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

32(1), Explanation 7 to Section 43(1) and Explanation 2(b) to\nSection 43(6) of the Act have no applicability to the facts of the present\ncase.\n25. As regards the reliance placed by the Revenue on the provisions of\nSection 49(1)(iii)(e) and Section 55(2)(a)(ii) of the Act, it is pertinent

JOSHI WADEWALE HADAPSAR,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, appeals in the case of Mrs

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am आयकर अपीऱ सं. / Ita Nos.95 & 96/Pun/2016 यििाारण वषा / Assessment Years : 2009-10 & 2010-11

capital gains account with bank not having been made by the assessee, tantamount to furnishing of inaccurate particulars of income and justifiably, penalty under section 271(1)(c) of the Act is leviable on such furnishing of inaccurate particulars of income. The learned Authorized Representative for the assessee in a written Note had furnished the break-up of income

MRS. VASUNDHARA SHAILESH JOSHI,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, appeals in the case of Mrs

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am आयकर अपीऱ सं. / Ita Nos.95 & 96/Pun/2016 यििाारण वषा / Assessment Years : 2009-10 & 2010-11

capital gains account with bank not having been made by the assessee, tantamount to furnishing of inaccurate particulars of income and justifiably, penalty under section 271(1)(c) of the Act is leviable on such furnishing of inaccurate particulars of income. The learned Authorized Representative for the assessee in a written Note had furnished the break-up of income

JOSHI WADEWALE SHEWALWADI,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, appeals in the case of Mrs

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am आयकर अपीऱ सं. / Ita Nos.95 & 96/Pun/2016 यििाारण वषा / Assessment Years : 2009-10 & 2010-11

capital gains account with bank not having been made by the assessee, tantamount to furnishing of inaccurate particulars of income and justifiably, penalty under section 271(1)(c) of the Act is leviable on such furnishing of inaccurate particulars of income. The learned Authorized Representative for the assessee in a written Note had furnished the break-up of income

MRS. VASUNDHARA SHAILESH JOSHI,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, appeals in the case of Mrs

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am आयकर अपीऱ सं. / Ita Nos.95 & 96/Pun/2016 यििाारण वषा / Assessment Years : 2009-10 & 2010-11

capital gains account with bank not having been made by the assessee, tantamount to furnishing of inaccurate particulars of income and justifiably, penalty under section 271(1)(c) of the Act is leviable on such furnishing of inaccurate particulars of income. The learned Authorized Representative for the assessee in a written Note had furnished the break-up of income

JOSHI WADEWALE PRABHAT CINEMA,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, appeals in the case of Mrs

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am आयकर अपीऱ सं. / Ita Nos.95 & 96/Pun/2016 यििाारण वषा / Assessment Years : 2009-10 & 2010-11

capital gains account with bank not having been made by the assessee, tantamount to furnishing of inaccurate particulars of income and justifiably, penalty under section 271(1)(c) of the Act is leviable on such furnishing of inaccurate particulars of income. The learned Authorized Representative for the assessee in a written Note had furnished the break-up of income

JOSHI WADEWALE SHEWALWADI,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, appeals in the case of Mrs

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am आयकर अपीऱ सं. / Ita Nos.95 & 96/Pun/2016 यििाारण वषा / Assessment Years : 2009-10 & 2010-11

capital gains account with bank not having been made by the assessee, tantamount to furnishing of inaccurate particulars of income and justifiably, penalty under section 271(1)(c) of the Act is leviable on such furnishing of inaccurate particulars of income. The learned Authorized Representative for the assessee in a written Note had furnished the break-up of income

DEPUTY COMMISSIONER OF INCOME-TAX CIRCLE -5, PUNE vs. SERUM INSTITUTE OF INDIA PVT LTD.,, PUNE

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

capital expenditure and cannot be allowed as deduction. 29. On the other hand, ld. Sr. Counsel submits that the expenditure which does not qualify for weighted deduction can be allowed as revenue expenditure either under the provisions of section 35(1)(iv) or u/s 37(1) of the Act. He submits that this issue was covered by the decision

