DCIT/ACIT, CIRCLE (EXEMPTION), NAGPUR vs. SANT SHANKAR MAHARAJ AASHRAM, DHAMANGAON AMRAVATI

In the result, Revenue’s appeal stands dismissed

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

271, which included non- compliance issues. Let us discuss the new section along with the Memorandum explaining the clause and also the FM's speech to understand better. 4.3 Penalty for under-reporting and misreporting of income. 270A. (1) The Assessing Officer or the Joint Commissioner (Appeals) or the Commissioner (Appeals) or the Principal Commissioner or Commissioner may, during

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

44,900 shares of Tapadiya Polyester of ` 10 each and also ` 1,32,61,000, in the form of unsecured loan given to the Tapadia Polyester Pvt. Ltd. It is seen that the assessment order is erroneous inasmuch as it is prejudicial to the interests of Revenue for the reason stated by the learned PCIT in his order. Accordingly

M/S. GAJANAN COTSPIN ,BULDHANA vs. INCOME TAX OFFICER, WARD-2, KHAMGAON

In the result, assessee’s appeal stands allowed

Bench: Shri V. Durga Rao

44,26,500 12% 2,64,590 31/03/14 Total 7,62,780 7. From the contents of the above table, the Assessing Officer was of the view that the assessee has utilized interest borrowing fund for non–business purpose and paid interest to the creditors (against unsecured loans) amounting to ` 7,62,780, calculated in the above manner

DY. COMMISSIONER OF INCOME TAX, CENTRAL- CIRCLE-2(1), NAGPUR, NAGPUR vs. SHRI YASHWANT AJABRAO KHODKE, NAGPUR

In the result, Revenue’s appeal stands dismissed

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

section 153C of the Act, declaring the same amount of income of ` 42,17,640, which was declared earlier on 09/02/2015. Further, the Department had also issued several statutory notices requiring the assessee to furnish the information and documents in support of their reply. 5. During the search proceedings at the residential premise of Shri Roshan Dhore, Nagpur, one loose

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

section 153D dated 29/09/2021 is in mechanical/routine manner without application of mind by Addl.CIT, which is merely a formality, an empty ritual and as such it leads to flagrant violation of the rules of law. 45. The third contention of the learned A.R. is that while granting such mechanical approval dated 29/09/2021 under section 153D for the assessment year

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

section 153D dated 29/09/2021 is in mechanical/routine manner without application of mind by Addl.CIT, which is merely a formality, an empty ritual and as such it leads to flagrant violation of the rules of law. 45. The third contention of the learned A.R. is that while granting such mechanical approval dated 29/09/2021 under section 153D for the assessment year

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

section 153D dated 29/09/2021 is in mechanical/routine manner without application of mind by Addl.CIT, which is merely a formality, an empty ritual and as such it leads to flagrant violation of the rules of law. 45. The third contention of the learned A.R. is that while granting such mechanical approval dated 29/09/2021 under section 153D for the assessment year

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

section 153D dated 29/09/2021 is in mechanical/routine manner without application of mind by Addl.CIT, which is merely a formality, an empty ritual and as such it leads to flagrant violation of the rules of law. 45. The third contention of the learned A.R. is that while granting such mechanical approval dated 29/09/2021 under section 153D for the assessment year

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

section 153D dated 29/09/2021 is in mechanical/routine manner without application of mind by Addl.CIT, which is merely a formality, an empty ritual and as such it leads to flagrant violation of the rules of law. 45. The third contention of the learned A.R. is that while granting such mechanical approval dated 29/09/2021 under section 153D for the assessment year

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

section 153D dated 29/09/2021 is in mechanical/routine manner without application of mind by Addl.CIT, which is merely a formality, an empty ritual and as such it leads to flagrant violation of the rules of law. 45. The third contention of the learned A.R. is that while granting such mechanical approval dated 29/09/2021 under section 153D for the assessment year