SOCIEADADE DE FOMENTO INDL. PVT. LTD.,MARGAO vs. JOINT COMMISSIONER OF INCOME TAX, MARGAO RANGE, MARGAO

In the result, the appeal of the assessee is partly allowed and that of the Revenue is dismissed

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawal

term capital gain. Therefore, in view of the foregoing we reach to a logical conclusion that the AO was right in treating the income accrued to the assessee as business income and the ld.CIT(A) was also justified in upholding the findings arrived at by the AO on this issue. Accordingly, grounds

APPAYYA KAVEERAPPA KOTTARSHETTY,BELGAUM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -1, BELAGAVI

In the result, appeal filed by the assessee is allowed

Bench: SHIR PAVAN KUMAR GADALE (Judicial Member), SHRI GD PADMAHSHALI (Accountant Member)

capital gains in the Appayya Karveerappa Kottarshetty. A.Y.2017-18 and the A.O has taxed the long term capital

UMICORE AUTOCAT INDIA PRIVATE LIMITED ( ORIGINAL APPELLANT UMICORE ANANDEYA (INDIA) PRIVATE LIMITED),ZUARINAGAR, GOA vs. INCOME TAX OFFICER, WARD - 2,, MARGAO

In the result, the appeal for the A

Bench: Shri R.S. Syal & Shri S.S.Viswanethra Raviआयकर अपील सं. / Ita Nos.118 & 119/Pan/2019 "नधा"रण वष" / Assessment Years : 2009-10 & 2010-11

capital gain - whether short term or long term. Resultantly, the depreciation allowed has to be withdrawn. In view

UMICORE AUTOCAT INDIA PRIVATE LIMITED ( ORIGINAL APPELLANT UMICORE ANANDEYA (INDIA) PRIVATE LIMITED),ZUARINAGAR, GOA vs. INCOME TAX OFFICER, WARD - 2,, MARGAO

In the result, the appeal for the A

Bench: Shri R.S. Syal & Shri S.S.Viswanethra Raviआयकर अपील सं. / Ita Nos.118 & 119/Pan/2019 "नधा"रण वष" / Assessment Years : 2009-10 & 2010-11

capital gain - whether short term or long term. Resultantly, the depreciation allowed has to be withdrawn. In view

M/S SESA RESOURS LTD (FORMERLY V. S. DEMPO & CO. PVT. LTD,PANAJI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), PANAJI

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

Bench: Shri C.M. Garg & Shri Girish Agrawalassessment Year: 2004-05 Sesa Resources Limied Vs. Acit, (Formerly V.S. Dempo & Co., Pvt. Circle-1(1), Aayakar Ltd.), Bhavan, Sesa Ghor, 20 Edc Complex, Edc Complex, Patto, Patto, Panaji, Panaji, Goa – 403 001. Goa. Pan: Aaacv7160R

Long Term Capital Gain : The Assessee has claimed long term capital loss on sale of shares to its wholly

VIJESH VITHAL TALAULICAR,PANAJI vs. ACIT, CIRCLE - 1(1), PANAJI

In the result, appeal of the assessee is allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita No. 230/Pan/2017 "नधा"रण वष" / Assessment Year : 2010-11 Shri Vijesh Vithal Talaulicar Shri Ramnath Sadan, Dr. Dada Vaidya Road, Panaji, Goa Pan : Aaxpt9647D .......अपीलाथ" / Appellant बनाम / V/S. The Asst. Commissioner Of Income Tax, Circle-1(1), Panaji. ……""यथ" / Respondent

Long Term Capital Gain (LTCG) of Rs.48,51,998/- on sale of rejected iron ore dump. On being

PRATIBHA P KULKARNI REPRESENTED BY LEGAL HEIR CHIDAMBAR KULKARNI,BELAGAVI vs. DCIT CENTRAL CIRCLE BELAGAVI, BELAGAVI

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

Bench: Shri Pavan Kumar Gadalei T A. Nos.212/Pan/2025 (A.Y. 2015-16) Pratibha P Kulkarni Vs Dcit-Central Circle, Represented By Legal Heir Saraf Colony, . Chidambar Kulkarni, Khanaput, Plot.No.593, Block-1, Tilakwari, Sector.No.5, Shrinagar, Belagavi--590001, Belagavi-590016, Karnataka. Karnataka. Pan/Gir No. Adzpk4755G (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent)

capital gains and recomputed the long term capital gains and after allowing the deduction under section

