INCOME TAX OFFICER, PUNE vs. PRAKASH RAMKRISHNA POPHALE, PUNE

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2017-18

capital Rs.68,56,000 gain A/c (v) Exemption claimed Rs.2,26,33,135 g) The above facts clearly show that Appellant has claimed deduction u/s 54 of Act and not u/s 54F of Act as held and disallowed by the AO. h) Appellant has submitted all the bills/vouchers regarding Cost of improvement of residential property sold before the AO during

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

42,000 shares for Rs.73,08,000/- in A.Y. 2011-12 and Balance of 2,08,000 shares were sold in A.Y. 2012-13 for Rs.1,48,30,096/-. The capital Gains arising on sale are already reflected in my Balance Sheet. The dates of Sale and Purchase and copies of relevant Pass Books shall be submitted later

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

42,000 shares for Rs.73,08,000/- in A.Y. 2011-12 and Balance of 2,08,000 shares were sold in A.Y. 2012-13 for Rs.1,48,30,096/-. The capital Gains arising on sale are already reflected in my Balance Sheet. The dates of Sale and Purchase and copies of relevant Pass Books shall be submitted later

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

42,000 shares for Rs.73,08,000/- in A.Y. 2011-12 and Balance of 2,08,000 shares were sold in A.Y. 2012-13 for Rs.1,48,30,096/-. The capital Gains arising on sale are already reflected in my Balance Sheet. The dates of Sale and Purchase and copies of relevant Pass Books shall be submitted later

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

42,000 shares for Rs.73,08,000/- in A.Y. 2011-12 and Balance of 2,08,000 shares were sold in A.Y. 2012-13 for Rs.1,48,30,096/-. The capital Gains arising on sale are already reflected in my Balance Sheet. The dates of Sale and Purchase and copies of relevant Pass Books shall be submitted later

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

42,000 shares for Rs.73,08,000/- in A.Y. 2011-12 and Balance of 2,08,000 shares were sold in A.Y. 2012-13 for Rs.1,48,30,096/-. The capital Gains arising on sale are already reflected in my Balance Sheet. The dates of Sale and Purchase and copies of relevant Pass Books shall be submitted later

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

42,000 shares for Rs.73,08,000/- in A.Y. 2011-12 and Balance of 2,08,000 shares were sold in A.Y. 2012-13 for Rs.1,48,30,096/-. The capital Gains arising on sale are already reflected in my Balance Sheet. The dates of Sale and Purchase and copies of relevant Pass Books shall be submitted later

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

42,000 shares for Rs.73,08,000/- in A.Y. 2011-12 and Balance of 2,08,000 shares were sold in A.Y. 2012-13 for Rs.1,48,30,096/-. The capital Gains arising on sale are already reflected in my Balance Sheet. The dates of Sale and Purchase and copies of relevant Pass Books shall be submitted later

NAWAB PASHASAHEB JAMADAR,LATUR vs. THE INCOME TAX OFFICER, WARD-1, LATUR

In the result, the appeal is partly allowed for statistical purposes

Bench: Shri R.S. Syalआयकर अपीऱ सं. /Ita No.731/Pun/2023 निर्धारण वषा / Assessment Year : 2014-15 Nawab Pashasaheb Jamadar, Vs. Ito, Ward-1, Global Panacea Hospital, Latur Gross Golden Jubilee, B-Block, Mahaeboob Nagar, Ambajogai Road, Latur – 413 512, Maharashtra Pan : Aaopj3902E Appellant Respondent

section 50(2), he computed the short term capital gain by reducing the written down value and value of the block from the sale consideration of Rs.35,51,000/-, for determining short term capital gain at Rs.31,31,800/-. Since the benefit of depreciation was claimed by considering the construction of new building as part of the block

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

42,000\nshares for Rs.73,08,000/- in A.Y. 2011-12 and Balance of 2,08,000\nshares were sold in A.Y. 2012-13 for Rs.1,48,30,096/-. The capital\nGains arising on sale are already reflected in my Balance Sheet. The\ndates of Sale and Purchase and copies of relevant Pass Books shall\nbe submitted later

