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

dividend income on the shares or interest income on the deposits. Even otherwise, this question was not 4 raised before the subordinate Tribunals and, all of sudden, the Tribunal started applying the analogy. 9. From the statement of the assessee, it would clearly appear that it was treating the property as 'stock-in-trade’. Not only this, it will also

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

deemed income arising from unsold stock in trade is assessable under the head profits and gains from business or profession and not under the head Income from House Property. The addition made under the head Income from House property is unwarranted, unjustified, contrary to the provisions of the Act and facts prevailing in the case. The addition so made

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

deemed income arising from unsold stock in trade is assessable under the head profits and gains from business or profession and not under the head Income from House Property. The addition made under the head Income from House property is unwarranted, unjustified, contrary to the provisions of the Act and facts prevailing in the case. The addition so made

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

deem it proper to restore the issue to the file of the Assessing Officer with a direction to grant one final opportunity to the assessee to substantiate his claim of interest expenditure of Rs.2 lakh on account of borrowed capital for self occupied house property and decide the issue as per fact and law. We hold and direct accordingly

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.

deemed dividend are not at all attracted in the present case since section 2(22)(e) envisages loans / advances by the Company to its shareholders and not the other way round; (ii) In the present transactions the Shareholders of the Assessee company had given loans / advances to it and therefore there was no question of applicability of section

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 is justified, the assessee submits that the deduction u/s 24 and municipal taxes may be allowed to the assessee while computing the annual value of the various units.” 3. Before us, at the outset, Ld.A.R. submitted that ground Nos.1 to 7 are inter-connected and are with respect to disallowance u/s 14A of the Act and ground Nos.8

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

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 PER R. K. PANDA, VP : This appeal filed by the assessee is directed

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

In the result, the appeal of the assessee is allowed

dividend income on the shares or interest income on the deposits. Even otherwise, this question was not raised before the subordinate Tribunals and, all of sudden, the Tribunal started applying the analogy. 9. From the statement of the assessee, it would clearly appear that it was treating the property as 'stock-in- trade'. Not only this, it will also

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

dividend income on the shares or interest income on the deposits. Even otherwise, this question was not raised before the subordinate Tribunals and, all of sudden, the Tribunal started applying the analogy. 9. From the statement of the assessee, it would clearly appear that it was treating the property as 'stock-in-trade’. Not only this, it will also

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE -7, , PUNE vs. APOORVA ASHOKKUMAR PATNI,, PUNE

In the result, the appeals filed by the Revenue in ITA Nos

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

house property’. This 6 finding of the ld. CIT(A) is inconsonance with the decision of the Hon’ble Supreme Court in the case of Chelmsford Club vs. CIT, 243 ITR 89 (SC) wherein the Hon’ble Supreme Court held that :- “A conjoint reading of sections 2(24), 14, 22 and 23 also makes it abundantly clear that what

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE -7, , PUNE vs. ARIHANT PATNI,, PUNE

In the result, the appeals filed by the Revenue in ITA Nos

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

house property’. This 6 finding of the ld. CIT(A) is inconsonance with the decision of the Hon’ble Supreme Court in the case of Chelmsford Club vs. CIT, 243 ITR 89 (SC) wherein the Hon’ble Supreme Court held that :- “A conjoint reading of sections 2(24), 14, 22 and 23 also makes it abundantly clear that what

DEPUTY COMMISSONER OF INCOME TAX , CIRCLE -7 , PUNE , PUNE vs. SHRUTI ARIHANT PATNI, PUNE

In the result, the appeals filed by the Revenue in ITA Nos

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

house property’. This 6 finding of the ld. CIT(A) is inconsonance with the decision of the Hon’ble Supreme Court in the case of Chelmsford Club vs. CIT, 243 ITR 89 (SC) wherein the Hon’ble Supreme Court held that :- “A conjoint reading of sections 2(24), 14, 22 and 23 also makes it abundantly clear that what

