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 68 of the Act. The Tribunal while dismissing the appeals filed by the Revenue also observed on facts that these shares were purchased by respondent on the floor of Stock Exchange and not from the said broker, deliveries were taken, contract notes were issued and shares were also sold on the floor of Stock Exchange. The ITAT therefore

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 as claimed by the assessee on the premise that entire transaction of purchase and sale of shares were a part of accommodation entry and represents unexplained investment made by assessee in cash to obtain an equivalent amount of bogus profit on sale of shares. 7. We find nothing to indicate failure to disclose any material fact. Upon examining

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 as claimed by the assessee on the premise that entire transaction of purchase and sale of shares were a part of accommodation entry and represents unexplained investment made by assessee in cash to obtain an equivalent amount of bogus profit on sale of shares. 7. We find nothing to indicate failure to disclose any material fact. Upon examining

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 as claimed by the assessee on the premise that entire transaction of purchase and sale of shares were a part of accommodation entry and represents unexplained investment made by assessee in cash to obtain an equivalent amount of bogus profit on sale of shares. 7. We find nothing to indicate failure to disclose any material fact. Upon examining

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 as claimed by the assessee on the premise that entire transaction of purchase and sale of shares were a part of accommodation entry and represents unexplained investment made by assessee in cash to obtain an equivalent amount of bogus profit on sale of shares. 7. We find nothing to indicate failure to disclose any material fact. Upon examining

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 as claimed by the assessee on the premise that entire transaction of purchase and sale of shares were a part of accommodation entry and represents unexplained investment made by assessee in cash to obtain an equivalent amount of bogus profit on sale of shares. 7. We find nothing to indicate failure to disclose any material fact. Upon examining

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 as claimed by the assessee on the premise that entire transaction of purchase and sale of shares were a part of accommodation entry and represents unexplained investment made by assessee in cash to obtain an equivalent amount of bogus profit on sale of shares. 7. We find nothing to indicate failure to disclose any material fact. Upon examining

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 as claimed by the assessee on the premise that entire transaction of purchase and sale of shares were a part of accommodation entry and represents unexplained investment made by assessee in cash to obtain an equivalent amount of bogus profit on sale of shares. 7. We find nothing to indicate failure to disclose any material fact. Upon examining

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

34% of construction area. The terms and conditions of the agreement clearly show that the assessee has transferred the land to the developers for development purpose and the joint venture agreement is also a registered agreement. He noted that the assessee has converted his agricultural land as stock in trade and is paying tax on the capital gain

SITARAM R. RAHANE,NASHIK vs. INCOME TAX OFFICE. WARD 3, AHMEDNAGAR

In the result, appeal of the assessee is Partly Allowed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.650/Pun/2020 िनधा"रण वष" / Assessment Year : 2016-17 Shri Sitaram Raosaheb Rahane, The Income Tax Officer, Flat No.3, Oscar Pride, Date V Ward-3, Ahmednagar. Colony, Behind Atharva S Mangal Karyalaya, Savarkar Nagar, Gangapur Road, Nashik – 422013. Pan: Afapr 3796 R Appellant/ Assessee Respondent /Revenue Assessee By Shri Sanket Joshi – Ar Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 26/04/2023 Date Of Pronouncement 30/06/2023 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Directed Against The Order Of Ld.Commissioner Of Income Tax(Appeals)-2, Pune Dated 22.01.2020 Emanating From Assessment Order Under Section 143(3) Of The Income Tax Act, 1961 Dated 22.12.2018. The Assessee Has Raised The Following Grounds Of Appeal: Shri Sitaram Raosaheb Rahane [A]

Section 54B. Hence, the Assessee is not eligible for deduction u/s 54B. Accordingly, the Assessment Order is upheld. Accordingly ground number 1 to 5 are dismissed. Ground Number 7: 8. The assessee pleaded that the impugned sale deeds of 13 Shri Sitaram Raosaheb Rahane [A] Original Assets were not executed in A.Y.2016-17 hence no capital gain in A.Y.2016-17. However

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION, KOLHAPUR, KOLHAPUR

In the result, all the appeals filed by the assessee are partly allowed as per terms indicated hereinabove

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1121 To 1126/Pun/2024 Assessment Years : 2012-13 To 2017-18

