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43 results for “capital gains”+ Section 10(23)clear

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Key Topics

Condonation of Delay29Section 14A19Section 143(3)17Section 80I16Disallowance12Addition to Income11Section 2638Section 143(2)6Section 271(1)(c)6

ACIT, CENTRAL CIRCLE, PANAJI vs. M/S SOCIADADE DE FOMENTO INDUSTRIAL P. LTD, MARGAO

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

ITA 116/PAN/2018[2010-11]Status: DisposedITAT Panaji12 Sept 2022AY 2010-11

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawal

For Appellant: Sh. Nishant Thakkar, AdvocateFor Respondent: Sh. Ranjan Kumar, CIT-DR
Section 143(1)Section 143(2)Section 14A

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 No. 2(a) and 2(b) of the assessee

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

Showing 1–20 of 43 · Page 1 of 3

Section 143(1)5
Section 2744
Depreciation4

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

ITA 105/PAN/2018[2010-11]Status: DisposedITAT Panaji12 Sept 2022AY 2010-11

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawal

For Appellant: Sh. Nishant Thakkar, AdvocateFor Respondent: Sh. Ranjan Kumar, CIT-DR
Section 143(1)Section 143(2)Section 14A

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 No. 2(a) and 2(b) of the assessee

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

ITA 230/PAN/2017[2010-11]Status: DisposedITAT Panaji31 Mar 2022AY 2010-11

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

For Appellant: Shri D.E. Robinson, ARFor Respondent: Shri Sourabh Nayak, Sr. DR
Section 143(2)Section 143(3)

23,34,144/-. It is contended by appellant that sale of mud/soil from agricultural land amounts to sale of agricultural land itself hence long term capital gain is claimed on the transaction. 5.6 The Assessing Officer has held the sale of iron ore waste is derived from mining activity and is therefore a business asset. He has pointed out that

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

ITA 38/PAN/2025[2013-14]Status: DisposedITAT Panaji11 Feb 2026AY 2013-14

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-

For Appellant: Mr Pramod & Mr Shriniwas Deshpande [‘Ld. AR’]For Respondent: Mr M Satish & Mr Renga Rajan [‘Ld. DR’]
Section 143(1)Section 143(2)Section 143(3)Section 14ASection 2(14)Section 246ASection 250Section 253(1)Section 37(1)

10. We have heard the rival party’s submission & arguments, subject to rule 18 of Income Tax Appellate Rules, 1963 [‘ITAT-Rules’] perused the material placed on records and considered the facts of the case in the light of settled position of law which were primed to the respective parties for their rebuttal. ITAT-Panaji Page

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

ITA 37/PAN/2023[2016-17]Status: DisposedITAT Panaji27 Feb 2026AY 2016-17

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)

Section 3

10 ITA. No.37/PAN/2023 R.S.Shetye and Bros. undertaken and includes the non-mineralised area required and approved for the activities falling under the definition of mine as referred to in clause (i); (aa) ‘Minerals’ means all minerals except mineral oils. (c) ‘Mining Lease; means a lease granted for the purpose of undertaking mining operations, and includes a sub-lease granted

M/S CHOWGULE AND COMPANY (SALT) PVT. LTD,MORMUGAO vs. THE ACIT, CIRCLE - 2, MARGAO

The appeal of the assessee is partly allowed in terms of aforesaid observation

ITA 390/PAN/2017[2012-13]Status: DisposedITAT Panaji29 Apr 2022AY 2012-13

Bench: Shri Ravish Sood & Shri Jamlappa D. Battullआयकर अपील सं. / Ita No. : 390/Pan/2017 करधििाारण वर्ा / Assessment Year : 2012-2013 M/S Chowgule & Company (Salt) Pvt Ltd., Chowgule House, Mormugao Harbour, Goa – 403803. Pan: Aabcc 5595 J . . . . . . . अपीलार्थी / Appellant बिाम / V/S Asstt. Commissioner Of Income Tax, Circle-2, Margao, Goa. . . . . . . . प्रत्यर्थी / Respondent द्वारा / Appearances Assessee By : Ms Hiral Sejpal Revenue By : Shri Sourabh Nayak सुनवाई की तारीख / Date Of Conclusive Hearing : 24/02/2022 घोषणा की तारीख / Date Of Pronouncement : 29/04/2022 आदेश / Order Per Jamlappa D Battull Am; The Present Appeal Filed By The Appellant Assessee Is Directed Against The Order Of Commissioner Of Income Tax- Appeals, Panaji-1 [For Short “Cit(A)”] Dt. 09/10/2017 Passed U/S 250 Of The Income-Tax Act, 1961 [For Short “The Act”], Which In Turn Tousled Out Of Order Of Assessment Of Assistant Commissioner Of Income Tax-Circle-2, Margoa [For Short “Ao”] Dt. 27/07/2014 Passed U/S 143(3) Of The Act, For The Assessment Year [For Short “Ay”] 2012-2013. Itat-Panaji Page 1 Of 23

