SHRI PRAKASH JIWANDAS WANJARI,NAGPUR vs. JOINT COMMISSIONER OF INCOME TAX, NAGPUR

In the result, we are of the considered view that the case on hand does not warrant levy of penalty under Section 271D of the Act

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

273, no penalty shall be imposable on the person or the assessee, as the case may be, for any failure referred to in the said provisions if he proves that there was reasonable cause for the said failure. From the above reading of provisions of Section 273B, it is clear that the section itself says that where

SUMIT PRAKASHRAO FULZELE,CHANDRAPUR vs. ITO WARD 2 , CHANDRAPUR

In the result, appeal filed by the assessee is allowed

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

Section 68 will not be applicable, yet cash deposit in bank should be explained by assessee u/s 69/69B - unless any clinching evidence, shows nature and source of money deposited in the bank account, same should be added as his unexplained income - yes 5. Praveen Garg vs. ITO 132 taxmann.com 142 (Delhi-ITAT) (2021) - Appellant failed to explain the source

HINGANGHAT NAGRI SAHAKARI PAT SANSTHA,HINGANGHAT vs. INCOME TAX WARD-1, WARDHA

In the result, appeal by the assessee for A

273 of 2015] is whether\nthe Society-assessee can claim a deduction when no return was filed..\n5. Section 80P comes under sub-chapter 'C' \"Deduction in respect of\ncertain incomes". A claim for such deduction has to be made in the return of\nincome inter alia of the deduction permissible under Section 80P for reason

HINGANGHAT NAGRI SAHAKARI PAT SANSTHA,HINGANGHAT vs. INCOME TAX WARD-1, WARDHA

In the result, appeal by the assessee for A

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

273 of 2015] is whether the Society-assessee can claim a deduction when no return was filed.. 5. ……….. Section 80P comes under sub-chapter 'C' "Deduction in respect of certain incomes". A claim for such deduction has to be made in the return of income inter alia of the deduction permissible under Section 80P for reason

HINGANGHAT NAGRI SAHAKARI PAT SANSTHA,HINGANGHAT vs. INCOME TAX OFFICER WARD-1, WARDHA

In the result, appeal by the assessee for A

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

273 of 2015] is whether the Society-assessee can claim a deduction when no return was filed.. 5. ……….. Section 80P comes under sub-chapter 'C' "Deduction in respect of certain incomes". A claim for such deduction has to be made in the return of income inter alia of the deduction permissible under Section 80P for reason

HINGANGHAT NAGRI SAHAKARI PAT SANSTHA,HINGANGHAT vs. INCOME TAX OFFICER WARD-1, WARDHA

In the result, appeal by the assessee for A

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

273 of 2015] is whether the Society-assessee can claim a deduction when no return was filed.. 5. ……….. Section 80P comes under sub-chapter 'C' "Deduction in respect of certain incomes". A claim for such deduction has to be made in the return of income inter alia of the deduction permissible under Section 80P for reason

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

273 held that the AO has the power to rework the book profit if the profits are computed not in accordance with Part II and Part III of Schedule VI to the Companies Act, 1956. The Hon'ble Supreme Court in their subsequent decision rendered in the case of Indo Rama Synthetics (1) Ltd. v. CIT [2011] 9 taxmann.com 25/196

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

273 held that the AO has the power to rework the book profit if the profits are computed not in accordance with Part II and Part III of Schedule VI to the Companies Act, 1956. The Hon'ble Supreme Court in their subsequent decision rendered in the case of Indo Rama Synthetics (1) Ltd. v. CIT [2011] 9 taxmann.com 25/196

