M/S SIZE CONTROL GAUGES AND TOOLS PVT. LTD.,PUNE vs. DY CIT , CIRCLE- 5, PUNE

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

Bench: Shri Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1864 To 1868/Pun/2025 निर्धारण वर्ा / Assessment Years : 2007-08 To 2011-12 M/S. Size Control Gauges Vs. Dcit, Circle-5, Pune. & Tools Pvt. Ltd., Plot No.100/101, Tiny Industries Co-Op. Estate Ltd., Pisoli Road, Kondhwa (Bk), Pune- 411048. Pan : Aaccs3670F Appellant Respondent

254 of the IT Act was passed and as per the direction of the Tribunal the addition on bogus purchase was restricted to Rs.2,03,116/- being 10% of the bogus purchases of Rs.20,31,158/- earlier determined by the Assessing Officer. Consequently, fresh penalty proceedings u/s 271(1)(c) were initiated. 7. In response to notice of penalty

M/S SIZE CONTROL GAUGES AND TOOLS PVT. LTD.,PUNE vs. DY CIT , CIRCLE- 5, PUNE

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

Bench: Shri Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1864 To 1868/Pun/2025 निर्धारण वर्ा / Assessment Years : 2007-08 To 2011-12 M/S. Size Control Gauges Vs. Dcit, Circle-5, Pune. & Tools Pvt. Ltd., Plot No.100/101, Tiny Industries Co-Op. Estate Ltd., Pisoli Road, Kondhwa (Bk), Pune- 411048. Pan : Aaccs3670F Appellant Respondent

254 of the IT Act was passed and as per the direction of the Tribunal the addition on bogus purchase was restricted to Rs.2,03,116/- being 10% of the bogus purchases of Rs.20,31,158/- earlier determined by the Assessing Officer. Consequently, fresh penalty proceedings u/s 271(1)(c) were initiated. 7. In response to notice of penalty

M/S SIZE CONTROL GAUGES AND TOOLS PVT. LTD. ,PUNE vs. DY CIT , CIRCLE- 5 , PUNE

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

Bench: Shri Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1864 To 1868/Pun/2025 निर्धारण वर्ा / Assessment Years : 2007-08 To 2011-12 M/S. Size Control Gauges Vs. Dcit, Circle-5, Pune. & Tools Pvt. Ltd., Plot No.100/101, Tiny Industries Co-Op. Estate Ltd., Pisoli Road, Kondhwa (Bk), Pune- 411048. Pan : Aaccs3670F Appellant Respondent

254 of the IT Act was passed and as per the direction of the Tribunal the addition on bogus purchase was restricted to Rs.2,03,116/- being 10% of the bogus purchases of Rs.20,31,158/- earlier determined by the Assessing Officer. Consequently, fresh penalty proceedings u/s 271(1)(c) were initiated. 7. In response to notice of penalty

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), PUNE vs. M/S. BILCARE LIMITED, PUNE

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.273/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 Dcit, Central Circle-2(2), Vs. M/S. Bilcare Limited, Pune. 601, Icc Trade Tower, Pune- 411016. Pan : Aabcb2242F Appellant Respondent आयकर अपीऱ सं. / Ita No.334/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 M/S. Bilcare Limited, Vs. Dcit, Central Circle- 6Th Floor, B Wing, Icc 2(2), Pune. Trade Tower, Senapati Bapat Road, Pune- 411006. Pan : Aabcb2242F Appellant Respondent

purchaser, therefore, the transaction was not undertaken at arm‟s length. C.O. No.14/PUN/2021 (iv) The Hon‟ble High Court of Republic Singapore had not determined the actual sale consideration and the whole transaction is premeditate, is dubious transactions entered into with the intention of claiming loss for availing the benefit of losses and proceeded to apply the ratio

