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16 results for “section 68”+ Section 199(2)clear

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Key Topics

Addition to Income13Deduction11TDS9Disallowance9Section 2637Section 142(1)4Section 143(3)4Section 1392Section 143(2)2Section 68

ECONOMIC EXPLOSIVES LIMITED,NAGPUR vs. NATIONAL E ASSESSMENT CENTRE, NEW DELHI

In the result, appeal for the assessment year 2018–19 filed by the assessee is partly allowed

ITA 242/NAG/2023[2018-19]Status: DisposedITAT Nagpur09 Sept 2024AY 2018-19

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

For Appellant: Shri Mani JainFor Respondent: Shri Kailash C. Kanojiya
Section 139Section 142(1)Section 143(2)

199 ITR 164), while dealing with the non-obstante clause contained in the MAT provisions held as under: “The non obstante clause with which this section begins could only mean that the other sections which impose tax on book profit alone are to be ignored and not that the section which deems a capital receipt as income

ECONOMIC EXPLOSIVES LIMITED,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1 (2), NAGPUR

2
Section 10(38)2

In the result, appeal for the assessment year 2018–19 filed by the assessee is partly allowed

ITA 177/NAG/2022[2017-18]Status: DisposedITAT Nagpur09 Sept 2024AY 2017-18

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

For Appellant: Shri Mani JainFor Respondent: Shri Kailash C. Kanojiya
Section 139Section 142(1)Section 143(2)

199 ITR 164), while dealing with the non-obstante clause contained in the MAT provisions held as under: “The non obstante clause with which this section begins could only mean that the other sections which impose tax on book profit alone are to be ignored and not that the section which deems a capital receipt as income

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

ITA 121/NAG/2020[2012-13]Status: DisposedITAT Nagpur25 Oct 2024AY 2012-13

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

For Appellant: Shri Abhay AgrawalFor Respondent: Shri Abhay Y. Marathe

section 68 of the Act and the identity, genuineness and creditworthiness were never doubted by the Assessing Officer. The Assessing Officer has alleged that there was no justification for charging huge premium and treated the same as business income of the assessee company. The learned Counsel further submitted that the investment decision was taken by the investors based

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

In the result, appeal filed by the Revenue is dismissed

ITA 237/NAG/2018[2012-13]Status: DisposedITAT Nagpur25 Oct 2024AY 2012-13

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

For Appellant: Shri Abhay AgrawalFor Respondent: Shri Abhay Y. Marathe

section 68 of the Act and the identity, genuineness and creditworthiness were never doubted by the Assessing Officer. The Assessing Officer has alleged that there was no justification for charging huge premium and treated the same as business income of the assessee company. The learned Counsel further submitted that the investment decision was taken by the investors 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

ITA 95/NAG/2018[2012-2013]Status: DisposedITAT Nagpur25 Oct 2024AY 2012-2013

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

For Appellant: Shri Abhay AgrawalFor Respondent: Shri Abhay Y. Marathe

section 68 of the Act and the identity, genuineness and creditworthiness were never doubted by the Assessing Officer. The Assessing Officer has alleged that there was no justification for charging huge premium and treated the same as business income of the assessee company. The learned Counsel further submitted that the investment decision was taken by the investors based

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

In the result, appeal of the Revenue stands dismissed

ITA 411/NAG/2019[2015-16]Status: DisposedITAT Nagpur25 Feb 2025AY 2015-16

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

For Appellant: Shri Manoj G. MoryaniFor Respondent: Shri Sandipkumar Salunke
Section 10(38)Section 68

199 of the Paper Book. The learned assessing officer has not considered the contention of the assessee as well as documents submitted by the assessee on the basis of a massive investigation was carried out by Pr. Director of Income Tax (Investigation), Kolkatta in the cases where the provisions of section 10(38) were being misused by the beneficiaries

VINAY RAMSHARANDAS AGRAWAL,NAGPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX-II, NAGPUR

In the result, appeal by the assessee stands allowed

ITA 110/NAG/2023[2017-18]Status: DisposedITAT Nagpur21 Mar 2025AY 2017-18

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

For Appellant: Shri Kishore P. DewaniFor Respondent: Shri Sandipkumar Salunke
Section 143(3)Section 263

2) Khasara No. 21 having an area of 2.48 H 3) 2.51 H out of total area of 4.21 H in Khasara No. 22 4) 0.19 H out of total area of 2.26 H in Khasara No. 23/1 5) 0.24 H out of total area of 1.38 H in Khasara No. 24/1 6) 0.02 Η out of total area

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

In the result, all the appeals of the assessee are partly allowed and all the appeals of the Revenue are dismissed

