M/S MAHESHWARI COAL BENEFICATION & INFRASTRUCTURE P. LTD,BILASPUR vs. DCIT CENTRAL CIRCLE-1(1), NAGPUR

In the result, appeals for the assessment year 2009–10 to 2013–14 are partly allowed

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

section 153A(1) read with „Expln-2‟; in absence of this, assessment made u/s153C would be invalid & is liable to be quashed; relied on Goldstone Cements Ltd (2023) (Gau HC); Fortune Vanijya (P) Ltd (2023) (Gau HC).” 40. In the appeal of the assessee bearing ITA No.111/Nag/ 2024, for the assessment year 2012-13 along with following additional ground

M/S MAHESHWARI COAL BENEFICATION& INFRASTRUCTURE P. LTD,BILASPUR vs. DCIT CENTRAL CIRCLE-1(1), NAGPUR

In the result, appeals for the assessment year 2009–10 to 2013–14 are partly allowed

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

section 153A(1) read with „Expln-2‟; in absence of this, assessment made u/s153C would be invalid & is liable to be quashed; relied on Goldstone Cements Ltd (2023) (Gau HC); Fortune Vanijya (P) Ltd (2023) (Gau HC).” 40. In the appeal of the assessee bearing ITA No.111/Nag/ 2024, for the assessment year 2012-13 along with following additional ground

M/S MAHESHWARI COAL BENEFICATION& INFRASTRUCTURE P. LTD,BILASPUR vs. DCIT CENTRAL CIRCLE-1(1), NAGPUR

In the result, appeals for the assessment year 2009–10 to 2013–14 are partly allowed

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

section 153A(1) read with „Expln-2‟; in absence of this, assessment made u/s153C would be invalid & is liable to be quashed; relied on Goldstone Cements Ltd (2023) (Gau HC); Fortune Vanijya (P) Ltd (2023) (Gau HC).” 40. In the appeal of the assessee bearing ITA No.111/Nag/ 2024, for the assessment year 2012-13 along with following additional ground

M/S MAHESHWARI COAL BENEFICATION& INFRASTRUCTURE P. LTD,BILASPUR vs. DCIT CENTRAL CIRCLE-1(1), NAGPUR

In the result, appeals for the assessment year 2009–10 to 2013–14 are partly allowed

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

section 153A(1) read with „Expln-2‟; in absence of this, assessment made u/s153C would be invalid & is liable to be quashed; relied on Goldstone Cements Ltd (2023) (Gau HC); Fortune Vanijya (P) Ltd (2023) (Gau HC).” 40. In the appeal of the assessee bearing ITA No.111/Nag/ 2024, for the assessment year 2012-13 along with following additional ground

CHANDRAKUMAR MADHUSUDANJI JAJODIA,THANE vs. ASSISTANT COMMISSIONER OF INCOME TAX, AMRAVATI CIRCLE

In the result, appeal filed by the assessee is allowed

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

reassessment is general in nature and is not on specific transaction of assessee. Evidence placed on record is not found to be incorrect or false. Conclusion of escapement of income tantamount to mere change of opinion. Belief of escapement of income could not be derived on the basis of report of Investigation Wing being not specific to transaction of loan

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 68 of the Act. For such arguments, the learned A.R. relied on the following case laws:–  CIT v/s Usha Stud Agricultural Farms Ltd. (2008) 183 taxmann.com 277 (Del.); and  Ravindra Arunachala Nadar v/s ACIT (2021) 129 taxmann.com 275 (Chen-Trib). 18. Further, it is submitted that similarly, addition of ` 3,99,600 on account of interest on such unsecured

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 68 of the Act. For such arguments, the learned A.R. relied on the following case laws:–  CIT v/s Usha Stud Agricultural Farms Ltd. (2008) 183 taxmann.com 277 (Del.); and  Ravindra Arunachala Nadar v/s ACIT (2021) 129 taxmann.com 275 (Chen-Trib). 18. Further, it is submitted that similarly, addition of ` 3,99,600 on account of interest on such unsecured

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 68 of the Act. For such arguments, the learned A.R. relied on the following case laws:–  CIT v/s Usha Stud Agricultural Farms Ltd. (2008) 183 taxmann.com 277 (Del.); and  Ravindra Arunachala Nadar v/s ACIT (2021) 129 taxmann.com 275 (Chen-Trib). 18. Further, it is submitted that similarly, addition of ` 3,99,600 on account of interest on such unsecured

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 68 of the Act. For such arguments, the learned A.R. relied on the following case laws:–  CIT v/s Usha Stud Agricultural Farms Ltd. (2008) 183 taxmann.com 277 (Del.); and  Ravindra Arunachala Nadar v/s ACIT (2021) 129 taxmann.com 275 (Chen-Trib). 18. Further, it is submitted that similarly, addition of ` 3,99,600 on account of interest on such unsecured

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 68 of the Act. For such arguments, the learned A.R. relied on the following case laws:–  CIT v/s Usha Stud Agricultural Farms Ltd. (2008) 183 taxmann.com 277 (Del.); and  Ravindra Arunachala Nadar v/s ACIT (2021) 129 taxmann.com 275 (Chen-Trib). 18. Further, it is submitted that similarly, addition of ` 3,99,600 on account of interest on such unsecured

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 68 of the Act. For such arguments, the learned A.R. relied on the following case laws:–  CIT v/s Usha Stud Agricultural Farms Ltd. (2008) 183 taxmann.com 277 (Del.); and  Ravindra Arunachala Nadar v/s ACIT (2021) 129 taxmann.com 275 (Chen-Trib). 18. Further, it is submitted that similarly, addition of ` 3,99,600 on account of interest on such unsecured

DY COMMISSIONER OF INOCME TAX , CIRCLE -2, NAGPUR vs. M/S N KUMAR CONSTRUCTION CO .PVT.LTD , NAGPUR

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

129 to 135 & 395 To 398 of paper book. 3. With respect to Prabhav Industries Limited, the assessee submits the following : i. The Prabhav Industries Limited is assessed to tax vide PAN – AAACE4247Q. The assessee encloses herewith the copy of PAN card of Prabhav Industries Limited, which is on Page-136 of the Paper Book. The 8 M/s. N. Kumar