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236 results for “section 68”+ Section 12clear

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Key Topics

Section 143(3)99 Section 153A87 Section 69A57 Addition to Income56 Section 6854 Section 80I35 Section 69C34 Section 44A31 Section 115B27 Disallowance

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

ITA 229/NAG/2022[2014-15]Status: DisposedITAT Nagpur25 Oct 2024AY 2014-15

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

For Appellant: Shri Kishore P. DewaniFor Respondent: Shri Sandipkumar Salunke

Section 143(3)Section 14ASection 68

12 At this stage, it would be apposite to advert to section 68 of the Act, relevant portion of which

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

In the result, appeal filed by the Revenue is dismissed

Showing 1–20 of 236 · Page 1 of 12

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Search & Seizure19

ITA 47/NAG/2019[2012-13]Status: DisposedITAT Nagpur02 Sept 2024AY 2012-13

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

For Appellant: Shri Kapil Hirani a/wFor Respondent: Shri Kailash C. Kanojiya

Section 132(4)Section 143(3)Section 263Section 68

section 68 of the Act. The learned A.R. further invited attention of the Bench to the observation of the Assessing Officer at Page–6 of the assessment order, wherein the Assessing Officer has categorically accepted that the assessee company has furnished confirmation letters, bank statements, return of income of the share applicants and further invited the attention to Pages

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

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

ITA 178/NAG/2017[2009-10]Status: DisposedITAT Nagpur28 Jun 2022AY 2009-10

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

For Appellant: Shri Kapil Hirani, AdvFor Respondent: Shri Vitthal M. Bhosale (JCIT-DR)

Section 132(4)Section 147Section 148Section 68

12 and 13 of ld. CIT (Appeals) order. Taking it into consideration entire facts and circumstances of the case and the ratio of the decision relied upon by the Ld. AR, we set aside the order passed by the Ld. CIT (Appeals) and direct the AO to delete the additions so made under section 68

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

ITA 207/NAG/2017[2012-13]Status: DisposedITAT Nagpur28 Jun 2022AY 2012-13

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

For Appellant: Shri MahaveerAtal, CAFor Respondent: ShriPiyushKohle, CIT-DR

Section 133(6)Section 143(1)Section 143(2)Section 143(3)Section 56

12. In IT Appeal No. 26/2017 and others in the case of Pr. CIT, Nagpur vs. M/s. Apeak Info Tech, Nagpur and others the Hon'ble Bombay High Court Nagpur Bench vide order dated 08.06.2017 has inter alia observed as under: 8(c) In any case, we may point out that the amendment to Section 68

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

In the result, appeal of the assessee is allowed

ITA 207/NAG/2018[2010-11]Status: DisposedITAT Nagpur15 Jul 2022AY 2010-11

For Appellant: Dr. Milind Bhusare, AdvocateFor Respondent: Shri Vitthal M. Bhosale, Jt. CIT

Section 143(3)Section 147Section 148Section 234BSection 68

section 68 which are jointly held along with spouse of the assessee and in the matter of rejecting the explanation that said deposits are made by other co holder of the bank account out of sale proceeds of the agriculture land and in the matter of arbitrarily rejecting the evidences submitted by assessee being unregistered agreement to sale holding

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

In the result, assessee' appeal for A

ITA 55/NAG/2022[2012-13]Status: DisposedITAT Nagpur25 Feb 2025AY 2012-13

Section 132Section 133ASection 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

68,000, was made on account of alleged commission income. A survey action under section 133A of the Act was also carried out at the official premises of assessee i.e., M/s. SNJ & Associates, (a Partnership Firm in which Shri Sanjay Jain, who is a Chartered Accountant, is also a Partner) situated at 1st Floor, Mangalam Icon, Ramnagar Square, Nagpur

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

ITA 57/NAG/2022[2014-15]Status: DisposedITAT Nagpur25 Feb 2025AY 2014-15

For Appellant: Shri Rajesh LoyaFor Respondent: Shri Sandipkumar Salunke

Section 132Section 133ASection 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

68,000, was made on account of alleged commission income.\nA survey action under section 133A of the Act was also carried out at the\nofficial premises of assessee i.e., M/s. SNJ & Associates, (a Partnership Firm\nin which Shri Sanjay Jain, who is a Chartered Accountant, is also a Partner)\nsituated at 1st Floor, Mangalam Icon, Ramnagar Square, Nagpur

