ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), NAGPUR vs. M/S. RADHA RADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

153, the assessment or reassessment relating to any assessment year which has abated under the second proviso to sub- section (1), shall stand revived with effect from the date of receipt of the order of such annulment by the Commissioner. Therefore, the intention of the legislation seems to be that in case of search only the pending assessment/reassessment proceedings shall

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), NAGPUR vs. M/S. RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

153, the assessment or reassessment relating to any assessment year which has abated under the second proviso to sub- section (1), shall stand revived with effect from the date of receipt of the order of such annulment by the Commissioner. Therefore, the intention of the legislation seems to be that in case of search only the pending assessment/reassessment proceedings shall

ASSTT.COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(1), NAGPUR vs. M/S RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

153, the assessment or reassessment relating to any assessment year which has abated under the second proviso to sub- section (1), shall stand revived with effect from the date of receipt of the order of such annulment by the Commissioner. Therefore, the intention of the legislation seems to be that in case of search only the pending assessment/reassessment proceedings shall

ASSTT.COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(1), NAGPUR vs. M/S RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

153, the assessment or reassessment relating to any assessment year which has abated under the second proviso to sub- section (1), shall stand revived with effect from the date of receipt of the order of such annulment by the Commissioner. Therefore, the intention of the legislation seems to be that in case of search only the pending assessment/reassessment proceedings shall

RADHEY MINERALS LTD,,NAGPUR vs. THE ACIT, CENTRAL-CIRCLE-2(3),, NAGPUR

In the result these appeals filed by the assessee stand allowed

Bench: Shri Shamim Yahya & Shri Ram Lal Negi.. S.No.

disallowing Rs.21,55,722/-/-, Rs.36,87,787/- and Rs.44,19,031/- for A.Ys. 2007-08, 2008-09 and 2009-10 respectively from out of financial expenses and the learned CIT(A) was unjustified in only partly allowing the expenditure. On the facts and circumstances of the case, the expenditure is incurred for the purpose of business and therefore allowable

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

153, the assessment or reassessment relating to any assessment year which has abated under the second proviso to sub-section (1), shall stand revived with effect from the date of receipt of the order of such anmilment by the Commissioner. Therefore, the intention of the 11 M/s. Shree Agarwal Coal India Pvt. Ltd.& Group Cases legislation seems to be that

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

153, the assessment or reassessment relating to any assessment year which has abated under the second proviso to sub-section (1), shall stand revived with effect from the date of receipt of the order of such anmilment by the Commissioner. Therefore, the intention of the 11 M/s. Shree Agarwal Coal India Pvt. Ltd.& Group Cases legislation seems to be that

A,C.I.T. CENTRAL CIR.- 2(2), NAGPUR vs. SHRI DHARAMPAL R.AGRAWAL, NAGPUR

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

153, the assessment or reassessment relating to any assessment year which has abated under the second proviso to sub-section (1), shall stand revived with effect from the date of receipt of the order of such anmilment by the Commissioner. Therefore, the intention of the legislation seems to be that in case of search only the pending assessment reassessment proceedings

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. M/S SHREE AGRAWAL FINANCE INDIA P. LTD.,, NAGPUR

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

153, the assessment or reassessment relating to any assessment year which has abated under the second proviso to sub-section (1), shall stand revived with effect from the date of receipt of the order of such anmilment by the Commissioner. Therefore, the intention of the 11 M/s. Shree Agarwal Coal India Pvt. Ltd. & Group Cases legislation seems to be that

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. M/S SHREE AGRAWAL FINANCE INDIA P. LTD.,, NAGPUR

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

153, the assessment or reassessment relating to any assessment year which has abated under the second proviso to sub-section (1), shall stand revived with effect from the date of receipt of the order of such anmilment by the Commissioner. Therefore, the intention of the 11 M/s. Shree Agarwal Coal India Pvt. Ltd. & Group Cases legislation seems to be that

M/S SMS INFRASTRUCTURE LTD,NAGPUR vs. D.C.I.T. CENTRALCIRCLE 2(3), NAGPUR

In the result, assessee’s appeal is dismissed

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

153, which was allowed under section 80IA of the Act, for the reason that the return of income filed by the assessee on 08/12/2008, was a belated return of income and, therefore, as per the provisions of section 80AC of the Act, no deduction under section 80IA of the Act would be allowed to the assessee. The assessee filed

DY. C.I.T. CENTRAL CIR2(2), NAGPUR vs. M/S SHREE AGRAWAL COAL INDIA PVT. LTD.,, NAGPUR

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

disallowance of bad debts and EMD lapsed amounting to Rs. 3,27,930/-. 12. Any other ground that may be urged at the time of hearing." 4. Facts in Brief:- During the year, the assessee herein was engaged in the business of trading and liasoning of coal and wind power. On 16/03/2011, a search and seizure action was conducted

DY. C.I.T. CENTRAL CIR.-1(3), NAGPUR vs. M/S SPACEWOOD FURNISHERS PVT. LTD, NAGPUR

In the result, the appeal of the Department is dismissed and the C

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year : 2008-09 The Dcit Vs. M/S. Spacewood Furnishers Pvt. Ltd. Central Circle 1(3) T-48, Midc, Hinga, Nagpur Nagpur Pan No.: Aaccs 4955 R Appellant Respondent

disallowed in 153-A assessment proceedings? It is further submitted by the learned A.R. that various Tribunals and various High Courts including jurisdictional High Court of Bombay have all held that in absence of any incriminating material found during the course of search the concluded assessments cannot be interfered with. It is an admitted position that no incriminating material

ZIM LABORATORIES LIMITED ,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -2(1), NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

disallowance of depreciation of Rs. 14,33,776/- on air handling system purchased from M/s Real Traders being bogus purchases of capital goods without going into the merits of the case. 3. On the facts and circumstances of the case and in law, the Ld. CIT(A) erred in holding that during assessment u/s 153 A r.w.s

ZIM LABORATORIES LIMITED ,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -2(1), NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

disallowance of depreciation of Rs. 14,33,776/- on air handling system purchased from M/s Real Traders being bogus purchases of capital goods without going into the merits of the case. 3. On the facts and circumstances of the case and in law, the Ld. CIT(A) erred in holding that during assessment u/s 153 A r.w.s

ZIM LABORATORIES LIMITED ,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -2(1), NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

disallowance of depreciation of Rs. 14,33,776/- on air handling system purchased from M/s Real Traders being bogus purchases of capital goods without going into the merits of the case. 3. On the facts and circumstances of the case and in law, the Ld. CIT(A) erred in holding that during assessment u/s 153 A r.w.s

SANJAY GULABCHAND GUPTA,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX,CIRCLE-4, NAGPUR

In the result, appeal by the assessee stands dismissed

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

disallowed for above reasons. Pertinent to note is that there is no dispute regarding cost of construction of residential House Property at Rs. 2,68,73,530/-. There is no dispute that construction of residential house commenced in Asst Year 2015-16 and was completed in Asst year 2017-18. 5. Appellant takes each issue hereunder :- 1. Assessee

SHRI SANJAY DHANRAJ JAIN,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), NAGPUR

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

section 68 of the Income-tax Act and consequently deleted the disallowance of Rs. 3,10,478/-, which was made with respect to interest and when the same has been confirmed by the ITAT, it cannot be said that ITAT has committed any error and/or illegality, which calls for the interference of this Court. In paragraph 11, ITAT has observed