NITIN NARAYAN KADAMDHAD,NAGPUR vs. ITO WARD 4(5) NAGPUR, NAGPUR

In the result, assessee’s appeal stands allowed

Bench: Shri V. Durgarao

price. 7. Any other ground of appeal that may be raised from time to time in course of appellate proceedings. PRAYER: To grant the stay against the demand and recovery action to be taken by the jurisdictional assessing officer as the appellant has preferred an appeal before this Hon'ble Income Tax Appellate Tribunal and is confident of getting justice

VIRAMBHAI HARGOVANBHAI PATEL,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, DELHI

In the result appeal of the Revenue is dismissed

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

price, the provisions of sec. 56(2)(x) of the I.T.Act are applicable. 7.5 The Provisions of Section 56(2)(x) reads as under: …………….. (x) where any person receives, in any previous year, from any person or persons on or after the 1st day of April, 2017:- (a)any sum of money, without consideration, the aggregate value of which exceeds

INCOME TAX OFFICER , WARD -5, AMRAVATI vs. JITENDRA PRANSINGH THAKUR , AMRAVATI

Appeal is dismissed in above terms

Bench: Shri Satbeer Singh Godara & Shri Dr. Dipak P. Ripote

transferred in his favour by filing a suit for specific performance. 4. On the facts and circumstances of the case and in law, the Ld.CIT(Appeals) was justified in deleting the addition made by A.O. of Rs.2,84,72,000/- under the provisions of Sec.56(2)(vii)(b) by accepting the objections raised by the assssee but not referring

RUPESH LALDAS DHAKATE,NAGPUR vs. ITO WARD -1, BHANDARA

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao

price. The case involved situations where agreements to sell were executed, and payments were made before the actual registration of the sale deed. Key Point: The Madras High Court held that where the agreement to sell and the payment had already been made, and there was a clear intention to transfer ownership, the date of the agreement could have relevance

DY COMMISSIONER OF INCOME TAX , CIRCLE-1, NAGPUR vs. M/S NIHAL GITS PVT.LTD , NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

56(2)(viib) and the same is enumerated as income in section 2(24)(xvi)." ii. CBDT vide its Instruction No. 2/2015 dated 29/01/2015 has accepted the aforesaid decision of Hon'ble Bombay High Court and clarified the same as under. "In reference to the above cited subject, I am directed to draw your attention to the decision

ASSTT.COMMISSIONER OF INCOME TAX CIRCLE-1, NAGPUR vs. VISHNU GILTS PVT.LT, NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

56(2)(viib) and the same is enumerated as income in section 2(24)(xvi)." ii. CBDT vide its Instruction No. 2/2015 dated 29/01/2015 has accepted the aforesaid decision of Hon'ble Bombay High Court and clarified the same as under. "In reference to the above cited subject, I am directed to draw your attention to the decision

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -1, NAGPUR vs. M/S RAGHAV FINVEST PVT LTD , NAGPUR

In the result, appeal filed by the Revenue is dismissed

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

56(2)(viib) and the same is enumerated as income in section 2(24)(xvi)." ii. CBDT vide its Instruction No. 2/2015 dated 29/01/2015 has accepted the aforesaid decision of Hon'ble Bombay High Court and clarified the same as under. "In reference to the above cited subject, I am directed to draw your attention to the decision

ITO, WARD-6(1),, NAGPUR vs. THE VIDARBHA PREMIER CO-OP. HOUSING SOCIETY,, NAGPUR

In the result these appeals by the assessee and revenue stand allowed for statistical purposes

Bench: Shri Shamim Yahya & Shri Ram Lal Negi..

prices of materials and administrative expense of the Gala Yojana.’ 4. The AO was not satisfied. He observed and held as under : “ The assessee has shown ‘Surplus on Schemes’ amounting to Rs.3,51,47,632/- under Miscellaneous income in the Profit & Loss account. The assessee was asked to submit the details of the same. The assessee submitted details of schemes

THE VIDHARBHA PREMIER CO-OPERATIVE HOUSING SOCIETY LTD,,NAGPUR vs. TAX RECOVERY OFFICER, RANGE-6, NAGPUR

In the result these appeals by the assessee and revenue stand allowed for statistical purposes

Bench: Shri Shamim Yahya & Shri Ram Lal Negi..

prices of materials and administrative expense of the Gala Yojana.’ 4. The AO was not satisfied. He observed and held as under : “ The assessee has shown ‘Surplus on Schemes’ amounting to Rs.3,51,47,632/- under Miscellaneous income in the Profit & Loss account. The assessee was asked to submit the details of the same. The assessee submitted details of schemes

INCOME TAX OFFICER, WARD-5(3), NAGPUR vs. SHRI WAMAN MAHADEORAO SARODE, NAGPUR

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

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

56(2)(vii (b) of the Act. 5. The learned CIT(A), vide its impugned order, granted full relief. It is worthwhile to reproduce, in verbatim, the written submissions made by the assessee before the learned CIT(A) as under:– “35. In this regard, it is most humbly submitted that the AO made the addition of Rs.28

