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)

145/- in the hands of his wife on account of bogus Long Term Capital Gains for assessment year 2014-15. However, vide letter dated 04.09.2015 the assessee retracted from his earlier statement. It was contended that the long term capital gains are genuine and correct and legitimate deduction has been claimed u/s 10(38) on the purchase/sale of shares

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

145/- in the hands of his wife on account of bogus Long Term Capital\nGains for assessment year 2014-15. However, vide letter dated 04.09.2015 the\nassessee retracted from his earlier statement. It was contended that the long term\ncapital gains are genuine and correct and legitimate deduction has been claimed u/s\n10(38) on the purchase/sale of shares

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.

145. 17 ITA No.1158/PUN/2023 [A] ITA No.1330/PUN/2023 [R] (2) For the purposes of sub-section (1), gain or loss arising on account of the effects of change in foreign exchange rates shall be in respect of all foreign currency transactions, including those relating to- (i) monetary items and non-monetary items (ii) transaction of financial statements of foreign operations

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-8, PUNE, PUNE vs. ADVIK HI-TECH PVT. LTD., PUNE

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

145.\n\n(2) For the purposes of sub-section (1), gain or loss arising\non account of the effects of change in foreign exchange rates\nshall be in respect of all foreign currency transactions,\nincluding those relating to-\n\n(i) monetary items and non-monetary items\n(ii) transaction of financial statements of foreign\noperations;\n(iii) forward

RAJKAMAL STONE METAL WORKS,AMBEGAON KHURD, DIST. PUNE vs. ACIT CIRCLE 5 PUNE, PUNE

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

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2017-18

145 taxmann.com 151 (SC), wherein it held, "7.2 The object and purpose of introduction of section 45(4) was to pluck the loophole by insertion of section 45(4) and omission of section 2(47)(ii) While introduction to section 45(4), clause (ii) of section 2(47) came to be omitted. Earlier, omission of clause (ii) of section

NEW BALANCE IT SERVICES INDIA PVT. LTD.,PUNE vs. INCOME TAX OFFICER(1)- CIRCLE 2, PUNE, PUNE

Bench: Hon’Ble Shri S. S. Godara & Shri G. D. Padmahshaliआयकर अपऩल सं. / Ita No. 0245 & 0246/Pun/2024 निर्धारण वषा / Assessment Year : 2020-21 & 2022-23 New Balance It Services India Pvt. Ltd. Level-1, Wing-A, Tower-06, Cybercity, Magarpatta, Pune-411013. Pan : Aaccn5091R . . . . . . . अपीलार्थी / Appellant बिधम / V/S. Income Tax Officer-1, Circle-2, Pune . . . . . . . प्रत्यर्थी / Respondent द्वधरध / Appearances Assessee By : Mr Rajendra Agiwal [‘Ld. Ar’] Revenue By : Mr Ramnath Murkunde [‘Ld. Dr’] सुनवाई की तारीख / Date Of Conclusive Hearing : 28/05/2024 घोषणा की तारीख / Date Of Pronouncement : 05/06/2024 आदेश / Order Per G. D. Padmahshali, Am; This Twin Appeals Are Instituted U/S 253(1)(Aa) Of The Income Tax Act [‘The Act’] By The Assessee Challenging The Respective First Appellate Orders Dt. 19/12/2023 Passed U/S 250 Of The Act By The Commissioner Of Income Tax Appels [‘Cit(A)’] For The Assessment Years 2020-21 & 2022-23 [‘Ay’] Which In Turn Arisen Out Of Separate Orders Of Intimation Passed U/S 143(1) Of The Act.

Gains of Business or Profession’ [‘PGBP’] or ‘Income from other Sources’ [‘IOS’] namely; (a) ‘Cash system’, where all transactions are recorded as & when they are paid & received irrespective of year in which they are incurred and unlike (b) ‘accrual or mercantile system’, where all transactions are recorded as & when they are incurred as against the former. Whereas

NEW BALANCE IT SERVICES INDIA PVT. LTD.,PUNE vs. INCOME TAX OFFICER(1)- CIRCLE 2, PUNEPUNE, PUNE

Bench: Hon’Ble Shri S. S. Godara & Shri G. D. Padmahshaliआयकर अपऩल सं. / Ita No. 0245 & 0246/Pun/2024 निर्धारण वषा / Assessment Year : 2020-21 & 2022-23 New Balance It Services India Pvt. Ltd. Level-1, Wing-A, Tower-06, Cybercity, Magarpatta, Pune-411013. Pan : Aaccn5091R . . . . . . . अपीलार्थी / Appellant बिधम / V/S. Income Tax Officer-1, Circle-2, Pune . . . . . . . प्रत्यर्थी / Respondent द्वधरध / Appearances Assessee By : Mr Rajendra Agiwal [‘Ld. Ar’] Revenue By : Mr Ramnath Murkunde [‘Ld. Dr’] सुनवाई की तारीख / Date Of Conclusive Hearing : 28/05/2024 घोषणा की तारीख / Date Of Pronouncement : 05/06/2024 आदेश / Order Per G. D. Padmahshali, Am; This Twin Appeals Are Instituted U/S 253(1)(Aa) Of The Income Tax Act [‘The Act’] By The Assessee Challenging The Respective First Appellate Orders Dt. 19/12/2023 Passed U/S 250 Of The Act By The Commissioner Of Income Tax Appels [‘Cit(A)’] For The Assessment Years 2020-21 & 2022-23 [‘Ay’] Which In Turn Arisen Out Of Separate Orders Of Intimation Passed U/S 143(1) Of The Act.

