ABIL REALTY PVT. LTD.,PUNE vs. ITO, WARD 1(1), PUNE, PUNE

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2016-17 Abil Realty Pvt. Ltd. Ito, Ward 1(1), Pune Abil House, 2 Ganesh Khind Road, Vs. Range Hill Corner, Pune – 411007 Pan: Aaica8531I (Appellant) (Respondent) Assessee By : Shri Sanket M Joshi & Mandar Joshi Department By : Shri Amol Khairnar Cit-Dr Date Of Hearing : 08-01-2025 Date Of Pronouncement : 19-03-2025 O R D E R

deemed dividend u/s 2(22)(e) of the Act. We find the CBDT Instruction No.20/2015, dated 29.12.2015 reads as under: ―INSTRUCTION NO.20/2015 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, the 29th of December, 2015 Subject: Scrutiny Assessments-some important issues and scope of scrutiny in cases selected through Computer

ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE - 1,, AURANGABAD vs. M/S. M.B. PATIL CONSTRUCTION LTD,, AURANGABAD

In the result, the cross appeal filed by the Revenue in ITA

Bench: SHRI MANISH BORAD (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)

Disallowance of other expenses of Rs.35,00,000/-, (e) Deemed dividend u/s 2(22)(e) of Rs.49,59,14,779/- and (f) Disallowance

M/S. M.B.PATIL CONSTRUCTIONS LTD,,AURANGABAD vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE - 1,, AURANGABAD

In the result, the cross appeal filed by the Revenue in ITA

Bench: SHRI MANISH BORAD (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)

Disallowance of other expenses of Rs.35,00,000/-, (e) Deemed dividend u/s 2(22)(e) of Rs.49,59,14,779/- and (f) Disallowance

DEPUTY COMMISSIONER OF INCOME-TAX vs. M/S. RAJMAL LAKHICHAND,,

In the result, appeal of the Department is dismissed

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

deemed dividend does not arise. The ld. AR referred to page 310 of the paper book to show that the opening balance as on 01-04-2009 is Rs.61,96,13,348/- as against the accumulated profits of the last year of Rs.5,01,44,572/- (at page 300 of the paper book). The ld. AR to support this alternate

M/S. RAJMAL LAKHICHAND vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, appeal of the Department is dismissed

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

deemed dividend does not arise. The ld. AR referred to page 310 of the paper book to show that the opening balance as on 01-04-2009 is Rs.61,96,13,348/- as against the accumulated profits of the last year of Rs.5,01,44,572/- (at page 300 of the paper book). The ld. AR to support this alternate

PRANAY LALITKUMAR JAIN,,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX,, PUNE

In the result, appeals of the assessee in ITA No

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm आयकर अपीऱ सं. / Ita No.1345/Pun/2017 नििाारण वषा / Assessment Year : 2012-13

disallowance of the assessee’s claim for “deduction of Long Term Capital Gain u/s.54F of the Income Tax Act, 1961 (hereinafter referred to as A.Y.2012-13 „the Act‟)”. That apart, in ITA No.1345/PUN/2017, there are other two grounds i.e. “addition of Rs.3,54,94,895/- on account of deemed dividend

KRUTI LALITKUMAR JAIN,,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX,, PUNE

In the result, appeals of the assessee in ITA No

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm आयकर अपीऱ सं. / Ita No.1345/Pun/2017 नििाारण वषा / Assessment Year : 2012-13

disallowance of the assessee’s claim for “deduction of Long Term Capital Gain u/s.54F of the Income Tax Act, 1961 (hereinafter referred to as A.Y.2012-13 „the Act‟)”. That apart, in ITA No.1345/PUN/2017, there are other two grounds i.e. “addition of Rs.3,54,94,895/- on account of deemed dividend

LALITKUMAR KESARIMAL JAIN,,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX,, PUNE

In the result, appeals of the assessee in ITA No

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm आयकर अपीऱ सं. / Ita No.1345/Pun/2017 नििाारण वषा / Assessment Year : 2012-13

disallowance of the assessee’s claim for “deduction of Long Term Capital Gain u/s.54F of the Income Tax Act, 1961 (hereinafter referred to as A.Y.2012-13 „the Act‟)”. That apart, in ITA No.1345/PUN/2017, there are other two grounds i.e. “addition of Rs.3,54,94,895/- on account of deemed dividend