For Appellant: Ms Hiral SejpalFor Respondent: Shri Sourabh Nayak
Section 10(35)Section 115JSection 143(3)Section 14ASection 14A(1)Section 250

capital, the appellant claims that, no interest expenditure was indeed incurred for earning exempt dividend income stands tall and de fact remained uncontroverted by the Ld. DR, consequently the ITAT-Panaji Page 15 of 23 M/s Chowgule and Company (Salt) Pvt Ltd ITA No.: 390/PAN/2017, AY : 2012-2013, AABCC5595J disallowance made u/r 8D(2)(ii) remained baseless on records, hence

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

Appeal is dismissed in above terms

ITA 205/PAN/2019[2012-13]Status: DisposedITAT Panaji13 Oct 2023AY 2012-13

Bench: Shri Satbeer Singh Godara & Dr. Dipak Ripote

For Appellant: Shri Ketan VedFor Respondent: Shri P.S. Shivshankar, CIT-DR
Section 143(3)Section 144(3)Section 144CSection 253Section 263Section 4

23,30,850/- . A reference was made to the Transfer Pricing Officer and a Draft Assessment Order u/s 144C of the Income Tax Act, 19G1 was passed on 23.02.2016 determining the total income of Rs.99,48,28,460/- including adjustment u/s 4 ITA.No.205/PAN./2019 92C on account of Payment of Management Fees of Rs.3,04,33,012/-. The assessee

INCOME TAX OFFICER, WARD - 1(1), PANAJI vs. SHRI LALJI PURUSHOTTAM BABHOYYA PATEL, ALTINHO

In the result, the appeal is allowed

ITA 361/PAN/2018[2006-07]Status: DisposedITAT Panaji17 Aug 2022AY 2006-07

Bench: Shri C.M. Garg & Shri Girish Agrawalassessment Year: 2006-07 Ito, Vs. Shri Lalji Purshottam Dabhoyya Ward 1(1), Patel, Panaji, Hill View, Althinho, Goa. Panaji, Goa- 403 001. Pan: Abapd1169Q Assessment Year: 2006-07 Shri Lalji Purshottam Vs. Acit, Dabhoyya Patel, Circle -1(1), Hill View, Althinho, Panaji, Panaji, Goa- 403 001. Goa. Pan: Abapd1169Q (Appellant) (Respondent) Assessee By : Shri Jitendra Jain, Advocate Revenue By : Shri Mayur Kamble, Sr. Dr Date Of Hearing : 15.06.2022 Date Of Pronouncement : 17.08.2022 Order Per C.M. Garg, Jm: This Appeal Has Been Filed By The Assessee Against The Order Of The Cit(A), Panaji-1, Dated 31.05.2018 For Assessment Year 2007-08. Ita Nos.361 & 339/Pan/2018 2. Facts Of The Case, In Brief, Are That The Assessee Is A Civil Contractor Carrying On The Business At Panaji, Goa. The Assessee Filed His Return Of Income Declaring The Total Income At Rs.9,02,333/-. The Ao Completed The Assessment U/S 143(3) Of The Act By Making The Following Additions:- I) Unexplained Cash Credit - Rs.27,33,000.00 Ii) Unconfirmed Creditors - Rs. 6,30,000.00 Iii) Depreciation Disallowance - Rs. 1,03,697.00

For Appellant: Shri Jitendra Jain, AdvocateFor Respondent: Shri Mayur Kamble, Sr. DR
Section 133ASection 143(3)Section 271Section 271(1)(c)Section 274Section 45

10. We have heard the arguments of both the sides and carefully perused the relevant material available on record. 11. The ld. CIT-DR strongly supported the first appellate order and submitted that the penalty imposed u/s 271(1)(c) of the Act may kindly be confirmed, whereas the ld. Counsel for the assessee drew our attention towards the relevant

