VASCON ENGINEERS LTD (SUCCESSOR TO ANGELICA PROPERTIES PVT. LTD.),PUNE vs. ADDITIONAL COMMISSIONER OF INCOME-TAX,, PUNE

The appeals of the assessee are partly allowed

Bench: Shri S.S.Viswanethra Ravi, Hon’Ble Jm & Dr. Dipak P. Ripote, Hon’Ble Am आयकरअपीलसं. / Ita No: 403/Pun/2015 िनधा"रणवष" / Assessment Year : 2010-11 Vason Engineers Ltd., Theadditional Commissioner Of (Formerly Angelica Properties Pvt. Vs Income Tax, Range1, Pune. Ltd.,) 301, Phoenix, Opp.Residency Club, Bund Garden Road, Pune – 411037. Pan: Aafca 8644 J Appellant/ Assessee Respondent /Revenue आयकरअपीलसं. / Ita No: 1738/Pun/2016 िनधा"रणवष" / Assessment Year : 2011-12 Angelica Properties Pvt. Ltd., The Deputy Commissioner Of Opp. Grand Hyatt Hotel, Vs Income Tax, Circle-1(1), Pune. Vimannagar, Puune – 411 014. Pan: Aafca 8644 J Appellant/ Assessee Respondent /Revenue Assessee By Shri Dharmesh Shah – Ar Revenue By Shri Naveen Gupta – Dr Date Of Hearing 24/06/2022 Date Of Pronouncement 22/09/2022 आदेश/ Order Per Dr. Dipak P. Ripote, Am: These Two Appeals Filed By The Assessee Are Directed Against The Separate Orders Of Ld.Commissioner Of Income Tax(Appeals)-1, Pune Dated 30.01.2015 & 09.06.2016 For The Assessment Years 2010-11 & 2011-12 Respectively. 2. The Assessee In Ita No.403/Pun/2015 For The A.Y.2010-11 Has Raised Following Grounds Of Appeal: “1. The Ld. Cit(A) Has Erred In Law & In Facts Enhancing The Income From Sale Of ‘Matrix It Building’ By Changing The Head Of Income From Capital Gains To Business Income Without Complying With The Principles Of Natural Justice & Without Giving Any Opportunity Of Hearing.

Capital Gain taking the sale consideration at Rs.117,31,70,040/- for two assessment years as under : AY Sale consideration disclosed in the Sale consideration for the Return of Income purpose of Section 48 r.w.s 50C

DINAR UMESHKUMAR MORE,,NASHIK vs. INCOME-TAX OFFICER,,

In the result, the appeal is allowed for statistical purposes

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Section 50C, in case of transfer of a capital asset being land or building on both, the value adopted or assessed by the stamp valuation authority for the purpose of payment of stamp duty shall be taken as the full value of consideration for the purposes of computation of capital gains

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 1, , NASHIK vs. SMT. PRIYA K. JAGTIYANI, LEGAL HEIR OF LATE SHRI KISHOR C. JAGTIYANI, NASHIK

In the result, the appeal of Revenue is dismissed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.336/Pun/2016 यििाारण वषा / Assessment Year : 2011-12 The Asst. Commissioner Of Income Tax, अऩीऱाथी/Appellant Circle – 1, Nashik …. Vs. Smt. Priya K. Jagtiyani L/H Of Late Kishor Chelaram Jagtiyani Office No.1, Shalimar Towers, Shalimar Chowk, Shivaji Road, …. प्रत्यथी / Respondent Nashik – 422001 Pan: Adepj7743C

section 50C. 2) Whether on the facts and in the circumstances of the case, the Ld. CIT(A)-1, Nashik was correct in holding the transactions of the assessee as business transactions when the assessee himself had offered the same as Capital Gain

D.L. KHANDGE,,PUNE vs. INCOME TAX OFFICER,, PUNE

In the result, both the appeals are allowed

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhuryassessment Year : 2007-08

50C(1) as discussed above. If, on the other hand, we agree with the view point of the assessee, then capital gain on the transfer of the capital asset will be subjected to taxation in the A.Y. 2001-02 subject to its computation in accordance with the relevant provisions but without any application of section