M/S. KIRLOSKAR INTEGRATED TECHNOLOGIES PVT.LTD,,PUNE vs. INCOME-TAX OFFICER, WARD - 14(3),, PUNE

In the result, the appeal of assessee is allowed

Bench: Shri S.S. Viswanethra Ravi & Dr. Dipak P. Ripote

deem it proper to hold the disallowance as confirmed by the CIT(A) is not maintainable and it is not justified. Therefore, we direct the AO to restrict the disallowance for the purpose of Section 14A of the Act to the dividend

M/S. SUBU CHEM PVT.LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE - 6,, PUNE

In the result, the appeal of Revenue in ITA No

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

deemed dividends u/s. 2(22)(e) of the Act. 20. The ld. AR reiterated the submissions made in the appeal in ITA No. 2522/PUN/2017 by the assessee and requested us to adopt the same. Since, in the Revenue‟s appeal in ITA No. 135/PUN/2018, we held that the very transaction is undertaken out of business consideration, the question

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 6,, PUNE vs. JITENDRA K. GUPTA,, PUNE

In the result, the appeal of Revenue in ITA No

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

deemed dividends u/s. 2(22)(e) of the Act. 20. The ld. AR reiterated the submissions made in the appeal in ITA No. 2522/PUN/2017 by the assessee and requested us to adopt the same. Since, in the Revenue‟s appeal in ITA No. 135/PUN/2018, we held that the very transaction is undertaken out of business consideration, the question

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 6,, PUNE vs. M SUBU CHEM PVT.LTD,, PUNE

In the result, the appeal of Revenue in ITA No

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

deemed dividends u/s. 2(22)(e) of the Act. 20. The ld. AR reiterated the submissions made in the appeal in ITA No. 2522/PUN/2017 by the assessee and requested us to adopt the same. Since, in the Revenue‟s appeal in ITA No. 135/PUN/2018, we held that the very transaction is undertaken out of business consideration, the question

JITENDRA KAPILDEO GUPTA,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE -6,, PUNE

In the result, the appeal of Revenue in ITA No

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

deemed dividends u/s. 2(22)(e) of the Act. 20. The ld. AR reiterated the submissions made in the appeal in ITA No. 2522/PUN/2017 by the assessee and requested us to adopt the same. Since, in the Revenue‟s appeal in ITA No. 135/PUN/2018, we held that the very transaction is undertaken out of business consideration, the question

SHREE GARUDA PLANT PRODUCTS LTD,,NASHIK vs. INCOME-TAX OFFICER, WARD - 1 (2),, NASHIK

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.492/Pun/2019 िनधा"रण वष" / Assessment Year : 2015-16 Shree Garuda Plant Products The Income Tax Officer, Ltd., Vs Ward-1(2), Nashik. B-26, Additional Midc Area, Ambad, Nashik. Pan: Aaacg 0563 H Appellant/ Assessee Respondent / Revenue Assessee By Shri Nishint Gandhi – Ar Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 20/07/2022 Date Of Pronouncement 14/10/2022 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Directed Against The Order Of Ld.Commissioner Of Income Tax(Appeals)-1, Nashik For The Assessment Year 2015-16, Dated 19.02.2019, Emanating Out Of Order Under Section 143(3) Of The Income Tax Act, 1961 Dated 26.12.2017. The Assessee Has Raised The Following Grounds Of Appeal: “1.In The Facts & Circumstances Of The Case & In Law, The Learned Commissioner Of Income Tax (Appeals) - 1, Nashik ["The Cit (A)" For Short] Erred In Confirming The Order Of The Learned Income Tax Officer - 1 (2), Nashik, ["The Ao" For Short] Which Was Passed In Violation Of Principles Of Natural Justice Without Affording A Proper Opportunity Of Being Heard To The Appellant. 2. In The Facts & Circumstances Of The Case & In Law, The Ld. Cit(A) Erred In Confirming The Action Of The Ao In Invoking Section 14A R.W.R. 8D Of The Act, Whereby A Disallowance Of Rs.12,81,831/- Was Made In The Hands Of The Appellant.

