SMT. ANJU SARAF,,NAGPUR vs. A,C.I.T CENT CIR. 2(2), 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

92,17,850. The assessee claimed deduction under section 80IB of the Act for an amount of Rs. 2,49,12,652. The 4 Smt. AanjuSaraf assessment under section 143(3) r/w section 147 of the Act was passed on 31st December 2009, assessing income at Rs. 10,41,30,497. The Tribunal quashed the order passed under section

SMT. ANJU SARAF,,NAGPUR vs. A,C.I.T CENT CIR. 2(2), 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

92,17,850. The assessee claimed deduction under section 80IB of the Act for an amount of Rs. 2,49,12,652. The 4 Smt. AanjuSaraf assessment under section 143(3) r/w section 147 of the Act was passed on 31st December 2009, assessing income at Rs. 10,41,30,497. The Tribunal quashed the order passed under section

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

92,17,850. The assessee claimed deduction under section 80IB of the Act for an amount of Rs. 2,49,12,652. The 4 Smt. AanjuSaraf assessment under section 143(3) r/w section 147 of the Act was passed on 31st December 2009, assessing income at Rs. 10,41,30,497. The Tribunal quashed the order passed under section

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

92,17,850. The assessee claimed deduction under section 80IB of the Act for an amount of Rs. 2,49,12,652. The 4 Smt. AanjuSaraf assessment under section 143(3) r/w section 147 of the Act was passed on 31st December 2009, assessing income at Rs. 10,41,30,497. The Tribunal quashed the order passed under section

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

92,17,850. The assessee claimed deduction under section 80IB of the Act for an amount of Rs. 2,49,12,652. The 4 Smt. AanjuSaraf assessment under section 143(3) r/w section 147 of the Act was passed on 31st December 2009, assessing income at Rs. 10,41,30,497. The Tribunal quashed the order passed under section

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

92,732/-which was allowable salary on book profit of Rs. 50,04,554/- after reducing unaccounted stock of Rs. 85,00,000/- As stated above, I have restricted the undisclosed investment u/s 69B at Rs. 69,37,859/- As this income is taxed as deemed income under Chapter VI of the Act, the appellant is not eligible to treat

RAMKRUSHNA ZILBAJI THAKRE ,NAGPUR vs. INCOME TAX OFFICER , WRAD -4(4), NAGPUR

In the result, appeal of the assessee is allowed

house as utilization of said consideration were submitted. 7. That spouse of petitioner is not required to pay Income Tax on such transaction as capital gain in view of investment in specified assets 8. That affidavit of both witnesses to said agreement to sale were submitted and are on record In such situation, it is submitted that observation

VINAY RAMSHARANDAS AGRAWAL,NAGPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX-II, NAGPUR

In the result, appeal by the assessee stands allowed

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

house property, income from capital gain and income from other sources. Necessary enquiries were conducted by the Assessing Officer by issuing 4 Vinay Ramsharandas Agrawal ITA no.110/Nag./2023 statutory notices in response to which the assessee furnished details of sources of income, capital introduction and specific details of capital gain were called and examined. The assessee, in response

SUFALAM INFRA PROJECTS LTD ,NAGPUR vs. PR. CIT (CENTRAL ), NAGPUR

In the result, the departmental appeal is dismissed

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

92 Taxman 541(SC), the Hon'ble Supreme Court held that amendment introduced by the Finance Act, 1987 in so far the related to Section 27(iii), (iiia) and (iiib) which redefined the expression owner of house property

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), NAGPUR, NAGPUR vs. M/S. SUFLAM INFRA PROJECT LTD, NAGPUR

In the result, the departmental appeal is dismissed

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

92 Taxman 541(SC), the Hon'ble Supreme Court held that amendment introduced by the Finance Act, 1987 in so far the related to Section 27(iii), (iiia) and (iiib) which redefined the expression owner of house property

SHRI SUNIL RAISONI,,NAGPUR vs. D.C.I.T. CENTRALCIRCLE 2(3), NAGPUR

In the result, these appeal filed by the assessees stand allowed

Bench: Shri Shamim Yahya.

92,500/- stating that the assessee has neither specified nor substantiated the manner in which income was earned. The assessee further stated that had there been no search u/s 132 of Income Tax Act, 1961, the assessee would have successfully evaded taxes on the impugned undisclosed income declared u/s 132(4) of the Income Tax Act, 1961. 6. Upon assessee

SMT. VEENA MAHESHWARI ,NAGPUR vs. DY.C.I.T,CIRCLE-1,NAGPUR , NAGPUR

Appeal is allowed in above terms

Bench: Shri S.S.Godara & Shri Dr.Dipak P. Ripoteआयकर अपीलसं. / Ita No.323/Nag/2017 िनधा"रणवष" / Assessment Year : 2006-07 Smt.Veena Maheshwari, The Dy.Cit, Circle-1, 2Nd Floor, 52/2, Kinkhede Lay Vs. Nagpur. Out, Temple Road, Nagpur – 440001. Pan: Abxpm 3150 B Appellant/ Assessee Respondent /Revenue Assessee By None. Revenue By Shri G.J.Ninawe – Dr Date Of Hearing 16/11/2022 Date Of Pronouncement 10/01/2023 आदेश/ Order Per S.S.Godara, Jm: This Assessee’S Appeal For Assessment Year 2006-07 Is Directed Against The Commissioner Of Income Tax(Appeal)-1, Nagpur’S Dated 11.05.2017 In Case No.Cit(A)-1/148/2014-15, In Proceedings U/S.143(3) R.W.S 147 Of The Income Tax Act, 1961 [In Short “The Act”].

