SHRINIWAS ENGINEERING AUTO COMPONENTS PVT. LTD,PUNE vs. NATIONAL FACELESS APPEAL CENTRE, PUNE

In the result, ITA Nos. 154 to 156/PUN/2025 filed by the assessee are partly allowed for statistical purposes, ITA

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.154 To 156/Pun/2025 Assessment Years : 2016-17 To 2018-19

depreciation chart for Income Tax Purposes 1 2016-17 43.20 Cr. 44.57 Cr. 5,9,38 & 39 2 2017-18 59.64 Cr. 61.56 Cr. 5,9,55 & 56 3 2018-19 37.09 Cr. 37.09 Cr. 44, 46

SHRINIWAS ENGINEERING AUTO COMPONENTS PVT. LTD,PUNE vs. NATIONAL FACELESS APPEAL CENTRE, PUNE

In the result, ITA Nos. 154 to 156/PUN/2025 filed by the assessee are partly allowed for statistical purposes, ITA

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.154 To 156/Pun/2025 Assessment Years : 2016-17 To 2018-19

depreciation chart for Income Tax Purposes 1 2016-17 43.20 Cr. 44.57 Cr. 5,9,38 & 39 2 2017-18 59.64 Cr. 61.56 Cr. 5,9,55 & 56 3 2018-19 37.09 Cr. 37.09 Cr. 44, 46

DY. COMMISSIONER OF INCOME-TAX, CIRCLE-5, PUNE vs. SHRINIWAS ENGINEERING AUTO COMPONENTS PVT. LTD., PUNE

In the result, ITA Nos. 154 to 156/PUN/2025 filed by the assessee are partly allowed for statistical purposes, ITA

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.154 To 156/Pun/2025 Assessment Years : 2016-17 To 2018-19

depreciation chart for Income Tax Purposes 1 2016-17 43.20 Cr. 44.57 Cr. 5,9,38 & 39 2 2017-18 59.64 Cr. 61.56 Cr. 5,9,55 & 56 3 2018-19 37.09 Cr. 37.09 Cr. 44, 46

SHRINIWAS ENGINEERING AUTO COMPONENTS PVT. LTD,PUNE vs. ITO WARD6(1), PUNE

In the result, ITA Nos.154 to 156/PUN/2025 filed by the\nassessee are partly allowed for statistical purposes, ITA\nNo

46, 132,\n152 & 159\n4\n2019-20\n32.24 Cr.\n33.24 Cr.\n42,44,147,64\n& 170\n5\n2020-21\n43.41 Cr.\n43.41 Cr.\n6,10,72 & 73\n\n2.\nThe Ld. Departmental Representative (DR) has argued that the\nsubsidy received by the assessee from Government of Maharashtra\nunder the Package Scheme of Incentives (PSI) (2007) (Mega Project)\nis taxable

REXEL INDIA PRIVATE LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, PUNE

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

46, Sasoon Road,\nPune-411001\nMaharashtra\nPAN AAFCR6724C\nVs.\nDCIT, PUNE\nAppellant/Assessee\nRespondent/Revenue\nAssessee by\nDepartment by\nDate of hearing\nDate of Pronouncement\nShri Nikhil Pathak\nShri Mallikarjun Utture, CIT\n05/02/2025\n05/05/2025\nआदेश / ORDER\nPER MS. ASTHA CHANDRA, JM\nThe appeal filed by the assessee is directed against the order dated\n12.03.2024 of the Ld. Commissioner of Income Tax- Appeals

ACIT, PUNE vs. SHRINIWAS ENGINEERING AUTO COMPONENTS PRIVATE LIMITED, PUNE

In the result, ITA Nos.154 to 156/PUN/2025 filed by the\nassessee are partly allowed for statistical purposes, ITA\nNo