disallowance made by the AO and sustained by the CIT(A) deserves to be deleted in toto. 3 In the facts and circumstances of the case and in law, the Ld. CIT(A) erred in upholding the addition of Rs.1,11,12,387/- as deemed dividend

ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE -2,, NASHIK vs. NARESH J. KARDA,, NASHIK

Bench: Shri Satbeer Singh Godara & Shri G.D. Padmashali

deemed dividend addition. We thus reject the Revenue’s vehement contentions to delete this entire addition amount of Rs.4,82,66,792/- in issue. The Revenue’s instant appeal ITA.No.798/PUN./2019 fails and assessee’s appeal ITA.No.815/Pun./2019 succeeds as the necessary corollary. Ordered accordingly. 9. Next assessment year 2014-15 involves Revenue’s and assessee’s cross

ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE -2,, NASHIK vs. NARESH J. KARDA,, NASHIK

Bench: Shri Satbeer Singh Godara & Shri G.D. Padmashali

deemed dividend addition. We thus reject the Revenue’s vehement contentions to delete this entire addition amount of Rs.4,82,66,792/- in issue. The Revenue’s instant appeal ITA.No.798/PUN./2019 fails and assessee’s appeal ITA.No.815/Pun./2019 succeeds as the necessary corollary. Ordered accordingly. 9. Next assessment year 2014-15 involves Revenue’s and assessee’s cross

ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE -2,, NASHIK vs. NARESH J. KARDA,, NASHIK

Bench: Shri Satbeer Singh Godara & Shri G.D. Padmashali

deemed dividend addition. We thus reject the Revenue’s vehement contentions to delete this entire addition amount of Rs.4,82,66,792/- in issue. The Revenue’s instant appeal ITA.No.798/PUN./2019 fails and assessee’s appeal ITA.No.815/Pun./2019 succeeds as the necessary corollary. Ordered accordingly. 9. Next assessment year 2014-15 involves Revenue’s and assessee’s cross

INCOME TAX OFFICER, WARD - 3(1), PUNE, PUNE vs. SACHIN GOVIND APTE, PUNE

Accordingly, Grounds of appeal raised by the Revenue are dismissed

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपऩल सं. / Ita No.1720/Pun/2025 निर्धारण वषा / Assessment Years: 2013-14 The Income Tax Officer, V Sachin Govind Apte, Ward-3(1), Pune. S. 759-63, Prabhat Road, Erandwana, Pune – 411004. Pan: Aavpa9458P Appellant/ Revenue Respondent /Assessee Assessee By Ms.Vaishnavi Badwe Revenue By Shri Amit Bobde - Cit(Dr) Date Of Hearing 16/12/2025 Date Of Pronouncement 03/02/2026 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Revenue Against The Order Of Ld.Commissioner Of Income Tax(Appeal)[Nfac], Passed Under Section 250 Of The Income Tax Act, 1961 For The A.Y.2013-14 Dated 15.05.2025 Emanating From The Assessment Order Passed Under Section 143(3) Of The Act, Dated 30.03.2016. The Revenue Has Raised The Following Grounds Of Appeal : “1. Whether On The Facts & Circumstances Of The Case & In Law The Hon'Ble Cit (A) Was Justified In Deleting The Addition Of Rs.78,72,000/- Made Under Head Stcg & Disallowance Of Deduction U/S 54F Of The It. Act, 1961? 2. Whether On The Facts & Circumstances Of The Case & In Law The Hon‟Ble Cti (A) Was Justified In Deleting The Addition Of Rs.1,20,00,000/- Made On Account Of Deemed Dividend U/S Section 2(22)(E) Of The I.T. Act, 1961?

disallowance of deduction u/s 54F of the IT. Act, 1961? 2. Whether on the facts and circumstances of the case and in law the Hon‟ble CTI (A) was justified in deleting the addition of Rs.1,20,00,000/- made on account of deemed dividend