Gains of Business or Profession’ [‘PGBP’] or ‘Income from other Sources’ [‘IOS’] namely; (a) ‘Cash system’, where all transactions are recorded as & when they are paid & received irrespective of year in which they are incurred and unlike (b) ‘accrual or mercantile system’, where all transactions are recorded as & when they are incurred as against the former. Whereas

BAJAJ HOUSING FINANCE LIMITED,PUNE vs. ITO, WARD-8(1), PUNE, PUNE

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

Bench: Dr.Manish Borad

capital gain and offered it to tax. He also submitted that reclassification of income cannot be made liable for penalty and further it is a bonafide case and there is no concealment of particulars of income. He further submitted that even on legal ground in absence of specifying sub-clause 270A(9) of the Act initiation and levy of penalty

INCOME AX OFFICER, WARD-6(1), PUNE vs. SAMBHAJI MARUTI KATKAR, PUNE

Bench: Shri Rama Kanta Panda & Shri Satbeer Singh Godara

section 54. CIT v Sh. Mahadev Balai ITA 136/2017 (Raj HC) The Hon'ble HC allowed exemption u/s 54B for investment made by the assessee in the name of his wife. 5.4. In view of the above the appellant is allowed 100% of the admissible claim of deduction u/s 54F. This ground of appeal is allowed. 5.5. Ground of Appeal

MR. SAMBHAJI MARUTI KATKAR,PUNE vs. ITO, WARD 6(1), PUNE, PUNE

Bench: Shri Rama Kanta Panda & Shri Satbeer Singh Godara

section 54. CIT v Sh. Mahadev Balai ITA 136/2017 (Raj HC) The Hon'ble HC allowed exemption u/s 54B for investment made by the assessee in the name of his wife. 5.4. In view of the above the appellant is allowed 100% of the admissible claim of deduction u/s 54F. This ground of appeal is allowed. 5.5. Ground of Appeal

PUNE MATHADI HAMAL AND OTHER MANUAL WORKERS BOARD,PUNE vs. INCOME TAX OFFICER, WARD-5(1), PUNE, PUNE

In the result, appeal of the assessee is partly allowed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.1012/Pun/2023 िनधा"रण वष" / Assessment Year : 2018-19 Pune Mathadihamal & Other The Income Tax Manual Workers Board, V Officer, Shramashakti Bhavan, S Ward-5(1), Pune. Coomercial Plot No.1, Market Yard, Pune – 411037. Pan: Aaalp0097L Appellant/ Assessee Respondent /Revenue Assessee By Shri Vipul Joshi – Ar Revenue By Shri Ajay Kumar Keshari & Shri Rajesh Gawali– Dr’S Date Of Hearing 17/04/2024 Date Of Pronouncement 27/06/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Against The Orders Of Ld.Commissionerof Income Tax(Appeals)[Nfac], Under Section 250 Of The Act Dated 14.07.2023 :

145 taxmann.com 278 (Amritsar - Trib.)] (iii) Alpha Educational Trust v. DCIT (Exemption) - [2023] 150 taxmann.com 20 (Chennai - Trib.) III. Proposition 3: If an Application for Registration is not disposed off within 6 months, then same isdeemed to be accepted/approved, in terms of section 12AA(2). Sardari Lai Oberoi memorial Charitable Trust v. ITO [2005] 3 SOT 229 (Delhi)] SambandhOrganisation

PRIDE PURPLE BUILDERS PRIVATE LTD.,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE - 1 (1),, PUNE

In the result, the appeal of the Assessee is allowed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.699/Pun/2022 िनधा"रण वष" / Assessment Year : 2015-16 Pride Purple Builders Private The Deputy Limited, V Commissioner Income Pride House, 5Th Floor, S Tax, Circle-1(1), Pune. S.No.108/7, Shivajinagar, Near Pune University Circle, Pune – 411016. Pan: Aadcp 4286 H Appellant / Assessee Respondent / Revenue Assessee By Shri Suhas Bora – Ar Revenue By Shri M G Jasnani, Irs - Dr Date Of Hearing 03/10/2023 Date Of Pronouncement 04/10/2023 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By Assessee Is Directed Against The Order Of Ld. Commissioner Of Income Tax(Appeal), Pune-11 Dated 18.08.2022For A.Y.2015-16 Emanating From The Assessment Order Under Section 143(3) Of The Income Tax Act, 1961 Dated 30.11.2017. The Assessee Has Raised The Following Grounds Of Appeal: Pride Purple Builders Private Limited [A]

gains of business or profession carried out by the assessee 18 at any time during the previous year [Clause (i) of Section 28 of the IT Act]. Section 56 of the IT Act is in the nature of a residuary clause, i.e., if the income of every kind which is not to be excluded from total income under