46, 132,\n152 & 159\n4\n2019-20\n32.24 Cr.\n33.24 Cr.\n42,44,147,64\n& 170\n5\n2020-21\n43.41 Cr.\n43.41 Cr.\n6,10,72 & 73\n2. The Ld. Departmental Representative (DR) has argued that the\nsubsidy received by the assessee from Government of Maharashtra\nunder the Package Scheme of Incentives (PSI) (2007) (Mega Project)\nis taxable

SHRINIWAS ENGINEERING AUTO COMPONENTS PVT. LTD,PUNE vs. ITO WARD 6(1), PUNE

In the result, ITA Nos.154 to 156/PUN/2025 filed by the\nassessee are partly allowed for statistical purposes, ITA\nNo

46, 132,\n152 & 159\n4\n2019-20\n32.24 Cr.\n33.24 Cr.\n42,44,147,64\n& 170\n5\n2020-21\n43.41 Cr.\n43.41 Cr.\n6,10,72 & 73\n2. The Ld. Departmental Representative (DR) has argued that the\nsubsidy received by the assessee from Government of Maharashtra\nunder the Package Scheme of Incentives (PSI) (2007) (Mega Project)\nis taxable

EATON TECHNOLOGIES PRIVATE LIMITED,PUNE vs. PRINCIPAL COMMISSIONER OF INCOME TAX, PUNE

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

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

Depreciation Claim iii. Deduction and deposit of TDS iv. Deduction under Chapter VIA v. Expenses incurred for earning exempt income vi. Tax deduction, TDS deposit and TDS statement filing vii. Deduction/Exemption u/s.10A/10AA viii. Income from house property ix. Reduction in profit due to ICDS x. International Transaction(s) xi. Loss from currency fluctuations 3. Statutory notices u/s.143(2)/142

M/S GERA DEVELOPMENTS PVT. LTD,PUNE vs. PCIT (CENTRAL), PUNE, PUNE

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

Bench: Dr.Manish Borad & Shri Vinay Bhamore

section 263 of the Income-tax Act empowers the Principal Commissioner of Income Tax (PCIT) to pass a revision order after examining only the record of the proceedings in which the order, which is subject matter of revision, has been passed. Thus the Principal Commissioner of Income Tax (PCIT) does not have the power/jurisdiction to revise the assessment order

DEPUTY COMMISSIONER OF INCOME-TAX CIRCLE -5, PUNE vs. SERUM INSTITUTE OF INDIA PVT LTD.,, PUNE

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

46,67,962/- on account of Deduction u/s 10AA on sale to UNICEF, since the said section does not speak about goods sold but talks about goods taken outside India. In the case, the goods (medicines) are sold in territory of India, although procured by UNICEF, therefore, the section u/s 10AA of the Income-tax Act, 1961 is not applicable

ASSISTANT COMMISSIONER OF INCOME TAX, KOLHPAUR vs. RBL BANK LTD, KOLHAPUR

In the result, the appeal of the Revenue is dismissed

Bench: SATBEER SINGH GODARA, JUDICIAL MEMBER, AND DR.DIPAK P. RIPOTE (Accountant Member)

46. Section 36(l)(viia) of the Act provides for deduction of provision for bad debts, while Section 36(1 )(vii) deals with deduction for bad debts actually written off. In the facts of the assessee, it has actually written off bad debts in relation to credit card business taken over by the assessee during the assessment year

JAIN IRRIGATION SYSTEMS LTD,,JALGAON vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 2,, JALGAON

