BANSILAL RAMNATH AGARWAL CHARITABLE TRUST,PUNE vs. CIT (EXEMPTION), PUNE

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2020-21 Bansilal Ramnath Agarwal Charitable Trust Cit (Exemption), 251, Budhwar Peth, City Post Chowk, Vs. Pune Pune – 411002 Pan: Aaatb4383K (Appellant) (Respondent) Assessee By : Shri Kishor B Phadke Department By : Shri Amol Khairnar, Cit-Dr Date Of Hearing : 11-12-2025 Date Of Pronouncement : 28-01-2026 O R D E R Per R.K. Panda, V.P:

gain. He referred to the decision of Hon'ble Gujarat High Court in the case of N. N. Desai Charitable Trust v. CIT reported in [(2000) 246 ITR 452 (Guj] wherein the Hon’ble High Court has held that when the transactions between a charitable trust and its related concerns are excessive and lack commercial prudence, the trust forfeits exemption

DEPUTY COMMISSSIONER OF INCOME TAX, CIRCLE -1,, AURANGABAD vs. ENDURANCE TECHNOLOGIES PVT. LTD,, AURANGABAD

Appeals are dismissed in above terms

Bench: Shri S.S.Godara, Jm & Shri Dr. Dipak P. Ripote, Am आयकर अपीऱ सं. / Ita No. 989/Pn/2015 ननधधारण वषा / Assessment Year : 2010-11

capital gain on sale of land Rs.2,15,37,986/-. Further, the remaining loss of ITA Nos. 2016 & 1694/PN/2017 A.Y. 2010-11 to 2012-13, Endurance Technologies Pvt. Ltd., Rs.43,72,19,080/- on sale of shares of Paioli Meccanica SPA, Italy is also allowed to carried forward. The A.O; is directed accordingly. Ground Nos.5 & 6 are allowed

DEPUTU COMMISSIONER OF INCOME-TAX vs. ENDURANCE TECHNOLOGIES PVT. LTD.,, AURANGABAD

Appeals are dismissed in above terms

Bench: Shri S.S.Godara, Jm & Shri Dr. Dipak P. Ripote, Am आयकर अपीऱ सं. / Ita No. 989/Pn/2015 ननधधारण वषा / Assessment Year : 2010-11

capital gain on sale of land Rs.2,15,37,986/-. Further, the remaining loss of ITA Nos. 2016 & 1694/PN/2017 A.Y. 2010-11 to 2012-13, Endurance Technologies Pvt. Ltd., Rs.43,72,19,080/- on sale of shares of Paioli Meccanica SPA, Italy is also allowed to carried forward. The A.O; is directed accordingly. Ground Nos.5 & 6 are allowed

ASSISTANT COMMISSIONER OF INCOME-TAX vs. ENDURANCE TECHNOLOGIES PVT. LTD.,, AURANGABAD

Appeals are dismissed in above terms

Bench: Shri S.S.Godara, Jm & Shri Dr. Dipak P. Ripote, Am आयकर अपीऱ सं. / Ita No. 989/Pn/2015 ननधधारण वषा / Assessment Year : 2010-11

capital gain on sale of land Rs.2,15,37,986/-. Further, the remaining loss of ITA Nos. 2016 & 1694/PN/2017 A.Y. 2010-11 to 2012-13, Endurance Technologies Pvt. Ltd., Rs.43,72,19,080/- on sale of shares of Paioli Meccanica SPA, Italy is also allowed to carried forward. The A.O; is directed accordingly. Ground Nos.5 & 6 are allowed

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

263 Taxman 594 (Bom), he submitted that where after expiry of four years from end of relevant year, Assessing Officer initiated reassessment proceedings on basis of information received from Investigation wing that 'N' Ltd. was a penny stock listed in BSE which used to facilitate introduction of unaccounted income of members in form of share capital and, assessee

