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

27,468. Penalty proceedings under section 271(1)(c) of the Act levying penalty of ` 1,30,99,807, on account of loss on sale of fixed assets worth ` 4,02,50,000, and the demand was raised. 4. On appeal, the learned CIT(A) deleted the penalty imposed of ` 1,30,99,807, under section 271

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

27 (Madras High Court) "Tribunal having found that there was business exigency forcing the assessee to take cash loans, the genuineness of creditors and transactions were never doubted by the department and there was no revenue loss to the state exchequer, the assessee has shown reasonable cause"; 3) Commissioner of Income Tax Vs. Ratna Agencies (2006) 284 ITR 0609 (Madras

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

BAJAJ STEEL INDUSTRIES LTD.,NAGPUR vs. DIRECTOR OF INCOME TAX, NAGPUR

In the result, appeal of the assessee is allowed for statistical purpose

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकरअपीलसं. / Ita No.56/Nag/2023 िनधा"रणवष" / Assessment Year :2018-19 Bajaj Steel Industries Ltd., The Director Of Income C-108, Hingna Road, Midc V Tax, Industrial Area, Hingna, S Intelligence & Criminal Investigation, 3Rd Floor, Nagpur – 440028. Pan: Aaacb5340H Room No.301, Aayakar Bhawan, Civil Lines, Nagpur – 440001. Appellant/ Assessee Respondent/Revenue Assessee By Shri Rajesh Loya – Ca-Ar Revenue By Shri Abhay Y. Marathe – Sr.Dr Date Of Hearing 27/03/2024 Date Of Pronouncement 10/04/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld.Commissioner Of Income Tax(Appeals) Passed U/S250 Of The Income Tax Act, 1961 Emanating From The Penalty Order Under Section 271Fa Of The Act Dated 27.09.2019 Passed By Director Of Income Tax(Intelligence & Bajaj Steel Industries Ltd., [A]

27 I FA of the Income Tax Act, 1961 is not acceptable because the total receipts as shown in SFT reporting is Rs.7.74 lakhs, but individual transaction value or cash receipts does not exceed Rs. 2.00 lakhs or more at any point of time or in a single day, during the year under reporting and hence section

ACIT ,CIRCLE (EXEMPTION ),NAGPUR , NAGPUR vs. M/S SIPNA SHIKSHAN PRASARAK MANDAL ,AMRAVAI , AMRAVATI

In the result, the appeal filed by the Department is dismissed

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year: 2013-14 The Acit, Vs. M/S. Sipnashikshan Prasarak Mandal Circle (Exemption), Badnera Road Amravati Amravati Pan No.:Aacts 1266 J Appellant Respondent Revenue By :Shripiyushkolhe (Cit-Dr) Assessee By: Shrihimeshdemble (Ca) Date Of Hearing: 26/04/2022 Date Of Pronouncement: 28/06/2022 Order Per: Sandeep Gosain, J.M. This Appeal Has Been Filed By The Department Against The Order Of The Ld. Cit (A)-4, Nagpur Dated 27/03/2017 Passed U/S 143(3) Of The Income Tax Act, 1961 For The A.Y. 2013-14 Wherein The Department Has Raised The Following Grounds Of Appeal.

section 115BBC by treating the donations in corpus fund as anonymous donations. 16. The AO is directed to charge interest u/s. 234B as per law. The ground pertaining to initiation of penalty u/s. 271(1)(C) being premature is not being adjudicated. 17. As a result, the appeal filed by the appellant is allowed.’’ 2.3 During the course of hearing

DY. C.I.T. CENTRAL CIR.-1(3), NAGPUR vs. M/S GIGEO CONSTRUCTION CO.PVT. LTD, NAGPUR

In the result, appeal filed by the assessee for the A

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

27, whereby, as per order passed by the NCLT, pending proceedings before the Tribunal has been prohibited. The relevant part of the order dated 04/06/2024, passed by the NCLT is reproduced below:– “ORDER This application bearing C.P. (IB) No. 1180/MB/2022 filed under Section 7 of the Code by the Financial Creditor for initiating Corporate Insolvency Resolution Process (CIRP) in respect

GIGEO CONSTRUCTION CO. PVT. LTD.,,NAGPUR vs. ACIT, CENTRAL CIRCLE- 1(3),, NAGPUR

In the result, appeal filed by the assessee for the A

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

27, whereby, as per order passed by the NCLT, pending proceedings before the Tribunal has been prohibited. The relevant part of the order dated 04/06/2024, passed by the NCLT is reproduced below:– “ORDER This application bearing C.P. (IB) No. 1180/MB/2022 filed under Section 7 of the Code by the Financial Creditor for initiating Corporate Insolvency Resolution Process (CIRP) in respect