SUBHADRA TANAJI CHAVAN,SATARA vs. INCOME TAX OFFICER WARD 2, SATARA

In the result, the appeal of the assessee is allowed

Bench: Ms.Astha Chandra & Dr.Dipak P. Ripoteआयकर अपील सं. / Ita No.1389/Pun/2025 िनधा"रण वष" / Assessment Year: 2021-22 Subhadra Tanaji Chavan, V The Income Tax Officer, Plot No.31, Suparna Niwas S Ward-2, Satara. Pawar Colony, Shahupuri, Satara – 415002. Maharashtra. Pan: Bgspc7420D Appellant/ Assessee Respondent / Revenue Assessee By Shri Pramod S Shingte – Ar Revenue By Shri Akhilesh Srivastva–Addl.Cit(Dr) Date Of Hearing 10/07/2025 Date Of Pronouncement 29/07/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeal)[Nfac], Passed Under Section 250 Of The Income Tax Act, 1961 For The A.Y.2021-22Dated 30.03.2025, Emanating From Order U/S.143(1)Of The Income Tax Act, 1961, Dated 28.12.2022. The Assessee Has Raised Following Grounds Of Appeal :

capital gain in terms with sub-section (3) of section 50C. Therefore, sub-section (1) to section 50C cannot be considered

SUNIL HARRIRAM KRIPLANI,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 6,, PUNE

In the result, the appeal of the assessee is allowed

Section 50C of the I.T. Act, 1961, the assessee should have offered to tax, the capital gains as per the stamp

SHIVKUMAR RADHESHYAM SHARMA,,NASHIK vs. INCOME-TAX OFFICER,,

In the result, appeal of the assessee is dismissed

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No.749/Pun/2016 "नधा"रण वष" / Assessment Year : 2011-12

capital gains on this transaction, the Assessing Officer held the asset in question is not stock-in-trade and treated the same as investment asset. Eventually, Assessing Officer invoked the provisions of Section 50C

POPATLAL MOHANLAL CHORDIA,,AURANGABAD vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

In the result, appeal of the assessee is allowed on technicalities

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No. 781/Pun/2016 िनधा$रण वष$ / Assessment Year : 2008-09

Capital gains according to section 50C 15,97,820 2 Capital gains not offered for taxation 27,20,215/- 3 Capital

JAYASHREE J. SHIROLE,,PUNE vs. INCOME TAX OFFICER,,

In the result, all the appeals of assessee are partly allowed

Bench: Ms. Sushma Chowla, Jm आयकर अपीऱ सं. / Ita No.111/Pun/2017 यििाारण वषा / Assessment Year : 2007-08 Smt. Jayashree J Shirole, Jayvilla, 86/6B, Damle Path, Erandwane, अऩीऱाथी/Appellant Pune – 411004 …. Pan: Acmps4316B Vs.

section 50C of the Act and he re-computed the income from long term capital gains on account of 1/3rd

JAYRAJ J SHIROLE,,PUNE vs. INCOME TAX OFFICER,,

In the result, all the appeals of assessee are partly allowed

Bench: Ms. Sushma Chowla, Jm आयकर अपीऱ सं. / Ita No.111/Pun/2017 यििाारण वषा / Assessment Year : 2007-08 Smt. Jayashree J Shirole, Jayvilla, 86/6B, Damle Path, Erandwane, अऩीऱाथी/Appellant Pune – 411004 …. Pan: Acmps4316B Vs.

section 50C of the Act and he re-computed the income from long term capital gains on account of 1/3rd

DEEPARAJE J. SHIROLE,,PUNE vs. INCOME TAX OFFICER,,

In the result, all the appeals of assessee are partly allowed

Bench: Ms. Sushma Chowla, Jm आयकर अपीऱ सं. / Ita No.111/Pun/2017 यििाारण वषा / Assessment Year : 2007-08 Smt. Jayashree J Shirole, Jayvilla, 86/6B, Damle Path, Erandwane, अऩीऱाथी/Appellant Pune – 411004 …. Pan: Acmps4316B Vs.

section 50C of the Act and he re-computed the income from long term capital gains on account of 1/3rd

KARIMKHAN SHAHNOORKHAN PATEL,,AURANGABAD vs. INCOME-TAX OFFICER,,

In the result, the appeal of assessee is partly allowed

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

Capital Gain and, further erred in applying the provisions of section 50C of the Income Tax Act, 1961 by disregarding

MADHAV BHARGAV CHITALE,,RATNAGIRI vs. INCOME-TAX OFFICER, WARD - 3,, RATNAGIRI

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

Bench: Ms. Sushma Chowla, Jm

capital gain in the hands of assessee and applicability of the provisions of section 50C of the Act. 4. Briefly

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

section 50C addition of long and short term capital gains amounting 2 to Rs.9,01,28,703/- and Rs.1,60,38,394/-; respectively

