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

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

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

money and evade taxes and lack of genuineness in actual operations of shell companies. 21. On the facts and circumstances of the case and in law, the Ld. CITIA) has deleted the addition by superficially assessing the genuineness of transactions by accepting the documents sighted before him on face value ignoring the surrounding circumstances, preponderance of human probabilities and ground

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

money and evade taxes and lack of genuineness in actual operations of shell companies. 21. On the facts and circumstances of the case and in law, the Ld. CITIA) has deleted the addition by superficially assessing the genuineness of transactions by accepting the documents sighted before him on face value ignoring the surrounding circumstances, preponderance of human probabilities and ground

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

money and evade taxes and lack of genuineness in actual operations of shell companies. 21. On the facts and circumstances of the case and in law, the Ld. CITIA) has deleted the addition by superficially assessing the genuineness of transactions by accepting the documents sighted before him on face value ignoring the surrounding circumstances, preponderance of human probabilities and ground

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

money and evade taxes and lack of genuineness in actual operations of shell companies. 21. On the facts and circumstances of the case and in law, the Ld. CITIA) has deleted the addition by superficially assessing the genuineness of transactions by accepting the documents sighted before him on face value ignoring the surrounding circumstances, preponderance of human probabilities and ground

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

money and evade taxes and lack of genuineness in actual operations of shell companies. 21. On the facts and circumstances of the case and in law, the Ld. CITIA) has deleted the addition by superficially assessing the genuineness of transactions by accepting the documents sighted before him on face value ignoring the surrounding circumstances, preponderance of human probabilities and ground

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

money and evade taxes and lack of genuineness in actual operations of shell companies. 21. On the facts and circumstances of the case and in law, the Ld. CITIA) has deleted the addition by superficially assessing the genuineness of transactions by accepting the documents sighted before him on face value ignoring the surrounding circumstances, preponderance of human probabilities and ground

DY COMMISSIONER OF INOCME TAX , CIRCLE -2, NAGPUR vs. M/S N KUMAR CONSTRUCTION CO .PVT.LTD , NAGPUR

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

unexplained cash credit u/s. 68. The issue in dispute is covered in favour of appellant by the decision of jurisdictional High Court in the case of CIT Vs. Creative World Telefilm Ltd. reported at 333 ITR 100 (Bom) wherein it has been held that the amount of share premium cannot be treated as income u/s

BHAWANA HARIRAM LAVHALE,AMRAVATI vs. INCOME TAX OFFICER WARD-3, AMRAVATI

In the result, assessee’s appeal for the assessment year 2013–14 is allowed for statistical purposes

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

money of the assessee. Accordingly, the Assessing Officer assessed the income of the assessee under section 144 / 144B r/w section 147 of the Act at ` 19,88,25,743. He also initiated proceedings under section 271(1)(c) of the Act separately. The assessee being aggrieved by the order so passed by the Assessing Officer, carried the matter before

BHAWANA HARIRAM LAVHALE,AMRAVATI vs. INCOME TAX OFFICER,WARD-3, AMRAVATI

In the result, assessee’s appeal for the assessment year 2013–14 is allowed for statistical purposes

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

money of the assessee. Accordingly, the Assessing Officer assessed the income of the assessee under section 144 / 144B r/w section 147 of the Act at ` 19,88,25,743. He also initiated proceedings under section 271(1)(c) of the Act separately. The assessee being aggrieved by the order so passed by the Assessing Officer, carried the matter before

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

147(b)” were inadvertently filled in the prescribed form, instead of sec147 while obtaining the sanction from the Jt.CIT. It is further submitted on behalf of the Revenue that the same is a curable defect u/s292B. Therefore, the impugned notice cannot be held to be bad for mere incorrect mentioning of sec on account of the mistake. 8. There

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

147(b)” were inadvertently filled in the prescribed form, instead of sec147 while obtaining the sanction from the Jt.CIT. It is further submitted on behalf of the Revenue that the same is a curable defect u/s292B. Therefore, the impugned notice cannot be held to be bad for mere incorrect mentioning of sec on account of the mistake. 8. There

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

147(b)” were inadvertently filled in the prescribed form, instead of sec147 while obtaining the sanction from the Jt.CIT. It is further submitted on behalf of the Revenue that the same is a curable defect u/s292B. Therefore, the impugned notice cannot be held to be bad for mere incorrect mentioning of sec on account of the mistake. 8. There

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

147(b)” were inadvertently filled in the prescribed form, instead of sec147 while obtaining the sanction from the Jt.CIT. It is further submitted on behalf of the Revenue that the same is a curable defect u/s292B. Therefore, the impugned notice cannot be held to be bad for mere incorrect mentioning of sec on account of the mistake. 8. There