ITA 228/NAG/2017[2007-2008]Status: DisposedITAT Nagpur29 Mar 2019AY 2007-2008

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No.369/Nag/2014 िनधा"रण वष" / Assessment Year : 2010–11 Debashu Services Pvt. Ltd., 18, Saptak Plaza, Shivaji Nagar, Nagpur–440010. .......अपीलाथ" / Appellant Pan : Aaacd6682J बनाम / V/S. Dcit, Circle–1, ……""यथ" / Respondent Nagpur. आयकर अपील सं. / Ita Nos.259 To 262/Nag/2017 िनधा"रण वष" / Assessment Years : 2006–07 To 2008–09 & 2012–13 M/S. Debashu Services Pvt. Ltd., 18, Saptak Plaza, Shivaji Nagar, Nagpur–440010. .......अपीलाथ" / Appellant Pan : Aaacd6682J बनाम / V/S. Dcit, Circle–1, ……""यथ" / Respondent Nagpur. आयकर अपील सं. / Ita Nos.227 To 230/Nag/2017

For Appellant: Shri C. J. Thakar, Adv. &For Respondent: Shri R. K. Baral, Jt.CIT

68,802,031 11,260,843 1,12,60,843 72,98,290 36,62,553 2007–08 69,964,424 11,996,510 1,19,96,510 81,04,369 38,92,141 2008–09 73,098,877 11,959,063 1,19,59,063 83,07,079 36,51,984 2010–11 78,199

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

In the result, all the appeals of the assessee are partly allowed and all the appeals of the Revenue are dismissed

ITA 229/NAG/2017[2008-2009]Status: DisposedITAT Nagpur29 Mar 2019AY 2008-2009

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No.369/Nag/2014 िनधा"रण वष" / Assessment Year : 2010–11 Debashu Services Pvt. Ltd., 18, Saptak Plaza, Shivaji Nagar, Nagpur–440010. .......अपीलाथ" / Appellant Pan : Aaacd6682J बनाम / V/S. Dcit, Circle–1, ……""यथ" / Respondent Nagpur. आयकर अपील सं. / Ita Nos.259 To 262/Nag/2017 िनधा"रण वष" / Assessment Years : 2006–07 To 2008–09 & 2012–13 M/S. Debashu Services Pvt. Ltd., 18, Saptak Plaza, Shivaji Nagar, Nagpur–440010. .......अपीलाथ" / Appellant Pan : Aaacd6682J बनाम / V/S. Dcit, Circle–1, ……""यथ" / Respondent Nagpur. आयकर अपील सं. / Ita Nos.227 To 230/Nag/2017

For Appellant: Shri C. J. Thakar, Adv. &For Respondent: Shri R. K. Baral, Jt.CIT

68,802,031 11,260,843 1,12,60,843 72,98,290 36,62,553 2007–08 69,964,424 11,996,510 1,19,96,510 81,04,369 38,92,141 2008–09 73,098,877 11,959,063 1,19,59,063 83,07,079 36,51,984 2010–11 78,199

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

In the result, all the appeals of the assessee are partly allowed and all the appeals of the Revenue are dismissed

ITA 230/NAG/2017[2012-2013]Status: DisposedITAT Nagpur29 Mar 2019AY 2012-2013

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No.369/Nag/2014 िनधा"रण वष" / Assessment Year : 2010–11 Debashu Services Pvt. Ltd., 18, Saptak Plaza, Shivaji Nagar, Nagpur–440010. .......अपीलाथ" / Appellant Pan : Aaacd6682J बनाम / V/S. Dcit, Circle–1, ……""यथ" / Respondent Nagpur. आयकर अपील सं. / Ita Nos.259 To 262/Nag/2017 िनधा"रण वष" / Assessment Years : 2006–07 To 2008–09 & 2012–13 M/S. Debashu Services Pvt. Ltd., 18, Saptak Plaza, Shivaji Nagar, Nagpur–440010. .......अपीलाथ" / Appellant Pan : Aaacd6682J बनाम / V/S. Dcit, Circle–1, ……""यथ" / Respondent Nagpur. आयकर अपील सं. / Ita Nos.227 To 230/Nag/2017

For Appellant: Shri C. J. Thakar, Adv. &For Respondent: Shri R. K. Baral, Jt.CIT

68,802,031 11,260,843 1,12,60,843 72,98,290 36,62,553 2007–08 69,964,424 11,996,510 1,19,96,510 81,04,369 38,92,141 2008–09 73,098,877 11,959,063 1,19,59,063 83,07,079 36,51,984 2010–11 78,199

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

In the result, all the appeals of the assessee are partly allowed and all the appeals of the Revenue are dismissed