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

In the result, appeal of the assessee is allowed

56. This being agricultural land which is deemed capital asset, the proceeds there of would be taxable in hands of seller of land who is spouse of the petitioner. It requires to be understood that the said account being held jointly, both holder are jointly responsible for any transaction therein unless denied by anyone. In instant case, the other

ASSISTANT COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE -1,RAIPUR (CG), RAIPUR (CG) vs. M/S SARDA ENERGY & MINERALS LTD , NAGPUR

The appeals of the Revenue are dismissed

56,127 = 36,70,781 (working as per Annexure ‘A’ attached) Therefore, an amount of Rs.36,70,781/- has been disallowed u/s. 14A, r.w. Rule 8D as discussed above. Penalty proceedings u/s.271(1)(c) are separately initiated as the assessee has filed inaccurate particulars of its income.” 8. Aggrieved with the above addition, the assessee filed an appeal before

ASSISTANT COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE -1,RAIPUR (CG), RAIPUR (CG) vs. M/S SARDA ENERGY & MINERALS LTD , NAGPUR

The appeals of the Revenue are dismissed

56,127 = 36,70,781 (working as per Annexure ‘A’ attached) Therefore, an amount of Rs.36,70,781/- has been disallowed u/s. 14A, r.w. Rule 8D as discussed above. Penalty proceedings u/s.271(1)(c) are separately initiated as the assessee has filed inaccurate particulars of its income.” 8. Aggrieved with the above addition, the assessee filed an appeal before

SHRI SHRI GURVINDER SINGH SASAN, L/H OF LATE SHRI JAGDISH SINGH SASAN,NAGPUR vs. THE ITO-WARD-2(2),, NAGPUR

In the result, the appeal of the assessee is allowed

Bench: Sh. G.D.Agrawal, Hon’Ble & Sh. Mahavir Singhsh. Gurvinder Singh Sasan, Vs Ito, L/H Of Late Sh. Jagdish Singh Sasan, Ward–2(2), C/O–Kasjmir Bar & Restaurant, 3Ed Floor, Ayakar Gaddogudam Chowk, Nagpur–440001. Bhawan, Nagpur Pan–Aeyps3694G (Appellant) (Respondent) Appellant By Sh.K.P.Dewani, Adv. Respondent By Sh. Jitesh Kumar Date Of Hearing 07.03.2018 Date Of Pronouncement 07.03.2018

56 to 58 of the assessee’s Paper Book. The assessee also drew our attention to the electricity bills in respect of construction of residential house to show the consumption of electricity for this residential house is being paid for the month of September 2012. The relevant bill is enclosed at page 59 to 61 of the assessee’s Paper

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

Transfer of Undertakings) Act, 1970 or any other bank included in the Second Schedule to the Reserve Bank of India Act, 1934. It may be mentioned that all cooperative banks have been excluded from the purview of this provision in view of the position that under section 80P(2)(a)(i), the profits and gains of a co-operative society

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

Transfer of Undertakings) Act, 1970 or any other bank included in the Second Schedule to the Reserve Bank of India Act, 1934. It may be mentioned that all cooperative banks have been excluded from the purview of this provision in view of the position that under section 80P(2)(a)(i), the profits and gains of a co-operative society

RAJESH SARDA,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), NAGPUR

In the result, the addition of undisclosed income under section 68 is deleted

Bench: Shri Pawan Singh & Shri Khettra Mohan Roy(Physical Hearing) Rajesh Sarda, Acit, Central Circle – 2(2), Nagpur 14, Daga Lay–Out, Ambazari Road, Vs Aayakar Bhawan, Civil Lines, Nagpur – 440033. Maharashtra – 440001. [Pan: Ahaps4925M] Appellant / Assessee Respondent / Revenue Assessee By Shri K.P. Dewani, Advocate Revenue By Shri Pankaj Kumar, Cit–Dr Date Of Hearing 16.02.2026 Date Of Pronouncement 24.02.2026 Order Under Section 254(1) Of Income Tax Act

transferred to the share brokers and ultimately used for purchase of shares by various brokers / companies. On the basis of such observation, the AO treated the transaction of both the long term capital gain as sham transaction and aggregate of both the long term capital gains of Rs. 18.84 crore was treated income from undisclosed sources in the assessment order

MANISHA ASHUTOSH SHEWALKAR,NAGPUR vs. INCOME TAX OFFICER WARD 5(3), NAGPUR

In the result, assessee’s appeal stands allowed

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

price more than the normal, sale of prevailing sales can be regarded as capital assets. Thus, the assessee’s case was reopened under section 147 of the Income Tax Act, 1961 ("the Act") by issuing notice 04/01/2019, under section 148 of the Act in response to the which, the assessee, on 08/02/2019, filed her return of income for the assessment