AHMEDNAGAR ZILLA GRAMSEVAKANCHI SAHAKAR PATSANSTHA MARYADIT,AHILYANAGAR vs. PCIT, PUNE-1, PUNE

In the result, the appeal of the assessee is allowed

14 as under:\n\"The purpose of bringing on the statute book sub-section (4) in Section 80P of\nthe Act was to exclude the applicability of Section 80P of the Act altogether to\nany co-operative bank and to exclude the normal business banking income\nfrom such exemption/deduction category. This exclusion by Section 80P(4) of\nthe Act even

MR POPATRAO DASHRATHRAO SURYAWANSHI,PUNE vs. INCOME TAX OFFICER, WARD-7(4), PUNE, PUNE

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2017-18 Mr. Popatrao Dashrathrao Suryawanshi Ito, Ward 7(4), Pune S.No.38, Tingre Nagar, Havaldar Mala, Vs. Vishrantwadi, Pune – 411015 Pan: Adhps2643F (Appellant) (Respondent) Assessee By : Shri Suhas Bora Department By : Shri Manish Mehta, Addl.Cit Date Of Hearing : 19-01-2026 Date Of Pronouncement : 21-01-2026 O R D E R

section 2(47)(iv) and 2(47)(v) of the Act. He submitted that whichever stand one adopts whether conversion into stock or whether transfer of agricultural land, the issue of capital gain on sale has to be considered in assessment year 2011-12. He submitted that on that date the land was agricultural land under cultivation situated beyond municipal

JAIBHAGWAN BANARASIDAS JINDAL,JALNA vs. THE INCOME TAX OFFICER, WARD-1, JALNA

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2016-17

2. The Learned CIT(A) further erred in confirming an addition of capital gain on the sale of shares of M/s. Yamini Investment Company Limited of Rs.85,38,145/- which is declared as long-term capital gain exempt under section 10(38) of the Income Tax Act by holding as non genuine and unexplained cash credit under section

INCOME TAX OFFICER, PUNE vs. PRAKASH RAMKRISHNA POPHALE, PUNE

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2017-18

section 54, being a beneficial provision enacted for encouraging investment in residential houses, should be liberally interpreted. The Hon'ble Supreme Court held that a provision for exemption or relief in a fiscal statute should be construed liberally and in favour of the assessee - Maharajadhiraj Sir Kameshwar Singh v. CIT [1957] 32 ITR 687 (SC). Considering the facts

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.

2 to section 37(1) of the Act, they are specifically excluded in clarification issued. There is no restriction on an expenditure being claimed under above sections to be exempt, as long as it satisfies necessary conditions under section 30 to 36 of the Act, for computing 9 ITA No.1158/PUN/2023 [A] ITA No.1330/PUN/2023 [R] income under the head, “Income from

MAHATMA GANDHI NAGRI SAHAKARI PAT SANSTHA MYDT UDGIR,LATUR vs. INCOME TAX OFFICER- WARD 1 -LATUR, LATUR

In the result, the appeal of the assessee is allowed

capital and its\nnormal business is to deal in money and credit. The business of such\na bank does not consist only of receiving deposits and lending money\nto its members or such other societies as are mentioned in the objects.\nWhen such a society lends out its monies so that they may be readily\navailable to meet the demands

DIMPLE RAJESH OSWAL,PUNE vs. INCOME TAX OFFICER WARD 5(1), PUNE

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

Bench: Shri R. K. Pandaassessment Year : 2016-17

14. In the light of the aforesaid provision, it is apparently clear that the moment an agreement to sell is executed between the parties and part consideration is received, the transfer for the purpose of Section 50C of the Act takes places and computation under Section 48 of the Act will start accordingly, for the purpose of calculating the capital

JAYANT AVINASH DAVE,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE 5 , PUNE

In the result, the cross appeals are partly allowed for statistical purposes and the CO is dismissed as infructuous

