ASSISTANT COMMISSIONER OF INCOME TAX , CHANDRAPUR CIRCLE , CHANDRAPUR vs. M/S CHANDRAPUR DISTRICT CENTRAL CO-OPRATIVE BANK LIMTED , CHANDRAPUR

In the result, appeal filed by the Revenue is allowed for statistical purposes

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

10,47,680, after claiming deduction under section 36(1)(viia) of the Act amounting tors 46,57,11,248. The case was selected for scrutiny. By following due process, the assessment was completed under section 143(3) of the Act dated 26/02/2016, assessing total income of ` 23,51,05,202. Subsequently, penalty proceedings were initiated under section 271

ACIT, CHANDRAPUR CIRCLE , CHANDRAPUR vs. CHANDRAPUR DISTT. CENTRAL CO-OP BANK LTD , CHANDRAPUR

In the result, appeal filed by the Revenue is allowed for statistical purposes

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

10,47,680, after claiming deduction under section 36(1)(viia) of the Act amounting tors 46,57,11,248. The case was selected for scrutiny. By following due process, the assessment was completed under section 143(3) of the Act dated 26/02/2016, assessing total income of ` 23,51,05,202. Subsequently, penalty proceedings were initiated under section 271

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

271-1. section 271J, clause (c) or clause (d) of sub-section (1) or sub-section (2) of section 2724, sub-section (1) of section 272AA or section 272B or sub-section (1) or sub-section (1A) of section 272BB or sub-section (1) of section 272BBB or clause (b) of sub- section (1) or clause (b) or clause

BHAKTVATSAL SADGURU YOGIRAJ VASANTRAO GOPALRAO GHONGE MAHARAJ TRUST,WARDHA vs. ACIT CENTRAL CIRCLE-1(1), NAGPUR

In the result, assessee’s appeal stands allowed

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

10. 2. In its appeal, the assessee has raised following grounds:– “1. Assessee is a registered trust under Section 12A of the 1.T. Act, 1961 and also under the Public Trust Act. 2. In assessment order, addition is made by denying the exemption u/s 11 of the Act and disallowing the expenses towards the object of the trust

DCIT CIRCLE-2, NAGPUR vs. M/S TRISTER RETAIL CONCEPTS PRIVATE LIMITED, NAGPUR

In the result, department’s appeal stands dismissed

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

20,81,645/-. During the course of assessment proceedings by issuing show cause notice dated 04/12/2017, assessee was asked to explain why loss on sale of fixed assets debited as revenue expenditure and the same should not be disallowed 4 M/s. Tristar Retail Concepts Pvt. Ltd. ITA no.319/Nag./2024 as per the provisions of I. T. Act, 1961. In response

MOHD ZUBAIR ASHARAFI,NAGPUR vs. THE INCOME TAX OFFICER, WARD - 4(1), NAGPUR

In the result, appeal filed by the assessee is allowed

271(1)(b) of the Act dated 09.09.2022 and\nconfirmed the penalty amount of Rs. 20,000/- for non compliance of notice u/s\n142(1) of the Act dated 30.06.2021 and 24.11.2021\n6. In the result, the appeal is Partly Allowed.\n4.\nThe learned Authorised Representative prayed that deletion of penalty\nof 20,000, is unwarranted in his case

INCOME TAX OFFICER , WARD -4, AMRAVATI vs. SHRI MAHESH SHANKAR SORATE , DARYAPUR

In the result, appeal filed by the Revenue is dismissed

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

20,000, which is other than by way of Account Payee Cheque or Account Payee Demand Draft hence, it is in contravention to the provisions of section 269T of the Act. Accordingly, the learned JCIT levied penalty under section 271E of the Act. Aggrieved, the assessee carried the matter in appeal before the first appellate authority. 6. The case

ASHA VINOD TATTE,AMRAVATI vs. INCOME TAX OFFICER, WARD-1, AMRAVATI

In the result, appeal filed by the assessee is allowed

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

u/s 271D is illegal, invalid and bad in law. 7. Any other ground shall be prayed at the time of hearing.‖ 3. The core issue arising out of the aforesaid grounds of appeal relates to levy of penalty of ` 6,51,000, under Section 271-D of the Income Tax Act, 1961 (―the Act‖) for the violation of provisions

GAJANAND FINANCIAL CONSULTANCY PRIVATE LIMITED,NAGPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL) NAGPUR, NAGPUR

