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

5. The question which is posed for consideration in the present set of appeals is, as to whether in respect of completed assessments/unabated assessments, whether the jurisdiction of AO to make assessment is confined to incriminating material found during the course of search under Section 132 or requisition under Section 132A or not, i.e., whether any addition can be made

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

5. The question which is posed for consideration in the present set of appeals is, as to whether in respect of completed assessments/unabated assessments, whether the jurisdiction of AO to make assessment is confined to incriminating material found during the course of search under Section 132 or requisition under Section 132A or not, i.e., whether any addition can be made

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1),NAGPUR, 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

5. The question which is posed for consideration in the present set of appeals is, as to whether in respect of completed assessments/unabated assessments, whether the jurisdiction of AO to make assessment is confined to incriminating material found during the course of search under Section 132 or requisition under Section 132A or not, i.e., whether any addition can be made

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

5. The question which is posed for consideration in the present set of appeals is, as to whether in respect of completed assessments/unabated assessments, whether the jurisdiction of AO to make assessment is confined to incriminating material found during the course of search under Section 132 or requisition under Section 132A or not, i.e., whether any addition can be made

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

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

153 C of the IT Act, 1961, to initiate assessment proceedings u/s 153C of the IT Act, 1961 for A.Ys 2011- 12 to 2013- 14.” – (Yadav Akash Bhaskar) Asstt. Commissioner of Income Tax Central Circle–1(1), Nagpur” 33. In view of the aforesaid discussion, we find that it is an admitted position that the consolidated satisfaction note was recorded

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

153 C of the IT Act, 1961, to initiate assessment proceedings u/s 153C of the IT Act, 1961 for A.Ys 2011- 12 to 2013- 14.” – (Yadav Akash Bhaskar) Asstt. Commissioner of Income Tax Central Circle–1(1), Nagpur” 33. In view of the aforesaid discussion, we find that it is an admitted position that the consolidated satisfaction note was recorded

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

153 C of the IT Act, 1961, to initiate assessment proceedings u/s 153C of the IT Act, 1961 for A.Ys 2011- 12 to 2013- 14.” – (Yadav Akash Bhaskar) Asstt. Commissioner of Income Tax Central Circle–1(1), Nagpur” 33. In view of the aforesaid discussion, we find that it is an admitted position that the consolidated satisfaction note was recorded

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

153 C of the IT Act, 1961, to initiate assessment proceedings u/s 153C of the IT Act, 1961 for A.Ys 2011- 12 to 2013- 14.” – (Yadav Akash Bhaskar) Asstt. Commissioner of Income Tax Central Circle–1(1), Nagpur” 33. In view of the aforesaid discussion, we find that it is an admitted position that the consolidated satisfaction note was recorded

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

153 C of the IT Act, 1961, to initiate assessment proceedings u/s 153C of the IT Act, 1961 for A.Ys 2011- 12 to 2013- 14.” – (Yadav Akash Bhaskar) Asstt. Commissioner of Income Tax Central Circle–1(1), Nagpur” 33. In view of the aforesaid discussion, we find that it is an admitted position that the consolidated satisfaction note was recorded

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

153-A assessment proceedings. 11 ITA619/NAG/2016 DCIT, CENTRAL CIR-1(3), NAGPUR VS SPACEWOOD FURNISHERS PVT LTD. NAGPUR Various case laws were cited in support of above proposition of law viz. (1) DCIT vs. Manish Construction of Pune Tribunal ITA No.1899 to 1908 (PN) of 2012 dt.30.06.2014, (2) Shri Bishwanath Goradia Vs. Dy.CIT CC- 3, (3) Kolkata ITA Nos.853