FOMENTO KARNATAKA MINING COMPANY PRIVATE LIMITED (NOW AMALGAMATED WITH FOMENTO RESOURCES PRIVATE LIMITED,PANAJI vs. JOINT COMMISSIONER OF INCOME TAX, MARGAO RANGE, MARGAO

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

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita No.26/Pan/2021 िनधा"रण वष" / Assessment Year : 2009-10 Fomento Karnataka Mining Vs. Jcit, Margao Range, Company Private Limited, Margao, Goa. (Now Amalgamated With Fomento Resources Private Limited), 102, 1St Floor, Kamat Metropolis-I, Behind Caculo Mall, St. Inez, Panaji, Goa- 403001. Pan : Aaacf7487K Appellant Respondent Assessee By : Shri Nishant Thakkar Revenue By : Shri N. Shrikanth Date Of Hearing : 17.08.2023 Date Of Pronouncement : 29.08.2023 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld. Commissioner Of Income Tax (Appeals)-2, Panaji [‘The Cit(A)’] Dated 27.08.2021 For The Assessment Year 2009-10. 2 2. Briefly, The Facts Of The Case Are That The Appellant Is A Company Incorporated Under The Provisions Of The Companies Act, 1956. It Is Engaged In The Business Of Processing & Trading In The Iron Ore. The Return Of Income For The Assessment Year 2009-10 Was Filed On 30.09.2009 Declaring Total Income Of Rs.26,40,77,220/-. Against The Said Return Of Income, The Assessment Was Completed By The Joint Commissioner Of Income Tax, Margao Range, Margao (‘The Assessing Officer’) Vide Order Dated 30.12.2011 Passed U/S 143(3) Of The Income Tax Act, 1961 (‘The Act’) At A Total Income Of Rs.26,63,57,955/-. While Doing So, The Assessing Officer Made Disallowance U/S 14A Of Rs.15,49,787/-, Disallowance On Account Of Sundry Creditors Extracting As Fictitious Of Rs.7,30,948/-. 3. Being Aggrieved, An Appeal Was Filed Before The Ld. Cit(A) Contending That No Disallowance U/S 14A Is Required To Be Made In The Absence Of Any Expenditure Incurred To Earn The Exempt Income. It Was Also Contended That No Addition On Account Of Outstanding Creditors Is Required To Be Made, As The Credits Represent The Opening

disallowance u/s 14A of the Act. The provisions of sub- section (2) of section 14A provides that resort to disallowance

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-

14A of the Act, (b) reversing later two consecutive disallowances made towards construction of roads/temples and disallowance of additional depreciation etc. The Ld. NFAC however, after recording his independent & concurrent findings in line with the findings rendered by the Ld. AO and placing reliance on alike judicial precedents, upheld the disallowance towards ‘stamp duty’ paid to State Government

VEERENDRA BASAVARAJ KOUJALAGI,BELAGAVI vs. PCIT HUBBALLI, HUBBALLI

Bench: Hon’Ble Shri Pavankumar Gadale & Shri G. D. Padmahshaliita Nos. 103/Pan/2024 Assessment Year : 2018-19 Veerendra Basavaraj Koujalagi C/O. Shri Laxmi Complex, Sadashiv Nagar, Belgavi-590001 Pan : Agrpk3086D . . . . . . . Appellant V/S The Pr. Commissioner Of Income Tax, Hubali. . . . . . . . Respondent Appearances Assessee By : Mr Shivanand Halbhavi [‘Ld. Ar’] Revenue By : Capt. Pradeep Arya [‘Ld. Dr’] Date Of Conclusive Hearing : 24/06/2025 Date Of Pronouncement : 28/07/2025 Order Per G. D. Padmahshali; The Assessee’S Captioned Appeal Impugns Din & Order 1063626985(1) Dt. 29/03/2024 Passed By Pr. Commissioner Of Income Tax, Hubali [‘Ld. Pcit’] U/S 263 Of The Income-Tax Act, 1961 [‘The Act’] Which Sought To Revise Order Of Assessment Dt. 26/04/2021 Passed U/S 143(3) R.W.S. 144B Of The Act By National Faceless E-Asstt. Centre, Delhi [‘Ld. Ao’] Anent To Assessment Year 2018-19 [‘Ay’].

