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

section 80P is allowable. As I have already discussed this issue at length above, same is not reproduced for the sake of brevity. Hence, the Assessing Officer is directed to allow 80P deduction on the extended income computed by the virtue of this disallowance. 6.2 To sum up, the disallowance

DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCEL-1(2, NAGPUR vs. M/S. VIBRANT GLOBAL CAPITAL LTD., MUMBAI

In the result, appeal filed by the Revenue is dismissed

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

disallowance under section 14A has been computed by the Assessing Officer at ` 31.79 crore. The Assessing Officer while making another addition at ` 5,37,962, at Para–5.3.3 has noted and accepted that own funds/non-interest borrowed funds with the assessee at ` 62.55 crore. The learned CIT(A) has deleted the addition pertaining to interest under section

ACIT-CENTRAL CIRCLE -2(1), NAGPUR vs. SHRI NANDKUMAR KHATTUMAL HARCHANDANI , NAGPUR

disallowance under section 14A at ₹ 15,75,789, though the assessee is not liable for the same. Being aggrieved the assessee preferred appeal before the first appellate authority.\n6. During the proceedings before the learned CIT(A), the assessee made a detailed submission which was recorded by the learned CIT(A) in its impugned order vide Page

M/S. GAJANAN COTSPIN ,BULDHANA vs. INCOME TAX OFFICER, WARD-2, KHAMGAON

In the result, assessee’s appeal stands allowed

Bench: Shri V. Durga Rao

63,780, made by the Assessing Officer on account of disallowance of interest due to some interest free advance given by the assessee. 6. The facts of the case are that, the assessee is a Partnership firm having four partners namely (i) Shri Devendra Madhusudan Bhattad; (ii) Satyanarayan R. Bhattad; (iii) Shri Kamal Govind Bhattad; and (iv) Shri Mahesh

ACIT-CENTRAL CIRCLE -2(1), NAGPUR vs. SHRI NANDKUMAR KHATTUMAL HARCHANDANI , NAGPUR

In the result, appeal of the Revenue stands dismissed

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

disallowance of exemption u/s. 10(38) of Rs. 5,60,75,185/- is directed to be deleted. Hence these grounds are allowed.” Since the learned CIT(A) decided the aforesaid issue in favour of the assessee, the Revenue being aggrieved filed appeal before Tribunal. Ground no I(i) to (xxiv) 10. The learned Departmental Representative assailing the impugned order passed

RAHUL UDYOG,AMRAVATI vs. INCOME TAX OFFICER,WARD-2, AMRAVATI

In the result, the ground no

Bench: Shri Vikram Singh Yadav & Shri Yogesh Kumar U.S

63,656/- is, hereby, confirmed.” 4. During the course of hearing, the ld. AR submitted that the disallowances of Hamali expenses have been sustained by the ld.CIT(A) invoking provisions of section

ADITI EXPRESS CARGO INDIA PRIVATE LIMITED,NAGPUR vs. DCIT ACIT CIRCLE -3, NAGPUR

In the result, all the captioned seven appeal are allowed for statistical purposes

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

63,10,785, from different parties besides interest of ` 2,13,127. Since no return of income has been filed for the relevant assessment year 2013-14, the income derived from the above sources was found to have been escaped assessment within the meaning of section 147 of the Income Tax Act, 1961 (“the Act”). Therefore, the case was reopened

ADITI EXPRESS CARGO INDIA PRIVATE LIMITED,NAGPUR vs. DCIT ACIT CIRCLE -3, , NAGPUR

In the result, all the captioned seven appeal are allowed for statistical purposes

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

63,10,785, from different parties besides interest of ` 2,13,127. Since no return of income has been filed for the relevant assessment year 2013-14, the income derived from the above sources was found to have been escaped assessment within the meaning of section 147 of the Income Tax Act, 1961 (“the Act”). Therefore, the case was reopened

ADITI EXPRESS CARGO INDIA PRIVATE LIMITED,NAGPUR vs. DCIT ACIT CIRCLE -3, NAGPUR

In the result, all the captioned seven appeal are allowed for statistical purposes