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

263 Taxman 594 (Bom), he submitted that where after expiry of four years from end of relevant year, Assessing Officer initiated reassessment proceedings on basis of information received from Investigation wing that 'N' Ltd. was a penny stock listed in BSE which used to facilitate introduction of unaccounted income of members in form of share capital and, assessee

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

263 Taxman 594 (Bom), he submitted that where after expiry of four years from end of relevant year, Assessing Officer initiated reassessment proceedings on basis of information received from Investigation wing that 'N' Ltd. was a penny stock listed in BSE which used to facilitate introduction of unaccounted income of members in form of share capital and, assessee

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

263 Taxman 594 (Bom), he submitted that where after expiry of four years from end of relevant year, Assessing Officer initiated reassessment proceedings on basis of information received from Investigation wing that 'N' Ltd. was a penny stock listed in BSE which used to facilitate introduction of unaccounted income of members in form of share capital and, assessee

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

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

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

263 Taxman 594 (Bom), he submitted that where after expiry of four years from end of relevant year, Assessing Officer initiated reassessment proceedings on basis of information received from Investigation wing that 'N' Ltd. was a penny stock listed in BSE which used to facilitate introduction of unaccounted income of members in form of share capital and, assessee

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

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

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

263 Taxman 594 (Bom), he submitted that where after expiry of four years from end of relevant year, Assessing Officer initiated reassessment proceedings on basis of information received from Investigation wing that 'N' Ltd. was a penny stock listed in BSE which used to facilitate introduction of unaccounted income of members in form of share capital and, assessee

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

263 Taxman 594 (Bom), he submitted that where after expiry of four years from end of relevant year, Assessing Officer initiated reassessment proceedings on basis of information received from Investigation wing that 'N' Ltd. was a penny stock listed in BSE which used to facilitate introduction of unaccounted income of members in form of share capital and, assessee

AVINASH DATTATRAY MULEY,PUNE vs. PCIT, PUNE, PUNE

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

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2020-21

section 263 of the Act, it 6 has been mentioned that the powers of Pr. Commissioner of Income Tax u/s 263 shall extend to such matters as had not been considered and decided in such appeal. It is undisputed fact that the matter of "Cost of Improvement claimed by the assessee for arising at Capital Gains

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

263 Taxman 594 (Bom), he submitted that\nwhere after expiry of four years from end of relevant year, Assessing Officer\ninitiated reassessment proceedings on basis of information received from\nInvestigation wing that 'N' Ltd. was a penny stock listed in BSE which used to\nfacilitate introduction of unaccounted income of members in form of share capital\nand, assessee

UJWAL FINE HOMES,PUNE vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX -3, PUNE

In the result, appeal of the assessee is dismissed

Bench: Ms.Astha Chandra & Dr.Dipak P. Ripoteआयकर अपील सं. / Ita Nos.491/Pun/2024 िनधा"रण वष" / Assessment Year: 2018-19 Ujwal Fine Homes, V The Principal High Bliss, S No.23, Dhayri S Commissioner Of Income Narhe Road, Pune – 411041. Tax, Pune -3, Pune. Pan; Aabfu7293E Appellant/ Assessee Respondent / Revenue Assessee By Shri C.H.Naniwadekar – Ar Revenue By Shri Ajay Kumar Keshari – Cit(Dr) Date Of Hearing 21/11/2024 Date Of Pronouncement 28/11/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Directed Against The Order Of Ld.Principal Commissioner Of Income Tax, Pune-3, Pune U/Sec.263 Of The Income Tax Act, 1961; Dated 09.02.2024 For The A.Y.2018- 19. The Assessee Has Raised The Following Grounds Of Appeal : “1. In Issuing The Notice U/S 263 Of The Income-Tax Act, 1961 For Ay 2018-19

Section 263 of the ITAT Act. There was material before the ITAT to at least prima facie infer that there was under-invoicing and that this aspect of under-invoicing was not considered by the AO in making his assessment order. The CIT, in exercising its revisional jurisdiction, has not shut out any of the defences open

