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..

section 80P(2)(a)(i) are fully complied by us and there is no reason for withdrawing the claim of deduction as claimed by us. ix) We specifically state that ours is not primary activity of constructing building services. Our primary activity is providing credit facility for acquiring house property for needy members. All the receipts are from members

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

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

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

Section 24 of the Income Tax Act. Therefore addition made is unjustified, unwarranted and excessive. 4. The learned Commissioner of Income Tax (Appeals)- 1, Nagpur erred in not accepting loan taken from bank as housing loan and not accepting interest paid to DCB bank amounting to Rs.1,12,37,579/-; Therefore addition made is unjustified, unwarranted and excessive

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 ` 3,18,989 as business income and the addition of ` 1,36,709, made by the Assessing Officer are held to be unjustified. Accordingly, these additions are deleted while confirming the impugned order passed by the learned CIT(A). Thus, ground no.2 & 3, raised by the Revenue are dismissed. 12. In ground no.4, raised by the Revenue

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.

37,124/- during the year to the closing stock comes to 52.65%. This shows that the major work was incomplete during the FY 2010-11 by which the project had to be completed. The above expenses indicated that the major works were still contained in the FY 2011-12 and the project was incomplete within the period by which

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

property of the tax payer, however, same can be easily fetched by the department by issue of summons. j) Copy of documentary evidences to substantiate genuineness of the lenders:- The fact that the transaction was indeed in a realm of a loan, is apparent from the fact that almost all the loans borrowed from the third parties were repaid

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

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

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

property at London included under the grouping ‘Rent’. As regard Trade Market, Logo Expenses, we are inclosing herewith copies of agreement(s) with two major parties i.e. DMA Branding Division of Alia Creative Consultant Ltd. and Image Public Relation PvtLtd.. As regards income in terms of Brand Equity and business promotion agreement with several constituents, we are enclosing herewith

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

DCIT-CC-1(3), NAGPUR, NAGPUR vs. R.B.S.D. AND F.N. DAS(EXPORT FIRM), VIZIANAGRAM

In the result, appeal filed by the Revenue is dismissed

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

house U/s. 69C on addition of ` 74,51,358, and to make addition under section 37. 15. We have gone through order of the learned CIT(A) as well as details submitted we also found that the provisions of section 69C of the Act are not applicable in the case of the assessee. The Assessing Officer has neither during entire