In the result, assessee’s appeal is allowed

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

Penalty proceedings u/s. 271(1)(c) for 27 Gajanand Financial Consultancy Pvt. Ltd. ITA no.126/Nag./2025 concealment of particulars of income, of the Income Tax Act is hereby initiated separately.” vi) There is no quarrel to the proposition that the Assessing Officer had definitely come into an opinion that Tapadia Polyester Pvt. Ltd. has introduced its own unaccounted income

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

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

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

section 56(2)(viib) of the Income Tax Act, 1961, Rs. 32,26,000/- is disallowed and added back to the total income of the assessee under the head 'Income from Other Sources'. Penalty proceedings u/s 271(1)(c) of Income Tax Act, 1961 initiated separately for furnishing inaccurate particulars of income.” 6 Tajshree Autowheels Pvt. Ltd. ITA no.400/Nag./2024

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

In the result, appeal filed by the assessee for A

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

20-9-2010 C to give more and more clarity on 80P deduction. Therefore, the assessee is assessed as status of AOP. From aforesaid discussion it is held that assessee is not entitled for deduction u/s 80P (1) of I.T. Act and claiming disallowed and added back to the total income. Penalty notice u/s 271(1) (c) is being issued

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

In the result, appeal filed by the assessee for A

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

20-9-2010 C to give more and more clarity on 80P deduction. Therefore, the assessee is assessed as status of AOP. From aforesaid discussion it is held that assessee is not entitled for deduction u/s 80P (1) of I.T. Act and claiming disallowed and added back to the total income. Penalty notice u/s 271(1) (c) is being issued

SHRI SANJAY DHANRAJ JAIN,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), NAGPUR

In the result, assessee' appeal for A

10 lakhs. Subsequently there is note that Rs. 20 lakhs received on 24. The same can be seen as payment from the account of Omega Industries on 24th. Similarly. Rs. 20 lakhs is mentioned as received in Chattisgarh. The same is duly found paid from the Bank Account of Omega Industries, Chattisgar Below these notifications is again the reconciliation

SHRIKANT BHERULAL SHARMA LATE BHERULAL GIRDHARILAL SHARMA,WASHIM vs. INCOME TAX OFFICER WARD -3 , AKOLA

In the result, assessee’s appeal being ITA no

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

u/s. 143(3) and ordered the reassessment of the said issue. However he added one more issue (which was not a part of limited scrutiny) viz. A.O. to examine cash balance of Rs.23,87,017/- and bank balance of Rs. 19,22,485/- in Akola Janta Coop. Bank Ltd. The Ld. Pr.C.I.T had passed the said order without properly applying

SHRIKANT BHERULAL SHARMA LATE BHERULAL GIRDHARILAL SHARMA ,WASHIM vs. INCOME TAX OFFICER WARD-3, AKOLA

In the result, assessee’s appeal being ITA no

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

u/s. 143(3) and ordered the reassessment of the said issue. However he added one more issue (which was not a part of limited scrutiny) viz. A.O. to examine cash balance of Rs.23,87,017/- and bank balance of Rs. 19,22,485/- in Akola Janta Coop. Bank Ltd. The Ld. Pr.C.I.T had passed the said order without properly applying

SATISH KUMAR MADANLAL GUPTA,GONDIA vs. INCOME TAX OFFICER WARD -1, GONDIA

In the result, appeal filed by the assessee for the ay 2009–10 stands dismissed

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

penalty u/s 271(1)(b) be orders to be waived.” 4. Brief facts:– The assessee is an individual. For the year under consideration, the assessee had not filed his return of income. During the relevant assessment year, as per AIR information, the assessee was found to have deposited cash of ` 5,28,35,502 in his bank account with Bank

SATISH KUMAR MADANLAL GUPTA,GONDIA vs. INCOME TAX OFFICER WARD -1, GONDIA

In the result, appeal filed by the assessee for the ay 2009–10 stands dismissed

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

penalty u/s 271(1)(b) be orders to be waived.” 4. Brief facts:– The assessee is an individual. For the year under consideration, the assessee had not filed his return of income. During the relevant assessment year, as per AIR information, the assessee was found to have deposited cash of ` 5,28,35,502 in his bank account with Bank

SATISH KUMAR MADANLAL GUPTA,GONDIA vs. INCOME TAX OFFICER WARD -1, GONDIA

In the result, appeal filed by the assessee for the ay 2009–10 stands dismissed

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

penalty u/s 271(1)(b) be orders to be waived.” 4. Brief facts:– The assessee is an individual. For the year under consideration, the assessee had not filed his return of income. During the relevant assessment year, as per AIR information, the assessee was found to have deposited cash of ` 5,28,35,502 in his bank account with Bank