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 2010-11 103,40,00,000/- 115,63,94,491/- 2011-12 1,50,00,000/- 1,67,75

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.

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 2010-11 103,40,00,000/- 115,63,94,491/- 2011-12 1,50,00,000/- 1,67,75

SANGEETA BASAVRAJ MANGRULE,,AURANGABAD vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 2,, AURANGABAD

Appeal is dismissed in above terms

section 68 is called for. Since the assessee has placed the contract note, payment through cheques identifying the company whose shares were transacted, the genuineness of claim of long term capital gain should not have been doubted. We do not find merit in these contentions of the assessee in the light of the facts that there is prevalent practice

POONAWALLA SHARES & SECURITIES PVT.LTD,PUNE vs. ASSISTANT COMMISSIONER OF WEALTH-TAX, CIRCLE-4, PUNE

Appeal is partly allowed in above terms

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपीलसं. / Ita No.380/Pun/2020 िनधा"रण वष" / Assessment Year : 2016-17 Poonawalla Shares & Securities The Assistant Pvt. Ltd., Vs Commissioner Of Income 16-B,/1, Sarosh Bhavan, Tax, Dr.Ambedkar Road, Circle-4, Pune. Pune – 411001 Pan: Aaacp 6087 H Appellant/ Assessee Respondent /Revenue Assessee By Shri Percy Pardiwala – Ar Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 08/07/2022 Date Of Pronouncement 29/07/2022 आदेश/ Order Per S.S.Godara, Jm: This Assessee’S Appeal For Assessment Year 2016-17 Is Directed Against The Commissioner Of Income Tax(Appeals)-3, Pune’S Order Dated 11.12.2019 Passed In Case No.Pn/Cit(A)-3/Cir 4/193/2018-19/428, In Proceedings U/S.143(3) Of The Income Tax Act, 1961 [In Short “The Act”].

capital gains' were neither intrinsically nor congenitally of income character. 13. It is submitted that the judgement of the Gujarat High Court in the case of Kishorebhai (supra), on which the AO places reliance simply relied on Harprasad (supra) and decided the issue in the department’s favour. It neither considered the judgement of the Calcutta High Court

GANPAT MUKUNDRAO MURKUTE,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am

capital gain disclosed by the appellant. d. The addition to the total income of the appellant is made only on assumption and presumption without pointing out any material or corroborative evidence. 3. The Learned CIT(Appeals), Pune has erred in law and on facts in confirming the addition by forming an incorrect opinion on following facts : a. That the appellant

ITO WARD 9(4),, PUNE vs. SH. MAHENDRA R. VITKAR, PUNE

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am

capital gain disclosed by the appellant. d. The addition to the total income of the appellant is made only on assumption and presumption without pointing out any material or corroborative evidence. 3. The Learned CIT(Appeals), Pune has erred in law and on facts in confirming the addition by forming an incorrect opinion on following facts : a. That the appellant

SH. MAHENDRA R. VITKAR,PUNE vs. ITO, WARD 10(2),, PUNE

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am

capital gain disclosed by the appellant. d. The addition to the total income of the appellant is made only on assumption and presumption without pointing out any material or corroborative evidence. 3. The Learned CIT(Appeals), Pune has erred in law and on facts in confirming the addition by forming an incorrect opinion on following facts : a. That the appellant

VASANT SHIVRAM MADHAVI,PANVEL vs. ITO WARD - 5, PANVEL

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2015-16

Section 45 (5A) provides as follows: In case of an assessee being INDIVIDUAL/HINDU UNDIVIDED FAMILY who enters into a specified agreement for development of a Project, the capital gain arising from such Transfer shall be chargeable Contd..3 to Income Tax as income of the previous year in which the Certificate of completion for the whole or part