section 14A of the Act, therefore there is much less subject/issue to adjudicate on merits in this case. On the other hand both the rival parties are in compelling agreement that, the revisionary action would turn bad in law if the subject matter/issue of disallowance of 14A falls outside the preview of scope of scrutiny assessment. ITAT-Panaji Page

DAMODAR MANGALJI & COMPANY LIMITED,PANAJI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 1(1), PANAJI

Appeals stands DISMISSED

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliita Nos. 034 & 035/Pan/2025 Assessment Year : 2011-12 & 2014-15 Damodar Mangalji & Company Ltd. Damodar Niwas, 1St Floor, Mc Road, Panaji, Goa-403001. Pan : Aaacd6880G . . . . . . . Appellant V/S Jt./Asstt. Commissioner Of Income Tax, Range-1/Circle-1(1), Goa. . . . . . . . Respondent Appearances Assessee By : Adv Rahul Sarda [‘Ld. Ar’] Revenue By : Mr M Satish [‘Ld. Dr’] Date Of Conclusive Hearing : 20/11/2025 Date Of Pronouncement : 18/12/2025 Order Per G. D. Padmahshali; The Captioned Twin Appeals Of Assessee Instituted U/S 253(1) Of The Income-Tax Act, 1961 [‘The Act’] Are Directed Against Separate Din & Order 1070138041(1) Dt. 08/11/2024 & 1070321994(1) Dt. 13/11/2024 Passed U/S 250 Of The Act By National Faceless Appeal Centre, Delhi [‘Ld. Nfac/Cit(A)’] Which Sprang From Assessment Orders Passed U/S 143(3) Of The Act Anent To Assessment Years 2011-12 & 2014-15 [‘Ay’].

14A of ₹22,200/- and (2) disallowance of capital expenditure of ₹20,70,58,100/- u/s 37(1) of the Act as, a sum paid to State Govt. for conversion of land for enduring period of 20 years. 6. Aggrieved assessee filed separate appeals before Ld. NFAC/CIT(A) and agitated the aforementioned disallowances/additions made in former twin assessments but remained

DAMODAR MANGALJI & COMPANY LIMITED,PANAJI vs. THE JOINT COMMISSIONER OF INCOME TAX, RANGE - 1, PANAJI

Appeals stands DISMISSED

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliita Nos. 034 & 035/Pan/2025 Assessment Year : 2011-12 & 2014-15 Damodar Mangalji & Company Ltd. Damodar Niwas, 1St Floor, Mc Road, Panaji, Goa-403001. Pan : Aaacd6880G . . . . . . . Appellant V/S Jt./Asstt. Commissioner Of Income Tax, Range-1/Circle-1(1), Goa. . . . . . . . Respondent Appearances Assessee By : Adv Rahul Sarda [‘Ld. Ar’] Revenue By : Mr M Satish [‘Ld. Dr’] Date Of Conclusive Hearing : 20/11/2025 Date Of Pronouncement : 18/12/2025 Order Per G. D. Padmahshali; The Captioned Twin Appeals Of Assessee Instituted U/S 253(1) Of The Income-Tax Act, 1961 [‘The Act’] Are Directed Against Separate Din & Order 1070138041(1) Dt. 08/11/2024 & 1070321994(1) Dt. 13/11/2024 Passed U/S 250 Of The Act By National Faceless Appeal Centre, Delhi [‘Ld. Nfac/Cit(A)’] Which Sprang From Assessment Orders Passed U/S 143(3) Of The Act Anent To Assessment Years 2011-12 & 2014-15 [‘Ay’].

