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

68,000, was made on account of alleged commission income.\nA survey action under section 133A of the Act was also

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

In the result, assessee' appeal for A

68,000, was made on account of alleged commission income.\nA survey action under section 133A of the Act was also

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

68,000, was made on account of alleged commission income.\nA survey action under section 133A of the Act was also

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

68,000, was made on account of alleged commission income.\nA survey action under section 133A of the Act was also

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 2(2), NAGPUR vs. M/S KARAN KOTHARI AABHUSHAN PRIVATE LIMITED, NAGPUR

In the result, this appeal of the revenue is dismissed

Bench: Shri Sandeep Gosain, Jm & Shri O.P. Kant, Am Assessment Year: 2013-14 A.C.I.T., Vs. Smt. Chandana Kothari, Central Circle-2(2), Kothari Bhawan, Naik Lane, Nagpur. Itwari, Nagpur-440002. Pan No.: Ambpk 2497 G Appellant Respondent Assessment Year: 2013-14 A.C.I.T., Vs. Smt. Smita Kothari, Central Circle-2(2), Kothari Bhawan, Naik Lane, Nagpur. Itwari, Nagpur-440002. Pan No.: Alnpk 1191 N Appellant Respondent Assessment Year: 2013-14 A.C.I.T., Vs. Smt. Sunita Suresh Kothari, Central Circle-2(2), Kothari Bhawan, Naik Lane, Nagpur. Itwari, Nagpur-440002. Pan No.: Affpk 2282 L Appellant Respondent Assessment Year: 2013-14 A.C.I.T., Vs. Smt. Seema Kothari, Central Circle-2(2), Kothari Bhawan, Naik Lane, Nagpur. Itwari, Nagpur-440002. Pan No.: Alnpk 1190 P Appellant Respondent Assessment Year: 2015-16 A.C.I.T., Vs. M/S Karan Kothari Aabhushan

section 68 of the Act. If the assessee furnishes an explanation, the AO should examine whether the explanation so offered establishes the three ingredients i.e. identity of the creditor, creditworthiness of the creditor and genuineness of the transactions. If the explanation so offered by the assessee is not acceptable or reliable, the AO should give a detailed reasoning

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CRICLE -2(2), NAGPUR vs. SMT. CHANDANA KOTHARI , NAGPUR

In the result, this appeal of the revenue is dismissed

Bench: Shri Sandeep Gosain, Jm & Shri O.P. Kant, Am Assessment Year: 2013-14 A.C.I.T., Vs. Smt. Chandana Kothari, Central Circle-2(2), Kothari Bhawan, Naik Lane, Nagpur. Itwari, Nagpur-440002. Pan No.: Ambpk 2497 G Appellant Respondent Assessment Year: 2013-14 A.C.I.T., Vs. Smt. Smita Kothari, Central Circle-2(2), Kothari Bhawan, Naik Lane, Nagpur. Itwari, Nagpur-440002. Pan No.: Alnpk 1191 N Appellant Respondent Assessment Year: 2013-14 A.C.I.T., Vs. Smt. Sunita Suresh Kothari, Central Circle-2(2), Kothari Bhawan, Naik Lane, Nagpur. Itwari, Nagpur-440002. Pan No.: Affpk 2282 L Appellant Respondent Assessment Year: 2013-14 A.C.I.T., Vs. Smt. Seema Kothari, Central Circle-2(2), Kothari Bhawan, Naik Lane, Nagpur. Itwari, Nagpur-440002. Pan No.: Alnpk 1190 P Appellant Respondent Assessment Year: 2015-16 A.C.I.T., Vs. M/S Karan Kothari Aabhushan

section 68 of the Act. If the assessee furnishes an explanation, the AO should examine whether the explanation so offered establishes the three ingredients i.e. identity of the creditor, creditworthiness of the creditor and genuineness of the transactions. If the explanation so offered by the assessee is not acceptable or reliable, the AO should give a detailed reasoning

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -2(2), NAGPUR vs. SMT. SMITA KOTHARI , NAGPUR

