M/S GIRIRAJ ENTERPRISES,PUNE vs. DCIT, CENTRAL CIRCLE 1(1), PUNE, PUNE

In the result, the appeal filed by the assessee is allowed and the appeals filed by the Revenue are dismissed

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2015-16

bogusness or establish circumstance unerringly and reasonably raising an interference to that effect. The Hon'ble Supreme Court in the case of Umacharan Shah & Bros Vs CIT (37 ITR 271] held that suspicion however strong, cannot take the place of evidence. Since the transaction from the assessee is genuine no addition or disallowance can be made on this account.” 5

MANOJ MADANLAL CHHAJED,PUNE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), PUNE

bogus\ncompanies?\nAns: The accommodation entries by way of unsecured loans were taken to\npurchase properties. I did not have the amounts in the bank accounts but\nhad the cash. Therefore to purchase the properties, I had to do this\nexercise.\n6\nITA No.1178/PUN/2023\nITA No.2017/PUN/2024\nThe return of income for AY 2011-12 filed on 29/09/2011 by the assessee

SHRI MANOJ MADANLAL CHHAJED,PUNE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), PUNE

bogus\ncompanies?\nAns: The accommodation entries by way of unsecured loans were taken to\npurchase properties. I did not have the amounts in the bank accounts but\nhad the cash. Therefore to purchase the properties, I had to do this\nexercise.\n6\nITA No.1178/PUN/2023\nITA No.2017/PUN/2024\nThe return of income for AY 2011-12 filed on 29/09/2011 by the assessee

HETAL RAKESH MEHTA ,MUMBAI vs. ACIT, CC-1(2), PUNE

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2018-19 Hetal Rakesh Mehta Acit, Central Circle 1(2), 9/10, Vidya Nagar, 60 Feet Road, Vs. Pune Ghatkopar East, Mumbai – 400077 Pan: Ammpm9670L (Appellant) (Respondent)

139 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) on 30.10.2018 declaring total income of Rs.11,36,670/- for the impugned assessment year. A search and seizure action u/s 132 of the Act was conducted in the case of the assessee on 06.11.2019. In response to the notice u/s 153A of the Act issued

ASST. COMMISSIONER OF INCOME TAX, PANVEL CIRCLE PANVEL vs. OUTABOX MEDIA SOLUTIONS LLP, GHATKOPAR MUMBAI

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

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2017-18

139, after the expiry of one month from the date on which he was served with a notice under sub-section (1) of section 142 or sub-section (2) of section 115WE or sub-section (2) of section 143 or after the completion of the assessment, whichever is earlier; (b) where he has made no such return, after the expiry

GOPAL EXTRUSIONS PVT LTD,,JALGAON vs. INCOME-TAX OFFICER, WARD - 1(2),, JALGAON

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita. No.1633/Pun/2017 Assessment Year : 2008-09

139 or in reasons to a notice issued under sub-section (1) of section 142 or section 148 or to disclose fully and truly all material facts, necessary for his assessment for that assessment year." From the above provision, it is evident that what is required from A.Y. 1989-90 for issuing notice for reassessment is that the A.O. should

R. K. WINES,PEN vs. ITO, WARD 4, PANVEL, PANVEL

In the result, appeal of the assessee is partly allowed

bogus purchases from the disputed\ncreditors. It is thus the case that without such purchases the subsequent\nsale of liquor could not have been effected.\nThe appellant submits that non responding by some parties to notice us\n133(6) cannot be a ground to reject book results u/s 145(3) Reliance\nplaced on CIT-vs-Jas Jack Elegance Exports

AADHUNIK INFRASTRUCTURE DEVELOPMENT PRIVATE LIMITED,JALGAON vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, JALGAON

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2012-13

5. Ground Nos. 2, 3, 4 and 6 These grounds of appeal are against validity of proceedings u/s 147/148 of the Act. The appellant is engaged in trading in drip irrigation material and agricultural produce like onions. DEPARTMENT Income Tax Return in this case for the A.Y. 2012-13 declaring income of Rs.8,06,410/-/- was furnished on 31.01.2013 which

SHRI MANOJ MADANLAL CHHAJED,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -1(1)PUNE, PUNE

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / It(Ss)A Nos.91 To 96/Pun/2022 िनधा"रण वष" / Assessment Years : 2012-13 To 2017-18 Shri Manoj Madanlal Vs. Acit, Central Circle- Chhajed, 1(1), Pune. 601, A-8 Building, Karishma Housing Society, Near Sangam Press, Kothrud, Pune- 411029. Pan : Aalpc4991M Appellant Respondent आयकर अपील सं. / It(Ss)A Nos.97 & 98/Pun/2022 िनधा"रण वष" / Assessment Years : 2012-13 & 2015-16 Acit, Circle-1(1), Pune. Vs. Shri Manoj Madanlal Chhajed, 601, A-8 Building, Karishma Housing Society, Near Sangam Press, Kothrud, Pune- 411029. Pan : Aalpc4991M Appellant Respondent आयकर अपील सं. / Ita No.725/Pun/2022 िनधा"रण वष" / Assessment Year: 2018-19 Shri Manoj Madanlal Vs. Acit, Circle-1(1), Pune. Chhajed, 601, A-8 Building, Karishma Housing Society, Near Sangam Press, Kothrud, Pune- 411029. Pan : Aalpc4991M Appellant Respondent