MAHENDRA PURUSHOTTAM NAIK GAUNEKAR,PANAJI vs. INCOME TAX OFFICER, PANAJI

Accordingly. The ground thus stands allowed

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

capital gains (Long Term) in his assessment order passed for the year and in adding the difference of Rs. 2,03,33,256 (50 percent

SANJAY ATCHUT POY RAITURCAR,MARGAO vs. ITO, WARD - 4 , MARGAO

Bench: Shri R.S. Syal, Hon.Vice- & Shri Partha Sarathi Chaudhury, Hon. & (Through Virtual Hearing)

long term capital gains (LTCG) on the sale of land after claiming exemption u/sec. 54F, 54F(4) and interest

M/S. AHILIABAI SARDESSAI, ,PANAJI vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 1(1), PANAJI

In the result, appeal of assessee is allowed

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawalassessment Year: 2015-16 M/S. Ahiliabai Sardessai Assistant Commissioner Of 301, Lotus Court, M. G. Income-Tax, Circle-1(1), Vs. Road, St. Inwz Junction, Panaji. Panaji, Goa-403001. (Pan: Aagfa9044G) (Appellant) (Respondent) Present For: Appellant By : Shri N. J. Prabhudesai, Ar Respondent By : Shri Mayur Kamble, Sr. Dr Date Of Hearing : 17.06.2022 Date Of Pronouncement : 30.08.2022 O R D E R Per Girish Agrawal: This Appeal By The Assessee Is Directed Against The Order Of Ld. Cit(A), Panaji-1 Vide Ita No. Cit(A), Pnj-1/10391/2017-18 Dated 14.09.2018 For A.Y. 2015-16 Passed Against The Assessment Order U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) By Acit, Circle-1(1), Panaji, Goa Dated 13.12.2017. 2. Shri N. J. Prabhudesai, Ar Appeared On Behalf Of The Assessee & Shri Mayur Kamble, Sr. Dr Appeared On Behalf Of The Revenue.

long term capital gains of Rs.66,86,593/- claimed exempt u/s. 10(38) of the Act; (iii) short

BANDEKAR BROTHERS PRIVATE LIMITED,VASCO-DA-GAMA, GOA vs. ASSISTANT COMMISSIONER OF INCOME TAX, PANAJI, GOA

The appeal of the assessee is PARTLY ALLOWED in aforestated terms

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliassessment Years: 2013-14 Bandekar Brothers Pvt. Ltd. Post Box No. 11, Suvarna Bandekar Bldg., Swatantra Path, Vasco-Da-Gama Goa-403802 Pan: Aaacb5502B . . . . . . . Appellant V/S Asstt. Commissioner Of Income Tax, Circle-2(1), Panaji, Goa. . . . . . . . Respondent Represented Assessee By: Mr Pramod & Mr Shriniwas Deshpande [‘Ld. Ar’] Revenue By: Mr M Satish & Mr Renga Rajan [‘Ld. Dr’] Date Of Conclusive Hearing : 12/01/2026 Date Of Pronouncement : 11/02/2026 Order Per G. D. Padmahshali; This Assessee’S Appeal Filed U/S 253(1) Of The Income-

gains under the provisions of the Act when transferred. Once the nature & character of transaction is established as capital acquisition, then; (a) the mode/nomenclature of payment in acquiring such capital asset, (b) the frequency of payment such as annual, term basis or onetime etc., and (c) the stage of discharge of payment towards viz; first instance/grant

M/S R. S. SHETYE & BROS,PANAJI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -1(1), PANAJI

