ASSISTANT COMMISSIONER OF INCOME TAX, JALGAON vs. SIDHARTH RATANLAL BAFNA, JALGAON

Section 10(38)\nand treating such long term capital gain as bogus.\n\n25. Referring to the decision of Hon'ble AP High Court in the case of M/s.\nManidhari Stainless Wire (P.) Ltd. vs. Union of India vide W.P. No.5917 of 2017,\norder dated 31.10.2017, copy of which is placed in the paper book, he submitted\nthat

ASSISTANT COMMISSIONER OF INCOME TAX, JALGAON vs. SIDHARTH RATANLAL BAFNA, JALGAON

Section 10(38)\nand treating such long term capital gain as bogus.\n\n25. Referring to the decision of Hon'ble AP High Court in the case of M/s.\nManidhari Stainless Wire (P.) Ltd. vs. Union of India vide W.P. No.5917 of 2017,\norder dated 31.10.2017, copy of which is placed in the paper book, he submitted\nthat

POONAWALLA SHARES & SECURITIES PVT.LTD,PUNE vs. ASSISTANT COMMISSIONER OF WEALTH-TAX, CIRCLE-4, PUNE

Appeal is partly allowed in above terms

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपीलसं. / Ita No.380/Pun/2020 िनधा"रण वष" / Assessment Year : 2016-17 Poonawalla Shares & Securities The Assistant Pvt. Ltd., Vs Commissioner Of Income 16-B,/1, Sarosh Bhavan, Tax, Dr.Ambedkar Road, Circle-4, Pune. Pune – 411001 Pan: Aaacp 6087 H Appellant/ Assessee Respondent /Revenue Assessee By Shri Percy Pardiwala – Ar Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 08/07/2022 Date Of Pronouncement 29/07/2022 आदेश/ Order Per S.S.Godara, Jm: This Assessee’S Appeal For Assessment Year 2016-17 Is Directed Against The Commissioner Of Income Tax(Appeals)-3, Pune’S Order Dated 11.12.2019 Passed In Case No.Pn/Cit(A)-3/Cir 4/193/2018-19/428, In Proceedings U/S.143(3) Of The Income Tax Act, 1961 [In Short “The Act”].

1% carries retrospective effect. The fact also remains that both the lower authorities have proceeded to include the assessee’s entire investments than only ITA No.380/PUN/2020 for A.Y. 2016-17 Poonawalla Shares & Securities Pvt. Ltd., Vs. ACIT, Circle-4, Pune (A) those yielding exempt income in the relevant previous year. Faced with the situation, we quote ACIT vs. Vineet Investment

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

section 36(1)(iii) of\nthe Act. It was further informed that the said amount of interest paid was in\nrespect of capital borrowed for the purpose of business or profession. It\nwas further submitted that the construction and development having\ncommenced, the business is in operation, therefore, interest is allowable\nu/s.36(1)(iii) of the Act. It was also

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

Section 10(38)\nand treating such long term capital gain as bogus.\n\n25. Referring to the decision of Hon'ble AP High Court in the case of M/s.\nManidhari Stainless Wire (P.) Ltd. vs. Union of India vide W.P. No.5917 of 2017,\norder dated 31.10.2017, copy of which is placed in the paper book, he submitted\nthat

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

capital gain as taxable\nand the learned Commissioner of Income Tax (Appeals)-1, Nashik has\nerred in confirming the same.\n3.\nThe learned Income Tax Officer, Ward 1(5), Nashik, has erred in making\naddition of Rs.1,00,97,902/- under section 68 of the Act and the learned\nCommissioner of Income Tax (Appeals)-1, Nashik, has erred in confirming

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

1)(iii)(e) and Section 55(2)(a)(ii) of the Act, it is pertinent to\nnote that these provisions form part of the Chapter dealing with\n\"Capital 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

RAMCHANDRAUDAYSINGHJADHAVRAO,PUNE vs. ACIT, CIRCLE-3, PUNE

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

gain income declared by the assessee during the course of survey\nis concerned, we find the Assessing Officer levied the penalty on the ground that\nduring the course of survey it was noticed that the assessee has converted the land\nin question which was a capital asset into stock in trade in financial year 2010-11\nand never disclosed

SHRI GANESH RAMCHANDRA MORE,PANVEL vs. ITO, WARD-9(3), PUNE, PUNE

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

capital gain on sale of land is enhanced to Rs. 30,00,000/- as sale consideration of the immovable property accepted by the appellant. 5.2 The acceptance of money on sale of immovable property is violation of provision of section 269SS of the Act and attract penalty as per provision of section 271D of the Act. During the appellate proceeding

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

131 of the Act wherein specific questions were asked to him to which he had replied, the details of which are as under: “Q. 19. On verification of the Balance Sheets of Atul O Mantri it is seen that Long Term Capital Gains on Sale of Share is credited to Capital Account, the Details are as under

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

131 of the Act wherein specific questions were asked to him to which he had replied, the details of which are as under: “Q. 19. On verification of the Balance Sheets of Atul O Mantri it is seen that Long Term Capital Gains on Sale of Share is credited to Capital Account, the Details are as under

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

131 of the Act wherein specific questions were asked to him to which he had replied, the details of which are as under: “Q. 19. On verification of the Balance Sheets of Atul O Mantri it is seen that Long Term Capital Gains on Sale of Share is credited to Capital Account, the Details are as under

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

131 of the Act wherein specific questions were asked to him to which he had replied, the details of which are as under: “Q. 19. On verification of the Balance Sheets of Atul O Mantri it is seen that Long Term Capital Gains on Sale of Share is credited to Capital Account, the Details are as under

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

131 of the Act wherein specific questions were asked to him to which he had replied, the details of which are as under: “Q. 19. On verification of the Balance Sheets of Atul O Mantri it is seen that Long Term Capital Gains on Sale of Share is credited to Capital Account, the Details are as under

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

131 of the Act wherein specific questions were asked to him to which he had replied, the details of which are as under: “Q. 19. On verification of the Balance Sheets of Atul O Mantri it is seen that Long Term Capital Gains on Sale of Share is credited to Capital Account, the Details are as under

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

131 of the Act wherein specific questions were asked to him to which he had replied, the details of which are as under: “Q. 19. On verification of the Balance Sheets of Atul O Mantri it is seen that Long Term Capital Gains on Sale of Share is credited to Capital Account, the Details are as under

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)

capital gain as taxable and the learned Commissioner of Income Tax (Appeals)-1, Nashik has erred in confirming the same. 3. The learned Income Tax Officer, Ward 1(5), Nashik, has erred in making addition of Rs.1,00,97,902/- under section 68 of the Act and the learned Commissioner of Income Tax (Appeals)-1, Nashik, has erred in confirming

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

131 of\nthe Act wherein specific questions were asked to him to which he had replied, the\ndetails of which are as under:\n“Q. 19. On verification of the Balance Sheets of Atul O Mantri it is seen that\nLong Term Capital Gains on Sale of Share is credited to Capital\nAccount, the Details are as under\nA.Y