DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 7 PUNE, PUNE vs. KOLTE PATIL INTEGRATED TOWNSHIPS LIMITED, PUNE

In the result, both the appeals filed by the Revenue are dismissed

capitalization of the part of the\ninterest expenditure in WIP. He also relied on the following decisions:\ni)\nBajaj Finance Ltd. vs. PCIT (2023) 152 taxmann.com 216\nii)\nDCIT vs. Sanathnagar Enterprise Ltd. (2022) 139 taxmann.com 557\n(Mumbai – Trib.)\niii)\n`DCIT vs. Lodha Developers Ltd. (2022) 143 taxmann.com 442 (Mumbai –\nTrib.)\n35. We have heard the rival arguments

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

gains on sale of residential property. The AO is directed to allow deduction of Rs.2,26,33,135/- claimed u/s. 54 of the Act. The ground no. 4 raised by the appellant regarding this issue is allowed.” 9. Aggrieved with such order of CIT(A) / NFAC, the Revenue is in appeal before the Tribunal by raising the following grounds: 1

AGRA OBSTETRICAL AND GYNAECOLOGICAL SOCIETY,AGRA vs. PCIT, CENTRAL, PUNE

capitation fees are merely based on the statement of\nemployees which have been subsequently retracted and the Pendrive\nand loose document found at the residential premises of employee has\nalso been retracted at the subsequent stage and that the Managing\nTrustee of the assessee trust has denied to be indulged into any of such\nalleged transaction in the statement given

SUN INFRASTRUCTURES PRIVATE LIMITED,NASHIK vs. INCOME TAX OFFICER, WARD-2(1), NASHIK, NASHIK

In the result, the appeal of the assessee is dismissed

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

1) 32[or sub-section (3)] of section 7433[or sub- section (3) of section 74A]. Section 139 (3) - If any person who 13[***] has sustained a loss in any previous year under the head "Profits and gains of business or profession" or under the head "Capital

SINHAGAD TECHNICAL EDUCATION SOCIETY,PUNE vs. PCIT(CENTRAL), PUNE, PUNE

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoresinhagad Technical Education Society Pcit (Central), Pune Smt. Khilare Marg, Off Karve Road, Vs. Pune – 411004 Pan: Aabts9900Q (Appellant) (Respondent) Assessee By : Shri Suhas Bora & Miss Sampada Ingale Department By : Shri Ajay Kumar Keshari - Cit Date Of Hearing : 25-03-2025 Date Of Pronouncement : 29-05-2025 O R D E R

gains of business which is not incidental to the attainment of its objectives or separate books of account are not maintained by such trust or institution in respect of the business which is incidental to the attainment of its objectives; or c) The trust or institution has applied any part of its income from the property held under a trust

REXEL INDIA PRIVATE LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, PUNE

In the result, appeal of the assessee is partly allowed for statistical\npurposes

Gains\" and Section 47 of the Act specifically excludes transfer\nof capital assets, pursuant to a scheme of amalgamation, from the\npurview of Section 45 of the Act. Therefore, we are of the view that\nthese provisions have no relevance to the facts of the present case.\n26. The Revenue, vide its written submissions, has relied upon certain\njudicial pronouncements

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

13. Clause(ii)(a) of section 28 deals with compensation received by a person, managing the affairs of an Indian company, for termination of management or the modification of the terms and conditions of managing the whole or substantially the whole of the and CO No.11/PUN/2022 affairs of an Indian company. In order to be covered under this provision, firstly

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

13. Clause(ii)(a) of section 28 deals with compensation received by a person, managing the affairs of an Indian company, for termination of management or the modification of the terms and conditions of managing the whole or substantially the whole of the and CO No.11/PUN/2022 affairs of an Indian company. In order to be covered under this provision, firstly

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

section 45(2) is inconsequential. 18. The Ld. Counsel for the assessee also filed a copy of the occupancy certificate dated 23.12.2014 and the following chart disclosing the calculation of correct capital gain on sale of flats: 11 Particulars FY 16-17 AY 17-18 (a) Sale Consideration 3,67,25,561 (b) Total FMV as on date

