ACIT, CIRCLE - 2(1), PANAJI vs. M/S JAY RAM ORE CARRIERS, VASCO

In the result, the appeal filed by the Revenue stands allowed

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita No.227/Pan/2018 िनधा"रण वष" / Assessment Year : 2014-15 Acit, Circle-2(1), Panaji, Vs. M/S. Jay Ram Ore Goa. Carriers, 2Nd Floor, Sunflower Appts, Opp. St. Andrew Church, Vasco, Goa. Pan : Aaffj0752R Appellant Respondent Revenue By : Shri N. Shrikanth Assessee By : Shri R. D. Onkar Date Of Hearing : 16.08.2023 Date Of Pronouncement : 29.08.2023 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Revenue Directed Against The Order Of Ld. Commissioner Of Income Tax (Appeals)-2, Panaji [‘The Cit(A)’] Dated 30.03.2018 For The Assessment Year 2014-15. 2. Briefly, The Facts Of The Case Are That The Respondent-Assessee Is A Partnership Firm Engaged In The Business Of Operation Of Barge Of Contract. The Return Of Income For The Assessment Year 2014-15 Was Filed By The Appellant Firm On 29.07.2014 Declaring Total Income

section 40(b)(v) read with Explanation 3 thereto, the income as disclosed in the Profits & Loss Account alone has to be considered, accordingly, directed the Assessing Officer to delete the addition made on account of excess partners’ remuneration of Rs.1,38,95,958/-. As regards to the set-off of the brought forward business loses against the capital gains

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)

section 270A(10) of the Act. Whereas the long term capital gains could not be offered in the return of income of A.Y.2017-18, since the appeal for A.Y.2014-15 was pending before the CIT(A) at time of filling the return of income.Further there is no intention to under report the income or to avoid the Appayya Karveerappa Kottarshetty. payment

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-

gain tax. 20. In context of renewal giving rise to capital asset, we note that, considering former judicial precedents their Hon’ble lordships in ‘Rajendra Mining Syndicate Vs CIT’ [1961, 43 ITR 460 (AP)] have also echoed that, renewal of mining-lease endows enduring benefit for a term and confers various rights hence is not a commodity but an asset

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

capital or revenue. The 'once for all' payment test is also inconclusive. What is relevant is the purpose of the outlay and its intended object and effect, considered in a commonsense way having regard to the business realities." (p. 379) 8 ITA.No.205/PAN./2019 In the case of this assessee, it is found that the claim of expenses under

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 A.O find that the stamp duty paid for the renewal of mining lease is towards the execution of the lease deed is a capital expenditure being the acquisition of capital asset u/sec2

M/S CHARIS AGRO AND COLD STORAGE,BELGAVI vs. PRINCIPAL COMMISSIONER OF INCOME TAX, BELGAVI

In the result, the appeal of assessee is dismissed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Ravi

section 45(4) of the Act and by mistake there was no direction given in the said order. He vehemently argued that the Pr. CIT is the well within its jurisdiction issuing a direction u/s. 154 of the Act and prayed to dismiss the appeal of assessee. 4. After hearing both the parties, we find the Pr. CIT raised

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)

section 54EC of the Act has determined the taxable Long term capital gains of Rs,3,77,800/- and assessed the total income of Rs.6,78,066/-and passed the order u/sec153r.w.s144 of the Act dated 24.03.2022. 4. Aggrieved by the order, the assesse has filed an appeal before the CIT(A), whereas the CIT(A) has considered

EMCO GOA PRIVATE LIMITED,MARGAO vs. ASST. DIRECTOR OF INCOME TAX, CPC, BENGALURU

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

Bench: Shir Pavan Kumar Gadale & Shri Gd Padmahshaliemco Goa Pvt Ltd, Vs. Adit, Cpc, Prasad Rawanfond, Bengaluru-560500. Aquea, Baixo,Navelim, Kar Margoa-403707, Goa. Nataka. "थायी लेखा सं./जीआइआर सं./Pan No.Aaace3064F Appellant .. Respondent

section 115JB of the Act of Rs.2,50,81,166/-. Subsequently, the return of income was processed with addition of profit and restricting the carry forward of loss to Rs.55,02,853/- as against Rs.72,19,222/- claimed by the assessee and the order u/sec 143(1) of the Act was passed on 22.10.2020. 3. Aggrieved by the order

COMMUNIDADE OF CHICALIM,CHICALIM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 2(1), PANAJI

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

Bench: Shri Pavan Kumar Gadale & Shri G D Padmahshalii T A. No.207/Pan/2024 (A.Y. 2016-17 ) Comunidade Of Chicalim, Vs Acit Circle 2(1), Ground Floor, St Xavier Aaykar Bhavan, . Church Building, Edc, Patto, Chicalim-403802, Panjim South Goa,Goa. Goa-403001. Pan .No. Aaaabc0196P (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent)

capital gains of Rs.1,65,74,350/-. The A.O find that the assessee could not carried forward the loss for eight assessment years immediately succeeding the A.Y.2007-08, and such loss can be set off till A.Y.2015-16. 3. The A.O dealt on the provisions of section 74 of the Act and the code of comunidades, and considered the details of carried

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 of 5,86,66,512) between the above stamp duty value and actual sale consideration to the returned Income of the appellant in his assessment order by wrongly Invoking the provisions of section