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.

capital gain on transfer/sale of shares instead of business income because the transaction relates to sale of shares and does not relate to the normal business transaction. Thus, this ground of appeal is hereby partly allowed. 16.1 In this regard we find that a special section i.e.43AA was inserted in the statute book w.e.f 01-04-2017 which deals with

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

capital gain on transfer/sale of\nshares instead of business income because the transaction\nrelates to sale of shares and does not relate to the normal\nbusiness transaction. Thus, this ground of appeal is hereby\npartly allowed.\n\n16.1 In this regard we find that a special section i.e.43AA was\ninserted in the statute book w.e.f 01-04-2017 which deals

ASHOK VIJAYKUMAR KOTECHA,JALGAON vs. ACIT, CIRCLE 1, JALGAON, JALGAON

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2011-12

gain or Short Term Capital Loss in their books of accounts. It was noticed that share price of M/s. Nivyah Infrastructure & Telecom Services Ltd rose from Rs.39 on 2nd July 2009 to Rs.2050 on 5th Jan 2011and dipped to Rs.47.20 on 15th July 2012. However, the financials of the company for the relevant period do not show any substantial change

INCOME AX OFFICER, WARD-6(1), PUNE vs. SAMBHAJI MARUTI KATKAR, PUNE

Bench: Shri Rama Kanta Panda & Shri Satbeer Singh Godara

42,71,818/-; disallowed to the extent of Rs.2,52,50,000/; in the course of assessment dated 05.12.2022 and partly upheld in CIT(A)-NFAC’s detailed discussion as under : “5.1. Ground of Appeal No.1: The appellant objects to restricting the deduction to 50% of the Purchase cost of New Property, by the AO on the reasoning that

MR. SAMBHAJI MARUTI KATKAR,PUNE vs. ITO, WARD 6(1), PUNE, PUNE

Bench: Shri Rama Kanta Panda & Shri Satbeer Singh Godara

42,71,818/-; disallowed to the extent of Rs.2,52,50,000/; in the course of assessment dated 05.12.2022 and partly upheld in CIT(A)-NFAC’s detailed discussion as under : “5.1. Ground of Appeal No.1: The appellant objects to restricting the deduction to 50% of the Purchase cost of New Property, by the AO on the reasoning that

MADANLAL LALCHAND JAIN,NANDURBAR vs. ACIT CENTRAL CIRCLE 2, NASHIK

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2021-22 Madanlal Lalchand Jain Acit, Central Circle-2, Vibhare Building, Nashik Near City Police Station, Vs. Hat Darwaja Station Road, Nandurbar – 425412 Pan: Abkpj3633K (Appellant) (Respondent) Assessment Year : 2021-22 Acit, Central Circle-2, Madanlal Lalchand Jain Nashik Vibhare Building, Vs. Near City Police Station, Hat Darwaja Station Road, Nandurbar – 425412 Pan: Abkpj3633K (Appellant) (Respondent) Co No.42/Pun/2025 Assessment Year : 2021-22 Madanlal Lalchand Jain Acit, Central Circle-2, Vibhare Building, Nashik Near City Police Station, Vs. Hat Darwaja Station Road, Nandurbar – 425412 Pan: Abkpj3633K (Appellant) (Respondent) Assessment Year : 2022-23 Madanlal Lalchand Jain Acit, Central Circle-2, Vibhare Building, Nashik Near City Police Station, Vs. Hat Darwaja Station Road, Nandurbar – 425412 Pan: Abkpj3633K (Appellant) (Respondent) : Shri Nikhil S Pathak Department By : Shri Amol Khairnar, Cit-Dr Date Of Hearing : 03-11-2025 Date Of Pronouncement : 21-11-2025 O R D E R Per Bench:

gain being 50% share. We find the Ld. CIT(A) upheld the addition made by the Assessing Officer, the reasons of which have already been reproduced in the preceding paragraphs. It is the submission of the Ld. Counsel for the assessee that the impounded documents found from the premises of Shri Kalpesh Jain does not mention the name

