PRIYANKA AGARWAL,DONA PAULA vs. INCOME TAX OFFICER, WARD - 1(4), PANAJI

In the result, the appeal of the assessee is allowed

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawalassessment Year: 2014-15 Mrs. Priyanka Agarwal Ito, Ward-1(4), Panaji, Goa House No. 28-Y, Machado Residential Cove, Vs. Vainguinim Valley, Donapaula, Goa-403004. Pan: Bjkaps 3952 B (Appellant) (Respondent) Present For: Appellant By : Shri Shrinivas Nayak, Ca Respondent By : Shri Mayur Kamble, Sr. Dr Date Of Hearing : 16.06.2022 Date Of Pronouncement : 02.09.2022 O R D E R Per Girish Agrawal: This Appeal By The Assessee Is Arising Out Of The Order Of Ld. Cit(A)-2, Panaji In Ita No.233/Cit(A)-2/Pnj/2017-18 Dated 24.08.2018 Against The Order Passed By Ito, Ward-1(4), Panaji U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Referred To As The ‘Act’) Dated 27.12.2016 For A.Y. 2014-15. 2. The Grounds Taken By The Assessee In The Present Appeal Are Reproduced As Under:

Capital Gains” the claim of the assessee regarding exemption u/s. 10(38) is disallowed and Rs.43,48,421/- are brought

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

disallowances, the appellant firm had filed an appeal before the ld. CIT(A) contending that the quantum of remuneration allowable u/s 40(b)(v) read with Explanation 3 thereto should be computed based on the net profit as disclosed in Profit & Loss Account, irrespective of under which head of income is to be taxed. As regards

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 of this, Ground No.1 of the assesses’ appeal against the disallowance

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 of this, Ground No.1 of the assesses’ appeal against the disallowance

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

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)

disallowance of interest claimed against the capital gains amounting to Rs.20,55,704/- in the hands of the communion and 50% thereof

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

disallowance of long term Capital loss claimed on transfer of shares of its subsidiary company. In respect of deduction 3 u/s 80HHC, the ITAT has confirmed the inclusion of construction receipts for the purpose of explanation (baa) to Sec. 80HHC. 5. The assessee was given an opportunity by the AO, vide letter dated 2.03.09 to file its submission

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-

disallowance of Renewal Charges of Mining Lease of Rs16,00,00,000/- He failed to appreciate that the learned Assessing Officer was wrong in holding the expenditure as Capital Expenditure. He ignored the fact that the appellant was in mining business since past several years in the same mine, hence charges for renewal of mining lease was entirely a revenue

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

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.

disallowed any expenditure u/s. 14A of the Act. Before the AO, the assessee submitted that its investment activities yielded the following incomes during the year: (i) dividend income of Rs.42,77,266/- claimed as exempt u/s. 10(34) of the Act; (II) long term capital gains

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

capital gain of ₹2,93,33,256/- to tax as undisclosed income vide an assessment order dt. 29/09/2021 framed u/s 147 of the Act. Subsequently, the Ld. PCIT invoked the provisions of section 263 and by order dt. 19/04/2024 set-aside the former order for fresh assessment for Ld. AO’s failure to conduct inquiry. ITAT-Panaji Page

VEERENDRA BASAVARAJ KOUJALAGI,BELAGAVI vs. CIRCLE 1 BELAGAVI, BELAGAVI

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

Bench: Shri Pavan Kumar Gadalei T A. No.289/Pan/2025 (A.Y.2010-11) Veerendra Basavarajkoujalagi Vs Ito-Circle 1, Shri. Laxmi Complex,1St Cross Chessonroad, . Apmc Road,Sadashivnagar, Dr.Ambedkar Road, Belagavi-590001, Belagavi-590001. Karnataka. Karnataka. Pan .No. Agrpk3086D (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent)

disallowance u/sec43B of the Act of Rs.27,483/-(iii) operation and maintenance charges of wind mill of Rs.5,97,139/- treated as capital expenditure (iv) income under profit and gains