M/S SHIRAGAO PRATHAMIK KRISHI PATTIN SAHAKARI BANK NIYAMIT,BELAGAVI vs. INCOME TAX OFFICER, WARD - 1(3), BELAGAVI

The appeals of the assessee are allowed

Bench: Shri Satbeer Singh Godara

5 Primary Co-operative Society means a Co- Society operative society other than a primary agricultural credit society – (1) the primary object or principal business of which is the transaction of banking business; (2) the paid up share capital and reserves of which are not less than one lakh of rupees; and (3) the bye laws of which

SONALI MAHENDRA NAIK GAUNEKAR,PANAJI vs. INCOME TAX OFFICER, WARD - 1(1), PANAJI

The appeal of the assessee is partly allowed for statistical purpose

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

5,75,17,590/-. The case of the assessee, after recording reasons and obtaining approval from competent authority by notice dt. 19/02/2020 u/s 148 of the Act, was reopened for re-assessing difference of capital gain arising out of deviation in sale consideration recorded/shown vis-à-vis stamp duty valuation adopted in relation sale of immovable property. Invoking provisions

SONALI MAHENDRA NAIK GAUNEKAR,PANAJI vs. ASST. UNIT, NFAC, I. T. DEPARTMENT, DELHI

The appeal stands allowed for statistical purposes

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

5,75,17,590/-. The case of the assessee, after recording reasons and obtaining approval from competent authority by notice dt. 19/02/2020 u/s 148 of the Act, was reopened for re- assessing difference of capital gain arising out of deviation in the value of sale consideration recorded/shown vis-à-vis stamp duty valuation adopted in relation sale of immovable property

DINKAR KASHIMATH PATIL,MARCELA vs. INCOME TAX OFFICER-W-1(3),PANAJI, PANAJI

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

Bench: Shri Pavan Kumar Gadale & Shri G D Padmahshalii T A. Nos.10/Pan/2025 (A.Y. 2018-19 ) Dinkar Kashimath Patil, Vs National Faceless H.No.322/3,Ganpatiwada, Assessment Centre, . Near Graceland,Khandola, Delhi. Marcela, Ponda-403107, . Goa. Pan/Gir No. Ajjpp9976E (अपीलाथ"/Appellant) (""यथ"/Respondent)

section 194IA of the Act The Assessing Officer has reason to believe that the income has escaped assessment and issued notice u/sec148 of the Act. And further notice u/sec142(1) of the Act was issued to furnish the details. Since, no explanations/details were filed, the AO considering the information available on record has invoked the provisions

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

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

Bench: Shri Pavan Kumar Gadale & Shri G D Padmahshalii T A. No.116/Pan/2024 (A.Y. 2017-18) Shree Mahila Credit Souhard Vs Ito-Ward-2, Sahakari Sangh Niyamit, Feroj Khimjibhai Cpx, . Shop.No.3, Maruti Complex, Civil Hospital Road 2 Nd Railway Gate, Tilakwadi, Belagavi-590001. Belgaum-500006, Karnataka. Karnataka. . Pan .No. Aabas9244A (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Assessee By Shri.Pramod Y Vaidya.Ar Revenue By Smt.Rijula Uniyal.Sr.Dr सुनवाई की तारीख/Date Of Hearing 09.02.2026 घोषणा की तारीख/Date Of Pronouncement 13.02.2026 Order Per Pavan Kumar Gadale, Jm: The Appeal Is Filed By The Assesse Against The Order Of The Nfac/Cit(A) Passed U/Sec 143(3) & U/Sec 250 Of The Act. The Assessee Has Raised The Grounds Of Appeal Challenging The Order Of The Cit(A) Partially Sustaining The Denial Of Claim Of Deduction U/Sec80P(2)(A)(I) Of The Act Made By The Assessing Officer & Without Prejudice Alternate Relief U/Sec80P(2)(D) Of The Act & Sustaining Denial Of Deduction Of Interest On Income Tax Refund Under Section 80P(2)(A)(I) Of The Act.

5. We have heard the Ld. Authorized Representative of the parties to the Appeals, perused the order passed by the Lower Revenue Authorities and documents available on record in the light of the law applicable thereto. 6. Undisputedly Assessee Society has invested is surplus funds with Co-Operative banks and earned the interest income to the tune

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

capital gain accrued her and framed consequential assessment u/s 153C r.w.s. 144 of the Act. 3. Aggrieved by the ex-parte assessment the assessee instituted an appeal thereagainst before Ld. CIT(A), which also came to be dismissed ex-parte owning to non- prosecution and in the absence of evidences. Dissatisfied by impugned ex-parte order, the assessee came

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), PANAJI, AYAKAR BHAWAN vs. VPK URBAN COOPERATIVE CREDIT SOCIETY , VPK BHAWAN

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

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

5. We have heard the Ld. Authorized Representative of the parties to the Appeals, perused the order passed by the Lower Revenue Authorities and documents available on record in the light of the law applicable thereto. 6. Undisputedly Assessee Society has invested is surplus funds with Co-Operative banks and earned the interest income to the tune

THE ADARSH MULTIPURPOSE CO-OPERATIVE SOCIETY,BELAGAVI vs. INCOME TAX OFFICER WARD 1-(2) , 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

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

5. We have heard the Ld. Authorized Representative of the parties to the Appeals, perused the order passed by the Lower Revenue Authorities and documents available on record in the light of the law applicable thereto. 6. Undisputedly Assessee Society has invested is surplus funds with Co-Operative banks and earned the interest income to the tune