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

In the result, assessee' appeal for A

260A, the Hon'ble High\nCourt observed that when full particulars, inclusive of the confirmation with\nname, address, PAN, IT returns, Balance Sheet &Profit &Loss account in\nrespect of all the lenders were furnished and that it has been found that the\nloans were received through cheques, then the Assessing Officer was not\njustified in making addition under section

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

260A, the Hon'ble High\nCourt observed that when full particulars, inclusive of the confirmation with\nname, address, PAN, IT returns, Balance Sheet &Profit &Loss account in\nrespect of all the lenders were furnished and that it has been found that the\nloans were received through cheques, then the Assessing Officer was not\njustified in making addition under section

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

260A, the Hon'ble High\nCourt observed that when full particulars, inclusive of the confirmation with\nname, address, PAN, IT returns, Balance Sheet &Profit &Loss account in\nrespect of all the lenders were furnished and that it has been found that the\nloans were received through cheques, then the Assessing Officer was not\njustified in making addition under section

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

260A, the Hon'ble High\nCourt observed that when full particulars, inclusive of the confirmation with\nname, address, PAN, IT returns, Balance Sheet &Profit &Loss account in\nrespect of all the lenders were furnished and that it has been found that the\nloans were received through cheques, then the Assessing Officer was not\njustified in making addition under section

ASHOKKUMAR GOKULCHAND SANANDA,BULDHANA vs. ASSISTANT COMMISIONER OF INCOME TAX AKOLA CIRCLE, AKOLA

In the result, appeal filed by the assessee is partly allowed

Bench: Shri Pawan Singh & Shri Khettra Mohan Royashokkumar Gokulchand Acit, Akola Circle, Akola Sananda, Rana Traders, Vs Gandhi Chowk, Khamgaon, Dist. Buldhan, Khamgaon Pan : Adpps 755I L Assessee Respondent Assessee By : Shri K.P. Dewani, Adv Revenue By : Shri Surjit Kumar Saha, Sr. Dr Date Of Hearing : 20.02.2026 Date Of Pronouncement : 06.04.2026

Reassessment was framed without providing reasons recorded along with notice u/s. 148, which is not in accordance with law. He submitted ground-wise gist and reliance have been placed which are as follows:- 1. Ground No.6 to 8: Addition made by A.O. by disallowance of deduction u/s 35(1)(ii) of I.T. Act 1961 at Rs.17

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

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 u/s132 or requisition u/s132A. However, the completed/ unabated assessments can be re-opened by the AO in exercise

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

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 u/s132 or requisition u/s132A. However, the completed/ unabated assessments can be re-opened by the AO in exercise

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

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 u/s132 or requisition u/s132A. However, the completed/ unabated assessments can be re-opened by the AO in exercise

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

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 u/s132 or requisition u/s132A. However, the completed/ unabated assessments can be re-opened by the AO in exercise

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

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 u/s132 or requisition u/s132A. However, the completed/ unabated assessments can be re-opened by the AO in exercise

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

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 u/s132 or requisition u/s132A. However, the completed/ unabated assessments can be re-opened by the AO in exercise

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