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

disallowance of exemption should have been made in light of provisions of section 13(1)(c)(ii) read with section 13(3) of the Act. The relevant provisions of section 13 of the Act are reproduced below. Section 13 (1) Nothing contained in section 11 shall operate so as to exclude from the total income of the previous year

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

disallowance of exemption should have been made in light of provisions of section 13(1)(c)(ii) read with section 13(3) of the Act. The relevant provisions of section 13 of the Act are reproduced below. Section 13 (1) Nothing contained in section 11 shall operate so as to exclude from the total income of the previous year

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

disallowance of exemption should have been made in light of provisions of section 13(1)(c)(ii) read with section 13(3) of the Act. The relevant provisions of section 13 of the Act are reproduced below. Section 13 (1) Nothing contained in section 11 shall operate so as to exclude from the total income of the previous year

LOKMANYA TILAD JANAKALYA SHIKSHAN SANSTHA,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE -2, NAGPUR

In the result, this appeal by the assessee stands partly allowed

Bench: Shri Shamim Yahya & Shri Ram Lal Negi..

disallowance is to be restricted only qua amounts to which violation u/s 13(1)(c)/ 13(2) is attracted and the exemption in respect of other income cannot be forfeited.” 14. A reading of the above makes it amply clear that a harmonious construction of the relevant provisions is required. Legislature has clearly contemplated that in a case where

DCIT-CC-1(3), NAGPUR, NAGPUR vs. R.B.S.D. AND F.N. DAS(EXPORT FIRM), VIZIANAGRAM

In the result, appeal filed by the Revenue is dismissed

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

section 44AB of Income Tax Act. The auditor, in its report, has not pointed out any defect in the books of accounts or bills and vouchers maintained by the assessee. In the assessment proceeding, the AO has not disputed the fact that the assessee has maintained regular books of accounts, bills and vouchers. The AO has not rejected assesses books

SHRIRAM DADAJI MATTE,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, NAGPUR

In the result, appeal filed by the assessee for the assessment year

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

Section 43B or anything contained in that provision would not absolve the assessee from its liability to deposit the employee’s contribution on or before the due date as a condition for deduction. 55. In the light of the above reasoning, this court is of the opinion that there is no infirmity in the approach of the impugned judgment

SHRIRAM DADAJI MATTE,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, NAGPUR

In the result, appeal filed by the assessee for the assessment year

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

Section 43B or anything contained in that provision would not absolve the assessee from its liability to deposit the employee’s contribution on or before the due date as a condition for deduction. 55. In the light of the above reasoning, this court is of the opinion that there is no infirmity in the approach of the impugned judgment

JEETENDRA CHANDRAKANT NAYAK,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOM TAX(OSD), NAGPUR

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

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

disallowed the claim of the assessee for deduction under section 54F of the Act against the capital gain on transfer of long term capital asset, on the ground that the assessee owned interest in more than one residential properties and therefore, he was not entitled for deduction under section 54F of the Act. The learned assessing officer relied

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

section should be allowed if the appellant had made any provision towards bad and doubtful debts and not necessarily equivalent to the provision made as held by Hon'ble ITAT Delhi in case of Pratima Bank (58 ITR (Trib) 1). 2.2 Without prejudice to the above, the CIT(A) should have allowed the alternate claim of the appellant that

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

section should be allowed if the appellant had made any provision towards bad and doubtful debts and not necessarily equivalent to the provision made as held by Hon'ble ITAT Delhi in case of Pratima Bank (58 ITR (Trib) 1). 2.2 Without prejudice to the above, the CIT(A) should have allowed the alternate claim of the appellant that

INDOWORTH INDIA LIMITED,NAGPUR vs. ACIT(TDS), CIRCLE 51(1), NAGPUR

In the result, appeal filed by the assessee for A

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

section 201(3) the Financial Act, 2012. 3. The non–deduction TDS and interest thereon u/s 201(1) and 201(1A) on share application money of Rs.55,89,527/- amounting to Rs.22,45,596/- is incorrect, illegal, bad in law and without natural justice and the same is to be deleted. 4. That the levy of TDS on advance Share

M/S INDOWORTH INDIA LIMITED,NAGPUR vs. ACIT(TDS), CIRCLE 51(1) , NAGPUR

In the result, appeal filed by the assessee for A

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

section 201(3) the Financial Act, 2012. 3. The non–deduction TDS and interest thereon u/s 201(1) and 201(1A) on share application money of Rs.55,89,527/- amounting to Rs.22,45,596/- is incorrect, illegal, bad in law and without natural justice and the same is to be deleted. 4. That the levy of TDS on advance Share

ASSTT.COMMISSIONER OF INCOME TAX CIRCLE-2, NAGPUR vs. M/S WESTERN COALFIELDS LIMITED, NAGPUR

In the result, the departmental appeal is dismissed

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

disallowance of claim of deduction u/s 32AC is unjustified, unwarranted and bad in law. In view of above, it is humbly prayed that A.O. be directed to grant deduction u/s 32AC at Rs. 14.89 crores as made in return of income. 5. At the time of hearing before us, the Ld. CIT DR relied upon the order of Assessing Officer

INCOME TAX , WARD -1(4), NAGPUR vs. M/S WADHWANI IMPEX, NAGPUR

In the result, appeal of the Revenue is dismissed

Bench: Shri R.S. Syal, Vp & Shri Partha Sarathi Chaudhury, Jm

1A) read with section 80HHC(3A) read with clause (baa) of Explanation to section 80HHC of the Act. 2. Whether in any view of the matter, if the figures as computed under clause (a) or (b) or (c) of sub section (3) is a negative figure, would an assessee be entitled to a deduction under section 80HHC

M/S. HARIHAR INFRASTUCTURE DEVELOPMENT CORPORATION LTD.,,NAGPUR vs. THE DY.CIT, CIRCLE- 1,, 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. 60/Nag/2015 "नधा"रण वष" / Assessment Year : 2010-11 M/S. Harihar Infrastructure Development Corporation Ltd.; G-3, Amar Palace, Opp. Patwardhan Ground, Dhantoli, Nagpur-12. Pan : Aabch9888H .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax, Circle-1, Nagpur. ……""यथ" / Respondent Assessee By : Shri S. Shriram, Ar Revenue By : Shri Pradeep Headoo, Dr

1A) of I T Act, 1961 on account of sale of agricultural land. 7. The Ld. Lower authorities ought to have accepted that the agricultural land held by assessee is not a capital asset under section 2(14) of I.T Act, 1961 and surplus on the sale of same is not exigible to income tax since the land is away

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-4,, NAGPUR vs. SONU MONU AGRO PRIVATE LIMITED, NAGPUR

In the result, Department's appeal stands dismissed

section 14A(1) of the I.T. Act, 1961 for the purposes of computing the total income under this Chapter, no deduction shall be allowed in respect of expenditure incurred by the assessee in relation to income which does not form part of the total income. The Prudent assessee might have suo-moto disallowed the expenses amounting to Rs. 12.90 Crore

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