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.

Business Income and changing income from house property to business income, is enhancement in the facts and circumstances of this

MAHANAGAR CONSTRUCTIONS,,PUNE vs. INCOME-TAX OFFICER, WARD - 7(2),, PUNE

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.623/Pun/2018 िनधा"रण वष" / Assessment Year : 2014-15 Mahanagar Constructions, S.No.129, H.No.1/2, Hari Ganga, Near Rto Office, Yerwada, Pune-411006. .......अपीलाथ" / Appellant Pan : Aajfm8909K बनाम / V/S. Ito, Ward-7(2), ……""यथ" / Respondent Pune. Assessee By : Shri Vipin Gujrathi Revenue By : Shri N. Ashok Babu सुनवाई क" तारीख / Date Of Hearing : 15.07.2019 घोषणा क" तारीख / Date Of Pronouncement : 05.09.2019 आदेश / Order Per D. Karunakara Rao, Am: This Appeal Is Filed By The Assessee Against The Order Of Cit(A)-5, Pune Dated 12.12.2017 For The Assessment Year 2014-15. 2. The Grounds Raised By The Assessee Are As Under :- “1) On The Facts & In The Circumstances Of The Case & In Law The Honorable Cit (Appeals) - 5, Pune Erred In Confirming The Addition Of Rs 11,59,200/- To The Income Of The Appellant Under The Head “Income From House Property” Being The Annual Letting Value Of The Unsold Units Lying As Stock In Trade Of The Appellant Without Appreciating The Fact That The Appellant Is Engaged In The Business Of Real Estate Development & The Unsold Flats Are Held As Stock In Trade & Not As Investments. The Appellant Hereby Prays That The Addition May Please Be Deleted. 2) Without Prejudice To Ground Of Appeal No. 1, On The Facts & In The Circumstances Of The Case & In Law The Honorable Cit (Appeals) - 5, Pune

House Property‟. The Hon‟ble Gujarat High Court in the case of Commissioner of Income Tax Vs. Neha Builders (P.) Ltd. (supra) has held that where the property is held as stock-in-trade any income derived rom stock would be „income from business

M/S. COSMOPOLIS CONSTRUCTION,,PUNE vs. INCOME-TAX OFFICER, WARD - 1(1),, PUNE

The appeal of the assessee are allowed

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

House Property‟. The Hon‟ble Gujarat High Court in the case of Commissioner of Income Tax Vs. Neha Builders (P.) Ltd. (supra) has held that where the property is held as stock-in-trade any income derived rom stock would be „income from business

M/S. COSMOPOLIS CONSTRUCTION,,PUNE vs. INCOME-TAX OFFICER, WARD - 1(1),, PUNE

The appeal of the assessee are allowed

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

House Property‟. The Hon‟ble Gujarat High Court in the case of Commissioner of Income Tax Vs. Neha Builders (P.) Ltd. (supra) has held that where the property is held as stock-in-trade any income derived rom stock would be „income from business

MARIGOLD PREMISES PVT.LTD,,PUNE vs. INCOME-TAX OFFICER (WARD) -14(5),, PUNE

In the result, all the appeals are allowed for statistical

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita. Nos.896, 917, 947, 948 & 949/Pun/2022 "नधा"रण वष" / Assessment Years : 2013-14 To 2017-18

Business income earned by the assessee consisted mainly from Renting of parking spaces, Table spaces and Games collection etc. The assessee was show caused as to why such income should not be treated as ‘Income from house property

M/S. MARIGOLD PREMISES PVT.LTD,,PUNE vs. INCOME-TAX OFFICER (HQ) -6(1),, PUNE

In the result, all the appeals are allowed for statistical

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita. Nos.896, 917, 947, 948 & 949/Pun/2022 "नधा"रण वष" / Assessment Years : 2013-14 To 2017-18

Business income earned by the assessee consisted mainly from Renting of parking spaces, Table spaces and Games collection etc. The assessee was show caused as to why such income should not be treated as ‘Income from house property

MARIGOLD PREMISES PVT.LTD,,PUNE vs. INCOME-TAX OFFICER (WARD) -14(3),, PUNE

In the result, all the appeals are allowed for statistical

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita. Nos.896, 917, 947, 948 & 949/Pun/2022 "नधा"रण वष" / Assessment Years : 2013-14 To 2017-18

Business income earned by the assessee consisted mainly from Renting of parking spaces, Table spaces and Games collection etc. The assessee was show caused as to why such income should not be treated as ‘Income from house property

MARIGOLD PREMISES PVT.LTD,,PUNE vs. INCOME-TAX OFFICER (WARD) -14(3),, PUNE

In the result, all the appeals are allowed for statistical

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita. Nos.896, 917, 947, 948 & 949/Pun/2022 "नधा"रण वष" / Assessment Years : 2013-14 To 2017-18

