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

II (Technical) of the Manual reads as under:- \"9. Approval for assessment: An assessment order under Chapter XIV-B can be passed only with the previous approval of the range JCIT/ADDL.CIT (For the period from 30-6-1995 to 31-12-1996 the approving authority was the CIT.). The Assessing Officer should submit the draft assessment order for such approval

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 of the Act. The assessee had during the year received

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

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-\n1(1) on various dates in the year 2020, which were duly attended by the\nassessee. The cases were handled by the ACIT-1(1) for good one year\nand then transferred to ACIT-2(1) vide order dated 22/01/2021 passed\nunder section 127 of the Act, after

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

In the result, all the appeals filed by the assessee are allowed and all\nthe appeals filed by the Revenue are dismissed

143(2) of the Act were also issued by the ACIT-\n1(1) on various dates in the year 2020, which were duly attended by the\nassessee. The cases were handled by the ACIT-1(1) for good one year\nand then transferred to ACIT-2(1) vide order dated 22/01/2021 passed\nunder section 127 of the Act, after

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

68 of the Act. For such arguments, the learned A.R. relied on the following case laws:–  CIT v/s Usha Stud Agricultural Farms Ltd. (2008) 183 taxmann.com 277 (Del.); and  Ravindra Arunachala Nadar v/s ACIT (2021) 129 taxmann.com 275 (Chen-Trib). 18. Further, it is submitted that similarly, addition of ` 3,99,600 on account of interest on such unsecured loan

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

68 of the Act. For such arguments, the learned A.R. relied on the following case laws:–  CIT v/s Usha Stud Agricultural Farms Ltd. (2008) 183 taxmann.com 277 (Del.); and  Ravindra Arunachala Nadar v/s ACIT (2021) 129 taxmann.com 275 (Chen-Trib). 18. Further, it is submitted that similarly, addition of ` 3,99,600 on account of interest on such unsecured loan

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

68 of the Act. For such arguments, the learned A.R. relied on the following case laws:–  CIT v/s Usha Stud Agricultural Farms Ltd. (2008) 183 taxmann.com 277 (Del.); and  Ravindra Arunachala Nadar v/s ACIT (2021) 129 taxmann.com 275 (Chen-Trib). 18. Further, it is submitted that similarly, addition of ` 3,99,600 on account of interest on such unsecured loan

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

68 of the Act. For such arguments, the learned A.R. relied on the following case laws:–  CIT v/s Usha Stud Agricultural Farms Ltd. (2008) 183 taxmann.com 277 (Del.); and  Ravindra Arunachala Nadar v/s ACIT (2021) 129 taxmann.com 275 (Chen-Trib). 18. Further, it is submitted that similarly, addition of ` 3,99,600 on account of interest on such unsecured loan

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

68 of the Act. For such arguments, the learned A.R. relied on the following case laws:–  CIT v/s Usha Stud Agricultural Farms Ltd. (2008) 183 taxmann.com 277 (Del.); and  Ravindra Arunachala Nadar v/s ACIT (2021) 129 taxmann.com 275 (Chen-Trib). 18. Further, it is submitted that similarly, addition of ` 3,99,600 on account of interest on such unsecured loan

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

68 of the Act. For such arguments, the learned A.R. relied on the following case laws:–  CIT v/s Usha Stud Agricultural Farms Ltd. (2008) 183 taxmann.com 277 (Del.); and  Ravindra Arunachala Nadar v/s ACIT (2021) 129 taxmann.com 275 (Chen-Trib). 18. Further, it is submitted that similarly, addition of ` 3,99,600 on account of interest on such unsecured loan

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

In the result, assessee' appeal for A

143(3) r/w section 153A of the Act. The learned CIT(A), vide its impugned order at Para-4.4 concluded that the Assessing Officer has made the addition referring to the statement of Shri Praveen Kumar Agrawal, recorded under section 131(1) by the Investigation Wing, Kolkata, and also the statements of Shri Pramod Sharma, and Shri Pulak

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

143(3) r/w section 153A of the Act. The learned CIT(A), vide\nits impugned order at Para-4.4 concluded that the Assessing Officer has\nmade the addition referring to the statement of Shri Praveen Kumar Agrawal,\nrecorded under section 131(1) by the Investigation Wing, Kolkata, and also\nthe statements of Shri Pramod Sharma, and Shri Pulak

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

143(3) r/w section 153A of the Act. The learned CIT(A), vide\nits impugned order at Para-4.4 concluded that the Assessing Officer has\nmade the addition referring to the statement of Shri Praveen Kumar Agrawal,\nrecorded under section 131(1) by the Investigation Wing, Kolkata, and also\nthe statements of Shri Pramod Sharma, and Shri Pulak

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

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 – Rs. 6 crores total – Unsecured loans from (i) Anubhav Vinimay – Rs.2,00,00,000/- (ii

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

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 – Rs. 6 crores total – Unsecured loans from (i) Anubhav Vinimay – Rs.2,00,00,000/- (ii

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

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 – Rs. 6 crores total – Unsecured loans from (i) Anubhav Vinimay – Rs.2,00,00,000/- (ii

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

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 – Rs. 6 crores total – Unsecured loans from (i) Anubhav Vinimay – Rs.2,00,00,000/- (ii