DY. COMMISSIONER OF INCOME TAX- CENTRAL-CIRCLE-2 (1), NAGPUR, NAGPUR vs. JAYMAHAKALI SHIKSHAN SANSTHA, WARDHA

In the result, Revenue’s appeal for A

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

68,022 which includes depreciation of ` 5,57,40,754. The Assessing Officer invoking provisions of section 11(6) of the Act disallowed depreciation by holding that the assessee trust had already claimed the purchase of asset as an application of income. 28. Before the learned CIT(A), it was the submissions of the assessee trust that it only

DY. COMMISSIONER OF INCOME TAX- CENTRAL-CIRCLE-2(1), NAGPUR, NAGPUR vs. JAYMAHAKALI SHIKSHAN SANSTHA, WARDHA

In the result, Revenue’s appeal for A

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

68,022 which includes depreciation of ` 5,57,40,754. The Assessing Officer invoking provisions of section 11(6) of the Act disallowed depreciation by holding that the assessee trust had already claimed the purchase of asset as an application of income. 28. Before the learned CIT(A), it was the submissions of the assessee trust that it only

ITO, WARD- 1)1), NAGPUR vs. AXYKNO ENTERPRISES PVT. LTD., NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

3) r/w section 263 of the Act on 29/12/2017, making an addition of ` 1,58,50,000, representing share capital received by the assessee during the year from various companies mentioned hereunder holding the same to be not genuine and consequently making the addition under section 68 of the Act. The assessee had during the year received share

DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCEL-1(2, NAGPUR vs. M/S. VIBRANT GLOBAL CAPITAL LTD., MUMBAI

In the result, appeal filed by the Revenue is dismissed

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

68 of I.T. Act 1961 is unjustified. Reliance on: i) (1986) 159 ITR 0078 (S.C) CIT v/s Orissa Corporation (P) Ltd. (P- 1 to 7) [Vol. – V] (3, 7) ii) ITAT, Indore Bench order in ITA No.361/Ind/2022 in the case of Shri Kanwarjeet Singh Nanda vide order dated 20/11/2023

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 and consequently deleted the disallowance of Rs. 3,10,478/-, which was made with respect to interest and when the same has been confirmed by the ITAT, it cannot be said that ITAT has committed any error and/or illegality, which calls for the interference of this Court. In paragraph 11

INCOME TAX OFFICER, WARD 5(3),, NAGPUR vs. M/S. 21ST CENTURY INFRASTRUCTURE (INDIA) PVT. LTD., NAGPUR

In the result, the appeal of the Department is dismissed

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am

3), JAIPUR VS 21st CENTURY INFRASTRUCTURE (INDIA) PVT. LTD. NAGAPUR the proviso to section 68 of the Act introduced with effect from April 1, 2013 will not have retrospective effect and would be effective only from the assessment year 2013-14. 2.20 Both the above judgment of Jurisdictional Bombay High Court of Gagandeep Infrastructure and ApeakInfotech was followed

AXYKNO CAPITAL SERVICES LTD,,NAGPUR vs. DCIT CIRCLE 1, NAGPUR

In the result, both the appeals of the assessee are allowed

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am

11. After having heard the parties at length, we find that additions in this case were made on account of unexplained cash credit under section 68 of the Income Tax Act on the ground that during the year under consideration, the assessee had received unsecured loans of aggregated amount of Rs. 1,50,00,000. The details of which

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

section 68 of the Income-tax Act and consequently\ndeleted the disallowance of Rs. 3,10,478/-, which was made with respect to\ninterest and when the same has been confirmed by the ITAT, it cannot be said\nthat ITAT has committed any error and/or illegality, which calls for the\ninterference of this Court.\nIn paragraph 11

UMESH SADASHIV THAKRE ,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(1), NAGPUR

11 AM in the office of Addl. CIT – reg.” ix) In the covering letter itself, the learned D.R. stated in Para-2,3,4 that these \"confidential” documents were produced before this Bench on 18/02/2025, but the Bench refrained from accepting the same as they were in sealed cover, however, as these documents were important, they are being submitted

ATUL MANOHARRAO YAMSANWAR,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE 2(1), NAGPUR

11 AM in the office of Addl. CIT – reg.” ix) In the covering letter itself, the learned D.R. stated in Para-2,3,4 that these \"confidential” documents were produced before this Bench on 18/02/2025, but the Bench refrained from accepting the same as they were in sealed cover, however, as these documents were important, they are being submitted

RAMKRUSHNA ZILBAJI THAKRE ,NAGPUR vs. INCOME TAX OFFICER , WRAD -4(4), NAGPUR

In the result, appeal of the assessee is allowed

11 of the Specific Relief Act, 1877 (3 of 1877) or as evidence of any collateral transaction 22. Section 49 of the Registration Act expressly states admissibility of unregistered documents in evidence for collateral purposes. The word 'collateral' signifies something beyond or parallel. According to Law Lexicon it means "that which is by the side, and not the direct

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

3,99,600, when the assessment year 2014-15 is unabated assessment on the date of initiation of search, i.e., on 11/07/2019. Search and seizure under section 132 has been conducted on 11-7- 19, which is concluded on 12/07/2019, in the business premises of the assessee at H.No.697, Behind 16 Kholi, Tikrapara, Bilaspur; Notice 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

3,99,600, when the assessment year 2014-15 is unabated assessment on the date of initiation of search, i.e., on 11/07/2019. Search and seizure under section 132 has been conducted on 11-7- 19, which is concluded on 12/07/2019, in the business premises of the assessee at H.No.697, Behind 16 Kholi, Tikrapara, Bilaspur; Notice 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

3,99,600, when the assessment year 2014-15 is unabated assessment on the date of initiation of search, i.e., on 11/07/2019. Search and seizure under section 132 has been conducted on 11-7- 19, which is concluded on 12/07/2019, in the business premises of the assessee at H.No.697, Behind 16 Kholi, Tikrapara, Bilaspur; Notice 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

3,99,600, when the assessment year 2014-15 is unabated assessment on the date of initiation of search, i.e., on 11/07/2019. Search and seizure under section 132 has been conducted on 11-7- 19, which is concluded on 12/07/2019, in the business premises of the assessee at H.No.697, Behind 16 Kholi, Tikrapara, Bilaspur; Notice 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

3,99,600, when the assessment year 2014-15 is unabated assessment on the date of initiation of search, i.e., on 11/07/2019. Search and seizure under section 132 has been conducted on 11-7- 19, which is concluded on 12/07/2019, in the business premises of the assessee at H.No.697, Behind 16 Kholi, Tikrapara, Bilaspur; Notice 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

3,99,600, when the assessment year 2014-15 is unabated assessment on the date of initiation of search, i.e., on 11/07/2019. Search and seizure under section 132 has been conducted on 11-7- 19, which is concluded on 12/07/2019, in the business premises of the assessee at H.No.697, Behind 16 Kholi, Tikrapara, Bilaspur; Notice under section

UMESH SADASHIV THAKRE ,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(1), NAGPUR

11 AM in the office\nof Addl. CIT – reg.”\nix)\nIn the covering letter itself, the learned D.R. stated in Para-2,3,4 that these \"confidential” documents were produced before this Bench on 18/02/2025, but the Bench refrained from accepting the same as they were in sealed cover, however, as these documents were important, they are being submitted

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

section 68 of the Income-tax Act and consequently\ndeleted the disallowance of Rs. 3,10,478/-, which was made with respect to\ninterest and when the same has been confirmed by the ITAT, it cannot be said\nthat ITAT has committed any error and/or illegality, which calls for the\ninterference of this Court.\nIn paragraph 11