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"

section 54F of the Act for the following reasons: A. Referring to the legal expenditure of Rs.2,68,500/-, Ld. Counsel for the assessee submitted that the said amount was paid for (i) title search (ii) property consultancy (iii) legal consultancy. All these were incurred in connection with the investment of capital gains in the residential bungalow located at Sindh

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

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

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

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 tax at 10% u/s 111A of the Act. The assessee was asked to show cause as to why the income not be treated as business income

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 appearing on behalf of the assessee submitted at the outset that the assessee has raised 5 grounds in appeal, the ground 3 ITA No. 1550/PUN/2014, A.Y. 2004-05 No. 1 of the appeal is not pressed. The ground Nos. 4

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

4. The assessment for the year under consideration, AY 2012-13 was completed under section 143(3) of the Act by order dated 12-3-2015. During the course of the scrutiny assessment, the Assessing Officer noticed that the assessee had sold two landed properties at Kalapatti and Dharapuram and the capital gain was worked out for both the properties

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

4 Hectors situated at Majalgaon is jointly owned by the three assessees having 1/3rd share each. The aforesaid land was sold by the assessees in the period relevant to the assessment year 2008-09 for a total consideration of Rs.3.68 crores. The assessees thereafter claimed deduction u/s. 54B in respect of Long Term Capital Gains arising on the sale

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

4 Hectors situated at Majalgaon is jointly owned by the three assessees having 1/3rd share each. The aforesaid land was sold by the assessees in the period relevant to the assessment year 2008-09 for a total consideration of Rs.3.68 crores. The assessees thereafter claimed deduction u/s. 54B in respect of Long Term Capital Gains arising on the sale

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

4 Hectors situated at Majalgaon is jointly owned by the three assessees having 1/3rd share each. The aforesaid land was sold by the assessees in the period relevant to the assessment year 2008-09 for a total consideration of Rs.3.68 crores. The assessees thereafter claimed deduction u/s. 54B in respect of Long Term Capital Gains arising on the sale

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

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

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

ARCHANA PRASHANT DATE,PUNE vs. ITO, WARD 11(1), PUNE, PUNE

In the result, appeal of the assessee is allowed

Bench: Dr.Manish Borad & Ms.Astha Chandra

4 Archana Prashant Date gives the benefit of section 54 of the Act for the investment in another residential house which in this case is of new flat purchased at Rs.75,04,825/-. Since the cost of new flat is more than the net capital gain of Rs.65,84,280/-, resulting Nil capital gain but ld.CIT(A) has inadvertently forgot

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

JAYA HIND INDUSTRIES LIMITED,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 9,, PUNE

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

172 and also on the decision of Hon’ble Kerala High Court in the case of CIT vs. Midas Rubber (P.) Ltd., 43 taxmann.com 112. 6. On the other hand, ld. Sr. CIT-DR placed reliance on the decision of the ld. CIT(A). 7. We heard the rival submission and perused the material on record. The issue involved

JOHN DEERE EQIPMENT P. LTD.,,PUNE vs. DEPUTY DIRECTOR OF INCOME-TAX,,

In the result, all the appeals of assessee are allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.905 & 906/Pun/2015 यििाारण वषा / Assessment Years :2007-08 & 2008-09

Capital gains") for— (i) the transfer of all or any rights (including the granting of a licence) in respect of a patent, invention, model, design, secret formula or process or trade mark or similar property ; (ii) the imparting of any information concerning the working of, or the use of, a patent, invention, model, design, secret formula or process or trade

JOHN DEERE INDIA PVT. LTD.,,PUNE vs. DEPUTY DIRECTOR OF INCOME-TAX,,

In the result, all the appeals of assessee are allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.905 & 906/Pun/2015 यििाारण वषा / Assessment Years :2007-08 & 2008-09

Capital gains") for— (i) the transfer of all or any rights (including the granting of a licence) in respect of a patent, invention, model, design, secret formula or process or trade mark or similar property ; (ii) the imparting of any information concerning the working of, or the use of, a patent, invention, model, design, secret formula or process or trade

JOHN DEERE INDIA PVT. LTD.,,PUNE vs. DEPUTY DIRECTOR OF INCOME-TAX,,

In the result, all the appeals of assessee are allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.905 & 906/Pun/2015 यििाारण वषा / Assessment Years :2007-08 & 2008-09

Capital gains") for— (i) the transfer of all or any rights (including the granting of a licence) in respect of a patent, invention, model, design, secret formula or process or trade mark or similar property ; (ii) the imparting of any information concerning the working of, or the use of, a patent, invention, model, design, secret formula or process or trade