DESAI INFRA PROJECTS(I) PRIVATE LIMITED,PUNE vs. PCIT, CENTRAL PUNE, PUNE

In the result, appeal of the assessee is allowed

Bench: Dr. Manish Borad & Ms. Astha Chandra

disallowance u/s. 36(1)(va) for delay in deposit of employees contribution to PF. 10. We find that the provision of Section 263 of the Act has direct bearing on the issue raised before us, therefore, it is pertinent to take note of this section which reads as under: "263(1) The Commissioner may call for and examine the record

SHARADA ELECTORS PRIVATE LIMITED,PUNE vs. PCIT, PUNE-3, PUNE

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

Bench: Dr.Manish Borad & Shri Vinay Bhamore

disallowance of Rs.1,68,194/- u/s.14A r.w. Rule 8D. For the other issues, he submitted that for some issues details have been furnished and some issues are debatable in nature and ld. AO has taken one of the permissible view. For some issues details have been furnished to the satisfaction of ld. AO and detailed enquiry has been undertaken. Reference

SHRI SWAMI VIVEKANAND NAGARI SAHAKARI PAT SANSTHA MARYADIT,PANDHARPUR vs. INCOME TAX OFFICER WARD 2 PANDHARPUR , PANDHARPUR

In the result, appeal filed by the Assessee is dismissed

Bench: DR.DIPAK P. RIPOTE (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)

section 144 r.w.s 144A of the Act. Assessee had not filed Return of Income u/s.139(1) of the Act. Assessing Officer issued notice u/s.142(1) dated 12.12.2017 requiring assessee to furnish return for A.Y.2017-18, the said notice was served on the assessee on 26/12/2017 as mentioned in the assessment order. Then, Assessing Officer(AO) issued a notice u/s.144

PUNE ZILHA MADHYAWARTI SAHAKARI BANK SEVAKANCHI SAHAKARI PATSANSTHA MARYADIT,PUNE vs. PR. CTI -3, PUNE

In the result, appeal of the assessee is allowed

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.1086/Pun/2025 Assessment Year : 2021-22

disallowed Rs.7,68,150/- and concluded the assessment. 4. Subsequently, ld. PCIT examined the assessment record and under the provisions of section 263 of the Act issued a show cause notice to the assessee on 18.02.2025 and main issues raised therein is that (1) assessee is not entitled for deduction u/s.80P(2)(d) of the Act for the interest income

M/S GERA DEVELOPMENTS PVT. LTD,PUNE vs. PCIT (CENTRAL), PUNE, PUNE

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

Bench: Dr.Manish Borad & Shri Vinay Bhamore

disallowance u/s.14A r.w. Rule 8D at ₹3,82,623, and assessed the income at ₹1,83,60,35,564. 5. Subsequently, ld. PCIT (Central) invoked provisions of section 263 of the Act regarding the claim of depreciation on intangible assets at ₹1,86,95,184 giving reference of the generation of goodwill at the time of amalgamation

SHREE LAXMI NAGARI SAHAKARI PATSANSTHA MARYADIT,JALGAON vs. ITO, WARD 1(4), JALGAON, JALGAON

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

Bench: Dr.Manish Borad & Shri Vinay Bhamore

144A; (ii) an order made by the Joint Commissioner in exercise of the powers or in the performance of the functions of an Assessing Officer conferred on, or assigned to, him under the orders or directions issued by the Board or by the Chief Commissioner or Director General or Commissioner authorized by the Board in this behalf under section

DR. PRATAP PANDHIRANATH PATIL,PUNE vs. PCIT - 2, PUNE

In the result, the appeal filed by the assessee is allowed as per terms indicated above

Bench: Dr.Manish Borad & Shri Vinay Bhamore

144A; (ii) an order made by the Joint Commissioner in exercise of the powers or in the performance of the functions of an Assessing Officer conferred on, or assigned to, him under the orders or directions issued by the Board or by the Chief Commissioner or Director General or Commissioner authorized by the Board in this behalf under section