M/S. SUYOJIT INFRASTRUCTURE (BOT).,,NASHIK vs. PRINCIPAL COMMISSIONER OF INCOME-TAX : 2,,

In the result, both the appeals of assessee are allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.850 & 851/Pun/2016 यििाारण वषा / Assessment Years : 2010-11 & 2011-12 M/S. Suyojit Infrastructure F 1/2, Suyojit Heights, Sharanpur Road, Opp. Rajiv Gandhi Bhavan, अऩीऱाथी/Appellant Nashik – 422002 …. Pan: Abgfs0351P Vs. The Prl. Commissioner Of Income Tax-2, …. प्रत्यथी / Respondent Nashik

263 of the Act and quashing the order passed under section 143(3) r.w.s. 147 of the Act. 5. Briefly, in the facts of the case, original assessment in the case was completed under section 143(3) of the Act on 01.06.2012. The Assessing Officer while passing the said assessment order had verified the claim of deduction under section 80IA

M/S. SUYOJIT INFRASTRUCTURE (BOT).,,NASHIK vs. PRINCIPAL COMMISSIONER OF INCOME-TAX : 2,,

In the result, both the appeals of assessee are allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.850 & 851/Pun/2016 यििाारण वषा / Assessment Years : 2010-11 & 2011-12 M/S. Suyojit Infrastructure F 1/2, Suyojit Heights, Sharanpur Road, Opp. Rajiv Gandhi Bhavan, अऩीऱाथी/Appellant Nashik – 422002 …. Pan: Abgfs0351P Vs. The Prl. Commissioner Of Income Tax-2, …. प्रत्यथी / Respondent Nashik

263 of the Act and quashing the order passed under section 143(3) r.w.s. 147 of the Act. 5. Briefly, in the facts of the case, original assessment in the case was completed under section 143(3) of the Act on 01.06.2012. The Assessing Officer while passing the said assessment order had verified the claim of deduction under section 80IA

SANJAY AMRUTRAO SATAV (HUF),PUNE vs. INCOME-TAX OFFICER, WARD 12(4), PUNE

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita No.200/Pun/2021 िनधा"रण वष" / Assessment Year: 2016-17 Sanjay Amrutrao Satav Vs. Ito, Ward- 12(4), Pune. (Huf), Amrut Palace Bungalow, Gat No.12 Bhavadi Road Wagholi, Near Bhairavnath Mandir, Taluka Haveli, Pune- 412207. Pan : Aayhs1085F Appellant Respondent Assessee By : Smt. Pooja Rander Revenue By : Shri Sardar Singh Meena Date Of Hearing : 29.06.2022 Date Of Pronouncement : 30.06.2022 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld. Pr. Commissioner Of Income Tax- 4, Pune [‘The Pr.Cit’] Dated 31.03.2021 Passed U/S 263 Of The Income Tax Act, 1961 For The Assessment Year 2016-17. 2. The Appellant Raised The Following Grounds Of Appeal :-

capital gains, has framed the impugned assessment order, the learned Pr.CIT had no jurisdiction to invoke the provisions of Section 263

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

Section 45(4), the decision of this Court in the case of Hind 10 Construction Ltd. (supra) shall not be applicable and/or the same shall not be of any assistance to the assessee. As such, we are in complete agreement with the view taken by the Bombay High Court in the case of A.N. Naik Associates and Ors., (supra

POPATLAL MOHANLAL CHORDIA,,AURANGABAD vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

In the result, appeal of the assessee is allowed on technicalities

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No. 781/Pun/2016 िनधा$रण वष$ / Assessment Year : 2008-09

263/- ------------------------- The Assessing Officer initiated penalty proceedings separately u/s.271(1)(c) of the Act for furnishing inaccurate particulars of income and levied penalty of Rs.8,21,508/-. 3. In the First Appellate proceedings, in connection with the additions @ Sl.No.4,6 & 7 above, the assessee challenged the penalty levied by the AO on account of capital gains amounting to Rs.56