ASSISTANT COMMISSIONER OF INCOME-TAX,CENTRAL CIRCLE - 2(2),, PUNE vs. M/S SINHGAD TECHNICAL EDUCATION SOCIETY (TRUST), PUNE

In the result, the appeal of the Revenue in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl. It(Ss)A No./ Name Of Appellant Name Of Respondent Asst. No.

120-B of IPC and further, it was dealing with "books of accounts". Whereas, in the case on hand, it is an income tax proceeding before a quasijudicial authority. A Division Bench of the Madras High Court, in the case of Rangroopchand Chordia (supra), relied upon by the learned Standing Counsel for the respondent, while dealing with section

RAMESH G PORWAL,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

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

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am

4. 1st ground is with respect to treating the income as business income as against it treatment by assessee as short term capital gains. 4.1. During the course of assessment proceedings, AO noticed that assessee had disclosed short term capital gains of Rs.38,23,839/- which were split into 2 categories namely, short term capital loss (--Rs.10918/-), the transactions

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]

B” :: PUNE BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND DR. DIPAK P. RIPOTE, ACCOUNTANT MEMBER आयकर 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

TEJASHREE ATUL PATIL,PUNE vs. PR.CIT - 2, PUNE

In the result, appeal of the assessee is dismissed

Bench: Dr.Manish Borad & Shri Vinay Bhamore

120; (b) record shall include and shall be deemed always to have included all records relating to any proceeding under this Act available at the time of examination by the Commissioner; (c) where any order referred to in this sub-section and passed by the Assessing Officer had been the subject matter of any appeal filed on or before

INCOME-TAX OFFICER, WARD - 2,, PANVEL vs. PRAMOD ARJUN THAKUR,, RAIGAD

Appeal is allowed in above terms

Bench: Shri S.S.Godara, Jm & Shri Dr. Dipak P. Ripote, Am आयकर अपीऱ सं. / Ita No.860/Pun/2019 ननधधारण वषा / Assessment Year : 2015-16

capital gains and other sources. The return of income for the year under appeal was filed by the appellant on 31.03.2017, declaring therein total income of Rs.7,78,000/-. Addition of Rs.6,54,61,100/- was made by the Id AO by relying upon the provisions of section 56(2)(vii)(b

R&DE (ENGRS) EMPLOYEES CO-OP. CREDIT SOCIETY,PUNE vs. ITO, WARD 7(3), PUNE, PUNE

In the result, the appeal of the assessee is allowed

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

capital, if not immediately required to be lent to the members, they cannot keep the said amount idle. If they deposit this amount in bank so as to earn interest, the said interest income is attributable to the profits and gains of the business of providing credit facilities to its members only. The society is not carrying on any separate

RAJENDRA B. RAISONI,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

In the result, the appeal of assessee is partly allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपील सं. / Ita No.737/Pun/2015 "नधा"रण वष" / Assessment Year : 2007-08 Rajendra B. Raisoni, 401/402, Poonam Plaza, ………. अपीलाथ" / Market Yard Road, Market Yard, Appellant Pune – 411 037. Pan : Aaspr4761K. बनाम V/S

B. Raisoni, 401/402, Poonam Plaza, ………. अपीलाथ" / Market Yard Road, Market Yard, Appellant Pune – 411 037. PAN : AASPR4761K. बनाम v/s The Asst. Commissioner of Income Tax, ………. ""यथ" / Central Circle – 12, Nashik. Respondent Assessee by : Shri Vipin Gujarathi. Revenue by : Shri Sudhendu Das. सुनवाई क" तार"ख / घोषणा क" तार"ख / Date of Hearing : 23.01.2019 Date of Pronouncement: 18.04.2019 आदेश / ORDER

NATHA PANDIT RAUT,PUNE vs. DCIT, CIRCLE 2, PUNE

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2018-19 Natha Pandit Raut Dcit, Circle 2, Pune Office No.101, Global Port Pashankar Auto Complex, Off Mumbai Vs. Bangalore Highway, Baner, Pune - 411045 Pan: Aatpr6854L (Appellant) (Respondent)

capital gain from such transaction at Rs.59,14,000/- after claiming the indexed cost of acquisition of Rs.3,50,96,000/-. According to the Assessing Officer, the transactions in immovable properties were held to be business transactions in the past. He accordingly concluded that the assessee was engaged in business of sale and purchase of the properties and therefore, such

