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

50,00,000 respectively under section 68 of the Act. i. The said additions were confirmed by the CIT (Appeals

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

In the result, appeal of the assessee is allowed

50,000/- is considered as un explained income of the appellant which has been correctly taxed xx] s. 68 of The Income Tax Act 1961. 6. From above order of Learned Commissioner of Income TAX (Appeals)-l Nagpur it is crystal clear that the addition was confirmed u/s. 68 of the Income Tax Act 1961. In this respect

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

In the result, assessee' appeal for A

Section 153A only on the basis of some incriminating material unearthed during the course of search or requisition of documents or undisclosed income or property discovered in the course of search which were not produced or not already disclosed or made known in the course of original assessment which is not in the case of assessee. (4) On contrary

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

section 68 only sets up a presumption against the assessee whenever unexplained credits are found in the books of account of the assessee. It cannot but be again said that the presumption is rebuttable. In refuting the presumption raised, the initial burden is on the assessee. This burden, which is placed on the assessee, shifts as soon

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

Section 153A only on the basis of some\nincriminating material unearthed during the course of search or requisition of\ndocuments or undisclosed income or property discovered in the course of\nsearch which were not produced or not already disclosed or made known in\nthe course of original assessment which is not in the case of assessee

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

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

section 68 o the Income Tax Act, 1961 neither suffers from any perversity nor gives rise to any substantial question of law.” v) Vodafone India Services Pvt. Ltd. v/s ACIT, [2014] 368 ITR 001 (Bom.) “FINDINGS: The amounts received on issue of share capital including the premium are undoubtedly on capital account.” 13 M/s. Mahavir Coal Resources

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

Section 153A only on the basis of some\nincriminating material unearthed during the course of search or requisition of\ndocuments or undisclosed income or property discovered in the course of\nsearch which were not produced or not already disclosed or made known in\nthe course of original assessment which is not in the case of assessee

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

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

section 68 of the Act. It was submitted that 4 M/s. Mahavir Coal Resources Pvt. Ltd. Assessment Year – 2011–12 relief granted by learned CIT(A) be reversed and the order passed by the Assessing Officer be restored. 6. The gist of submission, as submitted by the learned Counsel for the assessee is reproduced hereunder for ready reference:– “Ground

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

In the result, assessee' appeal for A

Section 153A only on the basis of some\nincriminating material unearthed during the course of search or requisition of\ndocuments or undisclosed income or property discovered in the course of\nsearch which were not produced or not already disclosed or made known in\nthe course of original assessment which is not in the case of assessee

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

Section 153A only on the basis of some\nincriminating material unearthed during the course of search or requisition of\ndocuments or undisclosed income or property discovered in the course of\nsearch which were not produced or not already disclosed or made known in\nthe course of original assessment which is not in the case of assessee

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

Section 153A only on the basis of some\nincriminating material unearthed during the course of search or requisition of\ndocuments or undisclosed income or property discovered in the course of\nsearch which were not produced or not already disclosed or made known in\nthe course of original assessment which is not in the case of assessee

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

50,000/- with the aid of section 68 of the Act, 1961 on account of unexplained cash credits appearing

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

50,000/- with the aid of section 68 of the Act, 1961 on account of unexplained cash credits appearing

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

50,000/- with the aid of section 68 of the Act, 1961 on account of unexplained cash credits appearing

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

50,000/- with the aid of section 68 of the Act, 1961 on account of unexplained cash credits appearing

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

50,000/- with the aid of section 68 of the Act, 1961 on account of unexplained cash credits appearing

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

50,000/- with the aid of section 68 of the Act, 1961 on account of unexplained cash credits appearing

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-4, NAGPUR, NAGPUR vs. SHIKHA INDRAKUMAR AGRAWAL, NAGPUR

In the result, appeal by the assessee stands allowed

Bench: Shri Pawan Singh & Shri Khettra Mohan Roy

section 68 of the Act. Long term capital gains declared in the return of income and exemption claimed hereby accepted as shown in return of income. Accordingly, we direct to delete the impugned addition made at Rs.1,50