139(1) 2012-13 30/09/2012 56,72,948 2013-14 30/09/2013 33,93,088 2014-15 30/11/2014 78,36,709 2015-16 29/10/2015 22,27,420 2016-17 15/10/2016 46,95,030 2017-18 02/11/2017 75,91,350 2018-19 09/02/2019 23,53,680 4. The search and seizure operations were conducted in the residential and business premises

KALAVATHI DEVI SHARMA,HYDERABAD vs. ITO, WARD-1, NANDED, NANDED

In the result, appeal of the assessee is dismissed

Bench: Dr.Manish Borad

139 taxmann.com 352 (Calcutta) wherein the Hon'ble High Court has held as under: - "Where assessee earned LTCG on sale of shares and AO denied said claim and made additions under section 68 on ground that assessee invested in shares of penny stock companies which provided bogus LTCG, sirice assessee failed to establish genuineness of rise of price of shares

KAY POWER AND PAPER LIMITED,SATARA vs. INCOME TAX OFFICER, WARD-2, SATARA

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

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

purchased and sold scripts at a price which are very less as compared to the market price on that particular day. During the FY 2014-15, M/s Kay Power and Paper Ltd. has made the transactions and booked the profit of Rs. 2,67,66,250/-. During the F.Y 2014-15, M/s Kay Power and Paper Ltd has made such

KAY POWER AND PAPER LIMITED,SATARA vs. INCOME TAX OFFICER, WARD-2, SATARA

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

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

purchased and sold scripts at a price which are very less as compared to the market price on that particular day. During the FY 2014-15, M/s Kay Power and Paper Ltd. has made the transactions and booked the profit of Rs. 2,67,66,250/-. During the F.Y 2014-15, M/s Kay Power and Paper Ltd has made such

ANANT KESHAV RAJEGAONKAR,NASHIK vs. THE ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 2, NASHIK, NASHIK

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1249 To 1252/Pun/2024 Assessment Years : 2013-14, 2014-15 & 2015-16

purchase of flats and gave the first instalment of ₹6.00 crore during the year, during F.Y. 2013-14 and ₹82.50 lakh during F.Y. 2014-15 and ₹3,13,50,000 during F.Y. 2015-16. Ld. Assessing Officer has invoked the provisions of section 68 of the Act treating alleged sum as unexplained cash credit of the amount for making

ANANT KESHAV RAJEGAONKAR,NASHIK vs. THE ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 2, NASHIK, NASHIK

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1249 To 1252/Pun/2024 Assessment Years : 2013-14, 2014-15 & 2015-16

purchase of flats and gave the first instalment of ₹6.00 crore during the year, during F.Y. 2013-14 and ₹82.50 lakh during F.Y. 2014-15 and ₹3,13,50,000 during F.Y. 2015-16. Ld. Assessing Officer has invoked the provisions of section 68 of the Act treating alleged sum as unexplained cash credit of the amount for making

ANANT KESHAV RAJEGAONKAR,NASHIK vs. THE ASSTT. COMMISSIONER OF OF INCOME TAX , CENTRAL CIRCLE - 2, NASHIK, NASHIK

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1249 To 1252/Pun/2024 Assessment Years : 2013-14, 2014-15 & 2015-16

purchase of flats and gave the first instalment of ₹6.00 crore during the year, during F.Y. 2013-14 and ₹82.50 lakh during F.Y. 2014-15 and ₹3,13,50,000 during F.Y. 2015-16. Ld. Assessing Officer has invoked the provisions of section 68 of the Act treating alleged sum as unexplained cash credit of the amount for making

ANANT KESHAV RAJEGAONKAR,NASHIK vs. THE ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 2, NASHIK, NASHIK

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1249 To 1252/Pun/2024 Assessment Years : 2013-14, 2014-15 & 2015-16

purchase of flats and gave the first instalment of ₹6.00 crore during the year, during F.Y. 2013-14 and ₹82.50 lakh during F.Y. 2014-15 and ₹3,13,50,000 during F.Y. 2015-16. Ld. Assessing Officer has invoked the provisions of section 68 of the Act treating alleged sum as unexplained cash credit of the amount for making

ALNESH AKIL SOMJI,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX, PUNE

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

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

purchase of self occupied house property, copy of loan account statement and the certificate from the bank regarding the payment of interest and principal. Further, the Assessing Officer also held that the assessee cannot make a new claim in the return filed in response to notice u/s 153A of the Act. We find the Ld. CIT(A) although held that