SHRI TRIMBAKESHWAR DE vs. THAN TRUST,NASHIKVS.CIT (EXEMPTION) PUNE, PUNE

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

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.1051/Pun/2024

disallowed as the assessee trust has deliberately increased the liabilities of previous years and the payment is not used for the purpose of objective of the Trust. 5. Ld.CIT(E) issued notice to the assessee u/s.263 on 08.03.2024. In response, the assessee filed its submissions contending that incorrect assessment years are mentioned and the trust could

VIVEK NATHURAM GAVHANE,PUNE vs. THE PR. COMMISSIONER OF INCOME TAX, CENTRAL, PUNE

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

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.849/Pun/2025 Assessment Year : 2020-21

disallow the depreciation at Rs.81,24,101/- claimed by the assessee alleging use of properties for business purposes. 4. In response to notice u/s.263 of the Act, assessee filed written submissions wherein it has been stated that the properties in question were rented for part of the year and thereafter they have been utilized for business purposes and therefore

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

disallowances, the assessee would be given a fair opportunity to explain his position on the proposed additions/disallowances in accordance with the principle of natural justice. In this regard, the Assessing Officer shall issue an appropriate show-cause notice duly indicating the reasons for the proposed additions/disallowances along with necessary evidences/reasons forming the basis of the same. Before passing the final

M/S. BILCARE LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), PUNE

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.273/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 Dcit, Central Circle-2(2), Vs. M/S. Bilcare Limited, Pune. 601, Icc Trade Tower, Pune- 411016. Pan : Aabcb2242F Appellant Respondent आयकर अपीऱ सं. / Ita No.334/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 M/S. Bilcare Limited, Vs. Dcit, Central Circle- 6Th Floor, B Wing, Icc 2(2), Pune. Trade Tower, Senapati Bapat Road, Pune- 411006. Pan : Aabcb2242F Appellant Respondent

144A of the Act vide letter dated 18.12.2019 for issuance of a direction on the issue of disallowance of allowability of long term capital loss arising on sale of shares of BSPL of Rs.922 crores. The ld. Joint Commissioner of Income Tax vide order dated 30.12.2019 given following directions :- ―(i) The loss on sale of shares of Rs.922 crore claimed

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), PUNE vs. M/S. BILCARE LIMITED, PUNE

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.273/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 Dcit, Central Circle-2(2), Vs. M/S. Bilcare Limited, Pune. 601, Icc Trade Tower, Pune- 411016. Pan : Aabcb2242F Appellant Respondent आयकर अपीऱ सं. / Ita No.334/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 M/S. Bilcare Limited, Vs. Dcit, Central Circle- 6Th Floor, B Wing, Icc 2(2), Pune. Trade Tower, Senapati Bapat Road, Pune- 411006. Pan : Aabcb2242F Appellant Respondent

144A of the Act vide letter dated 18.12.2019 for issuance of a direction on the issue of disallowance of allowability of long term capital loss arising on sale of shares of BSPL of Rs.922 crores. The ld. Joint Commissioner of Income Tax vide order dated 30.12.2019 given following directions :- ―(i) The loss on sale of shares of Rs.922 crore claimed

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 3, , PUNE vs. ROHAN AND RAJDEEP INFRASTRUCTURE,, PUNE

144A, the AR of the assessee vide proceeding sheet entry dated 11.12.2017 was asked as to why the amount of Rs. 18,51,61,000/- credited to partners' capital account should not be treated as revenue receipt and added back to the total income of the assessee u/s. 28(ii)(d) of the Income Tax Act, 1961 and also

ROHAN AND RAJDEEP INFRASTRUCTURE,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 3,, PUNE

144A, the AR of the assessee vide proceeding sheet entry dated 11.12.2017 was asked as to why the amount of Rs. 18,51,61,000/- credited to partners' capital account should not be treated as revenue receipt and added back to the total income of the assessee u/s. 28(ii)(d) of the Income Tax Act, 1961 and also

