M/S. ANGELICA PROPERTIES PRIVATE LTD.,,PUNE vs. DEPUTY COMMISSIONER INCOME-TAX,,

The appeals of the assessee are partly allowed

Bench: Shri S.S.Viswanethra Ravi, Hon’Ble Jm & Dr. Dipak P. Ripote, Hon’Ble Am आयकरअपीलसं. / Ita No: 403/Pun/2015 िनधा"रणवष" / Assessment Year : 2010-11 Vason Engineers Ltd., Theadditional Commissioner Of (Formerly Angelica Properties Pvt. Vs Income Tax, Range1, Pune. Ltd.,) 301, Phoenix, Opp.Residency Club, Bund Garden Road, Pune – 411037. Pan: Aafca 8644 J Appellant/ Assessee Respondent /Revenue आयकरअपीलसं. / Ita No: 1738/Pun/2016 िनधा"रणवष" / Assessment Year : 2011-12 Angelica Properties Pvt. Ltd., The Deputy Commissioner Of Opp. Grand Hyatt Hotel, Vs Income Tax, Circle-1(1), Pune. Vimannagar, Puune – 411 014. Pan: Aafca 8644 J Appellant/ Assessee Respondent /Revenue Assessee By Shri Dharmesh Shah – Ar Revenue By Shri Naveen Gupta – Dr Date Of Hearing 24/06/2022 Date Of Pronouncement 22/09/2022 आदेश/ Order Per Dr. Dipak P. Ripote, Am: These Two Appeals Filed By The Assessee Are Directed Against The Separate Orders Of Ld.Commissioner Of Income Tax(Appeals)-1, Pune Dated 30.01.2015 & 09.06.2016 For The Assessment Years 2010-11 & 2011-12 Respectively. 2. The Assessee In Ita No.403/Pun/2015 For The A.Y.2010-11 Has Raised Following Grounds Of Appeal: “1. The Ld. Cit(A) Has Erred In Law & In Facts Enhancing The Income From Sale Of ‘Matrix It Building’ By Changing The Head Of Income From Capital Gains To Business Income Without Complying With The Principles Of Natural Justice & Without Giving Any Opportunity Of Hearing.

capital gains of Rs 20,36,683/- as shown in the return of income ought to have been accepted by Assessing Officer. f. The Ld. CIT(A) has erred in law and in facts in disallowing

DY COMMISSIONER OF INCOME TAX CIRCLE 7 PUNE, PUNE vs. KRUTI LALITKUMAR JAIN, PUNE

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

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

capital gain of Rs.6,34,01,864/-. The assessee had claimed exemption u/s 54F of the Act which was disallowed

SANGEETA BASAVRAJ MANGRULE,,AURANGABAD vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 2,, AURANGABAD

Appeal is dismissed in above terms

capital gain in the shares of Pine Animation Ltd. The AO noticed that the share price of Pine Animation Ltd. was manipulated by the various operators and the variation in its price between May, 2013 to Jan, 2015 was depicted on page 6 of the assessment order. The AO analyzed the details of balance sheet and profit & loss account

ASSISTANT COMMISSIONER OF INCOME TAX, JALGAON vs. SIDHARTH RATANLAL BAFNA, JALGAON

capital gain of Rs.1,44,35,387/- claimed as exempt u/s 10(38) of the Act\nafter considering the reply of the assessee to the specific queries put by him. We\nfind on the basis of information obtained from the Investigation wing that the\nassessee has sold his investments in penny stock company NITSL, reopened the\nassessment after recording

ASSISTANT COMMISSIONER OF INCOME TAX, JALGAON vs. SIDHARTH RATANLAL BAFNA, JALGAON

capital\ngain to which the assessee has replied and thereafter the Assessing Officer has\npassed the order u/s 143(3) r.w.s.153B of the Act accepting such exempt long term\ncapital gain. Therefore, the assessment in our opinion could not have been\nreopened u/s 148 of the Act for the same transaction in absence of any fresh\ntangible material

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

disallowing appellant's claim of exemption under section 10(38) in respect of long term capital gain earned on the sale

MANGILAL LAKAHJI CHOWDHARY,,PUNE vs. INCOME-TAX OFFICER, WARD - 3(1),, PUNE

Appeal is partly allowed in above terms

Bench: Shri S.S.Godara & Dr.Dipak P.Ripoteआयकरअपीलसं. / Ita No.2791/Pun/2017 िनधा"रण वष" / Assessment Year: 2013-14

disallowance of Rs.1,20,000/- in these peculiar circumstances. 4. The assessee does not press for his third substantive ground of challenging section 41(1) - cession of liability addition of Rs.50,000/- representing deposits received from M/s. Shubha Associates keeping in mind the smallness of the amount. Rejected accordingly. 5. Lastly comes the long term capital gains

