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

In the result, appeal of the assessee is allowed

22. Section 49 of the Registration Act expressly states admissibility of unregistered documents in evidence for collateral purposes. The word 'collateral' signifies something beyond or parallel. According to Law Lexicon it means "that which is by the side, and not the direct line; that which is additional to or beyond a thing" (Am it Khanna. Vs Suchi Khanna

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

22. It is observed that the assessee has claimed an interest expenses of ` 74,32,292, over and above the interest claimed under section 36(1)(iii) of the Act. It was explained before the authorities below as well as before us that the said interest is allowable under section 57, as the borrowed funds have been transferred

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

Section 68 of the Act, for any cash credit appearing in the books of assessee, the assessee is required to prove the following- (a) Identity of the creditor (b) Genuineness of the transaction (c) Credit-worthiness of the party (i) In this case, the assessee has already proved the identity of the share applicant by furnishing their PAN, copy

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

Section 68 of the Act, for any cash credit appearing in the books of assessee, the assessee is required to prove the following- (a) Identity of the creditor (b) Genuineness of the transaction (c) Credit-worthiness of the party (i) In this case, the assessee has already proved the identity of the share applicant by furnishing their PAN, copy

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

68,07,020, as disallowance on account of deduction under section 36(1)(viii) of the Act and addition of ` 2,77,22

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

68,07,020, as disallowance on account of deduction under section 36(1)(viii) of the Act and addition of ` 2,77,22

ACIT, CIRCLE-4, NAGPUR vs. SHRI VINOD BALBHADRA GOENKA,, NAGPUR

In the result, appeal of the Revenue is dismissed

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year: 2014-15 The Acit Vs. Shri Vinod Balbhadra Goenka Circle-4 247, Nandanvan Layout Nagpur Nagpur Pan No.:Aanpg 6841 N Appellant Respondent Revenue By :Shri Piyush Kolhe (Cit-Dr) Assessee By: Shri K.P. Dewani, Adv Date Of Hearing: 28/04/2022 Date Of Pronouncement: 28 /06 /2022 Order Per: Sandeep Gosain, J.M. This Is An Appeal By Revenue Against Order Of Learned Commissioner Of Income Tax (Appeals)-4, Nagpur Dated 30/03/2017 In Appeal No.Cit(A)- 4/198/16-17 For The Assessment Year 2014-15. The Grounds Raised By The Revenue In This Appeal Are As Under:

section 68 was not proper.” These judgements make it amply clear that the receipts that have already been shown by the assessee as income in the books of accounts/original returns and returns filed u/s 153A also cannot be treated as unexplained cash credits u/s 68. In the circumstances of the case and in view of aforecited judgements. I hold

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

68 of the Act which is illegal and the addition so made deserves to be deleted in Interest of justice 8.2 The appellant further submitted that the Lender companies pertaining to AY 2014-15 had the following financials: Anubhav Vinimay Blue View Tradecom Raj Laxmi Decision Pvt. Ltd. Pvt. Ltd. Pvt. Ltd. Share Capital 90,48,000/- 47,22

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

68 of the Act which is illegal and the addition so made deserves to be deleted in Interest of justice 8.2 The appellant further submitted that the Lender companies pertaining to AY 2014-15 had the following financials: Anubhav Vinimay Blue View Tradecom Raj Laxmi Decision Pvt. Ltd. Pvt. Ltd. Pvt. Ltd. Share Capital 90,48,000/- 47,22

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

68 of the Act which is illegal and the addition so made deserves to be deleted in Interest of justice 8.2 The appellant further submitted that the Lender companies pertaining to AY 2014-15 had the following financials: Anubhav Vinimay Blue View Tradecom Raj Laxmi Decision Pvt. Ltd. Pvt. Ltd. Pvt. Ltd. Share Capital 90,48,000/- 47,22

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

68 of the Act which is illegal and the addition so made deserves to be deleted in Interest of justice 8.2 The appellant further submitted that the Lender companies pertaining to AY 2014-15 had the following financials: Anubhav Vinimay Blue View Tradecom Raj Laxmi Decision Pvt. Ltd. Pvt. Ltd. Pvt. Ltd. Share Capital 90,48,000/- 47,22

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

68 of the Act which is illegal and the addition so made deserves to be deleted in Interest of justice 8.2 The appellant further submitted that the Lender companies pertaining to AY 2014-15 had the following financials: Anubhav Vinimay Blue View Tradecom Raj Laxmi Decision Pvt. Ltd. Pvt. Ltd. Pvt. Ltd. Share Capital 90,48,000/- 47,22

