ROHINI MARUTI DESHMUKH,PUNE vs. INCOME TAX OFFICER, WARD 6(2), PUNE

In the result, all the appeals (ITA Nos

Bench: Dr. Manish Borad & Shri Vinay Bhamore

gain was calculated on that date on account of conversion of capital asset into stock-in-trade. There is no dispute at the end of the Ld.AO that assessee’s share of LTCG is ₹ 1,64,17,638/- which has been worked out on the basis of the figures of sale consideration available on the date of entering into

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

23,93,990/-. Thereafter, assessment under section u/s 143(3) r.w.s.153B was\ncompleted on 30.11.2016 accepting the total income returned.\n\n2. As per the information in possession of this office, the assessee had sold his investment in penny stocks\nof M/s PFL Infotech Ltd, Hyderabad (PFLIL) during FY 2014-15. Further, it was stated that the company PFLIL

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

capital gains on account of trading in shares of a penny stock companies which is\nexempt u/s 10(38) of the Income Tax Act, 1961. The penny stock shares have been regularly purchased and sold\nand LTCG is claimed as exempt in the return of income thereby routing her undisclosed income / into the\naccounts. In view of above, there exist

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

c); (ii) take a decision under section\n149A(d) based on the available material and the reply of the assessee, and (ii)\nissue a notice under section 148 if it was a fit case for reassessment. Once the\nclock started ticking, the assessing officer was required to complete these\nprocedures within the surviving time limit. The surviving time limit

SINHAGAD TECHNICAL EDUCATION SOCIETY,PUNE vs. PCIT(CENTRAL), PUNE, PUNE

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoresinhagad Technical Education Society Pcit (Central), Pune Smt. Khilare Marg, Off Karve Road, Vs. Pune – 411004 Pan: Aabts9900Q (Appellant) (Respondent) Assessee By : Shri Suhas Bora & Miss Sampada Ingale Department By : Shri Ajay Kumar Keshari - Cit Date Of Hearing : 25-03-2025 Date Of Pronouncement : 29-05-2025 O R D E R

gains of business which is not incidental to the attainment of its objectives or separate books of account are not maintained by such trust or institution in respect of the business which is incidental to the attainment of its objectives; or c) The trust or institution has applied any part of its income from the property held under a trust

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

23,93,990/-. Thereafter, assessment under section u/s 143(3) r.w.s.153B was\ncompleted on 30.11.2016 accepting the total income returned.\n\n2. As per the information in possession of this office, the assessee had sold his investment in penny stocks\nof M/s PFL Infotech Ltd, Hyderabad (PFLIL) during FY 2014-15. Further, it was stated that the company PFLIL

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)

23, 2006. The SEZ developed by the Company was notified on October 03, 2007 (i.e., FY 2007-08). Accordingly, being a SEZ Developer, the Company is eligible to claim a deduction under section 80-IAB of the Act for 10 years in a 15-year period ending in FY 2021-22 (i.e., AY 2022-23). The Company claimed a deduction

AGRA OBSTETRICAL AND GYNAECOLOGICAL SOCIETY,AGRA vs. PCIT, CENTRAL, PUNE

capitation fees are merely based on the statement of\nemployees which have been subsequently retracted and the Pendrive\nand loose document found at the residential premises of employee has\nalso been retracted at the subsequent stage and that the Managing\nTrustee of the assessee trust has denied to be indulged into any of such\nalleged transaction in the statement given

M.M. PATEL PUBLIC CHARITABLE TRUST,SOLAPUR vs. PCIT- CENTRAL, PUNE, PUNE

In the result, the appeal of the assessee is partly allowed

capitation fees are merely based on the statement of\nemployees which have been subsequently retracted and the\nPendrive and loose document found at the residential premises\nof employee has also been retracted at the subsequent stage\nand that the Managing Trustee of the assessee trust has denied\nto be indulged into any of such alleged transaction in the\nstatement given

BHARAT DEWAKINANDAN AGARWAL,PUNE vs. ACIT, CIRCLE-13, PUNE., PUNE

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

Bench: Shri Om Prakash Kant & Shri S.S. Viswanethra Ravi

gains and income from other sources. Under scrutiny, notices u/s. 143(2) and 142(1) of the Act issued. In response to the said notices, the assessee filed details before the AO which is evident from para 2 of the assessment order. According to the AO, the assessee has shown gross annual value regarding office No. 801 at “Zero

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 45(2) is inconsequential. 18. The Ld. Counsel for the assessee also filed a copy of the occupancy certificate dated 23.12.2014 and the following chart disclosing the calculation of correct capital gain on sale of flats: 11 Particulars FY 16-17 AY 17-18 (a) Sale Consideration 3,67,25,561 (b) Total FMV as on date

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

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, we are of the view that\nthese provisions have no relevance to the facts of the present case.\n26. The Revenue, vide its written submissions, has relied upon certain\njudicial pronouncements

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.

capital gain on transfer/sale of shares instead of business income because the transaction relates to sale of shares and does not relate to the normal business transaction. Thus, this ground of appeal is hereby partly allowed. 16.1 In this regard we find that a special section i.e.43AA was inserted in the statute book w.e.f 01-04-2017 which deals with

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)

section 271(l)(c) of the Act requires the Ld. AO to record is satisfaction before imposition of penalty, the AO could not have imposed penalty merely because the assessee has not filed any response. The CIT(A) has held the order imposing penalty to be bad in law on this count too. The assessee submits that there

AIDS SOCIETY OF INDIA,MUMBAI vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL), PUNE

capitation fees are merely based on the statement of employees which have been subsequently retracted and the Pendrive and loose document found at the residential premises of employee has also been retracted at the subsequent stage and that the Managing Trustee of the assessee trust has denied to be indulged into any of such alleged transaction in the statement given

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

1. We enclose herewith confirmation of parties for the year under assessment. 2. We enclose herewith ledger account of agriculture income for your record and perusal. 3. The details of capital gain on sale of plots is already filed along with computation of income for the year under assessment in our earlier submission. We enclose herewith Purchase and sale deeds

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. ASHISH OMPRAKASH MANTRI, JALNA

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

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

1. We enclose herewith confirmation of parties for the year under assessment. 2. We enclose herewith ledger account of agriculture income for your record and perusal. 3. The details of capital gain on sale of plots is already filed along with computation of income for the year under assessment in our earlier submission. We enclose herewith Purchase and sale deeds

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

1. We enclose herewith confirmation of parties for the year under assessment. 2. We enclose herewith ledger account of agriculture income for your record and perusal. 3. The details of capital gain on sale of plots is already filed along with computation of income for the year under assessment in our earlier submission. We enclose herewith Purchase and sale deeds