M/S. L.B. KUNJIR,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 7, PUNE, PUNE

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

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

69B and as per the provisions of section 115BBE(2) no deduction of the same could be allowed to the assessee. 3] The learned CIT(A) failed to appreciate that there was no bar in section 115BBE to allow deduction of the excess WIP declared in the course of survey in the earlier year and the assessee could claim

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-7, PUNE vs. LB KUNJIR, PUNE

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

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

69B and as per the provisions of section 115BBE(2) no deduction of the same could be allowed to the assessee. 3] The learned CIT(A) failed to appreciate that there was no bar in section 115BBE to allow deduction of the excess WIP declared in the course of survey in the earlier year and the assessee could claim

M/S. L.B. KUNJIR,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 7, PUNE, PUNE

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

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

69B and as per the provisions of section 115BBE(2) no deduction of the same could be allowed to the assessee. 3] The learned CIT(A) failed to appreciate that there was no bar in section 115BBE to allow deduction of the excess WIP declared in the course of survey in the earlier year and the assessee could claim

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

depreciated its market value. The Assessing Officer rejected the claim of assessee and applied the provision of section 50C(3) to recompute the income from long-term capital gains by taking the sale value at Rs. 1.99 crore and fair market value as on 1-4-1981 at Rs. 2.04 lakhs. On appeal, the Commissioner (Appeals) affirmed the order

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

depreciated its market value. The Assessing Officer rejected the claim of assessee and applied the provision of section 50C(3) to recompute the income from long-term capital gains by taking the sale value at Rs. 1.99 crore and fair market value as on 1-4-1981 at Rs. 2.04 lakhs. On appeal, the Commissioner (Appeals) affirmed the order

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

depreciated its market value. The Assessing Officer rejected the claim of assessee and applied the provision of section 50C(3) to recompute the income from long-term capital gains by taking the sale value at Rs. 1.99 crore and fair market value as on 1-4-1981 at Rs. 2.04 lakhs. On appeal, the Commissioner (Appeals) affirmed the order

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

depreciated its market value. The Assessing Officer rejected the claim of assessee and applied the provision of section 50C(3) to recompute the income from long-term capital gains by taking the sale value at Rs. 1.99 crore and fair market value as on 1-4-1981 at Rs. 2.04 lakhs. On appeal, the Commissioner (Appeals) affirmed the order

CYZA CHEM PVT.LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 1 (1),, PUNE

In the result, the appeal of the assessee is partly allowed

section 69B is squarely applicable. Accordingly, claim of set off of brought forward business loss (excluding depreciation loss) to the tune

ASSISTANT COMMISSIONER OF INCOME-TAX vs. M/S. GHATGE PATIL INDUSTRIES LTD.,, KOLHAPUR

In the result, all the 3 appeals of the assessee are allowed

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं आयकर अपील सं. / Ita Nos.1281 To 1284/Pun/2016 आयकर अपील सं आयकर अपील सं िनधा"रण वष" िनधा"रण वष" / Assessment Years: 2006-07 To 2009-10 िनधा"रण वष" िनधा"रण वष"

depreciation should have been allowed. The addition of Rs.4,29,120/- may kindly be deleted. 4. The appellant craves leave to add, alter, amend and modify any of the above grounds of appeal.” ITA Nos. 1070 to 1072/PUN/2016 Ghatge Patil Industries Limited 13. Regarding the issue relating to the DVOs-report linked addition, relevant facts are that the assessee constructed

GHATGE PATIL INDUSTRIES LTD. vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, all the 3 appeals of the assessee are allowed

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं आयकर अपील सं. / Ita Nos.1281 To 1284/Pun/2016 आयकर अपील सं आयकर अपील सं िनधा"रण वष" िनधा"रण वष" / Assessment Years: 2006-07 To 2009-10 िनधा"रण वष" िनधा"रण वष"

depreciation should have been allowed. The addition of Rs.4,29,120/- may kindly be deleted. 4. The appellant craves leave to add, alter, amend and modify any of the above grounds of appeal.” ITA Nos. 1070 to 1072/PUN/2016 Ghatge Patil Industries Limited 13. Regarding the issue relating to the DVOs-report linked addition, relevant facts are that the assessee constructed

