DAYAL COTSPIN LIMITED,AKOLA vs. ACIT, AKOLA CIRCLE, AKOLA

In the result, appeal filed by the assessee is allowed

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

section 68 of the Act. 8. The gist of submission, as submitted by the learned Counsel for the assessee is reproduced hereunder for ready reference:- “Addition of Rs.180 lacs u/s 68 of I.T. Act 1961. A) Assessee has placed on record confirmation. Financial statements, acknowledgement of Income Tax Return and bank statement of corporate share holders. Assessee has placed

TAJSHREE AUTOWHEELS PRIVATE LIMITED,NAGPUR vs. ACIT CIRCLE-4, NAGPUR

In the result, assessee’s appeal is allowed for statistical purposes

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

68,690 14.35 Total 7,50,090 63.81 3. Details of shareholders from whom amount of Rs.1,00,00,000 was raised is as follows- Total Sr.No. Name No. of shares allotted amount received 1. Avinash Bhute 1,00,000 50,00,000 2. Nitin Bhute 50,000 25,00,000 3. Prashant Bhute

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

68 and 69 of the PB which contains information\nobtained by Smt. Neetu Nayyar from Central Public Information Officer who\nis none other than the Id Addl.CIT, Central Range-S, New Delhi, under RTI\nAct, wherein, it reveals that the Id Addl.CIT had granted approval for 43\ncases on 30-12-18 itself. This fact is not in dispute before

ACIT-CENTRAL CIRCLE -2(1), NAGPUR vs. SHRI NANDKUMAR KHATTUMAL HARCHANDANI , NAGPUR

In the result, appeal of the Revenue stands dismissed

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

section 10(38) were being misused by the beneficiaries of bogus long term capital gain and to avoid paying taxes and have also been forwarded the details of transactions entered into by the assessee. The learned assessing officer has not any provided the details forwarded by Investigation Wing, Kolkatta as well as statement of persons, whose statement were recorded

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 3 NAGPUR, NAGPUR vs. SWASTIK PETRO CHEM (INDIA) PRIVATE LIMITED, NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

197, B–198, B–198–P, MIDC ……………. Respondent Butibori, Nagpur 441 108 PAN – AAHCS2889P Assessee by : None Revenue by : Shri Abhay Y. Marathe Date of Hearing – 06/01/2025 Date of Order – 27/01/2025 O R D E R PER V. DURGA RAO, J.M. This appeal by the Revenue is emanating from the impugned order dated 27/05/2024, passed by the learned Commissioner

PRITAM SINGH CHARAN SINGH GUJJAR,NAGPUR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4,, NAGPUR

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao

section 50C(1) of the Act must be held to be effective from 1st April 2003, and the same is applicable retrospectively. 9. The learned A.R., in support of his arguments, relied upon the following judicial pronouncements:– 7 Pretam Singh Charan Singh Gujjar ITA no.406/Nag./2023 i) ITO v/s Rustom Fali Mehta, [2023] TaxPub(DT) 2721 (Mum- Trib