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

271(1)(c) of the Act, is in appeal before the Tribunal. 8. We have heard the rival arguments, perused the material available on record and gone through the orders of the authorities below. We find that the claim made by the assessee is in accordance with the provisions of section 36(1)(viia) of the Act and the allowability

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

271(1)(c) of the Act, is in appeal before the Tribunal. 8. We have heard the rival arguments, perused the material available on record and gone through the orders of the authorities below. We find that the claim made by the assessee is in accordance with the provisions of section 36(1)(viia) of the Act and the allowability

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

u/s 271(1) (c) is being issued separately. 6. Sections 22 and 32 of the Regional Rural Banks Act, 1976 provides as under:- 22. Regional Rural Bank to be deemed to be a cooperative society for purpose of the Income-tax Act, 1961.- For the purpose of the Income- tax Act, 1961 (43 of 1961), or any other enactment

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

u/s 271(1) (c) is being issued separately. 6. Sections 22 and 32 of the Regional Rural Banks Act, 1976 provides as under:- 22. Regional Rural Bank to be deemed to be a cooperative society for purpose of the Income-tax Act, 1961.- For the purpose of the Income- tax Act, 1961 (43 of 1961), or any other enactment

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

9. Subject to the above, the assessment is finalised as under: Returned income u/s. 139 : Rs.4,36,460/- Assessed income u/s. 143(3) : Rs.4,61,460/- Returned income u/s. 148 : Rs.4,61,460/- Add: Unexplained cash credit : Rs. 14,10,00,000/- (discussed above in Para no. 4) Add: Unexplained cash credit : Rs. 5,57,10,000/- (discussed above

BHAVESH SURESH SEJPAL,AKOT vs. ITO WARD-3, AKOLA

In the result, appeal by the assessee stands allowed

Bench: Shri V. Durgarao & Shrik.M. Roy, Accountant, Member

penalty proceedings u/s. 271(1)(c) of the IT Act for under-reporting is initiated separately.” Consequent upon the issuance of the assessment order passed under section 56(2)(vii)(b) of the Act, the assessee filed appeal before the first appellate authority. 5. The learned CIT(A) dismissed the appeal of the assessee by holding as under

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

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

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 6. Consequent upon the assessment order so passed by the Assessing Officer, the assessee being aggrieved carried the matter before the first appellate authority. 7. Before the learned CIT(A), the assessee furnished

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

vii) Alchemist Asset Reconstruction Co. Ltd. v/s Hotel Gaudavan Pvt. Ltd. & Ors., Civil Appeal no.16929 of 2017, judgment dated 23/10/2017 (Arising out of SLP (C) no.18195 OF 2017 (SC); viii) ACIT v/s Amrit Feeds Ltd., ITA no.2307/Kol./2016, etc., order dated 28/02/2023; ix) Pratibha Industries Ltd. v/s DCIT, [2022] TaxPub (DT) 6520 (Mum– Trib.); and x) DCIT v/s Global Softech

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

vii) Alchemist Asset Reconstruction Co. Ltd. v/s Hotel Gaudavan Pvt. Ltd. & Ors., Civil Appeal no.16929 of 2017, judgment dated 23/10/2017 (Arising out of SLP (C) no.18195 OF 2017 (SC); viii) ACIT v/s Amrit Feeds Ltd., ITA no.2307/Kol./2016, etc., order dated 28/02/2023; ix) Pratibha Industries Ltd. v/s DCIT, [2022] TaxPub (DT) 6520 (Mum– Trib.); and x) DCIT v/s Global Softech

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

vii) Alchemist Asset Reconstruction Co. Ltd. v/s Hotel Gaudavan Pvt. Ltd. & Ors., Civil Appeal no.16929 of 2017, judgment dated 23/10/2017 (Arising out of SLP (C) no.18195 OF 2017 (SC); viii) ACIT v/s Amrit Feeds Ltd., ITA no.2307/Kol./2016, etc., order dated 28/02/2023; ix) Pratibha Industries Ltd. v/s DCIT, [2022] TaxPub (DT) 6520 (Mum– Trib.); and x) DCIT v/s Global Softech

DEPUTY COMMISSIONER OF INCOME TAX , CIRCLE-2, NAGPUR vs. M/S UNITED BUILDERS , BHANDARA

In the result, appeal filed by the Revenue is allowed

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

Penalty proceeding under section 271(1)(c) of the Act was initiated separately. The assessee being aggrieved, carried the matter before the learned CIT(A). 7. The learned CIT(A), in view of the submissions made by the assessee, held that the action of the Assessing Officer in making the impugned addition is not found to be sustainable