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

section 153A(1) read with „Expln-2‟; in absence of this, assessment made u/s153C would be invalid & is liable to be quashed; relied on Goldstone Cements Ltd (2023) (Gau HC); Fortune Vanijya (P) Ltd (2023) (Gau HC).” 40. In the appeal of the assessee bearing ITA No.111/Nag/ 2024, for the assessment year 2012-13 along with following additional ground

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

section 153A(1) read with „Expln-2‟; in absence of this, assessment made u/s153C would be invalid & is liable to be quashed; relied on Goldstone Cements Ltd (2023) (Gau HC); Fortune Vanijya (P) Ltd (2023) (Gau HC).” 40. In the appeal of the assessee bearing ITA No.111/Nag/ 2024, for the assessment year 2012-13 along with following additional ground

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

section 153A(1) read with „Expln-2‟; in absence of this, assessment made u/s153C would be invalid & is liable to be quashed; relied on Goldstone Cements Ltd (2023) (Gau HC); Fortune Vanijya (P) Ltd (2023) (Gau HC).” 40. In the appeal of the assessee bearing ITA No.111/Nag/ 2024, for the assessment year 2012-13 along with following additional ground

CHANDRA SURESH KOTHARI,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, NAGPUR

In the result, both these appeals of the assessee are allowed

Bench: Shri Sandeep Gosain, Jm & Shri O.P. Kant, Am

house property and other sources. The assessee had filed his return of income on 31/07/2014 declaring total income of Rs.19,66,100/-. A search and seizure operation U/s 132 of the Act was carried out at the residential premises of the assessee on 10/09/2014. The A.O. completed the assessment vide order dated 29/12/2016 determining total income of the assessee

CHANDRA SURESH KOTHARI,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 2(2), NAGPUR

In the result, both these appeals of the assessee are allowed

Bench: Shri Sandeep Gosain, Jm & Shri O.P. Kant, Am

house property and other sources. The assessee had filed his return of income on 31/07/2014 declaring total income of Rs.19,66,100/-. A search and seizure operation U/s 132 of the Act was carried out at the residential premises of the assessee on 10/09/2014. The A.O. completed the assessment vide order dated 29/12/2016 determining total income of the assessee

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

275 (Chen-Trib). 18. Further, it is submitted that similarly, addition of ` 3,99,600 on account of interest on such unsecured loan taken from M/s.Gazal Textiles & Finance P Ltd, Kolkata; Best Advisory P Ltd; Lily Abasan P. Ltd. is unjustified and is liable to be deleted, because all the 3 aforesaid unsecured loan amounts to the said loan creditors

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

275 (Chen-Trib). 18. Further, it is submitted that similarly, addition of ` 3,99,600 on account of interest on such unsecured loan taken from M/s.Gazal Textiles & Finance P Ltd, Kolkata; Best Advisory P Ltd; Lily Abasan P. Ltd. is unjustified and is liable to be deleted, because all the 3 aforesaid unsecured loan amounts to the said loan creditors

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

275 (Chen-Trib). 18. Further, it is submitted that similarly, addition of ` 3,99,600 on account of interest on such unsecured loan taken from M/s.Gazal Textiles & Finance P Ltd, Kolkata; Best Advisory P Ltd; Lily Abasan P. Ltd. is unjustified and is liable to be deleted, because all the 3 aforesaid unsecured loan amounts to the said loan creditors

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

275 (Chen-Trib). 18. Further, it is submitted that similarly, addition of ` 3,99,600 on account of interest on such unsecured loan taken from M/s.Gazal Textiles & Finance P Ltd, Kolkata; Best Advisory P Ltd; Lily Abasan P. Ltd. is unjustified and is liable to be deleted, because all the 3 aforesaid unsecured loan amounts to the said loan creditors

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

275 (Chen-Trib). 18. Further, it is submitted that similarly, addition of ` 3,99,600 on account of interest on such unsecured loan taken from M/s.Gazal Textiles & Finance P Ltd, Kolkata; Best Advisory P Ltd; Lily Abasan P. Ltd. is unjustified and is liable to be deleted, because all the 3 aforesaid unsecured loan amounts to the said loan creditors

