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 gains arising out of sale of different shares as fair and transparent by submitting records of purchase bills, sale bills, demat statement etc., same not being earned from bogus companies was eligible for exemption under section 10(38). 27. Referring to the decision of Hon'ble Supreme Court in the case of Principal Commissioner of Income-tax Vs Renu

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

capital gain earned on said transaction could not be treated as\nunaccounted income under section 68. The relevant observations of the Hon'ble\nHigh Court read as under:\n\n\"5. We have perused the concurrent findings and on which heavy reliance is\nplaced by Mr.Sureshkumar. While it is true that the Commissioner extensively\nreferred to the correspondence

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 found that the\nSEBI report based on which the Assessing Officer had\nmade additions was an interim report and in the final\nreport there was no adverse finding. The SEBI in the\nfinal report had not made

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

20,000/-.” 3.2 The assessee further submitted that the sale consideration of Rs.70,50,000/- should not be considered for computation of long term 3 ITA No.608/PUN/2024, AY 2011-12 capital gain tax as property in question is a Inam/Inami land which was received by the ancestors of the assessee and has no cost of acquisition. Relying on the decision

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)

20,000 shares of Mantra Online Ltd for the total consideration of Rs.25,93,150/-. These shares were sold and how they were sold, on what dates and for what consideration and the sums received by cheques have been referred extensively by the Tribunal in para 10. A copy of the DMAT account, placed at pages

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

capital gain u/s 10(38) of the Act and Rs.3,20,614/- on account of unexplained expenditure u/s 69C of the Act. 8. Before the Ld. CIT(A) the assessee apart from challenging the addition on merit, challenged the validity of reopening of assessment u/s 147 of the Act on the ground that in absence of any tangible material

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

capital gain u/s 10(38) of the Act and Rs.3,20,614/- on account of unexplained expenditure u/s 69C of the Act. 8. Before the Ld. CIT(A) the assessee apart from challenging the addition on merit, challenged the validity of reopening of assessment u/s 147 of the Act on the ground that in absence of any tangible material

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

capital gain u/s 10(38) of the Act and Rs.3,20,614/- on account of unexplained expenditure u/s 69C of the Act. 8. Before the Ld. CIT(A) the assessee apart from challenging the addition on merit, challenged the validity of reopening of assessment u/s 147 of the Act on the ground that in absence of any tangible material

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

capital gain u/s 10(38) of the Act and Rs.3,20,614/- on account of unexplained expenditure u/s 69C of the Act. 8. Before the Ld. CIT(A) the assessee apart from challenging the addition on merit, challenged the validity of reopening of assessment u/s 147 of the Act on the ground that in absence of any tangible material

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

capital gain u/s 10(38) of the Act and Rs.3,20,614/- on account of unexplained expenditure u/s 69C of the Act. 8. Before the Ld. CIT(A) the assessee apart from challenging the addition on merit, challenged the validity of reopening of assessment u/s 147 of the Act on the ground that in absence of any tangible material

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

capital gain u/s 10(38) of the Act and Rs.3,20,614/- on account of unexplained expenditure u/s 69C of the Act. 8. Before the Ld. CIT(A) the assessee apart from challenging the addition on merit, challenged the validity of reopening of assessment u/s 147 of the Act on the ground that in absence of any tangible material

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

capital gain u/s 10(38) of the Act and Rs.3,20,614/- on account of unexplained expenditure u/s 69C of the Act. 8. Before the Ld. CIT(A) the assessee apart from challenging the addition on merit, challenged the validity of reopening of assessment u/s 147 of the Act on the ground that in absence of any tangible material

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

capital gain u/s 10(38) of the Act and Rs.3,20,614/- on account of\nunexplained expenditure u/s 69C of the Act.\n8. Before the Ld. CIT(A) the assessee apart from challenging the addition on\nmerit, challenged the validity of reopening of assessment u/s 147 of the Act on the\nground that in absence of any tangible material

MR POPATRAO DASHRATHRAO SURYAWANSHI,PUNE vs. INCOME TAX OFFICER, WARD-7(4), PUNE, PUNE

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2017-18 Mr. Popatrao Dashrathrao Suryawanshi Ito, Ward 7(4), Pune S.No.38, Tingre Nagar, Havaldar Mala, Vs. Vishrantwadi, Pune – 411015 Pan: Adhps2643F (Appellant) (Respondent) Assessee By : Shri Suhas Bora Department By : Shri Manish Mehta, Addl.Cit Date Of Hearing : 19-01-2026 Date Of Pronouncement : 21-01-2026 O R D E R

10 Hon’ble Bombay High Court in the case of Ciba of India Ltd vs. CIT reported in 70 Taxman 505 (Bom), he submitted that the assessee can raise an alternate plea / ground before the Tribunal even if not raised earlier. 17. The Ld. Counsel for the assessee submitted that both the lower authorities have given a concurrent finding that

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%, inter alia, for termination of management rights. 14. Now we turn to section 28(va), which embodies two elements, viz., (a) not carrying out any activity in relation to any business or profession; and (b) not sharing any know-how, patent, copyright, trade-mark, licence, franchise or any other business or commercial right of similar nature or information

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%, inter alia, for termination of management rights. 14. Now we turn to section 28(va), which embodies two elements, viz., (a) not carrying out any activity in relation to any business or profession; and (b) not sharing any know-how, patent, copyright, trade-mark, licence, franchise or any other business or commercial right of similar nature or information

QUBIX BUSINESS PARK PRIVATE LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-8, PUNE, PUNE

In the result, Ground No.2 of the assessee is allowed for statistical purpose

Bench: DR.DIPAK P. RIPOTE (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)

10 also relied on the decision of Hon’ble Supreme Court in the case Wipro Limited. Findings & Analysis : 5. We have heard both the parties and perused the records. Ground No.7 : 5.1 The basic facts pertaining to this ground are that assessee company filed Return of Income electronically for A.Y.2020-21 on 29.01.2021 declaring total income of Rs.2

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

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

10(38). 14. Referring to the decision of Hon’ble Calcutta High Court in the case of PCIT vs. Swati Bajaj reported in (2022) 446 ITR 56 (Calcutta), he submitted that the Hon’ble High Court in the said decision has discussed in detail one such action taken by Directorate of Income Tax (Investigation) at Kolkatta which identified