HARSHAD HIMMATLAL RUPANI,PUNE vs. ITO WARD 5(2), PUNE

In the result the ground number 3 is allowed for Statistical

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपऩल सं. / Ita No.920/Pun/2025 निर्धारण वषा / Assessment Year: 2014-15 Harshad Himmatlal Rupani, V The Income Tax Officer, 101/102, Ashoka Building, S Ward-5(1), Pune. Green Valley Housing Society, Wanwadi, Pune – 411040. Pan: Adopr6163Q Appellant/ Assessee Respondent / Revenue Assessee By Shri Mahavir Jain Revenue By Smt Neha Thakur – (Virtual) Date Of Hearing 21/01/2026 Date Of Pronouncement 28/01/2026 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Against The Order Of Ld.Commissioner Of Income Tax(Appeal)[Nfac], Passed Under Section 250 Of The Income Tax Act, 1961 For A.Y.2014-15 Dated 26.08.2024 Emanating From The Assessment Order Passed Under Section 143(3) Of The Income Tax Act, 1961, Dated 22.11.2016. The Assessee Has Raised The Following Grounds Of Appeal :

Bogus Sundry Creditors have been mentioned by the Assessing Officer, ITO Ward-5(3), Pune. 4.2) The ITO also made addition of Rs.12,97,808/- on account of difference in TDS credit. 4.3) Aggrieved by the Assessment Order the Assessee filed appeal before Ld.Commissioner of Income Tax(Appeal).Assessee also filed certain documents before CIT(A) who called for Remand

NIWAS SPINNING MILLS LIMITED,SOLAPUR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, SOLAPUR

The appeal is allowed in above terms

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.724/Pun/2023 िनधा"रण वष" / Assessment Year : 2016-17 Niwas Spinning Mills Ltd., The Acit, C/O. Vijay Ramniwas Jaju, 406- V Circle-1, Solapur. A, West Mangalwar Peth, Chati S Galli, Solapur – 413002. Pan: Aaacn6350 P Appellant / Assessee Respondent / Revenue Assessee By Shri Girish Ladda – Ar Revenue By Shri Ramnath P Murkunde – Dr Date Of Hearing 29/08/2023 Date Of Pronouncement 30/10/2023

Section 41(1) is a deeming provision and hence penalty u/s 271(1)(C) not applicable on deeming additions. 4) None of the creditors were found to be sham or bogus by the AO. 5) All the creditors were genuine regular business creditors, ledgers attached from Page 4-37 of PB to prove that credit balances arose out of regular

DEPUTY COMMISSIONER OF INCOME TAX, AURANGABAD vs. SURYACHANDRA LALMANI DUBEY, AURANGABAD

In the result, appeal of the Revenue is allowed

Bench: SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND DR.DIPAK P. RIPOTE (Accountant Member)

bogus purchases of Rs.36,56,250/- and suppression of gross profit. Further, reason to believe is based on escapement of income to tune of Rs.36,56,250/-. Thus Ld. AO had formed her own independent opinion with respect to reason to believe in escapement of income as required by Section 148 of the I T Act 1961. With respect

DCIT-CIRCLE 7 PUNE, BODHI TOWER SALISBURY PARK PUNE vs. TRIO CHEMSUCROTECH ENG. PROJECTS PVT. LTD, PUNE

purchases and expenses and also based on the information collected from the assessee observed that the assessee company has arranged bogus expenses of Rs.24.24 crore which inter alia included bogus commission expenses also. When the assessee was confronted, it was submitted that these bogus losses have been arranged to cover up the inflated project value invoiced to TIL by Rs.26.55

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

purchased and sold\nand LTCG is claimed as exempt in the return of income thereby routing her undisclosed income / into the\naccounts. In view of above, there exist reasons to believe that the income arising out of sale of shares of penny\nstock company PLFIL have escaped assessment.\n7. Applicability of the provision of section 147/151 to the facts

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

purchased and sold\nand LTCG is claimed as exempt in the return of income thereby routing her undisclosed income / into the\naccounts. In view of above, there exist reasons to believe that the income arising out of sale of shares of penny\nstock company PLFIL have escaped assessment म\n\n7. Applicability of the provision of section 147/151

