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

68; the Assessing Officer has not made any addition on „undisclosed asset‟ which is sine qua non/pre-condition for assuming valid jurisdiction for making assessment under section 153C for „relevant AY‟ as per „fourth proviso‟ to section 153A(1

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

68; the Assessing Officer has not made any addition on „undisclosed asset‟ which is sine qua non/pre-condition for assuming valid jurisdiction for making assessment under section 153C for „relevant AY‟ as per „fourth proviso‟ to section 153A(1

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

68; the Assessing Officer has not made any addition on „undisclosed asset‟ which is sine qua non/pre-condition for assuming valid jurisdiction for making assessment under section 153C for „relevant AY‟ as per „fourth proviso‟ to section 153A(1

VISHAL KISHORILAL JAIN,NAGPUR vs. DCIT/ACIT CIRCLE-4, NAGPUR

In the result, assessee’s appeal for A

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

153A read with Section 153C by incorporating the " non-obstante" clause, in these provisions, which carves out an exception to any normal/regular action being resorted under Section 147. 24. In this view of the matter, we are of the clear opinion that the impugned notice under Section 147 of the I.T. Act and all actions consequent thereto

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

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

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, 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

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

153A on 27/01/2021 by showing same returned income of ` 27,17,190 as was earlier filed on 25/11/2014 under section 139 of the Act. 12. The learned A.R. further submitted that the Assessing Officer has made addition of ` 12 lakh, on account of unsecured loan treating it as unexplained credits under section 68 of the Act when

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

153A on 27/01/2021 by showing same returned income of ` 27,17,190 as was earlier filed on 25/11/2014 under section 139 of the Act. 12. The learned A.R. further submitted that the Assessing Officer has made addition of ` 12 lakh, on account of unsecured loan treating it as unexplained credits under section 68 of the Act when

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

153A on 27/01/2021 by showing same returned income of ` 27,17,190 as was earlier filed on 25/11/2014 under section 139 of the Act. 12. The learned A.R. further submitted that the Assessing Officer has made addition of ` 12 lakh, on account of unsecured loan treating it as unexplained credits under section 68 of the Act when

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

153A on 27/01/2021 by showing same returned income of ` 27,17,190 as was earlier filed on 25/11/2014 under section 139 of the Act. 12. The learned A.R. further submitted that the Assessing Officer has made addition of ` 12 lakh, on account of unsecured loan treating it as unexplained credits under section 68 of the Act when

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

153A on 27/01/2021 by showing same returned income of ` 27,17,190 as was earlier filed on 25/11/2014 under section 139 of the Act. 12. The learned A.R. further submitted that the Assessing Officer has made addition of ` 12 lakh, on account of unsecured loan treating it as unexplained credits under section 68 of the Act when

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

153A on 27/01/2021 by showing same returned income of ` 27,17,190 as was earlier filed on 25/11/2014 under section 139 of the Act. 12. The learned A.R. further submitted that the Assessing Officer has made addition of ` 12 lakh, on account of unsecured loan treating it as unexplained credits under section 68 of the Act when

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

153A(1) and it is mandatory to make first addition on the count of „undisclosed assets", then only, he would be empowered to make any other addition on certain independent issue of unexplained cash credits under section 68

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

153A(1) and it is mandatory to make first addition on the count of „undisclosed assets\", then only, he would be empowered to make any other addition on certain independent issue of unexplained cash credits under section 68