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

In the result, assessee' appeal for A

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

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

260A. 8. Next, we find that, the assessment has been framed u/s153A, consequent to the search action. The scope and ambit of sec153A is well defined. Kabul Chawla (2015) (Del HC), concerning the scope of assessment u/s153A, has laid out and summarized the legal position after taking into account the earlier decisions of this Court as well as the decisions

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

260A. 8. Next, we find that, the assessment has been framed u/s153A, consequent to the search action. The scope and ambit of sec153A is well defined. Kabul Chawla (2015) (Del HC), concerning the scope of assessment u/s153A, has laid out and summarized the legal position after taking into account the earlier decisions of this Court as well as the decisions

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

260A. 8. Next, we find that, the assessment has been framed u/s153A, consequent to the search action. The scope and ambit of sec153A is well defined. Kabul Chawla (2015) (Del HC), concerning the scope of assessment u/s153A, has laid out and summarized the legal position after taking into account the earlier decisions of this Court as well as the decisions

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

260A. 8. Next, we find that, the assessment has been framed u/s153A, consequent to the search action. The scope and ambit of sec153A is well defined. Kabul Chawla (2015) (Del HC), concerning the scope of assessment u/s153A, has laid out and summarized the legal position after taking into account the earlier decisions of this Court as well as the decisions

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

260A. 8. Next, we find that, the assessment has been framed u/s153A, consequent to the search action. The scope and ambit of sec153A is well defined. Kabul Chawla (2015) (Del HC), concerning the scope of assessment u/s153A, has laid out and summarized the legal position after taking into account the earlier decisions of this Court as well as the decisions

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

260A. 8. Next, we find that, the assessment has been framed u/s153A, consequent to the search action. The scope and ambit of sec153A is well defined. Kabul Chawla (2015) (Del HC), concerning the scope of assessment u/s153A, has laid out and summarized the legal position after taking into account the earlier decisions of this Court as well as the decisions

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

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