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

32, 40(a)(ia), 40A(3), 43B, etc of the Act and other specific disallowances , related to the business activity against which the Chapter VI A Deductions has been claimed, result in enhancement of the profits of eligible business, and that deduction under Chapter VI A is admissible on the profits of the eligible business, and that deduction under chapter

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

32 of Regional Rural Bank Act for the purpose of Income-tax Act, is entitled to benefit of deduction u/s 80P (2)(a)(i) as held by Hon'ble ITAT Allahabad in the case of Baroda Uttar Pradesh Gramin Bank (ITA 403 to 405/Alld./2014 and accordingly deduction under the said section should be allowed in computing the total income

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

32 of Regional Rural Bank Act for the purpose of Income-tax Act, is entitled to benefit of deduction u/s 80P (2)(a)(i) as held by Hon'ble ITAT Allahabad in the case of Baroda Uttar Pradesh Gramin Bank (ITA 403 to 405/Alld./2014 and accordingly deduction under the said section should be allowed in computing the total income

ITO WARD-1(1) NAGPUR, NAGPUR vs. ASHWAMI SALES AND MARKETING PVT.LTD, NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

32. It is worth noticing that in ACIT –vs.- Mr. Mohammed Suhail, Kurnool in ITA No. 1536.Hyd/2014, order dated 13.02.2015, the Coordinate Bench of this Tribunal specifically held that the provisions of section 194C(6) are independent of section 194C(7), and just because there is violation of provisions of section 194C(7), disallowance under section

ACIT, CIRCLE-4, NAGPUR, NAGPUR vs. THE VIDARBHA CO OPERATIVE MARKETING FEDERATION LTD , NAGPUR

In the result, appeal of the Revenue stands dismissed

Bench: Shri Narender Kumar Choudhry& Shri K.M. Roy

32,040/– (₹ 1,73,16,473/–) which were claimed on account of interest/ dividend income earned from co-operative Banks being exempt u/s 80P(2)(d) of the Act. However the Ld. Commissioner allowed such deduction/exemption claimed u/s 80P(2)(d) of the Act and consequently deleted the said additions. And therefore the Revenue Department being aggrieved has preferred this

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

disallowed the difference amount of ` 1,80,000, but also denied the assessee trust complete exemption claimed under the provisions of section 11 of the Act and accordingly brought to tax the entire surplus of trust of ` 5,07,32,612, as income taxable as per the provisions of section 164(2

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

disallowed the difference amount of ` 1,80,000, but also denied the assessee trust complete exemption claimed under the provisions of section 11 of the Act and accordingly brought to tax the entire surplus of trust of ` 5,07,32,612, as income taxable as per the provisions of section 164(2

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

disallowed the difference amount of ` 1,80,000, but also denied the assessee trust complete exemption claimed under the provisions of section 11 of the Act and accordingly brought to tax the entire surplus of trust of ` 5,07,32,612, as income taxable as per the provisions of section 164(2

HINGANGHAT NAGRI SAHAKARI PAT SANSTHA,HINGANGHAT vs. INCOME TAX OFFICER WARD-1, WARDHA

In the result, appeal by the assessee for A

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

disallowing the benefit of Sec 80P of Rs.53,72,108/- based on the same, even 2 Hinganghat Nagri Sahakari Pat Sanstha ITA no.569/Nag./2024 after the return was filed within Assessment Proceeding as on 17.01.2023 bearing Ack No. 923756621170123 which is acknowledged in the Assessment Order itself. 3. That the Ld. Commissioner (Appeals) had erred in law and facts

HINGANGHAT NAGRI SAHAKARI PAT SANSTHA,HINGANGHAT vs. INCOME TAX OFFICER WARD-1, WARDHA

In the result, appeal by the assessee for A

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

disallowing the benefit of Sec 80P of Rs.53,72,108/- based on the same, even 2 Hinganghat Nagri Sahakari Pat Sanstha ITA no.569/Nag./2024 after the return was filed within Assessment Proceeding as on 17.01.2023 bearing Ack No. 923756621170123 which is acknowledged in the Assessment Order itself. 3. That the Ld. Commissioner (Appeals) had erred in law and facts

HINGANGHAT NAGRI SAHAKARI PAT SANSTHA,HINGANGHAT vs. INCOME TAX WARD-1, WARDHA

In the result, appeal by the assessee for A

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

disallowing the benefit of Sec 80P of Rs.53,72,108/- based on the same, even 2 Hinganghat Nagri Sahakari Pat Sanstha ITA no.569/Nag./2024 after the return was filed within Assessment Proceeding as on 17.01.2023 bearing Ack No. 923756621170123 which is acknowledged in the Assessment Order itself. 3. That the Ld. Commissioner (Appeals) had erred in law and facts

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

32 and subject to the provisions of [ section 38]; [(iia) in the case of income in the nature of family pension, a deduction of a sum equal to thirty-three and one-third per cent of such income or [fifteen] thousand rupees, whichever is less. Explanation. For the purposes of this clause, "family pension" means a regular monthly amount payable

HINGANGHAT NAGRI SAHAKARI PAT SANSTHA,HINGANGHAT vs. INCOME TAX WARD-1, WARDHA

In the result, appeal by the assessee for A

32,51,842/- remain unexplained and there is escapement of\nincome in absence of return of income filed. Thus income from above\ntransaction has not been offered for tax and due tax has not been paid. An\nopportunity of being heard as per provision of section 148A(b) of the Income\nTax Act, 1961 was provided to the assessee with

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

disallowance of such expenditure. 29.2 This used to enable the taxpayer charged to tax under section 69C to claim the expenditure as deduction under section 37 defeating the very objective of the section. 29.3 The Act has amended section 69C of the Income-tax Act according to which unexplained expenditure deemed as income cannot be allowed as deduction under

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

disallowance of such expenditure. 29.2 This used to enable the taxpayer charged to tax under section 69C to claim the expenditure as deduction under section 37 defeating the very objective of the section. 29.3 The Act has amended section 69C of the Income-tax Act according to which unexplained expenditure deemed as income cannot be allowed as deduction under

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

disallowance of such expenditure. 29.2 This used to enable the taxpayer charged to tax under section 69C to claim the expenditure as deduction under section 37 defeating the very objective of the section. 29.3 The Act has amended section 69C of the Income-tax Act according to which unexplained expenditure deemed as income cannot be allowed as deduction under

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

disallowance of such expenditure. 29.2 This used to enable the taxpayer charged to tax under section 69C to claim the expenditure as deduction under section 37 defeating the very objective of the section. 29.3 The Act has amended section 69C of the Income-tax Act according to which unexplained expenditure deemed as income cannot be allowed as deduction under

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

disallowance of such expenditure. 29.2 This used to enable the taxpayer charged to tax under section 69C to claim the expenditure as deduction under section 37 defeating the very objective of the section. 29.3 The Act has amended section 69C of the Income-tax Act according to which unexplained expenditure deemed as income cannot be allowed as deduction under