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

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 in this second appeal seeking to overturn former deletion. ITAT-Panaji Page 3 of 20 DCIT Vs Esteem Industries

INFRASTRUCTURE LOGISTICS PVT. LTD.,DONA PAULA vs. JOINT COMM. OF INCOME TAX, RANGE - 1, PANAJI

In the result, appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita No. 380/Pan/2017 "नधा"रण वष" / Assessment Year : 2009-10 Infrastructure Logistics Pvt. Ltd. Cidade De Goa, Vainguinim Beach, Dona Paula, Goa-403 004. Pan : Aaaci9107R .......अपीलाथ" / Appellant बनाम / V/S. The Joint Commissioner Of Income Tax, Range-1, Panaji-Goa, ……""यथ" / Respondent आयकर अपील सं. / Ita No. 381/Pan/2017 "नधा"रण वष" / Assessment Year : 2009-10 The Assistant Commissioner Of Income Tax, Central Circle, Panaji-Goa, .......अपीलाथ" / Appellant बनाम / V/S.

capital expenditure and have been incurred by the assessee company in order to facilitate running of its business of mining smoothly, i.e., without any disturbance from the people in the surrounding villages thus, being in the nature of an expenditure incurred by the assessee wholly and exclusively for the purpose of its business was allowable as a deduction

ASSTT. COMM. OF INCOME TAX, CENTRAL CIRCLE, PANAJI vs. INFRASTRUCTURE LOGISTICS PVT. LTD., DONA PAULA

In the result, appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita No. 380/Pan/2017 "नधा"रण वष" / Assessment Year : 2009-10 Infrastructure Logistics Pvt. Ltd. Cidade De Goa, Vainguinim Beach, Dona Paula, Goa-403 004. Pan : Aaaci9107R .......अपीलाथ" / Appellant बनाम / V/S. The Joint Commissioner Of Income Tax, Range-1, Panaji-Goa, ……""यथ" / Respondent आयकर अपील सं. / Ita No. 381/Pan/2017 "नधा"रण वष" / Assessment Year : 2009-10 The Assistant Commissioner Of Income Tax, Central Circle, Panaji-Goa, .......अपीलाथ" / Appellant बनाम / V/S.

capital expenditure and have been incurred by the assessee company in order to facilitate running of its business of mining smoothly, i.e., without any disturbance from the people in the surrounding villages thus, being in the nature of an expenditure incurred by the assessee wholly and exclusively for the purpose of its business was allowable as a deduction

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

disallowance - Rs. 1,03,697.00 3. The AO also initiated penalty proceedings u/s 271(1)(c) of the Act and a penalty of Rs.9,90,009/- 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

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

disallowance - Rs. 1,03,697.00 3. The AO also initiated penalty proceedings u/s 271(1)(c) of the Act and a penalty of Rs.9,90,009/- 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

VGM EXPORT,VASCO vs. JOINT COMMISSIONER OF INCOME TAX, MARGAO

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliita Nos. 114/Pan/2023 Assessment Year : 2010-11 Vgm Export Suvarn Bandekar Building, Swatantra Path, Vasco, Goa Pan : Aaafv6197P . . . . . . . Applicant V/S Joint Commissioner Of Income Tax, Margao Range, Margao. . . . . . . . Respondent Appearances Assessee By : Mr P B Deshpande [‘Ld. Ar’] Revenue By : Mr Ravindra Hattalli [‘Ld. Dr’] सुनवाई की तारीख / Date Of Conclusive Hearing : 20/02/2025 घोषणा की तारीख / Date Of Pronouncement : 25/02/2025

disallowing Rs 1,14,11,643/- towards loss on balances maintained in EEFC account considering the same as notional and also capital in nature. The ld. AO and the Hon. CIT(A) have incorrectly applied the rationale on the Hon. Delhi HC in the matter of Philips Petroleum International Corp. in the current case.’ 4. During the course of hearing