M/S VATSALYA BUILDERS ,NAGPUR vs. ASSISTANT COMISSIONER OF INCOME TAX CENTARL CIRCLE 1(2), NAGPUR

In the result, the appeal filed by the assessee in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita Nos.85 To 87 & 210/Nag/2018 िनधा"रण वष" / Assessment Years : 2011-12 To 2014-15 M/S. Vatsalya Builders & Vs. Acit, Central Circle- Developers Pvt. Ltd., 1(2), Nagpur. 202, Ganesh Chambers, Dhantoli, Nagpur- 440012. Pan : Aabcv6745K Appellant Respondent Assessee By : Shri Mukesh Agrawal Revenue By : Shri Kailash G. Kanojiya Date Of Hearing : 17.10.2023 Date Of Pronouncement : 31.10.2023 आदेश / Order Per Inturi Rama Rao, Am : These Are The Appeals Filed By The Assessee Directed Against The Different Orders Of Ld. Commissioner Of Income Tax (Appeals)- 3, Nagpur [‘The Cit(A)’] Dated 26.02.2018 & 22.06.2018 For The Assessment Years 2011-12 To 2014-15 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In All The Above Captioned Four Appeals Of The Assessee, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal In Ita No.85/Nag/2018 For The Assessment Year 2011-12 Are Stated Herein.

68 to 69 of the Act. 8. On the other hand, ld. CIT-DR placing reliance on the orders of the lower authorities submits that the assessment was completed under the provisions of section 143(3) r.w.s. 153A and all the assessments are unabated assessments. Therefore, he submits that the income assessed under the provisions pursuant to the return

M/S VATSALYA BUILDERS & DEVELOPMENT PVT LTD ,NAGPUR vs. ACIT CENTRAL CIRCLE1(2), NAGPUR

In the result, the appeal filed by the assessee in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita Nos.85 To 87 & 210/Nag/2018 िनधा"रण वष" / Assessment Years : 2011-12 To 2014-15 M/S. Vatsalya Builders & Vs. Acit, Central Circle- Developers Pvt. Ltd., 1(2), Nagpur. 202, Ganesh Chambers, Dhantoli, Nagpur- 440012. Pan : Aabcv6745K Appellant Respondent Assessee By : Shri Mukesh Agrawal Revenue By : Shri Kailash G. Kanojiya Date Of Hearing : 17.10.2023 Date Of Pronouncement : 31.10.2023 आदेश / Order Per Bench : These Are The Appeals Filed By The Assessee Directed Against The Different Orders Of Ld. Commissioner Of Income Tax (Appeals)- 3, Nagpur [‘The Cit(A)’] Dated 26.02.2018 & 22.06.2018 For The Assessment Years 2011-12 To 2014-15 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In All The Above Captioned Four Appeals Of The Assessee, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal In Ita No.85/Nag/2018 For The Assessment Year 2011-12 Are Stated Herein.

68 to 69 of the Act. 8. On the other hand, ld. CIT-DR placing reliance on the orders of the lower authorities submits that the assessment was completed under the provisions of section 143(3) r.w.s. 153A and all the assessments are unabated assessments. Therefore, he submits that the income assessed under the provisions pursuant to the return

M/S VATSALYA BUILDERS & DEVELOPMENT PVT LTD ,NAGPUR vs. ACIT CENTRAL CIRCLE1(2), NAGPUR

In the result, the appeal filed by the assessee in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita Nos.85 To 87 & 210/Nag/2018 िनधा"रण वष" / Assessment Years : 2011-12 To 2014-15 M/S. Vatsalya Builders & Vs. Acit, Central Circle- Developers Pvt. Ltd., 1(2), Nagpur. 202, Ganesh Chambers, Dhantoli, Nagpur- 440012. Pan : Aabcv6745K Appellant Respondent Assessee By : Shri Mukesh Agrawal Revenue By : Shri Kailash G. Kanojiya Date Of Hearing : 17.10.2023 Date Of Pronouncement : 31.10.2023 आदेश / Order Per Inturi Rama Rao, Am : These Are The Appeals Filed By The Assessee Directed Against The Different Orders Of Ld. Commissioner Of Income Tax (Appeals)- 3, Nagpur [‘The Cit(A)’] Dated 26.02.2018 & 22.06.2018 For The Assessment Years 2011-12 To 2014-15 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In All The Above Captioned Four Appeals Of The Assessee, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal In Ita No.85/Nag/2018 For The Assessment Year 2011-12 Are Stated Herein.

