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

1) identity of the creditor, (ii) genuineness of the transaction; and (iii) credit-worthiness of the creditor. 14. In Pr. CIT v. Veedhata Towers (P) Ltd. [2018] 403 ITR 415 (Bom), this court has held that assessee is only required to explain the source of the credit. There is no requirement under the law to explain the source

DY. COMMISSIONER OF INCOME TAX- CENTRAL-CIRCLE-2 (1), NAGPUR, NAGPUR vs. JAYMAHAKALI SHIKSHAN SANSTHA, WARDHA

In the result, Revenue’s appeal for A

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

ii). 12. Whenever the exemption under section 11 is to be denied the income of the trust is to be computed as per the specific provisions of section 164(2) provided in the statute, which are reproduced below for ready reference:– ―164(2) In the case of relevant income which is derived from property held under trust wholly

DY. COMMISSIONER OF INCOME TAX- CENTRAL-CIRCLE-2(1), NAGPUR, NAGPUR vs. JAYMAHAKALI SHIKSHAN SANSTHA, WARDHA

In the result, Revenue’s appeal for A

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

ii). 12. Whenever the exemption under section 11 is to be denied the income of the trust is to be computed as per the specific provisions of section 164(2) provided in the statute, which are reproduced below for ready reference:– ―164(2) In the case of relevant income which is derived from property held under trust wholly

DY. COMMISSIONER OF INCOME TAX- CENTRAL-CIRCLE-2(1), NAGPUR, NAGPUR vs. JAYMAHAKALI SHIKSHAN SANSTHA, WARDHA

In the result, Revenue’s appeal for A

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

ii). 12. Whenever the exemption under section 11 is to be denied the income of the trust is to be computed as per the specific provisions of section 164(2) provided in the statute, which are reproduced below for ready reference:– ―164(2) In the case of relevant income which is derived from property held under trust wholly

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

68 of I.T. Act 1961 is unjustified. Reliance on: i) (1986) 159 ITR 0078 (S.C) CIT v/s Orissa Corporation (P) Ltd. (P- 1 to 7) [Vol. – V] (3, 7) ii) ITAT, Indore Bench order in ITA No.361/Ind/2022 in the case of Shri Kanwarjeet Singh Nanda vide order dated 20/11/2023

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

In the result, appeals for the assessment year 2009–10 to 2013–14 are partly allowed

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

32 Maheshwari Coal Benefication & Infrastructure Pvt. Ltd. A.Y. 2009–10 to 2013–14 rendered in Sunil Kumar Sharma (supra) wherein it has been held that satisfaction note is required to be recorded under section 153C for each assessment year and in the impugned proceedings, a consolidated satisfaction note has been recorded for different assessment year by both the Assessing

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

In the result, appeals for the assessment year 2009–10 to 2013–14 are partly allowed

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

32 Maheshwari Coal Benefication & Infrastructure Pvt. Ltd. A.Y. 2009–10 to 2013–14 rendered in Sunil Kumar Sharma (supra) wherein it has been held that satisfaction note is required to be recorded under section 153C for each assessment year and in the impugned proceedings, a consolidated satisfaction note has been recorded for different assessment year by both the Assessing

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

In the result, appeals for the assessment year 2009–10 to 2013–14 are partly allowed

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

32 Maheshwari Coal Benefication & Infrastructure Pvt. Ltd. A.Y. 2009–10 to 2013–14 rendered in Sunil Kumar Sharma (supra) wherein it has been held that satisfaction note is required to be recorded under section 153C for each assessment year and in the impugned proceedings, a consolidated satisfaction note has been recorded for different assessment year by both the Assessing

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

In the result, appeals for the assessment year 2009–10 to 2013–14 are partly allowed

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

32 Maheshwari Coal Benefication & Infrastructure Pvt. Ltd. A.Y. 2009–10 to 2013–14 rendered in Sunil Kumar Sharma (supra) wherein it has been held that satisfaction note is required to be recorded under section 153C for each assessment year and in the impugned proceedings, a consolidated satisfaction note has been recorded for different assessment year by both the Assessing

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

In the result, appeals for the assessment year 2009–10 to 2013–14 are partly allowed

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

32 Maheshwari Coal Benefication & Infrastructure Pvt. Ltd. A.Y. 2009–10 to 2013–14 rendered in Sunil Kumar Sharma (supra) wherein it has been held that satisfaction note is required to be recorded under section 153C for each assessment year and in the impugned proceedings, a consolidated satisfaction note has been recorded for different assessment year by both the Assessing

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

ii] The original assessment order was passed u/s 143(3) r.w.s. 153A of the IT Act on 30.12.2016 after taking approval under Section 153D by Joint Commissioner of Income Tax, Central Range-1, Nagpur. The order u/s 263 was passed on 08.10.2018. Subsequent to such revision order, the impugned assessment orders were passed on 26.12.2019. We are unable

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

ii] The original assessment order was passed u/s 143(3) r.w.s. 153A of the IT Act on 30.12.2016 after taking approval under Section 153D by Joint Commissioner of Income Tax, Central Range-1, Nagpur. The order u/s 263 was passed on 08.10.2018. Subsequent to such revision order, the impugned assessment orders were passed on 26.12.2019. We are unable

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

ii] The original assessment order was passed u/s 143(3) r.w.s. 153A of the IT Act on 30.12.2016 after taking approval under Section 153D by Joint Commissioner of Income Tax, Central Range-1, Nagpur. The order u/s 263 was passed on 08.10.2018. Subsequent to such revision order, the impugned assessment orders were passed on 26.12.2019. We are unable

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

ii] The original assessment order was passed u/s 143(3) r.w.s. 153A of the IT Act on 30.12.2016 after taking approval under Section 153D by Joint Commissioner of Income Tax, Central Range-1, Nagpur. The order u/s 263 was passed on 08.10.2018. Subsequent to such revision order, the impugned assessment orders were passed on 26.12.2019. We are unable

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

ii] The original assessment order was passed u/s 143(3) r.w.s. 153A of the IT Act on 30.12.2016 after taking approval under Section 153D by Joint Commissioner of Income Tax, Central Range-1, Nagpur. The order u/s 263 was passed on 08.10.2018. Subsequent to such revision order, the impugned assessment orders were passed on 26.12.2019. We are unable

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

ii] The original assessment order was passed u/s 143(3) r.w.s. 153A of the IT Act on 30.12.2016 after taking approval under Section 153D by Joint Commissioner of Income Tax, Central Range-1, Nagpur. The order u/s 263 was passed on 08.10.2018. Subsequent to such revision order, the impugned assessment orders were passed on 26.12.2019. We are unable

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

In the result, appeal by the assessee for A

32,51,842/- remain unexplained and there is escapement of\nincome in absence of return of income filed. Thus income from above\ntransaction has not been offered for tax and due tax has not been paid. An\nopportunity of being heard as per provision of section 148A(b) of the Income\nTax Act, 1961 was provided to the assessee

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

32,51,842/- remain unexplained and there is escapement of income in absence of return of income filed. Thus income from above transaction has not been offered for tax and due tax has not been paid. An opportunity of being heard as per provision of section 148A(b) of the Income Tax Act, 1961 was provided to the assessee