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7 results for “penalty u/s 271”+ Long Term Capital Gainsclear

Sorted by relevance

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Key Topics

Section 271(1)(c)10Section 1485Addition to Income5Section 36(1)(viii)4Section 50C3Long Term Capital Gains3Deduction3Section 10(38)2Section 143(3)2

JEETENDRA CHANDRAKANT NAYAK,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOM TAX(OSD), NAGPUR

In the result, the appeal filed by the assessee is allowed

ITA 368/NAG/2023[2015-2016]Status: DisposedITAT Nagpur27 Jun 2024AY 2015-2016

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

For Appellant: Shri M.G.Moryani, AdvocateFor Respondent: Shri Rajat Singhai, Sr. DR
Section 143(3)Section 234ASection 250Section 54F

u/s 234A, 234B and 234C of the Income Tax Act is unjustified, unwarranted and excessive. Shri Jeetendra Chandrakant Nayak vs. ACIT (OSD) ITA no. 368/Nag./2023 7] The assessee craves leave to amend, add or take a new ground or grounds at the time of hearing.” 3. The facts of the case of the assessee as culled out from

Section 222
Section 80P2
Penalty2

DY. C.I.T. CIR-.2, NAGPUR vs. SHRI GOVINDDAS GOVERDHAN DAGA, NAGPUR

In the result, cross-objection filed by the assessee stands dismissed

ITA 517/NAG/2016[2012-13]Status: DisposedITAT Nagpur05 Feb 2025AY 2012-13
For Appellant: NoneFor Respondent: Shri Sandipkumar Salunke
Section 147Section 148Section 44A

penalty\nproceedings a/s 272.4(2)(c) of the L.T. Act, 1961 and to take other necessary\nsteps under the law.\"\n5.1 The AR of-the assessee later on submitted copies of assessment order\npassed by ACIT(CC)-1(4). Nagpur, u/s 143(3) and stated that the undersigned\nhad no jurisdiction to issue notice u/s

BHAVIKA GUNWANT PATEL,NAGPUR vs. INCOME TAX OFFICER, WARD 4(3), NAGPUR

In the result, appeal filed by the assessee are allowed

ITA 366/NAG/2023[2012-13]Status: DisposedITAT Nagpur14 May 2024AY 2012-13

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

For Appellant: Shri Rajesh LoyaFor Respondent: Shri Abhay R. Marathe
Section 10(38)Section 143(3)Section 271(1)(c)Section 69C

long term capital gain and claimed the same as exempt for taxation purpose as per the provisions of section 10(38) of the Act. Subsequently, the case was re–opened by the Assessing Officer. On the basis of information available on record and other details, the Assessing Officer has calculated @ 3% of commission and accommodation

MRS. DEVYANI AJIT MULIK,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCEL-1, NAGPUR

In the result, the appeal of the assessee is allowed

ITA 1/NAG/2023[2016-17]Status: DisposedITAT Nagpur18 Mar 2024AY 2016-17

Bench: Shri S.S.Godara & Dr. Dipak P. Ripote

Section 250Section 271(1)(c)Section 50C

long term capital gain shown by the assessee in the return of income and as calculated by the AO. AO also initiated penalty u/s.271(1)(c) for furnishing inaccurate particulars of income. Vide order dated 28.06.2019, AO levied penalty u/s. 271

TAJSHREE AUTOWHEELS PRIVATE LIMITED,NAGPUR vs. ACIT CIRCLE-4, NAGPUR

In the result, assessee’s appeal is allowed for statistical purposes

ITA 400/NAG/2024[2014-15]Status: DisposedITAT Nagpur04 Mar 2025AY 2014-15

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

For Appellant: Shri Madhav VichoreFor Respondent: Shri Abhay Y. Marathe
Section 56(2)Section 56(2)(viib)

long term and short term funding requirements for the purpose of running its business. The capital has been raised by issuing certain number of shares at certain price, which is again within the domain of assessee to decide. The assessee in captioned case issued shares at premium based on the value decided by the board of Directors of the company

VIDHARBHA KONKAN GRAMIN BANK ,NAGPUR vs. INCOME TAX OFFICER WARD 1(5) , NAGPUR

In the result, appeal filed by the assessee for A

ITA 8/NAG/2019[2015-2016]Status: DisposedITAT Nagpur28 Nov 2024AY 2015-2016

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

For Appellant: Shri C. NareshFor Respondent: Shri Sandipkumar Salunke
Section 22Section 36(1)Section 36(1)(viia)Section 36(1)(viii)Section 80P

capital and of the general reserves of the specified entity, no allowance under this clause shall be made in respect of such excess." 11. For computing the income under the head 'business income certain deductions are allowed from such business income and one such deduction is laid down in section 36(1) (vii) of the Act. The said section provides

VIDHARBHA KONKAN GRAMIN BANK ,NAGPUR vs. INCOME TAX OFFICER WARD 1(5) , NAGPUR

In the result, appeal filed by the assessee for A

ITA 7/NAG/2019[2014-15]Status: DisposedITAT Nagpur28 Nov 2024AY 2014-15

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

For Appellant: Shri C. NareshFor Respondent: Shri Sandipkumar Salunke
Section 22Section 36(1)Section 36(1)(viia)Section 36(1)(viii)Section 80P

capital and of the general reserves of the specified entity, no allowance under this clause shall be made in respect of such excess." 11. For computing the income under the head 'business income certain deductions are allowed from such business income and one such deduction is laid down in section 36(1) (vii) of the Act. The said section provides