ASSISTANT COMMISSIONER OF INCOME TAX,, PUNE vs. M/S. RENAISSANCE CULTIVATION LLP,, PUNE

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita No.1416/Pun/2017 िनधा"रण वष" / Assessment Year: 2013-14 Acit, Central Circle-2(1), Vs. M/S Renaissance Pune. Cultivation Llp, Pastakiya House, A/P Kamshet Maval, Pune- 410405 Pan : Aaofr7634K Appellant Respondent Revenue By : Shri J. P. Chadraker Assessee By Shri Neelesh Khandelwal : Date Of Hearing : 16.03.2022 Date Of Pronouncement : 05.04.2022 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Revenue Directed Against The Order Of Ld. Commissioner Of Income Tax (Appeals)- 12, Pune [‘Cit(A)’ For Short] Dated 21.03.2017 For The Assessment Year 2013-14. 2. The Revenue Raised The Following Grounds Of Appeal :- “1. On The Facts & Circumstances Of The Case, The Ld. Cit(A) Was Justified In Allowing The Appeal Of The Assessee Without Appreciating The Entire Facts Of The Case.

gains arises on sale of land cannot be taxed under the head ‘business income’. 6. Being aggrieved by the decision of the ld. CIT(A), the Revenue is in appeal before us. 7. The ld. CIT-DR submitted that whether a particular land is agricultural or not is essential a question of fact which should be decided with reference

DEPUTY COMMISSIONER OF INCOME-TAX vs. FUTURA BIOPLANTS PVT. LTD.,, PUNE

In the result, the cross objection filed by the assessee is partly

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील आयकर अपील संसंसंसं. / Ita No. 1271/Pun/2015 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Year : 2011-12 वष"

276 of the Paper Book). Further, the Assessee submits a summary of the foreign exchange gain earned by it in the subject assessment year. Sr. Particulars Amount of foreign No. exchange gain/loss (Rs.) 1 Capital expenditure 1,19,514 2 Revenue Creditors (29,530) 3 Revenue Debtors 10,40,664 4 Revaluation at the year end 3,75,230 (unrealised

ARMED FORCES EX-OFFICERS MULTISERVICES CO-OPERATIVE SOCIETY LTD,PUNE vs. INCOME TAX OFFICERS NFAC, PUNE

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

Bench: SHRI R. K. PANDA (Vice President), SHRI VINAY BHAMORE (Judicial Member)

capital gains amounting to INR 20,17,659/- twice while computing the income as per the assessment order under section 147 rws 144 rws 1448 dated 26 March 2022. Also, Tax credits such as TDS Advance and self- assessment tax paid for the has not been given while computing final tax liability. 3) The appellant craves leave to add, alter

DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 8,, PUNE vs. M/S. FINOLEX CABLES LTD,, PUNE

In the result, appeal of the Revenue is partly allowed

Bench: Shri R.S. Syal, Hon. Vice-& Shri Partha Sarathi Chaudhury, Hon.Dcit, Circle-8, Vs M/S. Finolex Cables Ltd., Pune. 26/27, Mumbai Pune Road, Pimpri, Pune. Pan: Aaacf 2637 D Appellant/Revenue Respondent /Assessee Assessee By : Shrij.G. Pendse, Ar Revenue By : Shrim.M. Chate, Cit Dr Date Of Hearing : 24/05/2023 Date Of Pronouncement : 26/05/2023 Order Perpartha Sarathi Chaudhury, Jm: This Appeal Preferred By The Revenue Emanates From The Order Of Commissioner Of Income Tax (Appeals)-13, Pune, Dated 19.05.2022For A.Y.2013-14 As Per The Following Revised Grounds Of Appeal:- “1(A) Whether On The Facts & Circumstances Of The Case & In Law, The Ld. Cit(A) Has Erred In Allowing The Claim Of The Assessee U/S 80Ic On Income Earned From Sale Of Scrap Without Appreciating The Fact That Assesses Itself Categorized Income Earned From Sale Of Scrap As Other Income In The Profit & Loss Statement Of Roorkee Unit Undertaking & The Same Is Not Derived From The Activities Of The Eligible Business. 1(B) Whether On The Facts & Circumstances Of The Case & In Law, The Ld.Cit(A)Has Erred In Ignoring The Decision Of Hon'Ble Supreme Court In The Case Of Liberty India Vs. Cit (2009) 317 Itr 218 (Sc) Wherein The Words "Derived From' Is Explained? 1(C) Whether On The Facts & Circumstances Of The Case & In Law, The Ld. Cit(A) Was Justified In Allowing The Claim Of The Assessee U/S 80Ic On Sale Of Scrap, Relying On The Decision Of The Hon'Ble Madras High Court In The Case Of M/S Fenner India Ltd. (241 Itr 803) Without Appreciating The Facts That The Same Has Been M/S. Finolex Cables Ltd.

Capital Asset management Ltd. reported as 86 taxmann.com 200? 3(a) Whether on the facts and in circumstances of the case, Ld. CIT(A) was justified in allowing the appeal of the assessee by deleting the transfer pricing adjustment in the transaction of allocation of common expenses to the manufacturing unit in Roorkee for which the assessee is claiming deduction

ASHWINI SAHAKARI RUNGNALAYA & RESEARCH CENTER,,SOLAPUR vs. COMMISSIONER OF INCOME-TAX, (EXEMPTIONS),, PUNE

Bench: Hon’Ble Shri S. S. Viswanethra Ravi & Shri G. D. Padmahshaliआयकर अपील सं. / Ita No. 714/Pun/2018 Ashwini Sahakari Rugnalaya & Research Centre 7107/1, Plot No. 180, North Sadar Bazar, Solapur-413003. Pan: Aaaja0041K . . . . . . . अपीलार्थी / Appellant

capital expansion i.e. once as an application of income when expanded and then as depreciation thereon. So, the extraneous profits generated from commercial operations were swept out by claiming double deduction so as to portrait that it is a charitable institution made meagre incidental profits. 8.6 Adverting to internal resolution placed at Pg230-to250/PB-1, for instance

LEKHAKOSH KARMACHARI SAHAKARI PATPEDHI SANSTHA MARYADIT,PUNE vs. PR. CIT, PUNE-4, PUNE

In the result, the appeal of the assessee is allowed

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

capital & reserve fund Loans/Advances given to members by the society 1,85,17,879 Excess of Loans/Advances/Deposits from members 1,58,01,767 available with the society 7 ITA No.575/PUN/2024, AY 2017-18 It implies that the deposits accepted from the members were not used by the society in its business of providing credit facilities to its members. Instead they