M/S. BILCARE LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), PUNE

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.273/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 Dcit, Central Circle-2(2), Vs. M/S. Bilcare Limited, Pune. 601, Icc Trade Tower, Pune- 411016. Pan : Aabcb2242F Appellant Respondent आयकर अपीऱ सं. / Ita No.334/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 M/S. Bilcare Limited, Vs. Dcit, Central Circle- 6Th Floor, B Wing, Icc 2(2), Pune. Trade Tower, Senapati Bapat Road, Pune- 411006. Pan : Aabcb2242F Appellant Respondent

purchaser, therefore, the transaction was not undertaken at arm‟s length. C.O. No.14/PUN/2021 (iv) The Hon‟ble High Court of Republic Singapore had not determined the actual sale consideration and the whole transaction is premeditate, is dubious transactions entered into with the intention of claiming loss for availing the benefit of losses and proceeded to apply the ratio

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

254 (Gau) and Pr.CIT v.Paradise Inland Shipping (P.) Ltd. [2017] 400 ITR 439 (Bombay)). 9. The hon'ble Delhi High Court in its judgment in the case of MOD Creations (P) Ltd. v. ITO (354 ITR 282 (Del)], has addressed this important question very aptly and has held that, "A mere bald assertion by the A.O. that the credits were

ASHOK VIJAYKUMAR KOTECHA,JALGAON vs. ACIT, CIRCLE 1, JALGAON, JALGAON

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2011-12

purchased the shares of M/s. S.V. Electricals Ltd. / NITSL with the sole intention of earning profit from the penny stock and therefore, such transaction is clearly ‘adventure in the nature of trade’. He accordingly made addition of Rs.1,52,62,200/- u/s 68 of the Act treating the long term capital gain claimed as exempt by the assessee

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 1, AURANGABAD, AURANGABAD vs. M/S PARTHA MULTITRADE INDIA PVT LTD, MUMBAI

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita Nos.682 To 685/Pun/2022 िनधा"रण वष" / Assessment Years : 2009-10 To 2011-12 & 2013-14 Dcit, Central Circle-1, Vs. M/S. Partha Multitrade Aurangabad. India Pvt. Ltd. (Earlier Known As Swift Ventures Pvt. Ltd.), Flat No.1/5, A. S. Yadav Chawl Pada, Nr. Mahakali Mandir, Dahisar, Mumbai-400068. Pan : Aalcs3668L Appellant Respondent Revenue By : Shri Ajay Kumar Kesari Assessee By : None Date Of Hearing : 12.10.2023 Date Of Pronouncement : 30.11.2023 आदेश / Order Per Inturi Rama Rao, Am: These Are The Appeals Filed By The Revenue Directed Against The Common Order Of Ld. Commissioner Of Income Tax (Appeals)-12, Pune [‘The Cit(A)’] Dated 30.06.2022 For The Assessment Years 2009-10 To 2011-12 & 2013-14 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In All The Above Captioned Four Appeals Of The Revenue, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal Of The Revenue In Ita No.685/Pun/2022 For The Assessment Year 2013-14 Are Stated Herein.

1,71,00,000 5 Swift IT 29.11.2012 Jya Securities Pvt. Ltd. 5000 100 500000 Infrastructure Pvt. 29.11.2012 Satabdi Computers Pvt. Ltd. 25000 100 2500000 Ltd. 30,00,000 Grand Total 6,95,00,000 5. During the course of assessment proceedings, the Assessing Officer had sought the information from the purchaser companies

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, AURANGABAD, AURANGABAD vs. M/S PARTHA MULTRITRADE INDIA PVT LTD (EARLIER KNOWN AS SWIFT VENTURES PVT LTD., MUMBAI

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita Nos.682 To 685/Pun/2022 िनधा"रण वष" / Assessment Years : 2009-10 To 2011-12 & 2013-14 Dcit, Central Circle-1, Vs. M/S. Partha Multitrade Aurangabad. India Pvt. Ltd. (Earlier Known As Swift Ventures Pvt. Ltd.), Flat No.1/5, A. S. Yadav Chawl Pada, Nr. Mahakali Mandir, Dahisar, Mumbai-400068. Pan : Aalcs3668L Appellant Respondent Revenue By : Shri Ajay Kumar Kesari Assessee By : None Date Of Hearing : 12.10.2023 Date Of Pronouncement : 30.11.2023 आदेश / Order Per Inturi Rama Rao, Am: These Are The Appeals Filed By The Revenue Directed Against The Common Order Of Ld. Commissioner Of Income Tax (Appeals)-12, Pune [‘The Cit(A)’] Dated 30.06.2022 For The Assessment Years 2009-10 To 2011-12 & 2013-14 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In All The Above Captioned Four Appeals Of The Revenue, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal Of The Revenue In Ita No.685/Pun/2022 For The Assessment Year 2013-14 Are Stated Herein.

