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

255(4) of the I.T.Act, 1961 for consideration was as under – ITA Nos. 2016 & 1694/PN/2017 A.Y. 2010-11 to 2012-13, Endurance Technologies Pvt. Ltd., ―Whether on the facts and in the circumstances of the case, the CIT was right in holding that the entire amount of Rs.71,93,24,207/- as related to the cancellation of all the contracts

FAURECIA INTERIOR SYSTEMS INDIA P. LTD.,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

In the result, appeal of the assessee is partly allowed for statistical

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am

disallowance made under section 14 A of the Act.” 5. We shall now take up the discussion on the facts of the assessee. Briefly stated relevant facts include that assessee is a company and is engaged in the business of CAD/CAE services for automotive services. Assessee is a Joint Venture incorporated in the year, 2004. Tata Auto Comp Systems

VIKRAM DEVELOPERS & PROMOTERS,,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX,,

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

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm आयकर अपील सं. / Ita Nos.2795 & 2796/Pun/2016 िनधा"रण वष" / Assessment Years : 2012-13 & 2013-14 M/S. Vikram Developers & Promoters, 19, Shrikrishna Heights, Ganeshkhind Road, Shivaji Nagar, Pune-411005. .......अपीलाथ" / Appellant Pan : Aagfv4298R बनाम / V/S. Dcit, Central Circle-2(1), ……""यथ" / Respondent Pune. Assessee By : Shri Kishor Phadke Revenue By : Shri Milind Chahure सुनवाई क" तारीख / Date Of Hearing : 17.10.2019 घोषणा क" तारीख / Date Of Pronouncement : 14.11.2019 आदेश / Order Per D. Karunakara Rao, Am: There Are Two Appeals Under Consideration Filed By The Assessee Against The Common Orders Of The Cit(A)-12, Pune Dated 08.09.2016 For The Assessment Years 2012-13 & 2013-14 Respectively. Preliminary Issue - Condonation Of Delay – Both Appeals 2. Before Us, At The Outset, Ld. Counsel For The Assessee Submitted That The Both The Appeals Could Not Be Filed In Time & The Said Appeals Were Filed With The Delay Of 01 Day. In This Regard, Ld. Counsel For The Assessee Submitted That The Delay Is Unintentional & Prayed For Condoning The Same. 3. After Hearing Both The Sides & Considering The Smallness Of Delay In Filing Of Both The Appeals, We Condone The Delay & Proceed To Adjudicate The Appeals Of The Assessee In The Following Paragraphs. 4. The Facts & Grounds Are Common In Both The Appeals, Therefore, Both The Appeals Were Heard Together & Are Being Disposed Of By This Composite Order. Accordingly, The Appeal-Wise Adjudication Is Taken Up In The Following Paragraphs.

4 of the Act, which is the charging section. Section 115J of the Act only creates a legal fiction to supplant the measure of total income which is chargeable to tax. Thus, indisputably, tax as computed on the basis of Section 115J of the Act is a tax on income." Suryalatha Spinning Mills Ltd. Vs. Union of India - 223ITR

M/S. VIKRAM DEVELOPERS & PROMOTERS,,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX,,

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

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm आयकर अपील सं. / Ita Nos.2795 & 2796/Pun/2016 िनधा"रण वष" / Assessment Years : 2012-13 & 2013-14 M/S. Vikram Developers & Promoters, 19, Shrikrishna Heights, Ganeshkhind Road, Shivaji Nagar, Pune-411005. .......अपीलाथ" / Appellant Pan : Aagfv4298R बनाम / V/S. Dcit, Central Circle-2(1), ……""यथ" / Respondent Pune. Assessee By : Shri Kishor Phadke Revenue By : Shri Milind Chahure सुनवाई क" तारीख / Date Of Hearing : 17.10.2019 घोषणा क" तारीख / Date Of Pronouncement : 14.11.2019 आदेश / Order Per D. Karunakara Rao, Am: There Are Two Appeals Under Consideration Filed By The Assessee Against The Common Orders Of The Cit(A)-12, Pune Dated 08.09.2016 For The Assessment Years 2012-13 & 2013-14 Respectively. Preliminary Issue - Condonation Of Delay – Both Appeals 2. Before Us, At The Outset, Ld. Counsel For The Assessee Submitted That The Both The Appeals Could Not Be Filed In Time & The Said Appeals Were Filed With The Delay Of 01 Day. In This Regard, Ld. Counsel For The Assessee Submitted That The Delay Is Unintentional & Prayed For Condoning The Same. 3. After Hearing Both The Sides & Considering The Smallness Of Delay In Filing Of Both The Appeals, We Condone The Delay & Proceed To Adjudicate The Appeals Of The Assessee In The Following Paragraphs. 4. The Facts & Grounds Are Common In Both The Appeals, Therefore, Both The Appeals Were Heard Together & Are Being Disposed Of By This Composite Order. Accordingly, The Appeal-Wise Adjudication Is Taken Up In The Following Paragraphs.

