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

201 PAN – AAATJ1449G Assessee by : Shri Mahavir Atal Revenue by : Shri Sandipkumar Salunke Date of Hearing – 28/01/2025 Date of Order – 03/04/2025 O R D E R PER V. DURGA RAO, J.M. These appeals by the Revenue are directed against the impugned orders of even date 11/08/2023, passed by the learned Commissioner of Income Tax (Appeals)–3, Nagpur, [―learned

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

201 PAN – AAATJ1449G Assessee by : Shri Mahavir Atal Revenue by : Shri Sandipkumar Salunke Date of Hearing – 28/01/2025 Date of Order – 03/04/2025 O R D E R PER V. DURGA RAO, J.M. These appeals by the Revenue are directed against the impugned orders of even date 11/08/2023, passed by the learned Commissioner of Income Tax (Appeals)–3, Nagpur, [―learned

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

201 PAN – AAATJ1449G Assessee by : Shri Mahavir Atal Revenue by : Shri Sandipkumar Salunke Date of Hearing – 28/01/2025 Date of Order – 03/04/2025 O R D E R PER V. DURGA RAO, J.M. These appeals by the Revenue are directed against the impugned orders of even date 11/08/2023, passed by the learned Commissioner of Income Tax (Appeals)–3, Nagpur, [―learned

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

1. CIT V/s Gem Plus Jewellery India Ltd. (330 ITR 175) High Court of Bombay :- In this case Assessing Officer enhanced income by disallowing employer‟s as well as employee‟s contribution towards provident fund/ESIC, it was held that exemption under section 10A had to be granted on such enhanced income. Relevant Para:- As a matter of fact the question

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

section 115JB of the Income-tax Act, 1961 as contended by the revenue by relying on the decision in the case of Appollo Tyres Ltd. (supra). 27. In this case since we have already held that in relevant assessment year 2010-11 the incentives "Interest subsidy' and 'Power subsidy' is a 'capital receipt and does not fall within the definition

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

section 115JB of the Income-tax Act, 1961 as contended by the revenue by relying on the decision in the case of Appollo Tyres Ltd. (supra). 27. In this case since we have already held that in relevant assessment year 2010-11 the incentives "Interest subsidy' and 'Power subsidy' is a 'capital receipt and does not fall within the definition

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

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 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

1) of section 201, then, for the purpose of this sub-clause, it shall be deemed that the assessee has deducted and paid the tax on such sum on the date of furnishing of return of income by the resident payee referred to in the said proviso. 8.3 From the plain reading of provision of section

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

disallowance of ` 1,000, is not leviable because the making a delayed payment is not an offence in contravention of any law. Accordingly, we allow deduction of such penalty from the taxable income. Ground no.6, is allowed. 18. In the result, appeal filed by the assessee for the A.Y. 2014–15 is partly allowed. ITA no.180/Nag./2022 Assessee’s Appeal

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

disallowance of ` 1,000, is not leviable because the making a delayed payment is not an offence in contravention of any law. Accordingly, we allow deduction of such penalty from the taxable income. Ground no.6, is allowed. 18. In the result, appeal filed by the assessee for the A.Y. 2014–15 is partly allowed. ITA no.180/Nag./2022 Assessee’s Appeal

GOPAL DENESHCHANDRA TULSHAN ,AKOLA vs. INCOME TAX OFFICER, WARD-3, AKOLA

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

Bench: Shri V. Durga Rao

disallowance of interest expenses at Rs. 1,86,667/-, since the appellant has complied with the second proviso of section 40(a)(ia) rws first proviso of sub section (1) of section 201

M/S AHUJA BULKS MOVERS PVT. LTD.,NAGPUR vs. ACIT, CIRCAL-1, NAGPUR

In the result, appeal of the assessee is allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita No. 180/Nag/2017 "नधा"रण वष" / Assessment Year : 2012-13 M/S. Ahuja Bulk Movers Pvt. Ltd. B-307, Lokmat Building, Wardha Road, Nagpur-440 012 Pan : Aabca5014E .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-1, Nagpur. ……""यथ" / Respondent Assessee By : Shri R.K Ganeriwal, Ar Revenue By : Shri Vitthal Bhosale, Dr सुनवाई क" तार"ख / Date Of Hearing : 18.02.2022 घोषणा क" तार"ख / Date Of Pronouncement : 05.04.2022

1) of Section 201 of the Act, then, as per the “2nd proviso” to Section 40(a)(ia) of the Act, no disallowance

AHSAAN QURESHI,NAGPUR vs. ACIT CIRCLE-2, NAGPUR

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao

disallowed the amount of ` 1 lakh, under section 40a(ia) of the Income Tax Act, 1961 ("the Act") as assessee failed to deduct the TDS as per provisions of section 194H of the Act. The learned CIT(A) held that the in view of the amendment made in section 40a(ia) of the Act and in section 201

M/S. ICON DRUGS PVT. LTD,NAGPUR vs. CPC , INCOME TAX OFFICER, WARD-3(4), NAGPUR

201, Saidarshan Complex, ITO, Ward- 3(4), Nagpur. Wardha Road, Vivekanand Nagar, Nagpur- 440015. PAN : AABCI1210L Appellant Respondent Assessee by : Shri R. K. Ganeriwala Revenue by Shri G. J. Ninawe : Date of hearing : 02.11.2022 Date of pronouncement : 27.12.2022 आदेश / ORDER PER S. S. GODARA, JM: These assessee’s twin appeals for the assessment years 2018-19 and 2019-20 arise

M/S. ICON DRUGS PVT. LTD.,NAGPUR vs. CPC, INCOME TAX OFFICER, WARD3(4), NAGPUR

201, Saidarshan Complex, ITO, Ward- 3(4), Nagpur. Wardha Road, Vivekanand Nagar, Nagpur- 440015. PAN : AABCI1210L Appellant Respondent Assessee by : Shri R. K. Ganeriwala Revenue by Shri G. J. Ninawe : Date of hearing : 02.11.2022 Date of pronouncement : 27.12.2022 आदेश / ORDER PER S. S. GODARA, JM: These assessee’s twin appeals for the assessment years 2018-19 and 2019-20 arise

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 appellant under section 54F holding that the appellant owned more than one residential house, other than the new asset, on the date of transfer of the original asset. Shri Jeetendra Chandrakant Nayak vs. ACIT (OSD) ITA no. 368/Nag./2023 a. Kitchen Ota & Plumbing b. Floor Tiles fitting & washing basin in master bedroom toilet c. Approach

NITIN MADANLAL KHANDELWAL,AKOLA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - AKOLA, AKOLA

In the result, appeal filed by the assessee stands dismissed

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

1)1047 was "whether on the facts, and in the circumstances of the case, interest on money borrowed for the investment in shares which had not yielded any dividend is admissible under section 57(iii)?" The above case is not applicable in the case of the appellant as the fact differs in this case as the appellant had invested