Business income earned by the assessee consisted mainly from Renting of parking spaces, Table spaces and Games collection etc. The assessee was show caused as to why such income should not be treated as ‘Income from house property

MARIGOLD PREMISES PVT.LTD,,PUNE vs. INCOME-TAX OFFICER (WARD) -14(3),, PUNE

In the result, all the appeals are allowed for statistical

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita. Nos.896, 917, 947, 948 & 949/Pun/2022 "नधा"रण वष" / Assessment Years : 2013-14 To 2017-18

Business income earned by the assessee consisted mainly from Renting of parking spaces, Table spaces and Games collection etc. The assessee was show caused as to why such income should not be treated as ‘Income from house property

M/S. KOLTE PATIL DEVELOPERS LTD.,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, the appeal of the assessee is allowed

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

House Property‟. The Hon‟ble Gujarat High Court in the case of Commissioner of Income Tax Vs. Neha Builders (P.) Ltd. (supra) has held that where the property is held as stock-in-trade any income derived rom stock would be „income from business

M/S. NIRMAN HOMES,,PUNE vs. INCOME-TAX OFFICER, WARD - 3(1),, PUNE

In the result, the appeal of the assessee is allowed

House property. The Hon’ble Gujarat High Court in the case of Commissioner of Income-tax Vs. Neha Builders (P) Ltd. (supra) has held that where the property is held as stock in trade any income derived from stock would be income from business

KUMAR PROPERTIES AND REAL ESTATE PRIVATE LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 14, PUNE

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S.Viswanethra Raviआयकर अपील सं. / Ita No.2977/Pun/2017 िनधा"रण वष" / Assessment Year 2013-14 Kumar Properties & Real Estate Vs. Dcit, Circle-14, Private Limited, Pune Ist Floor, Kumar Capital, East Street, Camp, Pune – 411 001 Pan : Aaack7490H Appellant Respondent Assessee By Shri Rajan Vora & Shri Rajendra Agiwal Revenue By Shri Vitthal Bhosale Date Of Hearing 27.04.2021 Date Of Pronouncement 28-04.2021 आदेश / Order Per R.S. Syal, Vp : This Appeal By The Assessee Is Directed Against The Order Passed By The Cit(A)-7, Pune On 01.09.2017 In Relation To The Assessment Year 2013-14. 2. The Assessee Has Assailed Confirmation Of Addition Of Rs.1,47,65,688/- Towards Deemed Rental Income On Stock-In-Trade Of Unsold Flats/Bungalows Held By The Assessee, As A First Major Issue. Succinctly, The Factual Panorama Of The Case Is That The Assessee Has Been Engaged In The Business Of Development Of Properties With The Projects `Kumar Infinia’ & `Kumar Picasso’

Income from house property’, which reads as under:- `The annual value of property consisting of any buildings or lands appurtenant thereto of which the assessee is the owner, other than such portions of such property as he may occupy for the purposes of any business

KOLTE PATIL I-VEN TOWNSHIPS PUNE LTD,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 14,, PUNE

In the result, the appeal of the assessee is allowed

Bench: Shri Anil Chaturvedi, Am & Shri Partha Sarathi Chaudhury, Jm

House Property‟. The Hon‟ble Gujarat High Court in the case of Commissioner of Income Tax Vs. Neha Builders (P.) Ltd. (supra) has held that where the property is held as stock-in-trade any income derived rom stock would be „income from business

CONSTRUCTION PROTAL PVT. LTD.,,PUNE vs. INCOME-TAX OFFICER,, PUNE

In the result, the appeal of the assessee is allowed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita Nos. 1607 & 1608/Pun/2014 िनधा"रण वष" / Assessment Years : 2005-06 & 2006-07

income taxable under the head salary, house property and business, capital gains or others. Therefore, consequential deductions u/s.70, 71 and 72 of the Act are not available

CONSTRUCTION PROTAL PVT. LTD.,,PUNE vs. INCOME-TAX OFFICER,,

In the result, the appeal of the assessee is allowed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita Nos. 1607 & 1608/Pun/2014 िनधा"रण वष" / Assessment Years : 2005-06 & 2006-07

income taxable under the head salary, house property and business, capital gains or others. Therefore, consequential deductions u/s.70, 71 and 72 of the Act are not available

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE - 1(1),, PUNE vs. BALKRISHNAN SHANMUGHAM CHETTIAR, ALIAS S. BALAN,, PUNE

