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

159 ITR 78:- "ITO treated certain cash credits shown to have been received by assessee from outside parties as unproved and added same to income of assessee under section 68 and imposed penalty on it under section 271(1)(c) Tribunal deleted the impugned addition as well as the penalty imposed on the grounds that (i) assessee have given

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

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

159 ITR 78:- "ITO treated certain cash credits shown to have been received by assessee from outside parties as unproved and added same to income of assessee under section 68 and imposed penalty on it under section 271(1)(c) Tribunal deleted the impugned addition as well as the penalty imposed on the grounds that (i) assessee have given

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

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

159 ITR 78:- "ITO treated certain cash credits shown to have been received by assessee from outside parties as unproved and added same to income of assessee under section 68 and imposed penalty on it under section 271(1)(c) Tribunal deleted the impugned addition as well as the penalty imposed on the grounds that (i) assessee have given

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

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

159 ITR 78:- "ITO treated certain cash credits shown to have been received by assessee from outside parties as unproved and added same to income of assessee under section 68 and imposed penalty on it under section 271(1)(c) Tribunal deleted the impugned addition as well as the penalty imposed on the grounds that (i) assessee have given

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

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

159 ITR 78:- "ITO treated certain cash credits shown to have been received by assessee from outside parties as unproved and added same to income of assessee under section 68 and imposed penalty on it under section 271(1)(c) Tribunal deleted the impugned addition as well as the penalty imposed on the grounds that (i) assessee have given

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

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

159 ITR 78:- "ITO treated certain cash credits shown to have been received by assessee from outside parties as unproved and added same to income of assessee under section 68 and imposed penalty on it under section 271(1)(c) Tribunal deleted the impugned addition as well as the penalty imposed on the grounds that (i) assessee have given

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

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

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

Penalty proceedings under section 27(1)(c) of the Income Tax Act, 1961 for concealment of income by furnishing inaccurate particulars of income are hereby initiated.” 4. The appellant filed an appeal before the CIT (A), who has held as follows: “The AO in the assessment order held that on perusal of the return of income, it is seen that

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

159 taxmann.com 1370 (Del-Trib) held as under: “7.1 It is the case of the assessee that additions/ disallowances could not be made in the assessment framed u/s153A de-horse reference to any incriminating material found in the course of search in the hands of the assessee. It is further case of the assessee that any adverse statement

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

159 taxmann.com 1370 (Del-Trib) held as under: “7.1 It is the case of the assessee that additions/ disallowances could not be made in the assessment framed u/s153A de-horse reference to any incriminating material found in the course of search in the hands of the assessee. It is further case of the assessee that any adverse statement

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

159 taxmann.com 1370 (Del-Trib) held as under: “7.1 It is the case of the assessee that additions/ disallowances could not be made in the assessment framed u/s153A de-horse reference to any incriminating material found in the course of search in the hands of the assessee. It is further case of the assessee that any adverse statement

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

159 taxmann.com 1370 (Del-Trib) held as under: “7.1 It is the case of the assessee that additions/ disallowances could not be made in the assessment framed u/s153A de-horse reference to any incriminating material found in the course of search in the hands of the assessee. It is further case of the assessee that any adverse statement

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

159 taxmann.com 1370 (Del-Trib) held as under: “7.1 It is the case of the assessee that additions/ disallowances could not be made in the assessment framed u/s153A de-horse reference to any incriminating material found in the course of search in the hands of the assessee. It is further case of the assessee that any adverse statement

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

159 taxmann.com 1370 (Del-Trib) held as under: “7.1 It is the case of the assessee that additions/ disallowances could not be made in the assessment framed u/s153A de-horse reference to any incriminating material found in the course of search in the hands of the assessee. It is further case of the assessee that any adverse statement