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

68 of the Act which is illegal and the addition so made deserves to be deleted in Interest of justice 8.2 The appellant further submitted that the Lender companies pertaining to AY 2014-15 had the following financials: Anubhav Vinimay Blue View Tradecom Raj Laxmi Decision Pvt. Ltd. Pvt. Ltd. Pvt. Ltd. Share Capital 90,48,000/- 47,22

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-4, NAGPUR, NAGPUR vs. SHIKHA INDRAKUMAR AGRAWAL, NAGPUR

In the result, appeal by the assessee stands allowed

Bench: Shri Pawan Singh & Shri Khettra Mohan Roy

22 deleting the additions made by the Ld. AO u/s. 68 & 69C and allowing exemption under section 10(38) of the Act. 12. In the result

NIKITA SHANKARLAL TANWANI,CHHINDWARA vs. ASSISTANT COMMISSIONER OF INCOME TAX, NAGPUR

In the result, assessee’s appeal is partly allowed

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year: 2018-19 Ms. Nikita Shankar Lal Tanwani Vs. The Acit Near Shankar Mandir, Shankar Central Circle 2(1) Nagar, Pandhuna Pandhurna Nagpur Chhindwara – 480 334 (M.P.) Pan No.:Borpt 4644 F Appellant Respondent Assessee By: Shri Manoj G. Moryani, Adv. & Shri Bhavesh Moryani, Adv Revenue By :Shri Piyush Kolhe (Cit-Dr) Date Of Hearing: 28/04/2022 Date Of Pronouncement: 8 /62022 Order Per: Sandeep Gosain, J.M. The Captioned Appeal Has Been Filed By The Assessee Challenging The Impugned Order Dated 8Th October 2021, Passed By The Commissioner Of Income Tax (Appeals)–3, Nagpur, [In Short “The Learned Cit(A)”] Under Section 250 Of The Income Tax Act, 1961 (In Short "The Act") For The Assessment Year 2018-19. The Present Appeal Has Been Filed On The Following Grounds:- 2. “1. The Commissioner Of Income Tax (Appeals)-3, Nagpur Erred In Confirming Addition, Therefore Order Passed Is Illegal, Invalid & Bad In Law.

section 68 of the Act. Therefore, on this account itself, the impugned addition deserves to be deleted. I hold so. The learned Departmental Representative relied upon the order of the 22

ANKIT SHANKARLAL TANWANI,CHHINDWARA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), NAGPUR

In the result, assessee’s appeal is partly allowed

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year: 2018-19 Shri Ankit Shankar Lal Tanwani Vs. The Acit Near Shankar Mandir, Shankar Central Circle 2(1) Nagar, Pandhuna Pandhurna Nagpur Chhindwara – 480 334 (M.P.) Pan No.:Biapt 4756 R Appellant Respondent Assessee By: Shri Manoj G. Moryani, Adv. & Shri Bhavesh Moryani, Adv Revenue By :Shri Piyush Kolhe (Cit-Dr) Date Of Hearing: 28/04/2022 Date Of Pronouncement: 8 / 6 /2022 Order Per: Sandeep Gosain, J.M. The Captioned Appeal Has Been Filed By The Assessee Challenging The Impugned Order Dated 8Th October 2021, Passed By The Commissioner Of Income Tax (Appeals)–3, Nagpur, [In Short “The Learned Cit(A)”] Under Section 250 Of The Income Tax Act, 1961 (In Short "The Act") For The Assessment Year 2018-19. The Present Appeal Has Been Filed On The Following Grounds:- 2. “1. The Commissioner Of Income Tax (Appeals)-3, Nagpur Erred In Confirming Addition, Therefore Order Passed Is Illegal, Invalid & Bad In Law.

section 68 of the Act. Therefore, on this account itself, the impugned addition deserves to be deleted. I hold so. 21. The leaned Departmental Representative relied upon the order of the authorities below on not submitted any reason for not considering of the fact. 22

DY COMMISSIONER OF INOCME TAX , CIRCLE -2, NAGPUR vs. M/S N KUMAR CONSTRUCTION CO .PVT.LTD , NAGPUR

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

section 68 of the Act are reproduced herein below:– ―Decision: 6.0 I have considered the submissions made by the counsel for the appellant and perused the documents filed in the paper book. I have also considered the facts and circumstances of the case and case laws relied upon by the appellant. The facts on record show that the appellant

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

22,50,000 being unexplained money under section 69A of the Act; vii) Ground no.7, – Addition made of ` 26,00,000, being unexplained money under section 69A of the Act; and viii) Ground no.8, – Addition made of ` 10,00,000, being unexplained expenditure under section 69C of the Act. 6. Before us, the learned Departmental Representative