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.

1) In disposing of an appeal, the [* * *] [Commissioner (Appeals)] shall have the following powers— (a ) in an appeal against an order of assessment, he may confirm, reduce, enhance or annul the assessment [* * *]; [( aa) in an appeal against the order of assessment in respect of which the proceeding before the Settlement Commission abates under section 245HA, he may, after taking into

M/S. ANGELICA PROPERTIES PRIVATE LTD.,,PUNE vs. DEPUTY COMMISSIONER INCOME-TAX,,

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.

1) In disposing of an appeal, the [* * *] [Commissioner (Appeals)] shall have the following powers— (a ) in an appeal against an order of assessment, he may confirm, reduce, enhance or annul the assessment [* * *]; [( aa) in an appeal against the order of assessment in respect of which the proceeding before the Settlement Commission abates under section 245HA, he may, after taking into

MANGILAL LAKAHJI CHOWDHARY,,PUNE vs. INCOME-TAX OFFICER, WARD - 3(1),, PUNE

Appeal is partly allowed in above terms

Bench: Shri S.S.Godara & Dr.Dipak P.Ripoteआयकरअपीलसं. / Ita No.2791/Pun/2017 िनधा"रण वष" / Assessment Year: 2013-14

1) of 54F reads as under: "Provided that nothing contained in this sub-section shall apply where- The assessee- (a) (i) Owns more than one residential house, other than the new asset, on the date of transfer of the original asset; or (ii) Purchases any residential house, other than the new asset, within a period of one year after

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

section 54(1) of the Act, according to which the construction should be completed within three years from the date of transfer of original asset. He noted that in this case, the original asset was transferred on 26.07.2017 and therefore, the date of completion of the construction should be on or before 26.07.2019. Since the construction was not completed before

NAWAB PASHASAHEB JAMADAR,LATUR vs. THE INCOME TAX OFFICER, WARD-1, LATUR

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

Bench: Shri R.S. Syalआयकर अपीऱ सं. /Ita No.731/Pun/2023 निर्धारण वषा / Assessment Year : 2014-15 Nawab Pashasaheb Jamadar, Vs. Ito, Ward-1, Global Panacea Hospital, Latur Gross Golden Jubilee, B-Block, Mahaeboob Nagar, Ambajogai Road, Latur – 413 512, Maharashtra Pan : Aaopj3902E Appellant Respondent

1) and (2) as short term capital gain. Once the computation is done u/s.50, the matter of computation of capital gain till that stage ends. However, any further provision, which is otherwise applicable in the case of 7 Nawab Pashasaheb Jamadar normal computation, does not cease to operate. To put it simply, if an assessee has made investments

MR POPATRAO DASHRATHRAO SURYAWANSHI,PUNE vs. INCOME TAX OFFICER, WARD-7(4), PUNE, PUNE

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2017-18 Mr. Popatrao Dashrathrao Suryawanshi Ito, Ward 7(4), Pune S.No.38, Tingre Nagar, Havaldar Mala, Vs. Vishrantwadi, Pune – 411015 Pan: Adhps2643F (Appellant) (Respondent) Assessee By : Shri Suhas Bora Department By : Shri Manish Mehta, Addl.Cit Date Of Hearing : 19-01-2026 Date Of Pronouncement : 21-01-2026 O R D E R

section 45(2) is inconsequential. 18. The Ld. Counsel for the assessee also filed a copy of the occupancy certificate dated 23.12.2014 and the following chart disclosing the calculation of correct capital gain on sale of flats: 11 Particulars FY 16-17 AY 17-18 (a) Sale Consideration 3,67,25,561 (b) Total FMV as on date

SAFIQUE SADRUDDIN BALSARRA,,PUNE vs. INCOME-TAX OFFICER, WARD - 6 (3),, PUNE

In the result, the appeal of assessee is allowed

Bench: Shri S.S. Viswanethra Ravi

1) of the Act. The contention of ld. DR is that the assessee has to deposit the said capital gains in the capital gain account before filing the return of income failing which provisions under sub-section (4) of section 54F

AMOL VASANT DESHMUKH,PUNE vs. INCOME TAX OFFICER, WARD 6(2), PUNE

In the result, all the appeals (ITA Nos

Bench: Dr. Manish Borad & Shri Vinay Bhamore

capital gain is ₹ 1,64,17,638/- and the same is required to be offered to tax in the year when consideration is received. Ld.AO further observed that out of 5 ITA.Nos.1837-1839/PUN./2025 (Amol Vasant Deshmukh & Ors.) LTCG of ₹1,64,17,638, assessee has declared LTCG

