INCOME TAX OFFICER, PUNE vs. SAGAR CONSTRUCTION COMPANY, PUNE

In the result, the appeal filed by the Revenue is dismissed and the CO filed by the assessee is allowed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2017-18

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

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

49,312/- shown by the assessee. Another contention of the assessee was\nthat the creditworthiness of Shri. Sachin Nahar cannot be questioned since he is a\nfinance broker and that the Assessing Officer has mentioned that the assessee has\nborrowed the amount from Shri. Sachin Nahar. The contention of the assessee is\nill-founded since Shri. Sachin Nahar has himself

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE -11,, PUNE vs. CAPGEMINI TECHNOLOGY SERVICES INDIA LIMITED , (FORMERLY IGATE GLOBAL SOLUTIONS LTD.),, PUNE

In the result, both the appeals are partly allowed

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

depreciation of the amalgamating company in relation to the income under the head “Profit and gains of business or profession”. It is not a panacea for all the tax related issues of amalgamation, so as to have application insofar as the other tax entitlements, privileges or benefits in the hands of the amalgamating company, are concerned. 14. Section 74 deals

CAPGEMINI TECHNOLOGY SERVICES INDIA LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 11,, PUNE

In the result, both the appeals are partly allowed

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

depreciation of the amalgamating company in relation to the income under the head “Profit and gains of business or profession”. It is not a panacea for all the tax related issues of amalgamation, so as to have application insofar as the other tax entitlements, privileges or benefits in the hands of the amalgamating company, are concerned. 14. Section 74 deals

BANK OF MAHARASHRA,PUNE vs. THE PR. COMMISSIONER OF INCOME TAX, PUNE, PUNE

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

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2018-19

iii. Business Purchase iv. Depreciation Claim v. Default in TDS vi. Default in TDS & Disallowance for such Default vii. Refund Claim viii. Business Loss ix. ICDS Compliance and Adjustment x. Disallowance u/s 40A(7) (Gratuity provision) xi. Expenses incurred for Earning Exempt Income xii. Excess Contribution to Provident Fund, Superannuation Fund or Gratuity Fund xiii. Capital Gains/Income on Sale

KUMAR URBAN DEVELOPMENT PVT. LTD (SUCCESSOR KUMAR HOUSING CORPORATION PVT LTD),PUNE vs. DCIT CIRCLE 14, PUNE

49,661/- in respect of an eligible project, the start of date of which is\n24.03.2014.\n6.7.11\nIf the revenue from these four projects were eligible for deduction\nu/s 80-IA(4)(iii), the appellant would have automatically claimed this deduction in\nthe ensuing year. Therefore, it is proven that the claim of deduction u/s 80-\nIA(4)(iii

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 has been allowed under this Act or under the Indian Income-tax Act, 1922 (11 of 1922), the provisions of sections 48 and 49 shall be subject to the following modifications :— (1) where the full value of the consideration received or accruing as a result of the transfer of the asset together with the full value of such consideration

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 has been allowed under this Act or under the Indian Income-tax Act, 1922 (11 of 1922), the provisions of sections 48 and 49 shall be subject to the following modifications :— (1) where the full value of the consideration received or accruing as a result of the transfer of the asset together with the full value of such consideration

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

DEPUTY COMMISSIONER OF INCOME TAX,, PUNE vs. MUKUND BHAVAN TRUST,, PUNE

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

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

49 to 53 of the paper book. A perusal of the trust deed shows that the trust was created in the year 1930 i.e. much prior to the enactment of Income Tax Act, 1962. Thus, the first condition to fall within the scope of proviso to section 13(1)(c)(ii) of the Act is satisfied. 8. As regards second

DY COMMISSIONER OF INCOME TAX CIRCLE 7 PUNE, PUNE vs. KUMAR HOUSING CORPORATION PRIVATE LIMITED, PUNE

In the result, both the appeals filed by the assessee are allowed and the appeal filed by the Revenue is dismissed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2013-14

49,661/- in respect of an eligible project, the start of date of which is 24.03.2014. 6.7.11 If the revenue from these four projects were eligible for deduction u/s 80-IA(4)(iii), the appellant would have automatically claimed this deduction in the ensuing year. Therefore, it is proven that the claim of deduction u/s 80- IA(4)(iii

KUMAR URBAN DEVELOPMENT PVT. LTD (SUCCESSOR KUMAR HOUSING CORPN. PVT LTD),PUNE vs. DCIT CIRCLE 14, PUNE

In the result, both the appeals filed by the assessee are allowed and the appeal filed by the Revenue is dismissed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2013-14

49,661/- in respect of an eligible project, the start of date of which is 24.03.2014. 6.7.11 If the revenue from these four projects were eligible for deduction u/s 80-IA(4)(iii), the appellant would have automatically claimed this deduction in the ensuing year. Therefore, it is proven that the claim of deduction u/s 80- IA(4)(iii

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)

depreciation on the goodwill arising out of purchase of business by the assessee from Royal Bank of Scotland. Assessment orders for A.Y. 2015-16 and 2016-17, are at Exhibit 19 and 20 (page 145 to 168 of the paperbook) 5 16. Given that substantial addition made during A.Y. 2014-15 was only resulting in deferment of taxes, the assessee

PUSPAK STEEL INDUSTRIES PRIVATE LIMITED,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-10, PUNE, PUNE

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

1. On the facts and circumstances prevailing in the case and as per the provisions and the scheme of the Act it be held that it be held that the disallowance made of Rs. 2,19,348/- u/s 14A r.w. rule 8D(2)(iii) of 2 the Income Tax Rules is not in accordance with provisions

JAWAHAR LAL NEHRU PORT TRUST,NAVI MUMBAI vs. ACIT PANVEL, PANVEL

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

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

49. The Ld. Counsel for the assessee on the other hand submitted that the assessee is a local authority within the meaning of Article 12 of the Constitution of India by virtue of section 3(31) of General Clauses Act, 1897 read with article 367 of the Constitution. The major ports were constituted by the Government of India under

DEPUTY COMMISSIONER OF INCOME-TAX vs. THE JAWAHARLAL NEHRU PORT TRUST,, RAIGAD

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

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

49. The Ld. Counsel for the assessee on the other hand submitted that the assessee is a local authority within the meaning of Article 12 of the Constitution of India by virtue of section 3(31) of General Clauses Act, 1897 read with article 367 of the Constitution. The major ports were constituted by the Government of India under

DEPUTY COMMISSIONER OF INCOME-TAX vs. THE JAWAHARLAL NEHRU PORT TRUST,, RAIGAD

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

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

49. The Ld. Counsel for the assessee on the other hand submitted that the assessee is a local authority within the meaning of Article 12 of the Constitution of India by virtue of section 3(31) of General Clauses Act, 1897 read with article 367 of the Constitution. The major ports were constituted by the Government of India under

JAWAHAR LAL NEHRU PORT TRUST,NAVI MUMBAI vs. ACIT PANVEL, PANVEL

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

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

49. The Ld. Counsel for the assessee on the other hand submitted that the assessee is a local authority within the meaning of Article 12 of the Constitution of India by virtue of section 3(31) of General Clauses Act, 1897 read with article 367 of the Constitution. The major ports were constituted by the Government of India under