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 NEW VIRAJ HOUSING AGENCY,NAGPUR vs. ACIT, CENTRAL CIRCLE-1(1), NAGPUR

In the result, the appeals filed by the assessee for all the three years is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am

sections the term used is important that last panchnama drawn in relation to any person. Thus, in order to complete the search, there is an 14 ITA183/NAG/2017 NEW VIRAJ HOUSING AGENCY VS ACIT , C.C. 1(1), NAGPUR initiation of proceedings u/s 132(1) of the Act, actual conduct of search in terms of search warrant issued which includes search

M/S MAHESHWARI COAL BENEFICATION & INFRASTRUCTURE P. LTD,BILASPUR vs. ACIT CENTRAL CIRCLE-1(1), NAGPUR

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

153C has not been followed; On this count alone, we conclude that the alleged additions made in assessments made under section 153A for unabated years i.e., A.Y. 2014-15, 2015-16 & 2016-17 on the date of search (i.e., 11/07/2019) on the assessee, in the absence of any incriminating material found during the course of search from the premises

M/S MAHESHWARI COAL BENEFICATION & INFRASTRUCTURE P LTD.,BILASPUR vs. ACIT CENTRAL CIRCLE 1(1), NAGPUR

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

153C has not been followed; On this count alone, we conclude that the alleged additions made in assessments made under section 153A for unabated years i.e., A.Y. 2014-15, 2015-16 & 2016-17 on the date of search (i.e., 11/07/2019) on the assessee, in the absence of any incriminating material found during the course of search from the premises

M/S MAHESHWARI COAL BENEFICATION & INFRASTRUCTURE P LTD.,BILASPUR vs. ACIT CENTRAL CIRCLE 1(1), NAGPUR

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

153C has not been followed; On this count alone, we conclude that the alleged additions made in assessments made under section 153A for unabated years i.e., A.Y. 2014-15, 2015-16 & 2016-17 on the date of search (i.e., 11/07/2019) on the assessee, in the absence of any incriminating material found during the course of search from the premises

M/S MAHESHWARI COAL BENEFICATION & INFRASTRUCTURE P LTD.,BILASPUR vs. ACIT CENTRAL CIRCLE 1(1), NAGPUR

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

153C has not been followed; On this count alone, we conclude that the alleged additions made in assessments made under section 153A for unabated years i.e., A.Y. 2014-15, 2015-16 & 2016-17 on the date of search (i.e., 11/07/2019) on the assessee, in the absence of any incriminating material found during the course of search from the premises

M/S MAHESHWARI COAL BENEFICATION & INFRASTRUCTURE P LTD.,BILASPUR vs. ACIT CENTRAL CIRCLE 1(1), NAGPUR

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

153C has not been followed; On this count alone, we conclude that the alleged additions made in assessments made under section 153A for unabated years i.e., A.Y. 2014-15, 2015-16 & 2016-17 on the date of search (i.e., 11/07/2019) on the assessee, in the absence of any incriminating material found during the course of search from the premises

M/S MAHESHWARI COAL BENEFICATION & INFRASTRUCTURE P LTD,BILASPUR vs. ACIT CENTRAL CIRCLE 1(1), NAGPUR

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

153C has not been followed; On this count alone, we conclude that the alleged additions made in assessments made under section 153A for unabated years i.e., A.Y. 2014-15, 2015-16 & 2016-17 on the date of search (i.e., 11/07/2019) on the assessee, in the absence of any incriminating material found during the course of search from the premises

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

In the result, appeals filed by the Revenue are dismissed

property of Rs.3,72,266/- as\nbusiness income\n3.\nOn the facts and circumstances of the case, the learned CIT(A) erred\nin deleting the disallowance made by the Assessing Officer of Rs.1,11,680/-\nand treating the same as business income, which was claimed as deduction\nu/s.24 by the assessee.\n4.\nOn the facts and in the circumstances

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

In the result, appeals filed by the Revenue are dismissed

property of Rs.3,72,266/- as\nbusiness income\n3. On the facts and circumstances of the case, the learned CIT(A) erred\nin deleting the disallowance made by the Assessing Officer of Rs.1,11,680/-\nand treating the same as business income, which was claimed as deduction\nu/s.24 by the assessee.\n4. On the facts and in the circumstances

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. M/S THANJAVUR COMMERCE PVT. LTD.,, NAGPUR

In the result, appeals filed by the Revenue are dismissed

property of Rs.3,72,266/- as\nbusiness income\n3. On the facts and circumstances of the case, the learned CIT(A) erred\nin deleting the disallowance made by the Assessing Officer of Rs.1,11,680/-\nand treating the same as business income, which was claimed as deduction\nu/s.24 by the assessee.\n4. On the facts and in the circumstances

DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. M/S MANSA AGRO FOOD PROCESSING PVT. LTD.,, NAGPUR

In the result, appeals filed by the Revenue are dismissed

property of Rs.3,72,266/- as\nbusiness income\n3. On the facts and circumstances of the case, the learned CIT(A) erred\nin deleting the disallowance made by the Assessing Officer of Rs.1,11,680/-\nand treating the same as business income, which was claimed as deduction\nu/s.24 by the assessee.\n4. On the facts and in the circumstances

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

section 139(1) of the Income Tax Act, 1961 (for short "the Act") disclosing total income at ` 4,47,650. A gist of written submissions filed by the learned departmental representative are as under:– “The assessee has filed his return of income for the A.Y. 2017-18 u/s 139(1) of The Income

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), NAGPUR vs. DEEPAK SURESH GADGE, NAGPUR

In the result, appeal of the Revenue is dismissed

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

153C of Income Tax Act 1961 As per the balance sheet for the year ending on 31/03/2018 there is no addition to investment in purchase of shares. As per financial statements, advance was given to Shri Atul Yamsanwar at Rs. 1,86,97,250/- as per Schedule G Loan and Advances. As per the balance sheet for the year ending

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), NAGPUR vs. DEEPAK SURESH GADGE, NAGPUR

In the result, appeal of the Revenue is dismissed

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

153C of Income Tax Act 1961 As per the balance sheet for the year ending on 31/03/2018 there is no addition to investment in purchase of shares. As per financial statements, advance was given to Shri Atul Yamsanwar at Rs. 1,86,97,250/- as per Schedule G Loan and Advances. As per the balance sheet for the year ending