ASSISTANT COMMISSIONER OF INCOME-TAX vs. M/S. GHATGE PATIL INDUSTRIES LTD.,, KOLHAPUR

In the result, all the 3 appeals of the assessee are allowed

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं आयकर अपील सं. / Ita Nos.1281 To 1284/Pun/2016 आयकर अपील सं आयकर अपील सं िनधा"रण वष" िनधा"रण वष" / Assessment Years: 2006-07 To 2009-10 िनधा"रण वष" िनधा"रण वष"

depreciation should have been allowed. The addition of Rs.4,29,120/- may kindly be deleted. 4. The appellant craves leave to add, alter, amend and modify any of the above grounds of appeal.” ITA Nos. 1070 to 1072/PUN/2016 Ghatge Patil Industries Limited 13. Regarding the issue relating to the DVOs-report linked addition, relevant facts are that the assessee constructed

ASSISTANT COMMISSIONER OF INCOME-TAX vs. M/S. GHATGE PATIL INDUSTRIES LTD.,, KOLHAPUR

In the result, all the 3 appeals of the assessee are allowed

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं आयकर अपील सं. / Ita Nos.1281 To 1284/Pun/2016 आयकर अपील सं आयकर अपील सं िनधा"रण वष" िनधा"रण वष" / Assessment Years: 2006-07 To 2009-10 िनधा"रण वष" िनधा"रण वष"

depreciation should have been allowed. The addition of Rs.4,29,120/- may kindly be deleted. 4. The appellant craves leave to add, alter, amend and modify any of the above grounds of appeal.” ITA Nos. 1070 to 1072/PUN/2016 Ghatge Patil Industries Limited 13. Regarding the issue relating to the DVOs-report linked addition, relevant facts are that the assessee constructed

GHATGE PATIL INDUSTRIES LTD. vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, all the 3 appeals of the assessee are allowed

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं आयकर अपील सं. / Ita Nos.1281 To 1284/Pun/2016 आयकर अपील सं आयकर अपील सं िनधा"रण वष" िनधा"रण वष" / Assessment Years: 2006-07 To 2009-10 िनधा"रण वष" िनधा"रण वष"

depreciation should have been allowed. The addition of Rs.4,29,120/- may kindly be deleted. 4. The appellant craves leave to add, alter, amend and modify any of the above grounds of appeal.” ITA Nos. 1070 to 1072/PUN/2016 Ghatge Patil Industries Limited 13. Regarding the issue relating to the DVOs-report linked addition, relevant facts are that the assessee constructed

ASSISTANT COMMISSIONER OF INCOME-TAX vs. M/S. GHATGE PATIL INDUSTRIES LTD.,, KOLHAPUR

In the result, all the 3 appeals of the assessee are allowed

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं आयकर अपील सं. / Ita Nos.1281 To 1284/Pun/2016 आयकर अपील सं आयकर अपील सं िनधा"रण वष" िनधा"रण वष" / Assessment Years: 2006-07 To 2009-10 िनधा"रण वष" िनधा"रण वष"

depreciation should have been allowed. The addition of Rs.4,29,120/- may kindly be deleted. 4. The appellant craves leave to add, alter, amend and modify any of the above grounds of appeal.” ITA Nos. 1070 to 1072/PUN/2016 Ghatge Patil Industries Limited 13. Regarding the issue relating to the DVOs-report linked addition, relevant facts are that the assessee constructed

GHATGE PATIL INDUSTRIES LTD. vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, all the 3 appeals of the assessee are allowed

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं आयकर अपील सं. / Ita Nos.1281 To 1284/Pun/2016 आयकर अपील सं आयकर अपील सं िनधा"रण वष" िनधा"रण वष" / Assessment Years: 2006-07 To 2009-10 िनधा"रण वष" िनधा"रण वष"

depreciation should have been allowed. The addition of Rs.4,29,120/- may kindly be deleted. 4. The appellant craves leave to add, alter, amend and modify any of the above grounds of appeal.” ITA Nos. 1070 to 1072/PUN/2016 Ghatge Patil Industries Limited 13. Regarding the issue relating to the DVOs-report linked addition, relevant facts are that the assessee constructed