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

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

section 50C deserves to be ignored in the interest of justice. Naresh Vasantrai Trivedi ITA no.108/Nag./2021 6) The Ld. CIT(A) grossly erred in enhancing the income of the Appellant on account of income from house property from the houses owned by the Appellant without providing any cogent reasons for the same and further by ignoring the submissions

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

section 50C deserves to be ignored in the interest of justice. Naresh Vasantrai Trivedi ITA no.108/Nag./2021 6) The Ld. CIT(A) grossly erred in enhancing the income of the Appellant on account of income from house property from the houses owned by the Appellant without providing any cogent reasons for the same and further by ignoring the submissions

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

section 50C deserves to be ignored in the interest of justice. Naresh Vasantrai Trivedi ITA no.108/Nag./2021 6) The Ld. CIT(A) grossly erred in enhancing the income of the Appellant on account of income from house property from the houses owned by the Appellant without providing any cogent reasons for the same and further by ignoring the submissions

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

section 50C deserves to be ignored in the interest of justice. Naresh Vasantrai Trivedi ITA no.108/Nag./2021 6) The Ld. CIT(A) grossly erred in enhancing the income of the Appellant on account of income from house property from the houses owned by the Appellant without providing any cogent reasons for the same and further by ignoring the submissions

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 24(b) of the Income Tax Act, 1961. 4.18 On the above mentioned preposition, assessee placed reliance on following judgments – 1. (2009) 313 ITR 0340 (Bom. HC) Commissioner of Income Tax -Vs- Reliance Utilities & Power Ltd. 2. (2013) 88 DTR 0151 (Mum. ITAT) Windermere Properties (P) Ltd. –vs- Deputy Commissioner of Income Tax. 3. Judgment of Hon’ble ITAT

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

property as per registered sale deed is residential house under construction with built–up area of 158.55 sq.mtrs. on the piece of plot measuring 19,200 sq.mtrs. in survey no.11/1, Mauja Navsari, District Amravati. The land is consistently used for agricultural purpose. It is beyond the scope of wildest imagination that usage of land is ambulatory even when character

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

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. 6. Any other ground that may be urged at the time of hearing.” 2. Before us, during the course of hearing, while going through the material available on record filed by the learned Authorised Representatives appearing for the assessee, it is evident that the assessee company had gone under insolvency proceeding under Insolvency and Bankruptcy Code

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. 6. Any other ground that may be urged at the time of hearing.” 2. Before us, during the course of hearing, while going through the material available on record filed by the learned Authorised Representatives appearing for the assessee, it is evident that the assessee company had gone under insolvency proceeding under Insolvency and Bankruptcy Code

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. 6. Any other ground that may be urged at the time of hearing.” 2. Before us, during the course of hearing, while going through the material available on record filed by the learned Authorised Representatives appearing for the assessee, it is evident that the assessee company had gone under insolvency proceeding under Insolvency and Bankruptcy Code

VIJAY VINOD DURAGKAR,NAGPUR vs. INCOME TAX OFFICER WARD 4(4), 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”, “income from business & profession” and “income from other sources”. The case was re–opened and notice under section 148 of the Income Tax Act, 1961 ("the Act") was issued on 20/03/2020. The assessee, while 3 Vijaya Vinod Duragkar responding to the notice under section 148 of the Act, vide her letter dated 30/03/2021, submitted that she having already

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

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

19. 2. In its appeal, the assessee has raised following grounds:– “Ground No.1 That the Lower Authorities erred in Law and Fact in not considering the cost of Improvement to the property under consideration at Rs.23,26,486/- as per year wise details furnished in the computation of Income and adopted index cost of improvement as nil. In as much

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

Section 32(l)(iia) of the Act which is not permissible. 13. Therefore, question no.(I) is answered in the affirmative i.e. in favour of the respondent-assessee and against the appellant- Revenue.” 20. Therefore, relying upon the order of the Hon’ble Bombay High Court and in view of the observations of the learned CIT(A), the learned Counsel