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

In the result, the appeal is allowed

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

90,009/- was imposed. In appeal, the learned CIT(A), Panaji, sustained the additions made as well as the penalty imposed by the AO. 4. The learned counsel for the assessee, placing reliance on various decisions including the decision of the Hon'ble Karnataka High in the case of CIT vs. Manjunath Cotton & Ginning Factor

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

In the result, the appeal is allowed

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

90,009/- was imposed. In appeal, the learned CIT(A), Panaji, sustained the additions made as well as the penalty imposed by the AO. 4. The learned counsel for the assessee, placing reliance on various decisions including the decision of the Hon'ble Karnataka High in the case of CIT vs. Manjunath Cotton & Ginning Factor

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), PATTO PLAZA vs. ESTEEM INDUSTRIES PRIVATE LIMITED, PLOT

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

90,816 viz; (i) addition of representing modvat/cenvat credit attributable to closing inventory u/s 145A of the Act and (ii) disallowance of capital expenditure of ₹1,94,57,703/- relating to technical know-how. Aggrieved by the first addition, the assessee filed an appeal which the Ld. NFAC allowed by reversing the alleged addition. Aggrieved thereby the Revenue came

M/S SOVA,PANAJI vs. PR. COMMISSIONER OF INCOME TAX, PANAJI

The appeal of the assessee is PARTLY ALLOWED in aforestated terms

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliassessment Years: 2018-19 M/S Sova Salgaocar Bhavan, Altinho, Panaji, Goa-403001. Pan: Aacfs8862Q . . . . . . . Appellant V/S Pr. Commissioner Of Income Tax, Panaji, Goa. . . . . . . . Respondent

90,40,717/- of which current year business losses including unabsorbed depreciation of ₹3,21,300/- were ₹27,38,53,538/-. The return of the assessee was selected for scrutiny by issue of notice u/s 143(2) of the Act dt. 22/09/2019 and the consequential assessment u/s 143(3) of the Act was completed wherein; (i) in the absence

SHRI NITIN A SHIRGURKAR,BELGAVI vs. PR. CIT, HUBBALI

In the result, the appeal of the assessee is allowe

Bench: Dr. M. L. Meena & Shri Anikesh Banerjee

Gain on sale of land or building 3.3 The ld. Counsel for the assessee, Shri Pramod Vaidhy The ld. Counsel for the assessee, Shri Pramod Vaidhya, further drew our , further drew our attention to the order of the ld. Pr. CIT, wherein at page 5 para 4, the ld. Pr. CIT has attention to the order