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

capital gain exempt under section 10(38) of the Income Tax Act by holding as non genuine and unexplained cash

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

section 10(38) of the Act. The assessee is one of the beneficiaries of this penny stock company\nlisted on BSE Script Code 531769. It was stated that this company has been used to facilitate introduction of\nunaccounted income of members or beneficiaries in the form of exempt capital gain

DADASAHEB TIRODKAR SHAIKSHANIK ACADEMY,SINDHUDURG vs. ITOD EXEMPTION WARD, KOLHAPUR

In the result, appeal of the assessee is partly allowed

10(21)\n11\n12\nCOME\nIncome claimed/ exempt under section 13A or 13B in case of a Political Party or Electoral Trust (Fill\nSchedule LA or ET)\nTAX DEPARTMEN\n12\n0\na\nIncome claimed/ exempt under section 13A\n12a\nb\nincome claimed/ exempt under section 13B\n12b\n13\nIncome not forming part of item no. 7 and 11 above

SMT. SUMANDEVI DINESHKUMAR TULSYAN,,NASHIK vs. INCOME-TAX OFFICER, WARD - 1(5),, NASHIK

capital gain, as long term\ncapital gain is exempt under section 10(38) of the Act.\nThe Principal CIT (A) and the Tribunal

RAJANI PRAKASH KASHID,KOLHAPUR vs. ITO, WARD 1(4), KOLHAPUR, KOLHAPUR

In the result, the appeal of assessee is allowed

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

10-07-2024 Date of 01-10-2024 Pronouncement : आदेश / ORDER PER ASTHA CHANDRA, JM : The appeal filed by the assessee is directed against the order dated 29.01.2024 of the Ld. Commissioner of Income Tax (Appeals)/NFAC, Delhi [“CIT(A)”] pertaining to Assessment Year (“AY”) 2011-12. 2. The assessee has raised the following grounds of appeal

DINESHKUMAR RAMCHANDRA TULSYAN (HUF),,NASHIK vs. INCOME-TAX OFFICER, WARD - 1(5),, NASHIK

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2014-15 Dineshkumar Ramchandra Tulsyan (Huf) Ito, Ward 1(5), 214B, Laxmi Niwas, Mahatma Nagar, Vs. Nashik Nashik – 422007 Pan: Aachd5953R (Appellant) (Respondent) Assessment Year : 2014-15 Smt. Sumandevi Dineshkumar Tulsyan Ito, Ward 1(5), 214B, Laxmi Niwas, Mahatma Nagar, Vs. Nashik Nashik – 422007 Pan: Ackpt1322Q (Appellant) (Respondent)

section 10 and treating long term capital gain as taxable and the learned Commissioner of Income Tax (Appeals)-1, Nashik

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. OMPRAKASH ASARAM 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) of the Act. The assessee was one of the beneficiaries of this penny stock company listed on BSE with Scrip Code 517534. Also it was stated that this company has been used to facilitate introduction of unaccounted income of members or beneficiaries in the form of exempt capital gain

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) of the Act. The assessee was one of the beneficiaries of this penny stock company listed on BSE with Scrip Code 517534. Also it was stated that this company has been used to facilitate introduction of unaccounted income of members or beneficiaries in the form of exempt capital gain

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. OMPRAKASH ASARAM 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) of the Act. The assessee was one of the beneficiaries of this penny stock company listed on BSE with Scrip Code 517534. Also it was stated that this company has been used to facilitate introduction of unaccounted income of members or beneficiaries in the form of exempt capital gain

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. PRAMILA 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) of the Act. The assessee was one of the beneficiaries of this penny stock company listed on BSE with Scrip Code 517534. Also it was stated that this company has been used to facilitate introduction of unaccounted income of members or beneficiaries in the form of exempt capital gain

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) of the Act. The assessee was one of the beneficiaries of this penny stock company listed on BSE with Scrip Code 517534. Also it was stated that this company has been used to facilitate introduction of unaccounted income of members or beneficiaries in the form of exempt capital gain

INCOME TAX OFFICER, WARD -1, JALNA, JALNA vs. PRAMILA 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) of the Act. The assessee was one of the beneficiaries of this penny stock company listed on BSE with Scrip Code 517534. Also it was stated that this company has been used to facilitate introduction of unaccounted income of members or beneficiaries in the form of exempt capital gain

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. ASHISH 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) of the Act. The assessee was one of the beneficiaries of this penny stock company listed on BSE with Scrip Code 517534. Also it was stated that this company has been used to facilitate introduction of unaccounted income of members or beneficiaries in the form of exempt capital gain