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

275 (Chen-Trib). 18. Further, it is submitted that similarly, addition of ` 3,99,600 on account of interest on such unsecured loan taken from M/s.Gazal Textiles & Finance P Ltd, Kolkata; Best Advisory P Ltd; Lily Abasan P. Ltd. is unjustified and is liable to be deleted, because all the 3 aforesaid unsecured loan amounts to the said loan creditors

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

275/- (after rectification Rs.44.94.814/-).\nPage | 5\nITA Nos. 173, 174 & 175/NAG/2016\nM/s. Shree Agrawal Finance India Pvt., Ltd., &\nITA No.178/NAG/2016\nM/s. Thanjavur Commerce Pvt., Ltd. &\nITA No.294/NAG/2016\nShri Dharampal R. Agrawal &\nITA No.375/NAG/2016\nM/s. Mansa Agro Food Processing Pvt. Ltd.\nGrounds raised in ITA No. 175/NAG/2016 (A.Y. 2010-11)\n\"1. On the facts and circumstances of the case

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

275/- (after rectification Rs.44.94.814/-).”\nPage | 5\nITA Nos. 173, 174 & 175/NAG/2016\nM/s. Shree Agrawal Finance India Pvt., Ltd., &\nITA No.178/NAG/2016\nM/s. Thanjavur Commerce Pvt., Ltd. &\nITA No.294/NAG/2016\nShri Dharampal R. Agrawal &\nITA No.375/NAG/2016\nM/s. Mansa Agro Food Processing Pvt. Ltd.\nGrounds raised in ITA No. 175/NAG/2016 (A.Y. 2010-11)\n\"1. On the facts and circumstances of the case

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

275/- (after rectification Rs.44.94.814/-).\nPage | 5\nITA Nos. 173, 174 & 175/NAG/2016\nM/s. Shree Agrawal Finance India Pvt., Ltd., &\nITA No.178/NAG/2016\nM/s. Thanjavur Commerce Pvt., Ltd. &\nITA No.294/NAG/2016\nShri Dharampal R. Agrawal &\nITA No.375/NAG/2016\nM/s. Mansa Agro Food Processing Pvt. Ltd.\nGrounds raised in ITA No. 175/NAG/2016 (A.Y. 2010-11)\n“1. On the facts and circumstances of the case

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

275/- (after rectification Rs.44.94.814/-).\nPage | 5\nITA Nos. 173, 174 & 175/NAG/2016\nM/s. Shree Agrawal Finance India Pvt., Ltd., &\nITA No.178/NAG/2016\nM/s. Thanjavur Commerce Pvt., Ltd. &\nITA No.294/NAG/2016\nShri Dharampal R. Agrawal &\nITA No.375/NAG/2016\nM/s. Mansa Agro Food Processing Pvt. Ltd.\nGrounds raised in ITA No. 175/NAG/2016 (A.Y. 2010-11)\n\"1. On the facts and circumstances of the case

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

275/- (after rectification Rs.44.94.814/-).\nPage | 5\nITA Nos. 173, 174 & 175/NAG/2016\nM/s. Shree Agrawal Finance India Pvt., Ltd., &\nITA No.178/NAG/2016\nM/s. Thanjavur Commerce Pvt., Ltd. &\nITA No.294/NAG/2016\nShri Dharampal R. Agrawal &\nITA No.375/NAG/2016\nM/s. Mansa Agro Food Processing Pvt. Ltd.\nGrounds raised in ITA No. 175/NAG/2016 (A.Y. 2010-11)\n\"1. On the facts and circumstances of the case

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

275/- (after rectification Rs.44.94.814/-).\nPage | 5\nITA Nos. 173, 174 & 175/NAG/2016 M/s. Shree Agrawal Finance India Pvt., Ltd., &\nITA No.178/NAG/2016 M/s. Thanjavur Commerce Pvt., Ltd. &\nITA No.294/NAG/2016 Shri Dharampal R. Agrawal &\nITA No.375/NAG/2016 M/s. Mansa Agro Food Processing Pvt. Ltd.\nGrounds raised in ITA No. 175/NAG/2016 (A.Y. 2010-11)\n"1. On the facts and circumstances of the case