ARCHANA RAJENDRA MALU,,KOLHAPUR vs. INCOME-TAX OFFICER, WARD - 4,, ICHALKARANJI

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita No.1867/Pun/2018 िनधा"रण वष" / Assessment Year : 2015-16 Archana Rajendra Malu, Vs. Ito, Ward-4, 237, Manish Trading Ichalkaranji. Company, Azad Road, Jaysingpur, Dist.- Kolhapur- 416101. Pan : Abepm4622K Appellant Respondent आयकर अपील सं. / Ita No.1868/Pun/2018 िनधा"रण वष" / Assessment Year : 2015-16 Rajendra Babulal Malu, Vs. Ito, Ward-2, Huf, Ichalkaranji. 237, Manish Trading Company, Azad Road, Jaysingpur, Dist.- Kolhapur- 416101. Pan : Aachr7709H Appellant Respondent Assessee By : Shri Hari Krishan Revenue By : Shri M. G. Jasnani Date Of Hearing : 29.08.2023 Date Of Pronouncement : 04.09.2023 आदेश / Order Per Inturi Rama Rao, Am: These Are The Appeals Filed By The Two Different Assessees Directed Against The Separate Orders Of Ld. Commissioner Of Income Tax (Appeals)-2, Kolhapur [‘The Cit(A)’] Dated 03.10.2018 For The Assessment Year 2015-16 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In Both The Above Captioned Appeals Of Two Different Assessees, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal In Ita No.1867/Pun/2018 For The Assessment Year 2015-16 Are Stated Herein.

B”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S. S. VISWANETHRA RAVI, JUDICIAL MEMBER आयकर अपील सं. / ITA No.1867/PUN/2018 िनधा"रण वष" / Assessment Year : 2015-16 Archana Rajendra Malu, Vs. ITO, Ward-4, 237, Manish Trading Ichalkaranji. Company, Azad Road, Jaysingpur, Dist.- Kolhapur- 416101. PAN : ABEPM4622K Appellant Respondent आयकर अपील सं. / ITA No.1868/PUN/2018 िनधा"रण वष" / Assessment

RAJENDRA BABULAL MALU,HUF,KOLHAPUR vs. INCOME-TAX OFFICER, WARD - 2,, ICHALKARANJI

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita No.1867/Pun/2018 िनधा"रण वष" / Assessment Year : 2015-16 Archana Rajendra Malu, Vs. Ito, Ward-4, 237, Manish Trading Ichalkaranji. Company, Azad Road, Jaysingpur, Dist.- Kolhapur- 416101. Pan : Abepm4622K Appellant Respondent आयकर अपील सं. / Ita No.1868/Pun/2018 िनधा"रण वष" / Assessment Year : 2015-16 Rajendra Babulal Malu, Vs. Ito, Ward-2, Huf, Ichalkaranji. 237, Manish Trading Company, Azad Road, Jaysingpur, Dist.- Kolhapur- 416101. Pan : Aachr7709H Appellant Respondent Assessee By : Shri Hari Krishan Revenue By : Shri M. G. Jasnani Date Of Hearing : 29.08.2023 Date Of Pronouncement : 04.09.2023 आदेश / Order Per Inturi Rama Rao, Am: These Are The Appeals Filed By The Two Different Assessees Directed Against The Separate Orders Of Ld. Commissioner Of Income Tax (Appeals)-2, Kolhapur [‘The Cit(A)’] Dated 03.10.2018 For The Assessment Year 2015-16 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In Both The Above Captioned Appeals Of Two Different Assessees, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal In Ita No.1867/Pun/2018 For The Assessment Year 2015-16 Are Stated Herein.

B”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S. S. VISWANETHRA RAVI, JUDICIAL MEMBER आयकर अपील सं. / ITA No.1867/PUN/2018 िनधा"रण वष" / Assessment Year : 2015-16 Archana Rajendra Malu, Vs. ITO, Ward-4, 237, Manish Trading Ichalkaranji. Company, Azad Road, Jaysingpur, Dist.- Kolhapur- 416101. PAN : ABEPM4622K Appellant Respondent आयकर अपील सं. / ITA No.1868/PUN/2018 िनधा"रण वष" / Assessment

DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 5,, PUNE vs. SHRI SUBHASH HASTIMAL LODHA,, PUNE

In the result, the appeal filed by the Revenue stands allowed

120/- in capital gain deposits scheme. During the course of assessment proceedings, the Assessing Officer conducted enquiries and visited the land. Based on the enquiry conducted, physical inspection, he concluded that the land sold was not an agricultural land since the land in question is surrounded by the township developed by M/s. D. S. Kulkarni Developers Ltd. and the land

