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

69 of the Act. The source of investment 2 Vijaya Vinod Duragkar in property being from explainable sources and the source of investment in property being held to be explained in the hands of the co-owner of the property, the addition so made is illegal and liable to be deleted in the interest of justice. 3. On the facts

SMT . RAJANI SURENDRA ADAMANE ,NAGPUR vs. INCOME TAX OFFICER WARD 6(1), NAGPUR

In the result, Assessee’s appeal is allowed in the aforesaid terms

Bench: Shri Narender Kumar Choudhrysmt. Rajani Surendra Ito, Ward-4(4), Nagpur Adamane, Plot No.30, Near Ghodke School Surendra Vs. Nagar, Hudkeshwar Road, Nagpur-440024. Pan: Alapa 9897 L (Appellant) (Respondent)

house owned by her husband. 4. The Ld. AO though considered the aforesaid claim of the Assessee, however, not accepted the same in view of the provisions of section 54(2) and observed that the Assessee has not deposited the amount of unutilized in the capital gain in scheme till the date of filing of return and therefore

MANOJ KUMAR VISHANDAS KAMNANI ,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL 2(2) , NAGPUR

In the result, appeal filed by the assessee is allowed

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

section 69 of the Act; (ii) the estimated profit on turnover @ 8%, i.e., ` 11,97,016; and (iii) ` 64,06,268/-, which has not been disputed in this appeal. Aggrieved, the assessee filed appeal before the first appellate authority. Manoj Kumar Vishandas Kamnani ITA no.58/Nag./2023 5. Before the learned CIT(A), the assessee made following submissions

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

69 in hand of assessee [In favour of revenue]" Thus, in light of above discussion and case laws, it can fairly be concluded that the assessee has received on money which was rightly treated as unexplained money under section 69A and added to the total income by the Assessing Officer and confirmed by CIT(A).” 4. The learned Departmental Representative

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

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

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

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

69,20,275/- (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

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

69,20,275/- (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

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

69,20,275/- (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

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

69,20,275/- (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

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

69,20,275/- (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

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

69,20,275/- (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

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

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