RAJENDRA L.AGARWAL,,PUNE vs. INCOME-TAX OFFICER, (INTERNATIONAL TAXATION -I),, PUNE

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं आयकर अपील सं. / Ita No. 2330/Pun/2017 आयकर अपील सं आयकर अपील सं िनधा"रण वष" / Assessment Year : 2012-13 िनधा"रण वष" िनधा"रण वष" िनधा"रण वष"

gains chargeable to tax. 3. The learned CIT(A) erred in holding that the above transaction of sale of equity shares was sham and not genuine. 4. The appellant craves leave to add, alter, amend or delete any of the above grounds of appeal.” 3. Briefly stated relevant facts include that the Assessee is a Non-resident and filed return

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 11,, PUNE vs. IGATE GLOBAL SOLUTIONS LTD,, PUNE

In the result, the appeal of Revenue is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Ravi

172 of the paper book. The relevant portion of the Para No. 14 is reproduced here-in-below for ready reference : “14. The Ld. Counsel for the assessee submitted that this issue is covered in favour of the assessee by the decision of the Co-ordinate Bench of the Tribunal in ITA No.342/PUN/2014 for assessment year 2009-10 in assessee

CAPGEMINI TECHNOLOGY SERVICES INDIA LIMITED, (EARLIER KNOWN AS IGATE GLOBAL SOLUTIONS LTD),,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 11,, PUNE

In the result, the appeal of Revenue is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Ravi

172 of the paper book. The relevant portion of the Para No. 14 is reproduced here-in-below for ready reference : “14. The Ld. Counsel for the assessee submitted that this issue is covered in favour of the assessee by the decision of the Co-ordinate Bench of the Tribunal in ITA No.342/PUN/2014 for assessment year 2009-10 in assessee

MANGESH A.TUPE,,PUNE vs. INCOME-TAX OFFICER,,

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

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

section 50C, as well as computation of Long Term Capital Gain at Rs.25,05,172/-. 3. Shri Suhas P. Bora

KISHOR MADHAV PARANJAPE,PUNE vs. DCIT, CENTRAL CIRCLE 2(2), PUNE

In the result, appeal of the Assessee is partly allowed for statistical purpose

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकरअपीलसं. / Ita No.1887/Pun/2019 िनधा"रणवष" / Assessment Year : 2015-16 Kishor Madhav Paranjape, The Dcit, Central 1139/516, Venu Apts, Vs Circle-2(2), Pune. Off F C Road, Shivajinagar, Pune – 411016. Pan: Abipp 3973 A Appellant/ Assessee Respondent /Revenue Assessee By Shri Suhas P Bora – Ar Revenue By Shri S P Walimbe– Dr Date Of Hearing 28/06/2022 Date Of Pronouncement 30/06/2022 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)-12, Pune For The Assessment Year 2015-16, Dated 23.09.2019. 2. The Facts Emanating From The Assessment Order & Penalty Order Are That The Assessee Is An Individual Deriving Income From Business. He Is A Partner In Various Firms, Earning Share Of Profit, Interest On Capital & Remuneration From Partnership Firms. It Is Pertinent To Note That All The Firms Wherein The Assessee Is A Partner, Are All Engaged In The Business Of Land Development & Building Construction. The Assessee Filed His Return Of Income For Assessment

capital gain was worked out for both the properties at Rs. 1,37,31,142/-. However this was not admitted by the assessee in the return of income………… 14.We have carefully perused the penalty order dated 25-9-2015 and we find that the Assessing Officer considered all the factual aspects raised by the assessee and rejected the same

DEPUTY COMMISSIONER OF INCOME-TAX vs. FINOLEX INDUSTRIES LTD.,, PUNE

In the result, the appeal of Revenue is dismissed

Bench: Shri Anil Chaturvedi, Am & Shri Vikas Awasthy, Jm

3. Before us, at the outset, Ld.D.R. submitted that though Revenue has raised various grounds but all the grounds are inter- connected and can be considered together. 4. AO noticed that assessee had offered short term capital gains of Rs.19,95,85,093/-, out of which on the amount of capital gains of Rs.5,29,56,697/-, assessee had paid