4 of the Act, which is the charging section. Section 115J of the Act only creates a legal fiction to supplant the measure of total income which is chargeable to tax. Thus, indisputably, tax as computed on the basis of Section 115J of the Act is a tax on income." Suryalatha Spinning Mills Ltd. Vs. Union of India - 223ITR

RAMESH G PORWAL,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

In the result, the appeal of the assessee is partly allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am

disallowance so made be deleted. Just in proper relief be granted to the appellant on this score.” 3. Before us, Ld. AR submitted that the assessee does not wish to press ground No.5 and therefore the ground No.5 is dismissed as not pressed. 4. 1st ground is with respect to treating the income as business income as against it treatment

THE JANALAXMI COOPERATIVE BANK LIMITED,NASHIK vs. ACIT CIRCLE 1, NASHIK

In the result, the appeal of assessee is allowed

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

disallowance of reversal provision for bad and doubtful debts reserves from A.Ys. 2004-05 to 2012-13 were reproduced wherein we note that the assessee started making provision for bad and doubtful debts from A.Ys. 2004-05 to 2014-15 to an extent of Rs.71,88,98,173/-. It is also noted that the assessee made net of reversal

BHARAT KESHAVLAL SHAH,,PUNE vs. PR. COMMISSIONER OF INCOME-TAX -3,, PUNE

Appeal is partly allowed in above terms

Bench: Shri Satbeer Singh Godara & Dr. Dipak P. Ripote

section 115BBE computation as well as regarding 43B disallowance, TDS claim vis- à-vis income offered to tax u/s.199(1) and deemed rent issue with 4 ITA.No.855/PUN/2019 Shri Bharat Keshavlal Shah, Pune. liberty to raise appropriate contentions before the Assessing Officer in consequential proceedings. Rejected in very terms. 7. This leaves us with the first and foremost issue

M/S. GLOBAL INFRASTRUCTURE & TECHNOLOGIES LTD.,,PUNE vs. ITO, WD.-3(3),, PUNE

In the result, the appeal of Revenue in ITA

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am

section (1) of Sec.142 of the Act. We find that Hon’ble Allahabad High Court in the case of Amjad Ali Nazar Ali Vs. CIT (1977) 110 ITR 419 has observed that the use of the word “discovers” in Sec.139(5) cannotes discovery of some omission or wrong statement in the return, of which the assessee was not aware

DCIT,CIR.-1(1),, PUNE vs. GLOBAL INFRASTRUCTURE & TECHNOLOGIES LTD.,, MUMBAI

In the result, the appeal of Revenue in ITA

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am

section (1) of Sec.142 of the Act. We find that Hon’ble Allahabad High Court in the case of Amjad Ali Nazar Ali Vs. CIT (1977) 110 ITR 419 has observed that the use of the word “discovers” in Sec.139(5) cannotes discovery of some omission or wrong statement in the return, of which the assessee was not aware

ACIT, CIR.-1(2),, PUNE vs. GLOBAL INFRASTRUCTURE & TECHNOLOGIES LTD.,, PUNE

In the result, the appeal of Revenue in ITA

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am

section (1) of Sec.142 of the Act. We find that Hon’ble Allahabad High Court in the case of Amjad Ali Nazar Ali Vs. CIT (1977) 110 ITR 419 has observed that the use of the word “discovers” in Sec.139(5) cannotes discovery of some omission or wrong statement in the return, of which the assessee was not aware

