JOINT COMMISSIONER INCOME-TAX(IN-SITU), CIRCLE-1, PATNA, PATNA vs. NORTH BIHAR POWER DISTRIBUTION COMPANY LIMITED, PATNA

In the result, the appeals of the Revenue and COs of the\nassessee are dismissed

50,775/- has been\nerredited as 31.03.2019. This includes accretion of interest on capital fund upto\n31.03.2018 as well as co. FY 2018-19. Therefore, the contention of the appellant\nappears to be correct although the crediting of interest has happened on\n31.03.2019 and not on 31.03.2018 as claimed in the submission.\n5.1.3 It is therefore clear that the interest

RAVI LOCHAN SINGH,PATNA vs. ACIT, CIRCLE-5, PATNA

In the result, the appeal filed by the assessee is dismissed

Bench: SHRI DUVVURU RL REDDY, VICE PRESIDENT SHRI SANJAY AWASTHI (Accountant Member)

50% of the normal depreciation will be allowed as per the provision of section 32(1) of IT Act. Hence

MAHUA COOPERATIVE COLD STORAGE LTD, MAHUA,VAISHALI vs. ADIT,CPC, BENGALURU, BENGALURU

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

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

section 43B. 6) For that the addition on account of interest payable to NCDC is, therefore, liable to be deleted. 7) For that the appellant has carried forward loss of Rs. 50,33,596/- and carried forward unabsorbed depreciation of Rs. 44,65,970/- which should have been allowed against the income determined. 8) For that other grounds

DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-1, PATNA, PATNA vs. NORTH BIHAR POWER DISTRIBUTION COMPANY LIMITED, PATNA

In the result, the appeals of the Revenue and COs of the assessee are dismissed

Bench: Shri Duvvuru Rl Reddy, Vp & Shri Rajesh Kumar, Am

50,775/- has been credited on 31.03.2019. This includes accretion of interest on capital fund upto 31.03.2018 as well as for FY 2018-19. Therefore, the contention of the appellant appears to be correct although the crediting of interest has happened on 31.03.2019 and not on 31.03.2018 as claimed in the submission. 5.1.3 It is therefore clear that the interest

JCIT(IN-SITU), CIRCLE-1, PATNA., PATNA vs. NORTH BIHAR POWER DISTRIBUTION COMPANY LIMITED, PATNA

In the result, the appeals of the Revenue and COs of the\nassessee are dismissed

50,775/- has been\nerredited on 31.03.2019. This includes accretion of interest on capital fund upto\n31.03.2018 as well as ex- post FY 2018-19. Therefore, the contention of the appellant\nappears to be correct although the crediting of interest has happened on\n31.03.2019 and not on 31.03.2018 as claimed in the submission.\n5.1.3 It is therefore clear that

DCIT, CIRCLE-1, MUZAFFARPUR vs. M/S R.P.RAI ESTATE PVT LTD, PATNA

In the result, the appeal of the revenue is dismissed

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Bleassessment Year: 2017-18 Dcit, Circle-1, Muzaffarpur M/S. R.P. Rai Estate Pvt. Ltd. Vs 19, Goharua, Patliputra Colony, Patliputra, Patna- 800013. Pan: Aaccr 4972 P (Appellant) (Respondent) Present For: Appellant By : Shri Sushil Kumar Mishra, Jcit, Dr Respondent By : Shri Devesh Poddar, Advocate Date Of Hearing : 19.03.2024 Date Of Pronouncement : 03.04.2024 O R D E R Per Sonjoy Sarma, Jm: This Appeal Of The Revenue For The Assessment Year 2017-18 Is Directed Against The Order Dated 29.06.2020 Passed By The Ld. Commissioner Of Income-Tax (Appeal), Patna [Hereinafter Referred To As ‘The Ld. Cit(A)’].

50,15,861/-. 3. Dissatisfied with the above order, assessee went into appeal before the ld. CIT(A) where the appeal of the assessee was allowed observing as under: “I have considered the facts of the case and also gone through the Assessment Order and submission made by the A.R. The contention of the A.R is that the building

M/S KUMAR CONSTRUCTION,CHAPRA vs. DCIT, CICLE-2, MUZAFFAPUR

In the result, the appeal of the assessee is allowed

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Bleita Nos.200/Pat/2014 Assessment Year: 2005-06 M/S. Kumar Construction Dcit, Circle-2, Muzaffarpur P.O. Dumri Adda, P.S. Vs. Doriganj, Dist. Chapra. Pan: Aajfm 7295 G (Appellant) (Respondent) Present For: Appellant By : Smt. Archana Sharma, Ca Respondent By : Shri Rupesh Agrawal, Sr. Dr Date Of Hearing : 28.06.2022 Date Of Pronouncement : 22.09.2022 O R D E R Per Sonjoy Sarma, Jm: The Captioned Appeals Preferred By The Assessee For The A.Y. 2005-06 Is Directed Against The Order Passed U/S 143(3) Of The Income-Tax Act, 1961 Passed By Osd, Cit(A) Dated 26.06.2014. The Assessee Has Taken The Following Revised Ground Of Appeal For A.Y. 2005-06 As Under: “I. The Ld. Assessing Officer Has Assessed Profit @ 8% Of Total Gross Receipts Amount To Rs. 2,40,85,620/- Amounting To Rs. 19,26,850/- & Added Back To Assessee’S Income While Computation Of Tax. Ii. Capital Introduced By 6 Partner’S Amounting To Rs. 12,20,000/- Has Been Outrightly Rejected By Ao & Added Back To Assessees Income While Computation Of Tax. Iii. The Respondent Have Rejected The Books Of Accounts Invoking The Provision Of Section 145(3) & Rejecting The Books Of Accounts Regularly Maintained & Holding That The Audited Books Of Accounts Were Not Absolutely Reliable. So, We Pray For Consider The Revised Grounds Stated Above & Grant Relief For Assessee’S Income @ 6% Of The Total Receipts Of Rs. 2,40,85,620/-.”

depreciation claimed in the profit and loss accounts. However, doing so, he allowed salary and interest to partners amounting to Rs. 3,97,897/- therefrom. Since the assessee firm was reconstituted and seven partners had introduced Rs. 17,86,586/- towards their capital and out of seven partners did not file any documentary proof to explain the source of capital