VASCON ENGINEERS LTD (SUCCESSOR TO ANGELICA PROPERTIES PVT. LTD.),PUNE vs. ADDITIONAL COMMISSIONER OF INCOME-TAX,, PUNE

The appeals of the assessee are partly allowed

Bench: Shri S.S.Viswanethra Ravi, Hon’Ble Jm & Dr. Dipak P. Ripote, Hon’Ble Am आयकरअपीलसं. / Ita No: 403/Pun/2015 िनधा"रणवष" / Assessment Year : 2010-11 Vason Engineers Ltd., Theadditional Commissioner Of (Formerly Angelica Properties Pvt. Vs Income Tax, Range1, Pune. Ltd.,) 301, Phoenix, Opp.Residency Club, Bund Garden Road, Pune – 411037. Pan: Aafca 8644 J Appellant/ Assessee Respondent /Revenue आयकरअपीलसं. / Ita No: 1738/Pun/2016 िनधा"रणवष" / Assessment Year : 2011-12 Angelica Properties Pvt. Ltd., The Deputy Commissioner Of Opp. Grand Hyatt Hotel, Vs Income Tax, Circle-1(1), Pune. Vimannagar, Puune – 411 014. Pan: Aafca 8644 J Appellant/ Assessee Respondent /Revenue Assessee By Shri Dharmesh Shah – Ar Revenue By Shri Naveen Gupta – Dr Date Of Hearing 24/06/2022 Date Of Pronouncement 22/09/2022 आदेश/ Order Per Dr. Dipak P. Ripote, Am: These Two Appeals Filed By The Assessee Are Directed Against The Separate Orders Of Ld.Commissioner Of Income Tax(Appeals)-1, Pune Dated 30.01.2015 & 09.06.2016 For The Assessment Years 2010-11 & 2011-12 Respectively. 2. The Assessee In Ita No.403/Pun/2015 For The A.Y.2010-11 Has Raised Following Grounds Of Appeal: “1. The Ld. Cit(A) Has Erred In Law & In Facts Enhancing The Income From Sale Of ‘Matrix It Building’ By Changing The Head Of Income From Capital Gains To Business Income Without Complying With The Principles Of Natural Justice & Without Giving Any Opportunity Of Hearing.

ii) building as part of the business income instead of capital gains, applying a higher tax rate applicable to the business income iii) instead of capital gains Treating rental income from these assets as business income iv) as against Income from House Property 7.1. In this regard, reliance is placed on the decision of the Hon’ble Delhi Tribunal

M/S. ANGELICA PROPERTIES PRIVATE LTD.,,PUNE vs. DEPUTY COMMISSIONER INCOME-TAX,,

The appeals of the assessee are partly allowed

Bench: Shri S.S.Viswanethra Ravi, Hon’Ble Jm & Dr. Dipak P. Ripote, Hon’Ble Am आयकरअपीलसं. / Ita No: 403/Pun/2015 िनधा"रणवष" / Assessment Year : 2010-11 Vason Engineers Ltd., Theadditional Commissioner Of (Formerly Angelica Properties Pvt. Vs Income Tax, Range1, Pune. Ltd.,) 301, Phoenix, Opp.Residency Club, Bund Garden Road, Pune – 411037. Pan: Aafca 8644 J Appellant/ Assessee Respondent /Revenue आयकरअपीलसं. / Ita No: 1738/Pun/2016 िनधा"रणवष" / Assessment Year : 2011-12 Angelica Properties Pvt. Ltd., The Deputy Commissioner Of Opp. Grand Hyatt Hotel, Vs Income Tax, Circle-1(1), Pune. Vimannagar, Puune – 411 014. Pan: Aafca 8644 J Appellant/ Assessee Respondent /Revenue Assessee By Shri Dharmesh Shah – Ar Revenue By Shri Naveen Gupta – Dr Date Of Hearing 24/06/2022 Date Of Pronouncement 22/09/2022 आदेश/ Order Per Dr. Dipak P. Ripote, Am: These Two Appeals Filed By The Assessee Are Directed Against The Separate Orders Of Ld.Commissioner Of Income Tax(Appeals)-1, Pune Dated 30.01.2015 & 09.06.2016 For The Assessment Years 2010-11 & 2011-12 Respectively. 2. The Assessee In Ita No.403/Pun/2015 For The A.Y.2010-11 Has Raised Following Grounds Of Appeal: “1. The Ld. Cit(A) Has Erred In Law & In Facts Enhancing The Income From Sale Of ‘Matrix It Building’ By Changing The Head Of Income From Capital Gains To Business Income Without Complying With The Principles Of Natural Justice & Without Giving Any Opportunity Of Hearing.

ii) building as part of the business income instead of capital gains, applying a higher tax rate applicable to the business income iii) instead of capital gains Treating rental income from these assets as business income iv) as against Income from House Property 7.1. In this regard, reliance is placed on the decision of the Hon’ble Delhi Tribunal

