INCOME TAX OFFICER, BODHI TOWER vs. KUMAR BUILDERS PROJECT PUNE PRIVATE LIMITED, BUND GARDEN

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

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2019-20

loss of Rs.1,22,14,57,394/- and claimed the TDS credit of Rs.4,02,541/- thereby claiming a refund of Rs.4,02,541/-. The return was revised on 06.03.2020 claiming income tax refund of Rs.2541/- and carry forward

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE -11,, PUNE vs. CAPGEMINI TECHNOLOGY SERVICES INDIA LIMITED , (FORMERLY IGATE GLOBAL SOLUTIONS LTD.),, PUNE

In the result, both the appeals are partly allowed

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

TDS credit and hence the carry forward of MAT credit of erstwhile company has to be allowed to the amalgamated company. 13. The upshot of the above discussion is that section 72A, like some other provisions distinctly dealing with the effects of amalgamation, exclusively applies to accumulated losses

CAPGEMINI TECHNOLOGY SERVICES INDIA LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 11,, PUNE

In the result, both the appeals are partly allowed

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

TDS credit and hence the carry forward of MAT credit of erstwhile company has to be allowed to the amalgamated company. 13. The upshot of the above discussion is that section 72A, like some other provisions distinctly dealing with the effects of amalgamation, exclusively applies to accumulated losses

REXEL INDIA PRIVATE LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, PUNE

In the result, appeal of the assessee is partly allowed for statistical\npurposes

forward\nbusiness losses (Ground no. 2) and non-granting of credit of advance tax\n(Ground no. 3) and credit of TDS (Ground no. 4) to the assessee, the Ld.\nAR requested the Bench that these issues may be set aside to the file of\nthe Ld. AO with the direction to allow the claim of the assessee

P P KHARPATIL CONSTRUCTIONS PVT LTD,URAN vs. CIRCLE - PANVEL, PANVEL

In the result, appeal of the assessee is allowed

Bench: Ms.Astha Chandra & Dr.Dipak P. Ripoteआयकर अपील सं. / Ita No.1294/Pun/2025 िनधा"रण वष" / Assessment Year: 2020-21 P P Kharpatil Construction Pvt. V The Principal Ltd., S. Commissioner Of Income 656, At Post Chimer Taluka, Tax, Thane-1. Uran District, Raigad – 410206. Maharashtra. Pan: Aaccp4003B Appellant/ Assessee Respondent / Revenue Assessee By Mrs. Naina Chaurasia & Shri Sameer Gavli – Ar’S Revenue By Shri Amit Bobde –Cit(Dr) Date Of Hearing 18/06/2025 Date Of Pronouncement 20/06/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Is Filed By The Assessee Against The Order Of Ld.Principal Commissioner Of Income Tax, Thane-1 Passed Under Section 263 Of The Income Tax Act, 1961 For A.Y.2020-21, Dated 27.03.2025 Emanating From Assessment Order U/S.143(3)R.W.S. 144Bof The Income Tax Act, Dated 22.09.2022. The Assessee Has Raised Following Grounds Of Appeal :

Forward TDS. Ld.AR invited our attention to the following notices and replies filed : Sr.No. Particulars Page No. 1 Notice u/s.142(1) dated 09.11.2021 56 to 57 2 Reply – u/s142(1) dated 16.11.2021 58 to 61 3 Notice u/s.142(2) dated 25.01.2022 62 to 63 4 Notice u/s.142(1) dated 25.02.2022 64 to 65 5 Reply letter dated 09.03.2022 with Annexures

DY. COMMISSIONER OF INCOME TAX, PUNE vs. DILIP MOTILALJI CHORDIA, PUNE

In the result, the appeal filed by the Revenue as well as\nthe Cross Objection filed by the assessee are allowed for\nstatistical purposes

carry forward of current year losses of\n₹30,12,118 has been made. Books of account are audited and\naudited financial statements u/s.44AB stands filed. Case\nselected for scrutiny under CASS for the reasons (i) large\nincrease in capital and (2) large investment in property. Valid\nstatutory notices u/s.143(2) and 142(1) of the Act duly served\nupon

