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

section 28(va) of the Act. If however, the capital asset under transfer is any right to manufacture, produce or process any article or thing or right to carry on any business, income is computed under the head `Capital gains‘ by taking cost of acquisition of such right to manufacture etc. or right to carry on business u/s 55(2

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

section 28(va) of the Act. If however, the capital asset under transfer is any right to manufacture, produce or process any article or thing or right to carry on any business, income is computed under the head `Capital gains‘ by taking cost of acquisition of such right to manufacture etc. or right to carry on business u/s 55(2

RAKESH YASHWANT SHINDE,,PUNE vs. INCOME-TAX OFFICER, WARD - 8(3),, PUNE

Appeal is dismissed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपीलसं. / Ita No.1133/Pun/2018 िनधा"रण वष" / Assessment Year : 2014-15 Rakesh Yashwanth Shinde, The Income Tax Officer, Shop No.24, Rachana Industrial Vs Ward-8(3), Pune. Complex, Telco Road, Bhosari, Pune – 411034. Pan: Aorps 8006F Appellant/ Assessee Respondent /Revenue Assessee By None Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 13/07/2022 Date Of Pronouncement 27/07/2022 आदेश/ Order Per S.S.Godara, Jm: This Assessee’S Appeal For Assessment Year 2014-15 Is Directed Against The Commissioner Of Income Tax(Appeals)-13, Pune’S Order Dated 05.03.2018 Passed In Case No. Cit(A)-13/16- 17/583/617, In Proceedings U/S.143(3) Of The Income Tax Act, 1961 [In Short “The Act”].

2(47). read with sections 45 and 43, of the Income-tax Act, 1961 - Capital gains - Transfer (Joint Development Agreement) - Assessment year 2007-08 - Whether where for want of permissions, entire transaction of development of land envisaged in Joint Development Agreement (JDA) fell through, there would be no profit or gain which arose from transfer of a capital asset, which

R&DE (ENGRS) EMPLOYEES CO-OP. CREDIT SOCIETY,PUNE vs. ITO, WARD 7(3), PUNE, PUNE

In the result, the appeal of the assessee is allowed

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

28 of the Karnataka State Co-op Rules, 1960 which are mandatory for the co- operative society and try to correlate with the RBI norms for maintaining certain percentage of deposits in the form of investments which are applicable for the Banks, therefore, if qualities for deduction us. 80P(2)(a)(i) of the Act, but in this regard

SANGEETA BASAVRAJ MANGRULE,,AURANGABAD vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 2,, AURANGABAD

Appeal is dismissed in above terms

28-07-2022 Date of Pronouncement : 11-08-2022 ORDER This assessee’s appeal for A.Y. 2015-16 arises against the CIT(A)- 2, Aurangabad’s order dated 07-02-2019 passed in case No. ABD/CIT(A)- 2/461/2017-18, involving proceedings u/s 143(3) of the Income-tax Act, 1961, in short “the Act”. 2. Case called twice. None appears

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

28(4) of the Act. In this decision, it has been laid down in para-8.26 as under – ―As regards, the speculative nature of the gain, we observe that s.43(5) applies to transactions of commodities, and currency is not a commodity. A commodity ordinarily means processed or processed goods i.e. grain, fruits, vegetable, precious metal, etc. It does

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

28(4) of the Act. In this decision, it has been laid down in para-8.26 as under – ―As regards, the speculative nature of the gain, we observe that s.43(5) applies to transactions of commodities, and currency is not a commodity. A commodity ordinarily means processed or processed goods i.e. grain, fruits, vegetable, precious metal, etc. It does

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

28(4) of the Act. In this decision, it has been laid down in para-8.26 as under – ―As regards, the speculative nature of the gain, we observe that s.43(5) applies to transactions of commodities, and currency is not a commodity. A commodity ordinarily means processed or processed goods i.e. grain, fruits, vegetable, precious metal, etc. It does

DNYANOBA SHAJIRAO JADHAV,,LATUR vs. INCOME-TAX OFFICER,,

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

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

Capital Gain, as per provision of section 2(14) of the I.T Act. Therefore, assessee has claimed entire compensation as exempt. Particulars Amount of Compensation Value of land as enhanced 80,60,000 As per Court Compensation for trees 5,78,182 Solatium u/s. 23(2).. 25,91,454 Component… u/s. 23(1A) 35,41,655 Total

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

capital gain of Rs.1,44,35,387/- claimed as exempt u/s 10(38) of the Act\nafter considering the reply of the assessee to the specific queries put by him. We\nfind on the basis of information obtained from the Investigation wing that the\nassessee has sold his investments in penny stock company NITSL, reopened the\nassessment after recording

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

capital\ngain to which the assessee has replied and thereafter the Assessing Officer has\npassed the order u/s 143(3) r.w.s.153B of the Act accepting such exempt long term\ncapital gain. Therefore, the assessment in our opinion could not have been\nreopened u/s 148 of the Act for the same transaction in absence of any fresh\ntangible material

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

MANOJ JAIKUMAR TIBREWALA,,NASHIK vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE -1,, NASHIK

Accordingly. We make it clear that the assessee shall be at liberty to file all the relevant details in consequential proceedings. This last appeal ITA No. 609/Pun/2019 is allowed for statistical p...