INCOME TAX OFFICER, PUNE vs. PRAKASH RAMKRISHNA POPHALE, PUNE

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2017-18

section referred to as the original asset), and the assessee has within a period of one year before or two years after the date on which the transfer took place purchased], or has within a period of three years after that date 1 ''[constructed, one residential house in India], 10 then], instead of the capital gain

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

section 10(38) of the Act. The assessee was one of the beneficiaries of\nthis penny stock company listed on BSE with Scrip Code 517534. Also it was\nstated that this company has been used to facilitate introduction of unaccounted\nincome of members or beneficiaries in the form of exempt capital gain

DY. COMMISSIONER OF INCOME TAX (EXEMPTIONS), CIRCLE, PUNE, SWARGATE,PUNE vs. MAHARASHTRA STATE BOARD OF SECONDARY & HIGHER SECONDARY EDUCATION, PUNE

In the result, the appeal of the assessee is allowed

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2022-23

capital gains 7 CO No.19/PUN/2025 from sale of shares u/s 10 but by mistake, omitted to exclude them, Commissioner should rectify the return and revision could not be denied. 9. Referring to the decision of the Delhi Bench of the Tribunal in the case of Smt. Ashrafi Devi Shiksha Samiti vs. ITO reported in (2025) 172 taxmann.com 568 (Delhi-Trib

JAYANT AVINASH DAVE,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE 5 , PUNE

In the result, the cross appeals are partly allowed for statistical purposes and the CO is dismissed as infructuous

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.23/Pun/2019 निर्धारण वषा / Assessment Year : 2015-2016 Jayant Avinash Dave Vs. Dcit, Office No.801-804, 8Th Floor, Circle 5, Pune Amar Business Park, Sadanand Estates, Plot No.1, S.No.105, Baner Road, Pune – 411045 Pan: Aaqpd6875J Appellant Respondent आयकर अपीऱ सं. / Ita No.182/Pun/2019 निर्धारण वषा / Assessment Year : 2015-2016 Dcit, Vs. Jayant Avinash Dave Circle 5, Pune 46/2/1B, Kaka Halwai Industrial Estate, Pune Satara Road, Pune – 411009 Pan: Aaqpd6875J Appellant Respondent Cross Objection No.11/Pun/2022 (Arising Out Of Ita No.182/Pun/2019 निर्धारण वषा / Assessment Year : 2015-2016 Jayant Avinash Dave Vs. Dcit, Office No.801-804, 8Th Floor, Amar Circle 5, Pune Business Park, Sadanand Estates, Plot No.1, S.No.105, Baner Road, Pune – 411045 Pan: Aaqpd6875J Cross Objector Respondent & Co No.11/Pun/2022

10% of the consideration to non-compete clause and termination of the management. Now, the moot question is to find out if the assessee received Rs.85.79 crore only towards transfer of shares liable to tax under the head `Capital gains‘ or such amount or a part thereof was attributable to termination of role in management and non compete obligation

DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 5,, PUNE vs. JAYANT AVINASH DAVE,, PUNE

In the result, the cross appeals are partly allowed for statistical purposes and the CO is dismissed as infructuous

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.23/Pun/2019 निर्धारण वषा / Assessment Year : 2015-2016 Jayant Avinash Dave Vs. Dcit, Office No.801-804, 8Th Floor, Circle 5, Pune Amar Business Park, Sadanand Estates, Plot No.1, S.No.105, Baner Road, Pune – 411045 Pan: Aaqpd6875J Appellant Respondent आयकर अपीऱ सं. / Ita No.182/Pun/2019 निर्धारण वषा / Assessment Year : 2015-2016 Dcit, Vs. Jayant Avinash Dave Circle 5, Pune 46/2/1B, Kaka Halwai Industrial Estate, Pune Satara Road, Pune – 411009 Pan: Aaqpd6875J Appellant Respondent Cross Objection No.11/Pun/2022 (Arising Out Of Ita No.182/Pun/2019 निर्धारण वषा / Assessment Year : 2015-2016 Jayant Avinash Dave Vs. Dcit, Office No.801-804, 8Th Floor, Amar Circle 5, Pune Business Park, Sadanand Estates, Plot No.1, S.No.105, Baner Road, Pune – 411045 Pan: Aaqpd6875J Cross Objector Respondent & Co No.11/Pun/2022

10% of the consideration to non-compete clause and termination of the management. Now, the moot question is to find out if the assessee received Rs.85.79 crore only towards transfer of shares liable to tax under the head `Capital gains‘ or such amount or a part thereof was attributable to termination of role in management and non compete obligation