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

reassessment u/s 147 had been passed. 4. Whether on the facts and circumstances, the learned CIT erred in neither making any enquiry on his own nor considering merits of case but simply directed the learned AO to make proper enquiry and further verification thereby, rendering the order passed u/s 263 bad in law which deserves to be set aside

CHANDRAKUMAR MADHUSUDANJI JAJODIA,THANE vs. ASSISTANT COMMISSIONER OF INCOME TAX, AMRAVATI CIRCLE

In the result, appeal filed by the assessee is allowed

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

reassessment is general in nature and is not on specific transaction of assessee. Evidence placed on record is not found to be incorrect or false. Conclusion of escapement of income tantamount to mere change of opinion. Belief of escapement of income could not be derived on the basis of report of Investigation Wing being not specific to transaction of loan

VIKRAM AGRAWAL,NAGPUR vs. ITO WARD 4(4), NAGPUR

In the result, appeal is dismissed

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

147 read with section 148, on basis of report from Investigation wing of department. Therefore, where assessing Officer had been supplied with information by Investigation wing and he applied his mind to such information, there was no infirmity or illegality in issuance of notice under section 148. 6.2.4 In the case of Principal Commissioner of Income-tax-7 vs. Paramount

VIKRAM AGRAWAL,NAGPUR vs. ITO WARD 4 (4), NAGPUR

In the result, appeal is dismissed

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

147 read with section 148, on basis of report from Investigation wing of department. Therefore, where assessing Officer had been supplied with information by Investigation wing and he applied his mind to such information, there was no infirmity or illegality in issuance of notice under section 148. 6.2.4 In the case of Principal Commissioner of Income-tax-7 vs. Paramount

VIKRAM AGRAWAL,NAGPUR vs. ITO WARD 4(4), NAGPUR

In the result, appeal is dismissed

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

147 read with section 148, on basis of report from Investigation wing of department. Therefore, where assessing Officer had been supplied with information by Investigation wing and he applied his mind to such information, there was no infirmity or illegality in issuance of notice under section 148. 6.2.4 In the case of Principal Commissioner of Income-tax-7 vs. Paramount

GORAKSHAN SABHA, NAGPUR,NAGPUR vs. COMMISSIONER OF INCOME TAX (APPEALS) INCOME TAX DEPARTMENT, NATIONAL FACELESS APPEAL CENTRE (NFAC), MOF, GOI

In the result, appeal of the assessee is dismissed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.92 & 91/Nag/2023 िनधा"रण वष" / Assessment Years : 2014-15 & 2013-14 Gorakshan Sabha, The Income Tax Officer, Near Hitawada Press, V Ward Exemption, Nagpur. Wardha Road, Dhantoli, S Nagpur – 440012. Pan: Aaatg2927L Appellant/ Assessee Respondent/Revenue Assessee By None Revenue By Shri Abhay Y. Marathe - Sr.Dr Date Of Hearing 28/03/2024 Date Of Pronouncement 23/04/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: These Two Appeals Filed By The Assessee Against The Separate Orders Of Ld.Commissioner Of Income Tax(Appeals)[Nfac] Under Section 250 Of The Act, Emanating From The Common Intimation Of Outstanding Demand Order For A.Y.2014-15 & 2013-14 Respectively. Since Facts Of Both Appeals Are Similar, We Take Up Appeal For A.Y.2014-15 As

u/s 200A is illegal and without jurisdiction.(iii)That in absence of provi. in the statute, the impugned order is invalid and bad in law. (iv)That the Ld. CIT- A has not considered the basic fact of charging of late fee with retrospective effect of the provi. of section 200A r.w.s. 234E and wrongly applied decisions of various Courts

GORAKSHAN SABHA, NAGPUR,WARDHA ROAD, NAGPUR vs. COMMISSIONER OF INCOME TAX (APPEALS) INCOME TAX DEPARTMENT, NATIONAL FACELESS APPEAL CENTRE (NFAC), MOF,GOI

