ALFIYA AYAZALI SAYYAD,NAGPUR vs. INCOME TAX OFFICER, WARD-2(2), NAGPUR

In the result, appeal filed by the assessee is allowed

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

penalty levied by the learned AO of Rs.45,00,000/- under section 271(1)(c) of the Act. 2. Whether in the facts and circumstances, the learned AO erred. in not recording proper satisfaction in the show cause notice issued u/s 274 r.w.s 271(1)(c) of the Act, dated 27/12/2017. 3. Whether in the facts and circumstances, the learned

DY. C.I.T. CIR-.1, NAGPUR vs. SHRI HEMRAJ PUNEKAR,

In the result this appeal by the Revenue stands allowed for statistical purposes

Bench: Shri Shamim Yahya. (S.M.C.)

purchased these goods and same were just the books entries. This amount of Rs.35,48,955/- is disallowed and added to the total income of the assessee. Penalty proceedings u/s 271(1)(c) of the Income Tax Act, 1961 are initiated separately for furnishing inaccurate particulars of income.” 3. Upon assessee's appeal Learned CIT(Appeals) deleted the addition

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

Penalty proceedings u/s 271(l)(c) of the IT Act are initiated separately.” 27 Smt. AanjuSaraf 41. Ld AR on the other hand submitted the observations of Ld CIT(A) from the appellate order, wherein the learned CIT(A) considering the submissions of the assessee and keeping in view the facts and circumstances of the case, confirmed the order

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

Penalty proceedings u/s 271(l)(c) of the IT Act are initiated separately.” 27 Smt. AanjuSaraf 41. Ld AR on the other hand submitted the observations of Ld CIT(A) from the appellate order, wherein the learned CIT(A) considering the submissions of the assessee and keeping in view the facts and circumstances of the case, confirmed the order

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

Penalty proceedings u/s 271(l)(c) of the IT Act are initiated separately.” 27 Smt. AanjuSaraf 41. Ld AR on the other hand submitted the observations of Ld CIT(A) from the appellate order, wherein the learned CIT(A) considering the submissions of the assessee and keeping in view the facts and circumstances of the case, confirmed the order

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

Penalty proceedings u/s 271(l)(c) of the IT Act are initiated separately.” 27 Smt. AanjuSaraf 41. Ld AR on the other hand submitted the observations of Ld CIT(A) from the appellate order, wherein the learned CIT(A) considering the submissions of the assessee and keeping in view the facts and circumstances of the case, confirmed the order

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

Penalty proceedings u/s 271(l)(c) of the IT Act are initiated separately.” 27 Smt. AanjuSaraf 41. Ld AR on the other hand submitted the observations of Ld CIT(A) from the appellate order, wherein the learned CIT(A) considering the submissions of the assessee and keeping in view the facts and circumstances of the case, confirmed the order

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

Penalty proceedings u/s 271(l)(c) of the IT Act are initiated separately.” 27 Smt. AanjuSaraf 41. Ld AR on the other hand submitted the observations of Ld CIT(A) from the appellate order, wherein the learned CIT(A) considering the submissions of the assessee and keeping in view the facts and circumstances of the case, confirmed the order

DAYAL AGRO PRODUCTS LTD,AKOLA vs. JCIT, AKOLA RANGE, AKOLA

In the result, the assessee’s appeal is allowed

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

purchased by the appellant company on 01.10.2008 i.e. just 8-9 months ago. No doubt, the money has been routed through banking channels but this fact alone does not reflect genuine business transaction. The profit motive, as normal in case of investment, is also found entirely absent. Any person, who would invest money or give loan, would certainly seek return

SHRI ANIL LAKHANLAL MALVIYA,,NAGPUR vs. DY.CIT- 1,, NAGPUR

In the result, this appeal filed by the assessee stands allowed

Bench: Shri Shamim Yahya & Shri Ram Lal Negi..

purchase and sale of goods and not job Work and as such is not relevant to the facts of the case. Under any case the list merely states a suspicion and does not in any way conclude the parties mentioned therein as bogus. The addition thus sustained placing reliance on the said ‘List’ is illegal and liable to be deletd

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

penalty under section 271(1)(c) and not applied section 271AAB(1A) which only be applicable for a searched person under section 132 for initiation of penalty where search has been initiated on/or after the date (i.e., 15/12/2016). search has been conducted on 11/07/2019 and the only section would be applicable for initiating penalty would be section 271AAB(1A) which

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

penalty under section 271(1)(c) and not applied section 271AAB(1A) which only be applicable for a searched person under section 132 for initiation of penalty where search has been initiated on/or after the date (i.e., 15/12/2016). search has been conducted on 11/07/2019 and the only section would be applicable for initiating penalty would be section 271AAB(1A) which

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

penalty under section 271(1)(c) and not applied section 271AAB(1A) which only be applicable for a searched person under section 132 for initiation of penalty where search has been initiated on/or after the date (i.e., 15/12/2016). search has been conducted on 11/07/2019 and the only section would be applicable for initiating penalty would be section 271AAB(1A) which

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

penalty under section 271(1)(c) and not applied section 271AAB(1A) which only be applicable for a searched person under section 132 for initiation of penalty where search has been initiated on/or after the date (i.e., 15/12/2016). search has been conducted on 11/07/2019 and the only section would be applicable for initiating penalty would be section 271AAB(1A) which

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

penalty under section 271(1)(c) and not applied section 271AAB(1A) which only be applicable for a searched person under section 132 for initiation of penalty where search has been initiated on/or after the date (i.e., 15/12/2016). search has been conducted on 11/07/2019 and the only section would be applicable for initiating penalty would be section 271AAB(1A) which

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

penalty under section 271(1)(c) and not applied section 271AAB(1A) which only be applicable for a searched person under section 132 for initiation of penalty where search has been initiated on/or after the date (i.e., 15/12/2016). search has been conducted on 11/07/2019 and the only section would be applicable for initiating penalty would be section 271AAB(1A) which