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

short term and long term capital gain from the transaction in shares have been allowed on identical facts in earlier assessment years and that therefore the same could not be disallowed in the year under consideration only because the transaction conferred certain benefits of the appellant. It is further stated in the said judgement that modus operandi of appellant

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

In the result, appeal filed by the assessee is dismissed

depreciation @ 40% on the cost of aircraft. Addition made by A.O. at Rs.33.82 crores is held to be unjustified and is directed to be deleted.\n15. Since the present issue is covered by the judgment of the Hon'ble Delhi High Court in CIT v/s SRC Aviation Pvt. Ltd., [2013] 37 taxmann.com 308 (Del.) and the Co-ordinate Bench decision

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

In the result, appeal filed by the assessee is dismissed

depreciation @ 40% on the cost of aircraft. Addition made by A.O. at Rs.33.82 crores is held to be unjustified and is directed to be deleted.\"\n15. Since the present issue is covered by the judgment of the Hon'ble Delhi High Court in CIT v/s SRC Aviation Pvt. Ltd., [2013] 37 taxmann.com 308 (Del.) and the Co-ordinate Bench decision

DEPUTY COMMISSIONER OF INCOME TAX, NAGPUR vs. AVANTHA HOLDINGS LIMITED, CHANDRAPUR

In the result, appeal filed by the assessee is dismissed

depreciation @ 40% on the cost of aircraft. Addition\nmade by A.O. at Rs.33.82 crores is held to be unjustified and is directed to be\ndeleted.\n15. Since the present issue is covered by the judgment of the Hon'ble Delhi\nHigh Court in CIT v/s SRC Aviation Pvt. Ltd., [2013] 37 taxmann.com 308\n(Del.) and the Co-ordinate Bench

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

depreciable asset, had wrongly allowed 4 The Vasant Co-Op. Shetkari Ginning & Pressing Factory Limited Vs. Pr. CIT indexation of its ‘cost of acquisition’ while computing the Long Term Capital Gain (for short

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

short charging of rent from the trustee is not in dispute before us. 6 Jaymahakali Shikshan Sanstha A.Y. 2017–18, 2018–19 & 2019–20 However, a question arose before us is that whether or not there remains any violation of provisions of the statute in charging rent in reduced rate and to what extent the addition ought to have been

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

short charging of rent from the trustee is not in dispute before us. 6 Jaymahakali Shikshan Sanstha A.Y. 2017–18, 2018–19 & 2019–20 However, a question arose before us is that whether or not there remains any violation of provisions of the statute in charging rent in reduced rate and to what extent the addition ought to have been

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

short charging of rent from the trustee is not in dispute before us. 6 Jaymahakali Shikshan Sanstha A.Y. 2017–18, 2018–19 & 2019–20 However, a question arose before us is that whether or not there remains any violation of provisions of the statute in charging rent in reduced rate and to what extent the addition ought to have been

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

gain. Therefore such an advance was clearly given by the assessee for the purpose of commercial expediency. • 4.4 As far as interest expenses vis-a- vis section 57 is concerned. The assessee wishes to submit that, the section 57(iii), lays down 17 Ravindra Madanlal Khandelwal ITA no.375/Nag./2024 following conditions for claim of expenditure. o The expenditure must have