RAVINDRA MADANLAL KHANDELWAL,AKOLA vs. DCIT/ACIT CIRCLE , AKOLA

In the result, appeal filed by the assessee is allowed for statistical purposes

ITA 375/NAG/2024[2018-19]Status: DisposedITAT Nagpur18 Nov 2024AY 2018-19

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

For Appellant: Shri Mahavir AtalFor Respondent: Shri Sandipkumar Salunke

Section 142(1)Section 143Section 144BSection 68

12. At this stage, it would be apposite to advert to section 68 of the Act, relevant portion of which

THE DY. C.I.T., CENTRAL CIR. 2(1),, NAGPUR vs. M/S MAHAVIR COAL RESOURCES PVT. LTD.,,

In the result, appeal filed by the Revenue for A

ITA 385/NAG/2014[2010-11]Status: DisposedITAT Nagpur08 Jan 2025AY 2010-11

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

For Appellant: Shri Kishore P. DewaniFor Respondent: Shri Sandipkumar Salunke

Section 132(1)Section 153C

section 68 of the Act is unjustified and unsustainable. Various judicial precedents relied upon in the submission of assessee are as under:– i) CIT v/s Lovely Exports Pvt. Ltd. [2008] 216 CTR 195 (SC); “2. Can the amount of share money be regarded as undisclosed income under s. 68 of IT Act, 1961? We find no merit in this

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

ITA 59/NAG/2022[2017-18]Status: DisposedITAT Nagpur25 Feb 2025AY 2017-18

For Appellant: Shri Rajesh LoyaFor Respondent: Shri Sandipkumar Salunke

Section 132Section 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

68,000, was made on account of alleged commission income.\nA survey action under section 133A of the Act was also carried out at the\nofficial premises of assessee i.e., M/s. SNJ & Associates, (a Partnership Firm\nin which Shri Sanjay Jain, who is a Chartered Accountant, is also a Partner)\nsituated at 1st Floor, Mangalam Icon, Ramnagar Square, Nagpur

THE DY. C.I.T., CENTRAL CIR. 2(1),, NAGPUR vs. M/S MAHAVIR COAL RESOURCES PVT. LTD.,,

In the result, appeal filed by the Revenue for A

ITA 386/NAG/2014[2011-12]Status: DisposedITAT Nagpur08 Jan 2025AY 2011-12

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

For Appellant: Shri Kishore P. DewaniFor Respondent: Shri Sandipkumar Salunke

section 68 of the Act. It was submitted that 4 M/s. Mahavir Coal Resources Pvt. Ltd. Assessment Year – 2011–12

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

In the result, assessee' appeal for A

ITA 58/NAG/2022[2015-16]Status: DisposedITAT Nagpur25 Feb 2025AY 2015-16

For Appellant: Shri Rajesh LoyaFor Respondent: Shri Sandipkumar Salunke

Section 132Section 133ASection 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

section 69.\nFurther, we may point out that section 68 under which the addition has\nbeen made by the Assessing Officer reads as under:\n\"68. Where any sum is found credited in the books of an assessee\nmaintained for any previous year. and the assessee offers no\nexplanation about the nature and source thereof or the explanation

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

ITA 54/NAG/2022[2011-12]Status: DisposedITAT Nagpur25 Feb 2025AY 2011-12

For Appellant: Shri Rajesh LoyaFor Respondent: Shri Sandipkumar Salunke

Section 132Section 133ASection 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

section 69.\nFurther, we may point out that section 68 under which the addition has\nbeen made by the Assessing Officer reads as under:\n\"68. Where any sum is found credited in the books of an assessee\nmaintained for any previous year. and the assessee offers no\nexplanation about the nature and source thereof or the explanation

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

ITA 56/NAG/2022[2013-14]Status: DisposedITAT Nagpur25 Feb 2025AY 2013-14

For Appellant: Shri Rajesh LoyaFor Respondent: Shri Sandipkumar Salunke

Section 132Section 133ASection 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

section 69.\nFurther, we may point out that section 68 under which the addition has\nbeen made by the Assessing Officer reads as under:\n\"68. Where any sum is found credited in the books of an assessee\nmaintained for any previous year. and the assessee offers no\nexplanation about the nature and source thereof or the explanation

