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

In the result, assessee' appeal for A

164 Taxmann.com 764 (Guj.) wherein we find that the Hon'ble Gujrat High Court has concluded that when the repayment of loan is accepted by the department in assessee's case the addition made under section 68

RAVINDRA MADANLAL KHANDELWAL,AKOLA vs. DCIT/ACIT CIRCLE , AKOLA

In the result, appeal filed by the assessee is allowed for statistical purposes

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

68 was not sustainable.” 12 Ravindra Madanlal Khandelwal ITA no.375/Nag./2024 1.16. It is evident from the above jurisprudence that the assessee was not required to disclose the source of the source and had no responsibility for verifying the source of income in the hands of lender. Thus, considering the facts of the case and in the light of documentary

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

164\nTaxmann.com 764 (Guj.) wherein we find that the Hon'ble Gujrat High Court\nhas concluded that when the repayment of loan is accepted by the\ndepartment in assessee's case the addition made under section 68

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

164\nTaxmann.com 764 (Guj.) wherein we find that the Hon'ble Gujrat High Court\nhas concluded that when the repayment of loan is accepted by the\ndepartment in assessee's case the addition made under section 68

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

In the result, assessee' appeal for A

164\nTaxmann.com 764 (Guj.) wherein we find that the Hon'ble Gujrat High Court\nhas concluded that when the repayment of loan is accepted by the\ndepartment in assessee's case the addition made under section 68

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

164\nTaxmann.com 764 (Guj.) wherein we find that the Hon'ble Gujrat High Court\nhas concluded that when the repayment of loan is accepted by the\ndepartment in assessee's case the addition made under section 68

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

164\nTaxmann.com 764 (Guj.) wherein we find that the Hon'ble Gujrat High Court\nhas concluded that when the repayment of loan is accepted by the\ndepartment in assessee's case the addition made under section 68

DY COMMISSIONER OF INOCME TAX , CIRCLE -2, NAGPUR vs. M/S N KUMAR CONSTRUCTION CO .PVT.LTD , NAGPUR

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

164 of the Paper Book. In view of the above there is no question of share application money as well as involving of Section 68

CHANDRAKUMAR MADHUSUDANJI JAJODIA,THANE vs. ASSISTANT COMMISSIONER OF INCOME TAX, AMRAVATI CIRCLE

In the result, appeal filed by the assessee is allowed

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

164 taxmann.com 764 (Guj.), wherein we find that the Hon’ble Gujarat High Court has concluded that when the repayment of loan is accepted by the Department in assessee’s case, the addition made under section 68

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

In the result, assessee' appeal for A

section 68 of the Income Tax Act,\n1961. Further, the AO did not find the explanation offered by the assessee\nsatisfactory and stated that the assessee has failed to discharge its onus\ntowards explaining the credit of Rs.15,00,000/-. We respectfully object to the\nabove observations and allegations made by the AO as the same are based

DY COMMISSIONER OF INCOME TAX , CIRCLE-1, NAGPUR vs. M/S NIHAL GITS PVT.LTD , NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

section 68 of the Act wherein the findings were regarding huge cash deposits in various bank accounts, layering of funds etc., were recorded. The Tribunal, in Leena Power Tech Engineers P. Ltd. (supra) finally observed that the identity, genuineness and credit– worthiness of investors were not proved. Therefore, the reliance placed on the 16 M/s. Raghav Finvest

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -1, NAGPUR vs. M/S RAGHAV FINVEST PVT LTD , NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

section 68 of the Act wherein the findings were regarding huge cash deposits in various bank accounts, layering of funds etc., were recorded. The Tribunal, in Leena Power Tech Engineers P. Ltd. (supra) finally observed that the identity, genuineness and credit– worthiness of investors were not proved. Therefore, the reliance placed on the 16 M/s. Raghav Finvest

ASSTT.COMMISSIONER OF INCOME TAX CIRCLE-1, NAGPUR vs. VISHNU GILTS PVT.LT, NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

section 68 of the Act wherein the findings were regarding huge cash deposits in various bank accounts, layering of funds etc., were recorded. The Tribunal, in Leena Power Tech Engineers P. Ltd. (supra) finally observed that the identity, genuineness and credit– worthiness of investors were not proved. Therefore, the reliance placed on the 16 M/s. Raghav Finvest

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

164(2) applies to the whole or a part of the relevant income of a charitable or religious trust which forfeits 8 exemptions by virtue of the provisions of the IT Act in regard to investment pattern or use of the trust property for the benefit of the settlor, etc., contained in section

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

164(2) applies to the whole or a part of the relevant income of a charitable or religious trust which forfeits 8 exemptions by virtue of the provisions of the IT Act in regard to investment pattern or use of the trust property for the benefit of the settlor, etc., contained in section

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

164(2) applies to the whole or a part of the relevant income of a charitable or religious trust which forfeits 8 exemptions by virtue of the provisions of the IT Act in regard to investment pattern or use of the trust property for the benefit of the settlor, etc., contained in section

DY. COMMISSIONER OF INCOME TAX EXEMPTION CIRCLE NAGPUR, NAGPUR vs. VIDHARBHA BAHUUDESHIYA SHIKSHAN SANSTHA, NAGPUR, NAGPUR

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri R. K. Pandaassessment Year : 2017-18

section 68 of the Act made addition of Rs.20 lakhs on the ground that the assessee has obtained loan of Rs.20 lakhs from M/s. Aneri Fincap Ltd, a company controlled and managed by Shri Rajesh G. Mehta and the said company was found to be a paper company and not engaged in any real business activity. I find

SANDIP DOHARE,GONDIA vs. THE INCOME TAX OFFICER, WARD 1, GONDIA

In the result, assessee’s appeal stands dismissed

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

section 68 of the Act which was added to total income of the assessee. Consequent upon passing of the assessment by the Assessing Officer, the assessee being aggrieved carried the matter before the first appellate authority. 5. Before the learned CIT(A), the furnished reply during the first appellate authority and explained the source of excess deposit