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

In the result, all the above 6 appeals filed by the Revenue are dismissed and

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

Section 10(38) and treating such long term capital gain as bogus. 25. Referring to the decision of Hon'ble AP High Court in the case of M/s. Manidhari Stainless Wire (P.) Ltd. vs. Union of India vide W.P. No.5917 of 2017, order dated 31.10.2017, copy of which is placed in the paper book, he submitted that

SANGEETA BASAVRAJ MANGRULE,,AURANGABAD vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 2,, AURANGABAD

Appeal is dismissed in above terms

section 10(38) exemption of long capital gain to the assessee amounting to Rs.23,72,323/-. The CIT(A)’s detailed discussion confirming the impugned addition on account of bogus long term capital gains as under: “5. I have duly considered the submissions of the appellant. The brief facts of the case are that the appellant is engaged

DEPUTY COMMISSIONER OF INCOME-TAX CIRCLE -5, PUNE vs. SERUM INSTITUTE OF INDIA PVT LTD.,, PUNE

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

capital expenditure and cannot be allowed as deduction. 29. On the other hand, ld. Sr. Counsel submits that the expenditure which does not qualify for weighted deduction can be allowed as revenue expenditure either under the provisions of section 35(1)(iv) or u/s 37(1) of the Act. He submits that this issue was covered by the decision

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

In the result, all the above 6 appeals filed by the Revenue are dismissed and

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

Section 10(38) and treating such long term capital gain as bogus. 25. Referring to the decision of Hon'ble AP High Court in the case of M/s. Manidhari Stainless Wire (P.) Ltd. vs. Union of India vide W.P. No.5917 of 2017, order dated 31.10.2017, copy of which is placed in the paper book, he submitted that

ASSISTANT COMMISSIONER OF INCOME-TAX vs. SINHAGAD TECHNICAL EDUCATION SOCIETY,, PUNE

Accordingly, additional ground No.3 by the assessee is allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपील सं. / Ita Nos. 2075 To 2077 & 2110/Pun/2014 "नधा"रण वष" / Assessment Years: 2007-08 To 2009-10 Sinhgad Technical Education Society, S. No. 44/1, Vadgaon ( Budruk), Off. Sinhagad Road, Pune-411 041. Pan : Aabts9900Q. …....अपीलाथ" / Appellant बनाम / V/S.

131, the ground of appeal No.3 raised by assessee is, thus, partly allowed for statistical purpose. 15.1 Now, coming to the linked ground of appeal No. 4 raised by Revenue which is against the order of CIT(A) in holding that the investment in share in Co-operative Society are covered under section 13(1

SINHGAD TECHNICAL EDUCATION SOCIETY,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

Accordingly, additional ground No.3 by the assessee is allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपील सं. / Ita Nos. 2075 To 2077 & 2110/Pun/2014 "नधा"रण वष" / Assessment Years: 2007-08 To 2009-10 Sinhgad Technical Education Society, S. No. 44/1, Vadgaon ( Budruk), Off. Sinhagad Road, Pune-411 041. Pan : Aabts9900Q. …....अपीलाथ" / Appellant बनाम / V/S.

131, the ground of appeal No.3 raised by assessee is, thus, partly allowed for statistical purpose. 15.1 Now, coming to the linked ground of appeal No. 4 raised by Revenue which is against the order of CIT(A) in holding that the investment in share in Co-operative Society are covered under section 13(1

SINHGAD TECHNICAL EDUCATION SOCIETY,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

Accordingly, additional ground No.3 by the assessee is allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपील सं. / Ita Nos. 2075 To 2077 & 2110/Pun/2014 "नधा"रण वष" / Assessment Years: 2007-08 To 2009-10 Sinhgad Technical Education Society, S. No. 44/1, Vadgaon ( Budruk), Off. Sinhagad Road, Pune-411 041. Pan : Aabts9900Q. …....अपीलाथ" / Appellant बनाम / V/S.

131, the ground of appeal No.3 raised by assessee is, thus, partly allowed for statistical purpose. 15.1 Now, coming to the linked ground of appeal No. 4 raised by Revenue which is against the order of CIT(A) in holding that the investment in share in Co-operative Society are covered under section 13(1

SINHGAD TECHNICAL EDUCATION SOCIETY,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

Accordingly, additional ground No.3 by the assessee is allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपील सं. / Ita Nos. 2075 To 2077 & 2110/Pun/2014 "नधा"रण वष" / Assessment Years: 2007-08 To 2009-10 Sinhgad Technical Education Society, S. No. 44/1, Vadgaon ( Budruk), Off. Sinhagad Road, Pune-411 041. Pan : Aabts9900Q. …....अपीलाथ" / Appellant बनाम / V/S.

131, the ground of appeal No.3 raised by assessee is, thus, partly allowed for statistical purpose. 15.1 Now, coming to the linked ground of appeal No. 4 raised by Revenue which is against the order of CIT(A) in holding that the investment in share in Co-operative Society are covered under section 13(1

ASSISTANT COMMISSIONER OF INCOME-TAX vs. SINHAGAD TECHNICAL EDUCATION SOCIETY,, PUNE

Accordingly, additional ground No.3 by the assessee is allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपील सं. / Ita Nos. 2075 To 2077 & 2110/Pun/2014 "नधा"रण वष" / Assessment Years: 2007-08 To 2009-10 Sinhgad Technical Education Society, S. No. 44/1, Vadgaon ( Budruk), Off. Sinhagad Road, Pune-411 041. Pan : Aabts9900Q. …....अपीलाथ" / Appellant बनाम / V/S.

131, the ground of appeal No.3 raised by assessee is, thus, partly allowed for statistical purpose. 15.1 Now, coming to the linked ground of appeal No. 4 raised by Revenue which is against the order of CIT(A) in holding that the investment in share in Co-operative Society are covered under section 13(1

SINHGAD TECHNICAL EDUCATION SOCIETY,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

Accordingly, additional ground No.3 by the assessee is allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपील सं. / Ita Nos. 2075 To 2077 & 2110/Pun/2014 "नधा"रण वष" / Assessment Years: 2007-08 To 2009-10 Sinhgad Technical Education Society, S. No. 44/1, Vadgaon ( Budruk), Off. Sinhagad Road, Pune-411 041. Pan : Aabts9900Q. …....अपीलाथ" / Appellant बनाम / V/S.

131, the ground of appeal No.3 raised by assessee is, thus, partly allowed for statistical purpose. 15.1 Now, coming to the linked ground of appeal No. 4 raised by Revenue which is against the order of CIT(A) in holding that the investment in share in Co-operative Society are covered under section 13(1

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

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

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. 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

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

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