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

5. The assessee–society revised its claim of deduction under section 80P, during scrutiny proceeding, in following manner:– Sr. Deduction claimed u/s Amount no. i) Under section 80P(2)(a)(i) ` 34,14,217 ii) Under section 80P(2)(c)(i) NIL iii) Under section 80P(2)(d) ` 91,47,236 6. The Assessing Officer, on a perusal

TAJSHREE AUTOWHEELS PRIVATE LIMITED,NAGPUR vs. ACIT CIRCLE-4, NAGPUR

In the result, assessee’s appeal is allowed for statistical purposes

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

section 56(2)(viib) of the Income Tax Act, 1961, Rs. 32,26,000/- is disallowed and added back to the total income of the assessee under the head 'Income from Other Sources'. Penalty proceedings u/s 271(1)(c) of Income Tax Act, 1961 initiated separately for furnishing inaccurate particulars of income.” 6 Tajshree Autowheels Pvt. Ltd. ITA no.400/Nag./2024

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

2)(a)(i) provides 100% deduction on the profit and gains of business attributable to the business of providing banking and credit facilities to the members of society. Therefore, even if certain expenses are disallowed, it will result in increase in gross taxable income and deduction under section 80P, would be allowable on 100% of such gross taxable income

SHRI SAIBABA BAHUUDDESHIYA NAGRIK CREDIT CO-OPERATIVE SOCIETY,NAGPUR vs. ITO WARD (3)(4), NAGPUR

The appeal of the Assessee is allowed in the aforesaid\ndirections

disallowance u/s 80P(2)(a)(i) of the Act,\nthis Court observe that the co-ordinate Bench of this Tribunal in\nthe cases titled as The Green City Nagri Sahakari Pat Vs ITO Ward\n2(2), Nagpur {ITA no.124/Nag./2024 decided on 22 October, 2024}\nhas also dealt with identical issue u/s 80P(2

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

disallowance with respect to the sales tax subsidy though claimed as “capital receipt” and deducted from the “total income” offered to tax in the return of income by the Appellant. Needless to add, the AO has dealt with the issue of sales tax subsidy vide paragraph 5 to 5.8. given at page no. 8 to 13 of the assessment order

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

disallowance with respect to the sales tax subsidy though claimed as “capital receipt” and deducted from the “total income” offered to tax in the return of income by the Appellant. Needless to add, the AO has dealt with the issue of sales tax subsidy vide paragraph 5 to 5.8. given at page no. 8 to 13 of the assessment order

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

disallowed the exemption u/s 80P. Hence grounds 1,4,5 and 7 are decided against the assessee.” 11 Hinganghat Nagri Sahakari Pat Sanstha ITA no.569/Nag./2024 4. We are in complete disagreement with the conclusion drawn by the learned CIT(A). He has completely misunderstood the ratio of the cases. Provisions of section 80AC of the Act has been amended

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

disallowed the exemption u/s 80P. Hence grounds 1,4,5 and 7 are decided against the assessee.” 11 Hinganghat Nagri Sahakari Pat Sanstha ITA no.569/Nag./2024 4. We are in complete disagreement with the conclusion drawn by the learned CIT(A). He has completely misunderstood the ratio of the cases. Provisions of section 80AC of the Act has been amended

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

disallowed the exemption u/s 80P. Hence grounds 1,4,5 and 7 are decided against the assessee.” 11 Hinganghat Nagri Sahakari Pat Sanstha ITA no.569/Nag./2024 4. We are in complete disagreement with the conclusion drawn by the learned CIT(A). He has completely misunderstood the ratio of the cases. Provisions of section 80AC of the Act has been amended

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

5. However, it should be kept in mind that 80P (1) and 80P (2) (1) shall never be read in isolation rather it should always be read in association with 80P (4). The selection 80P (4) is introduced by Finance Act, 2006 w.e.f 1-4-2007 to clear any doubt while claiming deduction under section 80P (1) and 80P (2

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

5. However, it should be kept in mind that 80P (1) and 80P (2) (1) shall never be read in isolation rather it should always be read in association with 80P (4). The selection 80P (4) is introduced by Finance Act, 2006 w.e.f 1-4-2007 to clear any doubt while claiming deduction under section 80P (1) and 80P (2

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

In the result, appeal by the assessee for A

2) was issued vide notice dated 31-01-2023. On\nverification of information filed by the assessee, it is noticed that a claim for\ndeduction u/s 80P was made by the assessee of Rs. 53,72,108/- in the return.\na) The claim made by the assessee is not allowable u/s 80AC. Section 80 AC\n(ii) specifies that \"Deduction

SATPUDA FOUNDATION,AMRAVATI vs. INCOME TAX OFFICER, WARD-2, NAGPUR

In the result, assessee’s appeal is allowed

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

disallowing the claim of the assessee u/s 11(2) of the Income Tax; therefore order passed is unjustified, unwarranted and excessive. 4. On the facts and circumstances the learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre erred in not considering the circular of CBDT which clearly states delay should be condoned; therefore without considering the circular order passed

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

disallowance under section 40(a)(ia) of the Act to the tune of ` 6,37,77,092, was made. Aggrieved by the order passed by the Assessing Officer, the assessee preferred the appeal before the first appellate authority. 4. The learned CIT(A) allowed the claim of the assessee by observing as follows:– ―4.3. The submissions made by the appellant

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, NAGPUR vs. SMT. ANJU AJAY SARAF, NAGPUR

In the result, Revenue’s appeal for the A

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

5) of the Act may be treated as return filed in response to notice under section 148 of the I.T. Act. The notice under section 143(2) of the Act was issued on 15/10/2015, and served on 19/10/2015. The Assessing Officer has disallowed

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, NAGPUR vs. SMT. ANJU AJAY SARAF, NAGPUR

In the result, Revenue’s appeal for the A

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

5) of the Act may be treated as return filed in response to notice under section 148 of the I.T. Act. The notice under section 143(2) of the Act was issued on 15/10/2015, and served on 19/10/2015. The Assessing Officer has disallowed

THE GREEN CITY NAGRI SAHAKARI PAT SANSTHA MARYADIT,NAGPUR vs. ITO WARD 2(2), NAGPUR

In the result, appeal filed by the assessee is allowed

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

disallowed the interest on fixed deposits from Union Bank of India of Rs.18,98,518/- under the head income from other sources as interest received by the assessee society from the nationalize bank and not from co-operative society as per section 8OP(2)(d) and taxed in the hands of the assessee society instead of income declared under

DCIT AKOLA CIRCLE, AKOLA, AKOLA vs. THE AKOLA JANATA COMMERCIAL CO-OPERATIVE BANK LTD., AKOLA

In the result, Revenue’s appeal is dismissed

Bench: Shri Narender Kumar Choudhry & Shri K.M. Roy, Accountant, Member

disallowance of claim u/s.80P(2)(d) of Rs.42,57,348/-. 5. By the impugned order, CIT(A) allowed assessee’s claim of deduction u/s.80P after observing as under:- 5.7 The appellant is a Co-operative Credit society. It is not carrying out any banking activity so as to say that it is a Co-operative Bank. It is not registered

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