In the result, this appeal of the revenue is dismissed

Bench: Shri Sandeep Gosain, Jm & Shri O.P. Kant, Am Assessment Year: 2013-14 A.C.I.T., Vs. Smt. Chandana Kothari, Central Circle-2(2), Kothari Bhawan, Naik Lane, Nagpur. Itwari, Nagpur-440002. Pan No.: Ambpk 2497 G Appellant Respondent Assessment Year: 2013-14 A.C.I.T., Vs. Smt. Smita Kothari, Central Circle-2(2), Kothari Bhawan, Naik Lane, Nagpur. Itwari, Nagpur-440002. Pan No.: Alnpk 1191 N Appellant Respondent Assessment Year: 2013-14 A.C.I.T., Vs. Smt. Sunita Suresh Kothari, Central Circle-2(2), Kothari Bhawan, Naik Lane, Nagpur. Itwari, Nagpur-440002. Pan No.: Affpk 2282 L Appellant Respondent Assessment Year: 2013-14 A.C.I.T., Vs. Smt. Seema Kothari, Central Circle-2(2), Kothari Bhawan, Naik Lane, Nagpur. Itwari, Nagpur-440002. Pan No.: Alnpk 1190 P Appellant Respondent Assessment Year: 2015-16 A.C.I.T., Vs. M/S Karan Kothari Aabhushan

section 68 of the Act. If the assessee furnishes an explanation, the AO should examine whether the explanation so offered establishes the three ingredients i.e. identity of the creditor, creditworthiness of the creditor and genuineness of the transactions. If the explanation so offered by the assessee is not acceptable or reliable, the AO should give a detailed reasoning

ASSISTATN COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -2(2), NAGPUR vs. SMT . SUNITA SURESH KOTHARI , NAGPUR

In the result, this appeal of the revenue is dismissed

Bench: Shri Sandeep Gosain, Jm & Shri O.P. Kant, Am Assessment Year: 2013-14 A.C.I.T., Vs. Smt. Chandana Kothari, Central Circle-2(2), Kothari Bhawan, Naik Lane, Nagpur. Itwari, Nagpur-440002. Pan No.: Ambpk 2497 G Appellant Respondent Assessment Year: 2013-14 A.C.I.T., Vs. Smt. Smita Kothari, Central Circle-2(2), Kothari Bhawan, Naik Lane, Nagpur. Itwari, Nagpur-440002. Pan No.: Alnpk 1191 N Appellant Respondent Assessment Year: 2013-14 A.C.I.T., Vs. Smt. Sunita Suresh Kothari, Central Circle-2(2), Kothari Bhawan, Naik Lane, Nagpur. Itwari, Nagpur-440002. Pan No.: Affpk 2282 L Appellant Respondent Assessment Year: 2013-14 A.C.I.T., Vs. Smt. Seema Kothari, Central Circle-2(2), Kothari Bhawan, Naik Lane, Nagpur. Itwari, Nagpur-440002. Pan No.: Alnpk 1190 P Appellant Respondent Assessment Year: 2015-16 A.C.I.T., Vs. M/S Karan Kothari Aabhushan

section 68 of the Act. If the assessee furnishes an explanation, the AO should examine whether the explanation so offered establishes the three ingredients i.e. identity of the creditor, creditworthiness of the creditor and genuineness of the transactions. If the explanation so offered by the assessee is not acceptable or reliable, the AO should give a detailed reasoning

ASSISTANT COMMISSIONER OF INOCME TAX CENTRAL CIRCLE -2(2), NAGPUR vs. SMT . SEEMA KOTHARI , NAGPUR

In the result, this appeal of the revenue is dismissed

Bench: Shri Sandeep Gosain, Jm & Shri O.P. Kant, Am Assessment Year: 2013-14 A.C.I.T., Vs. Smt. Chandana Kothari, Central Circle-2(2), Kothari Bhawan, Naik Lane, Nagpur. Itwari, Nagpur-440002. Pan No.: Ambpk 2497 G Appellant Respondent Assessment Year: 2013-14 A.C.I.T., Vs. Smt. Smita Kothari, Central Circle-2(2), Kothari Bhawan, Naik Lane, Nagpur. Itwari, Nagpur-440002. Pan No.: Alnpk 1191 N Appellant Respondent Assessment Year: 2013-14 A.C.I.T., Vs. Smt. Sunita Suresh Kothari, Central Circle-2(2), Kothari Bhawan, Naik Lane, Nagpur. Itwari, Nagpur-440002. Pan No.: Affpk 2282 L Appellant Respondent Assessment Year: 2013-14 A.C.I.T., Vs. Smt. Seema Kothari, Central Circle-2(2), Kothari Bhawan, Naik Lane, Nagpur. Itwari, Nagpur-440002. Pan No.: Alnpk 1190 P Appellant Respondent Assessment Year: 2015-16 A.C.I.T., Vs. M/S Karan Kothari Aabhushan

section 68 of the Act. If the assessee furnishes an explanation, the AO should examine whether the explanation so offered establishes the three ingredients i.e. identity of the creditor, creditworthiness of the creditor and genuineness of the transactions. If the explanation so offered by the assessee is not acceptable or reliable, the AO should give a detailed reasoning

