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..

vii) The entire benefit of receiving interest goes to the members who deposit money with us, so all the members are getting benefit from each other. So the principle of mutuality is fully satisfied in all cases. It is only credit facility for acquiring house only and not for any other purpose. viii) Considering the activity of the society

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..

vii) The entire benefit of receiving interest goes to the members who deposit money with us, so all the members are getting benefit from each other. So the principle of mutuality is fully satisfied in all cases. It is only credit facility for acquiring house only and not for any other purpose. viii) Considering the activity of the 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

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

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

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

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

DCIT, CIRCLE-2, NAGPUR, NAGPUR vs. NARESH LAXMINARAYAN GROVER, NAGPUR

In the result, all these three appeals for the A

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

vii. There are large number of judgements by various high courts of the country including jurisdictional high court in the case of PCIT vs Indravadan Jain, HUF INCOME TAX APPEAL NO. 454 OF 2018 12th JULY 2023 [2023] 156 taxmann.com 605 (Bombay) Various high courts have taken into account distinguishable facts of each of the case and have given judgement

DCIT, CIRCLE-2, NAGPUR, NAGPUR vs. NARESH LAXMINARAYAN GROVER, NAGPUR

In the result, all these three appeals for the A

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

vii. There are large number of judgements by various high courts of the country including jurisdictional high court in the case of PCIT vs Indravadan Jain, HUF INCOME TAX APPEAL NO. 454 OF 2018 12th JULY 2023 [2023] 156 taxmann.com 605 (Bombay) Various high courts have taken into account distinguishable facts of each of the case and have given judgement

DCIT, CIRCLE-2, NAGPUR, NAGPUR vs. NARESH LAXMINARAYAN GROVER, NAGPUR

In the result, all these three appeals for the A

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

vii. There are large number of judgements by various high courts of the country including jurisdictional high court in the case of PCIT vs Indravadan Jain, HUF INCOME TAX APPEAL NO. 454 OF 2018 12th JULY 2023 [2023] 156 taxmann.com 605 (Bombay) Various high courts have taken into account distinguishable facts of each of the case and have given judgement

ACIT, CIRCLE-4, NAGPUR vs. SHRI VINOD BALBHADRA GOENKA,, NAGPUR

In the result, appeal of the Revenue is dismissed

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year: 2014-15 The Acit Vs. Shri Vinod Balbhadra Goenka Circle-4 247, Nandanvan Layout Nagpur Nagpur Pan No.:Aanpg 6841 N Appellant Respondent Revenue By :Shri Piyush Kolhe (Cit-Dr) Assessee By: Shri K.P. Dewani, Adv Date Of Hearing: 28/04/2022 Date Of Pronouncement: 28 /06 /2022 Order Per: Sandeep Gosain, J.M. This Is An Appeal By Revenue Against Order Of Learned Commissioner Of Income Tax (Appeals)-4, Nagpur Dated 30/03/2017 In Appeal No.Cit(A)- 4/198/16-17 For The Assessment Year 2014-15. The Grounds Raised By The Revenue In This Appeal Are As Under:

transferred to DMAT account on 19.12.2012. The payment for same has been made through banking channels and the same is reflected in the bank statement of the appellant. The regular assessment for Asstt. Year 2013-14 was completed by A.O. on 01/03/2016 wherein the investment made in purchase of shares has been accepted without inviting any adverse observations