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

43,72,19,086/-. However, on going through the computation of such capital loss, it is noticed that out of net capital gain on account of sale of land at Rs. 2,15,37,986/- is setoff against capital loss of Rs. 4,58,757,066/- pertaining to sale of share of Paioli Meccanica S.P.A, Italy(Paioli). The assessee company

AJINKYA ELECTROMELT PVT. LTD.,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, appeal of assessee is allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.891/Pun/2016 यििाारण वषा / Assessment Year : 2007-08 Ajinkya Electromelt Pvt. Ltd., Khandelwal Jain & Associates, Alankar Cinema Building, 1St Floor, Above United Bank, अऩीऱाथी/Appellant Pune – 411001 …. Pan: Aabca5142M Vs. The Dy. Commissioner Of Income Tax, …. प्रत्यथी / Respondent Circle-8, Pune

section 143(3) of the Income Tax Act 1961 (in short the ‘Act’). 2. The assessee has raised the following ground of appeal:- 1. On facts and circumstances prevailing in the case and as per provisions & scheme of the Act it be held that, the amount of Rs.22,90,531/- considered by the Assessing Officer as assessable under the head

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

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 to\nnote that these provisions form part of the Chapter dealing with\n\"Capital Gains

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”].

43 as given below: "Prior to the enactment of section 14A, where the business of an assessee was not a composite and indivisible business and the assessee earned both taxable and non-taxable income, the expenditure incurred on earning non-taxable income could not be allowed as a deduction as against the taxable income. As a result of the enactment

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”].

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 could be brought to tax under section

PIMPRI CHINCHWAD NEW TOWN DEVELOPMENT AUTHORITY,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

In the result, all the appeals of assessee are allowed and cross objections and appeals of Revenue are dismissed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.929 To 932/Pun/2014 यििाारण वषा / Assessment Years : 2003-04 To 2005-06 & 2008-09

43(6) of the Act, where any of the person comes from the exempt era i.e. income being taxable w.e.f assessment year 2003-04, then on this the CIT(A) has already allowed the relief vide para 17 in assessment year 2003-04. Referring to order of the Hon’ble High Court of Madhya Pradesh in M.P. Audyogik Kendra Vikas

PIMPRI CHINCHWAD NEW TOWN DEVELOPMENT AUTHORITY,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

In the result, all the appeals of assessee are allowed and cross objections and appeals of Revenue are dismissed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.929 To 932/Pun/2014 यििाारण वषा / Assessment Years : 2003-04 To 2005-06 & 2008-09

43(6) of the Act, where any of the person comes from the exempt era i.e. income being taxable w.e.f assessment year 2003-04, then on this the CIT(A) has already allowed the relief vide para 17 in assessment year 2003-04. Referring to order of the Hon’ble High Court of Madhya Pradesh in M.P. Audyogik Kendra Vikas

PIMPRI CHINCHWAD NEW TOWN DEVELOPMENT AUTHORITY,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

In the result, all the appeals of assessee are allowed and cross objections and appeals of Revenue are dismissed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.929 To 932/Pun/2014 यििाारण वषा / Assessment Years : 2003-04 To 2005-06 & 2008-09

43(6) of the Act, where any of the person comes from the exempt era i.e. income being taxable w.e.f assessment year 2003-04, then on this the CIT(A) has already allowed the relief vide para 17 in assessment year 2003-04. Referring to order of the Hon’ble High Court of Madhya Pradesh in M.P. Audyogik Kendra Vikas

INCOME-TAX OFFICER vs. PIMPRI CHINCHWAD NEW TOWN DEVELOPMENT AUTHORITY,, PUNE

In the result, all the appeals of assessee are allowed and cross objections and appeals of Revenue are dismissed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.929 To 932/Pun/2014 यििाारण वषा / Assessment Years : 2003-04 To 2005-06 & 2008-09

43(6) of the Act, where any of the person comes from the exempt era i.e. income being taxable w.e.f assessment year 2003-04, then on this the CIT(A) has already allowed the relief vide para 17 in assessment year 2003-04. Referring to order of the Hon’ble High Court of Madhya Pradesh in M.P. Audyogik Kendra Vikas

INCOME-TAX OFFICER vs. PIMPRI CHINCHWAD NEW TOWN DEVELOPMENT AUTHORITY,, PUNE

In the result, all the appeals of assessee are allowed and cross objections and appeals of Revenue are dismissed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.929 To 932/Pun/2014 यििाारण वषा / Assessment Years : 2003-04 To 2005-06 & 2008-09

43(6) of the Act, where any of the person comes from the exempt era i.e. income being taxable w.e.f assessment year 2003-04, then on this the CIT(A) has already allowed the relief vide para 17 in assessment year 2003-04. Referring to order of the Hon’ble High Court of Madhya Pradesh in M.P. Audyogik Kendra Vikas

PIMPRI CHINCHWAD NEW TOWN DEVELOPMENT AUTHORITY,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

In the result, all the appeals of assessee are allowed and cross objections and appeals of Revenue are dismissed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.929 To 932/Pun/2014 यििाारण वषा / Assessment Years : 2003-04 To 2005-06 & 2008-09