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.23/Pun/2019 निर्धारण वषा / Assessment Year : 2015-2016 Jayant Avinash Dave Vs. Dcit, Office No.801-804, 8Th Floor, Circle 5, Pune Amar Business Park, Sadanand Estates, Plot No.1, S.No.105, Baner Road, Pune – 411045 Pan: Aaqpd6875J Appellant Respondent आयकर अपीऱ सं. / Ita No.182/Pun/2019 निर्धारण वषा / Assessment Year : 2015-2016 Dcit, Vs. Jayant Avinash Dave Circle 5, Pune 46/2/1B, Kaka Halwai Industrial Estate, Pune Satara Road, Pune – 411009 Pan: Aaqpd6875J Appellant Respondent Cross Objection No.11/Pun/2022 (Arising Out Of Ita No.182/Pun/2019 निर्धारण वषा / Assessment Year : 2015-2016 Jayant Avinash Dave Vs. Dcit, Office No.801-804, 8Th Floor, Amar Circle 5, Pune Business Park, Sadanand Estates, Plot No.1, S.No.105, Baner Road, Pune – 411045 Pan: Aaqpd6875J Cross Objector Respondent & Co No.11/Pun/2022

gains chargeable to tax in India arose in the hands of Hutchison International, Hong Kong. To neutralize the ratio of the judgment of Hon'ble Supreme Court in Vodafone International, the legislature stepped in and carried out certain statutory amendments, including altering the definition of ‗capital asset‘ u/s 2(14), the definition of ‗transfer‘ u/s 2(47) and insertion

DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 5,, PUNE vs. JAYANT AVINASH DAVE,, PUNE

In the result, the cross appeals are partly allowed for statistical purposes and the CO is dismissed as infructuous

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.23/Pun/2019 निर्धारण वषा / Assessment Year : 2015-2016 Jayant Avinash Dave Vs. Dcit, Office No.801-804, 8Th Floor, Circle 5, Pune Amar Business Park, Sadanand Estates, Plot No.1, S.No.105, Baner Road, Pune – 411045 Pan: Aaqpd6875J Appellant Respondent आयकर अपीऱ सं. / Ita No.182/Pun/2019 निर्धारण वषा / Assessment Year : 2015-2016 Dcit, Vs. Jayant Avinash Dave Circle 5, Pune 46/2/1B, Kaka Halwai Industrial Estate, Pune Satara Road, Pune – 411009 Pan: Aaqpd6875J Appellant Respondent Cross Objection No.11/Pun/2022 (Arising Out Of Ita No.182/Pun/2019 निर्धारण वषा / Assessment Year : 2015-2016 Jayant Avinash Dave Vs. Dcit, Office No.801-804, 8Th Floor, Amar Circle 5, Pune Business Park, Sadanand Estates, Plot No.1, S.No.105, Baner Road, Pune – 411045 Pan: Aaqpd6875J Cross Objector Respondent & Co No.11/Pun/2022

gains chargeable to tax in India arose in the hands of Hutchison International, Hong Kong. To neutralize the ratio of the judgment of Hon'ble Supreme Court in Vodafone International, the legislature stepped in and carried out certain statutory amendments, including altering the definition of ‗capital asset‘ u/s 2(14), the definition of ‗transfer‘ u/s 2(47) and insertion

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

2 to section 37(1) of the Act,\nthey are specifically excluded in clarification issued. There is\nno restriction on an expenditure being claimed under above\nsections to be exempt, as long as it satisfies necessary\nconditions under section 30 to 36 of the Act, for computing\nincome under the head, “Income from Business and\nProfession\".\n\n16. For claiming

QUBIX BUSINESS PARK PRIVATE LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-8, PUNE, PUNE

In the result, Ground No.2 of the assessee is allowed for statistical purpose

Bench: DR.DIPAK P. RIPOTE (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)

Capital Gains amounting to Rs.2,57,47,042/-. Assessee relied on the decision of Hon’ble Supreme Court in the case of CIT-I Vs. Reliance Energy Ltd.(supra) [2022] 441 ITR 346 (SC). The Dispute Resolution Panelheld that there is no variation proposed in the Draft Assessment Order with reference to Assessee’s claim of deduction under section 80IAB

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION, KOLHAPUR, KOLHAPUR

In the result, all the appeals filed by the assessee are partly allowed as per terms indicated hereinabove