M/S KOLTE-PATIL INTEGRATED TOWNSHIPS LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-7, PUNE, PUNE

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2021-22

carried forward or depreciation from any earlier assessment year, if such loss or depreciation is attributable to any of the deductions referred to in clause (i); (iii) without set off of any loss or allowance for unabsorbed depreciation deemed so under section 72A, if such loss or depreciation is attributable to any of the deductions referred to in clause

VEENA INDUSTRIES PVT LTD,PUNE vs. DCIT CENTRAL CIRCLE2(1), PUNE

In the result, the assessee's appeal is allowed

Bench: Shri R. K. Panda & Shri Vinay Bhamore

TDS cannot substitute for the requirement of proving actual services rendered. Therefore, the appellant's explanation cannot be accepted as bona fide, and the disallowance represents income in respect of which inaccurate particulars were furnished. 5.5.3 The contention regarding tax neutrality is also without merit. Penalty under section 271(1)(c) is linked to the act of furnishing inaccurate particulars

VEENA INDUSTRIES PVT LTD,PUNE vs. DCIT CENTRAL CIRCLE2(1), PUNE

In the result, the assessee's appeal is allowed

Bench: Shri R. K. Panda & Shri Vinay Bhamore

TDS cannot substitute for the requirement of proving actual services rendered. Therefore, the appellant's explanation cannot be accepted as bona fide, and the disallowance represents income in respect of which inaccurate particulars were furnished. 5.5.3 The contention regarding tax neutrality is also without merit. Penalty under section 271(1)(c) is linked to the act of furnishing inaccurate particulars

VEENA INDUSTRIES PVT LTD,PUNE vs. DCIT CENTRAL CIRCLE2(1, PUNE

In the result, the assessee's appeal is allowed

Bench: Shri R. K. Panda & Shri Vinay Bhamore

TDS cannot substitute for the requirement of proving actual services rendered. Therefore, the appellant's explanation cannot be accepted as bona fide, and the disallowance represents income in respect of which inaccurate particulars were furnished. 5.5.3 The contention regarding tax neutrality is also without merit. Penalty under section 271(1)(c) is linked to the act of furnishing inaccurate particulars

VEENA INDUSTRIES PVT LTD,PUNE vs. DCIT CENTRAL CIRCLE2(1), PUNE

In the result, the assessee's appeal is allowed

Bench: Shri R. K. Panda & Shri Vinay Bhamore

TDS cannot substitute for the requirement of proving actual services rendered. Therefore, the appellant's explanation cannot be accepted as bona fide, and the disallowance represents income in respect of which inaccurate particulars were furnished. 5.5.3 The contention regarding tax neutrality is also without merit. Penalty under section 271(1)(c) is linked to the act of furnishing inaccurate particulars

AUTOCOMP CORPORATION PANSE PRIVATE LIMITED ,PUNE vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE 1(1), PUNE

In the result, both the appeals filed by the assessee are allowed for statistical purposes

Bench: Shri R. K. Panda & Ms Astha Chandra

Loss Account would have gone to add only to the tax exempt income and could not have been said to be resulting in increasing the taxable income of the appellant for the extant A.Y. 2013-14. Denial of MAT Credit set off 4.7 The learned CIT erred in not considering the submissions and failed to appreciate that

AUTOCOMP CORPORATION PANSE PRIVATE LIMITED ,PUNE vs. ASST. COMMISSIONER OF INCOME TAX, PUNE

In the result, both the appeals filed by the assessee are allowed for statistical purposes

Bench: Shri R. K. Panda & Ms Astha Chandra

Loss Account would have gone to add only to the tax exempt income and could not have been said to be resulting in increasing the taxable income of the appellant for the extant A.Y. 2013-14. Denial of MAT Credit set off 4.7 The learned CIT erred in not considering the submissions and failed to appreciate that

SONAL SANDEEP SATAV,PUNE vs. PCIT, PUNE-2, PUNE

In the result, the appeal of the assessee is dismissed

Bench: Ms. Astha Chandra & Shree G.D. Padmahshali

carry forward of business loss of Rs.1,06,15,157/-. The case was selected for scrutiny under the E-assessment Scheme, 2019 on the following issues-(i) non-furnishing of quantitative details; (ii) securities (derivative) transaction; (iii) unsecured loans; (iv) business expenses; and (v) securities transaction. 3.1 During the assessment proceedings the Ld. Assessing Officer, National e-Assessment Centre, Delhi