ROHINI MARUTI DESHMUKH,PUNE vs. INCOME TAX OFFICER, WARD 6(2), PUNE

In the result, all the appeals (ITA Nos

Bench: Dr. Manish Borad & Shri Vinay Bhamore

capital gain is ₹ 1,64,17,638/- and the same is required to be offered to tax in the year when consideration is received. Ld.AO further observed that out of 5 ITA.Nos.1837-1839/PUN./2025 (Amol Vasant Deshmukh & Ors.) LTCG of ₹1,64,17,638, assessee has declared LTCG

TULSABAI VASANT DESHMUKH,PUNE vs. INCOME TAX OFFICER, WARD 6(2), PUNE

In the result, all the appeals (ITA Nos

Bench: Dr. Manish Borad & Shri Vinay Bhamore

capital gain is ₹ 1,64,17,638/- and the same is required to be offered to tax in the year when consideration is received. Ld.AO further observed that out of 5 ITA.Nos.1837-1839/PUN./2025 (Amol Vasant Deshmukh & Ors.) LTCG of ₹1,64,17,638, assessee has declared LTCG

MR GANESH RAMBHAV PAKHE,AURANGABAD vs. INCOME TAX OFFICER, WARD-2(3), AURANGABAD, AURANGABAD

In the result, the appeal is allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita No.1097/Pun/2023 "नधा"रण वष" / Assessment Year : 2015-16

54F of the Act. The Assessing Officer (AO) completed the assessment at a total income of Rs.1,51,53,060/- by adopting income as per the return of income filed at Rs.5,01,460/-. The ld. CIT(A) did not allow the assessee’s claim of exemption u/s.54F on sale of the property and also confirmed the disallowance

SHIVAJI RAMDAS SAKHARE,PUNE vs. INCOME-TAX OFFICER, WARD - 2(4), PUNE

Appeal is dismissed in above terms

Bench: Shri S.S.Godara, Jm & Shri Dr. Dipak P. Ripote, Am आयकर अपीऱ सं. / Ita No.1567/Pun/2017 ननधधारण वषा / Assessment Year : 2012-13 Shivaji Ramdas Sakhare, Survey No.87/1/1(P), Sakhare Wasti, Hinjewadi, Mulshi, Pune- 412 106. .......अपऩलधथी / Appellant Pan : Awnps8232K बनधम / V/S. ……प्रत्यथी / Respondent Ito, 2(4), Pune Assessee By : None Revenue By : Shri S. P. Walimbe

54F (1) Subject to the provisions of sub-section (4), where, in the case of an assessee being an individual or a Hindu undivided family], the capital gain

DASHRATH V.WAGASKAR,,NASHIK vs. INCOME TAX OFFICER,, NASHIK

In the result, appeal of the assessee is Partly Allowed

Bench: Shri Partha Sarathi Chaudhury, Hon’Ble Jm & Dr. Dipak P. Ripote, Hon’Ble Am आयकरअपीलसं. / Ita No.270/Pun/2017 िनधा"रणवष" / Assessment Year : 2013-14 Asha Bhausahebthube, The Income Tax Officer, (Legal Heir Of Late Vs Ward-1(4), Nashik. Mr.Dashrathv.Wagaskar), Gat No.63, Wagaskar House, Anandvalli, Gangapur Road, Nashik – 422 013. Pan: Aampw 5276 G Appellant/ Assessee Respondent /Revenue Assessee By Shri Kishore B Phadke– Ar Revenue By Shri S.P.Walimbe– Dr Date Of Hearing 14/03/2022 Date Of Pronouncement 11/05/2022

54F. (1) [Subject to the provisions of sub-section (4), where, in the case of an assessee being an individual or a Hindu undivided family], the capital gain

SONALI KIRAN SHIVARKAR,PUNE vs. DCIT- CIRCLE-7, PUNE

In the result, appeal of the Assessee is Allowed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.1881/Pun/2019 िनधा"रण वष" / Assessment Year : 2014-15 Sonali Kiran Shiv Arkar, The Deputy L/H Of Late Kiran Sopanrao Vs Commissioner Of Income Shivarkar, A-204, Ganga Tax, Cirlce-7, Pune. Savera, Shivarkar Road, Wanawadi, Pune – 411040. Pan: Aprps 3509 Q Appellant/ Assessee Respondent / Revenue Assessee By Shri Nikhil Pathak – Ar Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 21/07/2022 Date Of Pronouncement 18/10/2022 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)-8, Pune, Dated 11.09.2019 For The A.Y.2014-15. The Assessee Has Raised The Following Grounds Of Appeal: “1. The Learned Commissioner Of Income Tax Erred In Law & Without Considering Facts & Submission Made, Claimed U/S 54F Amounting To Rs.24,72,272/- In Respect Of Investment In Second Residential House. The Appellant Prays That Deduction U/S 54F Be Allowed In Respect Of Second Residential House.” 2. Brief Facts Of The Case Are That Assessee Filed Original Return On 18/11/2014 Declaring Total Income Of Rs.2,41,550/-. The Assessee Then Filed Revised Return On 27/03/2015 Declaring Total Income Of

