ST XAVIER'S EDUCATION TRUST, AURANGABAD,AURANGABAD vs. PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL), NAGPUR, NAGPUR

In the result, both the appeals are allowed in the above terms

Bench: Shri R.S. Syal & Shri S.S.Viswanethra Raviassessment Years : 2009-10 To 2019-20 St. Xavier‘S Education Trust, Vs. The Pr.Cit(Central), R-7/1, Town Centre, Nagpur Cidco, Aurangabad – 431 003 Maharashtra Pan : Aacts4140D Appellant Respondent Assessment Years : 2009-10 To 2019-20 St. Lawrence Educational Trust, Vs. The Pr.Cit(Central), Gut No.42, Sunderwadi, Nagpur Salta Circle, Aurangabad – 431 003 Maharashtra Pan : Aaats5598P Appellant Respondent

133A of the Act on 27-02- 2019. During the course of survey, certain vouchers were found bearing only signature of the recipients but the details of recipients, amount and signature of Trustee/Accountant and details of expenses were not mentioned. These vouchers pertained to Bonus, Perquisites and Allowances etc. Statement of Ms. Flavia Alburquerque, a trustee of both the trusts

ITO, NASHIK vs. ANKIT NARESH TULSIAN, NASHIK

In the result, appeal of the Revenue is dismissed

133A", "132", "142(3)" ], "issues": "Whether reassessment proceedings initiated on a change of opinion are valid; and whether LTCG from sale of shares, meeting all conditions of Section 10(38), can be disallowed

DCIT-CIRCLE 7 PUNE, BODHI TOWER SALISBURY PARK PUNE vs. TRIO CHEMSUCROTECH ENG. PROJECTS PVT. LTD, PUNE

disallowing it in the hands of the assessee would amount to double taxation. The CIT(A) had correctly deleted the major portion of the addition, sustaining only 2% as commission income.", "result": "Dismissed", "sections": [ "143(3)", "133A

GARWARE TECHNICAL FIBRES LIMITED,PUNE vs. DCIT, CC-1(3), PUNE

133A, it may, in any proceeding\nunder this Act, be presumed-\n(i) that such books of account, other documents, money, bullion,\njewellery or other valuable article or thing belongs to such person;\n(ii) that the contents of such books of account and other documents\nare true;\"\n\n3. 9. A plain reading of this section makes it ample

INCOME TAX OFFICER, WARD 1, AHMEDNAGAR vs. DEEPAK BABURAO VISPUTE, KOPARGAON

In the result, the appeal filed by the Revenue is partly allowed

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2020-21

section 69B r.w.s. 115BBE of the Act. So far as the disallowance of expenses are concerned, the Ld. CIT(A) gave part relief to the assessee out of sales promotion expenses disallowed by the Assessing Officer at Rs.2,83,490/-. He directed the Assessing Officer to restrict the same at Rs.28,350/- being 10% of such disallowance. Similarly

GARWARE TECHNICAL FIBRES LIMITED,PUNE vs. DCIT, CC-1(3), PUNE

In the result, all the eight appeals filed by the assessee are partly allowed and the only appeal filed by the Revenue is dismissed

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

133A, it may, in any proceeding under this Act, be presumed- 8 ITA.Nos.1696 to 1703/PUN./2024 that such books of account, other documents, money, bullion, jewellery or other valuable article or thing belongs to such person; (ii) that the contents of such books of account and other documents are true;” 3.9. A plain reading of this section makes

GARWARE TECHNICAL FIBRES LIMITED,PUNE vs. DCIT, CC-1(3), PUNE

In the result, all the eight appeals filed by the assessee are partly allowed and the only appeal filed by the Revenue is dismissed

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

133A, it may, in any proceeding under this Act, be presumed- 8 ITA.Nos.1696 to 1703/PUN./2024 that such books of account, other documents, money, bullion, jewellery or other valuable article or thing belongs to such person; (ii) that the contents of such books of account and other documents are true;” 3.9. A plain reading of this section makes

GARWARE TECHNICAL FIBRES LIMITED,PUNE vs. DCIT, CC-1(3), PUNE

In the result, all the eight appeals filed by the assessee are partly allowed and the only appeal filed by the Revenue is dismissed

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

133A, it may, in any proceeding under this Act, be presumed- 8 ITA.Nos.1696 to 1703/PUN./2024 that such books of account, other documents, money, bullion, jewellery or other valuable article or thing belongs to such person; (ii) that the contents of such books of account and other documents are true;” 3.9. A plain reading of this section makes

GARWARE TECHNICAL FIBRES LIMITED,PUNE vs. DCIT, CC-1(3), PUNE

In the result, all the eight appeals filed by the assessee are partly allowed and the only appeal filed by the Revenue is dismissed

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

133A, it may, in any proceeding under this Act, be presumed- 8 ITA.Nos.1696 to 1703/PUN./2024 that such books of account, other documents, money, bullion, jewellery or other valuable article or thing belongs to such person; (ii) that the contents of such books of account and other documents are true;” 3.9. A plain reading of this section makes

GARWARE TECHNICAL FIBRES LIMITED,PUNE vs. DCIT, CC-1(3), PUNE

In the result, all the eight appeals filed by the assessee are partly allowed and the only appeal filed by the Revenue is dismissed

