ALNESH AKIL SOMJI,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX, PUNE

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

Bench: Shri R. K. Panda & Ms Astha Chandra

loss has been carried forward to the succeeding years. In view of this the Assessing Officer disallowed the claim of deduction of Rs.2 lakh on account of interest paid on self occupied house property

JAYNT VASUDEO ARADHYE,SOLAPUR vs. DCIT, CIRCLE-1, SOLAPUR, SOLAPUR

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.683/Pun/2024 िनधा"रण वष" / Assessment Year: 2022-23 Jaynt Vasudeo Aradhye, Vs. Dcit, Circle-1, Solapur. Villa No.25, Indradhanu, Laxmi Peth, Vishnu Mill Compound, Solapur- 413001. Pan : Aappa8903M Appellant Respondent Assessee By : Shri Deepak Chintaman Gadgil Revenue By Shri Ramnath P. Murkunde : Date Of Hearing 06.08.2024 : Date Of Pronouncement : 21.10.2024 आदेश / Order Per Vinay Bhamore, Jm: This Appeal Filed By The Assessee Is Directed Against The Order Dated 07.02.2024 Passed By Ld. Addl./Jcit(A)-1, Coimbatore For The Assessment Year 2022-23 2. The Appellant Has Raised The Following Grounds Of Appeal :- “I. The Cpc Was Not Correct Both Factually & Legally In Not Considering The Claim Of Brought Forwarded Short Term Capital Loss Of Rs 27,78,028/-. 11. Section 143(1) As It Stands On The Statute Books As On Today, Does Not Permit Either Cpc Or The Ao To Make Such Adjustments As They Are Beyond The Scope Of The Said Section.

carried forward or depreciation from any earlier assessment year, if such loss or depreciation is attributable to any of the deductions referred to in clause (i); (b) under the head "Income from house property

VINEET PRAKASH POL,NASHIK vs. ACIT CIRCLE-1, NASHIK

In the result, appeal of the assessee is partly allowed

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.302/Pun/2025 िनधा"रण वष" / Assessment Year: 2015-16 Vineet Prakash Pol, V The Acit, F-16, Midc, Ambad, S. Circle-1, Nashik. Nashik – 422010. Maharashtra. Pan: Abkpp4357J Appellant/ Assessee Respondent / Revenue Assessee By Shri Sanket Joshi – Ar Revenue By Shri Vinod Pawar – Addl.Cit(Dr) Date Of Hearing 08/05/2025 Date Of Pronouncement 26/05/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Of Ld.Commssioner Of Income Tax(Appeal)[Nfac] Passed Under Section 250 Of The Act, Dated31.01.2024For The A.Y.2015-16. The Assessee Has Raised The Following Grounds Of Appeal : “1. The Learned Cit(A) Erred In Confirming The Disallowance Of Rs.13,81,195 Out Of The Total Disallowance Of Rs.30,74,834 Made By The A.O In Respect Of Interest Paid To Partnership Firms On Loans Obtained From Them Without Appreciating That The Said Disallowance Was Not Justified On Facts & In Law. 2. The Learned Cit(A) Ought To Have Appreciated That While

carry forward of balance interest of Rs. 13,54,436 as business loss to subsequent years. Thus, it is prayed that the A.O. may be directed that while computing the total income for A.Y.2015-16, the quantum of disallowance/ addition to returned income should be restricted to Rs.26.759 [as against disallowance of Rs. 13.81,195 confirmed by CIT(A)]. Thus, after

ASSISTANT 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

carried forward under this section for more than [four] assessment years immediately succeeding the assessment year for which the loss was first computed. Explanation.— Where any part of the business of a company ([other than a' company whose gross total income consists mainly of income which is chargeable under the heads ―Interest on securities‖, ―Income from house property

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

carried forward under this section for more than [four] assessment years immediately succeeding the assessment year for which the loss was first computed. Explanation.— Where any part of the business of a company ([other than a' company whose gross total income consists mainly of income which is chargeable under the heads ―Interest on securities‖, ―Income from house property

DEPUTY COMMISSSIONER OF INCOME TAX, CIRCLE -1,, AURANGABAD 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

carried forward under this section for more than [four] assessment years immediately succeeding the assessment year for which the loss was first computed. Explanation.— Where any part of the business of a company ([other than a' company whose gross total income consists mainly of income which is chargeable under the heads ―Interest on securities‖, ―Income from house property

