ASHOK DHANRAJ CHORDIA ,PUNE vs. PCIT, PUNE-1, PUNE

151 and 153 of the Act would be\nousted.\n66. In the present case, the re-assessment proceedings are initiated under Section\n147 of the Act not only on the basis of the material containing information that\nwas found during the search conducted in respect of Jain Brothers, but is also\nfounded on the basis of other information as obtained

MAHESH GOKULDAS FULWANI,AURANGABAD vs. ITO WARD 1(1) AURANGABAD, AURANGABAD

In the result, the appeal filed by the assessee is partly allowed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2017-18 Mahesh Gokuldas Fulwani Ito, Ward 1(1), Mahesh Traders C O Girls Fashion, Aurangabad Vs. 2/7/63, Tilak Path, Paithan Gate, Aurangabad- 431001 Pan: Aajpf4456C (Appellant) (Respondent) Assessee By : Shri Girish Ladda Department By : Shri Ramnath P Murkunde Date Of Hearing : 28-07-2025 Date Of Pronouncement : 30-07-2025 O R D E R

151, the competent authority for granting the approval for issue of notice u/s 148 of the Act is the Principal Chief Commissioner or Principal Director General or Chief Commissioner or Director General. Since the approval in the instant case has been granted by the PCIT instead of any of the above authorities, therefore, such approval being not in accordance with

DCIT CIRCLE 1 NASHIK, NASHIK vs. SHREE SAI PROPERTIES, NASHIK

In the result, appeal of the Revenue is dismissed

Bench: Dr. Manish Borad & Shri Vinay Bhamore

depreciation allowance or any other allowance or deduction for such assessment year and for which a prior notice under Section 148 would be required to be issued. Section 147 does not contemplate an eventuality which Section 153A or Section 153C contemplates, the basis of which is inter alia a search action under Section 132 being resorted as noted hereinabove. Thus

M/S KARIA BUILDERS ,PUNE vs. ITO WARD 14(3), PUNE

In the result, the appeal filed by the assessee is allowed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2017-18 M/S. Karia Builders Ito, Ward 14(3), Pune 402, Konark Indrayu, Kondhwa, Vs. Pune – 411048 Pan: Aadfk5220B (Appellant) (Respondent) Assessee By : Shri Sanket M Joshi Department By : Shri Ramnath P Murkunde Date Of Hearing : 17-07-2025 Date Of Pronouncement : 23-07-2025 O R D E R

151 of the Act from the PCIT-4, Pune. He submitted that since the present notice u/s 148 of the Act was issued after a lapse of three years from the end of the assessment year 2017-18, therefore, the competent authority for granting approval is the Principal Chief Commissioner or Principal Director General or Chief Commissioner or Director General

GOPAL EXTRUSIONS PVT LTD,,JALGAON vs. INCOME-TAX OFFICER, WARD - 1(2),, JALGAON

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita. No.1633/Pun/2017 Assessment Year : 2008-09

depreciation allowance or any other allowance, as the case may be, for the assessment year concerned thereafter in this section and in section 148 to 153 referred to as the relevant assessment year. Provided that where an assessment under sub-section (3) of section 143 or this section has been made for the relevant 9 Gopal Extrusions Pvt. Ltd. assessment

RAJDEEP BUILDCON PRIVAT LIMITED, AHMEDNAGAR,AHMEDNAGAR vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1(2), PUNE, PUNE

In the result, the appeal filed by the assessee in ITA

Bench: SHRI R. K. PANDA (Vice President), SHRI VINAY BHAMORE (Judicial Member)

151 and 153. Under section 1534(1), the Assessing Officer is empowered to issue notices to the assexsee searched for a period of six years in order to assess the income on the basis of material found during the course of search. The second proviso to section 153A(1) provides that the assessment or reassessment, if any, relating

RAJDEEP BUILDCON PVT LTD, AHMEDNAGAR,AHMEDNAGAR vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1(2), PUNE, PUNE

In the result, the appeal filed by the assessee in ITA

Bench: SHRI R. K. PANDA (Vice President), SHRI VINAY BHAMORE (Judicial Member)

