PRIME MINERAL EXPORTS PRIVATE LIMITED (NOW AMALGAMATED WITH FOMENTO RESOURCES PRIVATE LIMITED),PANAJI vs. JOINT COMMISSIONER OF INCOME TAX, RANGE - 1, PANAJI

The appeal stands partly allowed for statistical purpose in aforestated terms

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliita Nos. 003/Pan/2023 Assessment Year : 2009-10 Prime Mineral Exports Pvt. Ltd. (Now Amalgamated With Fomento Resources Pvt. Ltd.) 102, 1St Fl. Kamat Metropolis-1, Behind Caculo Mall, St. Inez, Panaji, Goa-403001. . . . . . . .Appellant Pan : Aadcp1647E V/S Jt. Commissioner Of Income Tax, . . . . . . . Respondent Range-1, Panaji, Goa

1) and can be subjected to variation only if the correctness of such suo-moto disallowance turns out unsatisfactory to the assessing officer. The dissatisfaction over correctness of expenditure suo-moto disallowed by assessee requires to be spelt out in black & white before determining the quantum of disallowance under s/s (2) only. The said proposition has attained the finality

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

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

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawal

23,014/- incurred abroad on professional and consultancy fees by invoking the provisions of section 40 (a) of the Income Tax Act, 1961. (b) Without prejudice, the CIT(A) ought to have deleted the entire addition in the sum of Rs.6,94,32,433/- in view of the fact that the explanation to section 9(1)(vii) inserted

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

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawal

23,014/- incurred abroad on professional and consultancy fees by invoking the provisions of section 40 (a) of the Income Tax Act, 1961. (b) Without prejudice, the CIT(A) ought to have deleted the entire addition in the sum of Rs.6,94,32,433/- in view of the fact that the explanation to section 9(1)(vii) inserted

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)

section 41(1) made addition of Rs.59,03,90,714/-. Similarly, during the course of assessment proceedings, the Assessing Officer had called for the details of the provisions for expenses debited to Profit & Loss Account which remains unpaid as on 31.03.2011. The details of such provisions are set out by the Assessing Officer vide para 6 of the assessment order

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)

section 41(1) made addition of Rs.59,03,90,714/-. Similarly, during the course of assessment proceedings, the Assessing Officer had called for the details of the provisions for expenses debited to Profit & Loss Account which remains unpaid as on 31.03.2011. The details of such provisions are set out by the Assessing Officer vide para 6 of the assessment order

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

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

disallowance to computation of book profit u/s 115JB is concerned, we are of the considered view that, section 115JB(1) of the Act provides the ITAT-Panaji Page 16 of 23

VIRUPAXAPPA SIDRAMAPPA BEMBALGI,BELAGAVI vs. INCOME TAX OFFICER, BELGAVU

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliita Nos. 011/Pan/2025 Assessment Year : 2017-18 M/S Virupakaxappa Sidramappa Bembalgi 580, Saraf Katta, Shahapur, Belgaum-590003. Pan : Aadfv3936F . . . . . . . Appellant

disallowance of (i) total URD purchases of ₹1,61,75,480/- and (ii) Labour charges paid for ornamentation ₹3,86,340/- or Option- (B) addition of ₹45,29,674/- on account of estimation of gross profit @40% of estimated ad-hoc sales/turnover of ₹250Lakhs. Since the first option(A) will result into profit of more than the turnover

SHRI BHAGYALAXMI CO-OPERATIVE CREDIT SOCIETY LIMITED,MALLAPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CPC, BANGALURU

Appeals are ALLOWED

Bench: Shri Satbeer Singh Godara & Shri G. D. Padmahshali(Through Virtual Hearing From Pune) आयकर अपऩल सं. / Ita No. 001/Pan/2023 निर्धारण वषा / Assessment Year : 2018-19 Shri Bhagyalaxmi Co-Operative Credit Society Ltd., Mallapur, Pg Main Rd., Ghataprabha, Karnataka-591306 Pan: Aaaas5624D . . . . . . . अपीलार्थी / Appellant बिधम / V/S Dy. Commissioner Of Income Tax, Cpc, Bengaluru . . . . . . . प्रत्यर्थी / Respondent & आयकर अपऩल सं. / Ita No. 030/Pan/2023 निर्धारण वषा / Assessment Year : 2018-19 M/S Sangam Souharda Credit Sahakari Ltd., A/P. Galgali, Taluka-Bilgi, Dist.-Bagalkot-587117 Pan: Aaeas3685G . . . . . . . अपीलार्थी / Appellant बिधम / V/S Dy. Commissioner Of Income Tax, Cpc, Bengaluru . . . . . . . प्रत्यर्थी / Respondent द्वधरध / Appearances Assessee By : Mr Sateesh Nadagouda For Ita No. 001& None For Ita No. 030 [‘Ld. Ar’] Revenue By : Mr N. Shrikanth [‘Ld. Dr’] सुनवाई की तारीख / Date Of Conclusive Hearing : 07/08/2023 घोषणा की तारीख / Date Of Pronouncement : 01/09/2023 आदेश / Order Per G. D. Padmahshali, Am; These Two Appeals Of Different Assessee Are Instituted U/S 253(1) Of Income-Tax Act, 1961 [‘The Act’ Hereafter] Against Respective Orders Passed U/S 250 Of The Act By National Faceless Appeal Centre, Delhi [‘Nfac’ Hereafter] For Assessment Year 2018-19 [‘Ay’ Hereinafter].