1,71,00,000 5 Swift IT 29.11.2012 Jya Securities Pvt. Ltd. 5000 100 500000 Infrastructure Pvt. 29.11.2012 Satabdi Computers Pvt. Ltd. 25000 100 2500000 Ltd. 30,00,000 Grand Total 6,95,00,000 5. During the course of assessment proceedings, the Assessing Officer had sought the information from the purchaser companies

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, AURANGABAD, AURANGABAD vs. M/S PARTHA MULTITRADE INDIA PVT LTD (EARLIER KNOWN AS SWIFT VENTURES PVT LTD), MUMBAI

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita Nos.682 To 685/Pun/2022 िनधा"रण वष" / Assessment Years : 2009-10 To 2011-12 & 2013-14 Dcit, Central Circle-1, Vs. M/S. Partha Multitrade Aurangabad. India Pvt. Ltd. (Earlier Known As Swift Ventures Pvt. Ltd.), Flat No.1/5, A. S. Yadav Chawl Pada, Nr. Mahakali Mandir, Dahisar, Mumbai-400068. Pan : Aalcs3668L Appellant Respondent Revenue By : Shri Ajay Kumar Kesari Assessee By : None Date Of Hearing : 12.10.2023 Date Of Pronouncement : 30.11.2023 आदेश / Order Per Inturi Rama Rao, Am: These Are The Appeals Filed By The Revenue Directed Against The Common Order Of Ld. Commissioner Of Income Tax (Appeals)-12, Pune [‘The Cit(A)’] Dated 30.06.2022 For The Assessment Years 2009-10 To 2011-12 & 2013-14 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In All The Above Captioned Four Appeals Of The Revenue, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal Of The Revenue In Ita No.685/Pun/2022 For The Assessment Year 2013-14 Are Stated Herein.

1,71,00,000 5 Swift IT 29.11.2012 Jya Securities Pvt. Ltd. 5000 100 500000 Infrastructure Pvt. 29.11.2012 Satabdi Computers Pvt. Ltd. 25000 100 2500000 Ltd. 30,00,000 Grand Total 6,95,00,000 5. During the course of assessment proceedings, the Assessing Officer had sought the information from the purchaser companies

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 1, , AURANGABAD vs. M/S PARTHA MULTITRADE INDIA PVT LTD, MUMBAI

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita Nos.682 To 685/Pun/2022 िनधा"रण वष" / Assessment Years : 2009-10 To 2011-12 & 2013-14 Dcit, Central Circle-1, Vs. M/S. Partha Multitrade Aurangabad. India Pvt. Ltd. (Earlier Known As Swift Ventures Pvt. Ltd.), Flat No.1/5, A. S. Yadav Chawl Pada, Nr. Mahakali Mandir, Dahisar, Mumbai-400068. Pan : Aalcs3668L Appellant Respondent Revenue By : Shri Ajay Kumar Kesari Assessee By : None Date Of Hearing : 12.10.2023 Date Of Pronouncement : 30.11.2023 आदेश / Order Per Inturi Rama Rao, Am: These Are The Appeals Filed By The Revenue Directed Against The Common Order Of Ld. Commissioner Of Income Tax (Appeals)-12, Pune [‘The Cit(A)’] Dated 30.06.2022 For The Assessment Years 2009-10 To 2011-12 & 2013-14 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In All The Above Captioned Four Appeals Of The Revenue, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal Of The Revenue In Ita No.685/Pun/2022 For The Assessment Year 2013-14 Are Stated Herein.

1,71,00,000 5 Swift IT 29.11.2012 Jya Securities Pvt. Ltd. 5000 100 500000 Infrastructure Pvt. 29.11.2012 Satabdi Computers Pvt. Ltd. 25000 100 2500000 Ltd. 30,00,000 Grand Total 6,95,00,000 5. During the course of assessment proceedings, the Assessing Officer had sought the information from the purchaser companies