151 and 153. Under section 1534(1), the Assessing Officer is empowered to issue notices to the assexsee searched for a period of six years in order to assess the income on the basis of material found during the course of search. The second proviso to section 153A(1) provides that the assessment or reassessment, if any, relating

RAJDEEP BUILDCOM PRIVATE LIMITED,AHMEDNAGAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 1(2), PUNE, PUNE

In the result, the appeal filed by the assessee in ITA

Bench: SHRI R. K. PANDA (Vice President), SHRI VINAY BHAMORE (Judicial Member)

151 and 153. Under section 1534(1), the Assessing Officer is empowered to issue notices to the assexsee searched for a period of six years in order to assess the income on the basis of material found during the course of search. The second proviso to section 153A(1) provides that the assessment or reassessment, if any, relating

JAIBHAGWAN BANARASIDAS JINDAL,JALNA vs. THE INCOME TAX OFFICER, WARD-1, JALNA

In the result, the appeal filed by the assessee is allowed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2016-17

151(2) r.w.s.149(1)(a) of the Income tax Act 1961.” 5. During the course of assessment proceedings the Assessing Officer noted that a search and survey operation u/s 132/133 of the Income Tax Act, 1961 was conducted on 16.05 2018 by the office of the DDIT (Inv.), Unit 3-(3), Delhi on Dutta and Tyagi group and during

M/S ACCORD MEDIPLUS PVT LTD,PUNE vs. INCOME TAX OFFICER, WARD-1(1), PUNE, PUNE

Bench: Dr.Manish Borad & Shri Vinay Bhamore

151, reopening of assessment was justified -Held, yes [Paras 2 and 3] In the case Export Credit Guarantee Corporation of India Ltd. v Additional Commissioner of Income-tax* DR. D.Y. CHANDRACHUD AND A.A. SAYED, JJ. WRIT PETITION NO. 502 OF 2012 JANUARY 10/11, 2013, HIGH COURT OF BOMBAY, [2013] 30 taxmann.com 211 (Bombay), it is observed and decision delivered

M/S ACCORD MEDIPLUS PVT LTD,PUNE vs. INCOME TAX OFFICER, WARD-1(1), PUNE, PUNE

Bench: Dr.Manish Borad & Shri Vinay Bhamore

151, reopening of assessment was justified -Held, yes [Paras 2 and 3] In the case Export Credit Guarantee Corporation of India Ltd. v Additional Commissioner of Income-tax* DR. D.Y. CHANDRACHUD AND A.A. SAYED, JJ. WRIT PETITION NO. 502 OF 2012 JANUARY 10/11, 2013, HIGH COURT OF BOMBAY, [2013] 30 taxmann.com 211 (Bombay), it is observed and decision delivered

M/S ACCORD MEDIPLUS PVT LTD,PUNE vs. INCOME TAX OFFICER, WARD-1(1), PUNE, PUNE

Bench: Dr.Manish Borad & Shri Vinay Bhamore

151, reopening of assessment was justified -Held, yes [Paras 2 and 3] In the case Export Credit Guarantee Corporation of India Ltd. v Additional Commissioner of Income-tax* DR. D.Y. CHANDRACHUD AND A.A. SAYED, JJ. WRIT PETITION NO. 502 OF 2012 JANUARY 10/11, 2013, HIGH COURT OF BOMBAY, [2013] 30 taxmann.com 211 (Bombay), it is observed and decision delivered

M/S ACCORD MEDIPLUS PVT LTD,PUNE vs. INCOME TAX OFFICER, WARD-1(1), PUNE, PUNE

Bench: Dr.Manish Borad & Shri Vinay Bhamore

151, reopening of assessment was justified -Held, yes [Paras 2 and 3] In the case Export Credit Guarantee Corporation of India Ltd. v Additional Commissioner of Income-tax* DR. D.Y. CHANDRACHUD AND A.A. SAYED, JJ. WRIT PETITION NO. 502 OF 2012 JANUARY 10/11, 2013, HIGH COURT OF BOMBAY, [2013] 30 taxmann.com 211 (Bombay), it is observed and decision delivered