ALNESH MOHAMADAKIL SOMJI,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX, PUNE

Bench: Shri R. K. Panda & Ms Astha Chandra

loss has been carried forward to the succeeding years. In view of this the Assessing Officer disallowed the claim of deduction of Rs.2 lakh on account of interest paid on self occupied house property

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

properties. It belongs to Gera Group of cases. Assessee filed the return of income on 31-10-2005 for the A.Y. 2005-06 declaring Nil income by setting off of brought forward losses and claimed Rs.1,26,14,888/- to be carry forward to the next year. There was survey action u/s.133A of the Act on 24-01-2007. During

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

properties. It belongs to Gera Group of cases. Assessee filed the return of income on 31-10-2005 for the A.Y. 2005-06 declaring Nil income by setting off of brought forward losses and claimed Rs.1,26,14,888/- to be carry forward to the next year. There was survey action u/s.133A of the Act on 24-01-2007. During

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

loss of Rs.7,15,951/-. In scrutiny assessment proceedings, the Assessing Officer made addition of Rs.75,50,995/- under the head „Income from House Property‟ on account of notional rent in respect of unsold residential units held as stock-in-trade. The ld. AR pointed that the assessee was holding unsold units as stock-in-trade, which partake the character

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

loss of Rs.7,15,951/-. In scrutiny assessment proceedings, the Assessing Officer made addition of Rs.75,50,995/- under the head „Income from House Property‟ on account of notional rent in respect of unsold residential units held as stock-in-trade. The ld. AR pointed that the assessee was holding unsold units as stock-in-trade, which partake the character

RADHESHAM TOTARAM NARAYANI,,NANDURBAR vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

In the result, appeal of the assessee is partly allowed

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

house property Uss galli 5,00,000/- Total 14,74,542/- In the return, the assessee determined the current year business loss of Rs.4,15,951/- and brought forward losses of Rs.4,82,585/- for A.Y. 2009-10 and reduced the disclosed income by the said losses. Assessee reported earning of income from other sources. 4. During the assessment proceedings

INCOME TAX OFFICER, PUNE vs. PRAKASH RAMKRISHNA POPHALE, PUNE

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2017-18

loss computation statement (iii) Submission filed on 3-7-2019 giving the following details: (Page 81) (a) Evidence regarding cost of improvement 1. AO has given a wrong finding that appellant sold a plot of land and purchased a new plot of land. In fact the appellant sold a residential house property and purchased a new residential house property

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’

carried out w.e.f. 1.4.2018 and the Memorandum explaining the provisions of the Finance Bill also clearly provides that this amendment will take effect from 01.04.2018 and will, accordingly apply in relation to the assessment year 2018-19 and subsequent years. Obviously, it is a prospective amendment. The effect of this amendment is that stock-in-trade of buildings etc. shall

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

In the result, the appeal of the assessee is allowed

loss account of the assessee is Rs. 3,83,92,477/-. Following the decision of Hon’ble Delhi High Court Vs. Ansal Housing Finance and Leading Company and Hon’ble Allahabad High 2. In this case the assessee has also filed additional grounds of appeal. The additional ground No. 1 is taken along with grounds

MANOJ SURESH TATOOSKAR,PUNE vs. CIRCLE 1(1) , PUNE

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

Bench: Dr.Manish Borad

loss in the individual business against the share of the profits of a firm in which he was a partner taking over business as a running concern. The Division Bench, answering the question in favour of the assessee, posed a crucial question, whether a business which has been carried on by a partnership can be regarded as business carried

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.

loss. The CIT(A) had calculated the impugned business income as positive income. The Assessee gets fixed deduction under the head ‘Income From House Property’ without any evidence of repairs but once the Income is treated as business income the deductions is not automatic . Thus, there is definitely enhancement. Therefore, the CIT(A) was duty bound to follow procedure laid

VASCON ENGINEERS LTD (SUCCESSOR TO ANGELICA PROPERTIES PVT. LTD.),PUNE vs. ADDITIONAL COMMISSIONER OF INCOME-TAX,, PUNE

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.

loss. The CIT(A) had calculated the impugned business income as positive income. The Assessee gets fixed deduction under the head ‘Income From House Property’ without any evidence of repairs but once the Income is treated as business income the deductions is not automatic . Thus, there is definitely enhancement. Therefore, the CIT(A) was duty bound to follow procedure laid