In the result, appeal of the assessee is dismissed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.92 & 91/Nag/2023 िनधा"रण वष" / Assessment Years : 2014-15 & 2013-14 Gorakshan Sabha, The Income Tax Officer, Near Hitawada Press, V Ward Exemption, Nagpur. Wardha Road, Dhantoli, S Nagpur – 440012. Pan: Aaatg2927L Appellant/ Assessee Respondent/Revenue Assessee By None Revenue By Shri Abhay Y. Marathe - Sr.Dr Date Of Hearing 28/03/2024 Date Of Pronouncement 23/04/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: These Two Appeals Filed By The Assessee Against The Separate Orders Of Ld.Commissioner Of Income Tax(Appeals)[Nfac] Under Section 250 Of The Act, Emanating From The Common Intimation Of Outstanding Demand Order For A.Y.2014-15 & 2013-14 Respectively. Since Facts Of Both Appeals Are Similar, We Take Up Appeal For A.Y.2014-15 As

u/s 200A is illegal and without jurisdiction.(iii)That in absence of provi. in the statute, the impugned order is invalid and bad in law. (iv)That the Ld. CIT- A has not considered the basic fact of charging of late fee with retrospective effect of the provi. of section 200A r.w.s. 234E and wrongly applied decisions of various Courts

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -1(2), NAGPUR vs. VIDARBHA INFOTECH PRIVATE LIMITED, NAGPUR

In the result, appeal by the Revenue is dismissed

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

147 of the Act on 25/12/2018. Facts of the case: Assessee filed return of income under section 139(1) of I T Act on 17/10/2016 declaring income of Rs.4,60,44,360/–. Case was selected for scrutiny and various notices were issued which were duly replied by the assessee. Assessment order under section 143(3) was passed on 25/12/2018 wherein

VIJAY VINOD DURAGKAR,NAGPUR vs. INCOME TAX OFFICER WARD 4(4), NAGPUR

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

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

u/s 148 is being obtained from the Joint Commissioner of Income Tax, Range-4, Nagpur as per the provisions of section 151 of the Act.” 11. As is evident from the reasons recorded for re–opening, the Assessing Officer re–opened the case only for the purpose of verification of the source of purchase of the property

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

TDS has been deducted on such interest expenses claimed; more so, the alleged sum had already been repaid on 4-10-18 prior to the search conducted on 11-7-19; the addition of Rs.7,59,397 is not justified, is liable to be deleted.” 29. The Assessing Officer has made following additions:– Opening bal. Interest credited Loan creditors

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

TDS has been deducted on such interest expenses claimed; more so, the alleged sum had already been repaid on 4-10-18 prior to the search conducted on 11-7-19; the addition of Rs.7,59,397 is not justified, is liable to be deleted.” 29. The Assessing Officer has made following additions:– Opening bal. Interest credited Loan creditors

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

TDS has been deducted on such interest expenses claimed; more so, the alleged sum had already been repaid on 4-10-18 prior to the search conducted on 11-7-19; the addition of Rs.7,59,397 is not justified, is liable to be deleted.” 29. The Assessing Officer has made following additions:– Opening bal. Interest credited Loan creditors

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

TDS has been deducted on such interest expenses claimed; more so, the alleged sum had already been repaid on 4-10-18 prior to the search conducted on 11-7-19; the addition of Rs.7,59,397 is not justified, is liable to be deleted.” 29. The Assessing Officer has made following additions:– Opening bal. Interest credited Loan creditors

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

TDS has been deducted on such interest expenses claimed; more so, the alleged sum had already been repaid on 4-10-18 prior to the search conducted on 11-7-19; the addition of Rs.7,59,397 is not justified, is liable to be deleted.” 29. The Assessing Officer has made following additions:– Opening bal. Interest credited Loan creditors

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

TDS has been deducted on such interest expenses claimed; more so, the alleged sum had already been repaid on 4-10-18 prior to the search conducted on 11-7-19; the addition of Rs.7,59,397 is not justified, is liable to be deleted.” 29. The Assessing Officer has made following additions:– Opening bal. Interest credited Loan creditors