68 to 69 of the Act. 8. On the other hand, ld. CIT-DR placing reliance on the orders of the lower authorities submits that the assessment was completed under the provisions of section 143(3) r.w.s. 153A and all the assessments are unabated assessments. Therefore, he submits that the income assessed under the provisions pursuant to the return

M/S VATSALYA BUILDERS & DEVELOPMENT PVT LTD ,NAGPUR vs. ACIT CENTRAL CIRCLE1(2), NAGPUR

In the result, the appeal filed by the assessee in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita Nos.85 To 87 & 210/Nag/2018 िनधा"रण वष" / Assessment Years : 2011-12 To 2014-15 M/S. Vatsalya Builders & Vs. Acit, Central Circle- Developers Pvt. Ltd., 1(2), Nagpur. 202, Ganesh Chambers, Dhantoli, Nagpur- 440012. Pan : Aabcv6745K Appellant Respondent Assessee By : Shri Mukesh Agrawal Revenue By : Shri Kailash G. Kanojiya Date Of Hearing : 17.10.2023 Date Of Pronouncement : 31.10.2023 आदेश / Order Per Inturi Rama Rao, Am : These Are The Appeals Filed By The Assessee Directed Against The Different Orders Of Ld. Commissioner Of Income Tax (Appeals)- 3, Nagpur [‘The Cit(A)’] Dated 26.02.2018 & 22.06.2018 For The Assessment Years 2011-12 To 2014-15 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In All The Above Captioned Four Appeals Of The Assessee, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal In Ita No.85/Nag/2018 For The Assessment Year 2011-12 Are Stated Herein.

68 to 69 of the Act. 8. On the other hand, ld. CIT-DR placing reliance on the orders of the lower authorities submits that the assessment was completed under the provisions of section 143(3) r.w.s. 153A and all the assessments are unabated assessments. Therefore, he submits that the income assessed under the provisions pursuant to the return

LATITUDE INFRAVENTURES,NAGPUR vs. PCIT,NAGPUR-1, NAGPUR

In the result, appeal filed by the assessee for assessment year 2017–18

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

section 263 of the Act deserves to be quashed. The assessee has also filed a gist of submissions which are reproduced below:– “1. Enquiry made by the learned AO 6 Latitude Infraventures ITA no.349 & 350/Nag./2024 A.Y. 2016–17 & 2017–18 1.1 During assessment proceedings pursuant to reopening of assessment u/s 148/147, the learned AO had issued show cause

LATITUDE INFRAVENTURES,NAGPUR vs. PCIT,NAGPUR-1, NAGPUR

In the result, appeal filed by the assessee for assessment year 2017–18

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

section 263 of the Act deserves to be quashed. The assessee has also filed a gist of submissions which are reproduced below:– “1. Enquiry made by the learned AO 6 Latitude Infraventures ITA no.349 & 350/Nag./2024 A.Y. 2016–17 & 2017–18 1.1 During assessment proceedings pursuant to reopening of assessment u/s 148/147, the learned AO had issued show cause

HIGH RISE CONSTRUCTION,NAGPUR vs. I.T.O. WARD 1(5), NAGPUR

In the result this appeal by the assessee is allowed for statistical purposes

Bench: Shri Shamim Yahya.

section 80IB(10)(f) of the Act. Learned counsel submitted that the said provision was not applicable to the assessee. In this regard learned counsel submitted the following in the form of paper book in support of his contentions : Copy of detailed submissions filed before AO PB Page 1 to 5. Copy of Audit Report Form 10CCB PB Page

NIRMALKUMAR AGRAWAL HUF,NAGPUR vs. INCOME TAX OFFICER, WARD-2, BHANDARA

In the result, assessee’s appeal stands allowed

Bench: Shri Narender Kumar Choudhry & Shri K.M. Roy, Accountant, Member

68 of the Act. However, on the assessee's response that the loan was Rs. 20 lakh lakhs without any inquiry or verification the AO concluded that the transaction was of only Rs. 20 lakhs adding that the investigation wing due to oversight while preparing report, included the amount of Rs. 20 lakhs given to Vijay Kumar Goyal