M/S MAHESHWARI COAL BENEFICATION& INFRASTRUCTURE P. LTD,BILASPUR vs. DCIT CENTRAL CIRCLE-1(1), NAGPUR

In the result, appeals for the assessment year 2009–10 to 2013–14 are partly allowed

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

section 153A(1) read with „Expln-2‟; in absence of this, assessment made u/s153C would be invalid & is liable to be quashed; relied on Goldstone Cements Ltd (2023) (Gau HC); Fortune Vanijya (P) Ltd (2023) (Gau HC).” 40. In the appeal of the assessee bearing ITA No.111/Nag/ 2024, for the assessment year 2012-13 along with following additional ground

M/S MAHESHWARI COAL BENEFICATION& INFRASTRUCTURE P. LTD,BILASPUR vs. DCIT CENTRAL CIRCLE-1(1), NAGPUR

In the result, appeals for the assessment year 2009–10 to 2013–14 are partly allowed

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

section 153A(1) read with „Expln-2‟; in absence of this, assessment made u/s153C would be invalid & is liable to be quashed; relied on Goldstone Cements Ltd (2023) (Gau HC); Fortune Vanijya (P) Ltd (2023) (Gau HC).” 40. In the appeal of the assessee bearing ITA No.111/Nag/ 2024, for the assessment year 2012-13 along with following additional ground

M/S MAHESHWARI COAL BENEFICATION & INFRASTRUCTURE P. LTD,BILASPUR vs. DCIT CENTRAL CIRCLE-1(1), NAGPUR

In the result, appeals for the assessment year 2009–10 to 2013–14 are partly allowed

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

section 153A(1) read with „Expln-2‟; in absence of this, assessment made u/s153C would be invalid & is liable to be quashed; relied on Goldstone Cements Ltd (2023) (Gau HC); Fortune Vanijya (P) Ltd (2023) (Gau HC).” 40. In the appeal of the assessee bearing ITA No.111/Nag/ 2024, for the assessment year 2012-13 along with following additional ground

ACIT-CENTRAL CIRCLE -2(1), NAGPUR vs. SHRI NANDKUMAR KHATTUMAL HARCHANDANI , NAGPUR

section 10(34) of the Act and claimed expenditure at ₹ 15,75,789, in the return of income. The Assessing Officer has made disallowance

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

section 80P may be allowed in the light of above discussion. This ground is partly allowed for statistical purpose. 10. Ground No. 5 : This addition pertains to disallowance made by the AO towards PF/ESIC payment claimed by the appellant. The AO contended that the appellant had not made the payments of Rs. 12,34

ITO WARD-1(1) NAGPUR, NAGPUR vs. ASHWAMI SALES AND MARKETING PVT.LTD, NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

10) When on the basis of the record it is not disputed that the requirements of further proviso were fulfilled, the assessee was not required to make any deduction at source on the payments made to the sub-contractors. If that be our conclusion, application of section 40(a)(ia) would not arise since, as already noticed, section

ATUL MANOHARRAO YAMSANWAR,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE 2(1), NAGPUR

In the result, appeal of the Assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri K.M. Roy, Hon’Ble Accountant, Member Atul Manoharrao Yamsanwar V. Acit – Central Circle – 2(1) Plot No. 33, Manoharrao Room No. 312, 3Rd Floor Khare Town, Dharampeth Aayakar Bhavan, Telangkhedi Road Nagpur - 440010 Civil Lines, Nagpur - 440001 Pan – Aaepy4543Q (Appellant) (Respondent)

disallowances where no incriminating evidence was found during the search proceeding at the premise of the assessee. 3. Whether the Ld. CIT is justified in law and fact for upholding an additions to the tune of Rs. 24,21,318/- as unexplained income under Sec 69A 4. Whether the Ld. CIT is justified in law and fact for upholding

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

34 ITR 729) (Cal.); CIT v Pran Jiban Jaitha (52 ITR 108) (Cal.); and Chibbett v Joseph (9 TC 48). Taxability of income and capital receipt: The income of a previous year is always subject to tax in the assessment year. Thus, income is always taxable unless exempted. However, the capital receipt shall not be subject to tax unless expressly

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

34 ITR 729) (Cal.); CIT v Pran Jiban Jaitha (52 ITR 108) (Cal.); and Chibbett v Joseph (9 TC 48). Taxability of income and capital receipt: The income of a previous year is always subject to tax in the assessment year. Thus, income is always taxable unless exempted. However, the capital receipt shall not be subject to tax unless expressly

ACIT-CENTRAL CIRCLE -2(1), NAGPUR vs. SHRI NANDKUMAR KHATTUMAL HARCHANDANI , NAGPUR

In the result, appeal of the Revenue stands dismissed

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

disallowance of exemption u/s. 10(38) of Rs. 5,60,75,185/- is directed to be deleted. Hence these grounds are allowed.” Since the learned CIT(A) decided the aforesaid issue in favour of the assessee, the Revenue being aggrieved filed appeal before Tribunal. Ground no I(i) to (xxiv) 10. The learned Departmental Representative assailing the impugned order passed

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 is dismissed

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

34) (iii) ` 20,15,681 treated as income from other sources Unsecured loan as under treated unexplained ` 68,02,624 (iv) Dharampal Agarwal HUF Rs. 59,12,624 Agarwal Enterprises Rs. 8,90,000 Sundry Creditors treated as unexplained ` 2,10,060 (v) Interest paid disallowed (vi) ` 7,86,217 Adhoc disallowances out of (vii) following expenses Remuneration

DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCEL-1(2, NAGPUR vs. M/S. VIBRANT GLOBAL CAPITAL LTD., MUMBAI

