SUPERFINE METALS P LTD,AHMEDNAGAR vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE 1(2), , PUNE

Bench: Shri S. S. Godara & Shri G. D. Padmahshaliआयकर अपीऱ सं. / Ita Nos. 631 To 634/Pun/2021 निर्धारण वर्ा / Assessment Years : 2010-2011 To 2013-14 Superfine Metals Private Ltd., E29/E39, Supa Midc, Tal. Parner, Ahmednagar – 414302 . . . . . . . अपीऱधर्थी / Appellant Pan:Aakcs6038H बनाम / V/S. Asst. Commissioner Of Income Tax, . . . . . . . . प्रत्यर्थी / Respondent Central Circle 1(2), Pune द्वारा/ Appearances Assessee By : Shri M. K. Kulkarni Revenue By : Shri M. G. Jasnani सुनवाई की तारीख / Date Of Conclusive Hearing : 28/09/2022 घोषणा की तारीख / Date Of Pronouncement : 07/10/2022 आदेश / Order Per G. D. Padmahshali, Am; Present Bunch Of Five Appeals Of The Assessee Is Assailed Against Separate Orders Of Commissioner Of Income Tax (Appeals), Pune-11 [For Short “Cit(A)”] All Dt. 16/11/2021 Passed U/S 250 Of The Income-Tax Act, 1961 [For Short “The Act”], Which Arose Out Of Rectification Orders Dt. 20/02/2021 Passed U/S 154 By The Asst. Commissioner Of Income Tax, Central Circle 1(2), Pune [For Short “Ao”] For Assessment Years [For Short “Ay”] 2010-11 To 2013-14. Itat-Pune Page 1 Of 12

survey action u/s 133A of the Act on the assessee was carried out on 07/02/2020 & 08/02/2020 wherein a statement of one of the director of the ITAT-Pune Page 5 of 12 Superfine Metals Pvt. Ltd. ITA Nos.631 to 634/PUN/2021 AYs: 2010-11 to 2013-14 company was recorded with respect to excess depreciation

SUPERFINE METALS P LTD,AHMEDNAGAR vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE 1(2), , PUNE

Bench: Shri S. S. Godara & Shri G. D. Padmahshaliआयकर अपीऱ सं. / Ita Nos. 631 To 634/Pun/2021 निर्धारण वर्ा / Assessment Years : 2010-2011 To 2013-14 Superfine Metals Private Ltd., E29/E39, Supa Midc, Tal. Parner, Ahmednagar – 414302 . . . . . . . अपीऱधर्थी / Appellant Pan:Aakcs6038H बनाम / V/S. Asst. Commissioner Of Income Tax, . . . . . . . . प्रत्यर्थी / Respondent Central Circle 1(2), Pune द्वारा/ Appearances Assessee By : Shri M. K. Kulkarni Revenue By : Shri M. G. Jasnani सुनवाई की तारीख / Date Of Conclusive Hearing : 28/09/2022 घोषणा की तारीख / Date Of Pronouncement : 07/10/2022 आदेश / Order Per G. D. Padmahshali, Am; Present Bunch Of Five Appeals Of The Assessee Is Assailed Against Separate Orders Of Commissioner Of Income Tax (Appeals), Pune-11 [For Short “Cit(A)”] All Dt. 16/11/2021 Passed U/S 250 Of The Income-Tax Act, 1961 [For Short “The Act”], Which Arose Out Of Rectification Orders Dt. 20/02/2021 Passed U/S 154 By The Asst. Commissioner Of Income Tax, Central Circle 1(2), Pune [For Short “Ao”] For Assessment Years [For Short “Ay”] 2010-11 To 2013-14. Itat-Pune Page 1 Of 12

survey action u/s 133A of the Act on the assessee was carried out on 07/02/2020 & 08/02/2020 wherein a statement of one of the director of the ITAT-Pune Page 5 of 12 Superfine Metals Pvt. Ltd. ITA Nos.631 to 634/PUN/2021 AYs: 2010-11 to 2013-14 company was recorded with respect to excess depreciation

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

133A is taxable u/s 69B of the Act and in view of provisions of section 115BBE(2), no deduction of the said amount can be allowed to the assessee in any of the asst. year. 2] The learned CIT(A) erred in holding that the excess work in progress of Rs.3,11,76,525/- declared during the course of survey

DCIT, PUNE vs. L B 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

133A is taxable u/s 69B of the Act and in view of provisions of section 115BBE(2), no deduction of the said amount can be allowed to the assessee in any of the asst. year. 2] The learned CIT(A) erred in holding that the excess work in progress of Rs.3,11,76,525/- declared during the course of survey

DCIT CIRCLE 7, BODHI TOWER SALISBURY PARK vs. L B 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

