DURGAPUR RAYATWARI COLLIERY KAMGAR SAHAKARI PAT SANSTHA,CHANDRAPUR vs. ITO WARD-2, CHANDRAPUR

In the result, appeal filed by the assessee is partly allowed

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

194A(3)(v), co-operative banks have been excluded from the definition of 'co-operative society by the Finance Act, 2015. The High Court of Karnataka has held that the effect of the aforesaid amendment explicitly makes clear intention of legislation that co-operative banks are not specie of genus co-operative society, which would be entitled to exemption

M/S TAWARI TRADERS ,BULDHANA vs. INCOME TAX OFFICER WARD -2, KHAMGAON

In the result, appeal by the assessee stands dismissed

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

194A vis- à-vis section 40(a)(ia), the appellant submitted as under: "Alternatively and without prejudice to the above, if it is presumed that the charges, paid to Shri. Shivnathrai S. Agrawal, is nothing but interest, still the provisions of section 40(a)(ia) are not applicable to the facts of the case. For the said amount of interest

VIVEKANAND NAGRI SAHAKARI PAT SANSTHA MARYADIT,PULGAON vs. INCOME TAX OFFICER, WARD-2, WARDHA

In the result, appeal filed by the assessee for A

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

3. In the present appeal, the only issue that we need to adjudicate is, whether or not the learned CIT(A) was justified in confirming the addition of ` 5,84,367, made by the Assessing Officer for non–deduction of TDS under section 40(a)(ia) of the Income Tax Act, 1961 ("the Act"). 4. Facts in Brief:– The assessee

VIVEKANAND NAGRI SAHAKARI PAT SANSTHA MARYADIT,PULGAON vs. INCOME TAX OFFICER, WARD-2, WARDHA

In the result, appeal filed by the assessee for A

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

3. In the present appeal, the only issue that we need to adjudicate is, whether or not the learned CIT(A) was justified in confirming the addition of ` 5,84,367, made by the Assessing Officer for non–deduction of TDS under section 40(a)(ia) of the Income Tax Act, 1961 ("the Act"). 4. Facts in Brief:– The assessee

VIVEKANAND NAGRI SAHAKARI PAT SANSTHA MARYADIT,PULGAON vs. INCOME TAX OFFICER, WARD-2, WARDHA

In the result, appeal filed by the assessee for A

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

3. In the present appeal, the only issue that we need to adjudicate is, whether or not the learned CIT(A) was justified in confirming the addition of ` 5,84,367, made by the Assessing Officer for non–deduction of TDS under section 40(a)(ia) of the Income Tax Act, 1961 ("the Act"). 4. Facts in Brief:– The assessee

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

v. CIT[2016] 236 Taxman 447[2015] 63 taxmann.com 308/379 ITR 0347 wherein it was held that once it was established that there was nexus between expenditure and purpose of business, Revenue could not justifiably claim to put itself in the arm-chair of a businessman or in the position of Board of Directors and decide how much was reasonable

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

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member Avantha Holdings Ltd. Ballarpur Paper Mills S.O. Ballarpur 442 901 Pan – Aabcb6134E Appellant Dy. Commissioner Of Income Tax Circle-4, Nagpur Respondent V/S

disallowances made by the AO of premium on zero percent fully redeemable non-convertible marketable debentures of Rs. 66.73 crore without appreciating the fact that the same does not amount to the expenditure. Since it is not at all payable by the assessee on ZCNCD. Secondly, since this premium amount was not claimed in return of income as per decision

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

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member Avantha Holdings Ltd. Ballarpur Paper Mills S.O. Ballarpur 442 901 Pan – Aabcb6134E Appellant

disallowances made by the AO of premium on zero percent fully redeemable non-convertible marketable debentures of Rs. 66.73 crore without appreciating the fact that the same does not amount to the expenditure. Since it is not at all payable by the assessee on ZCNCD. Secondly, since this premium amount was not claimed in return of income as per decision

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

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member Avantha Holdings Ltd. Ballarpur Paper Mills S.O. Ballarpur 442 901 Pan – Aabcb6134E

disallowances made by the AO of premium on zero percent fully redeemable non-convertible marketable debentures of Rs. 66.73 crore without appreciating the fact that the same does not amount to the expenditure. Since it is not at all payable by the assessee on ZCNCD. Secondly, since this premium amount was not claimed in return of income as per decision