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299 results for “section 68”+ Section 5clear

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Key Topics

Section 143(3)105 Section 153A84 Section 6864 Addition to Income64 Section 69A45 Section 80I35 Section 69C32 Section 44A32 Section 25027 Disallowance

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

ITA 229/NAG/2022[2014-15]Status: DisposedITAT Nagpur25 Oct 2024AY 2014-15

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

For Appellant: Shri Kishore P. DewaniFor Respondent: Shri Sandipkumar Salunke

Section 143(3)Section 14ASection 68

section 68 of the Act in Para–5 to 9 as under:– “5. Question (B) and (C) require consideration

ITO, WARD- 1)1), NAGPUR vs. AXYKNO ENTERPRISES PVT. LTD., NAGPUR

In the result, appeal filed by the Revenue is dismissed

Showing 1–20 of 299 · Page 1 of 15

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ITA 47/NAG/2019[2012-13]Status: DisposedITAT Nagpur02 Sept 2024AY 2012-13

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

For Appellant: Shri Kapil Hirani a/wFor Respondent: Shri Kailash C. Kanojiya

Section 132(4)Section 143(3)Section 263Section 68

section 68 of the Act. The assessee had during the year received share application money amounting to ` 1,58,50,000, from the following companies:– ` 16,50,000 i) M/s Viraj Mercantile Pvt. Ltd. ` 37,00,000 ii) M/s Aatharva Business Pvt. Ltd. iii) M/s Aditya Fashions Pvt. Ltd. ` 15,00,000 M/s Kavya Shares and Securities

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

ITA 207/NAG/2017[2012-13]Status: DisposedITAT Nagpur28 Jun 2022AY 2012-13

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

For Appellant: Shri MahaveerAtal, CAFor Respondent: ShriPiyushKohle, CIT-DR

Section 133(6)Section 143(1)Section 143(2)Section 143(3)Section 56

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

AXYKNO CAPITAL SERVICES LTD,,NAGPUR vs. DCIT CIRCLE 1, NAGPUR

In the result, both the appeals of the assessee are allowed

ITA 178/NAG/2017[2009-10]Status: DisposedITAT Nagpur28 Jun 2022AY 2009-10

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

For Appellant: Shri Kapil Hirani, AdvFor Respondent: Shri Vitthal M. Bhosale (JCIT-DR)

Section 132(4)Section 147Section 148Section 68

5 ITA 178/NAG/ 2017 AXYKNO CAPITAL SERVICES LTD VS DCIT, CIRCLE- 1,NAGPUR any opportunity to the Appellant to cross examine Shri Praveen Kumar Jain, by solely relying on the statement of Shri Praveen Kumar Jain proceeded to complete the assessment by making an addition of Rs. 1,00,00,000 and Rs. 50,00,000 respectively under section

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

In the result, appeal of the assessee is allowed

ITA 207/NAG/2018[2010-11]Status: DisposedITAT Nagpur15 Jul 2022AY 2010-11

For Appellant: Dr. Milind Bhusare, AdvocateFor Respondent: Shri Vitthal M. Bhosale, Jt. CIT

Section 143(3)Section 147Section 148Section 234BSection 68

section 68 should be quashed. 5. Further, Ld AO submitted to our attention the gist of the Assessee’s submission

RAVINDRA MADANLAL KHANDELWAL,AKOLA vs. DCIT/ACIT CIRCLE , AKOLA

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

ITA 375/NAG/2024[2018-19]Status: DisposedITAT Nagpur18 Nov 2024AY 2018-19

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

For Appellant: Shri Mahavir AtalFor Respondent: Shri Sandipkumar Salunke

Section 142(1)Section 143Section 144BSection 68

5,20,84,000, under section 68 of the Act and added the same to the total income of the assessee

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

In the result, assessee' appeal for A

ITA 55/NAG/2022[2012-13]Status: DisposedITAT Nagpur25 Feb 2025AY 2012-13

Section 132Section 133ASection 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

section 68 of the Act. Accordingly, the Hon'ble High Court dismissed the appeal of the Department. The relevant findings of the Hon'ble High Court are as follows:- '5

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

ITA 57/NAG/2022[2014-15]Status: DisposedITAT Nagpur25 Feb 2025AY 2014-15

For Appellant: Shri Rajesh LoyaFor Respondent: Shri Sandipkumar Salunke

Section 132Section 133ASection 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

section 68 of the Act. Accordingly, the\nHon'ble High Court dismissed the appeal of the Department. The relevant\nfindings of the Hon'ble High Court are as follows:-\n'5

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

ITA 385/NAG/2014[2010-11]Status: DisposedITAT Nagpur08 Jan 2025AY 2010-11

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

For Appellant: Shri Kishore P. DewaniFor Respondent: Shri Sandipkumar Salunke

Section 132(1)Section 153C

section 68 of the Act. The learned D.R. thus submitted that the relief granted by the learned CIT(A) be reversed and the order passed by the Assessing Officer be restored. 5