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

133A, it may, in any proceeding under this Act, be presumed- 8 ITA.Nos.1696 to 1703/PUN./2024 that such books of account, other documents, money, bullion, jewellery or other valuable article or thing belongs to such person; (ii) that the contents of such books of account and other documents are true;” 3.9. A plain reading of this section makes

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

GARWARE TECHNICAL FIBRES LIMITED,PUNE vs. DCIT, CC-1(3), PUNE

133A, it may, in any proceeding\nunder this Act, be presumed-\n(i) that such books of account, other documents, money, bullion,\njewellery or other valuable article or thing belongs to such person;\n(ii) that the contents of such books of account and other documents\nare true;\"\n3. 9. A plain reading of this section makes it ample clear

ASSISTANT COMMISSIONER OF INCOME TAX , AHMEDNAGAR CIRCLE,, AHMEDNAGAR vs. SANJAY NEMICHAND LOHADE,, AHMEDNAGAR

Bench: Shri S.S. Godara & Shri G.D. Padmahshali

section 143(3) r.w.s. 254 order dated 28-11- 2016, we note that the CIT(A)’s detailed discussion to this effect reads as under : “5. Ground nos. 1 to 5: - As all these grounds relate to the common issue of disallowance of deduction u/s. 54F, therefore the same are disposed of together as under. 5.1 During the appellate proceedings

VIJAY TUKARAM RAUNDAL,PUNE vs. THE DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1(2), PUNE

In the result, the appeals filed by the assessee are allowed for statistical purposes

disallowance.", "held": "The Tribunal, in this quantum appeal, held that the housing project was not completed within the stipulated five-year period from the end of the financial year of approval. Consequently, the assessee was ineligible for the deduction under Section 80IB(10). Subsequently, penalty proceedings were initiated.", "result": "Partly Allowed", "sections": [ "80IB(10)", "115JC", "271(1)(c)", "133A

DCIT, CENTRAL CIRCLE- 1(3), PUNE, INCOME TAX, PUNE vs. GARWARE TECHNICAL FIBRES LIMITED, MAHARASHTRA

In the result, all the eight appeals filed by the assessee are partly\nallowed and the only appeal filed by the Revenue is dismissed

133A, it may, in any proceeding\nunder this Act, be presumed-\n\n(i)\nthat such books of account, other documents, money, bullion,\njewellery or other valuable article or thing belongs to such person;\n\n(ii)\nthat the contents of such books of account and other documents\nare true;\"\n\n3.9.\nA plain reading of this section makes

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 12, PUNE vs. VARUN JAIN, PUNE

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

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamorecross Objection No.14/Pun/2025 (Arising Out Of Ita No.2720/Pun/2024) िनधा"रण वष" / Assessment Year: 2018-19 Varun Jain, The Acit, P-024, Forest County, Kharadi, V Circle-12, Pune. Pune – 411014. S. Maharashtra. Pan:Aexpj0171J Appellant/ Assessee Respondent / Revenue आयकर अपील सं. / Ita No.2720/Pun/2024 िनधा"रण वष" / Assessment Year: 2018-19 The Acit, Varun Jain, Circle-12, Pune. Vs. P-024, Forest County, Kharadi, Pune – 411014. Maharashtra. Pan:Aexpj0171J Appellant / Revenue Respondent / Assessee Assessee By Shri Fenil Bhatt – Ar(Virtual) Revenue By Shri Abhinay Kumbhar - Dr Date Of Hearing 05/05/2025 Date Of Pronouncement 07/05/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: In This Case, Revenue Has Filed An Appeal Against The Order Of Ld.Commissioner Of Income Tax(Appeal)[Nfac] Passed Under C.O.No.14/Pun/2025 [A] & Ita No.2720/Pun/2024 [R]

133A of the Act, in the case of JM Financial Asset Management Limited, the Deputy Director of Income Tax(Investigation), noted that JM Financial had manipulated accounting methodology, so as to artificially inflate the Distributable Surplus. The Dy.DIT opined that, they have violated SEBI Guidelines, entire transaction is sham. Accordingly, Assessing Officer made an addition of Rs.5

SANJAY MANAKCHAND KOTECHA,,JALGAON vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

In the result, both the appeals of assessee are dismissed

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Raviआयकर अपऩल सं. / Ita Nos.435 & 436/Pun/2016 ननधधारण वषा / Assessment Years : 2011-12 & 2012-13

disallowed by the AO, the penalty shall be "three times the amount of tax sought to be evaded". In the case of amounts disclosed during the course of search, the penalty amount is only ten percent of the undisclosed income. Parliament has, therefore, given a different treatment to the latter category. At the same time, if an assessee were

SANJAY MANAKCHAND KOTECHA,,JALGAON vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

In the result, both the appeals of assessee are dismissed

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Raviआयकर अपऩल सं. / Ita Nos.435 & 436/Pun/2016 ननधधारण वषा / Assessment Years : 2011-12 & 2012-13

disallowed by the AO, the penalty shall be "three times the amount of tax sought to be evaded". In the case of amounts disclosed during the course of search, the penalty amount is only ten percent of the undisclosed income. Parliament has, therefore, given a different treatment to the latter category. At the same time, if an assessee were