RANAJIT SURESH RAJAMANE,SOLAPUR vs. ITO, WARD 1, PANDHARPUR, PANDHARPUR

In the result, the appeal of the assessee is allowed

Bench: Dr. Manish Borad & Ms. Astha Chandraआयकर अपील सं. / Ita No.1678/Pun/2024 धििाारण वर्ा / Assessment Year: 2014-15 Ranajit Suresh Rajamane, Vs Ito Ward 1, Shukrawar Peth, Pandharpur Tembhurni Madha Solapur- 413211 Maharashtra Pan-Bmepr3878N Appellant Respondent

120 ITR 46/2 Tasman 541 (SC) 3. CIT. K. Jelani Basha [2002] 256 ITR 282/122 Taxman 509 (Mad) 4. CIT v. Ram Gopal (2015) 372 ITR 498/230 Taxman 205/55 taxmann.com 536 (Delhi) 5. Balraj V C77 [2002] 254 ITR 22/123 Tasman 290 (Delhi) 6. CIT. R.1. Sood (2000) 245 ITR 727/108 Tasman 227 (Delhi) 7. CIT v. Dr. Laxmichand Narpal

INCOME TAX OFFICE, WARD-1, ICHALKARANJIKARANJI, KOLHAPUR vs. SPLICE BIOTECH PVT LTD, KOLHAPUR

In the result, the appeal filed by the Revenue stands allowed

B”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER आयकर अपील सं. / ITA No.775/PUN/2023 िनधा"रण वष" / Assessment Year: 2013-14 ITO, Ward-1, Kolhapur. Vs. Splice Biotech Pvt. Ltd., 212, Azad Roads, Jaysingpur, Tal: Shirol, Dist. Kolhapur- 416115. PAN : AAHCS4671F Appellant Respondent Revenue by Shri M. G. Jasnani : Assessee by : Shri Hari

TULSABAI VASANT DESHMUKH,PUNE vs. INCOME TAX OFFICER, WARD 6(2), PUNE

In the result, all the appeals (ITA Nos

Bench: Dr. Manish Borad & Shri Vinay Bhamore

gain was calculated on that date on account of conversion of capital asset into stock-in-trade. There is no dispute at the end of the Ld.AO that assessee’s share of LTCG is ₹ 1,64,17,638/- which has been worked out on the basis of the figures of sale consideration available on the date of entering into

ROHINI MARUTI DESHMUKH,PUNE vs. INCOME TAX OFFICER, WARD 6(2), PUNE

In the result, all the appeals (ITA Nos

Bench: Dr. Manish Borad & Shri Vinay Bhamore

gain was calculated on that date on account of conversion of capital asset into stock-in-trade. There is no dispute at the end of the Ld.AO that assessee’s share of LTCG is ₹ 1,64,17,638/- which has been worked out on the basis of the figures of sale consideration available on the date of entering into

AMOL VASANT DESHMUKH,PUNE vs. INCOME TAX OFFICER, WARD 6(2), PUNE

In the result, all the appeals (ITA Nos

Bench: Dr. Manish Borad & Shri Vinay Bhamore

gain was calculated on that date on account of conversion of capital asset into stock-in-trade. There is no dispute at the end of the Ld.AO that assessee’s share of LTCG is ₹ 1,64,17,638/- which has been worked out on the basis of the figures of sale consideration available on the date of entering into

PIMPRI CHINCHWAD NEW TOWN DEVELOPMENT AUTHORITY,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

In the result, all the appeals of assessee are allowed and cross objections and appeals of Revenue are dismissed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.929 To 932/Pun/2014 यििाारण वषा / Assessment Years : 2003-04 To 2005-06 & 2008-09

gains until the expenditure which is necessary for the purpose of earning the receipts is deducted therefrom—whether the expenditure is actually incurred or the liability in respect thereof has accrued even though it may have to be discharged at some future date. 32. We may also refer to the ratio laid down by the Hon’ble Bombay High Court

INCOME-TAX OFFICER vs. PIMPRI CHINCHWAD NEW TOWN DEVELOPMENT AUTHORITY,, PUNE

In the result, all the appeals of assessee are allowed and cross objections and appeals of Revenue are dismissed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.929 To 932/Pun/2014 यििाारण वषा / Assessment Years : 2003-04 To 2005-06 & 2008-09

gains until the expenditure which is necessary for the purpose of earning the receipts is deducted therefrom—whether the expenditure is actually incurred or the liability in respect thereof has accrued even though it may have to be discharged at some future date. 32. We may also refer to the ratio laid down by the Hon’ble Bombay High Court