ITO, WARD-6(1),, NAGPUR vs. THE VIDARBHA PREMIER CO-OP. HOUSING SOCIETY,, NAGPUR

In the result these appeals by the assessee and revenue stand allowed for statistical purposes

Bench: Shri Shamim Yahya & Shri Ram Lal Negi..

housing property. Thus, the same is in terms of the regular business of the Appellant society of providing credit facility to its members and the income from interest is duly exempt

THE VIDHARBHA PREMIER CO-OPERATIVE HOUSING SOCIETY LTD,,NAGPUR vs. TAX RECOVERY OFFICER, RANGE-6, NAGPUR

In the result these appeals by the assessee and revenue stand allowed for statistical purposes

Bench: Shri Shamim Yahya & Shri Ram Lal Negi..

housing property. Thus, the same is in terms of the regular business of the Appellant society of providing credit facility to its members and the income from interest is duly exempt

SHRI RAJESH DAYARAMANI,,NAGPUR vs. ACIT, CIR-8,, NAGPUR

In the result, assessee’s appeal is allowed

Bench: Shri P.K. Bansal & Shri Amarjit Singh

property located at Kamptee Road on 9th June 2008. The assessee has constructed residential house which has been completed on 29th December 2008. The investment in construction of residential house is to the tune of ` 62,73,423. The assessee has claimed exemption

NARESH VASANTRAI TRIVEDI,NAGPUR vs. ACIT, CENTRAL CIRCLE 1(3), NAGPUR

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

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

house property deserve to be deleted in the interest of justice. 6) The Appellant craves leave to add, amend, alter, vary and / or withdraw any or all the above grounds of appeal with the kind permission of the Hon'ble Tribunal.” 3. Ground no.1, being general in nature, hence no separate adjudication is needed. 4. Ground no.2, relates to addition

NARESH VASANTRAI TRIVEDI,NAGPUR vs. ACIT, CENTRAL CIRCLE 1(3), NAGPUR

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

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

house property deserve to be deleted in the interest of justice. 6) The Appellant craves leave to add, amend, alter, vary and / or withdraw any or all the above grounds of appeal with the kind permission of the Hon'ble Tribunal.” 3. Ground no.1, being general in nature, hence no separate adjudication is needed. 4. Ground no.2, relates to addition

NARESH VASANTRAJ TRIVEDI,NAGPUR vs. ACIT, CENTRAL CIRCLE 1(3), NAGPUR

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

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

house property deserve to be deleted in the interest of justice. 6) The Appellant craves leave to add, amend, alter, vary and / or withdraw any or all the above grounds of appeal with the kind permission of the Hon'ble Tribunal.” 3. Ground no.1, being general in nature, hence no separate adjudication is needed. 4. Ground no.2, relates to addition

NARESH VASANTRAI TRIVEDI,NAGPUR vs. ACIT, CENTRAL CIRCLE 1(3), NAGPUR

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

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

house property deserve to be deleted in the interest of justice. 6) The Appellant craves leave to add, amend, alter, vary and / or withdraw any or all the above grounds of appeal with the kind permission of the Hon'ble Tribunal.” 3. Ground no.1, being general in nature, hence no separate adjudication is needed. 4. Ground no.2, relates to addition

SUSHILA BHAURAO DESHMUKH,AMRAVATI vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, NAGPUR

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durgarao & Shrik.M. Roy, Accountant, Member

exemption under section 54ECof the Act at `50,00,000, for purchase of REC Bonds. Since, the land sold is a piece of plot with residential house property

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 is dismissed

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

house property income (i) ` 1,36,709 disallowed Agricultural income has been treated as business (ii) ` 2,52,393 income Dividend income claimed exempt

D.C.I.T. CIR,8, NAGPUR vs. SHRI SANJAY PRAMOD NASHINE, GONDIA

In the result, the appeal of the Revenue is partly allowed

Bench: Shri G.D. Agrawal & Shri Mahavir Singh

exempt u/s 2(14)(iii) of the Act. The assessee sold this agricultural land on 9th July, 2009 for a sale consideration of `1.10 crores and accordingly, the assessee’s share comes to `55 lakhs. This asset was purchased in financial year 2007-08 for a sum of `10,05,350/-. According to the Assessing Officer, this agricultural land