SHRI LALJI PURSHOTTAM DABHOYYA PATEL,ALTINHO vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 1(1), PANAJI

In the result, the appeal is allowed

ITA 339/PAN/2018[2007-08]Status: DisposedITAT Panaji17 Aug 2022AY 2007-08

Bench: Shri C.M. Garg & Shri Girish Agrawalassessment Year: 2006-07 Ito, Vs. Shri Lalji Purshottam Dabhoyya Ward 1(1), Patel, Panaji, Hill View, Althinho, Goa. Panaji, Goa- 403 001. Pan: Abapd1169Q Assessment Year: 2007-08 Shri Lalji Purshottam Vs. Acit, Dabhoyya Patel, Circle -1(1), Hill View, Althinho, Panaji, Panaji, Goa- 403 001. Goa. Pan: Abapd1169Q (Appellant) (Respondent) Assessee By : Shri Jitendra Jain, Advocate Revenue By : Shri Mayur Kamble, Sr. Dr Date Of Hearing : 15.06.2022 Date Of Pronouncement : 17.08.2022 Order Per C.M. Garg, Jm: This Appeal Has Been Filed By The Assessee Against The Order Of The Cit(A), Panaji-1, Dated 31.05.2018 For Assessment Year 2007-08. Ita Nos.361 & 339/Pan/2018 2. Facts Of The Case, In Brief, Are That The Assessee Is A Civil Contractor Carrying On The Business At Panaji, Goa. The Assessee Filed His Return Of Income Declaring The Total Income At Rs.9,02,333/-. The Ao Completed The Assessment U/S 143(3) Of The Act By Making The Following Additions:- I) Unexplained Cash Credit - Rs.27,33,000.00 Ii) Unconfirmed Creditors - Rs. 6,30,000.00 Iii) Depreciation Disallowance - Rs. 1,03,697.00

For Appellant: Shri Jitendra Jain, AdvocateFor Respondent: Shri Mayur Kamble, Sr. DR
Section 133ASection 143(3)Section 271Section 271(1)(c)Section 274Section 45

10. We have heard the arguments of both the sides and carefully perused the relevant material available on record. 11. The ld. CIT-DR strongly supported the first appellate order and submitted that the penalty imposed u/s 271(1)(c) of the Act may kindly be confirmed, whereas the ld. Counsel for the assessee drew our attention towards the relevant

SAMARTH URBAN CO-OPERATIVE CREDIT SOCIETY LTD,BELGAUM vs. PR. COMMISSIONER OF INCOME TAX , BELAGAVI

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

ITA 152/PAN/2024[2020-21]Status: DisposedITAT Panaji28 Nov 2025AY 2020-21

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

10. The Grounds of Appeal raised in respect of sixth issue in the ITA.No.190/PAN/2024. Page 21 of 36 Akshaya Co-Op credit society Limited & others. The sixth disputed issue, where the AO and CIT(A) has not allowed the claim of deduction of interest income received from the cooperative society under section

VPK URBAN CO-OPERATIVE CREDIT SOCIETY,MARDOL, PONDA vs. INCOME TAX OFFICER, PANAJI

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

ITA 255/PAN/2024[2015-16]Status: DisposedITAT Panaji28 Nov 2025AY 2015-16

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

10. The Grounds of Appeal raised in respect of sixth issue in the ITA.No.190/PAN/2024. Page 21 of 36 Akshaya Co-Op credit society Limited & others. The sixth disputed issue, where the AO and CIT(A) has not allowed the claim of deduction of interest income received from the cooperative society under section

VARDHAMAN URBAN CO-OP CREDIT SOCIETY LTD,BELGAUM vs. INCOME TAX OFFICER WARD 4 BELGAUM, BELGAUM

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

ITA 42/PAN/2025[2017-2018]Status: DisposedITAT Panaji28 Nov 2025AY 2017-2018

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

10. The Grounds of Appeal raised in respect of sixth issue in the ITA.No.190/PAN/2024. Page 21 of 36 Akshaya Co-Op credit society Limited & others. The sixth disputed issue, where the AO and CIT(A) has not allowed the claim of deduction of interest income received from the cooperative society under section

VIVIDODDSHESHA PRATHAMIK GRAMEEN KRUSHI SAHAKARI SANGH NIYAMIT SOUDATTI,SOUDATTI vs. INCOME TAX OFFICER WARD-4, BELGAUM, BELGAUM