MADANLAL LALCHAND JAIN,NANDURBAR vs. ACIT CENTRAL CIRCLE 2, NASHIK

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2021-22 Madanlal Lalchand Jain Acit, Central Circle-2, Vibhare Building, Nashik Near City Police Station, Vs. Hat Darwaja Station Road, Nandurbar – 425412 Pan: Abkpj3633K (Appellant) (Respondent) Assessment Year : 2021-22 Acit, Central Circle-2, Madanlal Lalchand Jain Nashik Vibhare Building, Vs. Near City Police Station, Hat Darwaja Station Road, Nandurbar – 425412 Pan: Abkpj3633K (Appellant) (Respondent) Co No.42/Pun/2025 Assessment Year : 2021-22 Madanlal Lalchand Jain Acit, Central Circle-2, Vibhare Building, Nashik Near City Police Station, Vs. Hat Darwaja Station Road, Nandurbar – 425412 Pan: Abkpj3633K (Appellant) (Respondent) Assessment Year : 2022-23 Madanlal Lalchand Jain Acit, Central Circle-2, Vibhare Building, Nashik Near City Police Station, Vs. Hat Darwaja Station Road, Nandurbar – 425412 Pan: Abkpj3633K (Appellant) (Respondent) : Shri Nikhil S Pathak Department By : Shri Amol Khairnar, Cit-Dr Date Of Hearing : 03-11-2025 Date Of Pronouncement : 21-11-2025 O R D E R Per Bench:

gain being 50% share. We find the Ld. CIT(A) upheld the addition made by the Assessing Officer, the reasons of which have already been reproduced in the preceding paragraphs. It is the submission of the Ld. Counsel for the assessee that the impounded documents found from the premises of Shri Kalpesh Jain does not mention the name

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, NASHIK, NASHIK vs. MADANLAL LALCHAND JAIN, NANDURBAR

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2021-22 Madanlal Lalchand Jain Acit, Central Circle-2, Vibhare Building, Nashik Near City Police Station, Vs. Hat Darwaja Station Road, Nandurbar – 425412 Pan: Abkpj3633K (Appellant) (Respondent) Assessment Year : 2021-22 Acit, Central Circle-2, Madanlal Lalchand Jain Nashik Vibhare Building, Vs. Near City Police Station, Hat Darwaja Station Road, Nandurbar – 425412 Pan: Abkpj3633K (Appellant) (Respondent) Co No.42/Pun/2025 Assessment Year : 2021-22 Madanlal Lalchand Jain Acit, Central Circle-2, Vibhare Building, Nashik Near City Police Station, Vs. Hat Darwaja Station Road, Nandurbar – 425412 Pan: Abkpj3633K (Appellant) (Respondent) Assessment Year : 2022-23 Madanlal Lalchand Jain Acit, Central Circle-2, Vibhare Building, Nashik Near City Police Station, Vs. Hat Darwaja Station Road, Nandurbar – 425412 Pan: Abkpj3633K (Appellant) (Respondent) : Shri Nikhil S Pathak Department By : Shri Amol Khairnar, Cit-Dr Date Of Hearing : 03-11-2025 Date Of Pronouncement : 21-11-2025 O R D E R Per Bench:

gain being 50% share. We find the Ld. CIT(A) upheld the addition made by the Assessing Officer, the reasons of which have already been reproduced in the preceding paragraphs. It is the submission of the Ld. Counsel for the assessee that the impounded documents found from the premises of Shri Kalpesh Jain does not mention the name

M/S GIRIRAJ ENTERPRISES,PUNE vs. DCIT, CENTRAL CIRCLE 1(1), PUNE, PUNE

In the result, the appeal filed by the assessee is allowed and the appeals filed by the Revenue are dismissed

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2015-16

capital loss despite transaction is not falling under section 94 (7) of the act holding it to be sham and fictitious transaction is devoid of any merit. Accordingly on the merits also, orders of the lower authorities are reversed and ground number 4 – 7 of the appeal are allowed.” 20. We find Jaipur Bench of the Tribunal in the case