NARENDRA SHANTIKUMAR FIRODIA,AHMEDNAGAR vs. DEPUTY COMMISSIONER OF INCOME TAX, AHMEDNAGAR

Bench: Hon’Ble Shri Ss Viswanethra Ravi & Shri G. D. Padmahshaliआयकर अपऩल सं. / Ita No. 494/Pun/2020 निर्धारण वर्ा / Assessment Year : 2014-15 Shri Narendra Shantikumar Firodia, 5 Shobha Sadan, Aurangabad Road, Dsp Chowk, Ahmednagar – 414 002 Pan :Aabpf6158K . . . . . . . अपऩलधथी / Appellant बनाम / V/S. Dy. Commissioner Of Income Tax, Ahmednagar. . . . . . . . प्रत्यथी / Respondent द्वारा / Appearances Assessee By : Shri C. H. Naniwadekar Revenue By : Shri Ramnath Murkunde सपिवधई की तधरऩख / Date Of Conclusive Hearing : 13/10/2022 घोर्णध की तधरऩख / Date Of Pronouncement : 09/12/2022 आदेश / Order Per G. D. Padmahshali, Am; The Present Appeal Is Assailed Against The Order Of Commissioner Of Income Tax (Appeals)-2, Pune [For Short “Cit(A)”] Dt. 20/03/2020 Passed U/S 250 Of The Income-Tax Act, 1961 [For Short “The Act”] Upholding The Order Of Assessment Dt. 28/12/2016 Passed U/S 143(3) Of The Act By Asstt. Commissioner Of Income Tax, Ahmednagar Circle, Ahmednagar [For Short “Ao”] For The Assessment Year [For Short “Ay”] 2014-15. Itat-Pune Page 1 Of 8

Capital Gains in the hands of the seller u/s 48 of the Act. Before us, the case sought to be made out by the assessee is that Section 50C

SATISH ZUMBERLAL FIRODIA,,AHMEDNAGAR vs. INCOME TAX OFFICER,, AHMEDNAGAR

In the result, the appeal is partly allowed for statistical

Bench: Shri R.S. Syalआयकर अपील सं. / Ita No.669/Pun/2017 "नधा"रण वष" / Assessment Year : 2011-12

capital gain by taking stamp value as the full value of consideration as per section 50C of the Act at Rs.1.64

KALU NAMDEO NANDGUDE,,PUNE vs. INCOME-TAX OFFICER,,

In the result, appeal of assessee is partly allowed

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

section 50C and determined the value of property at Rs.2,71,57,500/- based on Government valuation for stamp purposes. The Assessing Officer computed assessee‟s share at Rs.82,11.000/-. After allowing the benefit of indexed cost of acquisition, the Assessing Officer determined Long Term Capital Gain

ANIL MURLIDHAR DESHMUKH,,NASHIK vs. INCOME-TAX OFFICER, WARD - 3(2),, NASHIK

In the result, appeal of the assessee is dismissed

Bench: Shri R.S. Syal

section 50C, which is a deeming provision and provides for substituting the sale consideration with the stamp value or the value as determined by the DVO, as the case may be, as the full value of consideration for the purpose of calculating capital gains

VILAS DASHRATH BALWADKAR,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -2,, PUNE

Bench: Shri S.S. Godara & Dr. Dipak P. Ripoteनिर्धारण वषा / Assessment Year : 2014-15 Acit, Circle-2, Vs. Vilas Dashrath Balwadkar Pune House No.329, Near Laxmi Mata Temple, Balewadi, Pune-411045 Pan: Apppb1117B Appellant Respondent निर्धारण वषा / Assessment Year : 2014-15 Vilas Dashrath Balwadkar Vs. Acit, House No.329, Near Laxmi Circle-2, Mata Temple, Balewadi, Pune Pune-411045 Pan: Apppb1117B Appellant Respondent निर्धारण वषा / Assessment Year : 2014-15 Prakash Dashrath Balwadkar Vs. Acit, House No.329, Near Laxmi Circle-2, Mata Temple, Balewadi, Pune Pune-411045 Pan: Apppb1116A Appellant Respondent निर्धारण वषा / Assessment Year : 2014-15 Dashrath Kondiba Balwadkar Vs. Acit, House No.329, Near Laxmi Circle-2, Mata Temple, Balewadi, Pune Pune-411045 Pan: Aqapb5784C Appellant Respondent

section 50C(3) to recompute the income from long-term capital gains by taking the sale value at Rs. 1.99 crore