KAY POWER AND PAPER LIMITED,SATARA vs. INCOME TAX OFFICER, WARD-2, SATARA

In the result, the appeal filed by the assessee is allowed

Bench: Shri R. K. Panda & Shri Vinay Bhamore

depreciation is of Rs.31,61,21,110/-. It was submitted that the net profit earned on derivative transactions referred to in the notice u/s 148 of the Act has been properly accounted for in the Profit and Loss Account and there is no attempt to avoid income tax. It was accordingly requested to drop the proceedings initiated

KAY POWER AND PAPER LIMITED,SATARA vs. INCOME TAX OFFICER, WARD-2, SATARA

In the result, the appeal filed by the assessee is allowed

Bench: Shri R. K. Panda & Shri Vinay Bhamore

depreciation is of Rs.31,61,21,110/-. It was submitted that the net profit earned on derivative transactions referred to in the notice u/s 148 of the Act has been properly accounted for in the Profit and Loss Account and there is no attempt to avoid income tax. It was accordingly requested to drop the proceedings initiated

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), PUNE vs. M/S. BILCARE LIMITED, PUNE

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.273/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 Dcit, Central Circle-2(2), Vs. M/S. Bilcare Limited, Pune. 601, Icc Trade Tower, Pune- 411016. Pan : Aabcb2242F Appellant Respondent आयकर अपीऱ सं. / Ita No.334/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 M/S. Bilcare Limited, Vs. Dcit, Central Circle- 6Th Floor, B Wing, Icc 2(2), Pune. Trade Tower, Senapati Bapat Road, Pune- 411006. Pan : Aabcb2242F Appellant Respondent

depreciation without such reduction. The CBDT vide Circular No.14/1995 had clarified that while computing the taxable income of an assessee should be computed in accordance with the provisions of law, even a fresh claim made during the course of assessment proceedings in the absence of any statutory bar should be considered by the Assessing Officer. The Hon‟ble High Court

M/S. BILCARE LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), PUNE

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.273/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 Dcit, Central Circle-2(2), Vs. M/S. Bilcare Limited, Pune. 601, Icc Trade Tower, Pune- 411016. Pan : Aabcb2242F Appellant Respondent आयकर अपीऱ सं. / Ita No.334/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 M/S. Bilcare Limited, Vs. Dcit, Central Circle- 6Th Floor, B Wing, Icc 2(2), Pune. Trade Tower, Senapati Bapat Road, Pune- 411006. Pan : Aabcb2242F Appellant Respondent

depreciation without such reduction. The CBDT vide Circular No.14/1995 had clarified that while computing the taxable income of an assessee should be computed in accordance with the provisions of law, even a fresh claim made during the course of assessment proceedings in the absence of any statutory bar should be considered by the Assessing Officer. The Hon‟ble High Court

A.C.I.T ,WARDHA CIRCLE , WARDHA , WARDHA vs. M/S KAPIL SOLVEX PVT .LTD , YAVATMAL

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2009-10

section that the reasons which induced the CIT to accord sanction to proceed u/s 34 must also be communicated to the assessee and "the requirement regarding communication of the reasons to the Commissioner is, in our opinion, intended to safeguard the Interests of the assessee against any hasty action on the part of the ITO u/s 34 or an action

SACHIN RAMDAS MOHITE,,SATARA vs. PR. COMMISSIONER OF INCOME-TAX-3,, PUNE

Appeal is allowed in above terms

Bench: Shri S.S. Godara, Jm & Shri G.D. Padmahshali, Am

depreciation and investment allowance as referred to in sections 32 and 32A respectively, Commissioner was justified in invoking revision u/s 263. 4.5. Similarly, Hon'ble High Court of Allahabad had held in the case of Swarup Vegetable Products Vs. CIT (54 taxmann.com 175) that it is beyond dispute that u/ s 263, the Commissioner does have power to set aside