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 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

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

In the result, assessee' appeal for A

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

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

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 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

68 on account of unexplained unsecured loan. I have gone through the assessment order, the grounds of appeal, the submission made by the appellant. The appellant has made a detailed submission rebutting the contentions of the 5 ITA 142/NAG/2019_ ACIT Vs Smt. Chandana Kothari & Ors. Appeals Assessing Officer (AO) by establishing the facts and agitating the incorrect addition

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

68 on account of unexplained unsecured loan. I have gone through the assessment order, the grounds of appeal, the submission made by the appellant. The appellant has made a detailed submission rebutting the contentions of the 5 ITA 142/NAG/2019_ ACIT Vs Smt. Chandana Kothari & Ors. Appeals Assessing Officer (AO) by establishing the facts and agitating the incorrect addition

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

68 on account of unexplained unsecured loan. I have gone through the assessment order, the grounds of appeal, the submission made by the appellant. The appellant has made a detailed submission rebutting the contentions of the 5 ITA 142/NAG/2019_ ACIT Vs Smt. Chandana Kothari & Ors. Appeals Assessing Officer (AO) by establishing the facts and agitating the incorrect addition

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

68 on account of unexplained unsecured loan. I have gone through the assessment order, the grounds of appeal, the submission made by the appellant. The appellant has made a detailed submission rebutting the contentions of the 5 ITA 142/NAG/2019_ ACIT Vs Smt. Chandana Kothari & Ors. Appeals Assessing Officer (AO) by establishing the facts and agitating the incorrect addition

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

68 on account of unexplained unsecured loan. I have gone through the assessment order, the grounds of appeal, the submission made by the appellant. The appellant has made a detailed submission rebutting the contentions of the 5 ITA 142/NAG/2019_ ACIT Vs Smt. Chandana Kothari & Ors. Appeals Assessing Officer (AO) by establishing the facts and agitating the incorrect addition

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

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 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)\n5\nShri Sanjay Dhanraj Jain\nITA no.53, to 59/Nag

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

5. Firstly, how the ld. PCIT has arrived at a conclusive finding that the dis-crepancies found, confronted and accepted by the Assessee during the course of survey attract the deeming provisions of sections 68, 69, 69A, 69B & 69C is not apparent from the impugned order. Merely stating that excess cash is clearly covered u/s 68 or 69A, excess

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

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

M/S MAHESHWARI COAL BENEFICATION & INFRASTRUCTURE P. LTD,BILASPUR vs. DCIT CENTRAL CIRCLE-1(1), NAGPUR

In the result, appeals for the assessment year 2009–10 to 2013–14 are partly allowed

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

section 153A(1) read with „Expln-2‟; in absence of this, assessment made u/s153C would be invalid & is liable to be quashed; relied on Goldstone Cements Ltd (2023) (Gau HC); Fortune Vanijya (P) Ltd (2023) (Gau HC).” 40. In the appeal of the assessee bearing ITA No.111/Nag/ 2024, for the assessment year 2012-13 along with following additional ground