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

undisclosed income is found on the basis of Incriminating material, the AO would assume the jurisdiction to assess or reassess the total income for the entire six years block assessment period even in case of completed/unabated assessment. As per the second proviso to Section 153A, only pending assessment/reassessment shall stand abated and the AO would assume the jurisdiction with respect

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

undisclosed income is found on the basis of Incriminating material, the AO would assume the jurisdiction to assess or reassess the total income for the entire six years block assessment period even in case of completed/unabated assessment. As per the second proviso to Section 153A, only pending assessment/reassessment shall stand abated and the AO would assume the jurisdiction with respect

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

undisclosed income is found on the basis of Incriminating material, the AO would assume the jurisdiction to assess or reassess the total income for the entire six years block assessment period even in case of completed/unabated assessment. As per the second proviso to Section 153A, only pending assessment/reassessment shall stand abated and the AO would assume the jurisdiction with respect

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

undisclosed income is found on the basis of Incriminating material, the AO would assume the jurisdiction to assess or reassess the total income for the entire six years block assessment period even in case of completed/unabated assessment. As per the second proviso to Section 153A, only pending assessment/reassessment shall stand abated and the AO would assume the jurisdiction with respect

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

income is not valid which is not sustainable in the eyes of law. This fact has also not been cared by Addl.CIT while granting such approval dt.29/09/2021 under section 153D for A.Y. 2018-19 to 2020–21. 48. It is submitted that the Addl.CIT has also not cared that addition

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

income is not valid which is not sustainable in the eyes of law. This fact has also not been cared by Addl.CIT while granting such approval dt.29/09/2021 under section 153D for A.Y. 2018-19 to 2020–21. 48. It is submitted that the Addl.CIT has also not cared that addition

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

income is not valid which is not sustainable in the eyes of law. This fact has also not been cared by Addl.CIT while granting such approval dt.29/09/2021 under section 153D for A.Y. 2018-19 to 2020–21. 48. It is submitted that the Addl.CIT has also not cared that addition

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

income is not valid which is not sustainable in the eyes of law. This fact has also not been cared by Addl.CIT while granting such approval dt.29/09/2021 under section 153D for A.Y. 2018-19 to 2020–21. 48. It is submitted that the Addl.CIT has also not cared that addition

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

income is not valid which is not sustainable in the eyes of law. This fact has also not been cared by Addl.CIT while granting such approval dt.29/09/2021 under section 153D for A.Y. 2018-19 to 2020–21. 48. It is submitted that the Addl.CIT has also not cared that addition

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

income is not valid which is not sustainable in the eyes of law. This fact has also not been cared by Addl.CIT while granting such approval dt.29/09/2021 under section 153D for A.Y. 2018-19 to 2020–21. 48. It is submitted that the Addl.CIT has also not cared that addition

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

transfer of an amount of Rs. 1,07,350 to N, an employee of appellant in Bombay office, the amount cannot be assessed as undisclosed income of in the absence of positive material brought by Revenue to prove that the amount in fact belonged to appellant as the burden lay on the Revenue

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

transfer of an amount of Rs. 1,07,350 to N, an employee of assessee in Bombay office, the amount cannot be assessed as undisclosed income of in the absence of positive material brought by Revenue to prove that the amount in fact belonged to assessee as the burden lay on the Revenue

ACIT-CENTRAL CIRCLE -2(1), NAGPUR vs. SHRI NANDKUMAR KHATTUMAL HARCHANDANI , NAGPUR

In the result, appeal of the Revenue stands dismissed

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

undisclosed income of assessee-Not justified-Burden of proof was on the Department to prove that the amount belonged to assessee-Letters of manager, in the absence of same being supplied to the assessee, could not be used against assessee-Manager also not examined by the Department-There was no evidence for the conclusion that the amount belonged to assessee

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

undisclosed income of assessee company." ii. CIT v. Gagandeep Infrastructure (P) Ltd (247 Taxman 245) (Bombay High Court) wherein it has been held as: "Further it was a submission on behalf of the Revenue that such large amount of share premium gives rise to suspicion on the genuineness (identity) of the shareholders i.e. they are bogus. The Apex Court

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

undisclosed income of assessee company." ii. CIT v. Gagandeep Infrastructure (P) Ltd (247 Taxman 245) (Bombay High Court) wherein it has been held as: "Further it was a submission on behalf of the Revenue that such large amount of share premium gives rise to suspicion on the genuineness (identity) of the shareholders i.e. they are bogus. The Apex Court

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

undisclosed income of assessee company." ii. CIT v. Gagandeep Infrastructure (P) Ltd (247 Taxman 245) (Bombay High Court) wherein it has been held as: "Further it was a submission on behalf of the Revenue that such large amount of share premium gives rise to suspicion on the genuineness (identity) of the shareholders i.e. they are bogus. The Apex Court

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

transfer of money etc. Identity creditworthiness of the shareholders and genuineness of the transactions in all cases is not established by only showings that the transaction was through banking channel or account payee instrument. Surrounding and corroborative factual details are equally important before it is held that onus is discharged.” 5) The Ld. CIT(A) ought to have appreciated

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

transfer of money etc. Identity creditworthiness of the shareholders and genuineness of the transactions in all cases is not established by only showings that the transaction was through banking channel or account payee instrument. Surrounding and corroborative factual details are equally important before it is held that onus is discharged.” 5) The Ld. CIT(A) ought to have appreciated