MANGILAL LAKAHJI CHOWDHARY,,PUNE vs. INCOME-TAX OFFICER, WARD - 3(1),, PUNE

Appeal is partly allowed in above terms

Bench: Shri S.S.Godara & Dr.Dipak P.Ripoteआयकरअपीलसं. / Ita No.2791/Pun/2017 िनधा"रण वष" / Assessment Year: 2013-14

32(1) though a formal deed of title may not have been executed and registered. These two judgments clearly demonstrate that even if legal title has not passed to the transferee, the transaction shall still be regarded as the transfer where the property is handed over in part performance of the agreement. It is the prescription of section

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

In the result, all the above 6 appeals filed by the Revenue are dismissed and

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

ii) Shri P Amresh Kumar, Managing Director of M/s. PFL Infotech Ltd. dated 05/06/2017 and that of (iii) Sri Abhinandan Jain dated 12/10/2017. The assessing officer has even reproduced the relevant portion of Sri Naresh Jain's statement in the assessment order. It is also undisputed that the appellant has requested for cross examination of third parties at para

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

In the result, all the above 6 appeals filed by the Revenue are dismissed and

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

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

JOHN DEERE INDIA PVT. LTD.,,PUNE vs. DEPUTY DIRECTOR OF INCOME-TAX,,

In the result, all the appeals of assessee are allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.905 & 906/Pun/2015 यििाारण वषा / Assessment Years :2007-08 & 2008-09

32. He further continued his arguments on the next date and pointed out that the issue in Allianz SE Vs. ADIT (IT) (supra) was whether it is royalty or not. He admitted that the issue in Allianz SE Vs. ADIT (IT) (supra) was royalty or not however, he pointed out that reliance placed upon on the said decision was misplaced

JOHN DEERE INDIA PVT. LTD.,,PUNE vs. DEPUTY DIRECTOR OF INCOME-TAX,,

In the result, all the appeals of assessee are allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.905 & 906/Pun/2015 यििाारण वषा / Assessment Years :2007-08 & 2008-09

32. He further continued his arguments on the next date and pointed out that the issue in Allianz SE Vs. ADIT (IT) (supra) was whether it is royalty or not. He admitted that the issue in Allianz SE Vs. ADIT (IT) (supra) was royalty or not however, he pointed out that reliance placed upon on the said decision was misplaced

JOHN DEERE EQIPMENT P. LTD.,,PUNE vs. DEPUTY DIRECTOR OF INCOME-TAX,,

In the result, all the appeals of assessee are allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.905 & 906/Pun/2015 यििाारण वषा / Assessment Years :2007-08 & 2008-09

32. He further continued his arguments on the next date and pointed out that the issue in Allianz SE Vs. ADIT (IT) (supra) was whether it is royalty or not. He admitted that the issue in Allianz SE Vs. ADIT (IT) (supra) was royalty or not however, he pointed out that reliance placed upon on the said decision was misplaced

JOHN DEERE EQIPMENT P. LTD.,,PUNE vs. DEPUTY DIRECTOR OF INCOME-TAX,,

In the result, all the appeals of assessee are allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.905 & 906/Pun/2015 यििाारण वषा / Assessment Years :2007-08 & 2008-09

32. He further continued his arguments on the next date and pointed out that the issue in Allianz SE Vs. ADIT (IT) (supra) was whether it is royalty or not. He admitted that the issue in Allianz SE Vs. ADIT (IT) (supra) was royalty or not however, he pointed out that reliance placed upon on the said decision was misplaced

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

Appeal is dismissed in above terms

ii) Barring such entitles from securities market would not be of strong deterrence in itself. In case it is established that stock platforms have been misused for taking LTCG benefits, prosecution should invariably be launched under relevant sections of SEBI Act, Section 12A read with section 24 of the securities and Exchange Board of India Act 1992 for the predicate

RAJANI PRAKASH KASHID,KOLHAPUR vs. ITO, WARD 1(4), KOLHAPUR, KOLHAPUR

In the result, the appeal of assessee is allowed

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

1. History of Property:- The property situated at R S No 1092 A Ward Kasaba Karveer Sane Guruji Vasahat Kolhapur is a agricultural land. The said property is a Inam land received by the assessee ancestors. The ancestors of the assessee were Inamdars of the said land having right of cultivation. 2. Development Agreement: During the year 2002 the assessee