133A is taxable u/s 69B of the Act and in view of provisions of section 115BBE(2), no deduction of the said amount can be allowed to the assessee in any of the asst. year. 2] The learned CIT(A) erred in holding that the excess work in progress of Rs.3,11,76,525/- declared during the course of survey

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

133A is taxable u/s 69B of the Act and in view of provisions of section 115BBE(2), no deduction of the said amount can be allowed to the assessee in any of the asst. year. 2] The learned CIT(A) erred in holding that the excess work in progress of Rs.3,11,76,525/- declared during the course of survey

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

133A is taxable u/s 69B of the Act and in view of provisions of section 115BBE(2), no deduction of the said amount can be allowed to the assessee in any of the asst. year. 2] The learned CIT(A) erred in holding that the excess work in progress of Rs.3,11,76,525/- declared during the course of survey

ASSISTANT COMMISSIONER OF INCOME TAX vs. M/S. RDS CONSTRUCTION CO.,, KOLHAPUR

In the result, the appeal of the Revenue in ITA No

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita Nos.2731 To 2733/Pun/2016 िनधा"रण वष" / Assessment Years : 2008-09, 2010-11 & 2012-13 Acit, Circle-2, .......अपीलाथ" / Appellant Kolhapur. बनाम / V/S. M/S. Rds Construction Co., 233/3, Malati Towers, Tarabai Park, Kolhapur-416003. Pan : Aabfr4457M ……""यथ" / Respondent Revenue By : Shri Sanjeev Ghai Assessee By : Shri Nikhil Pathak सुनवाई क" तारीख / Date Of Hearing : 11.03.2019 घोषणा क" तारीख / Date Of Pronouncement : 08.05.2019 आदेश / Order Per D. Karunakara Rao, Am: There Are Three Appeals Under Consideration. Ita Nos.2731 & 2732/Pun/2016 Filed By The Revenue Are Against The Common Orders Of Cit(A)-2, Kolhapur Dated 26.09.2016 U/S 271(1)(C) Of The Act For The Assessment Years 2008-09 & 2010-11 Respectively.

133A of the Act........ Therefore, penalty proceedings u/s 274 r.w.s. 271(1)(c) is being initiated separately.” The satisfaction is common in both the years. 6. In the penalty order for both the years, the Assessing Officer levied the penalty of Rs.68,60,020/- for the assessment year 2008-09 and Rs.50,03,858/- for the assessment year

ASSISTANT COMMISSIONER OF INCOME TAX vs. M/S. RDS CONSTRUCTION CO.,, KOLHAPUR

In the result, the appeal of the Revenue in ITA No

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita Nos.2731 To 2733/Pun/2016 िनधा"रण वष" / Assessment Years : 2008-09, 2010-11 & 2012-13 Acit, Circle-2, .......अपीलाथ" / Appellant Kolhapur. बनाम / V/S. M/S. Rds Construction Co., 233/3, Malati Towers, Tarabai Park, Kolhapur-416003. Pan : Aabfr4457M ……""यथ" / Respondent Revenue By : Shri Sanjeev Ghai Assessee By : Shri Nikhil Pathak सुनवाई क" तारीख / Date Of Hearing : 11.03.2019 घोषणा क" तारीख / Date Of Pronouncement : 08.05.2019 आदेश / Order Per D. Karunakara Rao, Am: There Are Three Appeals Under Consideration. Ita Nos.2731 & 2732/Pun/2016 Filed By The Revenue Are Against The Common Orders Of Cit(A)-2, Kolhapur Dated 26.09.2016 U/S 271(1)(C) Of The Act For The Assessment Years 2008-09 & 2010-11 Respectively.

133A of the Act........ Therefore, penalty proceedings u/s 274 r.w.s. 271(1)(c) is being initiated separately.” The satisfaction is common in both the years. 6. In the penalty order for both the years, the Assessing Officer levied the penalty of Rs.68,60,020/- for the assessment year 2008-09 and Rs.50,03,858/- for the assessment year

ASSISTANT COMMISSIONER OF INCOME TAX vs. M/S. RDS CONSTRUCTION CO.,, KOLHAPUR

In the result, the appeal of the Revenue in ITA No

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita Nos.2731 To 2733/Pun/2016 िनधा"रण वष" / Assessment Years : 2008-09, 2010-11 & 2012-13 Acit, Circle-2, .......अपीलाथ" / Appellant Kolhapur. बनाम / V/S. M/S. Rds Construction Co., 233/3, Malati Towers, Tarabai Park, Kolhapur-416003. Pan : Aabfr4457M ……""यथ" / Respondent Revenue By : Shri Sanjeev Ghai Assessee By : Shri Nikhil Pathak सुनवाई क" तारीख / Date Of Hearing : 11.03.2019 घोषणा क" तारीख / Date Of Pronouncement : 08.05.2019 आदेश / Order Per D. Karunakara Rao, Am: There Are Three Appeals Under Consideration. Ita Nos.2731 & 2732/Pun/2016 Filed By The Revenue Are Against The Common Orders Of Cit(A)-2, Kolhapur Dated 26.09.2016 U/S 271(1)(C) Of The Act For The Assessment Years 2008-09 & 2010-11 Respectively.

