ACIT, CHANDRAPUR CIRCLE , CHANDRAPUR vs. CHANDRAPUR DISTT. CENTRAL CO-OP BANK LTD , CHANDRAPUR

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

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

72,30,120 after making addition on account of disallowance of deduction under section 36(1)(vii) of the Act and allowed

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

1) of section 139. If notice u/s 148 of the Act would not have been issued to the assessee, assessee would not have filed return the income as stated above would have bee escaped from tax. Therefore assessee was not eligible for deduction u/s 80P of Rs. 53,72,108/- as claimed in the return. Addition: Rs. 53,72

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

1) of section 139. If notice u/s 148 of the Act would not have been issued to the assessee, assessee would not have filed return the income as stated above would have bee escaped from tax. Therefore assessee was not eligible for deduction u/s 80P of Rs. 53,72,108/- as claimed in the return. Addition: Rs. 53,72

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

1) of section 139. If notice u/s 148 of the Act would not have been issued to the assessee, assessee would not have filed return the income as stated above would have bee escaped from tax. Therefore assessee was not eligible for deduction u/s 80P of Rs. 53,72,108/- as claimed in the return. Addition: Rs. 53,72

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

In the result, appeal by the assessee for A

1) of section 139. If notice\nu/s 148 of the Act would not have been issued to the assessee, assessee\nwould not have filed return the income as stated above would have bee\nescaped from tax. Therefore assessee was not eligible for deduction u/s 80P of\nRs. 53,72,108/- as claimed in the return.\nAddition: Rs. 53,72

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

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

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

72,32,292, as interest expenses, which were asserted to be incurred for earning income from other sources, but were not recorded in the Profit & Loss Account of the business. The Assessing Officer disallowed this expenditure on the grounds that the expenditure claimed was not reflected in the Profit & Loss Account, which is a standard practice for legitimate business expenses

A,C.I.T. CENTRAL CIR.- 2(2), NAGPUR vs. SHRI DHARAMPAL R.AGRAWAL, NAGPUR

In the result, Revenue’s appeal being ITA no

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

1. On the facts and circumstances of the case and in law, the learned CIT(A) erred in holding that the notice and action u/s 153A of the I.T.Act was bad in law, even though the Assessing Officer had recorded his satisfaction that the documents seized from various premises, belonged to the assessee, which is the only pre-condition

DY. C.I.T. CENTRAL CIR2(2), NAGPUR vs. M/S SHREE AGRAWAL COAL INDIA PVT. LTD.,, NAGPUR

In the result, Revenue’s appeal being ITA no

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

1. On the facts and circumstances of the case and in law, the learned CIT(A) erred in holding that the notice and action u/s 153A of the I.T.Act was bad in law, even though the Assessing Officer had recorded his satisfaction that the documents seized from various premises, belonged to the assessee, which is the only pre-condition

INCOME TAX OFFICER WARD 2(1), THIRD FLOOR, AAYAKAR BHAVAN vs. N KUMAR HOUSING AND INFRASTRUCTURE PVT. LTD, SEVENTH FLOOR

In the result, appeal by the Revenue stands dismissed

section\n44AB of the Income Tax Act, 1961. The assessee has obtained Audit Report\nand audited Balance Sheet, Profit & Loss A/c. and schedule within specified\ntime limit and submitted alongwith return of income. The assessee encloses\nherewith copy of audited Balance Sheet, Profit & Loss A/c. and schedule for\nyour kind perusal, which is on Page

A,C.I.T. CENTRAL CIR.- 2(2), NAGPUR vs. SHRI DHARAMPAL R.AGRAWAL, NAGPUR

In the result, Revenue's appeal being ITA no

1. On the facts and circumstances of the case and in law, the learned CIT(A)\nerred in holding that the notice and action u/s 153A of the I.T.Act was bad in\nlaw, even though the Assessing Officer had recorded his satisfaction that the\ndocuments seized from various premises, belonged to the assessee, which is\nthe only pre-condition

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. M/S SHREE AGRAWAL FINANCE INDIA P. LTD.,, NAGPUR

In the result, Revenue's appeal being ITA no

1. On the facts and circumstances of the case and in law, the learned CIT(A)\nerred in holding that the notice and action u/s 153A of the I.T.Act was bad in\nlaw, even though the Assessing Officer had recorded his satisfaction that the\ndocuments seized from various premises, belonged to the assessee, which is\nthe only pre-condition

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. M/S SHREE AGRAWAL FINANCE INDIA P. LTD.,, NAGPUR

In the result, Revenue's appeal being ITA no

1. On the facts and circumstances of the case and in law, the learned CIT(A)\nerred in holding that the notice and action u/s 153A of the I.T.Act was bad in\nlaw, even though the Assessing Officer had recorded his satisfaction that the\ndocuments seized from various premises, belonged to the assessee, which is\nthe only pre-condition

DY. C.I.T. CENTRAL CIR2(2), NAGPUR vs. M/S SHREE AGRAWAL COAL INDIA PVT. LTD.,, NAGPUR

In the result, Revenue's appeal being ITA no

1. On the facts and circumstances of the case and in law, the learned CIT(A)\nerred in holding that the notice and action u/s 153A of the I.T.Act was bad in\nlaw, even though the Assessing Officer had recorded his satisfaction that the\ndocuments seized from various premises, belonged to the assessee, which is\nthe only pre-condition