Bench: Shri S.S. Godara & Dr. Dipak P. Ripoteit(Ss)A Nos. 06 & 07/Pun/2017 (Assessment Years: 2012-13 & 2013-14) Shri Manoj Jaikumar Tibrewala Acit, Central Circle-1 Vastu Shilp, Ground Floor Kendriya Rajaswa Bhavan Godavari Housing Society Vs. Gadkari Chowk Boys Town School Road Old Agra Road, Nashik Nashik 422005 Pan – Aakpt7009G Appellant Respondent Appellant By: Shri Pamod S. Shingte Respondent By: Shri S.P. Walimbe Date Of Hearing: 25.04.2022 Date Of Pronouncement: 10.05.2022

section 2(22)(e) is redundant. It is bound to be for a specific purpose. The question for determination is as to what is the purpose for which this Explanation. has been incorporated when the Hon'ble Supreme Court in the case of Ashokbhai Chimanbhai have held that the profits of business do not accrue from

ASSISTANT COMMISISONER OF INCOME-TAX vs. SHRI DHARAMSI HIRJI CHAUHAN,,

Accordingly, the impugned order is upheld and the appeal of Revenue is dismissed

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

gain tax as it is situated beyond 8 km from the Raipur Municipal Corporation. 02. In this regard it is humbly submitted that the argument of the Ld.AR that the Naya Raipur Development Authority (NRDA) does not fall in definition of Municipality as per section 2(14) of the Income Tax Act was on the strength of judgment

ASSISTANT COMMISISONER OF INCOME-TAX vs. SHRI DAMJI HIRJI CHAUHAN,,

Accordingly, the impugned order is upheld and the appeal of Revenue is dismissed

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

gain tax as it is situated beyond 8 km from the Raipur Municipal Corporation. 02. In this regard it is humbly submitted that the argument of the Ld.AR that the Naya Raipur Development Authority (NRDA) does not fall in definition of Municipality as per section 2(14) of the Income Tax Act was on the strength of judgment

ASSISTANT COMMISISONER OF INCOME-TAX vs. SHRI SATISH DAMJI CHAUHAN,,

Accordingly, the impugned order is upheld and the appeal of Revenue is dismissed

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

gain tax as it is situated beyond 8 km from the Raipur Municipal Corporation. 02. In this regard it is humbly submitted that the argument of the Ld.AR that the Naya Raipur Development Authority (NRDA) does not fall in definition of Municipality as per section 2(14) of the Income Tax Act was on the strength of judgment

POONAWALLA SHARES & SECURITIES PVT.LTD,PUNE vs. ASSISTANT COMMISSIONER OF WEALTH-TAX, CIRCLE-4, PUNE

Appeal is partly allowed in above terms

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपीलसं. / Ita No.380/Pun/2020 िनधा"रण वष" / Assessment Year : 2016-17 Poonawalla Shares & Securities The Assistant Pvt. Ltd., Vs Commissioner Of Income 16-B,/1, Sarosh Bhavan, Tax, Dr.Ambedkar Road, Circle-4, Pune. Pune – 411001 Pan: Aaacp 6087 H Appellant/ Assessee Respondent /Revenue Assessee By Shri Percy Pardiwala – Ar Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 08/07/2022 Date Of Pronouncement 29/07/2022 आदेश/ Order Per S.S.Godara, Jm: This Assessee’S Appeal For Assessment Year 2016-17 Is Directed Against The Commissioner Of Income Tax(Appeals)-3, Pune’S Order Dated 11.12.2019 Passed In Case No.Pn/Cit(A)-3/Cir 4/193/2018-19/428, In Proceedings U/S.143(3) Of The Income Tax Act, 1961 [In Short “The Act”].

28) in section 10 of the Income-tax Act, so as to provide exemption from long-term capital gains arising out of securities sold on the stock exchange. It is also proposed to insert a new section 111A and amend section 115AD of the Income-tax Act, so as to provide that short-term capital gains arising from sale

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

2 years since the date of transfer as per JV agreement and as per the transfer of capital asset in stock in trade is dated 20.01.2011 and the assessee has purchased the agricultural land on 23.03.2017. The reasons given by the Assessing Officer for rejecting the claim of deduction u/s 54B of the Act have already been reproduced

SETH RAMDAS NATHUBHAI DHARMADAYA VISHWASTA NIDHI,,PUNE vs. INCOME-TAX OFFICER,(EXEMPTIONS) -1,, PUNE

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury"नधा"रण वष" / Assessment Year : 2011-12 Seth Ramdas Nathubhai Dharmadaya Vs. Ito Vishwasta Nidhi, (Exemptions)-1, C/O. Shah Khandelwal Jain & Pune Associates, Chartered Accountants, Level 3, Business Bay, Plot No.84, Wellesley Road, Near Rto, Pune 411 001 Pan : Aaatr6805N Appellant Respondent

capital gains and similarly in ground No.6 the assessee prays for allowance of claim of unabsorbed expenses and depreciation from earlier years against the income so assessed. 3. The relevant facts in this case are that the assessee trust is registered under the Bombay Public Trust Act, 1950 vide No.E1150, Pune dated 13-10-1987. The assessee is registered u/s.12A