Appeal is partly allowed in above terms

Bench: Shri S.S.Godara & Dr.Dipak P.Ripoteआयकरअपीलसं. / Ita No.227/Pun/2018 िनधा"रणवष" / Assessment Year : 2013-14 Jain Irrigation Systems Ltd., The Deputy Commissioner Of Jain Plastic Park, N.H No.6, Vs Income Tax, Circle-2, Jalgaon – 425001. . Jalgaon. Pan: Aaacj 7163 Q Appellant/ Assessee Respondent /Revenue Assessee By Shri Percy Pardiwala; Shri Prashant Maheshwari & Ms.Monicamulchandani – Ar’S Revenue By Shri B Koteswara Rao – Dr Date Of Hearing 23/09/2022 Date Of Pronouncement 22/12/2022 आदेश/ Order Per S.S.Godara, Jm: This Assessee’Sappeal For Assessment Year 2013-14Is Directed Against Thedeputy Commissioner Of Income Tax, Cricle-2, Jalgaon’S Assessment Order Dated 29.10.2017, Framed In Furtherance To The Dispute Resolution Panel-3, Mumbai (Drp)’S Direction Dated 25.09.2017 Passed In Objection No.78, In Proceedings U/S 143(3) R,.W.S 144C(5) Of The Income Tax Act, 1961 [In Short “The Act”].

depreciation claimed by the Appellant at the rate of 25% amounting ITA No.227/PUN/2018 for A.Y. 2013-14(A) Jain Irrigation Systems Ltd., to Rs.91,00,069/- onintangible assets of Rs. 3,64.00,278/- under section 40(a)(i) of the Act. 8. Solar Renewable Energy Incentive 8.1 On the facts and in the circumstances of the case

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

46,394/-. The same was revised on 29.03.20218 declaring total loss of Rs.968,30,88,739/-. The said return of income was selected for scrutiny assessment. The assessee company also reported the following international transactions in its Form No.3CEB :- C.O. No.14/PUN/2021 Sr. Nature of International Amount Most Method as No. Transaction (in INR) Appropriate per Form Method 3CEB 1. Purchase

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

46,394/-. The same was revised on 29.03.20218 declaring total loss of Rs.968,30,88,739/-. The said return of income was selected for scrutiny assessment. The assessee company also reported the following international transactions in its Form No.3CEB :- C.O. No.14/PUN/2021 Sr. Nature of International Amount Most Method as No. Transaction (in INR) Appropriate per Form Method 3CEB 1. Purchase

SAGAR BABANRAO AWATADE,NAVI MUMBAI vs. INCOME TAX OFFICER, WARD-1, PANVEL, PANVEL

Appeal is allowed

Bench: Shri Satbeer Singh Godaraआयकर अपील सं. /Ita No.79/Pun/2024 "नधा"रण वष" / Assessment Year : 2014-15

depreciation allowance or any other allow ance under this Act has been computed. (ca) where a return of income has not been furnished by the assessee or a return of income has been furnished by him and on the basis of information or 4 ITA.No.79/PUN/2024 Sagar Babanrao Awatade document received from the prescribed Income-tax authority, under sub- section

BANK OF MAHARASHTRA ,PUNE vs. ASST COMMISSIONER OF INCOME TAX, CIRCLE 1(1), PUNE, PUNE

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2016-17

46,000/-. 3) On the facts and the circumstances and in law, the ld CIT(A) erred in not complying with the provisions of section 251(1)(a) of the Act and send the matter back to the AO for verification on the issue of disallowance of write back provision for standard assets amounting to Rs.31

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, AURANGABAD, AURANGABAD vs. ENDURANCE TECHNOLOGIES LIMITED, AURANGABAD

In the result, all the appeals filed by the Revenue are dismissed

46 of the Paper Book. A perusal of the reply\ngiven DSIR clearly indicates that the assessee company was granted approval in\nForm 3CM for the concerned period. Therefore, we find merit in the argument of\nthe Ld. Counsel for the assessee that the weighted deduction was rightly allowed\nby the Ld. CIT(A) / NFAC.\n36.\nWe find the Pune

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, AURANGABAD, AURANGABAD vs. ENDURANCE TECHNOLIGIES LIMITED, AURANGABAD

In the result, all the appeals filed by the Revenue are dismissed

46 of the Paper Book. A perusal of the reply\ngiven DSIR clearly indicates that the assessee company was granted approval in\nForm 3CM for the concerned period. Therefore, we find merit in the argument of\nthe Ld. Counsel for the assessee that the weighted deduction was rightly allowed\nby the Ld. CIT(A) / NFAC.\n36.\nWe find the Pune