INCOME TAX OFFICER, PUNE vs. MS S S LANDMARKS, PUNE

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

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.977 & 972/Pun/2023 "नधा"रण वष" / Assessment Years : 2014-15 & 2016-17 Income Tax Officer, Vs. M/S. S. S. Landmarks, Pune Unit U, Shakti Chamber, S.No.77-1/1A/1/3, Sangamwadi, Pune 411 003 Maharashtra Pan : Aadas1463K Appellant Respondent

section 801B(10) (a)(iii) of the Income Tax Act, 1961? 3. Whether on the basis of facts and circumstances of the case and in law, Ld CIT(A) did not err in concluding that the facts of the assessee's case are identical with those in the case of Hindustan Samuh Awas Ltd. Vs CIT, [284 CTR 43 (Bombay

INCOME TAX OFFICER, WARD-2(2), PUNE, PUNE vs. MS S S LANDMARKS, PUNE

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

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.977 & 972/Pun/2023 "नधा"रण वष" / Assessment Years : 2014-15 & 2016-17 Income Tax Officer, Vs. M/S. S. S. Landmarks, Pune Unit U, Shakti Chamber, S.No.77-1/1A/1/3, Sangamwadi, Pune 411 003 Maharashtra Pan : Aadas1463K Appellant Respondent

section 801B(10) (a)(iii) of the Income Tax Act, 1961? 3. Whether on the basis of facts and circumstances of the case and in law, Ld CIT(A) did not err in concluding that the facts of the assessee's case are identical with those in the case of Hindustan Samuh Awas Ltd. Vs CIT, [284 CTR 43 (Bombay

DEPUTY COMMISSIONER OF INCOME-TAX vs. CLARION TECHNOLOGIES PVT. LTD.,, PUNE

In the result, the appeal of assessee is allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Ravi

disallowed the said loss by holing it did not arise in the normal course of assessee‟s business. The Appellate Commissioner allowed the entire claim of loss. Thereafter, the AO issued notice u/s. 154 of the Act for rectifying the assessment as the profit from the sale of said bogus shares had been under assessed. We note that

CLARION TECHNOLOGIES PVT. LTD.,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, the appeal of assessee is allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Ravi

disallowed the said loss by holing it did not arise in the normal course of assessee‟s business. The Appellate Commissioner allowed the entire claim of loss. Thereafter, the AO issued notice u/s. 154 of the Act for rectifying the assessment as the profit from the sale of said bogus shares had been under assessed. We note that

DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 5,, PUNE vs. JAYANT AVINASH DAVE,, PUNE

In the result, the cross appeals are partly allowed for statistical purposes and the CO is dismissed as infructuous

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.23/Pun/2019 निर्धारण वषा / Assessment Year : 2015-2016 Jayant Avinash Dave Vs. Dcit, Office No.801-804, 8Th Floor, Circle 5, Pune Amar Business Park, Sadanand Estates, Plot No.1, S.No.105, Baner Road, Pune – 411045 Pan: Aaqpd6875J Appellant Respondent आयकर अपीऱ सं. / Ita No.182/Pun/2019 निर्धारण वषा / Assessment Year : 2015-2016 Dcit, Vs. Jayant Avinash Dave Circle 5, Pune 46/2/1B, Kaka Halwai Industrial Estate, Pune Satara Road, Pune – 411009 Pan: Aaqpd6875J Appellant Respondent Cross Objection No.11/Pun/2022 (Arising Out Of Ita No.182/Pun/2019 निर्धारण वषा / Assessment Year : 2015-2016 Jayant Avinash Dave Vs. Dcit, Office No.801-804, 8Th Floor, Amar Circle 5, Pune Business Park, Sadanand Estates, Plot No.1, S.No.105, Baner Road, Pune – 411045 Pan: Aaqpd6875J Cross Objector Respondent & Co No.11/Pun/2022

144A from the JCIT, Range-5, Pune, who also opined on the same lines as did the AO. This led the AO to finalize the assessment by treating receipts shown from sale of shares as business income u/s 28. He computed the business income at Rs.80,78,52,914/- after and CO No.11/PUN/2022 reducing the cost price along with certain