LATITUDE INFRAVENTURES,NAGPUR vs. PCIT,NAGPUR-1, NAGPUR

In the result, appeal filed by the assessee for assessment year 2017–18

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

91 of legal paperbook)." 7. The learned Departmental Representative supported the impugned order passed under section 263 of the Act by the learned Commissioner. On legal grounds, he submitted that the order of the Hon’ble Jurisdictional High Court in Jet Airways Ltd. (supra) has been challenged before the Hon’ble Supreme Court along with connected matters and the same

M/S SPACEWOOD FURNISHERS PVT. LTD.,,NAGPUR vs. D.C.I.T. CENTRALCIRCLE 1(3), NAGPUR

In the result, the appeal of the assessee is partly allowed

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year : 2010-11 M/S. Spacewood Furnishers Pvt. Ltd. Vs. The Dcit T-48, Midc, Hinga, Central Circle 1(3) Nagpur Nagpur Pan No.: Aaccs 4955 R Appellant Respondent

91,97,660/- as against returned income of Rs.3,39,26,940/- by making two additions viz. (i) Rs.8,62,294/- as unexplained money found during search and (ii) Rs.44,08,422/- as excess stock as discussed in para 11 of the assessment order. It is this assessment order for A.Y.2010-11 made u/s.143(3) by order dt.10.07.2015 that is challenged

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

91,140/- for AY 2011-12 and Rs 1,12,27,727/- for AY 2012-13. Aggrieved with the said decision the assessee filed an appeal before the Ld. CIT(A). 4. During the proceedings before the first appellate authority, the Ld. counsel for the assessee contended that only survey action u/s 133A was carried out at the aforesaid business

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

reassess total income of such other person of such AY in the manner provided in section 153A. (3) Nothing contained in this sec shall apply in relation to a search initiated u/s132 or books of account, other documents or any assets requisitioned u/s132A on or after the 1-4-21.” 7 Maheshwari Coal Benefication & Infrastructure

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

reassess total income of such other person of such AY in the manner provided in section 153A. (3) Nothing contained in this sec shall apply in relation to a search initiated u/s132 or books of account, other documents or any assets requisitioned u/s132A on or after the 1-4-21.” 7 Maheshwari Coal Benefication & Infrastructure

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

reassess total income of such other person of such AY in the manner provided in section 153A. (3) Nothing contained in this sec shall apply in relation to a search initiated u/s132 or books of account, other documents or any assets requisitioned u/s132A on or after the 1-4-21.” 7 Maheshwari Coal Benefication & Infrastructure

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

reassess total income of such other person of such AY in the manner provided in section 153A. (3) Nothing contained in this sec shall apply in relation to a search initiated u/s132 or books of account, other documents or any assets requisitioned u/s132A on or after the 1-4-21.” 7 Maheshwari Coal Benefication & Infrastructure

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

reassess total income of such other person of such AY in the manner provided in section 153A. (3) Nothing contained in this sec shall apply in relation to a search initiated u/s132 or books of account, other documents or any assets requisitioned u/s132A on or after the 1-4-21.” 7 Maheshwari Coal Benefication & Infrastructure

DY. COMMISSIONER OF INCOME TAX, CIRCLE-3, NAGPUR, NAGPUR vs. VINODKUMAR RAJENDRALAL KOCHHAR, KAMPTEE

In the result, the appeal filed by the department is dismissed

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

91,330 2014-15 18,57,710/- 2015-16 22,02,640/- In view of the above facts, closing capital of Rs 2,56,10,453/- stands duly explained as also held in assessment order dated 25/08/2018 u/s 143(3) of the Act. Since the appellant had furnished the requisite details before the Faceless Assessing Officer (FAO) during the case

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

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

91,188, on which interest amounting to ` 9,98,869, has been paid. The said interest paid were the interest on vehicle loan and LIC loans and rightly allowable expenses under the Act. The said interest paid has no relation to investment made in shares. The Assessing Officer did not accept the contention of the assessee and made disallowance under

BAJAJ EXPORTS PVT. LTD.,NAGPUR vs. THE DY. CIT, CENTRAL CIRCLE, 2(3), NAGPUR

In the result, the appeal of the assessee is partly allowed for statistical purposes

91,935/– and out of other expenditure Rs.77,146/– (total Rs.18,69,081/–) holding that the assessee has incurred expenditure to this extent for earning exempted (dividend). On the facts and circumstances of the case the disallowance made by invoking Section 14A of the Income Tax Act is unjustified and unreasonable. (3) That the learned Assessing Officer erred

ASSTT. C.I.T, CENTRAL CIR, -2(1), NAGPUR vs. M/S GUPTA INTERNATIONAL INDUSTRIES LTD., NAGPUR

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm Sl.

91,50,000/- 40 different bogus entities. The assessment order mentions few such names at para 7.14, viz., Dogma Exim, Advent Commercial, Harmit Garments, Alto Vision Pvt. Ltd, Champion Traders which are proved to be paper companies from the seized documents. 503/Nag/2014 2008-09 Undisclosed The addition is made on account of bogus Income unsecured loans reflected in the balance

ASSTT. C.I.T, CENTRAL CIR, -2(1), NAGPUR vs. M/S GUPTA INTERNATIONAL INDUSTRIES LTD., NAGPUR

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm Sl.

91,50,000/- 40 different bogus entities. The assessment order mentions few such names at para 7.14, viz., Dogma Exim, Advent Commercial, Harmit Garments, Alto Vision Pvt. Ltd, Champion Traders which are proved to be paper companies from the seized documents. 503/Nag/2014 2008-09 Undisclosed The addition is made on account of bogus Income unsecured loans reflected in the balance