SMT . RAJANI SURENDRA ADAMANE ,NAGPUR vs. INCOME TAX OFFICER WARD 6(1), NAGPUR

In the result, Assessee’s appeal is allowed in the aforesaid terms

Bench: Shri Narender Kumar Choudhrysmt. Rajani Surendra Ito, Ward-4(4), Nagpur Adamane, Plot No.30, Near Ghodke School Surendra Vs. Nagar, Hudkeshwar Road, Nagpur-440024. Pan: Alapa 9897 L (Appellant) (Respondent)

exemption under Section 54F of the Act with reference to the whole amount invested in the said house property. The AO vide

GIGEO CONSTRUCTION CO. PVT. LTD.,,NAGPUR vs. ACIT, CENTRAL CIRCLE- 1(3),, NAGPUR

In the result, appeal filed by the assessee for the A

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

house property. 3. Any other ground that may be urged at the time of hearing.” 3. For the assessment year 2008–09, the Revenue in its appeal has raised following grounds:– “1. On the facts and the circumstances of the case and in law, the Ld. CIT(A) has erred in deleting the disallowance u/s 40A(3) of Rs.44

DY. C.I.T. CENTRAL CIR.-1(3), NAGPUR vs. M/S GIGEO CONSTRUCTION CO.PVT. LTD, NAGPUR

In the result, appeal filed by the assessee for the A

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

house property. 3. Any other ground that may be urged at the time of hearing.” 3. For the assessment year 2008–09, the Revenue in its appeal has raised following grounds:– “1. On the facts and the circumstances of the case and in law, the Ld. CIT(A) has erred in deleting the disallowance u/s 40A(3) of Rs.44

DY. C.I.T. CENTRAL CIR.-1(3), NAGPUR vs. M/S GIGEO CONSTRUCTION CO.PVT. LTD, NAGPUR

In the result, appeal filed by the assessee for the A

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

house property. 3. Any other ground that may be urged at the time of hearing.” 3. For the assessment year 2008–09, the Revenue in its appeal has raised following grounds:– “1. On the facts and the circumstances of the case and in law, the Ld. CIT(A) has erred in deleting the disallowance u/s 40A(3) of Rs.44

SHABBIR AHMED AHMED ALI,NAGPUR vs. NATIONAL E ASSESMENT CENTRY, DELHI

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

House Mortgage Society Ltd., City Survey No.659 of Mouza Mankapur, Nagpur at ` 80,50,000. Accordingly, notice under section 142(1) of the Act was issued to the assessee. The assessee furnished his reply along with its enclosures. The Assessing Officer, on a perusal of assessee’s reply, it was observed that the assessee has sold the said immovable property

THE AHBAB BAHU UDDESHIYA EDUCATION SOCIETY ,NAGPUR vs. CIT(EXEMPTIONS ), PUNE

In the result, assessee’s appeal is allowed

Bench: Shri Sandeep Gosain & Shri G. Manjunatha

exemption with respect of donation which is evident from the fact that release deed executed in favour of the assessee clearly shows that society is formed for the purpose of importing education among the children of housing co- operative society and, therefore, it is evident from the fact gathered during the proceedings that the trust is formed for the benefit

ASSISTANT COMMISSIONER OF INCOME TAX, NAGPUR vs. SHRI MUKESH D. GUPTA, NAGPUR

Bench: Shri Satbeer Singh Godara & Dr. Dipak P. Ripote

house property.” 3. The assessee’s cross objections C.O.No.1/NAG/ 2022 on the other hand supports the CIT(A)'s findings holding that the Assessing Officer had not framed a valid assessment thereby making the corresponding above stated additions as under : 4 ITA.No.106 & C.O.No.1/NAG./2022 “1. That the order of the learned Assessing Officer

SHRI PRAVEEN MANOHAR GHODKHANDE,,NAGPUR vs. ITO, WARD- 1(2),, NAGPUR

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Dr. Dipak P. Ripote

exemption u/s 54 for the entire amount of Rs.6,37,216/- by stating that another house property situated at Plot