DY. C.I.T. CENTRAL CIR.-1(3), NAGPUR vs. M/S GIGEO CONSTRUCTION CO.PVT. LTD, NAGPUR

In the result, appeal filed by the assessee for the A

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

27, whereby, as per order passed by the NCLT, pending proceedings before the Tribunal has been prohibited. The relevant part of the order dated 04/06/2024, passed by the NCLT is reproduced below:– “ORDER This application bearing C.P. (IB) No. 1180/MB/2022 filed under Section 7 of the Code by the Financial Creditor for initiating Corporate Insolvency Resolution Process (CIRP) in respect

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

27 Shri Sanjay Dhanraj Jain ITA no.53, to 59/Nag./2024 accounts without reference to any search material is not sustainable u/s 153A. We rely on the judgement of ITAT Mumbai in the case of Dinesh Salecha Vs. DCIT in ITA No. 5165, 5166, 5167/Mum./2018 dated 1-1-2021 (5) We have to respectfully object to the observations and would

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

27, the Supreme Court held at page 51 that income can be said to accrue or arise when there is a right to receive the same. At page 52, the Supreme Court held: “……. A debt must have come into existence and he must have acquired a right to receive the payment. Unless and until his contribution or parenthood is effective

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

27, the Supreme Court held at page 51 that income can be said to accrue or arise when there is a right to receive the same. At page 52, the Supreme Court held: “……. A debt must have come into existence and he must have acquired a right to receive the payment. Unless and until his contribution or parenthood is effective

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

27. Before us, the learned Counsel for the assessee drew our attention to the submission made in the assessment proceedings as well as before the learned CIT(A) during first appellate proceeding. The relevant Page-13 to 17 of the impugned order passed by the learned CIT(A) is felt necessary to reproduce herein below:- "That the learned AO erred

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

27. Before us, the learned Counsel for the assessee drew our attention to the submission made in the assessment proceedings as well as before the learned CIT(A) during first appellate proceeding. The relevant Page-13 to 17 of the impugned order passed by the learned CIT(A) is felt necessary to reproduce herein below:- "That the learned AO erred

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

27. Before us, the learned Counsel for the assessee drew our attention to the submission made in the assessment proceedings as well as before the learned CIT(A) during first appellate proceeding. The relevant Page-13 to 17 of the impugned order passed by the learned CIT(A) is felt necessary to reproduce herein below:- "That the learned AO erred

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

27. Before us, the learned Counsel for the assessee drew our attention to the submission made in the assessment proceedings as well as before the learned CIT(A) during first appellate proceeding. The relevant Page-13 to 17 of the impugned order passed by the learned CIT(A) is felt necessary to reproduce herein below:- "That the learned AO erred

SHRI. ABDULLABHAI HASANALI,,NAGPUR vs. COMMISSIONER OF INCOME-TAX,-II, NAGPUR

In the result, all the appeals of assessee are allowed as indicated above

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

penalty u/s. 271(1) (c). (7) That for any other ground with kind permission of Hon'ble members at the time of hearing of appeal. 3. From the above it is evident the core issue relates to the correctness of allowing by Assessing Officer the assessee’s claim of set off of brought forwarded long term capital loss relating

ABDULLABHAI HASANALI THROUGH L/H ZOHRABAI,NAGPUR vs. A.C.I.T. CIR-3,, NAGPUR

In the result, all the appeals of assessee are allowed as indicated above

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

penalty u/s. 271(1) (c). (7) That for any other ground with kind permission of Hon'ble members at the time of hearing of appeal. 3. From the above it is evident the core issue relates to the correctness of allowing by Assessing Officer the assessee’s claim of set off of brought forwarded long term capital loss relating

ABDULLABHAI HASANALI THROUGH L/H ZOHRABAI,NAGPUR vs. A.C.I.T. CIR-3,, NAGPUR

In the result, all the appeals of assessee are allowed as indicated above

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

penalty u/s. 271(1) (c). (7) That for any other ground with kind permission of Hon'ble members at the time of hearing of appeal. 3. From the above it is evident the core issue relates to the correctness of allowing by Assessing Officer the assessee’s claim of set off of brought forwarded long term capital loss relating