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

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)

purchases and consequent income arising from these transactions had already been fully disclosed and accounted for in the appellant's income tax return. 3. On the facts and in circumstances of the case and in law, the Ld. Commissioner of Income Tax (Appeals) erred in ignoring the failure of the Assessing Officer to provide the appellant with a copy

ASSISTANT COMMISSIONER OF INCOME-TAX,, KOLHAPUR vs. VIJAYKUMAR RAJARAM SHAH,, KOLHAPUR

In the result, the appeal of the Revenue in ITA No

Bench: Shri D. Karunakara Rao, Am & Shri S. S. Viswanethra Ravi, Jm Sl.

153A(b) of the Act vide assessment order dated 27.12.2011 at Rs.12,69,30,330/-. The order was rectified under section 154 of the Act on 02.02.2012 and the revised assessed income was Rs.12,08,15,377/-. Survey action under section 133A of the Act was conducted on the business premises of assessee and group cases on 04.01.2013. Statement

ASSISTANT COMMISSIONER OF INCOME-TAX vs. LAXMI CIVIL ENGINEERING SERVICES PVT. LTD.,, KOLHAPUR

In the result, the appeal of the Revenue in ITA No

Bench: Shri D. Karunakara Rao, Am & Shri S. S. Viswanethra Ravi, Jm Sl.

153A(b) of the Act vide assessment order dated 27.12.2011 at Rs.12,69,30,330/-. The order was rectified under section 154 of the Act on 02.02.2012 and the revised assessed income was Rs.12,08,15,377/-. Survey action under section 133A of the Act was conducted on the business premises of assessee and group cases on 04.01.2013. Statement

LAXMI CIVIL ENGINEERING SERVICES PVT. LTD.,,KOLHAPUR vs. ASSISTANT COMMISISONER OF INCOME-TAX,,

In the result, the appeal of the Revenue in ITA No

Bench: Shri D. Karunakara Rao, Am & Shri S. S. Viswanethra Ravi, Jm Sl.

153A(b) of the Act vide assessment order dated 27.12.2011 at Rs.12,69,30,330/-. The order was rectified under section 154 of the Act on 02.02.2012 and the revised assessed income was Rs.12,08,15,377/-. Survey action under section 133A of the Act was conducted on the business premises of assessee and group cases on 04.01.2013. Statement

ASSISTANT COMMISSIONER OF INCOME-TAX vs. LAXMI CIVIL ENGINEERING SERVICES PVT. LTD.,, KOLHAPUR

In the result, the appeal of the Revenue in ITA No

Bench: Shri D. Karunakara Rao, Am & Shri S. S. Viswanethra Ravi, Jm Sl.

153A(b) of the Act vide assessment order dated 27.12.2011 at Rs.12,69,30,330/-. The order was rectified under section 154 of the Act on 02.02.2012 and the revised assessed income was Rs.12,08,15,377/-. Survey action under section 133A of the Act was conducted on the business premises of assessee and group cases on 04.01.2013. Statement

ASSISTANT COMMISSIONER OF INCOME-TAX vs. LAXMI CIVIL ENGINEERING SERVICES PVT. LTD.,, KOLHAPUR

In the result, the appeal of the Revenue in ITA No

Bench: Shri D. Karunakara Rao, Am & Shri S. S. Viswanethra Ravi, Jm Sl.

153A(b) of the Act vide assessment order dated 27.12.2011 at Rs.12,69,30,330/-. The order was rectified under section 154 of the Act on 02.02.2012 and the revised assessed income was Rs.12,08,15,377/-. Survey action under section 133A of the Act was conducted on the business premises of assessee and group cases on 04.01.2013. Statement

LAXMI CIVIL ENGINEERING SERVICES PVT. LTD.,,KOLHAPUR vs. ASSISTANT COMMISISONER OF INCOME-TAX,,

In the result, the appeal of the Revenue in ITA No

Bench: Shri D. Karunakara Rao, Am & Shri S. S. Viswanethra Ravi, Jm Sl.

153A(b) of the Act vide assessment order dated 27.12.2011 at Rs.12,69,30,330/-. The order was rectified under section 154 of the Act on 02.02.2012 and the revised assessed income was Rs.12,08,15,377/-. Survey action under section 133A of the Act was conducted on the business premises of assessee and group cases on 04.01.2013. Statement

LAXMI CIVIL ENGINEERING SERVICES PVT. LTD.,,KOLHAPUR vs. ASSISTANT COMMISISONER OF INCOME-TAX,,

In the result, the appeal of the Revenue in ITA No

Bench: Shri D. Karunakara Rao, Am & Shri S. S. Viswanethra Ravi, Jm Sl.

153A(b) of the Act vide assessment order dated 27.12.2011 at Rs.12,69,30,330/-. The order was rectified under section 154 of the Act on 02.02.2012 and the revised assessed income was Rs.12,08,15,377/-. Survey action under section 133A of the Act was conducted on the business premises of assessee and group cases on 04.01.2013. Statement

DEPUTY COMMISSIONER OF INCOME TAX, JALGAON vs. TARADEVI RATANLAL BAFNA, JALGAON

Section 10(38)\nand treating such long term capital gain as bogus.\n\n25. Referring to the decision of Hon'ble AP High Court in the case of M/s.\nManidhari Stainless Wire (P.) Ltd. vs. Union of India vide W.P. No.5917 of 2017,\norder dated 31.10.2017, copy of which is placed in the paper book, he submitted\nthat

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

153A or sub-section (2) of section 153C or after the completion of the assessment, whichever is earlier. (4) Subject to the provisions of sub-section (3), where an assessee calls in question the jurisdiction of an Assessing Officer, then the Assessing Officer shall, if not satisfied with the correctness of the claim, refer the matter for determination under

ASSISTANT COMMISSIONER OF INCOME TAX, JALGAON vs. SIDHARTH RATANLAL BAFNA, JALGAON

153A was\nissued to the assessee in response to which the assessee filed his return of income\non 28.02.2014 declaring total income of Rs.15,00,324/-. Thereafter, assessment\nunder section u/s 143(3) r.w.s 153A wat completed on 22.03.2016 assessing total\nincome at Rs.16,79,227/-.\nThe office has received information from the office of the DDIT (Inv), Unit

ASSISTANT COMMISSIONER OF INCOME TAX, JALGAON vs. SIDHARTH RATANLAL BAFNA, JALGAON

Section 10(38)\nand treating such long term capital gain as bogus.\n\n25. Referring to the decision of Hon'ble AP High Court in the case of M/s.\nManidhari Stainless Wire (P.) Ltd. vs. Union of India vide W.P. No.5917 of 2017,\norder dated 31.10.2017, copy of which is placed in the paper book, he submitted\nthat

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

INCOME TAX OFFICER, WARD 1, JALNA, JALNA vs. ASHISH OMPRAKASH MANTRI, JALNA

section 10(38) and made\nadditions, alleging involvement in penny stock which were being misused for\nproviding bogus accommodation of LTCG, however, there was lack of adverse\ncomments from stock exchange and officials of company involved in these\ntransactions and no material relating to assessee was found in investigation wing\nreport, additions made by AO had rightly been deleted

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. ATUL OMPRAKASH MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

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

section 10(38) and made additions, alleging involvement in penny stock which were being misused for providing bogus accommodation of LTCG, however, there was lack of adverse comments from stock exchange and officials of company involved in these transactions and no material relating to assessee was found in investigation wing report, additions made by AO had rightly been deleted