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

property being land or building or both, shares and securities, loans and advances, deposits in bank account.” “Section 153C. Assessment of income of any other person- (1) Notwithstanding anything contained in sec139, 147, 148, 149, 151 and 153, where the AO is satisfied that,- (a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, belongs

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

property being land or building or both, shares and securities, loans and advances, deposits in bank account.” “Section 153C. Assessment of income of any other person- (1) Notwithstanding anything contained in sec139, 147, 148, 149, 151 and 153, where the AO is satisfied that,- (a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, belongs

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

property being land or building or both, shares and securities, loans and advances, deposits in bank account.” “Section 153C. Assessment of income of any other person- (1) Notwithstanding anything contained in sec139, 147, 148, 149, 151 and 153, where the AO is satisfied that,- (a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, belongs

JEETENDRA CHANDRAKANT NAYAK,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOM TAX(OSD), NAGPUR

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

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

10) (2012) Tax Pub (DT) 2279 (Bom. HC) Commissioner of Income Tax vs. Joe B. Fernandes (11) (2004) 091 ITD 0053 (Bang. Trib) Anand Basappa vs. Income Tax Officer. (12) (2019) 179 ITD 0265 (Pune Trib) Kamal Murlidhar Mokashi vs. Income Tax Officer. (13) Judgment of Income Tax Appellate Tribunal, Nagpur Bench (At e-Court Pune) dated 10/01/2022 vide

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..

20,10,16,590.34 Rs. 34,71,64,700.00 Hence out of Rs.1,14,95,948/- only the sum in above ratio will allowed as deduction as it is admissible to income from activity of giving credit facility to its members.” 6. Against the above order the assessee and Revenue are in cross appeals before us. 7. We have heard

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..

20,10,16,590.34 Rs. 34,71,64,700.00 Hence out of Rs.1,14,95,948/- only the sum in above ratio will allowed as deduction as it is admissible to income from activity of giving credit facility to its members.” 6. Against the above order the assessee and Revenue are in cross appeals before us. 7. We have heard

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 and expenditure has been incurred for making house habitable. The Co–ordinate Bench of the Tribunal, Mumbai Bench, in the case of Mehar R. Surti, 27 ITR 340 (Mum.) has held that “The residential house for the purpose of sections 54 and 54F means a habitable house and investment made upto the stage of making house as habitable should

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

10. Ground no.2 & 3, raised by the Revenue being inter–connected and common, relate to the addition made by the Assessing Officer treating the income from house property of ` 3,18,989 as business income disallowance of ` 1,36,709, which was claimed as deduction under section 24 of the Act and treating the same as business income

SHRI SUBUR KUMAR BANERJEE,,NAGPUR vs. A.C.I.T. (OSD) O/O C.I.T.-1, NAGPUR

In the result, assessee’s appeal is allowed

Bench: Shri Sandeep Gosain & Shri Arun Khodpia

10 of the Paper Book. It is also evident that the assessee had filed the certificate of repayment of principal and interest before the Assessing Officer as well as before the learned CIT(A) and the same are also available on record before us from which is evident that in all these three certificates, the DCB Bank has wrongly mentioned

SHRIRAM NARAYAN TIKDE,NAGPUR vs. INCOME TAX, WARD 4(4) , NAGPUR

Bench: Shri V. Durga Rao

10. The Appellant prays leave of the Hon’ble Tribunal to add, amend, alter any of the Grounds of appeal.” 3 Shriram Narayan Tidke ITA no.89/Nag./2021 2. During the course of hearing, the Registry has pointed out that there is a delay of 233 days in filing the present appeal by the assessee. The learned Counsel for the assessee

HIGH RISE CONSTRUCTION,NAGPUR vs. I.T.O. WARD 1(5), NAGPUR

In the result this appeal by the assessee is allowed for statistical purposes

Bench: Shri Shamim Yahya.

house to one individual and his spouse by invoking the provisions of section 80IB(10)(f) of the Act. Learned counsel submitted that the said provision was not applicable to the assessee. In this regard learned counsel submitted the following in the form of paper book in support of his contentions : Copy of detailed submissions filed before AO PB Page

SHRI MAHESH DEVDUTTA GUPTA,,NAGPUR vs. ACIT, CENTRAL CIRCLE- 2(3),, NAGPUR

In the result, the addition so made is directed to be deleted and the ground of appeal is allowed

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

house property”. However, given the undisputed fact that the assessee has taken the loan for the purposes of his business and has incurred the interest liability of . 1,36,407/–, the same is directed to be allowed while computing the income under the head ‘Profits and Gains of Business and Profession’. In the result, the ground of appeal is allowed

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

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

20,61,59,037. The assessee has borrowed fund of ₹12,89,09,181, on which interest amounting to ₹ 17,07,742, has been paid. The assessee received dividend amounting to ₹ 48,899, which was claimed exempt under section 10(34) of the Act and claimed expenditure at ₹ 15,75,789, in the return of income. The Assessing Officer

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

10. We have heard both the parties and perused the material available on record and find substantial merit in the submissions of the learned Counsel for the assessee. Since the Mother of the assessee has expired long ago and sufficient evidences have been filed by the assessee to demonstrate the transaction, we set aside the impugned order passed

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

10. We have heard both the parties and perused the material available on record and find substantial merit in the submissions of the learned Counsel for the assessee. Since the Mother of the assessee has expired long ago and sufficient evidences have been filed by the assessee to demonstrate the transaction, we set aside the impugned order passed

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

10. We have heard both the parties and perused the material available on record and find substantial merit in the submissions of the learned Counsel for the assessee. Since the Mother of the assessee has expired long ago and sufficient evidences have been filed by the assessee to demonstrate the transaction, we set aside the impugned order passed

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

10. We have heard both the parties and perused the material available on record and find substantial merit in the submissions of the learned Counsel for the assessee. Since the Mother of the assessee has expired long ago and sufficient evidences have been filed by the assessee to demonstrate the transaction, we set aside the impugned order passed

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

house property, income from business and income from other sources. The assessee has also shown income from exempt capital gains from transfer of equity shares. 7 Shri Nandkumar Khatumal Harchandani ITA no.410/Nag./2019 A.Y. 2014–15 The assessee has purchased 422500 shares of Swift IT Infrastructure and Services Ltd. by cheque on 16/03/2012 during the previous year relevant to Asstt