ASSTT.COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(1), NAGPUR vs. M/S RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, In respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under Section 132 or requisition under Section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), NAGPUR vs. M/S. RADHA MADHAV DEVELOPER , NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, In respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under Section 132 or requisition under Section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened

ASSTT.COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(1), NAGPUR vs. M/S RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, In respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under Section 132 or requisition under Section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1),NAGPUR, NAGPUR vs. M/S. RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, In respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under Section 132 or requisition under Section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened

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

In the result, assessee' appeal for A

131 of the Act was issued by the Investigation Wing to explain the nature of transaction in the impounded document to which the assessee explained that the impugned Excel Sheet pertains to M/s. Base Corporation Ltd. (BCL) for whom M/s. SNJ Associates, were Internal Auditor. It is further noted by the Assessing Officer that the assessee did not provide details

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

131 of\nthe Act was issued by the Investigation Wing to explain the nature of\ntransaction in the impounded document to which the assessee explained that\nthe impugned Excel Sheet pertains to M/s. Base Corporation Ltd. (BCL) for\nwhom M/s. SNJ Associates, were Internal Auditor. It is further noted by the\nAssessing Officer that the assessee did not provide details

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

In the result, assessee' appeal for A

section 69.\nFurther, we may point out that section 68 under which the addition has\nbeen made by the Assessing Officer reads as under:\n\"68. Where any sum is found credited in the books of an assessee\nmaintained for any previous year. and the assessee offers no\nexplanation about the nature and source thereof or the explanation\noffered

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

section 69.\nFurther, we may point out that section 68 under which the addition has\nbeen made by the Assessing Officer reads as under:\n\"68. Where any sum is found credited in the books of an assessee\nmaintained for any previous year. and the assessee offers no\nexplanation about the nature and source thereof or the explanation\noffered

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

131 of\nthe Act was issued by the Investigation Wing to explain the nature of\ntransaction in the impounded document to which the assessee explained that\nthe impugned Excel Sheet pertains to M/s. Base Corporation Ltd. (BCL) for\nwhom M/s. SNJ Associates, were Internal Auditor. It is further noted by the\nAssessing Officer that the assessee did not provide details

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

In the result, assessee' appeal for A

131 of\nthe Act was issued by the Investigation Wing to explain the nature of\ntransaction in the impounded document to which the assessee explained that\nthe impugned Excel Sheet pertains to M/s. Base Corporation Ltd. (BCL) for\nwhom M/s. SNJ Associates, were Internal Auditor. It is further noted by the\nAssessing Officer that the assessee did not provide details

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

131 of\nthe Act was issued by the Investigation Wing to explain the nature of\ntransaction in the impounded document to which the assessee explained that\nthe impugned Excel Sheet pertains to M/s. Base Corporation Ltd. (BCL) for\nwhom M/s. SNJ Associates, were Internal Auditor. It is further noted by the\nAssessing Officer that the assessee did not provide details

M/S NEW VIRAJ HOUSING AGENCY,NAGPUR vs. ACIT, CENTRAL CIRCLE-1(1), NAGPUR

In the result, the appeals filed by the assessee for all the three years is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am

131 of this Act,or a notice under sub-section (4) of section 22 of the Indian Income-tax Act, 1922, orunder sub-section (1) of section 142 of this Act was issued to produce, or cause to beproduced, any books of account or other documents has omitted or failed to produce, orcause to be produced, such books of account

ACIT-CENTRAL CIRCLE -2(1), NAGPUR vs. SHRI NANDKUMAR KHATTUMAL HARCHANDANI , NAGPUR

In the result, appeal of the Revenue stands dismissed

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

reassessment proceedings-Neither the reasons in the initial notice nor the communication providing reasons remotely indicate independent application of mind by AO-Notice under S. 148 quashed. 7. (1980) 125 ITR 713 (Supreme Court of India) 12 Shri Nandkumar Khatumal Harchandani ITA no.410/Nag./2019 A.Y. 2014–15 KishinchandChellaram –Vs.- Commissioner of Income Tax Income from undisclosed sources-Chargeability

ACIT-CENTRAL CIRCLE -2(1), NAGPUR vs. SHRI NANDKUMAR KHATTUMAL HARCHANDANI , NAGPUR

reassessment proceedings-Neither the reasons in the initial notice nor the communication providing reasons remotely indicate independent application of mind by AO-Notice under S. 148 quashed.\n7. (1980) 125 ITR 713 (Supreme Court of India) Kishinchand Chellaram –Vs.- Commissioner of Income Tax\nIncome from undisclosed sources-Chargeability-T, an employee of Madras office of assessee making a telegraphic transfer

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

131 to called for cross examine, even though the assessee has submitted the all the details of company during the course of assessment proceedings. The learned assessing officer has failed to grant opportunity being cross examine the directors and has also failed to verify the documents submitted by assessee are genuine or not and made addition on assumption and presumption

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

131 to called for cross examine, even though the appellant has submitted the all the details of company during the course of assessment proceedings. The learned assessing officer has failed to grant opportunity being cross examine the directors and has also failed to verify the documents submitted by appellant are genuine or not and made addition on assumption and presumption

ATUL MANOHARRAO YAMSANWAR,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE 2(1), NAGPUR

reassessment shall be passed by an Assessing Officer below the rank of Joint Commissioner in respect of each assessment year referred..... except with the prior approval of the Joint Commissioner.” 20. The emphasis supplied in the above excerpt of section 153D above, is to highlight the intent of the legislature regarding the necessity of application of mind to the draft

UMESH SADASHIV THAKRE ,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(1), NAGPUR

reassessment shall be passed by an Assessing Officer below the rank of Joint Commissioner in respect of each assessment year referred..... except with the prior approval of the Joint Commissioner.” 20. The emphasis supplied in the above excerpt of section 153D above, is to highlight the intent of the legislature regarding the necessity of application of mind to the draft