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

41. Before us, both sides had agreed and are in agreement with the decision of this Tribunal for earlier years (supra). The relevant portion of the decision of the Tribunal in assessee‟s own case for the assessment year 2015-16 is extracted below :- ―5.2. There can be no doubt that ordinarily the internal TNMM gets precedence over the external

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

41. Before us, both sides had agreed and are in agreement with the decision of this Tribunal for earlier years (supra). The relevant portion of the decision of the Tribunal in assessee‟s own case for the assessment year 2015-16 is extracted below :- ―5.2. There can be no doubt that ordinarily the internal TNMM gets precedence over the external

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

purchased and sold\nand LTCG is claimed as exempt in the return of income thereby routing her undisclosed income / into the\naccounts. In view of above, there exist reasons to believe that the income arising out of sale of shares of penny\nstock company PLFIL have escaped assessment\n\n7. Applicability of the provision of section 147/151 to the facts

SHIV SHRADDHA DEVELOPER,NAVI MUMBAI vs. ACIT, CIRCLE -3 KALYAN , KALYAN

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

Bench: Shri Inturi Rama Rao & Ms. Astha Chandraआयकर अपील सं. / Ita No.944/Pun/2023 "नधा"रण वष" Assessment Year : 2010-11

bogus purchases. Therefore, we doubt the correctness of the invocation of provisions of section 69C of the Act. In any event, the law is very well settled that the finding recorded by the AO are relevant evidences to support the allegation of this concealment but this cannot be the foundation for holding guilty of concealment. The fiction created u/s.69C itself

M/S. M M BROTHERS,DHULE vs. ITO, WARD 1, DHULE, DHULE

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

Bench: SHRI MANISH BORAD (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)

bogus purchases cannot be made. Other relief of Rs.42,500/- was also allowed by Ld. CIT(A). 5. Subsequently, the Assessing Officer vide order dated 25.03.2019 levied penalty of Rs.5,41,076/- u/s 271(1)(c) of the IT Act on the alleged concealed income of Rs.14,64,299/- which was recomputed by estimating gross profit

JAIBHAGWAN BANARASIDAS JINDAL,JALNA vs. THE INCOME TAX OFFICER, WARD-1, JALNA

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2016-17

bogus long term capital and made addition of Rs.85,38,145/- u/s 68 of the Act. We find before the Ld. CIT(A) / NFAC, the assessee apart from challenging the addition on merit, challenged the validity of re-assessment proceedings. We find the Ld. CIT(A) / NFAC upheld the validity of re-assessment proceedings and sustained the addition on merit

HAMAJA MOHAMMED MALPEKAR,RATNAGIRI vs. INCOME TAX OFFICER, RATNAGIRI WARD, RATNAGIRI

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

bogus liabilites created out of thin air by the assessee of which he has no documentary evidences. The assessee is making concoted afterthought stories which are not supported by any rationale or evidences. Therefore, an amount of Rs.19,72,000/- is hereby disallowed and added to the total income of the assessee being cessation of liability under the provisions

ASSISTANT COMMISSIONER OF INCOME TAX, CIRLE 1, KOLHAPUR, KOLHAPUR vs. HAMAJA MOHAMMED MALPEKAR, MAHARASHTRA

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

bogus liabilites created out of thin air by the assessee of which he has no documentary evidences. The assessee is making concoted afterthought stories which are not supported by any rationale or evidences. Therefore, an amount of Rs.19,72,000/- is hereby disallowed and added to the total income of the assessee being cessation of liability under the provisions

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

purchased back even at a loss, share transactions in question were to be regarded as bogus and, thus, amount received from said transactions was to be added to assesee's taxable income under section 68 13. We have heard the rival submissions and perused the record placed before us. Through this appeal the assessee has challenged the validity

M.M. PATEL PUBLIC CHARITABLE TRUST,SOLAPUR vs. PCIT- CENTRAL, PUNE, PUNE

In the result, the appeal of the assessee is partly allowed

section (3) of section 143 for any\nprevious year; or\nc) Such case has been selected in accordance with the risk\nmanagement strategy, formulated by the Board from time to\ntime, for any previous year;\nThe Principal Commissioner or Commissioner shall—\ni.\ncall for such documents or information from the trust\nor institution, or make such inquiry as he thinks