14A of ₹22,200/- and (2) disallowance of capital expenditure of ₹20,70,58,100/- u/s 37(1) of the Act as, a sum paid to State Govt. for conversion of land for enduring period of 20 years. 6. Aggrieved assessee filed separate appeals before Ld. NFAC/CIT(A) and agitated the aforementioned disallowances/additions made in former twin assessments but remained

MRS VINI P. KENI,PANAJI vs. INCOME TAX OFFICER, WARD - 1(3), PANAJI

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

Bench: Shri Pavan Kumar Gadale & Shri G D Padmahshalii T A. Nos. 112/Pan/2022 (A.Y. 2014-15 ) Vini Prasad Keni, Vs Ito-Ward-1(3), Keni Building, Aayakar Bhavan, . Dr.Dada Vaidhya Road, Panaji-403001, Panjim-403001, Goa. Goa. . Pan .No. Adppk9767N (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee By Shri D.E.Robinson.Ar Revenue By Sri Narender Reddy.Sr.Dr सुनवाई क" तार"ख/Date Of Hearing 25.02.2025 घोषणा क" तार"ख/Date Of Pronouncement 20.03.2025 Order Per Pavan Kumar Gadale, Jm: The Appeal Is Filed By The Assesse Against The Order Of Nfac/ Cit(A) Passed U/Sec 143(3) & U/Sec 250 Of The Act. 2. At The Time Of Hearing, The Ld.Ar Of The Assessee Submitted That There Is A Delay Of 13 Days In Filing The Appeal Before The Hon’Ble Tribunal & The Assesse Has Filed The Affidavit For Condonation Of Delay. Whereas, The Facts Mentioned In The Affidavit Are Reasonable & The Ld. Dr Has No Specific Objections. Accordingly, We Condone The Delay & Admit The Appeal. The Assessee Has Raised

14A of the Act on the expenditure incurred for earning exempt income. The assessee has filed the submissions mentioning that the assessee has not incurred any expenditure and the investments are made without any barrowings from external sources. The A.O was not satisfied with the explanations and dealt on the provisions of section14A of the Act, Rule8D(2

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

2 of 16 VGM Export Vs JCIT, Margao ITA Nos.114/PAN/2023 AY: 2010-11 3. Aggrieved assessee filed an appeal before Ld. NFAC which was partly allowed by deleting the addition made on account of non- deduction of taxes on sum paid to Hongkong Party, however confirmed remaining twin additions viz; (a) 14A disallowance and (b) forex fluctuation loss claimed

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, UDUPI., UDUPI vs. M/S MANIPAL FINANCE CORPORATION LIMITED., UDUPI

In the result, the appeal is dismissed

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita Nos.332 & 333/Pan/2016 "नधा"रण वष" / Assessment Years : 2012-13 & 2013-14

section 14A of the Act. 4. Briefly stated, the facts of this ground are that the assessee earned exempt dividend income of Rs.2,82,640/- and offered suo motu disallowance u/s.14A at Rs.7,075/-. On a specific query, the assessee failed to furnish the working of such disallowance. The AO computed the disallowance under Rule 8D(2

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, UDUPI., UDUPI vs. M/S MANIPAL FINANCE CORPORATION LIMITED., UDUPI

In the result, the appeal is dismissed

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita Nos.332 & 333/Pan/2016 "नधा"रण वष" / Assessment Years : 2012-13 & 2013-14

section 14A of the Act. 4. Briefly stated, the facts of this ground are that the assessee earned exempt dividend income of Rs.2,82,640/- and offered suo motu disallowance u/s.14A at Rs.7,075/-. On a specific query, the assessee failed to furnish the working of such disallowance. The AO computed the disallowance under Rule 8D(2

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, UDUPI., UDUPI vs. M/S SYNDICATE BANK,, UDUPI