133A of the Act........ Therefore, penalty proceedings u/s 274 r.w.s. 271(1)(c) is being initiated separately.” The satisfaction is common in both the years. 6. In the penalty order for both the years, the Assessing Officer levied the penalty of Rs.68,60,020/- for the assessment year 2008-09 and Rs.50,03,858/- for the assessment year

DY. CIT, CIRCLE-1, JALGAON vs. S.K. TRANSLINE PVT. LTD.,, JALGAON

In the result, the cross objections are partly allowed

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

u/s. 133A of the Income- tax Act was carried out in the premises of Company, on the basis of that the Company has shown additional income of Rs.25,03,303/- by way of return freight received. This has been accounted in the books of account from 01/04/2008 to the date of survey.” 9 ITA No. 903/PUN/2013 & CO No. 55/PUN/2014

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

133A was carried out on M/s.P.H. Infrastructure (a group concern of the respondent). 1.3 Originally, assessment u/s 143(3) was completed on 16.12.2016, accepting the returned income. Thereafter, the assessment was reopened by issue of notice u/s 148 and completed by framing order u/s 143(3) r.w.s 147 on 29.12.2017, making addition of Rs.8

SINDHUDURG ZILLA TOURIST SEVA SAHAKARI SANSTHA MARYADIT,,SINDHUDURG vs. INCOME-TAX OFFICER, WARD - 2,, KUDAL

In the result, all the five appeals of the assessee are allowed for statistical purposes

Bench: Shri D. Karunakara Rao, Am Sl.

depreciation, ignoring the fact that premises of assessee was surveyed u/s 133A and it was duly noted and physically verified

SINDHUDURG ZILLA TOURIST SEVA SAHAKARI SANSTHA MARYADIT,,SINDHUDURG vs. INCOME-TAX OFFICER, WARD - 2,, KUDAL

In the result, all the five appeals of the assessee are allowed for statistical purposes

Bench: Shri D. Karunakara Rao, Am Sl.

depreciation, ignoring the fact that premises of assessee was surveyed u/s 133A and it was duly noted and physically verified

SINDHUDURG ZILLA TOURIST SEVA SAHAKARI SANSTHA MARYADIT,SINDHUDURG vs. INCOME TAX OFFICER, WARD-2 , KUDAL

In the result, all the five appeals of the assessee are allowed for statistical purposes

Bench: Shri D. Karunakara Rao, Am Sl.

depreciation, ignoring the fact that premises of assessee was surveyed u/s 133A and it was duly noted and physically verified

SINDHUDURG ZILLA TOURIST SEVA SAHAKARI SANSTHA MARYADIT,,SINDHUDURG vs. INCOME-TAX OFFICER, WARD - 2,, KUDAL

In the result, all the five appeals of the assessee are allowed for statistical purposes

Bench: Shri D. Karunakara Rao, Am Sl.

depreciation, ignoring the fact that premises of assessee was surveyed u/s 133A and it was duly noted and physically verified

SINDHUDURG ZILLA TOURIST SEVA SAHAKARI SANSTHA MARYADIT,,SINDHUDURG vs. INCOME-TAX OFFICER, WARD - 2,, KUDAL

In the result, all the five appeals of the assessee are allowed for statistical purposes

Bench: Shri D. Karunakara Rao, Am Sl.

depreciation, ignoring the fact that premises of assessee was surveyed u/s 133A and it was duly noted and physically verified

M/S GIRIRAJ ENTERPRISES,PUNE vs. DCIT, CENTRAL CIRCLE 1(1), PUNE, PUNE

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

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

133A of the IT Act, 1961 in the case of M/s. JM Financial Asset Management Limited (JM Financial). In the course of survey, it was found that JM 7 IT(SS)A Nos.23 to 25/PUN/2024 Balanced Fund- Dividend Option Regular scheme (the "Scheme") of JM Financial had manipulated accounting methodology so as to artificially inflate the distributable surplus

DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE -1, NASHIK vs. M/S. JAORA NAYAGAON TOLL ROAD COMPANY PVT. LTD, INDOR

Appeal is dismissed in above terms

Bench: Shri S.S.Godara, Jm & Shri Dr. Dipak P. Ripote, Am आयकर अपीऱ सं. / Ita No.431/Pun/2020 ननधधारण वषा / Assessment Year : 2010-11 .......अपऩलधथी / Appellant Dcit, Central Circle -1,Nashik

survey action u/s 133A of the Act on the appellant, assessment u/s 143(3) rws 153C of the Act was completed on 28.03.2013 determining total loss of Rs. 6,04,34,120/- by making disallowance of depreciation