ITA 259/NAG/2017[2006-2007]Status: DisposedITAT Nagpur29 Mar 2019AY 2006-2007

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No.369/Nag/2014 िनधा"रण वष" / Assessment Year : 2010–11 Debashu Services Pvt. Ltd., 18, Saptak Plaza, Shivaji Nagar, Nagpur–440010. .......अपीलाथ" / Appellant Pan : Aaacd6682J बनाम / V/S. Dcit, Circle–1, ……""यथ" / Respondent Nagpur. आयकर अपील सं. / Ita Nos.259 To 262/Nag/2017 िनधा"रण वष" / Assessment Years : 2006–07 To 2008–09 & 2012–13 M/S. Debashu Services Pvt. Ltd., 18, Saptak Plaza, Shivaji Nagar, Nagpur–440010. .......अपीलाथ" / Appellant Pan : Aaacd6682J बनाम / V/S. Dcit, Circle–1, ……""यथ" / Respondent Nagpur. आयकर अपील सं. / Ita Nos.227 To 230/Nag/2017

For Appellant: Shri C. J. Thakar, Adv. &For Respondent: Shri R. K. Baral, Jt.CIT

68,802,031 11,260,843 1,12,60,843 72,98,290 36,62,553 2007–08 69,964,424 11,996,510 1,19,96,510 81,04,369 38,92,141 2008–09 73,098,877 11,959,063 1,19,59,063 83,07,079 36,51,984 2010–11 78,199

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

In the result, all the appeals of the assessee are partly allowed and all the appeals of the Revenue are dismissed

ITA 261/NAG/2017[2008-2009]Status: DisposedITAT Nagpur29 Mar 2019AY 2008-2009

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No.369/Nag/2014 िनधा"रण वष" / Assessment Year : 2010–11 Debashu Services Pvt. Ltd., 18, Saptak Plaza, Shivaji Nagar, Nagpur–440010. .......अपीलाथ" / Appellant Pan : Aaacd6682J बनाम / V/S. Dcit, Circle–1, ……""यथ" / Respondent Nagpur. आयकर अपील सं. / Ita Nos.259 To 262/Nag/2017 िनधा"रण वष" / Assessment Years : 2006–07 To 2008–09 & 2012–13 M/S. Debashu Services Pvt. Ltd., 18, Saptak Plaza, Shivaji Nagar, Nagpur–440010. .......अपीलाथ" / Appellant Pan : Aaacd6682J बनाम / V/S. Dcit, Circle–1, ……""यथ" / Respondent Nagpur. आयकर अपील सं. / Ita Nos.227 To 230/Nag/2017

For Appellant: Shri C. J. Thakar, Adv. &For Respondent: Shri R. K. Baral, Jt.CIT

68,802,031 11,260,843 1,12,60,843 72,98,290 36,62,553 2007–08 69,964,424 11,996,510 1,19,96,510 81,04,369 38,92,141 2008–09 73,098,877 11,959,063 1,19,59,063 83,07,079 36,51,984 2010–11 78,199

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

In the result, all the appeals of the assessee are partly allowed and all the appeals of the Revenue are dismissed

ITA 262/NAG/2017[2012-2013]Status: DisposedITAT Nagpur29 Mar 2019AY 2012-2013

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No.369/Nag/2014 िनधा"रण वष" / Assessment Year : 2010–11 Debashu Services Pvt. Ltd., 18, Saptak Plaza, Shivaji Nagar, Nagpur–440010. .......अपीलाथ" / Appellant Pan : Aaacd6682J बनाम / V/S. Dcit, Circle–1, ……""यथ" / Respondent Nagpur. आयकर अपील सं. / Ita Nos.259 To 262/Nag/2017 िनधा"रण वष" / Assessment Years : 2006–07 To 2008–09 & 2012–13 M/S. Debashu Services Pvt. Ltd., 18, Saptak Plaza, Shivaji Nagar, Nagpur–440010. .......अपीलाथ" / Appellant Pan : Aaacd6682J बनाम / V/S. Dcit, Circle–1, ……""यथ" / Respondent Nagpur. आयकर अपील सं. / Ita Nos.227 To 230/Nag/2017

For Appellant: Shri C. J. Thakar, Adv. &For Respondent: Shri R. K. Baral, Jt.CIT

68,802,031 11,260,843 1,12,60,843 72,98,290 36,62,553 2007–08 69,964,424 11,996,510 1,19,96,510 81,04,369 38,92,141 2008–09 73,098,877 11,959,063 1,19,59,063 83,07,079 36,51,984 2010–11 78,199

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

In the result, all the appeals of the assessee are partly allowed and all the appeals of the Revenue are dismissed

