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

In the result, assessee' appeal for A

3) r/w section 153A dated 26/12/2018, was passed assessing the total income at ₹ 83,04,726. The addition of 72,68

INCOME TAX OFFICER, WARD 5(3),, NAGPUR vs. M/S. 21ST CENTURY INFRASTRUCTURE (INDIA) PVT. LTD., NAGPUR

In the result, the appeal of the Department is dismissed

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am

section 68 of the Act has held that where the Revenue urges that the amount of share application money has been received from bogus shareholders then it is for the Income tax Officer to proceed by reopening the assessment of such shareholders and assessing them to tax in accordance with law. It 10 ITA207/NAG/2017 ITO, WARD 5(3

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

section 68 of the Income Tax Act, 1961 (“Act”). The facts and grounds in both the appeals being similar in nature, the appeals are being disposed off by this common order for the sake of convenience. The grounds raised by the assessee in both the appeals are as under:- 2 ITA 178/NAG/ 2017 AXYKNO CAPITAL SERVICES LTD VS DCIT

UMESH SADASHIV THAKRE ,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(1), NAGPUR

3 consecutive years) and for issuing notice under section 153C for the assessment year 2009-10 to 2011-12, he has not cared that in the absence of this jurisdictional fact, the whole proceedings for the assessment year 2009-10 to 2011-12 would be vitiated and to be held as invalid, bad in law, and therefore, there would

ATUL MANOHARRAO YAMSANWAR,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE 2(1), NAGPUR

3 consecutive years) and for issuing notice under section 153C for the assessment year 2009-10 to 2011-12, he has not cared that in the absence of this jurisdictional fact, the whole proceedings for the assessment year 2009-10 to 2011-12 would be vitiated and to be held as invalid, bad in law, and therefore, there would

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

3) r/w section 153A dated\n26/12/2018, was passed assessing the total income at ₹ 83,04,726. The\naddition of 72,68

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

In the result, appeal of the assessee is allowed

section 68 was called for 3. Ravinder Kumar v. ITO [2020] 118 taxmann.com 166 (Delhi) : Held: INCOME TAX : Where

UMESH SADASHIV THAKRE ,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(1), NAGPUR

3 consecutive years) and for issuing notice under section 153C for the assessment year 2009-10 to 2011-12, he has not cared that in the absence of this jurisdictional fact, the whole proceedings for the assessment year 2009-10 to 2011-12 would be vitiated and to be held as invalid, bad in law, and therefore, there would

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

3) r/w section 153A dated\n26/12/2018, was passed assessing the total income at ₹ 83,04,726. The\naddition of 72,68

ATUL MANOHARRAO YAMSANWAR,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE 2(1), NAGPUR

68, which is ignored by the Addl.CIT while granting such\nmechanical approval. He has not even cared that in the absence of required\nsatisfaction note“ for each year separately, entire assessment under section\n153C would be vitiated.\n60. In the present case before us, we noted that the Addl.CIT did not mention\nanything in the approval order passed under

M/S MAHESHWARI COAL BENEFICATION & INFRASTRUCTURE P LTD,BILASPUR vs. ACIT CENTRAL CIRCLE 1(1), NAGPUR

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

68,490 5. The issue involved in ground no.3, 4, 5 and 6, in the assessment year 2014–15, relates to the addition made on account of unexplained cash credit 3 Maheshwari Coal Beneficatgion & Infrastructure Pvt. Ltd. A.Y. 2014–15 to 2020–21 under section

M/S MAHESHWARI COAL BENEFICATION & INFRASTRUCTURE P LTD.,BILASPUR vs. ACIT CENTRAL CIRCLE 1(1), NAGPUR

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

68,490 5. The issue involved in ground no.3, 4, 5 and 6, in the assessment year 2014–15, relates to the addition made on account of unexplained cash credit 3 Maheshwari Coal Beneficatgion & Infrastructure Pvt. Ltd. A.Y. 2014–15 to 2020–21 under section

M/S MAHESHWARI COAL BENEFICATION & INFRASTRUCTURE P LTD.,BILASPUR vs. ACIT CENTRAL CIRCLE 1(1), NAGPUR

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

68,490 5. The issue involved in ground no.3, 4, 5 and 6, in the assessment year 2014–15, relates to the addition made on account of unexplained cash credit 3 Maheshwari Coal Beneficatgion & Infrastructure Pvt. Ltd. A.Y. 2014–15 to 2020–21 under section

M/S MAHESHWARI COAL BENEFICATION & INFRASTRUCTURE P LTD.,BILASPUR vs. ACIT CENTRAL CIRCLE 1(1), NAGPUR

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

68,490 5. The issue involved in ground no.3, 4, 5 and 6, in the assessment year 2014–15, relates to the addition made on account of unexplained cash credit 3 Maheshwari Coal Beneficatgion & Infrastructure Pvt. Ltd. A.Y. 2014–15 to 2020–21 under section

M/S MAHESHWARI COAL BENEFICATION & INFRASTRUCTURE P LTD.,BILASPUR vs. ACIT CENTRAL CIRCLE 1(1), NAGPUR

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

68,490 5. The issue involved in ground no.3, 4, 5 and 6, in the assessment year 2014–15, relates to the addition made on account of unexplained cash credit 3 Maheshwari Coal Beneficatgion & Infrastructure Pvt. Ltd. A.Y. 2014–15 to 2020–21 under section

M/S MAHESHWARI COAL BENEFICATION & INFRASTRUCTURE P. LTD,BILASPUR vs. ACIT CENTRAL CIRCLE-1(1), NAGPUR

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

68,490 5. The issue involved in ground no.3, 4, 5 and 6, in the assessment year 2014–15, relates to the addition made on account of unexplained cash credit 3 Maheshwari Coal Beneficatgion & Infrastructure Pvt. Ltd. A.Y. 2014–15 to 2020–21 under section

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

3) r/w section 153A dated\n26/12/2018, was passed assessing the total income at ₹ 83,04,726. The\naddition of ₹ 72,68

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

In the result, assessee' appeal for A

3) r/w section 153A dated\n26/12/2018, was passed assessing the total income at ₹ 83,04,726. The\naddition of 72,68