disallow 80P deduction in summary assessment u/s 143(1) of the Act. ITAT-Panaji Page 3 of 7 ITA No.001 & 030/PUN/2023 AY 2018-19 Belated Return-143(1)(a)(v) 8. Let us deal with issue of eligibility of the claim of deduction u/s 80P of VI-A of the Act first; it goes without saying that, by virtue

M/S SANGAM SOUHARD CREDIT SAHAKARI LIMITED,BAGALKOT vs. DCIT, CPC, BANGALORE

Appeals are ALLOWED

Bench: Shri Satbeer Singh Godara & Shri G. D. Padmahshali(Through Virtual Hearing From Pune) आयकर अपऩल सं. / Ita No. 001/Pan/2023 निर्धारण वषा / Assessment Year : 2018-19 Shri Bhagyalaxmi Co-Operative Credit Society Ltd., Mallapur, Pg Main Rd., Ghataprabha, Karnataka-591306 Pan: Aaaas5624D . . . . . . . अपीलार्थी / Appellant बिधम / V/S Dy. Commissioner Of Income Tax, Cpc, Bengaluru . . . . . . . प्रत्यर्थी / Respondent & आयकर अपऩल सं. / Ita No. 030/Pan/2023 निर्धारण वषा / Assessment Year : 2018-19 M/S Sangam Souharda Credit Sahakari Ltd., A/P. Galgali, Taluka-Bilgi, Dist.-Bagalkot-587117 Pan: Aaeas3685G . . . . . . . अपीलार्थी / Appellant बिधम / V/S Dy. Commissioner Of Income Tax, Cpc, Bengaluru . . . . . . . प्रत्यर्थी / Respondent द्वधरध / Appearances Assessee By : Mr Sateesh Nadagouda For Ita No. 001& None For Ita No. 030 [‘Ld. Ar’] Revenue By : Mr N. Shrikanth [‘Ld. Dr’] सुनवाई की तारीख / Date Of Conclusive Hearing : 07/08/2023 घोषणा की तारीख / Date Of Pronouncement : 01/09/2023 आदेश / Order Per G. D. Padmahshali, Am; These Two Appeals Of Different Assessee Are Instituted U/S 253(1) Of Income-Tax Act, 1961 [‘The Act’ Hereafter] Against Respective Orders Passed U/S 250 Of The Act By National Faceless Appeal Centre, Delhi [‘Nfac’ Hereafter] For Assessment Year 2018-19 [‘Ay’ Hereinafter].

disallow 80P deduction in summary assessment u/s 143(1) of the Act. ITAT-Panaji Page 3 of 7 ITA No.001 & 030/PUN/2023 AY 2018-19 Belated Return-143(1)(a)(v) 8. Let us deal with issue of eligibility of the claim of deduction u/s 80P of VI-A of the Act first; it goes without saying that, by virtue

SHREE AMBEY FORGING PRIVAT LIMITED,PANAJI vs. ITO, WARD - (4), PANAJI

In the result, both appeals of the assessee are allowed

1). If a provision of a statute is unconditionally omitted without a saving clause in favour of pending proceedings, all actions must stop where the omission finds them, and if final relief has not been granted before the omission goes into effect, it cannot be granted afterwards. Savings of the nature contained in section 6 or in special Acts

SCORPIO IRON LTD,PANAJI vs. ITO, WARD - 1(4), PANAJI

In the result, both appeals of the assessee are allowed

1). If a provision of a statute is unconditionally omitted without a saving clause in favour of pending proceedings, all actions must stop where the omission finds them, and if final relief has not been granted before the omission goes into effect, it cannot be granted afterwards. Savings of the nature contained in section 6 or in special Acts

