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

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 cannot be invoked. We find the Ld. AR for the assessee filed following summary of impugned deposits and refunds; Repay– Sr. Details of Details of trade advance Details of trade advance ment no. payers received repaid within Date of Amount Date of Name Amount repaid Receipt Received Payment M/s. Anshul 1. 20/08/2015 31,00,000 21/08/2015

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

In the result, assessee' appeal for A

section 69.\nFurther, we may point out that section 68 under which the addition has\nbeen made by the Assessing Officer reads as under:\n\"68. Where any sum is found credited in the books of an assessee\nmaintained for any previous year. and the assessee offers no\nexplanation about the nature and source thereof or the explanation

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

section 69.\nFurther, we may point out that section 68 under which the addition has\nbeen made by the Assessing Officer reads as under:\n\"68. Where any sum is found credited in the books of an assessee\nmaintained for any previous year. and the assessee offers no\nexplanation about the nature and source thereof or the explanation

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

section 69.\nFurther, we may point out that section 68 under which the addition has\nbeen made by the Assessing Officer reads as under:\n\"68. Where any sum is found credited in the books of an assessee\nmaintained for any previous year. and the assessee offers no\nexplanation about the nature and source thereof or the explanation

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

section 68. One must not lose sight of the fact that it is the Revenue which has all the wherewithal to trace any person. Moreover, it is settled law that the assessee need not to prove the source of source." The assessee-company was engaged in the business of financing and trading of shares. For the assessment year

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

section 68. One must not lose sight of the fact that it is the Revenue which has all the wherewithal to trace any person. Moreover, it is settled law that the assessee need not to prove the source of source." The assessee-company was engaged in the business of financing and trading of shares. For the assessment year

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

section 68. One must not lose sight of the fact that it is the Revenue which has all the wherewithal to trace any person. Moreover, it is settled law that the assessee need not to prove the source of source." The assessee-company was engaged in the business of financing and trading of shares. For the assessment year

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

section 68. One must not lose sight of the fact that it is the Revenue which has all the wherewithal to trace any person. Moreover, it is settled law that the assessee need not to prove the source of source." The assessee-company was engaged in the business of financing and trading of shares. For the assessment year

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

section 68. One must not lose sight of the fact that it is the Revenue which has all the wherewithal to trace any person. Moreover, it is settled law that the assessee need not to prove the source of source." The assessee-company was engaged in the business of financing and trading of shares. For the assessment year

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

section 68. One must not lose sight of the fact that it is the Revenue which has all the wherewithal to trace any person. Moreover, it is settled law that the assessee need not to prove the source of source." The assessee-company was engaged in the business of financing and trading of shares. For the assessment year

NIKITA SHANKARLAL TANWANI,CHHINDWARA vs. ASSISTANT COMMISSIONER OF INCOME TAX, NAGPUR

In the result, assessee’s appeal is partly allowed

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year: 2018-19 Ms. Nikita Shankar Lal Tanwani Vs. The Acit Near Shankar Mandir, Shankar Central Circle 2(1) Nagar, Pandhuna Pandhurna Nagpur Chhindwara – 480 334 (M.P.) Pan No.:Borpt 4644 F Appellant Respondent Assessee By: Shri Manoj G. Moryani, Adv. & Shri Bhavesh Moryani, Adv Revenue By :Shri Piyush Kolhe (Cit-Dr) Date Of Hearing: 28/04/2022 Date Of Pronouncement: 8 /62022 Order Per: Sandeep Gosain, J.M. The Captioned Appeal Has Been Filed By The Assessee Challenging The Impugned Order Dated 8Th October 2021, Passed By The Commissioner Of Income Tax (Appeals)–3, Nagpur, [In Short “The Learned Cit(A)”] Under Section 250 Of The Income Tax Act, 1961 (In Short "The Act") For The Assessment Year 2018-19. The Present Appeal Has Been Filed On The Following Grounds:- 2. “1. The Commissioner Of Income Tax (Appeals)-3, Nagpur Erred In Confirming Addition, Therefore Order Passed Is Illegal, Invalid & Bad In Law.

68 as unexplained investment, therefore addition confirmed is unjustified, unwarranted and excessive. 7. The learned Commissioner of Income Tax (Appeals)-3, Nagpur erred in not accepting the contention of the assessee and without going into to the merits of case confirmed the income U/s. 69A and 3 Nikita Shankarlal Tanwani vs ACIT, CentralCircle 2(1), Nagpur charged tax U/s. 115BBE

RAVINDRA KHANDELWAL,AKOLA vs. ASSISTANT COMMISSIONER OF INCOME TAX - CIRCLE AKOLA , 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 2.1 The AO has made an addition to the tune of Rs. 75,00,000 under section

I.T.O. WARD -3(5), NAGPUR vs. SHRI MUKUNDRAO GOVINDRAO MANKAR, KATOL

In the result, Revenue’s appeal is dismissed

Bench: Shri P.K. Bansal & Shri Amarjit Singh

68 i.e., identity; creditworthiness and genuineness of transactions stand established as confirmation letter from the said LRPL has been filed by the appellant. Considering the above totality of facts the addition made by the Ld. AO of Rs. 6174880/- is hereby deleted.” The assessee being aggrieved by the aforesaid order of the learned Commissioner (Appeals), is in further appeal before

DY COMMISSIONER OF INOCME TAX , CIRCLE -2, NAGPUR vs. M/S N KUMAR CONSTRUCTION CO .PVT.LTD , NAGPUR

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

section 68 of the Act are not applicable to the facts of the present case. Following submissions have been made. ―1. The assessee has received an amount from the parties at Rs. 6,58,12,500/- through proper banking channel; 2. The aforesaid amounts were received by the assessee against booking of property showroom. The assessee has received aforesaid

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

In the result, assessee' appeal for A

section 68 of the Income Tax Act.\n31\nShri Sanjay Dhanraj Jain\nITA no.53, to 59/Nag./2024\n11. We have also carefully examined the impounded Excel Sheet in order to\nverify the veracity of explanation offered by the assessee to explain the\nentries/noting in the impounded documents. The Assessing Officer observed\nin Para-8 of the assessment order that

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

section 153D dated 29/09/2021 is in mechanical/routine manner without application of mind by Addl.CIT, which is merely a formality, an empty ritual and as such it leads to flagrant violation of the rules of law. 45. The third contention of the learned A.R. is that while granting such mechanical approval dated 29/09/2021 under section 153D for the assessment