ASHISH NIRANJAN SHAH,,PUNE vs. PR. COMMISSIONER OF INCOME-TAX -4,, PUNE

In the result, appeal of the assessee is dismissed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.697/Pun/2019 िनधा"रण वष" / Assessment Year : 2014-15 Ashish Niranjan Shah, The Pr.Cit-4, Pune. 39, Mantri Court, Dr.Ambedkar V Road, Next To Rto, Sangam, S Pune – 411001. Pan: Aidps 7682 K Appellant/ Assessee Respondent /Revenue Assessee By Shri Kishor B Phadke – Ar Revenue By Shri Keyur Patel, Irs – Cit-Dr Date Of Hearing 28/07/2023 Date Of Pronouncement 13/10/2023 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Directed Against The Order Of Ld.Pr.Commissioner Of Income Tax-4, Pune Dated26.03.2019 Under Section 263 Of The Income Tax Act, 1961. The Assessee Has Raised The Following Grounds Of Appeal : “1. Learned Pr. Cit- 4, Pune Erred In Law & On Facts In Treating The Assessment Order U/S 143(3) Being Erroneous & Thereby Prejudicial To The Revenue U/S 263 Without Appreciating That, The Learned Ao Has Allowed Appellant'S Claim Of Business Loss Amounting To Rs.10,20,14,068/- Incurred On Account Of Default In Payment By Nsel, With Due Application Of Mind & Verification. The Learned Pr. Cit Erred In Holding That, Ao Has Not Carried Out Any Enquiry With Respect To Business Loss Claimed By The Appellant & Not Applied His Ashish Niranjan Shah [A]

TDS & L a/c. 6. Bank a/c details along with all banks statements in the following format :- 13 Ashish Niranjan Shah [A] Sr. No. Name of Branch A/c Type A/c No. the Bank 7. Details of Name, Permanent & Residential address of the assessee along with mobile number, telephone no. & email ids. 8. Evidences for deduction claimed under Chapter VIA viz. Purchase

DISCOVERY DIGITAL NETWORK PRIVATE LIMITED,NASHIK vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1 , NASHIK

carry forward and\nset off of losses u/s 72 to 74A. Therefore, it is submitted that whenever the\nlegislature intended to enforce an embargo on the assessee to make claims in the\nreturn of income itself. it has brought into the legislation explicit provisions in that\nregard. Thus, in absence of any such provision in section 244A which prohibits\ngrant

RAJARAMBAPU SHETKARI AND SHETMAJUR SAHHAYA SAMITI,,SANGLI vs. INCOME TAX OFFICER,, SANGLI

Appeal is allowed for stastical purposes in above terms

Bench: Shri S.S.Godara, Jm & Shri Dr. Dipak P. Ripote, Am आयकर अपीऱ सं. / Ita No.370/Pun/2017 ननधधारण वषा / Assessment Year : 2012-13

carrying the contract works like harvesting and transportation of sugarcane. While executing the agreements it has exercised due diligence. It has incorporated such terms & conditions which a prudent businessman does while entering into the contracts. It has also anticipated the need for non-TDS certificates. It has also obtained „authority letter‟ from the contractors to the effect that AOP will

DEPUTY COMMISSIONER OF INCOME-TAX CIRCLE -5, PUNE vs. SERUM INSTITUTE OF INDIA PVT LTD.,, PUNE

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

TDS provisions. As regards, the claim for allowance as revenue expenditure on product development expenditure of Rs.4,19,75,171/-, the ld. CIT(A) allowed the same following the Tribunal’s order in assessee’s own case for the assessment year 2008-09. Being aggrieved by the decision of the ld. CIT(A), the Revenue is in appeal before

AGARWAL ENTERPRISES,PUNE vs. A.O, PUNE

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2023-24

TDS details, the Assessing Officer accepted salary at Rs.27,06,871/- only. Since the assessee according to the Profit and Loss Account is carrying on the business of power generation and share trading business during the year, therefore, the Assessing Officer allocated 50% of the salary towards business of share trading and the balance 50% towards business of power generation