In the result, the appeal filed by the assessee is partly allowed

Bench: Shri Pavan Kumar Gadale & Shri G D Padmahshalii T A. No.37/Pan/2023 (A.Y.2016-17) R.S.Shetye & Bros, Vs Acit 1(1), Flat.No.14, 1 St Floor, Aaykar Bhavan, . Trionara Apartments, Edc, Patto, New Muncipal Market, Panjim Panaji- Goa-403001. Goa-403001. Pan .No.Aabfr9785N (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent)

gains and such expenditure incurred for acquiring such lease hold right including expenditure towards renewal of mining lease is a capital expenditure. The Ld.AR contentions are that the expenditure of payment of stamp duty and registrations charges are legal expenses in connection with the renewal of lease and is allowable as revenue expenditure. The Ld.AR highlighted the receipt

RANJANA NAIK MIRSANGKAR,BEGIM vs. INCOME TAX OFFICER, WARD - 2(1), PANAJI

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliita Nos. 145/Pan/2024 Assessment Year : 2015-16 Ranjana Naik Mirsangkar H.No. 614, Walkeshwar Wada, Betim, Bardez, North Goa, Goa Pan : Aldpn9981B . . . . . . . Applicant V/S Income Tax Officer, Ward-2(1), Goa. . . . . . . . Respondent Appearances Assessee By : Mr Rahul Sarda [‘Ld. Ar’] Revenue By : Mr M Satish [‘Ld. Dr’] सुनवाई की तारीख / Date Of Conclusive Hearing : 25/02/2025 घोषणा की तारीख / Date Of Pronouncement : 04/03/2025 Order Per G. D. Padmahshali; The Captioned Appeal Of The Assessee Impugns Din & Order Itba/Nfac/S/250/2024-25/1064227170(1) Dt. 19/04/2024 Passed By The National Faceless Appeal Centre, Delhi [‘Ld. Nfac’ Hereinafter] U/S 250 Of The Income-Tax Act, 1961 [‘The Act’ Hereinafter] Which In Turn Arisen Out Of Order Of Assessment Dt. 16/03/2023 Passed U/S 147 R.W.S. 144 R.W.S. 144B Of The Act By The National Faceless E-Asstt Centre [‘Ld. Ao’ Hereinafter] Anent To Assessment Year 2015-16 [‘Ay’ Hereinafter].

long-term capital gain accrued to the assessee and framed the consequential assessment u/s 147 r.w.s. 144 r.w.s

SHRI FREMIOTH SAVIO MENEZES,CARANZALEM, GOA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 1(1), PANAJI

In the result, this appeal by the assessee is allowed

Bench: Shri Shamim Yahya, Am & Shri Ram Lal Negi, Jm

long term capital gain (LTCG) of Rs.1,52,36,235/- on transfer of his immovable property. The assessee

ALICE LOURDES MARTINS,CHINCHINIM vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, PANAJI

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliita Nos. 039/Pan/2025 Assessment Year : 2018-19 Alice Lourdes Martins 404, 1St-Palvem, Chinchinim Salcete, South Goa, Goa Pan : Abkpl2128D . . . . . . . Appellant

long- ITAT-Panaji Page 2 of 5 Alice Lourdes Martins Vs ACIT, Panaji ITA Nos.039/PAN/2025 AY: 2018-19 term capital gain

GUALA CLOSURES (INDIA) PVT. LTD.,PANAJI vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX, PANAJI., SELECT CITY

Appeal is dismissed in above terms

Bench: Shri Satbeer Singh Godara & Dr. Dipak Ripote

long term benefits, and were required to be treated as a capital expenditure. The AO had allowed deduction of this expenditure without inquiring into the claim. 3. Accordingly, a notice dated 22.02.2019 was issued to the assessee proposing to pass an appropriate order u/s 263 of the Act, since the assessment order passed by the Assessing Officer was erroneous

