ALNESH AKIL SOMJI,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX, PUNE

In the result, both the appeals filed by the assessee are partly allowed for statistical purposes

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

gains of business or profession" The language used in Section 37(1) was "laid out or expended for the purpose of the business or profession and not "laid out or expended for the purpose of making or earning such income and set out in section 57(iii). The words in Section 57(iii) being narrower, contended the revenue, they cannot

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

III of\nthis submission, has\nclearly explained the\nbasis on which the\nshares were purchased\nby the accountant of the\nassessee's family.\nAdditionally,\nthe\nassessee has provided\nthe phone number and\nname of the sub-broker\nwhose advice was\nfollowed by the\naccountant in\npurchasing PFL shares.\nFurthermore, this is not\na case where the\nassessee invested a\nsubstantial

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

III of\nthis submission, has\nclearly explained the\nbasis on which the\nshares were purchased\nby the accountant of the\nassessee's family.\nAdditionally,\nthe\nassessee has provided\nthe phone number and\nname of the sub-broker\nwhose advice was\nfollowed by the\naccountant\nin\npurchasing PFL shares.\nFurthermore, this is not\na case where the\nassessee invested a\nsubstantial

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

iii) Demat account statement for the period of purchase and sale of shares iv) Share allotment letter on allotment of shares v) Contact notes of sale of shares 16 20. He submitted that the Ld. CIT(A) / NFAC did not consider the various documents including bank statements, share allotment letter, copy of demat account, bills, contract notes etc., in respect

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)

III (Section 10A, Section 10AA) S.No. Section Amount 1 80IAB 275298833 2 80G 1572505 5.2 Then, Assessee in Form No.10CCB has claimed deduction under section 80IAB of Rs.27,52,98,833/-. In the Form 11 No.10CCB, Assessee has certified that profits and gains derived by the undertaking from the eligible business is of Rs.27,52,98,833/-. 5.3 Thus

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

III of\nthis submission, has\nclearly explained the\nbasis on which the\nshares were purchased\nby the accountant of the\nassessee's family.\nAdditionally, the\nassessee has provided\nthe phone number and\nname of the sub-broker\nwhose advice was\nfollowed by the\naccountant in\npurchasing PFL shares.\nFurthermore, this is not\na case where the\nassessee invested a\nsubstantial

TULSABAI VASANT 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

AMOL VASANT 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

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

ATHARVA FOUNDRIES PRIVATE LIMITED,PUNE vs. ASSISTANT COMISSIONER OF INCOME TAX, CIRCLE 1(1) , PUNE

In the result, the appeal of the assessee is allowed

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

sections 30 to 36 and not being in the nature of capital expenditure or personal expenses of the assessee), laid out or expended wholly and exclusively for the purposes of the business or profession shall be allowed in computing the income chargeable under the head "Profits and gains of business or profession". Explanation 1. - For the removal of doubts

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.

36 of the Act, for computing 9 ITA No.1158/PUN/2023 [A] ITA No.1330/PUN/2023 [R] income under the head, “Income from Business and Profession”. 16. For claiming benefit under section 80G, deductions are considered at the stage of computing “Total taxable income”. Even if any payments under section 80G forms part of CSR payments ( keeping in mind ineligible deduction expressly provided u/s.80G

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

iii) of the Act, therefore, no capital gain could arise in assessment year 2011-12. He submitted that conversion of capital asset into stock u/s 45(2) of the Act is inconsequential and the transfer of land and conversion of land into stock on same day has no effect. Further, if flats are treated as converted, then its cost

MS RAJMAL LAKHICHAND,JALGAON vs. DCIT, JALGAON

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2016-17 M/S Rajmal Lakhichand Vs. Dcit, Jalgaon 169, Balaji Peth, Jalgaon – 425001 Pan: Aacfr8609L (Appellant) (Respondent) Assessee By : Shri Nikhil Pathak Department By : Shri Arvind Desai, Addl Cit-Dr Date Of Hearing : 29-01-2025 Date Of Pronouncement : 11-04-2025 O R D E R

section 36(1)(iii) of the Act. 11. Similarly, the Assessing Officer noted that even after entering into the Joint Venture agreement, no work is commenced and no work-in-progress or any sort of work is done. The huge advance was given as loan and the property to be developed do not have commensurate valuation. He further noted that

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

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION, KOLHAPUR, KOLHAPUR

In the result, all the appeals filed by the assessee are partly allowed as per terms indicated hereinabove

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1121 To 1126/Pun/2024 Assessment Years : 2012-13 To 2017-18

iii. Damaged donation receipts due to flood as referred in the Panchnama of the Talathi, photo of the same. In this regard, we would like to further explain and reiterate that the donations are collected by volunteers. This fact is In this regard we would like to further explain and reiterate proved beyond doubt from the statement of volunteers taken

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION, KOLHAPUR, KOLHAPUR

In the result, all the appeals filed by the assessee are partly allowed as per terms indicated hereinabove

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1121 To 1126/Pun/2024 Assessment Years : 2012-13 To 2017-18

iii. Damaged donation receipts due to flood as referred in the Panchnama of the Talathi, photo of the same. In this regard, we would like to further explain and reiterate that the donations are collected by volunteers. This fact is In this regard we would like to further explain and reiterate proved beyond doubt from the statement of volunteers taken

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION, KOLHAPUR

In the result, all the appeals filed by the assessee are partly allowed as per terms indicated hereinabove

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1121 To 1126/Pun/2024 Assessment Years : 2012-13 To 2017-18

iii. Damaged donation receipts due to flood as referred in the Panchnama of the Talathi, photo of the same. In this regard, we would like to further explain and reiterate that the donations are collected by volunteers. This fact is In this regard we would like to further explain and reiterate proved beyond doubt from the statement of volunteers taken

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-8, PUNE, PUNE vs. ADVIK HI-TECH PVT. LTD., PUNE

In the result, the cross appeal filed by the Revenue in ITA\nNo

36 of the Act, for computing\nincome under the head, “Income from Business and\nProfession\".\n\n16. For claiming benefit under section 80G, deductions are\nconsidered at the stage of computing “Total taxable income”.\nEven if any payments under section 80G forms part of CSR\npayments (keeping in mind ineligible deduction expressly\nprovided u/s.80G), the same would already stand excluded