INCOME TAX OFFICER, PUNE vs. PRAKASH RAMKRISHNA POPHALE, PUNE

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2017-18

disallowed the same.  The conditions to be satisfied to claim exemption under section 54 are as under: i) the asset transferred is a residential house; ii) the asset transferred is a long-term capital asset and hence there is a long term capital gain

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. OMPRAKASH ASARAM MANTRI, JALNA

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

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

disallowance of capital gain u/s 10(38) of the Act and Rs.3,20,614/- on account of unexplained expenditure u/s 69C of the Act. 8. Before

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. ASHISH OMPRAKASH MANTRI, JALNA

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

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

disallowance of capital gain u/s 10(38) of the Act and Rs.3,20,614/- on account of unexplained expenditure u/s 69C of the Act. 8. Before

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. PRAMILA OMPRAKASH MANTRI, JALNA

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

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

disallowance of capital gain u/s 10(38) of the Act and Rs.3,20,614/- on account of unexplained expenditure u/s 69C of the Act. 8. Before

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. OMPRAKASH ASARAM MANTRI, JALNA

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

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

disallowance of capital gain u/s 10(38) of the Act and Rs.3,20,614/- on account of unexplained expenditure u/s 69C of the Act. 8. Before

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. ATUL OMPRAKASH MANTRI, JALNA

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

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

disallowance of capital gain u/s 10(38) of the Act and Rs.3,20,614/- on account of unexplained expenditure u/s 69C of the Act. 8. Before

INCOME TAX OFFICER, WARD -1, JALNA, JALNA vs. PRAMILA OMPRAKASH MANTRI, JALNA

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

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

disallowance of capital gain u/s 10(38) of the Act and Rs.3,20,614/- on account of unexplained expenditure u/s 69C of the Act. 8. Before

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. ATUL OMPRAKASH MANTRI, JALNA

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

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

disallowance of capital gain u/s 10(38) of the Act and Rs.3,20,614/- on account of unexplained expenditure u/s 69C of the Act. 8. Before

POONAWALLA SHARES & SECURITIES PVT.LTD,PUNE vs. ASSISTANT COMMISSIONER OF WEALTH-TAX, CIRCLE-4, PUNE

Appeal is partly allowed in above terms

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपीलसं. / Ita No.380/Pun/2020 िनधा"रण वष" / Assessment Year : 2016-17 Poonawalla Shares & Securities The Assistant Pvt. Ltd., Vs Commissioner Of Income 16-B,/1, Sarosh Bhavan, Tax, Dr.Ambedkar Road, Circle-4, Pune. Pune – 411001 Pan: Aaacp 6087 H Appellant/ Assessee Respondent /Revenue Assessee By Shri Percy Pardiwala – Ar Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 08/07/2022 Date Of Pronouncement 29/07/2022 आदेश/ Order Per S.S.Godara, Jm: This Assessee’S Appeal For Assessment Year 2016-17 Is Directed Against The Commissioner Of Income Tax(Appeals)-3, Pune’S Order Dated 11.12.2019 Passed In Case No.Pn/Cit(A)-3/Cir 4/193/2018-19/428, In Proceedings U/S.143(3) Of The Income Tax Act, 1961 [In Short “The Act”].

capital gain of Rs. 1.03 crores. The Assessing Officer disputed such claim and after hearing the assessee disallowed the same

DEPUTU COMMISSIONER OF INCOME-TAX vs. ENDURANCE TECHNOLOGIES PVT. LTD.,, AURANGABAD

Appeals are dismissed in above terms

Bench: Shri S.S.Godara, Jm & Shri Dr. Dipak P. Ripote, Am आयकर अपीऱ सं. / Ita No. 989/Pn/2015 ननधधारण वषा / Assessment Year : 2010-11

disallowed carry forward of loss in para-3.3 stating as under – ―3.3 During the year assessee company has claimed carried forward of capital loss at Rs. 43,72,19,086/-. However, on going through the computation of such capital loss, it is noticed that out of net capital gain

DEPUTY COMMISSSIONER OF INCOME TAX, CIRCLE -1,, AURANGABAD vs. ENDURANCE TECHNOLOGIES PVT. LTD,, AURANGABAD

Appeals are dismissed in above terms

Bench: Shri S.S.Godara, Jm & Shri Dr. Dipak P. Ripote, Am आयकर अपीऱ सं. / Ita No. 989/Pn/2015 ननधधारण वषा / Assessment Year : 2010-11

disallowed carry forward of loss in para-3.3 stating as under – ―3.3 During the year assessee company has claimed carried forward of capital loss at Rs. 43,72,19,086/-. However, on going through the computation of such capital loss, it is noticed that out of net capital gain