AXYKNO CAPITAL SERVICES LTD,,NAGPUR vs. DCIT CIRCLE 1, NAGPUR

In the result, both the appeals of the assessee are allowed

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am

d. The assessments of the Appellant were reopened under section 147 of the Act primarily for the reason that income chargeable to tax had escaped assessment on the ground that the Appellant is a 4 ITA 178/NAG/ 2017 AXYKNO CAPITAL SERVICES LTD VS DCIT, CIRCLE- 1,NAGPUR beneficiary of accommodation entries provided by one Shri Praveen Kumar Jain

RAMKRUSHNA ZILBAJI THAKRE ,NAGPUR vs. INCOME TAX OFFICER , WRAD -4(4), NAGPUR

In the result, appeal of the assessee is allowed

D E R Per Arun Khodpia, AM: This appeal filed by the assessee is made against the order passed by the CIT(A)-1, Nagpur, dated 24.05.2018, for the assessment year 2010-2011 on the following grounds of appeal :- 1. The cash deposited in both joint account amounting Rs.43,50,000/- is treated as income from other source & taxed

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

d) Amount of loan repaid during the year:- Your kindness may kindly appreciate that most of the loans were repaid during the year. This fact can be verified from the confirmation ledgers attached herewith as Annexure 1. To highlight the factum that the loans were duly repaid through the banking channel, the assessee had also submitted the bank statements before

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. A survey action under section 133A of the Act was also carried out at the official premises of assessee i.e., M/s. SNJ & Associates, (a Partnership Firm in which Shri Sanjay Jain, who is a Chartered Accountant, is also a Partner) situated at 1st Floor, Mangalam Icon, Ramnagar Square, Nagpur

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

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

THE DY. C.I.T., CENTRAL CIR. 2(1),, NAGPUR vs. M/S MAHAVIR COAL RESOURCES PVT. LTD.,,

In the result, appeal filed by the Revenue for A

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

68 of the Act. The learned D.R. thus submitted that the relief granted by the learned CIT(A) be reversed and the order passed by the Assessing Officer be restored. 5. The gist of submission, as submitted by the learned Counsel for the assessee is reproduced hereunder for ready reference:– “Ground No.1 to 5: Addition in respect to Share Application

THE DY. C.I.T., CENTRAL CIR. 2(1),, NAGPUR vs. M/S MAHAVIR COAL RESOURCES PVT. LTD.,,

In the result, appeal filed by the Revenue for A

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

5 of the judgment, has held as under:– “(e) We find that the proviso to Section 68 of the Act has been introduced by the Finance Act 2012 with effect from 1st April, 2013. Thus it would be effective only from the Assessment Year 2013-14 onwards and not for the subject Assessment Year. In fact, before the Tribunal

HINGANGHAT NAGRI SAHAKARI PAT SANSTHA,HINGANGHAT vs. INCOME TAX OFFICER WARD-1, WARDHA

In the result, appeal by the assessee for A

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

17- 01-2023 and notice 143(2) was issued vide notice dated 31-01-2023. On verification of information filed by the assessee, it is noticed that a claim for deduction u/s 80P was made by the assessee of Rs. 53,72,108/- in the return. 5 Hinganghat Nagri Sahakari Pat Sanstha ITA no.569/Nag./2024 a) The claim made

HINGANGHAT NAGRI SAHAKARI PAT SANSTHA,HINGANGHAT vs. INCOME TAX OFFICER WARD-1, WARDHA

In the result, appeal by the assessee for A

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

17- 01-2023 and notice 143(2) was issued vide notice dated 31-01-2023. On verification of information filed by the assessee, it is noticed that a claim for deduction u/s 80P was made by the assessee of Rs. 53,72,108/- in the return. 5 Hinganghat Nagri Sahakari Pat Sanstha ITA no.569/Nag./2024 a) The claim made

HINGANGHAT NAGRI SAHAKARI PAT SANSTHA,HINGANGHAT vs. INCOME TAX WARD-1, WARDHA

In the result, appeal by the assessee for A

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

17- 01-2023 and notice 143(2) was issued vide notice dated 31-01-2023. On verification of information filed by the assessee, it is noticed that a claim for deduction u/s 80P was made by the assessee of Rs. 53,72,108/- in the return. 5 Hinganghat Nagri Sahakari Pat Sanstha ITA no.569/Nag./2024 a) The claim made

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)\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

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)\n\nsituated at 1st Floor, Mangalam Icon, Ramnagar Square

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

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-2(1), NAGPUR vs. M/S. METROCITY HOMES, NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

D E R PER K.M. ROY, A.M. Captioned appeal by the Revenue is against the impugned order dated 31/03/2023, passed by the learned Commissioner of Income Tax (Appeals)–3, Nagpur, [“learned CIT(A)”], for the assessment year 2017–18. 2. In its appeal, the Revenue has raised following grounds:– “1. On the facts and in the circumstances of the case

DURGAPUR RAYATWARI COLLIERY KAMGAR SAHAKARI PAT SANSTHA,CHANDRAPUR vs. ITO WARD-2, CHANDRAPUR

In the result, appeal filed by the assessee is partly allowed

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

5) The appellant craves leave to add, alter, clarify, explain, modify, delete any of the grounds of appeal, and to seek any just and fair relief.” 12. The learned Authorised Representative appearing for the assessee submitted that the case of the assesse for the year assessment year 2020– 21, is also on similar lines as that of the assessment year

DURGAPUR RAYATWARI COLLIERY KAMGAR SAHAKARI PAT SANSTHA,CHANDRAPUR vs. ITO WARD 2, CHANDRAPUR

In the result, appeal filed by the assessee is partly allowed

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

5) The appellant craves leave to add, alter, clarify, explain, modify, delete any of the grounds of appeal, and to seek any just and fair relief.” 12. The learned Authorised Representative appearing for the assessee submitted that the case of the assesse for the year assessment year 2020– 21, is also on similar lines as that of the assessment year

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

17 Jaymahakali Shikshan Sanstha A.Y. 2017–18, 2018–19 & 2019–20 22. Accordingly, nothing merits in the Revenue’s submission that entire exemption under section 11 of the Act should be revoked. Accordingly, we direct the Assessing Officer to grant exemption under section 11 of the Act to the assessee trust as already directed by the learned