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 as it is evident that the credit on account of rent. The addition under section 24 of the Act to the extent of 30

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 as it is evident that the credit on account of rent. The addition under section 24 of the Act to the extent of 30

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 as it is evident that the credit on account of rent. The addition under section 24 of the Act to the extent of 30

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 as it is evident that the credit on account of rent. The addition under section 24 of the Act to the extent of 30

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 PRAKASH JIWANDAS WANJARI,NAGPUR vs. JOINT COMMISSIONER OF INCOME TAX, NAGPUR

In the result, we are of the considered view that the case on hand does not warrant levy of penalty under Section 271D of the Act

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

30,000/- to the assessee to enable him to purchase a house property and for his medical treatment. The assessee is therefore giving contradictory statements regarding the purpose o the cash loans and hence his explanation is not satisfactory. 20 With reference to this the appellant wishes to submit that he its already stated in his submission about

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

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 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 SHREE AGRAWAL FINANCE INDIA P. LTD.,, NAGPUR

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

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. COMMISSIONER OF INCOME TAX, CIRCLE-3, NAGPUR, NAGPUR vs. VINODKUMAR RAJENDRALAL KOCHHAR, KAMPTEE

In the result, the appeal filed by the department is dismissed

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

House Property, Income from Business, Income from Capital Gains and Income from other sources. 2. That the assessee has during the captioned assessment year opted for computation of his income U/s. 44AD in respect of his business activity. That the assessee while filing his return of Income u/s. 139(1) has filled the PART A-BS - Balance Sheet

SHRI VISHWAKARAMA JEWELLERS ,AKOLA vs. DCIT AKOLA CIRCLE, AKOLA

In the result, assessee’s appeal is allowed

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

house property, (iii) 'profits and gains from business or profession', (iv) 'capital gains' and (v) 'income from other sources cannot at all be adjusted against unexplained investment or expenditure. What is necessary as per Hon'ble Gujarat High Court is that source of acquisition of asset or expenditure should be clearly identifiable. In the case before Hon'ble Gujarat High