KAVITA POLYMERS,PUNE vs. ACIT, CENTRAL CIRCLE 2(2), PUNE

Appeal is partly allowed in above terms

Bench: Shri S. S. Godara & Shri Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.52/Pun/2020 िनधा"रण वष" / Assessment Year: 2015-16 Kavita Polymers, Vs. Acit, Central Circle- S-196, Midc, Bhosari, 2(2), Pune. Pune- 411026. Pan : Aadfk1774G Appellant Respondent Assessee By : None Revenue By : Shri Arvind Desai Date Of Hearing : 13.06.2022 Date Of Pronouncement : 20.06.2022 आदेश / Order Per S. S. Godara, Jm: This Assessee’S Appeal For Assessment Year 2015-16 Arises Against The Cit(A)- 12, Pune’S Order Dated 28.10.2019 Passed In Case No. Pn/Cit(A)-12/10475/2017-18 Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961; In Short “The Act”. Case Called Twice. None Appears At Assessee’S Behest. It Is Accordingly Proceeded Ex-Parte. 2. The Assessee’S Sole Substantive Grievance Raised Herein Challenges Correctness Of Both The Lower Authorities’ Action Making Section 50C Addition Of Long & Short Term Capital Gains Amounting

capital gains based on the DVO’s report. Accordingly, the grounds of the appellant are dismissed and the income of the assessee enhanced as stated above.” 3. Mr. Desai vehemently argued in the light of (2013) 152 TTJ 482 (Mumbai) Shavo Norgren (P.) Ltd. Vs. DCIT that the learned lower authorities have rightly made the impugned addition qua transfer