DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCEL-1(2, NAGPUR vs. M/S. VIBRANT GLOBAL CAPITAL LTD., MUMBAI

In the result, appeal filed by the Revenue is dismissed

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

19 M/s. Vibrant Global Capital Ltd. ITA no.229/Nag./2022 has explained as to how the credit was given to the assessee. Thus assessee had discharged the onus which was on him as per the requirement of section 68 of the Act. What the Assessing Officer held was that sources of the source were suspect ie., he suspected

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

68,23,460, which comprised of contingent liability to the tune of ` 54,95,265, additional impact of ICDS to the tune of ` 3,43,462 and lesser deduction under section 80P of the Act to the tune of ` 9,84,733. The learned A.R. for the assessee pleaded that this ground was taken by the assesse before

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

68,23,460, which comprised of contingent liability to the tune of ` 54,95,265, additional impact of ICDS to the tune of ` 3,43,462 and lesser deduction under section 80P of the Act to the tune of ` 9,84,733. The learned A.R. for the assessee pleaded that this ground was taken by the assesse before

I.T.O. WARD -3(5), NAGPUR vs. SHRI MUKUNDRAO GOVINDRAO MANKAR, KATOL

In the result, Revenue’s appeal is dismissed

Bench: Shri P.K. Bansal & Shri Amarjit Singh

68 i.e., identity; creditworthiness and genuineness of transactions stand established as confirmation letter from the said LRPL has been filed by the appellant. Considering the above totality of facts the addition made by the Ld. AO of Rs. 6174880/- is hereby deleted.” The assessee being aggrieved by the aforesaid order of the learned Commissioner (Appeals), is in further appeal before

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

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

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

19 of 2015 dated November 27, 2015. Vide paragraph 5.1 running through paragraph 5.3 whereby it is clarified by the CBDT that sub-clause (xviii) to clause (24) of section 2 has been amended to cover subsidies or grants or reimbursements other than such subsidies etc., covered by Explanation 10 to section

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

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

19 of 2015 dated November 27, 2015. Vide paragraph 5.1 running through paragraph 5.3 whereby it is clarified by the CBDT that sub-clause (xviii) to clause (24) of section 2 has been amended to cover subsidies or grants or reimbursements other than such subsidies etc., covered by Explanation 10 to section

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

In the result, appeal of the assessee is allowed

19 SOT 460 (Delhi), it was held that the passbook of bank cannot be treated as books of accounts. Again the Lucknow Bench in case of Kamal Kumar Mishra Vs. ITA 143 ITD 686 held that maintenance of books of assessee is a condition precedent for making addition u/ s 68 and, therefore, provisions of sec. 68 could

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

2. Duke Business P. Ltd. (JPK AABCJ6245N 30,00,000 Trading I Pvt. Ltd.) 13 ITA 178/NAG/ 2017 AXYKNO CAPITAL SERVICES LTD VS DCIT, CIRCLE- 1,NAGPUR 3. AABCH4279G 1,00,00,000 Nakshatra Business P. Ltd. (Hema Trading P. Ltd.). TOTAL 1,50,00,000 During the appellate proceedings, the learned AR has filed detailed submissions and other relevant

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), NAGPUR vs. M/S. RADHA RADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

2. On the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in deleting the addition of Rs. 6,38,21,488/- made by the AO as there had been no rejection of books of account u/s 145 failing to appreciate that by the Finance (No.2) Act, 2014 w.e.f 01.10.2014 the amendment in section

ASSTT.COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(1), NAGPUR vs. M/S RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

2. On the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in deleting the addition of Rs. 6,38,21,488/- made by the AO as there had been no rejection of books of account u/s 145 failing to appreciate that by the Finance (No.2) Act, 2014 w.e.f 01.10.2014 the amendment in section

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), NAGPUR vs. M/S. RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

2. On the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in deleting the addition of Rs. 6,38,21,488/- made by the AO as there had been no rejection of books of account u/s 145 failing to appreciate that by the Finance (No.2) Act, 2014 w.e.f 01.10.2014 the amendment in section

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), NAGPUR vs. M/S. RADHA MADHAV DEVELOPER , NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

2. On the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in deleting the addition of Rs. 6,38,21,488/- made by the AO as there had been no rejection of books of account u/s 145 failing to appreciate that by the Finance (No.2) Act, 2014 w.e.f 01.10.2014 the amendment in section

ASSTT.COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(1), NAGPUR vs. M/S RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

2. On the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in deleting the addition of Rs. 6,38,21,488/- made by the AO as there had been no rejection of books of account u/s 145 failing to appreciate that by the Finance (No.2) Act, 2014 w.e.f 01.10.2014 the amendment in section

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1),NAGPUR, NAGPUR vs. M/S. RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

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

2. On the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in deleting the addition of Rs. 6,38,21,488/- made by the AO as there had been no rejection of books of account u/s 145 failing to appreciate that by the Finance (No.2) Act, 2014 w.e.f 01.10.2014 the amendment in section

VIDHARBHA KONKAN GRAMIN BANK ,NAGPUR vs. INCOME TAX OFFICER WARD 1(5) , NAGPUR

In the result, appeal filed by the assessee for A

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

19,40,81,781, which was processed under section 143(1) of the Income Tax Act, 1961 ("the Act") and selected for scrutiny under CASS. The Assessing Officer made assessment on total income of ` 50,81,436, by making addition of ` 97,06,79,200, as disallowance under the provisions for bad and doubtful debt under section

VIDHARBHA KONKAN GRAMIN BANK ,NAGPUR vs. INCOME TAX OFFICER WARD 1(5) , NAGPUR

In the result, appeal filed by the assessee for A

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

19,40,81,781, which was processed under section 143(1) of the Income Tax Act, 1961 ("the Act") and selected for scrutiny under CASS. The Assessing Officer made assessment on total income of ` 50,81,436, by making addition of ` 97,06,79,200, as disallowance under the provisions for bad and doubtful debt under section

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

In the result, assessee' appeal for A

2) That during the course of survey action in the case of SNJ & Associates at Mangalam Icon, 1 Floor, Ramnagar Square, Nagpur, an excel sheet Annexure B-2, at page no. 4 was impounded. The detailed enquiries in this regard have been made by the Investigation Wing in the survey proceedings, post survey proceedings and by the Assessing Officer during

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

2) That during the course of survey action in the case of SNJ & Associates at\nMangalam Icon, 1 Floor, Ramnagar Square, Nagpur, an excel sheet Annexure\nB-2, at page no. 4 was impounded. The detailed enquiries in this regard have\nbeen made by the Investigation Wing in the survey proceedings, post survey\nproceedings and by the Assessing Officer during