DEPUTY COMMISSIONER OF INCOME TAX, AMRAVATI & CHANDRAPUR CIRCLE, AMRAVATI vs. CHANDRAPUR DISTRICT 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

penalty u/s 271(1)(c) of I.T. Act 1961. 6.2 The appellant has relied on several judicial decisions to argue its case and these were perused. It is observed that the Hon'ble ITAT Bangalore Bench, Bangalore in case of Syndicate Bank Vs. DCIT reported at 78 ITD 103 has concluded that the deduction u/s 36(1) (viia

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

penalty u/s 271(1)(c) of I.T. Act 1961. 6.2 The appellant has relied on several judicial decisions to argue its case and these were perused. It is observed that the Hon'ble ITAT Bangalore Bench, Bangalore in case of Syndicate Bank Vs. DCIT reported at 78 ITD 103 has concluded that the deduction u/s 36(1) (viia

CHANDRA SURESH KOTHARI,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, NAGPUR

In the result, both these appeals of the assessee are allowed

Bench: Shri Sandeep Gosain, Jm & Shri O.P. Kant, Am

U/s 271(1)(c) of the Act. 7. The ld. AR appearing on behalf of the assessee has reiterated the same arguments as were raised before the ld. CIT(A) and also relied on the written submissions filed before the ld. CIT(A). For the cost of repetition, 3 ITA 125 & 126/NAG/2021_ Chandra Suresh Kothari Vs DCIT there

CHANDRA SURESH KOTHARI,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 2(2), NAGPUR

In the result, both these appeals of the assessee are allowed

Bench: Shri Sandeep Gosain, Jm & Shri O.P. Kant, Am

U/s 271(1)(c) of the Act. 7. The ld. AR appearing on behalf of the assessee has reiterated the same arguments as were raised before the ld. CIT(A) and also relied on the written submissions filed before the ld. CIT(A). For the cost of repetition, 3 ITA 125 & 126/NAG/2021_ Chandra Suresh Kothari Vs DCIT there

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

80,000 01.12.2012 Cash 53. – do – 1,00,000 30.01.2013 Total 85,76,380 Shri Mahesh Shankar Sorate ITA no.250/Nag./2018 5. On a perusal of the above chart, the learned JCIT noted that the assessee repaid the loan by cash exceeding ` 20,000, which is other than by way of Account Payee Cheque or Account Payee Demand Draft hence

NAGESHWARA CHARITABLE TRUST,NAGPUR vs. INCOME TAX OFFICER, WARD-1, EXEMPTION, NAGPUR

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

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

80,000, which was verified from receipt books. In this regard, the Assessing Officer granted opportunity to the assessee to produce the donors for verification and/or submit the confirmation letters with valid identity proof. The result of enquiry made by the Assessing Officer under section 133(6) of the Act was also communicated to the assessee the the reason

NAGESHWARA CHARITABLE TRUST,NAGPUR vs. ITO WD 3, EXEMP, NAGPUR, NAGPUR

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

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

80,000, which was verified from receipt books. In this regard, the Assessing Officer granted opportunity to the assessee to produce the donors for verification and/or submit the confirmation letters with valid identity proof. The result of enquiry made by the Assessing Officer under section 133(6) of the Act was also communicated to the assessee the the reason

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.

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, the ld. DR strongly relied on the order of the AO 2.4 On the other hand, the ld. AR of the assessee relied on the order

SHRI NARENDRA RATANLAL RATHI,NAGPUR vs. ITO, WARD-5(2), NAGPUR

In the result this appeal by the assessee stands allowed for statistical purposes

Bench: Shri Shamim Yahya. (S.M.C.)

penalties u/s 271(1)© and 271(1)(b). 2. In this case the assessee’s source of income is from salary. During the course of assessment Assessing Officer examined the assessee’s source of investment in house and the creditors shown. The Assessing Officer was not convinced with assessee's reply. He made the following additions : “ i) Difference in investment

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

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

In the result, assessee' appeal for A

271(1)(c) Tribunal deleted the impugned addition as well as the penalty imposed on the grounds that (i) assessee have given the names and addresses of the creditors, (ii) it had also produced before ITO letters of confirmation, the discharged hundis and particulars of the different creditors including their general index numbers with the Income-tax Department

PRATHAMIK SHIKSHAK KARMACHARI SAHAKARI PATSANSTHA MARYADIT vs. I.T.O. WARD -2, CHANDRAPUR

In the result, this appeal by the assessee stands allowed

Bench: Shri Shamim Yahya. (S.M.C.)

80-P of Rs.1784272-00 and disallowance of provision. 2. In this case the assessee is a co-operative credit society. In the assessment order the AO denied the benefit of exemption u/s 80P(2)(a)(i) holding that the assessee society was engaged in the business of cooperative 2 ITA No. 524/Nag/2016. banking. While holding so the AO observed

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

271(1)(c)\nTribunal deleted the impugned addition as well as the penalty imposed on the\ngrounds that (i) assessee have given the names and addresses of the creditors,\n(ii) it had also produced before ITO letters of confirmation, the discharged\nhundis and particulars of the different creditors including their general index\nnumbers with the Income-tax Department

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

In the result, assessee' appeal for A

271(1)(c)\nTribunal deleted the impugned addition as well as the penalty imposed on the\ngrounds that (i) assessee have given the names and addresses of the creditors,\n(ii) it had also produced before ITO letters of confirmation, the discharged\nhundis and particulars of the different creditors including their general index\nnumbers with the Income-tax Department

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

271(1)(c)\nTribunal deleted the impugned addition as well as the penalty imposed on the\ngrounds that (i) assessee have given the names and addresses of the creditors,\n(ii) it had also produced before ITO letters of confirmation, the discharged\nhundis and particulars of the different creditors including their general index\nnumbers with the Income-tax Department

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

271(1)(c)\nTribunal deleted the impugned addition as well as the penalty imposed on the\ngrounds that (i) assessee have given the names and addresses of the creditors,\n(ii) it had also produced before ITO letters of confirmation, the discharged\nhundis and particulars of the different creditors including their general index\nnumbers with the Income-tax Department

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

271(1)(c)\nTribunal deleted the impugned addition as well as the penalty imposed on the\ngrounds that (i) assessee have given the names and addresses of the creditors,\n(ii) it had also produced before ITO letters of confirmation, the discharged\nhundis and particulars of the different creditors including their general index\nnumbers with the Income-tax Department

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

In the result, assessee' appeal for A

section 68 of the Income Tax Act,\n1961. Further, the AO did not find the explanation offered by the assessee\nsatisfactory and stated that the assessee has failed to discharge its onus\ntowards explaining the credit of Rs.15,00,000/-. We respectfully object to the\nabove observations and allegations made by the AO as the same are based on\nconjectures