DY. C.I.T. CENTRAL CIR.-2(2), NAGPUR vs. M/S SHREE AGRAWAL FINANCE INDIA P. LTD.,, NAGPUR

173, 174 & 175/NAG/2016\nM/s. Shree Agrawal Finance India Pvt., Ltd., &\nITA No.178/NAG/2016\nM/s. Thanjavur Commerce Pvt., Ltd. &\nITA No.294/NAG/2016\nShri Dharampal R. Agrawal &\nITA No.375/NAG/2016\nM/s. Mansa Agro Food Processing Pvt. Ltd.\nfall under any of the exceptions provided in the CBDT Circular referred to\nabove.\n7. In the result, appeals filed by the Revenue are dismissed.\nOrder pronounced

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

173 of the Paper Book. The learned assessing officer has relied on the judgments which were not related to the fact of case of the assessee and addition made U/s. 68 as unexplained cash credit as per plain reading of aforesaid provision of section 68 is not at all applicable in the case of the assessee, when the assessee

DAYAL COTSPIN LIMITED,AKOLA vs. ACIT, AKOLA CIRCLE, AKOLA

In the result, appeal filed by the assessee is allowed

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

section 147 Explanation 2(c) of the Income Tax Act 1961. Apart from the information in respect of companies mentioned in above table, the case records show that the assessee has claimed investment in shares M/s Alpha Graphic India Ld. and ACIL Cotton Industries Ld. from which investment in shares of Rs.50 lacs and Rs.30 lacs respectively which also needs