DCIT,CIR.-1(1),, PUNE vs. MANTRI HOUSING & CONSTRUCTIONS LTD.,, PUNE

In the result, the appeal of Revenue in ITA

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am

section (1) of Sec.142 of the Act. We find that Hon’ble Allahabad High Court in the case of Amjad Ali Nazar Ali Vs. CIT (1977) 110 ITR 419 has observed that the use of the word “discovers” in Sec.139(5) cannotes discovery of some omission or wrong statement in the return, of which the assessee was not aware

SONAL SANDEEP SATAV,PUNE vs. PCIT, PUNE-2, PUNE

In the result, the appeal of the assessee is dismissed

Bench: Ms. Astha Chandra & Shree G.D. Padmahshali

4, along with its sub paragraphs 4.1 to 47 deal with disallowance under section 40(a)(ia) in the context of commission exceeding Re. 18.00 crore paid by the Assessee during the relevant assessment year, even though the TDS on the commission paint was negligible. Paragraph 5 deals with the expenditure incurred fowants research and development Paragraph 6 deals with

FRANCOIS COMPRESSOR INDIA PVT.LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 1(2),, PUNE

In the result, the appeal filed by the assessee stands partly allowed for statistical purposes

Bench: Shri Inturi Rama Rao, Am & Shri Partha Sarathi Chaudhury, Jm आयकर अपील सं. / Ita No.2504/Pun/2017 िनधा"रण वष" / Assessment Year : 2013-14 ………. अपीलाथ" / Francois Compressor India Pvt. Ltd., Gat No.147/1(New), Lavale Road, Appellant Pirangut, Tal. Mulshi, Dist. Pune – 412115. Pan : Aabcf0496K. बनाम V/S ………. ""यथ" / The Dy.Commissioner Of Income Tax, Circle 1 (2), Pune. Respondent Assessee By : Shri Sharad Shah. Revenue By : Shri Amol Kamat. सुनवाई क" तारीख / Date Of Hearing : 05.08.2021 घोषणा क" तारीख / Date Of Pronouncement : 18.08.2021 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Final Assessment Order Dt.31.08.2017 Passed Under Sec.143(3) R.W.S. 144C(13) Of The Income Tax Act, 1961 (Hereinafter Referred To “The Act”) For The Assessment Year 2013-14. 2. The Brief Facts Of The Case Are As Under : The Appellant Is A Company Incorporated Under The Provisions Of The Companies Act, 1956. It Is Engaged In The Business Of Development & Sale

disallowing the loss on foreign exchange variation by holding to be capital. The ld. AR contended that the loss on account of fluctuation foreign currency rate on ECB loan should be allowed as revenue deduction in irrespective of for what purpose the loan was utilized having regard to the provisions of section 43AA of the Act and the Accounting Standard

M/S. SAISIDHA SUGAR EQUIPMENT & ENGINEERING COMPANY PVT.LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 10,, PUNE

Bench: Shri S.S. Godara & Dr. Dipak P. Ripote

section 37 is very much applicable herein. 4. We have given our thoughtful consideration to the assessee‟s foregoing arguments and find no merit therein. It emerges during the course of hearing that the assessee‟s impugned expenses nowhere relate to even its regular customers as it is evident from the perusal of case file. We find that this claim

M/S. SAISIDHA SUGAR EQUIPMENT AND ENGINEERING COMPANY PVT.LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 10,, PUNE

Bench: Shri S.S. Godara & Dr. Dipak P. Ripote

section 37 is very much applicable herein. 4. We have given our thoughtful consideration to the assessee‟s foregoing arguments and find no merit therein. It emerges during the course of hearing that the assessee‟s impugned expenses nowhere relate to even its regular customers as it is evident from the perusal of case file. We find that this claim

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 u/s 14A is called for. Accordingly Ground No.2 of the Assessee is allowed. ITA No.492/PUN/2019 for A.Y. 2015-16 Shree Garuda Plant Products Ltd.[A] Ground Number 3 - Deemed dividend u/s 2(22)(e) : 3. As per the Assessment order, the assessee has received Loan of Rs.1,00,00,000/- from Trenton Investment Company Pvt Ltd and Rs.11