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

13,881/- and the learned Commissioner of\nIncome Tax(Appeals)-1, Nashik has erred in confirming the same.\n2.\nThe learned Income Tax Officer, Ward 1(5), Nashik, has erred in not\nconsidering the fact that the assessee has complied with the provisions of\nsub section (38) of section 10 and treating long term capital gain

AIDS SOCIETY OF INDIA,MUMBAI vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL), PUNE

capitation fees are merely based on the statement of employees which have been subsequently retracted and the Pendrive and loose document found at the residential premises of employee has also been retracted at the subsequent stage and that the Managing Trustee of the assessee trust has denied to be indulged into any of such alleged transaction in the statement given

ADVIK HI TECH PVT LTD,PUNE vs. DY.COMM.OF INCOME TAX, CIRCLE 8, PUNE, AKURDI PUNE

In the result, the cross appeal filed by the Revenue in ITA

Bench: Shri R. K. Panda & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.1158/Pun/2023 िनधा"रण वष" / Assessment Year : 2020-21 Advik Hi Tech Pvt. Ltd., Vs. Dcit, Circle-8, Pune. Gat No.357, Plot No.99, Village- Kharabwadi, Tal.- Khed, Chakan- 410501. Pan : Aacca3106E Appellant Respondent आयकर अपील सं. / Ita No.1330/Pun/2023 िनधा"रण वष" / Assessment Year : 2020-21 Dcit, Circle-8, Pune. Vs. Advik Hi Tech Pvt. Ltd., Gat No.357, Plot No.99, Village- Kharabwadi, Tal.- Khed, Chakan- 410501. Pan : Aacca3106E Appellant Respondent Assessee By : Shri Sharad A. Shah & Shri Rohit S. Tapadiya Revenue By : Shri Amol Khairnar Date Of Hearing : 21.11.2024 Date Of Pronouncement : 18.02.2025 आदेश / Order Per Vinay Bhamore, Jm: These Cross Appeals Filed By The Assessee As Well As By The Revenue Are Directed Against The Order Dated 16.10.2023 Passed By Ld.Cit(A)/Nfac For The Assessment Year 2020-21 Respectively.

capital gain. It is this order against which the assessee is in appeal before this Tribunal. 3.1 However, Ld. CIT(A)/NFAC also directed the Assessing Officer to allow the deduction claimed by the assessee u/s.80IA of Rs.2,77,33,581/- and u/s.80IC of Rs.7,17,05,933/-, against which the Revenue is in cross appeal before this Tribunal

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

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

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

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

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

13(1) and 115BBI, wherein,\nwithdrawal of exemption only for violative part is provided for. This\nchanging principle of the I-T law has been glossed over by learned\nPCIT-CC.\nJayate\n9. Further, ld. Counsel for the assessee referred to legal\ncompilation of case laws running into 206 pages and also relied\non the following decisions :\n1. Shri Jairam

MR GANESH RAMBHAV PAKHE,AURANGABAD vs. INCOME TAX OFFICER, WARD-2(3), AURANGABAD, AURANGABAD

In the result, the appeal is allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita No.1097/Pun/2023 "नधा"रण वष" / Assessment Year : 2015-16

Capital gains’, which was claimed in the revised return filed u/s.139(5) on 11-02-2016 with the Acknowledgement No. 950640970110216. The Ackn. no. is also that of the revised return. 8 Ganesh Rambhau Pakhe 11. It thus become palpable that the revised return was considered for selection of the case under CASS and the notice u/s.143(2) was also

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)

13,881/- and the learned Commissioner of Income Tax(Appeals)-1, Nashik has erred in confirming the same. 2. The learned Income Tax Officer, Ward 1(5), Nashik, has erred in not considering the fact that the assessee has complied with the provisions of sub section (38) of section 10 and treating long term capital gain