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4 results for “section 68”+ Section 3Aclear

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Key Topics

Section 36(1)(viii)4Section 222Section 80P2Section 36(1)2Section 36(1)(viia)2Section 682Deduction2Disallowance2Addition to Income2

ACIT, AMRAVATI CIRCLE, AMRAVATI vs. JAYANT UMAKANT MAMIDWAR, CHANDRAPUR

In the result, appeal filed by the Revenue is allowed for statistical purposes

ITA 387/NAG/2023[2018-19]Status: DisposedITAT Nagpur18 Sept 2024AY 2018-19

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

For Appellant: Shri Mohammed LakkadshaFor Respondent: Shri Sandeep Salonkhe
Section 143(3)Section 68

3A) & 143(38) of the Income-tax Act, 1961 (“the Act”) by passing order dated 24/03/2021. The Assessing Officer after considering the submissions of the assessee on 24/02/2021, sought the explanation / documents in order to support the increased capital made by the assessee during the year. According to the Assessing Officer, since the assessee could not provide the required documents

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

In the result, appeal filed by the assessee for A

ITA 7/NAG/2019[2014-15]Status: DisposedITAT Nagpur28 Nov 2024AY 2014-15

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

For Appellant: Shri C. NareshFor Respondent: Shri Sandipkumar Salunke
Section 22Section 36(1)Section 36(1)(viia)Section 36(1)(viii)Section 80P

68,07,020/- as deduction of 20% of profit on creation of special reserve u/s 36(1) (viii). The appellant has to create a special reserve equivalent to the deduction allowable as per the said section. The appellant had created the requisite reserve in the subsequent year out of the profits of the current assessment year. A copy

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

In the result, appeal filed by the assessee for A

ITA 8/NAG/2019[2015-2016]Status: DisposedITAT Nagpur28 Nov 2024AY 2015-2016

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

For Appellant: Shri C. NareshFor Respondent: Shri Sandipkumar Salunke
Section 22Section 36(1)Section 36(1)(viia)Section 36(1)(viii)Section 80P

68,07,020/- as deduction of 20% of profit on creation of special reserve u/s 36(1) (viii). The appellant has to create a special reserve equivalent to the deduction allowable as per the said section. The appellant had created the requisite reserve in the subsequent year out of the profits of the current assessment year. A copy

SHARDASHREE ISPAT LTD.,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3, NAGPUR

Appeal is dismissed in above terms

ITA 166/NAG/2021[2012-13]Status: DisposedITAT Nagpur08 Dec 2022AY 2012-13

Bench: Shri S.S. Godara & Shri Dr. Dipak P. Ripote"नधा"रण वष" / Assessment Year : 2012-13

Section 133(6)Section 250Section 68

section 68 unexplained cash credits addition of Rs.45.00 lakhs involving M/s. Muskan Distributors Pvt. Ltd., Shublabh Prints Pvt. 2 Shardashree Ispat Limited Ltd., and Koel Tradecom Pvt. Ltd. for sums of Rs.5.00 lakhs in former and Rs.20.00 lakhs in latter twin instances; respectively. The asessee’s stand all along is that the impugned sums have been routed through banking