INCOME-TAX OFFICER, WARD - 12(1),, PUNE vs. M/S. YASH ASSOCIATES,, PUNE

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपीलसं. / Ita No.159/Pun/2018 िनधा"रणवष" / Assessment Year : 2014-15 The Income Tax Officer, M/S.Yash Associates, 401, 4Th Floor, Shreepal Ward-12(1), Pune. Vs . Chambers, 481/C, Shanivar Peth, Pune – 411030. Pan: Aaafy 6149 E Appellant/ Assessee Respondent /Revenue Cross Objection No.01/Pun/2022 (Arising Out Of Ita No.159/Pun/2018) िनधा"रणवष" / Assessment Year : 2014-15 The Income Tax Officer, M/S.Yash Associates, 401, 4Th Floor, Shreepal Ward-12(1), Pune. Vs. Chambers, 481/C, Shanivar Peth, Pune – 411030. Pan: Aaafy 6149 E Appellant/ Assessee Respondent /Revenue Assessee By Shri Rajiv Thakkar – Ar Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 11/07/2022 Date Of Pronouncement 05/08/2022 आदेश/ Order Per S.S.Godara, Jm: This Revenue’S Appeal Ita No.159/Pun/218 With Assessee’S Cross Objection Co No.01/Pun/2022 For The A.Y. 2014-15, Arise Against The Cit(A)-8, Pune’S Order Dated 17.10.2017 Passed In Case No.Pn/Cit(A)-8/Acit Cir-12/293/2017-18/284, In Proceedings Under Section 143(3) Of The Income Tax Act, 1961. Heard Both The Parties. Case Files Perused.

disallowance made by the Assessing Officer to the tune of Rs.2,43,29,955/- in his assessment order dated 30.12.2016, as under: “5. In Ground No.1 the appellant has contended that it be allowed deduction u/s. 80IB(10) as it has fulfilled the conditions stipulated under the relevant provisions. In its written submissions dated 12.08.2017, the appellant submitted that

AYOKI FABRICON PVT. LTD.,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, the appeal of the assessee is allowed

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No.2155/Pun/2016 िनधा"रण वष" / Assessment Year : 2009-10 Ayoki Fabricon Pvt. Ltd., 137 To 139, Akshay Complex, Dhole Patil Road, Pune. Pan : Aabca5780F .......अपीलाथ" / Appellant बनाम / V/S. Dcit, Circle- 1(1), ……""यथ" / Respondent Pune. Assessee By : Shri Nikhil Pathak & Shri Nimit Gujarathi Revenue By : Shri Yogesh Kamat, Addl.Cit सुनवाई क" तारीख / Date Of Hearing : 20.12.2018 घोषणा क" तारीख / Date Of Pronouncement : 31.12.2019 आदेश / Order Per D. Karunakara Rao, Am : This Appeal Is Filed By The Assessee Against The Order Of Cit(A)-1, Pune Dated 14.06.2016 For The Assessment Year 2009-10. 2. The Grounds Raised By The Assessee Are As Under :- “1. The Learned Cit(A) Erred In Confirming The Disallowance Of Additional Depreciation Of Rs.1,10,53,748/- U/S 32(1)(Iia) On New Plant & Machinery On The Ground That The Assessee Was Not Engaged In The Business Of Manufacture Or Production Of Any Article Or Thing. 2. The Learned Cit(A) Erred In Ignoring The Fact That – I) The Details Furnished To The Assessing Officer By The Assessee During The Assessment Proceedings U/S 143(3) R.W.S. 147 Were Same As Were Furnished During The Assessment Proceedings U/S 143(3) & Therefore.

disallowed and added to the total income of the assessee. Since the assessee has filed inaccurate particulars of its income, separate penalty proceedings u/s 271(1)(c) of the I.T. Act, 1961 are being initiated.” 4. Aggrieved with the said reassessment order of the Assessing Officer, the assessee filed an appeal before the CIT(A) raising the legal objection