ACIT CIR-II AURANGABAD, AURANGABAD vs. SHRI BAJAJ MURLIDHAR GIRDHARILAL, BEED

In the result, all the three appeals by the Revenue are dismissed

Bench: Shri Anil Chaturvedi, Am & Shri Vikas Awasthy, Jm

gain arises from the transfer of a capital asset being land which, in the two years immediately preceding the date on which the transfer took place, was being used by the assessee or a parent of his for agricultural purposes (hereinafter referred to as the original asset), and the assessee has, within a period of two years after that date

ACIT CIR-II AURANGABAD, AURANGABAD vs. SHRI BAJAJ JUGALKISHOR GIRDHARILAL,, BEED

In the result, all the three appeals by the Revenue are dismissed

Bench: Shri Anil Chaturvedi, Am & Shri Vikas Awasthy, Jm

gain arises from the transfer of a capital asset being land which, in the two years immediately preceding the date on which the transfer took place, was being used by the assessee or a parent of his for agricultural purposes (hereinafter referred to as the original asset), and the assessee has, within a period of two years after that date

ACIT CIR-II AURANGABAD, AURANGABAD vs. SHRI BAJAJ SATYANARAYAN GIRDHARILAL,, BEED

In the result, all the three appeals by the Revenue are dismissed

Bench: Shri Anil Chaturvedi, Am & Shri Vikas Awasthy, Jm

gain arises from the transfer of a capital asset being land which, in the two years immediately preceding the date on which the transfer took place, was being used by the assessee or a parent of his for agricultural purposes (hereinafter referred to as the original asset), and the assessee has, within a period of two years after that date

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

In the result, both the appeals of the Revenue are dismissed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita Nos.549 & 550/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2011-12 & 2012-13 वष"

172/- by treating the same as ‘Bogus purchases’. 8. in confirming disallowance of rent paid of Rs.31,44,000/- for bungalow located at 70, Koregaon Park, Pune taken on lease (belonging to M/s. Poonawalla Finvest & Agro Pvt. Ltd., ZSP Group Company) for office of Director of appellant company and depreciation of Rs.12,97,701/- on the assets placed there

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

In the result, both the appeals of the Revenue are dismissed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita Nos.549 & 550/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2011-12 & 2012-13 वष"

172/- by treating the same as ‘Bogus purchases’. 8. in confirming disallowance of rent paid of Rs.31,44,000/- for bungalow located at 70, Koregaon Park, Pune taken on lease (belonging to M/s. Poonawalla Finvest & Agro Pvt. Ltd., ZSP Group Company) for office of Director of appellant company and depreciation of Rs.12,97,701/- on the assets placed there

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

In the result, both the appeals of the Revenue are dismissed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita Nos.549 & 550/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2011-12 & 2012-13 वष"

172/- by treating the same as ‘Bogus purchases’. 8. in confirming disallowance of rent paid of Rs.31,44,000/- for bungalow located at 70, Koregaon Park, Pune taken on lease (belonging to M/s. Poonawalla Finvest & Agro Pvt. Ltd., ZSP Group Company) for office of Director of appellant company and depreciation of Rs.12,97,701/- on the assets placed there

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

In the result, both the appeals of the Revenue are dismissed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita Nos.549 & 550/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2011-12 & 2012-13 वष"

172/- by treating the same as ‘Bogus purchases’. 8. in confirming disallowance of rent paid of Rs.31,44,000/- for bungalow located at 70, Koregaon Park, Pune taken on lease (belonging to M/s. Poonawalla Finvest & Agro Pvt. Ltd., ZSP Group Company) for office of Director of appellant company and depreciation of Rs.12,97,701/- on the assets placed there

DY. COMMISSIONER OF INCOME TAX, PUNE vs. DILIP MOTILALJI CHORDIA, PUNE

In the result, the appeal filed by the Revenue as well as\nthe Cross Objection filed by the assessee are allowed for\nstatistical purposes

