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

In the result, appeal filed by the assessee for A

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

price paid for them was in the nature of a capital outlay and no part of it can be set off as expenditure against income accruing on those securities. Subsequently, when these securities yielded income by way of interest, such income attracted Section 18." (emphasis supplied). Vidarbha Konkan Gramin Bank A.Y. 2014–15 & 2015–16 7.5 In the nutshell

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

In the result, appeal filed by the assessee for A

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

price paid for them was in the nature of a capital outlay and no part of it can be set off as expenditure against income accruing on those securities. Subsequently, when these securities yielded income by way of interest, such income attracted Section 18." (emphasis supplied). Vidarbha Konkan Gramin Bank A.Y. 2014–15 & 2015–16 7.5 In the nutshell

PRITAM SINGH CHARAN SINGH GUJJAR,NAGPUR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4,, NAGPUR

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao

price is an estimation nevertheless, even if by a statutory authority like the stamp duty valuation authority, and such a valuation can never be elevated to the status of such a precise computation which admits no variations. The rigour of Section 50C(1) was thus relaxed, and very thoughtfully so, to take these bonafide cases of small variations between

SUSHILA BHAURAO DESHMUKH,AMRAVATI vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, NAGPUR

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durgarao & Shrik.M. Roy, Accountant, Member

13. Decision of ITAT, Pune Bench, in the case of Ramesh Narhari Jakhadi v/s ITO in ITA No.36/Pune/1990 for the assessment year 1986-87 order dated 20/02/1992 reported at [1992] 41 ITD 0368, also supports the submission of assessee in the case of assessee agricultural land is sold on 22/03/2017. In respect to earlier 14 SushilaBhauraoDeshmukh ITAno.76/Nag./2022 two years

SHREE MAYA REAL ESTATE PVT. LTD.,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), NAGPUR

In the result, appeal filed by the assessee is allowed

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

price is an estimation nevertheless, even if by a statutory authority like the stamp duty valuation authority, and such a valuation can never be elevated to the status of such a precise computation which admits no variations. The rigour of Section 50C(1) was thus relaxed, and very thoughtfully so, to take these bonafide cases of small variations between

SHREE MAYA REAL ESTATE PVT. LTD.,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), NAGPUR

In the result, appeal filed by the assessee is allowed

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

price is an estimation nevertheless, even if by a statutory authority like the stamp duty valuation authority, and such a valuation can never be elevated to the status of such a precise computation which admits no variations. The rigour of Section 50C(1) was thus relaxed, and very thoughtfully so, to take these bonafide cases of small variations between

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

transfer price audit report and other relevant evidence also. Further, after delivery, there is an unexplained expenditure in the hands of the appellant. This must be to suppress the turnover in the hands of Sufalam Infra Projects Pvt. Ltd. Sufalam Infra Projects Pvt. Ltd., was also subject to search proceeding u/s 132 of the IT Act, 1961 and assessment orders

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

transfer price audit report and other relevant evidence also. Further, after delivery, there is an unexplained expenditure in the hands of the appellant. This must be to suppress the turnover in the hands of Sufalam Infra Projects Pvt. Ltd. Sufalam Infra Projects Pvt. Ltd., was also subject to search proceeding u/s 132 of the IT Act, 1961 and assessment orders

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

transfer price audit report and other relevant evidence also. Further, after delivery, there is an unexplained expenditure in the hands of the appellant. This must be to suppress the turnover in the hands of Sufalam Infra Projects Pvt. Ltd. Sufalam Infra Projects Pvt. Ltd., was also subject to search proceeding u/s 132 of the IT Act, 1961 and assessment orders

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

transfer price audit report and other relevant evidence also. Further, after delivery, there is an unexplained expenditure in the hands of the appellant. This must be to suppress the turnover in the hands of Sufalam Infra Projects Pvt. Ltd. Sufalam Infra Projects Pvt. Ltd., was also subject to search proceeding u/s 132 of the IT Act, 1961 and assessment orders

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

transfer price audit report and other relevant evidence also. Further, after delivery, there is an unexplained expenditure in the hands of the appellant. This must be to suppress the turnover in the hands of Sufalam Infra Projects Pvt. Ltd. Sufalam Infra Projects Pvt. Ltd., was also subject to search proceeding u/s 132 of the IT Act, 1961 and assessment orders

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

transfer price audit report and other relevant evidence also. Further, after delivery, there is an unexplained expenditure in the hands of the appellant. This must be to suppress the turnover in the hands of Sufalam Infra Projects Pvt. Ltd. Sufalam Infra Projects Pvt. Ltd., was also subject to search proceeding u/s 132 of the IT Act, 1961 and assessment orders

DY. CIT, CENTRAL CIRCLE-2(2), NAGPUR vs. GOPANI IRON AND POWER(INDIA) PVT. LTD., MUMBAI

In the result, all the grounds of appeal raised by revenue are rejected

Bench: Shri Pawan Singh & Shrikhettra Mohan Roy

1) the price that such goods or services would ordinarily fetch in the open market", what is to be seen and (AYs. 2017-18, 18-19, 20-21 & 21-22) Dy. CIT vs. Gopani Iron and Power (India) Pvt. Ltd. tested with comparable is the price that the electricity generated by the eligible unit would ordinarily fetch in the open

DY. CIT, CENTRAL CIRCLE-2(2), NAGPUR vs. GOPANI IRON AND POWER(INDIA) PVT. LTD., MUMBAI

In the result, all the grounds of appeal raised by revenue are rejected

Bench: Shri Pawan Singh & Shrikhettra Mohan Roy

1) the price that such goods or services would ordinarily fetch in the open market", what is to be seen and (AYs. 2017-18, 18-19, 20-21 & 21-22) Dy. CIT vs. Gopani Iron and Power (India) Pvt. Ltd. tested with comparable is the price that the electricity generated by the eligible unit would ordinarily fetch in the open

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 year

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 year

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 year

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 year

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 year

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 year