92,440/-, it is seen that the appellant has declared gains made on sale of 17,886 shares of M/s Virangana Steel Ltd. as LTCG on the ground of holding period; their disclosure & accounting in appellant’s balance sheet as investments and valued as such & not as stock-in trade valued at cost or market price whichever is lower; & that

PRITAM SINGH CHARAN SINGH GUJJAR,NAGPUR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4,, NAGPUR

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao

Housing Society, Gittikhadan, Nagpur, for a sale consideration of ` 37,00,000. The market value of the property was shown at ` 40,22,000, for stamp duty purposes. The Assessing Officer adopted the stamp duty valuation for computing profit and gains arising on sale of property by the assessee. The Assessing officer has not brought any evidence on record

SHREE MAYA REAL ESTATE PVT. LTD.,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), NAGPUR

In the result, appeal filed by the assessee is allowed

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

92,250 34,04,000 32,27,000 1,34,750 2. D–2/702 32,24,750 40,40,000 37,36,000 5,11,250 3. F–1/502 33,94,500 35,39,000 34,30,000 35,500 Total 97,11,500 1,09,83,000 1,03,93,000 6,81,500 The difference between agreement value

SHREE MAYA REAL ESTATE PVT. LTD.,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), NAGPUR

In the result, appeal filed by the assessee is allowed

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

92,250 34,04,000 32,27,000 1,34,750 2. D–2/702 32,24,750 40,40,000 37,36,000 5,11,250 3. F–1/502 33,94,500 35,39,000 34,30,000 35,500 Total 97,11,500 1,09,83,000 1,03,93,000 6,81,500 The difference between agreement value

SHRI DHIRAJ RAMBHAU LINGADE L/H OF LATE SMT. MEENAKSHI RAMBHAU MLINGADE,,BULDHANA vs. A.C.I.T. , AKOLA CIRCLE, AKOLA

In the result the appeal of the Assessee is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year: 2012-13 Shri Dhiraj Rambhau Lingade Vs. The Acit L/H Of Late Smt. Meenakshi Rambhau Lingade Akola Circle Buldhana Akola Pan No.:Abopl 3689 P Appellant Respondent Assessee By: Shri S.C. Thakar, Adv. Shri Kapil Hirani, Adv Revenue By :Smt. Agnes P Thomas (Cit-Dr) Date Of Hearing: 27/04/2022 Date Of Pronouncement: 8 /6/2022 Order Per: Sandeep Gosain, J.M.

92 plots. g. The said application was allowed by the Collector Buldhana by order dated 30.3.1992 and layout plan was approved. Out of the total layout some plots were donated by the Appellant in the year 1994 and 1998-99. Rest of the plot was retained by the Appellant until the sale of the same in the impugned A.Y which

THE AMRAVATI PEOPLE CO-OP BANK LTD ( NOW MERGED IN THE COSMOS CO-OP BANK LTD),AMARAVATI vs. D.C.I.T. AMRAVATI CIRCLE, AMARAVATI

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकरअपीलसं. / Ita No. 309/Nag/2015 "नधा"रणवष" / Assessment Year : 2008-09 The Amravati Peoples Co-Op. Bank Limited (Now Merged In The Cosmos Co-Op. Bank Ltd.) C/O. Cosmos Co-Op Bank Ltd. Jawahar Road, Amravati-444601. Pan : Aaact5899B .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax, Amravati Circle, Amravati. ……""यथ" / Respondent Assessee By : Shri S.G. Gandhi, Ar Revenue By : Smt. Agnes P. Thomas, Dr सुनवाईक"तार"ख / Date Of Hearing : 18.02.2022 घोषणाक"तार"ख / Date Of Pronouncement : 09.05.2022

property business speculative term term sources sources DD/MM/YYYY) loss other than business capital capital Loss( loss ( loss from loss loss other from speculative than loss owning business from race race houses) houses) I 1999-00 Rs. In Ii 2000-01 Lakh

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

92 TTJ 0464 (Cuttack) iii. ITAT order in ITA No.250/Mum/2013 in the case of M/s. Riveria Properties Pvt. Ltd. vide order dated 27/10/2017 iv. ITAT order in ITA No. 1502/AHD/2015 in the case of Nishant Construction Pvt. Ltd. vide order dated 14/02/2017 v. Common Cause (A Registered Society) vs. Union of India (2017) 77 taxmann.com 245 (SC) vi. PCIT