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

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 of Rs. 3,18,989/- as business income. 3. On the facts and circumstances of the case, the learned CIT(A) erred in deleting the disallowance made by the Assessing Officer of Rs.1,36,709/- and 2 Shree Agarwal Finance India Pvt. Ltd. ITA no.176/Nag./2016 treating the same as business income, which was claimed as deduction u/s.24

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

section 9 ITANo.143/Nag/2017 263, has also returned a finding that facilities provided are integral part of the house property being let out and such facilities are to be provided where the property is to be let out. Therefore, the facilities are incidental and ancillary to the predominate nature of transaction being letting out of the premises. In case

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

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

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

35,115. 5. The assessee made investment in shares amounting to ₹ 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

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)

house of the assessee is purchased jointly with his wife. In the case of CIT Vs. Natrajan, (2007) 287 ITR 271 (Mad), though this case was decided in relation to Section 54 of the Act, the said Section is pari materia of Section 54F(1) of the Act. Likewise, the Punjab & Haryana High Court in the case

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 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

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

PRITAM SINGH CHARAN SINGH GUJJAR,NAGPUR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4,, NAGPUR

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao

Housing Society, Gittikhadan, Nagpur, for a sale consideration of ` 37,00,000. The market value of the property was shown at ` 40,22,000, for stamp duty purposes. The Assessing Officer adopted the stamp duty valuation for computing profit and gains arising on sale of property by the assessee. The Assessing officer has not brought any evidence on record

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-2, NAGPUR vs. M/S SAS DEVELOPERS & ENGINEERS `, NAGPUR

In the result, the appeal filed by department is dismissed

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

section 143(3) of the Income Tax Act, 1961 ("the Act") by the learned CIT (A)-2, Nagpur, [“learned CIT (A)”], for the assessment year 2015-16. 2. The Department has raised following grounds of appeal:– “1] Whether in the facts and circumstances of the case and in law, the CIT (A)-2, Nagpur was justified deleting the disallowance

ASSTT. CIT, CIR- 7, NAGPUR vs. M/S. NEWQUEST CORPORATION LTD., CHANDRAPUR

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year: 2008-2009 The Acit Vs. M/S.Newquest Corporation Ltd. Circle-7, (Now Known As M/S. Avantha Nagpur Holding Ltd. Ballalrpur Paper Mills P.O. Ballarpur, Distt. Chandrapur Pan No.:Aabcb 6134 E Appellant Respondent

house dealing with a large number of goods spends money on such items of sport it has to be on behalf of the parent organisation and could not be relatable to any particular product sold by it, nor in law it is so necessary in order to claim the business expenses. Advertisements by D.C.M. would inevitably carry advertisements

SHAILESH CHAMPAKLAL VAKHARIA,NAGPUR vs. ASSISSTANT COMMISSIONER OF INCOME (CENTRAL) CIRCLE - 1(1), NAGPUR

In the result, appeal filed by the assessee stands allowed

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

Property is plot. no. 51, NIT Municipal house no. 1366, MausaHivari, Wardhaman Nagar to Brindesh Agrawal for consideration of 5.21 Cr on October 2016. Govardhan Das 3 Shailesh Champaklal Vakharia ITA no.344/Nag./2023 V. As regards to Shri Mahavir Vakharia, the power of attorney is held by our assessee, Shri Shailesh Vakharia. vi. Since the document is sale agreement

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. SMT. ANJU A. SARAF, NAGPUR

In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed

Bench: Shrisandeepgosain & Shriarunkhodpia

house is not taxable u/s 23(4)(b) . Without prejudice to our above submission, the Ld. AO has grossly erred in estimating the annual letting value (ALV) of flat. The AO on the basis of monthly rent of Rs 7,91,805/- received by the appellant from commercial property in Prestige Obelisk, Bangalore estimated the monthly rent of Flat