ITA 260/NAG/2017[2007-2008]Status: DisposedITAT Nagpur29 Mar 2019AY 2007-2008

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No.369/Nag/2014 िनधा"रण वष" / Assessment Year : 2010–11 Debashu Services Pvt. Ltd., 18, Saptak Plaza, Shivaji Nagar, Nagpur–440010. .......अपीलाथ" / Appellant Pan : Aaacd6682J बनाम / V/S. Dcit, Circle–1, ……""यथ" / Respondent Nagpur. आयकर अपील सं. / Ita Nos.259 To 262/Nag/2017 िनधा"रण वष" / Assessment Years : 2006–07 To 2008–09 & 2012–13 M/S. Debashu Services Pvt. Ltd., 18, Saptak Plaza, Shivaji Nagar, Nagpur–440010. .......अपीलाथ" / Appellant Pan : Aaacd6682J बनाम / V/S. Dcit, Circle–1, ……""यथ" / Respondent Nagpur. आयकर अपील सं. / Ita Nos.227 To 230/Nag/2017

For Appellant: Shri C. J. Thakar, Adv. &For Respondent: Shri R. K. Baral, Jt.CIT

68,802,031 11,260,843 1,12,60,843 72,98,290 36,62,553 2007–08 69,964,424 11,996,510 1,19,96,510 81,04,369 38,92,141 2008–09 73,098,877 11,959,063 1,19,59,063 83,07,079 36,51,984 2010–11 78,199

M/S DEBASHU SERVICES PVT. LTD,,NAGPUR vs. DCIT-CIRCLE-1,, NAGPUR

In the result, all the appeals of the assessee are partly allowed and all the appeals of the Revenue are dismissed

ITA 369/NAG/2014[2010-11]Status: DisposedITAT Nagpur29 Mar 2019AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No.369/Nag/2014 िनधा"रण वष" / Assessment Year : 2010–11 Debashu Services Pvt. Ltd., 18, Saptak Plaza, Shivaji Nagar, Nagpur–440010. .......अपीलाथ" / Appellant Pan : Aaacd6682J बनाम / V/S. Dcit, Circle–1, ……""यथ" / Respondent Nagpur. आयकर अपील सं. / Ita Nos.259 To 262/Nag/2017 िनधा"रण वष" / Assessment Years : 2006–07 To 2008–09 & 2012–13 M/S. Debashu Services Pvt. Ltd., 18, Saptak Plaza, Shivaji Nagar, Nagpur–440010. .......अपीलाथ" / Appellant Pan : Aaacd6682J बनाम / V/S. Dcit, Circle–1, ……""यथ" / Respondent Nagpur. आयकर अपील सं. / Ita Nos.227 To 230/Nag/2017

For Appellant: Shri C. J. Thakar, Adv. &For Respondent: Shri R. K. Baral, Jt.CIT

68,802,031 11,260,843 1,12,60,843 72,98,290 36,62,553 2007–08 69,964,424 11,996,510 1,19,96,510 81,04,369 38,92,141 2008–09 73,098,877 11,959,063 1,19,59,063 83,07,079 36,51,984 2010–11 78,199

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

In the result, all the appeals of the assessee are partly allowed and all the appeals of the Revenue are dismissed

ITA 227/NAG/2017[2006-2007]Status: DisposedITAT Nagpur29 Mar 2019AY 2006-2007

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No.369/Nag/2014 िनधा"रण वष" / Assessment Year : 2010–11 Debashu Services Pvt. Ltd., 18, Saptak Plaza, Shivaji Nagar, Nagpur–440010. .......अपीलाथ" / Appellant Pan : Aaacd6682J बनाम / V/S. Dcit, Circle–1, ……""यथ" / Respondent Nagpur. आयकर अपील सं. / Ita Nos.259 To 262/Nag/2017 िनधा"रण वष" / Assessment Years : 2006–07 To 2008–09 & 2012–13 M/S. Debashu Services Pvt. Ltd., 18, Saptak Plaza, Shivaji Nagar, Nagpur–440010. .......अपीलाथ" / Appellant Pan : Aaacd6682J बनाम / V/S. Dcit, Circle–1, ……""यथ" / Respondent Nagpur. आयकर अपील सं. / Ita Nos.227 To 230/Nag/2017

For Appellant: Shri C. J. Thakar, Adv. &For Respondent: Shri R. K. Baral, Jt.CIT

68,802,031 11,260,843 1,12,60,843 72,98,290 36,62,553 2007–08 69,964,424 11,996,510 1,19,96,510 81,04,369 38,92,141 2008–09 73,098,877 11,959,063 1,19,59,063 83,07,079 36,51,984 2010–11 78,199