 14 Group

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

depreciation on wind mill. Since we have dismissed the issues while deciding the issues in Revenue‟s appeal, ground Nos. 6 and 7 of cross objections are allowed. 19. Ground No.8 is general in nature and hence, requires no adjudication. 20. In the result, cross objection (16/NAG/2014) filed by the assessee is allowed for statistical purposes. 14 Group

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

depreciation on wind mill. Since we have dismissed the issues while deciding the issues in Revenue‟s appeal, ground Nos. 6 and 7 of cross objections are allowed. 19. Ground No.8 is general in nature and hence, requires no adjudication. 20. In the result, cross objection (16/NAG/2014) filed by the assessee is allowed for statistical purposes. 14 Group

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

depreciation on wind mill. Since we have dismissed the issues while deciding the issues in Revenue‟s appeal, ground Nos. 6 and 7 of cross objections are allowed. 19. Ground No.8 is general in nature and hence, requires no adjudication. 20. In the result, cross objection (16/NAG/2014) filed by the assessee is allowed for statistical purposes. 14 Group

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

depreciation on wind mill. Since we have dismissed the issues while deciding the issues in Revenue‟s appeal, ground Nos. 6 and 7 of cross objections are allowed. 19. Ground No.8 is general in nature and hence, requires no adjudication. 20. In the result, cross objection (16/NAG/2014) filed by the assessee is allowed for statistical purposes. 14 Group

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

depreciation on wind mill. Since we have dismissed the issues while deciding the issues in Revenue‟s appeal, ground Nos. 6 and 7 of cross objections are allowed. 19. Ground No.8 is general in nature and hence, requires no adjudication. 20. In the result, cross objection (16/NAG/2014) filed by the assessee is allowed for statistical purposes. 14 Group

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

depreciation on wind mill. Since we have dismissed the issues while deciding the issues in Revenue‟s appeal, ground Nos. 6 and 7 of cross objections are allowed. 19. Ground No.8 is general in nature and hence, requires no adjudication. 20. In the result, cross objection (16/NAG/2014) filed by the assessee is allowed for statistical purposes. 14 Group

ECONOMIC EXPLOSIVES LIMITED,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1 (2), NAGPUR

In the result, appeal for the assessment year 2018–19 filed by the assessee is partly allowed

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

depreciable asset shall be recognized as income in accordance with the provisions of the said ICDS. The existing provisions of Explanation 10 to clause (1) of section 43 of the Income-tax Act already contained the guidance for treatment of Government grants relating to acquisition of an asset. However, there was no specific guidance available under the provisions

ECONOMIC EXPLOSIVES LIMITED,NAGPUR vs. NATIONAL E ASSESSMENT CENTRE, NEW DELHI

In the result, appeal for the assessment year 2018–19 filed by the assessee is partly allowed

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

depreciable asset shall be recognized as income in accordance with the provisions of the said ICDS. The existing provisions of Explanation 10 to clause (1) of section 43 of the Income-tax Act already contained the guidance for treatment of Government grants relating to acquisition of an asset. However, there was no specific guidance available under the provisions

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

ACIT ,CIRCLE (EXEMPTION ),NAGPUR , NAGPUR vs. M/S SIPNA SHIKSHAN PRASARAK MANDAL ,AMRAVAI , AMRAVATI

In the result, the appeal filed by the Department is dismissed

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year: 2013-14 The Acit, Vs. M/S. Sipnashikshan Prasarak Mandal Circle (Exemption), Badnera Road Amravati Amravati Pan No.:Aacts 1266 J Appellant Respondent Revenue By :Shripiyushkolhe (Cit-Dr) Assessee By: Shrihimeshdemble (Ca) Date Of Hearing: 26/04/2022 Date Of Pronouncement: 28/06/2022 Order Per: Sandeep Gosain, J.M. This Appeal Has Been Filed By The Department Against The Order Of The Ld. Cit (A)-4, Nagpur Dated 27/03/2017 Passed U/S 143(3) Of The Income Tax Act, 1961 For The A.Y. 2013-14 Wherein The Department Has Raised The Following Grounds Of Appeal.

section 11 5BBC(3) of The Income Tax Act, 1961. Without prejudice to the above, the assessee humbly submits before your honour that except for a few instances, the Ld. A.O. has not recorded any concrete evidence but has merely casually stated that some of the donors were farmers who denied to have given the donation; some of the donors

KRUSHI VIBHAG KARMCHARI VRUND SAHAKARI PATH SANSTHA MARYADIT ,WARDHA vs. INCOME TAX OFFICER , WARD-1, NAGPUR

In the result, the appeal is allowed for statistical purposes

Bench: Shri R.S. Syalनिर्धारण वषा / Assessment Year : 2009-10 Krushi Vibhag Karmchari Vs. Ito, Ward-1, Vrund Sahakari Pat Sanstha Wardha Maryadit Bajaj Building, Krushna Nagar, Wardha, Maharashtra – 442001 Pan: Aacak6196N Appellant Respondent

87,858, against which deduction was claimed u/s 80P at Rs.8,06,746. In the absence of any co-operation forthcoming from the side of the assessee, the AO was left with no option but to complete the assessment u/s 144 r.w.s. 147 at Rs.11,70,858/-, denying the benefit of deduction u/s 80P of the Act. Denial

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

depreciation of Rs. 47,53,025/-. 8. On the facts and circumstances of the case, the learned CIT(A) has erred in deleting the addition made on account of unsecured loans being unexplained credits Rs. 6,45,38,278/-. 5 M/s. Shree Agarwal Coal India Pvt. Ltd.& Group Cases 9. On the facts and circumstances of the case, the learned

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

depreciation of Rs. 47,53,025/-. 8. On the facts and circumstances of the case, the learned CIT(A) has erred in deleting the addition made on account of unsecured loans being unexplained credits Rs. 6,45,38,278/-. 5 M/s. Shree Agarwal Coal India Pvt. Ltd.& Group Cases 9. On the facts and circumstances of the case, the learned

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

87,667 8,767 50 Uday Traders 71,300 7,130 51 Umesh Laxmikant Agrawal 14,408 1,441 52 Vimlabai R Khandelwal 31,867 3,187 53 Vinodkumar Nathmal Goenka HUF 15,333 1,533 54 Khandelwal and Agrawal Jewellers 13,04,345 1,30,435 55 TJSB Saharaki Bank Ltd 53,23,055 - Total

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