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

gains chargeable to tax in India arose in the hands of Hutchison International, Hong Kong. To neutralize the ratio of the judgment of Hon'ble Supreme Court in Vodafone International, the legislature stepped in and carried out certain statutory amendments, including altering the definition of ‗capital asset‘ u/s 2(14), the definition of ‗transfer‘ u/s 2(47) and insertion

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

gains chargeable to tax in India arose in the hands of Hutchison International, Hong Kong. To neutralize the ratio of the judgment of Hon'ble Supreme Court in Vodafone International, the legislature stepped in and carried out certain statutory amendments, including altering the definition of ‗capital asset‘ u/s 2(14), the definition of ‗transfer‘ u/s 2(47) and insertion

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)

47,041/-. 3.1 Ld.AR relied on the decision of Hon’ble Supreme Court in Commissioner of Income Tax-I Vs. Reliance Energy Ltd., [2022] 441 ITR 346 (SC) dated 28.04.2021. 9 Submission of ld.DR : 4. Ld.Departmental Representative(ld.DR) for the Revenue submitted that Assessee had not claimed deduction on Income from Other Sources and Capital Gains under section

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

gain on sale of plots is already filed along with computation of income for the year under assessment in our earlier submission. We enclose herewith Purchase and sale deeds of the said plots sold for your record and perusal. 4. We enclose herewith copy of Financial Statements of SV Electricals along with movement of Share Prices for your record

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

gain on sale of plots is already filed along with computation of income for the year under assessment in our earlier submission. We enclose herewith Purchase and sale deeds of the said plots sold for your record and perusal. 4. We enclose herewith copy of Financial Statements of SV Electricals along with movement of Share Prices for your record

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

gain on sale of plots is already filed along with computation of income for the year under assessment in our earlier submission. We enclose herewith Purchase and sale deeds of the said plots sold for your record and perusal. 4. We enclose herewith copy of Financial Statements of SV Electricals along with movement of Share Prices for your record

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

gain on sale of plots is already filed along with computation of income for the year under assessment in our earlier submission. We enclose herewith Purchase and sale deeds of the said plots sold for your record and perusal. 4. We enclose herewith copy of Financial Statements of SV Electricals along with movement of Share Prices for your record

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

gain on sale of plots is already filed along with computation of income for the year under assessment in our earlier submission. We enclose herewith Purchase and sale deeds of the said plots sold for your record and perusal. 4. We enclose herewith copy of Financial Statements of SV Electricals along with movement of Share Prices for your record

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

gain on sale of plots is already filed along with computation of income for the year under assessment in our earlier submission. We enclose herewith Purchase and sale deeds of the said plots sold for your record and perusal. 4. We enclose herewith copy of Financial Statements of SV Electricals along with movement of Share Prices for your record

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

gain on sale of plots is already filed along with computation of income for the year under assessment in our earlier submission. We enclose herewith Purchase and sale deeds of the said plots sold for your record and perusal. 4. We enclose herewith copy of Financial Statements of SV Electricals along with movement of Share Prices for your record

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

gain on sale of plots is already filed along with\ncomputation of income for the year under assessment in our earlier submission.\nWe enclose herewith Purchase and sale deeds of the said plots sold for your\nrecord and perusal.\n4. We enclose herewith copy of Financial Statements of SV Electricals along with\nmovement of Share Prices for your record

BALASAHEB POPATRAO PHADOL, NASHIK,NASHIK vs. INCOME TAX OFFICER, WARD-1(2) NASHIK, NASHIK

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

Bench: Shri Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.891/Pun/2023 िनधा"रण वष" / Assessment Year : 2012-13 Balasaheb Popatrao Phadol, Vs. Ito, Ward-1(2), Nashik. Vaishnav Niwas, Phadol Mala, At Post Ambad, Nashik- 422010. Pan : Apipp8834L Appellant Respondent Assessee By : Shri R. P. Dhaware (Virtual) Revenue By : Ms. Shilpa N. C. Date Of Hearing : 20.01.2025 Date Of Pronouncement : 09.04.2025 आदेश / Order Per Vinay Bhamore, Jm: This Appeal Filed By The Assessee Is Directed Against The Order Dated 14.06.2023 Passed By Ld. Cit(A)/Nfac For The Assessment Year 2012-13. 2. The Appellant Has Raised The Following Ground Of Appeal :- “1. The Development Agreement Was Executed In The Ay 2012-13 & Supplementary Agreement Was Executed In The Ay 2013-14. No Sale Of Flats In The Year Of Assessment Order. Only Development Agreement Was Not Transfer U/S 2(47). Commencement Certificate Was Received In The Assessment Year 2013-2014.”

capital gains income had arisen to assessee on transfer of development rights in its land to a developer, since assessee had merely granted licence to permit construction on land to such developer but not given any possession in land as contemplated under section 53A of T.P. Act, 1882, there was no transfer as per section 2(47

JAGANNATH SAMBHAJI SATAV,PUNE vs. ITO WARD 12(4), PUNE, PUNE

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

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

section 2(47) of the Act. Accordingly attracts Long Term Capital Gains on transfer of land during the year under

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

DIMPLE RAJESH OSWAL,PUNE vs. INCOME TAX OFFICER WARD 5(1), PUNE

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

Bench: Shri R. K. Pandaassessment Year : 2016-17

capital gains by invoking the provision of Section 50C of the Act, which was clearly not applicable in the assessees' case.” 8. The similar issue has been considered by ITAT Ranchi Bench in the case of Bajrang Lal Naredi vs. ITO in ITA No. 327/RAN/2018 order dated 20.01.2020. The finding of the Tribunal in paragraph

S K BHANSALI & ASSOCIATES,PUNE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, PUNE

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2006-07

capital gain become taxable in assessment year 1999-2000 in terms of Section 45(i) of the Act. The 9 Hon‟ble Bombay High in the aforesaid judgement had an occasion to consider the import of the expression „transfer‟ as per the Section 2(47

SACHIN RAMESH PAWAR,SATARA vs. ITO WARD 8(2), SATARA

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

Bench: Dr.Manish Boradआयकर अपील सं. / Ita No.1753/Pun/2024 Assessment Year : 2013-14

capital gains made by the Ld. AO and upheld by the CIT(A) on alleged transfer of the land as per section 2(47

S K BHANSALI & ASSOCIATES,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, PUNE, PUNE

Appeal is allowed in above terms

Bench: Shri Satbeer Singh Godara & Dr. Dipak P. Ripote

capital gain become taxable in assessment year 1999-2000 in terms of Section 45(i) of the Act. The Hon’ble Bombay High in the aforesaid judgement had an occasion to consider the import of the expression ‘transfer’ as per the Section 2(47