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

ITA 27/PAN/2025[2017-18]Status: DisposedITAT Panaji28 Nov 2025AY 2017-18

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

10. The Grounds of Appeal raised in respect of sixth issue in the ITA.No.190/PAN/2024. Page 21 of 36 Akshaya Co-Op credit society Limited & others. The sixth disputed issue, where the AO and CIT(A) has not allowed the claim of deduction of interest income received from the cooperative society under section

SHREE MAHILA CREDIT SOUHARD SAHAKARI SANGH NIYAMIT,BELAGAVI vs. ITO WARD 1 BELAGAVI, BELAGAVI

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

ITA 117/PAN/2024[2018-19]Status: DisposedITAT Panaji28 Nov 2025AY 2018-19

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

10. The Grounds of Appeal raised in respect of sixth issue in the ITA.No.190/PAN/2024. Page 21 of 36 Akshaya Co-Op credit society Limited & others. The sixth disputed issue, where the AO and CIT(A) has not allowed the claim of deduction of interest income received from the cooperative society under section

VPK URBAN CO-OPERATIVE CREDIT SOCIETY,MARDOL, PONDA vs. INCOME TAX OFFICER, PANAJI, GOA

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

ITA 286/PAN/2024[2017-18]Status: DisposedITAT Panaji28 Nov 2025AY 2017-18

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

10. The Grounds of Appeal raised in respect of sixth issue in the ITA.No.190/PAN/2024. Page 21 of 36 Akshaya Co-Op credit society Limited & others. The sixth disputed issue, where the AO and CIT(A) has not allowed the claim of deduction of interest income received from the cooperative society under section

KAIGA PROJECT EMPLOYEES THRIFT AND CREDIT SOCIETY,KARWAR vs. INCOME TAX OFFICER, WARD - 2, KARWAR

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

ITA 62/PAN/2025[2015-16]Status: DisposedITAT Panaji28 Nov 2025AY 2015-16

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

10. The Grounds of Appeal raised in respect of sixth issue in the ITA.No.190/PAN/2024. Page 21 of 36 Akshaya Co-Op credit society Limited & others. The sixth disputed issue, where the AO and CIT(A) has not allowed the claim of deduction of interest income received from the cooperative society under section

SHRI JAI JINENDRA SOUHARDA SAHAKARI SANGH NIYAMIT,BELAGAVI vs. NATIONAL E ASSESSMENT CENTRE, BELAGAVI

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

ITA 41/PAN/2025[2018-2019]Status: DisposedITAT Panaji28 Nov 2025AY 2018-2019

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

10. The Grounds of Appeal raised in respect of sixth issue in the ITA.No.190/PAN/2024. Page 21 of 36 Akshaya Co-Op credit society Limited & others. The sixth disputed issue, where the AO and CIT(A) has not allowed the claim of deduction of interest income received from the cooperative society under section

KUMTA ADIKE MARATA SOPUHARDA SAHAKARI SANGH NIYAMIT,KUMTA vs. INCOME TAX OFFICER, WARD - 2, KARWAR

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

ITA 153/PAN/2024[2020-21]Status: DisposedITAT Panaji28 Nov 2025AY 2020-21

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

10. The Grounds of Appeal raised in respect of sixth issue in the ITA.No.190/PAN/2024. Page 21 of 36 Akshaya Co-Op credit society Limited & others. The sixth disputed issue, where the AO and CIT(A) has not allowed the claim of deduction of interest income received from the cooperative society under section

AKSHAYA CO-OPERATIVE CREDIT SOCIETY LIMITED,KARWAR vs. INCOME TAX OFFICER, WARD - 1(1), KARWAR

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

ITA 158/PAN/2023[2014-15]Status: DisposedITAT Panaji28 Nov 2025AY 2014-15

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

10. The Grounds of Appeal raised in respect of sixth issue in the ITA.No.190/PAN/2024. Page 21 of 36 Akshaya Co-Op credit society Limited & others. The sixth disputed issue, where the AO and CIT(A) has not allowed the claim of deduction of interest income received from the cooperative society under section

VPK URBAN CO-OPERATIVE CREDIT SOCIETY,MARDOL, PONDA vs. INCOME TAX OFFICER, PANAJI

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

ITA 285/PAN/2024[2016-17]Status: DisposedITAT Panaji28 Nov 2025AY 2016-17

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

10. The Grounds of Appeal raised in respect of sixth issue in the ITA.No.190/PAN/2024. Page 21 of 36 Akshaya Co-Op credit society Limited & others. The sixth disputed issue, where the AO and CIT(A) has not allowed the claim of deduction of interest income received from the cooperative society under section