43(6) of the Act, where any of the person comes from the exempt era i.e. income being taxable w.e.f assessment year 2003-04, then on this the CIT(A) has already allowed the relief vide para 17 in assessment year 2003-04. Referring to order of the Hon’ble High Court of Madhya Pradesh in M.P. Audyogik Kendra Vikas

M/S. BILCARE LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), PUNE

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.273/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 Dcit, Central Circle-2(2), Vs. M/S. Bilcare Limited, Pune. 601, Icc Trade Tower, Pune- 411016. Pan : Aabcb2242F Appellant Respondent आयकर अपीऱ सं. / Ita No.334/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 M/S. Bilcare Limited, Vs. Dcit, Central Circle- 6Th Floor, B Wing, Icc 2(2), Pune. Trade Tower, Senapati Bapat Road, Pune- 411006. Pan : Aabcb2242F Appellant Respondent

capital gain, if any, shall be determined in such manner as may be prescribed1.] 2 [Explanation.—For the purposes of this section, reduction of the amount of goodwill of a business or profession, from the block of asset in accordance with sub-item (B) of item (ii) of sub-clause (c) of clause (6) of section 43

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), PUNE vs. M/S. BILCARE LIMITED, PUNE

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.273/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 Dcit, Central Circle-2(2), Vs. M/S. Bilcare Limited, Pune. 601, Icc Trade Tower, Pune- 411016. Pan : Aabcb2242F Appellant Respondent आयकर अपीऱ सं. / Ita No.334/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 M/S. Bilcare Limited, Vs. Dcit, Central Circle- 6Th Floor, B Wing, Icc 2(2), Pune. Trade Tower, Senapati Bapat Road, Pune- 411006. Pan : Aabcb2242F Appellant Respondent

capital gain, if any, shall be determined in such manner as may be prescribed1.] 2 [Explanation.—For the purposes of this section, reduction of the amount of goodwill of a business or profession, from the block of asset in accordance with sub-item (B) of item (ii) of sub-clause (c) of clause (6) of section 43

D vs. DISHTI INDUSTRIES LTD.,, PUNE

In the result, the appeal of the Revenue is partly allowed for

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita No.1277/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Year : 2011-12 वष"

6 and 7 are general in nature and after hearing the parties, they are dismissed as such. That leaves Ground Nos. 2 to 5. Ground Nos. 2 and 3 deals with the issue relating to the addition of Rs.4,84,34,491/-. Ground No.4 relates to disallowance on account of excess depreciation claimed on the capital subsidies ignoring the provisions

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

43,810/-. Verification of case record of your revealed and your income from and capital gain and was allowed exemption of capital gain income under section 54E of the Act. For Rs.37,00,000/- invested in State Bank of India term deposit for 40 days up to 366 days i.e. for less than three years. As per provision quoted above

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

43,810/-. Verification of case record of your revealed and your income from and capital gain and was allowed exemption of capital gain income under section 54E of the Act. For Rs.37,00,000/- invested in State Bank of India term deposit for 40 days up to 366 days i.e. for less than three years. As per provision quoted above

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

43,810/-. Verification of case record of your revealed and your income from and capital gain and was allowed exemption of capital gain income under section 54E of the Act. For Rs.37,00,000/- invested in State Bank of India term deposit for 40 days up to 366 days i.e. for less than three years. As per provision quoted above

ASSISTANT COMMISSIONER OF INCOME-TAX vs. SUNIL HARIPANT POPHALE,, NASHIK

In the result, the appeal of assessee in ITA No

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am आयकर अपीऱ सं. / Ita No.322/Pun/2014 यििाारण वषा / Assessment Year : 2010-11 Mr. Sunil Haripant Pophale, C/O Vadivarhe Specialty Chemicals Ltd., Gat No.204, Nashik Mumbai Highway, Vadivarhe, अऩीऱाथी/Appellant Nashik – 422403 …. Pan: Aahpp4573G Vs. The Jt. Commissioner Of Income Tax, …. प्रत्यथी / Respondent Range – 2, Nashik आयकर अपीऱ सं. / Ita No.448/Pun/2014 यििाारण वषा / Assessment Year : 2010-11 The Asst. Commissioner Of Income Tax, अऩीऱाथी/Appellant Circle – 2, Nashik …. Vs. Mr. Sunil Haripant Pophale, C/O Vadivarhe Specialty Chemicals Ltd., Gat No.204, Nashik Mumbai Highway, Vadivarhe, …. प्रत्यथी / Respondent Nashik – 422403 Pan: Aahpp4573G आयकर अपीऱ सं. / Ita No.301/Pun/2014 यििाारण वषा / Assessment Year : 2010-11 Smt. Sunita Ajay Ramnathkar, 22, Parijat, 95 Marine Drive, अऩीऱाथी/Appellant Mumbai – 400002 …. Pan: Aafpr1193J Vs. The Asst. Commissioner Of Income Tax, …. प्रत्यथी / Respondent Circle – 2, Nashik

section 10(33) of the Act, such use could not be said to be abuse of law. It further held that even assuming that the transaction was pre-planned, there was nothing to impeach the genuineness of the transaction and hence, capital loss on sale of shares was allowed in the hands of assessee. 26. The Hon’ble High Court