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

194A(3)(v), co-operative banks have been excluded from the definition of 'co-operative society by the Finance Act, 2015. The High Court of Karnataka has held that the effect of the aforesaid amendment explicitly makes clear intention of legislation that co-operative banks are not specie of genus co-operative society, which would be entitled to exemption

ASSTT. CIT, CIR- 7, NAGPUR vs. M/S. NEWQUEST CORPORATION LTD., CHANDRAPUR

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year: 2008-2009 The Acit Vs. M/S.Newquest Corporation Ltd. Circle-7, (Now Known As M/S. Avantha Nagpur Holding Ltd. Ballalrpur Paper Mills P.O. Ballarpur, Distt. Chandrapur Pan No.:Aabcb 6134 E Appellant Respondent

v. CIT[2016] 236 Taxman 447[2015] 63 taxmann.com 308/379 ITR 0347 wherein it was held that once it was established that there was nexus between expenditure and purpose of business, Revenue could not justifiably claim to put itself in the arm-chair of a businessman or in the position of Board of Directors and decide how much was reasonable

AVANTHA HOLDINGS LIMITED,NEW DELHI vs. A.C.I.T. CIR-5,, NAGPUR

In the result, appeal filed by the assessee is dismissed

194A of I.T. Act 1961. In the absence of obligation to deduct tax at source provisions of section 40(a)(ia) of I.T. Act 1961 cannot be invoked. The reasons for disallowance given by A.O. is unjustified and has correctly being held by CIT(A) to be not a valid reason for not allowing the claim of deduction

DY. C.I.T. CIR-.5, NAGPUR vs. M/S AVANTHA HOLDINGS LTD.,, CHANDRAPUR

In the result, appeal filed by the assessee is dismissed

194A of I.T. Act 1961. In the absence of obligation to deduct tax at source provisions of section 40(a)(ia) of I.T. Act 1961 cannot be invoked. The reasons for disallowance given by A.O. is unjustified and has correctly being held by CIT(A) to be not a valid reason for not allowing the claim of deduction

DEPUTY COMMISSIONER OF INCOME TAX, NAGPUR vs. AVANTHA HOLDINGS LIMITED, CHANDRAPUR

In the result, appeal filed by the assessee is dismissed

194A of I.T. Act 1961. In the absence of\nobligation to deduct tax at source provisions of section 40(a)(ia) of I.T. Act\n1961 cannot be invoked. The reasons for disallowance given by A.O. is\nunjustified and has correctly being held by CIT(A) to be not a valid reason for\nnot allowing the claim of deduction