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

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita No.337/Pan/2016 िनधा"रण वष" / Assessment Year : 2002-03 Dcit, Circle-1, Udupi. Vs. M/S. Syndicate Bank, Central Accounts Department, Tax Cell, Head Officer, Manipal. Pan : Aaccs4699E Appellant Respondent C.O. No.01/Pan/2023 (Arising Out Of Ita No.337/Pan/2016) िनधा"रण वष" / Assessment Year : 2002-03 Canara Bank (Erstwhile Vs. Dcit, Circle-1, Udupi. Syndicate Bank), F.M. Wing, Head Office, 112, J. C. Road, Bengaluru- 560002. Pan : Aaacc6106G Appellant Respondent Revenue By : Smt. Ashwini D. Hosmani Assessee By : Shri S. Ananthan Smt. S. Lalitha R. Date Of Hearing : 07.09.2023 Date Of Pronouncement : 09.10.2023

disallowance u/s 14A of the Act and Rs.10 crores being the provision the credit taken into Profit & Loss Account on account 4 C.O. No.01/PAN/2023 of unreconciled credits. However, the ld. CIT(A) directed the Assessing Officer to allow interest of refund u/s 244A of the Act. 5. Being aggrieved, the Revenue is in appeal before us in the present appeal

SALGAOCAR MINING INDUSTRIES PRIVATE LIMITED.,PANAJI vs. THE JOINT COMMISSIONER OF INCOME TAX, MARGAO RANGE., MARGAO

In the result, the appeal filed by the Revenue in ITA

Bench: SHRI INTURI RAMA RAO (Accountant Member), SHRI PARTHA SARATHI CHAUDHURY (Judicial Member)

14A, addition on account of unpaid deposits to sundry creditors of Rs.59,03,90,714/-, disallowance of Rs.2,82,83,020/- debited to the Profit & Loss Account and addition on account of discrepancy in the receipts as per Form 26AS and receipts accounted in the books of account Rs.53,00,135/-. The factual background of the above additions

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, MARGAO., MARGAO vs. M/S SALGAONCAR MINING INDUSTRIES PVT. LTD., PANAJI

In the result, the appeal filed by the Revenue in ITA

Bench: SHRI INTURI RAMA RAO (Accountant Member), SHRI PARTHA SARATHI CHAUDHURY (Judicial Member)

14A, addition on account of unpaid deposits to sundry creditors of Rs.59,03,90,714/-, disallowance of Rs.2,82,83,020/- debited to the Profit & Loss Account and addition on account of discrepancy in the receipts as per Form 26AS and receipts accounted in the books of account Rs.53,00,135/-. The factual background of the above additions

MR. AGNELO SOCORRO JOAQUIM VIEGAS,PANAJI vs. INCOME TAX OFFICER, WARD - 1(5), PANAJI

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliita Nos. 069/Pan/2025 & Sa 06/Pan/2025 Assessment Year : 2011-12 Agnelo Socorro Joaquim Viegas H. No. 373, Galliwaddo, Taleigao, Caranzalem, Goa-403002. Pan : Akapv9049C . . . . . . . Appellant V/S Income Tax Officer, Ward-1(5), Panaji, Goa. . . . . . . . Respondent Appearances Assessee By : Mr Vinesh Pikale [‘Ld. Ar’] Revenue By : Mr Sanket Deshmukh[‘Ld. Dr’] Date Of Conclusive Hearing : 21/08/2025 Date Of Pronouncement : 26/08/2025 Order Per G. D. Padmahshali; The Captioned Appeal Of The Assessee Impugns Din & Order No. Itba/Apl/S/250/2024-25/1073026397(1) Dt. 07/02/2025 Passed By Addl./Jt. Commissioner Of Income Tax, Appeals(2), Ahmedabad [‘Ld. Cit(A)’] U/S 250 Of The Income-Tax Act, 1961 [‘The Act’] Which In Turn Sprung Out Of Order Of Assessment Dt. 27/12/2018 Passed U/S 143(3) R.W.S. 147 Of The Act By The Income

2. The learned Commissioner of Income Tax (Appeals) ADD/JIT (A)-2 AHMEDABAD has erred in refusing the claim that the Appellant is governed by the Portugal Code, as applicable to the State of Goa, were Income is required to be apportioned u/s 5A of the Income Tax Act 1961, except the income from Salary irrespective of the fact that