ASSISTANT COMMISSIONER OF INCOME TAX, KOLHPAUR vs. RBL BANK LTD, KOLHAPUR

In the result, the appeal of the Revenue is dismissed

Bench: SATBEER SINGH GODARA, JUDICIAL MEMBER, AND DR.DIPAK P. RIPOTE (Accountant Member)

145 to 168 of the paperbook) 5 16. Given that substantial addition made during A.Y. 2014-15 was only resulting in deferment of taxes, the assessee sought to withdraw the appeal preferred by it before the Hon’ble ITAT. The Hon’ble ITAT, vide order dated 06.01.2020 dismissed the appeal of the assessee based on the assessee’s request. Copy

ACIT, CENTRAL CIRCLE-1, NASHIK, NASHIK vs. RAJENDRA RASIKLAL SHAH, NASHIK

In the result, the appeal of the Revenue is dismissed

Bench: Dr.Manish Borad & Ms. Astha Chandraआयकर अपील सं. / Ita No.1015/Pun/2024 Assessment Year : 2013-14

section 54, the date of transfer shall be considered as the date of agreement to sale and decided the issue in favour of the assessee. 6.10 The Honorable ITAT Bengaluru, in the case of Shri Chandrashekar Naganagouda Patil Vs. DCIT, ITA No. 1984/Bang/2017, A.Y. 2012-13 order dated 29.06.2020, has laid down that the right to obtain conveyance acquired

MUSTAFA ALIHUSAIN SUNELWALA,PUNE vs. ITO, WARD-14(1), PUNE, PUNE

In the result, the appeal of the assessee is allowed

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

capital gains without appreciating the facts and circumstances of the case. 2. Ld CIT(A) erred in law and on facts in confirming levy of penalty of Rs 1548234/- u/s 270A(9) without appreciating that the specific limb of Sub- Section (9) of Sec 270A is not invoked nor the specific charge is being made out in the impugned order

ITO, WARD-1(1), SOLAPUR, SOLAPUR vs. MS. KSHIRSAGAR FABRICS, SOLAPUR

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

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2009-10

capital gain as casual income could not be said to be based on change of opinion. Accordingly, the re-assessment proceedings were held to be valid. Relying on the following decisions, he submitted that the re-assessment proceedings initiated by the Assessing Officer are in accordance with law: 1. CIT vs. P.V.S. Beedies

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 itself says that interest paid by\nthe assessee on the capita! borrowed by the assessee is an item of\ndeduction. The utilization of the capital is irrelevant for the purpose\nof adjudicating the claim for deduction u/s 36(l)(iii).\"\nThe SLP filed by the Department against the Bombay High Court judgment\nhas been rejected by the Supreme Court

DY.COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, AURANGABAD, AURANGABAD vs. SHRI. BALAJI RAMCHANDRA ANDE, LATUR

In the result, appeal of the Revenue dismissed

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

capital gains, nor 8 ITA.No.625/PUN./2024 is it income from other sources' because the provisions of sections 69, 69A, 698, and 69C treat unexplained investments, unexplained money, bullion, etc., and unexplained expenditure as deemed income where the nature and source of investment, acquisition or expenditure, as the case may be, have not been explained or satisfactorily explained. Therefore

ASHUTOSH DUBEY,KANJURMARG vs. DCIT CIRCLE-8, PUNE

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

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपऩल सं. / Ita No.2215/Pun/2025 निर्धारण वषा / Assessment Year: 2019-20 Ashutosh Dubey, V Income Tax Officer, Tower 8, Flat No.3201, Runwal S Circle-8, Pune. Forest, Lbs Road, Kanjurmarg West, Maharashtra – 400078 Pan: Ajppd0173M Appellant/ Assessee Respondent /Revenue Assessee By Shri Amar Pandey (Virtual) Revenue By Smt Neha Thakur (Virtual) Date Of Hearing 20/01/2026 Date Of Pronouncement 18/02/2026

145 taxmann.com 664 (Delhi) dated 08.04.2022.  ITAT Delhi Bench in the case of Sudarshan de Vs. DCIT in ITA No.5177/DEL/2025 for A.Y.2018-19 vide order dated 30.05.2025.  ITAT Pune Bench in Smita Virendra Lodha Vs. ITO in ITA No.1980/PUN/2024 vide order dated 12.11.2024  Hon'ble High Court of Delhi in the case of GE Capital US Holdings Income. Vs. DCIT