M/S KUTE SONS DAIRYS LTD.,SATARA vs. PRINCIPAL COMMISSIONER OF INCOME-TAX -3,, PUNE

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita No.410/Pun/2022 िनधा"रण वष" / Assessment Year : 2017-18 M/S. Kute Sons Dairys Ltd., Vs. Pcit-3, Pune. S.No.406/407, At Nimbhore, Post Surwadi, Taluka Phaltan, Satara- 415523. Pan : Aabck0391C Appellant Respondent Assessee By : Shri N. K. Rander Revenue By : Shri Keyur Patel Date Of Hearing : 09.05.2023 Date Of Pronouncement : 15.05.2023 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld. Pr. Commissioner Of Income Tax-3, Pune (‘The Pcit’) Dated 30.03.2022 Passed U/S 263 Of The Income Tax Act, 1961 (‘The Act’) For The Assessment Year 2017-18. 2. The Appellant Raised The Following Grounds Of Appeal :- “1. Pr. Commissioner Of Income Tax Has Erred In Initiating Proceedings U/S.263 & Passing The Order Without Proper Jurisdiction. Appellant Prays To Declare Proceedings & Order Bad In Law.

purchased which is accepted by Assessing Officer after full application of mind. Therefore, appellant prays to cancel the Pr. CIT’s Order on the issue. 4. Pr. Commissioner has erred in setting aside case for applicability of Section 41(1). Appellant prays to cancel the Pr. CIT’s Order on the issue. 5. Appellant prays to add, alter, amend, modify

JAYESH VALLABH THAKKAR,,NASHIK vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 2, , NASHIK

Appeals of the assessee are DISMISSED

Bench: Hon’Ble Shri S. S. Godara & Shri G. D. Padmahshaliआयकर अपऩल सं. / Ita No. 809/Pun/2018 निर्धारण वर्ा / Assessment Year : 2014-15 Mr. Jayesh Vallabh Thakkar, 7, The Acit, Circle-2, Chopda Estate, Kalanagar, Vs Kendriya Rajaswa Bhavan, Nashik–422 022 Maharashtra. Gadkari Chowk, Old Agra Pan Aakpt6870D Road, Nashik. (Appellant) (Respondent) आयकर अपऩल सं. / Ita No. 810/Pun/2018 निर्धारण वर्ा / Assessment Year : 2014-15 Mr. Bhavik Jayesh Thakkar, 7, The Ito, Ward-2 (4), Neelkanth, Behind Kalanagar, Vs Kendriya Rajaswa Bhavan, Gangapur Road, Gadkari Chowk, Old Agra Nashik–422 022 Maharashtra. Road, Nashik. Pan Agcpt7925M (Appellant) (Respondent) आयकर अपऩल सं. / Ita No. 811/Pun/2018 निर्धारण वर्ा / Assessment Year : 2014-15 Smt. Jayshree J. Thakkar, The Ito, Ward-2 (4), 7, Chopda Estate, Kalanagar Vs Kendriya Rajaswa Bhavan, Gangapur Road, Gadkari Chowk, Old Agra Nashik–422 022 Maharashtra. Road, Nashik. Pan Aakpt6871D (Appellant) (Respondent) आयकर अपऩल सं. / Ita No. 812/Pun/2018 निर्धारण वर्ा / Assessment Year : 2014-15 Ku. Anisha Jayesh Thakkar, The Ito, Ward-2 (4), 7, Chopda Estate, Kalanagar Vs Kendriya Rajaswa Bhavan, Nashik–422 022 Maharashtra. Gadkari Chowk, Old Agra Pan Afzpt1110Q Road, Nashik. (Appellant) (Respondent)

section 143(3) dated 26/12/2016 passed by the Assessing Officer is bad in law and the Commissioner of Income Tax(Appeals)-2, Nashik has erred in confirming the same. 7. The assessee appeals to grant any relief that may be due to the Assessee under the Income Tax Act, 1961.” 8. The appellant craves leave to add, amend or alter