34 (SC) The Supreme Court held that at the stage of reopening, the AO only needs to form a prima facie belief that income has escaped assessment. The sufficiency or correctness of reasons or the specific section is not to be judged at that stage. In view of the above facts and the decisions relied upon, the ground raised

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION, KOLHAPUR

In the result, all the appeals filed by the assessee are partly allowed as per terms indicated hereinabove

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1121 To 1126/Pun/2024 Assessment Years : 2012-13 To 2017-18

34 (SC) The Supreme Court held that at the stage of reopening, the AO only needs to form a prima facie belief that income has escaped assessment. The sufficiency or correctness of reasons or the specific section is not to be judged at that stage. In view of the above facts and the decisions relied upon, the ground raised

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION, KOLHAPUR, KOLHAPUR

In the result, all the appeals filed by the assessee are partly allowed as per terms indicated hereinabove

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1121 To 1126/Pun/2024 Assessment Years : 2012-13 To 2017-18

34 (SC) The Supreme Court held that at the stage of reopening, the AO only needs to form a prima facie belief that income has escaped assessment. The sufficiency or correctness of reasons or the specific section is not to be judged at that stage. In view of the above facts and the decisions relied upon, the ground raised

DEPUTY COMMISSIONER OF INCOME TAX, AURANGABAD vs. ASHISH JUGALKISHOR BHALA, JALNA

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2021-22 Dcit, Aurangabad Ashish Jugalkishor Bhala Mamta Hospital, Shivaji Putla Road, Vs. Bharat Nagar, Jalna – 431203 Maharashtra Pan: Ahmpb3683K (Appellant) (Respondent) Assessee By : Shri Anand Partani Department By : Shri Ramnath P Murkunde Date Of Hearing : 01-04-2025 Date Of Pronouncement : 16-06-2025 O R D E R

34,67,670/- paid up capital Rs. 10/- face value of equity shares). 5.2.4 The appellant has made the submission as to why there is no scope for estimating the value of equity shares under rule 11UA of the Income Tax Rules. The factors like concept of safe harbor limit or tolerance band or discount for lack of marketability apply

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

capital gain on adhoc basis. The Ld. Counsel for the assessee filed the following chart: Search material in case of Mr. Dilip Kotecha Date of search – search – 9/8/2011 Search Asstt Date Particulars Qty. Rate Amount materia Order l Page Page No. No. 20 29.11.10 Dellip Kotecha 25,000 154.43 38,60,850 20 1.12.10 Dellip Kotecha

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION , KOLHAPUR, KOLHAPUR

In the result, all the appeals filed by the assessee are\npartly allowed as per terms indicated hereinabove

34 (SC)\nThe Supreme Court held that at the stage of reopening, the AO only\nneeds to form a prima facie belief that income has escaped\nassessment. The sufficiency or correctness of reasons or the specific\nsection is not to be judged at that stage.\nIn view of the above facts and the decisions relied upon, the ground\nraised

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION, KOLHAPUR, KOLHAPUR

In the result, all the appeals filed by the assessee are\npartly allowed as per terms indicated hereinabove

34 (SC)\nThe Supreme Court held that at the stage of reopening, the AO only\nneeds to form a prima facie belief that income has escaped\nassessment. The sufficiency or correctness of reasons or the specific\nsection is not to be judged at that stage.\nIn view of the above facts and the decisions relied upon, the ground\nraised

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION, KOLHAPUR

In the result, all the appeals filed by the assessee are\npartly allowed as per terms indicated hereinabove

34 (SC)\nThe Supreme Court held that at the stage of reopening, the AO only\nneeds to form a prima facie belief that income has escaped\nassessment. The sufficiency or correctness of reasons or the specific\nsection is not to be judged at that stage.\nIn view of the above facts and the decisions relied upon, the ground\nraised

PIAGGIO VEHICLES PVT LTD ,PUNE vs. ACIT, CIRCLE 4, PUNE, PUNE

In the result, the appeal of the assessee is dismissed

Bench: Ms. Astha Chandra & Shree Dr. Dipak P. Ripote

34. For the aforesaid reasons, the first question formulated in the appeal has to be answered against the appellant-assessee by holding that Section 14A of the Act would apply to dividend income on which tax is payable under Section 115-O of the Act.” [Emphasized by us] The aspect which weighed with the Hon’ble Supreme Court