In the result, appeal filed by the Revenue is dismissed

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

disallowed the expenditure claimed against abandonment of construction of a new warehouse. The assessee appealed against the assessment order, and the CIT(A) held that when construction/acquisition of nw facility is abandoned at the work-in- progress stage, the expenditure does not result in an enduring advantage 33 M/s. Vibrant Global Capital Ltd. ITA no.229/Nag./2022 and such expenditure, when

M/S. JAIKA AUTOMOBILES AND FINANCE PVT. LTD.,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, NAGPUR

In the result, the appeal filed by the assessee in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita No.193/Nag/2022 िनधा"रण वष" / Assessment Year : 2017-18 M/S. Jaika Automobiles & Vs. Acit, Circle-2, Nagpur. Finance Pvt. Ltd., Jaika Building, Commercial Road, Civil Lines, Nagpur- 440001. Pan : Aaacj3178K Appellant Respondent आयकर अपील सं. / Ita No.267/Nag/2022 िनधा"रण वष" / Assessment Year : 2018-19 M/S. Jaika Automobiles Pvt. Vs. Dcit, Cpc, Bangalore. Ltd., Jaika Building, Commercial Road, Civil Lines, Nagpur- 440001. Pan : Aaacj4462A Appellant Respondent Assessee By : Shri K. P. Dewani Revenue By : Shri Vijay Kumar Subrahmanyan Date Of Hearing : 18.12.2023 Date Of Pronouncement : 19.12.2023 आदेश / Order Per Inturi Rama Rao, Am: These Are The Appeals Filed By The Assessee Directed Against The Separate Orders Of The National Faceless Appeal Centre, Delhi [‘Nfac’) Dated 15.03.2022 & 23.12.2021 For The Assessment Years 2017-18 & 2018-19 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In Both The Above Captioned Appeals Of The Assessee, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal Of The Assessee In Ita No.267/Nag/2022 For The Assessment Year 2018-19 Are Stated Herein.

34 of 1948), or any other fund for the welfare of such employees’. Thus, contribution by employees to the relevant funds becomes income of the employer. Instantly, there is no dispute as to the taxability of such income in the hands of the assessee. Once such an amount becomes income of the employer-assessee, then section 36(1)(va) comes

M/S. JAIKA AUTOMOBILES PVT. LTD. ,NAGPUR vs. DEPUTY COMMIISSIONER OF INCOME TAX,CPC, BANGALORE

In the result, the appeal filed by the assessee in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita No.193/Nag/2022 िनधा"रण वष" / Assessment Year : 2017-18 M/S. Jaika Automobiles & Vs. Acit, Circle-2, Nagpur. Finance Pvt. Ltd., Jaika Building, Commercial Road, Civil Lines, Nagpur- 440001. Pan : Aaacj3178K Appellant Respondent आयकर अपील सं. / Ita No.267/Nag/2022 िनधा"रण वष" / Assessment Year : 2018-19 M/S. Jaika Automobiles Pvt. Vs. Dcit, Cpc, Bangalore. Ltd., Jaika Building, Commercial Road, Civil Lines, Nagpur- 440001. Pan : Aaacj4462A Appellant Respondent Assessee By : Shri K. P. Dewani Revenue By : Shri Vijay Kumar Subrahmanyan Date Of Hearing : 18.12.2023 Date Of Pronouncement : 19.12.2023 आदेश / Order Per Inturi Rama Rao, Am: These Are The Appeals Filed By The Assessee Directed Against The Separate Orders Of The National Faceless Appeal Centre, Delhi [‘Nfac’) Dated 15.03.2022 & 23.12.2021 For The Assessment Years 2017-18 & 2018-19 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In Both The Above Captioned Appeals Of The Assessee, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal Of The Assessee In Ita No.267/Nag/2022 For The Assessment Year 2018-19 Are Stated Herein.

34 of 1948), or any other fund for the welfare of such employees’. Thus, contribution by employees to the relevant funds becomes income of the employer. Instantly, there is no dispute as to the taxability of such income in the hands of the assessee. Once such an amount becomes income of the employer-assessee, then section 36(1)(va) comes

VIDHARBHA KONKAN GRAMIN BANK ,NAGPUR vs. INCOME TAX OFFICER WARD 1(5) , NAGPUR

In the result, appeal filed by the assessee for A

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

10. Section 36(1) (viii) of the Act provides as under :- “36(1) The deductions provided for in the following clauses shall be allowed in respect of the matters dealt with therein, in computing the income referred to in section 28- (1) ** ** ** (viii) in respect of any special reserve created and maintained by a specified entity, an amount not exceeding

VIDHARBHA KONKAN GRAMIN BANK ,NAGPUR vs. INCOME TAX OFFICER WARD 1(5) , NAGPUR

In the result, appeal filed by the assessee for A

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

10. Section 36(1) (viii) of the Act provides as under :- “36(1) The deductions provided for in the following clauses shall be allowed in respect of the matters dealt with therein, in computing the income referred to in section 28- (1) ** ** ** (viii) in respect of any special reserve created and maintained by a specified entity, an amount not exceeding

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

10 Jaymahakali Shikshan Sanstha A.Y. 2017–18, 2018–19 & 2019–20 "28.6 It may be noted that new sub-section (1A) inserted in section 161 of the IT Act, which provides for taxation of the entire income received by trusts at the maximum marginal rates is applicable only in the case of private trusts having profits and gains of business

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

10 Jaymahakali Shikshan Sanstha A.Y. 2017–18, 2018–19 & 2019–20 "28.6 It may be noted that new sub-section (1A) inserted in section 161 of the IT Act, which provides for taxation of the entire income received by trusts at the maximum marginal rates is applicable only in the case of private trusts having profits and gains of business