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1121 To 1126/Pun/2024 Assessment Years : 2012-13 To 2017-18

14. Conention-3-Erroneous/Improper charge of escapement of income As per facts, the learned AO, vide Para-7 of the 'reasons' reproduced at Page-12 of the 147 order, appears to have proceeded on the analogy that, some taxable income has escaped assessment. As against, vide Section 115BBC, mere rate of tax is differentiated from normal income. As stated earlier

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION, KOLHAPUR, KOLHAPUR

In the result, all the appeals filed by the assessee are partly allowed as per terms indicated hereinabove

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1121 To 1126/Pun/2024 Assessment Years : 2012-13 To 2017-18

14. Conention-3-Erroneous/Improper charge of escapement of income As per facts, the learned AO, vide Para-7 of the 'reasons' reproduced at Page-12 of the 147 order, appears to have proceeded on the analogy that, some taxable income has escaped assessment. As against, vide Section 115BBC, mere rate of tax is differentiated from normal income. As stated earlier

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION, KOLHAPUR

In the result, all the appeals filed by the assessee are partly allowed as per terms indicated hereinabove

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1121 To 1126/Pun/2024 Assessment Years : 2012-13 To 2017-18

14. Conention-3-Erroneous/Improper charge of escapement of income As per facts, the learned AO, vide Para-7 of the 'reasons' reproduced at Page-12 of the 147 order, appears to have proceeded on the analogy that, some taxable income has escaped assessment. As against, vide Section 115BBC, mere rate of tax is differentiated from normal income. As stated earlier

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

2 The learned CIT (Appeals) failed to appreciate that the appellant firm has transferred only the amounts pertaining to the immovable properties sitting in the Balance Sheet of the assessee firm to its partners capital accounts without execution of any instruments in writing and hence there was no legal transfer of the impugned properties to the partners giving rise

JAYNT VASUDEO ARADHYE,SOLAPUR vs. DCIT, CIRCLE-1, SOLAPUR, SOLAPUR

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.683/Pun/2024 िनधा"रण वष" / Assessment Year: 2022-23 Jaynt Vasudeo Aradhye, Vs. Dcit, Circle-1, Solapur. Villa No.25, Indradhanu, Laxmi Peth, Vishnu Mill Compound, Solapur- 413001. Pan : Aappa8903M Appellant Respondent Assessee By : Shri Deepak Chintaman Gadgil Revenue By Shri Ramnath P. Murkunde : Date Of Hearing 06.08.2024 : Date Of Pronouncement : 21.10.2024 आदेश / Order Per Vinay Bhamore, Jm: This Appeal Filed By The Assessee Is Directed Against The Order Dated 07.02.2024 Passed By Ld. Addl./Jcit(A)-1, Coimbatore For The Assessment Year 2022-23 2. The Appellant Has Raised The Following Grounds Of Appeal :- “I. The Cpc Was Not Correct Both Factually & Legally In Not Considering The Claim Of Brought Forwarded Short Term Capital Loss Of Rs 27,78,028/-. 11. Section 143(1) As It Stands On The Statute Books As On Today, Does Not Permit Either Cpc Or The Ao To Make Such Adjustments As They Are Beyond The Scope Of The Said Section.

14) (other than those as may be prescribed for this purpose) or clause (17) or clause (32), of section 10 or section 10AA or section 16 or clause (b) of section 24 (in respect of the property referred to in sub-section (2) of section 23) or clause (iia) of sub- section (1) of section 32 or section 32AD

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 17 of the Registration Act, 1908 w.e.f. 24.09.2001 vide Registration and Other Related Laws (Amendment) Act, 2001 which mandated that the title of an immovable property could be transferred only by way of a registered document. Prior to the said amendment, the title in immovable property could also be transferred by way of an unregistered agreement to sale/ contract

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)

2. The learned Income Tax Officer, Ward 1(5), Nashik, has erred in not considering the fact that the assessee has complied with the provisions of sub section (38) of section 10 and treating long term capital gain as taxable and the learned Commissioner of Income Tax (Appeals)-1, Nashik has erred in confirming the same. 3. The learned Income