DEPUTY COMMISSIONER OF INCOME TAX , CIRCLE - 7, PUNE, PUNE vs. ASHOKKUMAR SOBHAGMAL, PATNI

In the result, the appeals filed by the Revenue in ITA Nos

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

house property’. This 6 finding of the ld. CIT(A) is inconsonance with the decision of the Hon’ble Supreme Court in the case of Chelmsford Club vs. CIT, 243 ITR 89 (SC) wherein the Hon’ble Supreme Court held that :- “A conjoint reading of sections 2(24), 14, 22 and 23 also makes it abundantly clear that what

DEPUTY COMMISSIONER OF INCOME TAX , CIRCLE -7 ,PUNE, PUNE vs. AMITKUMAR GAJENDRAKUMAR PATNI, PUNE

In the result, the appeals filed by the Revenue in ITA Nos

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

house property’. This 6 finding of the ld. CIT(A) is inconsonance with the decision of the Hon’ble Supreme Court in the case of Chelmsford Club vs. CIT, 243 ITR 89 (SC) wherein the Hon’ble Supreme Court held that :- “A conjoint reading of sections 2(24), 14, 22 and 23 also makes it abundantly clear that what

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE -7, , PUNE vs. SHRUTI ARIHANT PATNI,, PUNE

In the result, the appeals filed by the Revenue in ITA Nos

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

house property’. This 6 finding of the ld. CIT(A) is inconsonance with the decision of the Hon’ble Supreme Court in the case of Chelmsford Club vs. CIT, 243 ITR 89 (SC) wherein the Hon’ble Supreme Court held that :- “A conjoint reading of sections 2(24), 14, 22 and 23 also makes it abundantly clear that what

DEPUTY COMMISSIONER OF INCOME TAX , CIRCLE -7 , PUNE, PUNE vs. ARIHANT PATNI , PUNE

In the result, the appeals filed by the Revenue in ITA Nos

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

house property’. This 6 finding of the ld. CIT(A) is inconsonance with the decision of the Hon’ble Supreme Court in the case of Chelmsford Club vs. CIT, 243 ITR 89 (SC) wherein the Hon’ble Supreme Court held that :- “A conjoint reading of sections 2(24), 14, 22 and 23 also makes it abundantly clear that what

DEPUTY COMMISSIONER OF INCOME TAX ,CIRCLE - 7 , PUNE, PUNE vs. APOORVA ASHOKKUMAR PATNI, PUNE

In the result, the appeals filed by the Revenue in ITA Nos

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

house property’. This 6 finding of the ld. CIT(A) is inconsonance with the decision of the Hon’ble Supreme Court in the case of Chelmsford Club vs. CIT, 243 ITR 89 (SC) wherein the Hon’ble Supreme Court held that :- “A conjoint reading of sections 2(24), 14, 22 and 23 also makes it abundantly clear that what

ARIHANT PATNI,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 7,, PUNE

In the result, the appeals filed by the Revenue in ITA Nos

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

house property’. This 6 finding of the ld. CIT(A) is inconsonance with the decision of the Hon’ble Supreme Court in the case of Chelmsford Club vs. CIT, 243 ITR 89 (SC) wherein the Hon’ble Supreme Court held that :- “A conjoint reading of sections 2(24), 14, 22 and 23 also makes it abundantly clear that what

DEPUTY COMMISSIONER OF INCOME TAX , CIRCLE - 7 , PUNE, PUNE vs. VASUNDHARA APPORVA PATNI, PUNE

In the result, the appeals filed by the Revenue in ITA Nos

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

house property’. This 6 finding of the ld. CIT(A) is inconsonance with the decision of the Hon’ble Supreme Court in the case of Chelmsford Club vs. CIT, 243 ITR 89 (SC) wherein the Hon’ble Supreme Court held that :- “A conjoint reading of sections 2(24), 14, 22 and 23 also makes it abundantly clear that what