ADVIK HI TECH PVT LTD,PUNE vs. DY.COMM.OF INCOME TAX, CIRCLE 8, PUNE, AKURDI PUNE

In the result, the cross appeal filed by the Revenue in ITA

Bench: Shri R. K. Panda & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.1158/Pun/2023 िनधा"रण वष" / Assessment Year : 2020-21 Advik Hi Tech Pvt. Ltd., Vs. Dcit, Circle-8, Pune. Gat No.357, Plot No.99, Village- Kharabwadi, Tal.- Khed, Chakan- 410501. Pan : Aacca3106E Appellant Respondent आयकर अपील सं. / Ita No.1330/Pun/2023 िनधा"रण वष" / Assessment Year : 2020-21 Dcit, Circle-8, Pune. Vs. Advik Hi Tech Pvt. Ltd., Gat No.357, Plot No.99, Village- Kharabwadi, Tal.- Khed, Chakan- 410501. Pan : Aacca3106E Appellant Respondent Assessee By : Shri Sharad A. Shah & Shri Rohit S. Tapadiya Revenue By : Shri Amol Khairnar Date Of Hearing : 21.11.2024 Date Of Pronouncement : 18.02.2025 आदेश / Order Per Vinay Bhamore, Jm: These Cross Appeals Filed By The Assessee As Well As By The Revenue Are Directed Against The Order Dated 16.10.2023 Passed By Ld.Cit(A)/Nfac For The Assessment Year 2020-21 Respectively.

capital gain as per rule 115 5 ITA No.1158/PUN/2023 [A] ITA No.1330/PUN/2023 [R] 4.2 On without prejudice basis, The Ld AO and Ld CIT(A) ought not to have been taxed the amount as income which was contingent in the nature as on the last date of the Balance Sheet. 5. The appellant craves its right

SHRI TUSHAR JAGMOHAN KAMTHE,PUNE vs. ITO WARD 14(4), PUNE

In the result, appeal of the assessee is Partly Allowed

Bench: Shri S.S.Viswanethra Raviand Dr. Dipak P. Ripote. आयकरअपीलसं. / Ita No.56/Pun/2020 िनधा"रणवष" / Assessment Year : 2013-14 Shri Tushar Jagmohan Kamthe, The Income Tax Officer, Shop No.6, Shiv Complex, V Ward-14(4), Pune. Kondhwa, Pune – 411048. S Pan: Amepk 2042 C Appellant/ Assessee Respondent /Revenue Assessee By Shri Pramod Shingte – Ar Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 28/10/2022 Date Of Pronouncement 01/11/2022 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)-9, Pune Dated 15.10.2019For The A.Y. 2013-14Under Section 250 Of The Income Tax Act, 1961(In Short “The Act”). The Assessee Has Raised The Following Grounds Of Appeal: “1. On The Facts & In Circumstances Of The Case & In Law The Learned A.O. Erred In Not Treating The Land As Agriculture Land By Disregarding Appellant’S Contention & Thereby Further Erred In Denying Exemption Claimed U/S 54B For Sum Of Rs.55,46,892/-. Your Appellant Prays For Appropriate Relief.” 2. Brief Facts Of The Case Are That The Assessee Sold A Land Along His Family Members Admeasuring 80 H.75R Situated At Yewlewadi, Tal.

75[(1)] 76[Subject to the provisions of sub-section (2), where the capital gain arises] from the transfer of a capital

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-8, PUNE, PUNE vs. ADVIK HI-TECH PVT. LTD., PUNE

In the result, the cross appeal filed by the Revenue in ITA\nNo

capital gain as per rule 115\n\n4.2 On without prejudice basis, The Ld AO and Ld CIT(A)\nought not to have been taxed the amount as income which\nwas contingent in the nature as on the last date of the\nBalance Sheet.\n\n5. The appellant craves its right to add to or alter the Grounds of\nAppeal