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

ITA 140/NAG/2021[2018-19]Status: DisposedITAT Nagpur29 Jul 2024AY 2018-19

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

Section 142ASection 145

Section 68 – Rs. 6 crores total – Unsecured loans from (i) Anubhav Vinimay – Rs.2,00,00,000/- (ii) Blue View Trade Comm.Pvt Ltd. Rs.3 Crores (iii) Raj Laxmi Decision Pvt.Ltd – Rs.1 crore 5 27/Nag/2020 2015-16 Department 143(3) r.w.s. Abated 1.Sec.69C – Common 153A Dt. Investment based CIT(A) 22.12.2017 on DVO Report Order Amount Rs. 15.11.2019 12

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

ITA 26/NAG/2020[2014-15]Status: DisposedITAT Nagpur29 Jul 2024AY 2014-15

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

Section 142ASection 145

Section 68 – Rs. 6 crores total – Unsecured loans from (i) Anubhav Vinimay – Rs.2,00,00,000/- (ii) Blue View Trade Comm.Pvt Ltd. Rs.3 Crores (iii) Raj Laxmi Decision Pvt.Ltd – Rs.1 crore 5 27/Nag/2020 2015-16 Department 143(3) r.w.s. Abated 1.Sec.69C – Common 153A Dt. Investment based CIT(A) 22.12.2017 on DVO Report Order Amount Rs. 15.11.2019 12

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

ITA 27/NAG/2020[2015-16]Status: DisposedITAT Nagpur29 Jul 2024AY 2015-16

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

Section 142ASection 145

Section 68 – Rs. 6 crores total – Unsecured loans from (i) Anubhav Vinimay – Rs.2,00,00,000/- (ii) Blue View Trade Comm.Pvt Ltd. Rs.3 Crores (iii) Raj Laxmi Decision Pvt.Ltd – Rs.1 crore 5 27/Nag/2020 2015-16 Department 143(3) r.w.s. Abated 1.Sec.69C – Common 153A Dt. Investment based CIT(A) 22.12.2017 on DVO Report Order Amount Rs. 15.11.2019 12

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

ITA 49/NAG/2021[2013-14]Status: DisposedITAT Nagpur29 Jul 2024AY 2013-14

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

Section 142ASection 145

Section 68 – Rs. 6 crores total – Unsecured loans from (i) Anubhav Vinimay – Rs.2,00,00,000/- (ii) Blue View Trade Comm.Pvt Ltd. Rs.3 Crores (iii) Raj Laxmi Decision Pvt.Ltd – Rs.1 crore 5 27/Nag/2020 2015-16 Department 143(3) r.w.s. Abated 1.Sec.69C – Common 153A Dt. Investment based CIT(A) 22.12.2017 on DVO Report Order Amount Rs. 15.11.2019 12

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

ITA 47/NAG/2021[2011-12]Status: DisposedITAT Nagpur29 Jul 2024AY 2011-12

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

Section 142ASection 145

Section 68 – Rs. 6 crores total – Unsecured loans from (i) Anubhav Vinimay – Rs.2,00,00,000/- (ii) Blue View Trade Comm.Pvt Ltd. Rs.3 Crores (iii) Raj Laxmi Decision Pvt.Ltd – Rs.1 crore 5 27/Nag/2020 2015-16 Department 143(3) r.w.s. Abated 1.Sec.69C – Common 153A Dt. Investment based CIT(A) 22.12.2017 on DVO Report Order Amount Rs. 15.11.2019 12

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

ITA 48/NAG/2021[2012-13]Status: DisposedITAT Nagpur29 Jul 2024AY 2012-13

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

Section 142ASection 145

Section 68 – Rs. 6 crores total – Unsecured loans from (i) Anubhav Vinimay – Rs.2,00,00,000/- (ii) Blue View Trade Comm.Pvt Ltd. Rs.3 Crores (iii) Raj Laxmi Decision Pvt.Ltd – Rs.1 crore 5 27/Nag/2020 2015-16 Department 143(3) r.w.s. Abated 1.Sec.69C – Common 153A Dt. Investment based CIT(A) 22.12.2017 on DVO Report Order Amount Rs. 15.11.2019 12