THE ADARSH CO-OP. CREDIT SOCIETY LIMITED.,BELAGAVI vs. INCOME TAX OFFICER, WARD -1(2), BELAGAVI

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawalita Nos.26 To 28/Pan/2019 Assessment Year: 2009-10, 2012-13 & 2013-14 The Adarsh Co-Op. Credit Ito, Ward-1(2), Society Ltd. Bagalkot Vs. A-P: Jugul, Tal: Athani, Dist: Belgaum-591252. Pan: Aaaas 5616 H (Appellant) (Respondent) Present For: Appellant By : Shri Pramod Vaidhya, Advocate Respondent By : Shri Mayur Kamble, Sr. Dr Date Of Hearing : 17.06.2022 Date Of Pronouncement : 30.08.2022 O R D E R Per Girish Agrawal: These Appeals Filed By The Assessee Are Directed Against Different Orders Of Learned Commissioner Of Income Tax (Appeals) – Belagavi In Ita No. Cit(A)/Bgm/10349/2015-16, Cit(A)/Bgm/10518/2014-15 & Cit(A)/Bgm/10136/2015-16 All Dated 27.12.2018. The Assessments Were Framed By The Ito, Ward-1(2), Belgaum U/S 143(3) R.W.S. 254 Of The Income-Tax Act, 1961 (Hereinafter ‘The Act’), For The Assessment Year 2009-10 Vide Order Dated 27.12.2018 & For The Assessment Years 2012-13 & 2013-14 U/S 143(3) Of The Act Vide Order Dated 30.09.2014 & 24.08.2015. 2. The Only Issue In These Three Appeals Of Assessee Is As Regards To The Order Of Cit(A) Confirming The Denial Of Claim Of Deduction U/S 80P(2)(A)(I) Of The Act. The Assessee Has Raised Identical Grounds In All The Appeals & Hence, We Take The Facts & Grounds From Ita No. The Adarsh Co-Operative Credit Society Ltd. A.Y. 2009-10, 2012-13 & 2013-14 26/Pan/2019 For The Assessment Year 2009-10. The Relevant Grounds Raised By Assessee Are Reads As Under:

capital and reserves of which are not less than one lakh of rupees and iii. The bye laws of which do not permit admission of any other co- operative society as a member. He noted that the assessee is a registered Co-operative Society under the Co-operative Societies Act, 1959 and treated it as a Primary

THE ADARSH CO-OP. CREDIT SOCIETY LIMITED.,BELAGAVI vs. INCOME TAX OFFICER, WARD -1(2), BELAGAVI

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawalita Nos.26 To 28/Pan/2019 Assessment Year: 2009-10, 2012-13 & 2013-14 The Adarsh Co-Op. Credit Ito, Ward-1(2), Society Ltd. Bagalkot Vs. A-P: Jugul, Tal: Athani, Dist: Belgaum-591252. Pan: Aaaas 5616 H (Appellant) (Respondent) Present For: Appellant By : Shri Pramod Vaidhya, Advocate Respondent By : Shri Mayur Kamble, Sr. Dr Date Of Hearing : 17.06.2022 Date Of Pronouncement : 30.08.2022 O R D E R Per Girish Agrawal: These Appeals Filed By The Assessee Are Directed Against Different Orders Of Learned Commissioner Of Income Tax (Appeals) – Belagavi In Ita No. Cit(A)/Bgm/10349/2015-16, Cit(A)/Bgm/10518/2014-15 & Cit(A)/Bgm/10136/2015-16 All Dated 27.12.2018. The Assessments Were Framed By The Ito, Ward-1(2), Belgaum U/S 143(3) R.W.S. 254 Of The Income-Tax Act, 1961 (Hereinafter ‘The Act’), For The Assessment Year 2009-10 Vide Order Dated 27.12.2018 & For The Assessment Years 2012-13 & 2013-14 U/S 143(3) Of The Act Vide Order Dated 30.09.2014 & 24.08.2015. 2. The Only Issue In These Three Appeals Of Assessee Is As Regards To The Order Of Cit(A) Confirming The Denial Of Claim Of Deduction U/S 80P(2)(A)(I) Of The Act. The Assessee Has Raised Identical Grounds In All The Appeals & Hence, We Take The Facts & Grounds From Ita No. The Adarsh Co-Operative Credit Society Ltd. A.Y. 2009-10, 2012-13 & 2013-14 26/Pan/2019 For The Assessment Year 2009-10. The Relevant Grounds Raised By Assessee Are Reads As Under:

capital and reserves of which are not less than one lakh of rupees and iii. The bye laws of which do not permit admission of any other co- operative society as a member. He noted that the assessee is a registered Co-operative Society under the Co-operative Societies Act, 1959 and treated it as a Primary