VIDHARBHA KONKAN GRAMIN BANK ,NAGPUR vs. INCOME TAX OFFICER WARD 1(5) , NAGPUR

In the result, appeal filed by the assessee for A

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

143(1) of the Income Tax Act, 1961 ("the Act") and selected for scrutiny under CASS. The Assessing Officer made assessment on total income of ` 50,81,436, by making addition of ` 97,06,79,200, as disallowance under the provisions for bad and doubtful debt under section 36(1)(viia

VIDHARBHA KONKAN GRAMIN BANK ,NAGPUR vs. INCOME TAX OFFICER WARD 1(5) , NAGPUR

In the result, appeal filed by the assessee for A

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

143(1) of the Income Tax Act, 1961 ("the Act") and selected for scrutiny under CASS. The Assessing Officer made assessment on total income of ` 50,81,436, by making addition of ` 97,06,79,200, as disallowance under the provisions for bad and doubtful debt under section 36(1)(viia

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

143(2) of the Act were also issued by the ACIT- 1(1) on various dates in the year 2020, which were duly attended by the assessee. The cases were handled by the ACIT-1(1) for good one year and then transferred to ACIT-2(1) vide order dated 22/01/2021 passed under section 127 of the Act, after

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

143(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

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

143(2) of the Act were also issued by the ACIT- 1(1) on various dates in the year 2020, which were duly attended by the assessee. The cases were handled by the ACIT-1(1) for good one year and then transferred to ACIT-2(1) vide order dated 22/01/2021 passed under section 127 of the Act, after

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

In the result, assessee' appeal for A

1) of the Act was issued on 07/06/2012, accepting the returned income. Notice under section 153A of the Act was issued on 23/05/2017, in response to which the assessee filed his return of income on 28/04/2018, declaring an income of ₹ 10,36,726. The assessment order under section 143(3) r/w section 153A dated 26/12/2018, was passed

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

1,38,48,953/- 23.3.2021 3 49/NAG/2021 2013-14 Department 143(3) r.w.s. Abated 1.Sec.69C – 263 (153A Investment based Assessment) on DVO Report Amount Rs. 8,20,24,434/- 4 26/NAG/2020 2014-15 Department 143(3) r.w.s. Abated 1.Sec.69C – 153A Dt. Investment based 22.12.2017 on DVO Report Amount Rs. 6,38,21,488/- 2. Section 68

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

1,38,48,953/- 23.3.2021 3 49/NAG/2021 2013-14 Department 143(3) r.w.s. Abated 1.Sec.69C – 263 (153A Investment based Assessment) on DVO Report Amount Rs. 8,20,24,434/- 4 26/NAG/2020 2014-15 Department 143(3) r.w.s. Abated 1.Sec.69C – 153A Dt. Investment based 22.12.2017 on DVO Report Amount Rs. 6,38,21,488/- 2. Section 68

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

1,38,48,953/- 23.3.2021 3 49/NAG/2021 2013-14 Department 143(3) r.w.s. Abated 1.Sec.69C – 263 (153A Investment based Assessment) on DVO Report Amount Rs. 8,20,24,434/- 4 26/NAG/2020 2014-15 Department 143(3) r.w.s. Abated 1.Sec.69C – 153A Dt. Investment based 22.12.2017 on DVO Report Amount Rs. 6,38,21,488/- 2. Section 68

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

1,38,48,953/- 23.3.2021 3 49/NAG/2021 2013-14 Department 143(3) r.w.s. Abated 1.Sec.69C – 263 (153A Investment based Assessment) on DVO Report Amount Rs. 8,20,24,434/- 4 26/NAG/2020 2014-15 Department 143(3) r.w.s. Abated 1.Sec.69C – 153A Dt. Investment based 22.12.2017 on DVO Report Amount Rs. 6,38,21,488/- 2. Section 68

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

1,38,48,953/- 23.3.2021 3 49/NAG/2021 2013-14 Department 143(3) r.w.s. Abated 1.Sec.69C – 263 (153A Investment based Assessment) on DVO Report Amount Rs. 8,20,24,434/- 4 26/NAG/2020 2014-15 Department 143(3) r.w.s. Abated 1.Sec.69C – 153A Dt. Investment based 22.12.2017 on DVO Report Amount Rs. 6,38,21,488/- 2. Section 68

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

1,38,48,953/- 23.3.2021 3 49/NAG/2021 2013-14 Department 143(3) r.w.s. Abated 1.Sec.69C – 263 (153A Investment based Assessment) on DVO Report Amount Rs. 8,20,24,434/- 4 26/NAG/2020 2014-15 Department 143(3) r.w.s. Abated 1.Sec.69C – 153A Dt. Investment based 22.12.2017 on DVO Report Amount Rs. 6,38,21,488/- 2. Section 68

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

1) of the Act was\nissued on 07/06/2012, accepting the returned income. Notice under section\n153A of the Act was issued on 23/05/2017, in response to which the assessee\nfiled his return of income on 28/04/2018, declaring an income of ₹ 10,36,726.\nThe assessment order under section 143(3) r/w section 153A dated\n26/12/2018, was passed

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

1) & 68.” 24. Thus, we find on merits also and addition of ` 12 lakh for the assessment year 2014–15 on account of unsecured loan treating it as unexplained under section 68, when it is opening balance as on 01/04/2023 brought forward from earlier year and no fresh cash credit received during the assessment year

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

1) & 68.” 24. Thus, we find on merits also and addition of ` 12 lakh for the assessment year 2014–15 on account of unsecured loan treating it as unexplained under section 68, when it is opening balance as on 01/04/2023 brought forward from earlier year and no fresh cash credit received during the assessment year

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

1) & 68.” 24. Thus, we find on merits also and addition of ` 12 lakh for the assessment year 2014–15 on account of unsecured loan treating it as unexplained under section 68, when it is opening balance as on 01/04/2023 brought forward from earlier year and no fresh cash credit received during the assessment year

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

1) & 68.” 24. Thus, we find on merits also and addition of ` 12 lakh for the assessment year 2014–15 on account of unsecured loan treating it as unexplained under section 68, when it is opening balance as on 01/04/2023 brought forward from earlier year and no fresh cash credit received during the assessment year

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

1) & 68.” 24. Thus, we find on merits also and addition of ` 12 lakh for the assessment year 2014–15 on account of unsecured loan treating it as unexplained under section 68, when it is opening balance as on 01/04/2023 brought forward from earlier year and no fresh cash credit received during the assessment year

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

1) & 68.” 24. Thus, we find on merits also and addition of ` 12 lakh for the assessment year 2014–15 on account of unsecured loan treating it as unexplained under section 68, when it is opening balance as on 01/04/2023 brought forward from earlier year and no fresh cash credit received during the assessment year