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

In the result, assessee' appeal for A

68,000, was made on account of alleged commission income.\nA survey action under section 133A of the Act was also

ASSISTANT COMMISSIONER OF INCOME TAX CENT. CIRCLE-1(3), CENTRAL CIRCLE, AAYAKAR BHAWAN, NAGPUR vs. MOR ALLOYS PRIVATE LIMITED, VIZIANAGARAM

In the result, appeal filed by the Revenue is dismissed

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

Section 133A of the Income-tax Act it is not given any evidentiary value obviously for the reason that the officer is not authorised to administer oath and to take any sworn statement which alone has evidentiary value as contemplated under law. Therefore, there is much force in the argument of learned counsel for the appellant that the statement

SHRI VISHWAKARAMA JEWELLERS ,AKOLA vs. DCIT AKOLA CIRCLE, AKOLA

In the result, assessee’s appeal is allowed

Bench: Shri Narender Kumar Choudhry & Shri K.M. Roy, Accountant, Member

68 or 69A, excess stock is covered u/s 69 or 69B, construction of Shed/Godown is covered u/s 69B or 69C and advances made to Sundry Parties is covered u/s 69, 69B or 69D is like an open ended hypothesis which is not supported by any specific finding that the matter shall fall under which of the specific sections

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), NAGPUR, NAGPUR vs. MAKARAND MADHUSUDAN JOSHI, NAGPUR

In the result, appeal by the Revenue stands dismissed

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

133A of the Act was conducted at the office premises of the assessee situated at 1st Floor, J.P. House, Amravati Road, Ravinagar Square, Nagpur. Accordingly, assessee’s case was reopened under section 147 of the Act. A notice under section 148 of the Act was issued to the assessee on 05/01/2021. In response to notice dated 05/01/2021, under

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

133A of the Act in the premises of M/s. Vedshida Products Pvt. Ltd., the Department has found evidences of interest paid by M/s. Harmony Homes, in cash to the trust through the joint secretary Shri Sachin Agnihotri. Based on Annexure–B/4, the Assessing Officer came to the conclusion that the assessee trust has received income of ` 43.50 lakh

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

133A of the Act in the premises of M/s. Vedshida Products Pvt. Ltd., the Department has found evidences of interest paid by M/s. Harmony Homes, in cash to the trust through the joint secretary Shri Sachin Agnihotri. Based on Annexure–B/4, the Assessing Officer came to the conclusion that the assessee trust has received income of ` 43.50 lakh

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

133A of the Act in the premises of M/s. Vedshida Products Pvt. Ltd., the Department has found evidences of interest paid by M/s. Harmony Homes, in cash to the trust through the joint secretary Shri Sachin Agnihotri. Based on Annexure–B/4, the Assessing Officer came to the conclusion that the assessee trust has received income of ` 43.50 lakh

ASSISTANT COMMISSIONER INCOME TAX-CENTRAL CIRCLE-1(3), NAGPUR vs. RADHIKA METALS AND MINERALS, VIZIANAGARAM

In the result, appeal filed by the Revenue is dismissed

133A of the Income Tax\nAct, 1961 (\"the Act\") was conducted in Radhika Group of cases on\n13/04/2023. Subsequently, notice under section 148 of the Act was issued in\nresponse to which the assessee filed its return of income on 30/04/2023, and\ndeclaring total income of ₹ 3,11,36,784. The case was selected for scrutiny\nand ultimate

SHREE MAYA REAL ESTATE PVT. LTD.,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), NAGPUR

In the result, appeal filed by the assessee is allowed

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

68,020, on account of income under section 43CA of the Act. 5. Facts in brief:– The assessee filed its return of income for the year under consideration on 30/10/2017, declaring a total loss of ` (-) 1,06,13,791. A survey under section 133A