Appeals are dismissed in above terms

Bench: Shri S.S.Godara & Shri Inturi Rama Raoआयकर अपीलसं. / Ita No’S.110, 111 & 112/Pun/2021 िनधा"रणवष" / Assessment Years : 2015-16, 2016-17 & 2017-18 The Asst. Commissioner Of M/S.Balkrishna Shanmugham Income Tax, Central Circle- Vs Chettiar Alias S. Balan, 1(1), Pune. . 1133/5, Nirankar F.C.Road, Shivaji Nagar, Pune – 411016. Pan: Aalpc 5158 J Appellant/ Assessee Respondent /Revenue Assessee By Shri M R Bhagwat – Ar Revenue By Shr Ramnath P Murkunde – Dr Date Of Hearing 08/09/2022 Date Of Pronouncement 16/11/2022 आदेश/ Order Per S.S.Godara, Jm: These Revenue’S Three Appeals For Ays 2015-16 To 2017-18 Arise Against The Commissioner Of Income Tax(Appeal)-11, Pune’S Separate Orders; All Dated 20.01.2021, Passed In Case Nos.Itba/Apl/S/250/2020-21/1029928824(1), Itba/Apl/S/ 250/2020-21/1029929977(1) & Itba/Apl/S/250/2020- 21/1029930177(1); Respectively, In Proceedings U/S.250 Of The Income Tax Act, 1961 [In Short “The Act”].

properties and the rental income as received therefrom was declared business income'. The AO held such income to be chargeable to tax under the head income, from house

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE - 1(1),, PUNE vs. BALKRISHNAN SHANMUGHAM CHETTIAR, ALIAS S. BALAN,, PUNE

Appeals are dismissed in above terms

Bench: Shri S.S.Godara & Shri Inturi Rama Raoआयकर अपीलसं. / Ita No’S.110, 111 & 112/Pun/2021 िनधा"रणवष" / Assessment Years : 2015-16, 2016-17 & 2017-18 The Asst. Commissioner Of M/S.Balkrishna Shanmugham Income Tax, Central Circle- Vs Chettiar Alias S. Balan, 1(1), Pune. . 1133/5, Nirankar F.C.Road, Shivaji Nagar, Pune – 411016. Pan: Aalpc 5158 J Appellant/ Assessee Respondent /Revenue Assessee By Shri M R Bhagwat – Ar Revenue By Shr Ramnath P Murkunde – Dr Date Of Hearing 08/09/2022 Date Of Pronouncement 16/11/2022 आदेश/ Order Per S.S.Godara, Jm: These Revenue’S Three Appeals For Ays 2015-16 To 2017-18 Arise Against The Commissioner Of Income Tax(Appeal)-11, Pune’S Separate Orders; All Dated 20.01.2021, Passed In Case Nos.Itba/Apl/S/250/2020-21/1029928824(1), Itba/Apl/S/ 250/2020-21/1029929977(1) & Itba/Apl/S/250/2020- 21/1029930177(1); Respectively, In Proceedings U/S.250 Of The Income Tax Act, 1961 [In Short “The Act”].

properties and the rental income as received therefrom was declared business income'. The AO held such income to be chargeable to tax under the head income, from house

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE - 1(1),, PUNE vs. BALKRISHNAN SHANMUGHAM CHETTIAR, ALIAS S. BALAN,, PUNE

Appeals are dismissed in above terms

Bench: Shri S.S.Godara & Shri Inturi Rama Raoआयकर अपीलसं. / Ita No’S.110, 111 & 112/Pun/2021 िनधा"रणवष" / Assessment Years : 2015-16, 2016-17 & 2017-18 The Asst. Commissioner Of M/S.Balkrishna Shanmugham Income Tax, Central Circle- Vs Chettiar Alias S. Balan, 1(1), Pune. . 1133/5, Nirankar F.C.Road, Shivaji Nagar, Pune – 411016. Pan: Aalpc 5158 J Appellant/ Assessee Respondent /Revenue Assessee By Shri M R Bhagwat – Ar Revenue By Shr Ramnath P Murkunde – Dr Date Of Hearing 08/09/2022 Date Of Pronouncement 16/11/2022 आदेश/ Order Per S.S.Godara, Jm: These Revenue’S Three Appeals For Ays 2015-16 To 2017-18 Arise Against The Commissioner Of Income Tax(Appeal)-11, Pune’S Separate Orders; All Dated 20.01.2021, Passed In Case Nos.Itba/Apl/S/250/2020-21/1029928824(1), Itba/Apl/S/ 250/2020-21/1029929977(1) & Itba/Apl/S/250/2020- 21/1029930177(1); Respectively, In Proceedings U/S.250 Of The Income Tax Act, 1961 [In Short “The Act”].

properties and the rental income as received therefrom was declared business income'. The AO held such income to be chargeable to tax under the head income, from house

M/S. PARMAR PROPERTIES PVT.LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 4,, PUNE

Appeal are allowed

Bench: Shri Anil Chaturvedi, Am & Shri S.S. Viswanethra Raviआयकर अपीऱ सं. / Ita Nos. 2261 & 2262/Pun/2017 नििाारण वषा / Assessment Years : 2011-12 & 2013-14

properties and the rental income as received therefrom was declared as business income. The AO held such income to be chargeable to tax under the head “Income from house