54F. (1) [Subject to the provisions of sub-section (4), where, in the case of an assessee being an individual or a Hindu undivided family], the capital gain

JOHN THOMAS,,PUNE vs. INCOME-TAX OFFICER, WARD - 13 (5),, PUNE

In the result, the appeal of the assessee is allowed

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhury

section 54F is an independent provision for granting exemption in respect of capital gain of transfer of certain capital asset. The assessee in this case satisfies the condition provided under the said provision. Therefore, placing reliance on the aforestated decision and the facts of this case we do not find any reason why the assessee should not be granted exemption

NINAD ARUN DIWAKAR,NASHIK vs. ITO, ACIT CIRCLE 1, NASHIK, NASHIK

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

Bench: Ms.Astha Chandra & Dr.Dipak P. Ripoteआयकर अपऩल सं. / Ita No.1318/Pun/2025 निर्धारण वषा / Assessment Year: 2022-23 Ninad Arun Diwakar, V The Income Tax Officer, Plot No.F-98, Midc, S Acti Circle-1, Nashik. Satpur Nashik – 422007. Pan: Ahepd7516M Appellant/ Assessee Respondent / Revenue Assessee By Ca Sarang Gudhate Revenue By Shri Ajay Kumar Keshari Date Of Hearing 15/09/2025 Date Of Pronouncement 17/09/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeal)[Nfac], Delhi Passed Under Section 250 Of The Income Tax Act, 1961 Dated 24.03.2025 For The A.Y.2022-23 Emanating From The Assessment Order Under Section 143(3) Of The Income Tax Act, 1961, Dated 05.03.2024. The Assessee Has Raised The Following Grounds Of Appeal :

54F (4) against the Long Term Capital Gain. ii) That Ld. Assessing officer erred in law and on facts by holding that the Appellant has failed to discharge the onus of proving the genuineness of the deposit of amount in Capital Gain deposit scheme on account of non-confirmation from the State Bank of India in response to notice issued

DILIP B. MUNDADA,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 6,, PUNE

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकरअपीलसं. / Ita No.1764/Pun/2019 िनधा"रणवष" /Assessment Year: 2013-14 Dilip B. Mundada, The Dy.Cit, Circle-6, 129, Nana Peth, Near Ram Vs Pune. Mandir, Pune – 411002. Pan: Aawpm 9135 E Appellant/ Assessee Respondent/ Revenue Assessee By Shri Pramod S Shingte – Ar Revenue By Shri Arvind Desai – Dr Date Of Hearing 21/06/2022 Date Of Pronouncement 15/07/2022 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)-8, Pune’S, Order Dated 24.09.2019 For The Assessment Year 2013-14. The Appellant Assessee Has Raised The Following Grounds Of Appeal: “1. On The Facts & In The Circumstances Of The Case & In Law The Lower Authorities Has Erred Not Granting The Exemption U/S 54F Under Income Tax Act, 1961 For Rs.24,69,227/- Without Appreciating The Fact That Your Appellant Has Purchased Two Adjacent Flats Which Were Used As A Single Unit & Therefore Appellant Is Entitled For Exemption As Claimed. We Pray Accordingly. The Appellant Craves For To Leave, Add, Alter, Modify, Delete Above Ground Of Appeal Before Or At The Time Hearing, In The Interest Of Natural Justice.”

Section 54F as applicable for the relevant Assessment Year is reproduced here as under : [Capital gain on transfer of certain capital assets not to be charged in case of investment in residential house. ITA No.1764/PUN/2019 for A.Y.2013-14 Dilip B. Mundada Vs. Dy.CIT, Circle-6, Pune (A) 54F. (1

JOINT COMMISSIONER OF INCOME-TAX (OSD),CIRCLE -7,, PUNE vs. SANTOSH SURESH GUPTA,, PUNE

In the result, the appeal is dismissed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.06/Pun/2018 निर्धारण वषा / Assessment Year : 2013-14 Jcit (Osd), Vs. Santosh Suresh Gupta Circle – 7, Pune Flat No.B-4, 105, Agrasen Society, Koregaon Park, Pune – 411001 Pan: Acnpg6836H Appellant Respondent

54F. (1) Subject to the provisions of sub-section (4), where, in the case of an assessee being an individual or a Hindu undivided family, the capital gain

NANDLAL DULICHAND GUPTA,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 8,, PUNE

Appeals are partly allowed for statistical purposes in above terms

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

section 54F(1) deduction can indeed cover multiple units in same or different towers or residential blocks; as the case may be. This is indeed coupled with the fact that the assessee’s corresponding sale agreements had also purchased the right of passage of lobby or carpet area(s) intervening the foregoing twin flats nos.3123 and 3124 (supra