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

capital gain for various beneficiaries. Referring to\nthe statements of Shri. P Amresh Kumar, MD of PFLIL, Shri Abhinandan Jain,\nDirector of PFLIL and Shri. Naresh Jain he submitted that as per their statements,\nthe overall scheme of manipulation of company shares was exposed.\n\n15. Referring to the copy of SEBI order dated 28.11.2022, copy of which is\nplaced

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

capital gain for various beneficiaries. Referring to\nthe statements of Shri. P Amresh Kumar, MD of PFLIL, Shri Abhinandan Jain,\nDirector of PFLIL and Shri. Naresh Jain he submitted that as per their statements,\nthe overall scheme of manipulation of company shares was exposed.\n\n15. Referring to the copy of SEBI order dated 28.11.2022, copy of which is\nplaced

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

capital gain for various beneficiaries. Referring to\nthe statements of Shri. P Amresh Kumar, MD of PFLIL, Shri Abhinandan Jain,\nDirector of PFLIL and Shri. Naresh Jain he submitted that as per their statements,\nthe overall scheme of manipulation of company shares was exposed.\n\n15. Referring to the copy of SEBI order dated 28.11.2022, copy of which is\nplaced

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

50,000 10. Long-term Capital [9-6-7] Rs.2,26,33,135 Property Purchased (i) Date of purchase 29-7-2016 (ii) Details of the new asset Plot no.475, Anand Nagar Sahakari, (Purchase deed enclosed) Gruharchana Sanshta (iii) Consideration paid stamp Rs.1,57,78,000 duty & etc. (iv) Amount deposited in capital Rs.68,56,000 gain A/c (v) Exemption

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

capital gains under ss. 45 to 50. Right now, we are examining a case in which the business of Indian company continued with the company itself. There was no transfer and CO No.11/PUN/2022 of business in slump sale. The assessee, being a shareholder, simply transferred his holding of 51% of the shares in the Indian company to the foreign company

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

capital gains under ss. 45 to 50. Right now, we are examining a case in which the business of Indian company continued with the company itself. There was no transfer and CO No.11/PUN/2022 of business in slump sale. The assessee, being a shareholder, simply transferred his holding of 51% of the shares in the Indian company to the foreign company

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

50,000 shares of Rs.10 each of S.V. Electricals Ltd. Out of the said shares I had sold 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

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

50,000 shares of Rs.10 each of S.V. Electricals Ltd. Out of the said shares I had sold 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

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

50,000 shares of Rs.10 each of S.V. Electricals Ltd. Out of the said shares I had sold 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

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

50,000 shares of Rs.10 each of S.V. Electricals Ltd. Out of the said shares I had sold 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

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

50,000 shares of Rs.10 each of S.V. Electricals Ltd. Out of the said shares I had sold 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

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

50,000 shares of Rs.10 each of S.V. Electricals Ltd. Out of the said shares I had sold 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

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

50,000 shares of Rs.10 each of S.V. Electricals Ltd. Out of the said shares I had sold 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

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

50,000 shares of Rs.10 each\nof S.V. Electricals Ltd. Out of the said shares I had sold 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

SITARAM R. RAHANE,NASHIK vs. INCOME TAX OFFICE. WARD 3, AHMEDNAGAR

In the result, appeal of the assessee is Partly Allowed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.650/Pun/2020 िनधा"रण वष" / Assessment Year : 2016-17 Shri Sitaram Raosaheb Rahane, The Income Tax Officer, Flat No.3, Oscar Pride, Date V Ward-3, Ahmednagar. Colony, Behind Atharva S Mangal Karyalaya, Savarkar Nagar, Gangapur Road, Nashik – 422013. Pan: Afapr 3796 R Appellant/ Assessee Respondent /Revenue Assessee By Shri Sanket Joshi – Ar Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 26/04/2023 Date Of Pronouncement 30/06/2023 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Directed Against The Order Of Ld.Commissioner Of Income Tax(Appeals)-2, Pune Dated 22.01.2020 Emanating From Assessment Order Under Section 143(3) Of The Income Tax Act, 1961 Dated 22.12.2018. The Assessee Has Raised The Following Grounds Of Appeal: Shri Sitaram Raosaheb Rahane [A]

Capital gain. 3. The Assessing Officer (AO) in the assessment order observed that Assessee vide Registered िबनाक"ा साठेखत करारनामा ‘Without Possession SatheKhath’ dated 13/04/2016 claimed to have purchased land. The AO observed that the land was reserved forest with the Government; hence, the assessee could not take possession of the land. The AO denied assessee the deduction u/s.54B

PRADEEP KISANLAL BOOB,NASHIK vs. ACIT, CIRCLE 1, NASHIK, NASHIK

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

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.189/Pun/2024 Assessment Year : 2019-20

section 50 of the act as there is a gain from sale of asset forming part of the block of assets which ceased to exist after the sale of asset and therefore the gain from sale of such business asset is a short term capital

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

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

capital gain for various beneficiaries. Referring to the staternents of Shri. P Amresh Kumar, MD of PFLIL, Shri Abhinandan Jain, Director of PFLIL and Shri. Naresh Jain he submitted that as per their statements, the overall scheme of manipulation of company shares was exposed. 15. Referring to the copy of SEBI order dated 28.11.2022, copy of which is placed

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

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

capital gain for various beneficiaries. Referring to the staternents of Shri. P Amresh Kumar, MD of PFLIL, Shri Abhinandan Jain, Director of PFLIL and Shri. Naresh Jain he submitted that as per their statements, the overall scheme of manipulation of company shares was exposed. 15. Referring to the copy of SEBI order dated 28.11.2022, copy of which is placed