AMIT BHASKARRAO SANAP,,AURANGABAD vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE -3, , AURANGABAD

In the result, appeal of the Assessee is Dismissed

Bench: Shri Partha Sarathi Chaudhury & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.78/Pun/2019 िनधा"रण वष" / Assessment Year : 2015-16 Amit Bhaskarrao Sanap, The Assistant A-2, N-4, Cidco, Aurangabad, Vs Commissioner Of Income Maharashtra – 431001. Tax, Circle-3, Aurangabad. Pan: Auips 4177 L Appellant/ Assessee Respondent /Revenue Assessee By None. Revenue By Shri S P Walimbe & Shri Arvind Desai – Dr Date Of Hearing 25/07/2022 Date Of Pronouncement 19/10/2022 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)-2, Aurangabad, Dated 13.11.2018 For The A.Y. 2015-16. The Assessee Has Raised The Following Grounds Of Appeal: “1. The Order Of The Learned Commissioner (A), Aurangabad Confirming The Addition Of Rs.1,93.17.241/- Made By The A.O. In Computing The Income U/S 56 Instead Of Exempt U S. 10(38) Of The Act Of The Appellant Is Contrary To Law & Facts Of The Case.

gain is subjected to a 'nil' or nominal rate of tax. The advantage for manipulative taxpayer is that he can launder such sale receipts through payment of no lax." ITA No.78/PUN/2019 for A.Y. 2015-16 Amit Bhaskarrao Sanap Vs. ACIT, Circle-3, (A) SEBI has recently barred more than 250 entities, including individuals and companies, from the securities market

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

capital gain of the appellant from Rs.11.20 lakhs to Rs.1.61 Crores. On appeal the Commissioner (Appeals) dismissed the appeal of the assessee. On second appeal, the Tribunal held that in view of section 55A(a), it was not permissible for the Assessing Officer to make a reference to the Departmental Valuation Officer for the purpose of valuation, as the value

PRAKASH 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

capital gain of the appellant from Rs.11.20 lakhs to Rs.1.61 Crores. On appeal the Commissioner (Appeals) dismissed the appeal of the assessee. On second appeal, the Tribunal held that in view of section 55A(a), it was not permissible for the Assessing Officer to make a reference to the Departmental Valuation Officer for the purpose of valuation, as the value

DASHRATH KONDIBA 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

capital gain of the appellant from Rs.11.20 lakhs to Rs.1.61 Crores. On appeal the Commissioner (Appeals) dismissed the appeal of the assessee. On second appeal, the Tribunal held that in view of section 55A(a), it was not permissible for the Assessing Officer to make a reference to the Departmental Valuation Officer for the purpose of valuation, as the value

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

capital gain of the appellant from Rs.11.20 lakhs to Rs.1.61 Crores. On appeal the Commissioner (Appeals) dismissed the appeal of the assessee. On second appeal, the Tribunal held that in view of section 55A(a), it was not permissible for the Assessing Officer to make a reference to the Departmental Valuation Officer for the purpose of valuation, as the value

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

section 69 to treat the source of investment as the income of the assessee if the explanation offered by the assessee is not found satisfactory and the said discretion has to be exercised keeping in view the facts and circumstances of the particular case. vi) In this case, the full amount of sales proceeds are fully accounted for as above

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 48 of the IT Act, Chargeability of capital gains was based on full value of consideration received/accruing as a result of transfer. The assessee has not brought on record about the instance of cost and date of acquisition. In the absence of such requisite details, such deductions are not ascertainable and hence not considered. The 5 ITA No.607/PUN/2024

APPASAHEB BBAURAO LONKAR,,PUNE vs. INCOME-TAX OFFICER, WARD - 4(4),, PUNE

In the result, the appeal of assessee is allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.888/Pun/2018 यििाारण वषा / Assessment Year : 2011-12 Appasaheb Baburao Lonkar 562/2, Aaryavart Society, Shivajinagar, अऩीऱाथी/Appellant Pune – 411005 …. Pan: Aagpl9688R Vs. The Income Tax Officer, …. प्रत्यथी / Respondent Ward 4(4) Pune

gain which arises from the transfer of a capital asset, which could be brought to tax under Section 45 read with Section 48 of the Income Tax Act. 13. The assessee in the affidavit explaining the delay in filing the appeal late before the Tribunal has also mentioned the factual aspects and the legal 9 Appasaheb Baburao Lonkar dispute