172 taxmann.com 278 (Delhi-Trib.) wherein the\nHon'ble ITAT has held as under:\n\"Section 96 of the RFCTLARR Act, 2013 provides exemption\nfrom income tax and stamp duty of the compensation received\non compulsory acquisition made under this Act for public\npurposes. Section 105(1) of the RFCTLARR Act, 2013 states\nthat provisions of this Act shall

KALAVATHI DEVI SHARMA,HYDERABAD vs. ITO, WARD-1, NANDED, NANDED

In the result, appeal of the assessee is dismissed

Bench: Dr.Manish Borad

section 148A. In this case, the same has been complied by the AO in compliance to Hon'ble Apex Court's decision in the case of Ashish Agarwal Vs. UOI. In view of the above discussion, this argument of the appellant is therefore rejected and Ground No. 3 is hereby dismissed. 8. The ground No. 4 raised by the appellant

MR DNYANESHWAR BABURAO KATHE,NASHIK vs. INCOME TAX OFFICER, WARD-1(3), PUNE, PUNE

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.432/Pun/2024 िनधा"रण वष" / Assessment Year: 2011-12 Mr. Dnyaneshwar Baburao Vs. Ito, Ward-1(3), Pune. Kathe, Janori Dhawa, 10Th Mail Road, Dindori, Nashik- 422206. Pan : Bbppk3199D Appellant Respondent Assessee By : Shri Krishna V. Gujarathi Revenue By : Shri Ramnath P. Murkunde Date Of Hearing : 13.08.2024 Date Of Pronouncement : 04.11.2024 आदेश / Order Per Vinay Bhamore, Jm: This Appeal Filed By The Assessee Is Directed Against The Order Dated 05.01.2024 Passed By Ld. Cit(A)/Nfac For The Assessment Year 2011-12. 2. The Appellant Has Raised The Following Grounds Of Appeal :- “1) On The Facts & In The Circumstance Of The Case & In Law The Honorable Cit(A) Has Erred & Is Not Justified In Confirming The Addition Of Rs.31,58,740/- By Treating The Cash Deposits Made By The Assessee In The Saving Bank Account Of Dena Bank As Unexplained Income Without Appreciating The Fact That The Said Cash Deposited In The Bank Was Out Of Agriculture Sale Proceeds. The Appellant Prays That The Addition May Please Be Deleted.

section 2(14) of the IT Act, accordingly Capital Gain cannot be calculated. Alternatively, it was also submitted before the Bench that sale proceeds/long term capital gain in any case was invested in residential building 8 wherein an amount of Rs.32,05,250/- was invested by the assessee. Accordingly, it was claimed that deduction u/s 54F is also allowable

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

capital gain account, before due date of filing of ROI. As such even on this count you do not appear to be eligible to claim exemption u/s 54F for the second house property purchased on 24.05.2015 3. In this regard, an opportunity of being heard s being provided to you on 01.03.2024 at 03.00 PM. You are requested to make

DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 3,, PUNE vs. M/S. VISHRAM DEVELOPERS,, PUNE

In the result, the appeal of Revenue is allowed for statistical purposes

Bench: Shri D. Karunakara Rao & Shri S.S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.1794/Pun/2017 नििाारण वषा / Assessment Year : 2011-12 The Dy. Commissioner Of Income Tax, Circle – 3, Pune .......अऩीऱाथी / Appellant बिाम / V/S. M/S. Vishram Developers, 61B/11, Zelum Apartment, Prabhat Road, Erandwane, Pune – 411004 Pan: Aagfv0995F ……प्रत्यथी / Respondent Assessee By : S/Shri Ajay Singh / Deepak Sasar Revenue By : Shri Deepak Garg

172 / 49 SOT 67 (Ahmedabad)(URO) 5. Section 80A of the Act reads as under: Section 80A(5) - Where the assessee fails to make a claim in his return of income for any deduction under section 10A or section 10AA or section 10B or section 10BA or under any provision of this Chapter under the heading "C. - Deductions in respect