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

55,570/- 2. Section 68 – Rs. 4 crores total – Unsecured loans from (i) Umang Trading (P) Ltd– Rs.1,00,00,000/- (ii) Sunderlal Fiscal Services Pvt. Ltd. Rs. 3,00,00,000 6 140/NAG/2021 2018-19 Department 143(3) Not 1. Sec. 68 – Rs.1.65 CIT(A) Dt.23.4.2021 applicabl Crores Unsecured Order e Regular loan from Anubhav 6.9.2021 Assessme Vinimay

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

55,570/- 2. Section 68 – Rs. 4 crores total – Unsecured loans from (i) Umang Trading (P) Ltd– Rs.1,00,00,000/- (ii) Sunderlal Fiscal Services Pvt. Ltd. Rs. 3,00,00,000 6 140/NAG/2021 2018-19 Department 143(3) Not 1. Sec. 68 – Rs.1.65 CIT(A) Dt.23.4.2021 applicabl Crores Unsecured Order e Regular loan from Anubhav 6.9.2021 Assessme Vinimay

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

55,570/- 2. Section 68 – Rs. 4 crores total – Unsecured loans from (i) Umang Trading (P) Ltd– Rs.1,00,00,000/- (ii) Sunderlal Fiscal Services Pvt. Ltd. Rs. 3,00,00,000 6 140/NAG/2021 2018-19 Department 143(3) Not 1. Sec. 68 – Rs.1.65 CIT(A) Dt.23.4.2021 applicabl Crores Unsecured Order e Regular loan from Anubhav 6.9.2021 Assessme Vinimay

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

55,570/- 2. Section 68 – Rs. 4 crores total – Unsecured loans from (i) Umang Trading (P) Ltd– Rs.1,00,00,000/- (ii) Sunderlal Fiscal Services Pvt. Ltd. Rs. 3,00,00,000 6 140/NAG/2021 2018-19 Department 143(3) Not 1. Sec. 68 – Rs.1.65 CIT(A) Dt.23.4.2021 applicabl Crores Unsecured Order e Regular loan from Anubhav 6.9.2021 Assessme Vinimay

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

55,570/- 2. Section 68 – Rs. 4 crores total – Unsecured loans from (i) Umang Trading (P) Ltd– Rs.1,00,00,000/- (ii) Sunderlal Fiscal Services Pvt. Ltd. Rs. 3,00,00,000 6 140/NAG/2021 2018-19 Department 143(3) Not 1. Sec. 68 – Rs.1.65 CIT(A) Dt.23.4.2021 applicabl Crores Unsecured Order e Regular loan from Anubhav 6.9.2021 Assessme Vinimay

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

55,570/- 2. Section 68 – Rs. 4 crores total – Unsecured loans from (i) Umang Trading (P) Ltd– Rs.1,00,00,000/- (ii) Sunderlal Fiscal Services Pvt. Ltd. Rs. 3,00,00,000 6 140/NAG/2021 2018-19 Department 143(3) Not 1. Sec. 68 – Rs.1.65 CIT(A) Dt.23.4.2021 applicabl Crores Unsecured Order e Regular loan from Anubhav 6.9.2021 Assessme Vinimay

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

147 to 149, 151 and 153. By virtue of the 2017 Amending Act, significant amendments came to be introduced in section 153A. These included, inter alia, the search assessment block being enlarged to 10 AYs consequent to the addition of the stipulation of “relevant AY” and which was defined to mean those years which would fall beyond the 6 year

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

147 to 149, 151 and 153. By virtue of the 2017 Amending Act, significant amendments came to be introduced in section 153A. These included, inter alia, the search assessment block being enlarged to 10 AYs consequent to the addition of the stipulation of “relevant AY” and which was defined to mean those years which would fall beyond the 6 year

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

147 to 149, 151 and 153. By virtue of the 2017 Amending Act, significant amendments came to be introduced in section 153A. These included, inter alia, the search assessment block being enlarged to 10 AYs consequent to the addition of the stipulation of “relevant AY” and which was defined to mean those years which would fall beyond the 6 year

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

147 to 149, 151 and 153. By virtue of the 2017 Amending Act, significant amendments came to be introduced in section 153A. These included, inter alia, the search assessment block being enlarged to 10 AYs consequent to the addition of the stipulation of “relevant AY” and which was defined to mean those years which would fall beyond the 6 year

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

147 to 149, 151 and 153. By virtue of the 2017 Amending Act, significant amendments came to be introduced in section 153A. These included, inter alia, the search assessment block being enlarged to 10 AYs consequent to the addition of the stipulation of “relevant AY” and which was defined to mean those years which would fall beyond the 6 year

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

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 through

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

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

reassessment is bad in law and the addition made in the assessment order is illegal as no incriminating document or unaccounted income was found during the course of search in the case of assessee. We would be submitting further while discussing the individual unds for addition made in the Assessment order. GROUND NO. 2; That the learned AO erred

RADHEY MINERALS LTD,,NAGPUR vs. THE ACIT, CENTRAL-CIRCLE-2(3),, NAGPUR

In the result these appeals filed by the assessee stand allowed

Bench: Shri Shamim Yahya & Shri Ram Lal Negi.. S.No.

55,722/-/-, Rs.36,87,787/- and Rs.44,19,031/- for A.Ys. 2007-08, 2008-09 and 2009-10 respectively from out of financial expenses and the learned CIT(A) was unjustified in only partly allowing the expenditure. On the facts and circumstances of the case, the expenditure is incurred for the purpose of business and therefore allowable. (3) That

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

reassessment is bad in law and the addition made in the assessment order is illegal as no incriminating document or unaccounted income was found during the course of search in the case of assessee. We would be submitting further while discussing the individual unds for addition made in the Assessment order. GROUND NO. 2; That the learned AO erred

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