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

9 of the impounded documents marked as Annexure–B/4, noted that there are entries of cash transaction of Shri P.D. Vyas, promoter of M/s. Vedsiddha Products P. Ltd. and he has been paying interest in cash to the trust through Shri Sachin Agnihotri. The Assessing Officer further noted that Shri Sachin Agnihotri was receiving interest on behalf of the assessee

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

9 of the impounded documents marked as Annexure–B/4, noted that there are entries of cash transaction of Shri P.D. Vyas, promoter of M/s. Vedsiddha Products P. Ltd. and he has been paying interest in cash to the trust through Shri Sachin Agnihotri. The Assessing Officer further noted that Shri Sachin Agnihotri was receiving interest on behalf of the assessee

RAGHAV AGRITECH,NAGPUR vs. ITO WARD 3(4), NAGPUR

In the result, appeal filed by the assessee is allowed

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

depreciation claimed by it. The assessee being aggrieved filed appeal before the first appellate authority. 5. The learned CIT(A) confirmed the order passed by the Assessing Officer by observing as under:– “As can be seen from the above Sec. 40(a) does not make any distinction between revenue expenditure and capital expenditure. Therefore, Sec. 40(a)(i) covers both

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

depreciation under section 32 of the Act and as a consequence to this decision the Legislature had to amend the provisions of section 32 with effect from 1-4-1997 by using the expression “owned wholly or partly”. Since no such words are expressively mentioned in Section 54F, in our considered view the word “own” in section 54F would include

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

9. On a conjoint reading of sections 80A(5) and 80AC, it gets manifest that claiming of deduction under various sections of Part C of Chapter VI-A in the return of income is essential. However, an additional requirement for claiming deduction under sections

ASSISTANT COMMISSIONER OF INCOME TAX , AKOLA CIRCLE , AKOLA vs. THE BULDHANA DISTRICT CENTRAL CO-OP BANK LIMITED , BULDHANA

In the result, appeal filed by the revenue is dismissed

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

9,17,22,792, including unabsorbed depreciation of ` 32,80,263. The return of income was processed under section 143(1) of the Income

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

9 Smt. AanjuSaraf that the provisions of assessment in the case of search under Section 153A have been inserted by the Finance Act, 2003 w.e.f. 1st June, 2003. These provisions are successor of the special procedure for assessment of search cases under Chapter XIV-B starting with Section 158B. Whereas Chapter XIV-B required the assessment of “undisclosed income

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

9 Smt. AanjuSaraf that the provisions of assessment in the case of search under Section 153A have been inserted by the Finance Act, 2003 w.e.f. 1st June, 2003. These provisions are successor of the special procedure for assessment of search cases under Chapter XIV-B starting with Section 158B. Whereas Chapter XIV-B required the assessment of “undisclosed income

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

9 Smt. AanjuSaraf that the provisions of assessment in the case of search under Section 153A have been inserted by the Finance Act, 2003 w.e.f. 1st June, 2003. These provisions are successor of the special procedure for assessment of search cases under Chapter XIV-B starting with Section 158B. Whereas Chapter XIV-B required the assessment of “undisclosed income

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

9 Smt. AanjuSaraf that the provisions of assessment in the case of search under Section 153A have been inserted by the Finance Act, 2003 w.e.f. 1st June, 2003. These provisions are successor of the special procedure for assessment of search cases under Chapter XIV-B starting with Section 158B. Whereas Chapter XIV-B required the assessment of “undisclosed income

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

9 Smt. AanjuSaraf that the provisions of assessment in the case of search under Section 153A have been inserted by the Finance Act, 2003 w.e.f. 1st June, 2003. These provisions are successor of the special procedure for assessment of search cases under Chapter XIV-B starting with Section 158B. Whereas Chapter XIV-B required the assessment of “undisclosed income

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

9 Smt. AanjuSaraf that the provisions of assessment in the case of search under Section 153A have been inserted by the Finance Act, 2003 w.e.f. 1st June, 2003. These provisions are successor of the special procedure for assessment of search cases under Chapter XIV-B starting with Section 158B. Whereas Chapter XIV-B required the assessment of “undisclosed income

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

9,17,22,792, including unabsorbed depreciation of ` 32,80,263. The return of income was processed under section 143(1) of the Income

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

SHRI MAHESH DEVDUTTA GUPTA,,NAGPUR vs. ACIT, CENTRAL CIRCLE- 2(3),, NAGPUR

In the result, the addition so made is directed to be deleted and the ground of appeal is allowed

Bench: Shri Vikram Singh Yadav & Shri Yogesh Kumar U.S

depreciation of Car, Insurance, interest on car loan and conveyance as personal expenses. On the facts and in the circumstances of the case the action of the learned authorities is arbitrary and hence unjustified. Alternatively the disallowance is on higher side. 4 ITANo.143/Nag/2017 (9) That the learned CIT(A) erred in law and on facts in confirming and upholding

THE AMRAVATI PEOPLE CO-OP BANK LTD ( NOW MERGED IN THE COSMOS CO-OP BANK LTD),AMARAVATI vs. D.C.I.T. AMRAVATI CIRCLE, AMARAVATI

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकरअपीलसं. / Ita No. 309/Nag/2015 "नधा"रणवष" / Assessment Year : 2008-09 The Amravati Peoples Co-Op. Bank Limited (Now Merged In The Cosmos Co-Op. Bank Ltd.) C/O. Cosmos Co-Op Bank Ltd. Jawahar Road, Amravati-444601. Pan : Aaact5899B .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax, Amravati Circle, Amravati. ……""यथ" / Respondent Assessee By : Shri S.G. Gandhi, Ar Revenue By : Smt. Agnes P. Thomas, Dr सुनवाईक"तार"ख / Date Of Hearing : 18.02.2022 घोषणाक"तार"ख / Date Of Pronouncement : 09.05.2022

depreciation allowance, in the following manner, to the extent available" is as under:- Asst. Year Remarks S. Nature of Amount as Amount as No. loss/allowance ( returned (in assessed ( give rupees) in rupees) reference to relevant order) 1. 2002-03 Business loss 28858541 Not available 98748798 2. 2004-05 Business loss 36762850 -Do- 3479468 Total 10,22,28,266/- The assessment

TERRA INFRA DEVELOPMENT LIMITED,NAGPUR vs. ACIT CIRCLE-3, NAGPUR

In the result, appeal filed by the assessee is allowed

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

9, has noted that the amount of depreciation is liable for taxation since the use towards business could not be substantiated by the assessee. The interest on TDS paid by the assessee being penal in nature hence the Assessing Officer was justified in disallowing the same. The learned CIT(A) in its order vide Para–6 at Page

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

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

depreciation debited to the profit and loss account can be excluded in terms of clause (i) of the Explanation to sub-section (2) of section 115JB of the Act read with proviso considered the object of inserting clauses (i) to (vii) of the Explanation to the said section. The Supreme Court held that the object of clause