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

ITA 59/NAG/2022[2017-18]Status: DisposedITAT Nagpur25 Feb 2025AY 2017-18

For Appellant: Shri Rajesh LoyaFor Respondent: Shri Sandipkumar Salunke

Section 132Section 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

section 68 of the Act. Accordingly, the\nHon'ble High Court dismissed the appeal of the Department. The relevant\nfindings of the Hon'ble High Court are as follows:-\n'5

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

ITA 386/NAG/2014[2011-12]Status: DisposedITAT Nagpur08 Jan 2025AY 2011-12

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

For Appellant: Shri Kishore P. DewaniFor Respondent: Shri Sandipkumar Salunke

section 68 of the Act, is not applicable. The Hon’ble Bombay High Court in Gagandeep Infrastructure Pvt. Ltd. vide judgment dated 20/03/2017, at Para–(e) at Page–5

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

In the result, appeal by the assessee for A

ITA 568/NAG/2024[2020-21]Status: DisposedITAT Nagpur10 Feb 2025AY 2020-21

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

For Appellant: Shri Suyash RankaFor Respondent: Shri Abhay Y. Marathe

Section 56Section 80P

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 of it being allowed to Co-operative Societies. We also notice a Division Bench 9 Hinganghat Nagri Sahakari

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

In the result, appeal by the assessee for A

ITA 569/NAG/2024[2022-23]Status: DisposedITAT Nagpur10 Feb 2025AY 2022-23

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

For Appellant: Shri Suyash RankaFor Respondent: Shri Abhay Y. Marathe

Section 56Section 80P

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 of it being allowed to Co-operative Societies. We also notice a Division Bench 9 Hinganghat Nagri Sahakari

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

In the result, appeal by the assessee for A

ITA 567/NAG/2024[2018-19]Status: DisposedITAT Nagpur10 Feb 2025AY 2018-19

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

For Appellant: Shri Suyash RankaFor Respondent: Shri Abhay Y. Marathe

Section 56Section 80P

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 of it being allowed to Co-operative Societies. We also notice a Division Bench 9 Hinganghat Nagri Sahakari

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

In the result, assessee' appeal for A

ITA 58/NAG/2022[2015-16]Status: DisposedITAT Nagpur25 Feb 2025AY 2015-16

For Appellant: Shri Rajesh LoyaFor Respondent: Shri Sandipkumar Salunke

Section 132Section 133ASection 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

section 68 of the Act. Accordingly, the\nHon'ble High Court dismissed the appeal of the Department. The relevant\nfindings of the Hon'ble High Court are as follows:-\n'5

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

ITA 54/NAG/2022[2011-12]Status: DisposedITAT Nagpur25 Feb 2025AY 2011-12

For Appellant: Shri Rajesh LoyaFor Respondent: Shri Sandipkumar Salunke

Section 132Section 133ASection 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

section 68 of the Act. Accordingly, the\nHon'ble High Court dismissed the appeal of the Department. The relevant\nfindings of the Hon'ble High Court are as follows:-\n'5

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

ITA 56/NAG/2022[2013-14]Status: DisposedITAT Nagpur25 Feb 2025AY 2013-14

For Appellant: Shri Rajesh LoyaFor Respondent: Shri Sandipkumar Salunke

Section 132Section 133ASection 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

section 68 of the Act. Accordingly, the\nHon'ble High Court dismissed the appeal of the Department. The relevant\nfindings of the Hon'ble High Court are as follows:-\n'5

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

ITA 164/NAG/2023[2017-18]Status: DisposedITAT Nagpur21 Jan 2025AY 2017-18

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

For Appellant: Shri Suren Duragkar a/wFor Respondent: Shri Sandipkumar Salunke

Section 132Section 153C

68 does not require that the amount is to be owned by the assessee. It only deals with any amount shown in the books of account of the assessee. Whereas section 69A deals with money, etc., owned by the assessee and found in his possession. Therefore, ownership is one of the considerations when the matter comes under section

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

ITA 26/NAG/2020[2014-15]Status: DisposedITAT Nagpur29 Jul 2024AY 2014-15

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

Section 142ASection 145

Section 68 – Rs. 6 crores total – Unsecured loans from (i) Anubhav Vinimay – Rs.2,00,00,000/- (ii) Blue View Trade Comm.Pvt Ltd. Rs.3 Crores (iii) Raj Laxmi Decision Pvt.Ltd – Rs.1 crore 5

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

ITA 140/NAG/2021[2018-19]Status: DisposedITAT Nagpur29 Jul 2024AY 2018-19

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

Section 142ASection 145

Section 68 – Rs. 6 crores total – Unsecured loans from (i) Anubhav Vinimay – Rs.2,00,00,000/- (ii) Blue View Trade Comm.Pvt Ltd. Rs.3 Crores (iii) Raj Laxmi Decision Pvt.Ltd – Rs.1 crore 5