SMT ALICIA NINETTE FIALHO GONSALVES,ILHAS vs. THE INCOME TAX OFFICER, WARD - 1(3), PANAJI

In the result, appeal of the assessee is allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita No.82/Pan/2018 "नधा"रण वष" / Assessment Year : 2012-13 Smt. Alicia Ninette Fialho Gonsalves H.No.203, Villa Gonsalves, Chimbel, Ilhas, Goa – 403 006 .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Ward-1(3), Panaji Goa. ……""यथ" / Respondent Assessee By : Shri Jitendra Jain, Advocate Revenue By : Shri Sourabh Nayak, Sr. D.R. सुनवाई क" तार"ख / Date Of Hearing : 25.02.2022 घोषणा क" तार"ख / Date Of Pronouncement : 05.04.2022

1. In the facts and circumstances of the case the Commissioner of Income Tax (Appeals) Panaji Goa erred in confirming the action of the Assessing officer of disallowing the construction expenses of Rs.29,00,838/- u/s 40(a)(ia) of I.T. Act on the ground that no taxes were deducted at source from contractual payments related to said expenses despite

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

disallow a sum of Rs.30,086/- i.e. 1,00,288 X 30%= Rs.30,086/ i.e. 1,00,288 X 30%= Rs.30,086/- as per provisions of Section 40(a)(ia) of the Act, which has not been provisions of Section 40(a)(ia) of the Act, which has not been done. 3. On perusal of records, the following observations have

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’].

23,38,465/- and (4) addition of ₹36,73,895/- being difference in closing inventory due to incorrect valuation which remain unexplained satisfactorily to the Ld. AO. ITA No 035/PAN/2025, AY : 2014-15; 5. Similarly for AY 2014-15 the assessee filed its return of income online on 29/11/2014 declaring ITAT-Panaji Page 3 of 32 Damodar Mangalji & Company

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’].

23,38,465/- and (4) addition of ₹36,73,895/- being difference in closing inventory due to incorrect valuation which remain unexplained satisfactorily to the Ld. AO. ITA No 035/PAN/2025, AY : 2014-15; 5. Similarly for AY 2014-15 the assessee filed its return of income online on 29/11/2014 declaring ITAT-Panaji Page 3 of 32 Damodar Mangalji & Company

M/S KAMAT REAL ESTATE DEVELOPERS,,PANAJI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), PANAJI., PANAJI

In the result, appeal of the Assessee is allowed

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawal

disallowance of interest of Rs.15,68,152/-, examined original assessment records only and no fresh material had come in his possession after completion of original assessment u/s 143(3) of I.T. Act. 6 ITA.No.336/PAN./2018 M/s. Kamat Real Estate Developers, Panaji, Goa. 5. In the facts and circumstances of the case the Commissioner of Income Tax (Appeals) erred

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

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

23 272/PAN/2024 2017-18 AAAAP1606Q Sangh Niyamit Nippani Vaidya Limited Bhoj The Maratha Urban Co-op ITO, Wd Mr. Pramod Y 24 301/PAN/2024 2017-18 AABAT1106E Credit Society 5,Belgaum Vaidya Limited Shree Basvanna Mahadev Co-op ITO, Wd 6, Mr. Chetan 25 25/PAN/2025 2017-18 AAEAS8789D Credit Society Belgaum Chougule Limited Vividoddshesha Prathamik ITO, Wd 4, Mr. Pramod

SHRI BASAVESHWAR URBAN CO OPERATIVE CREDIT SOCIETY LIMITED,BELAGAVI vs. INCOME TAX OFFICER 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

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

23 272/PAN/2024 2017-18 AAAAP1606Q Sangh Niyamit Nippani Vaidya Limited Bhoj The Maratha Urban Co-op ITO, Wd Mr. Pramod Y 24 301/PAN/2024 2017-18 AABAT1106E Credit Society 5,Belgaum Vaidya Limited Shree Basvanna Mahadev Co-op ITO, Wd 6, Mr. Chetan 25 25/PAN/2025 2017-18 AAEAS8789D Credit Society Belgaum Chougule Limited Vividoddshesha Prathamik ITO, Wd 4, Mr. Pramod

SHRI BASAVESHWAR URBAN CO OPERATIVE CREDIT SOCIETY LTD,BELAGAVI vs. INCOME TAX OFFICER NATIONAL E ASSESSMENT, 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

23 272/PAN/2024 2017-18 AAAAP1606Q Sangh Niyamit Nippani Vaidya Limited Bhoj The Maratha Urban Co-op ITO, Wd Mr. Pramod Y 24 301/PAN/2024 2017-18 AABAT1106E Credit Society 5,Belgaum Vaidya Limited Shree Basvanna Mahadev Co-op ITO, Wd 6, Mr. Chetan 25 25/PAN/2025 2017-18 AAEAS8789D Credit Society Belgaum Chougule Limited Vividoddshesha Prathamik ITO, Wd 4, Mr. Pramod