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

63,10,785, from different parties besides interest of ` 2,13,127. Since no return of income has been filed for the relevant assessment year 2013-14, the income derived from the above sources was found to have been escaped assessment within the meaning of section 147 of the Income Tax Act, 1961 (“the Act”). Therefore, the case was reopened

ADITI EXPRESS CARGO INDIA PRIVATE LIMITED,NAGPUR vs. DCIT ACIT CIRCLE -3, NAGPUR

In the result, all the captioned seven appeal are allowed for statistical purposes

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

63,10,785, from different parties besides interest of ` 2,13,127. Since no return of income has been filed for the relevant assessment year 2013-14, the income derived from the above sources was found to have been escaped assessment within the meaning of section 147 of the Income Tax Act, 1961 (“the Act”). Therefore, the case was reopened

ADITI EXPRESS CARGO INDIA PRIVATE LIMITED THROUGH ITS ERSTWHILE DIRECTOR PRASHANT NATWARLAL LAKHANI,NAGPUR vs. DCITACIT CIRCLE-3 , NAGPUR

In the result, all the captioned seven appeal are allowed for statistical purposes

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

63,10,785, from different parties besides interest of ` 2,13,127. Since no return of income has been filed for the relevant assessment year 2013-14, the income derived from the above sources was found to have been escaped assessment within the meaning of section 147 of the Income Tax Act, 1961 (“the Act”). Therefore, the case was reopened

ADITI EXPRESS CARGO INDIA PRIVATE LIMITED THROUGH ITS ERSTWHILE DIRECTOR PRASHANT NATWARLAL LAKHANI,NAGPUR vs. DCIT ACIT CIRCLE-3, NAGPUR

In the result, all the captioned seven appeal are allowed for statistical purposes

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

63,10,785, from different parties besides interest of ` 2,13,127. Since no return of income has been filed for the relevant assessment year 2013-14, the income derived from the above sources was found to have been escaped assessment within the meaning of section 147 of the Income Tax Act, 1961 (“the Act”). Therefore, the case was reopened

ADITI EXPRESS CARGO INDIA PRIVATE LIMITED THROUGH ITS ERSTWHILE DIRECTOR PRASHANT NATWARLAL LAKHANI,NAGPUR vs. DCIT ACIT CIRCLE-3, NAGPUR

In the result, all the captioned seven appeal are allowed for statistical purposes

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

63,10,785, from different parties besides interest of ` 2,13,127. Since no return of income has been filed for the relevant assessment year 2013-14, the income derived from the above sources was found to have been escaped assessment within the meaning of section 147 of the Income Tax Act, 1961 (“the Act”). Therefore, the case was reopened

PANHERA GRAMIN BIGARSHETI SAHAKARI PAT SANSTHA MARYADIT,BULDHANA vs. ITO WARD-2, KHAMGAON, KHAMGAON

In the result, assessee’s appeal being ITA no

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

section 80P(2)(a)(i) of the Act amounting to ` 49,90,406 [i.e., ` 61,63,310 (-) ` 11,72,904] was disallowed

PANHERA GRAMIN BIGARSHETI SAHAKARI PAT SANSTHA MARYADIT,BULDHANA vs. ITO WARD-2, KHAMGAON, KHAMGAON

In the result, assessee’s appeal being ITA no

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

section 80P(2)(a)(i) of the Act amounting to ` 49,90,406 [i.e., ` 61,63,310 (-) ` 11,72,904] was disallowed

RAVINDRA MADANLAL KHANDELWAL,AKOLA vs. DCIT/ACIT CIRCLE , AKOLA

In the result, appeal filed by the assessee is allowed for statistical purposes

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

disallowed. 4.9 This jurisprudence was further explained in the recent judgment of the Jaipur Tribunal in case of Shri Kailash Chand Soni V/s ACIT (ITA NO.960/JP/2019) where in it was held that- “Para 14 :- We are of the view that it is not necessary that the expenditure incurred must have been obligatory; it is enough to show that the money

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

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