ARUNKUMAR PURSHOTAMLAL KHANNA,PUNE vs. PRINCIPAL COMMISSIONER OF INCOME-TAX (CIRCLE), PUNE

Appeal is partly allowed in above terms

Bench: Shri S. S. Godara & Shri Dr. Dipak P. Ripoteआयकर अपीऱ सं. / Ita No.181/Pun/2021 निर्धारण वर्ा / Assessment Year: 2015-16 Arunkumar Purshotamlal Vs. Pcit (Central), Pune. Khanna, Flat No.3123/3124, Clover Palisades, Nibm Road, Kondhwa, Pune- 411048. Pan : Agipk3043K Appellant Respondent

Revision proceeding be concluded on the basis of your written submissions/representations filed in this office, on or before the said due date, then your personal attendance is not required. You also have the option to file your submission from the e-filing portal using the link: incometaxindiaefiling.gov.in Sub:- Show cause notice u/s 263

VINOD RAMCHANDRA JADHAV,PUNE vs. DCIT, CC-2(1), PUNE, PUNE

In the result, the appeal filed by the Revenue is dismissed and the appeal filed by the assessee is partly allowed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2010-11 Dcit, Vinod Ramchandra Jadhav Central Circle 2(1), Vs. Plot No.42-44, Green Park Society, Pune Viman Nagar, Pune – 411014 Pan: Aanpj0592P (Appellant) (Respondent) Assessment Year : 2010-11 Vinod Ramchandra Jadhav Dcit, Plot No.42-44, Green Park Society, Vs. Central Circle 2(1), Pune Viman Nagar, Pune – 411014 Pan: Aanpj0592P (Appellant) (Respondent) Assessee By : Shri Kishor B Phadke Department By : Shri Ajay Kumar Keshari – Cit & Shri Arvind Desai, Addl Cit-Dr Date Of Hearing : 23-01-2025 Date Of Pronouncement : 21-04-2025 O R D E R

house property amounting to Rs.3,88,920, without appreciating that the said "income" was not part of any incriminating material & as such, the same could not have been assessed at the 153A stage by the learned AO. It is further contended, learned AO devised concealment penalty w.r.t. such income which didn't emanate from any search proceeding. 10. The learned

DCIT, CC-2(1), PUNE, PUNE vs. VINOD RAMCHANDRA JADHAV, PUNE

In the result, the appeal filed by the Revenue is dismissed and the appeal filed by the assessee is partly allowed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2010-11 Dcit, Vinod Ramchandra Jadhav Central Circle 2(1), Vs. Plot No.42-44, Green Park Society, Pune Viman Nagar, Pune – 411014 Pan: Aanpj0592P (Appellant) (Respondent) Assessment Year : 2010-11 Vinod Ramchandra Jadhav Dcit, Plot No.42-44, Green Park Society, Vs. Central Circle 2(1), Pune Viman Nagar, Pune – 411014 Pan: Aanpj0592P (Appellant) (Respondent) Assessee By : Shri Kishor B Phadke Department By : Shri Ajay Kumar Keshari – Cit & Shri Arvind Desai, Addl Cit-Dr Date Of Hearing : 23-01-2025 Date Of Pronouncement : 21-04-2025 O R D E R

house property amounting to Rs.3,88,920, without appreciating that the said "income" was not part of any incriminating material & as such, the same could not have been assessed at the 153A stage by the learned AO. It is further contended, learned AO devised concealment penalty w.r.t. such income which didn't emanate from any search proceeding. 10. The learned

ANIL SHRICHAND SADHWANI,NASHIK vs. ITO, WARD 2(1), NASHIK

Appeal is allowed

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.2443/Pun/2024 िनधा"रण वष" / Assessment Year: 2015-16 Anil Shrichand Sadhwani, V The Income Tax Officer, Chhatrapati Shivaji Hsg Soc, S Ward-2(1), Pune. Nashik Road, Jailroad, Nashik – 422101. Maharashtra. Pan: Annps1615D Appellant/ Assessee Respondent / Revenue Assessee By Shri Sanket M Joshi – Ar Revenue By Shri Ramnath P Murkunde – Dr Date Of Hearing 23/04/2025 Date Of Pronouncement 20/05/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: Thisappeal Filed By The Assessee Is Against The Order Of Ld.Commissioner Of Income Tax(Appeals)[Nfac], Passed Under Section 250Of The Income Tax Act, 1961; Dated 23.09.2024 For Assessment Year 2015-16. The Assessee Has Raised The Following Grounds Of Appeal : “1. The Learned Ctt(A) Erred In Confirming The Addition U/S 50C Of Rs.6,15,600 By Taxing The Appellant'S Share In Difference Between Govt. Valuation Of Rs.2,52,31,000 & Actual Consideration Of Rs 2,40,00,000 Received On Sale Of Immovable Property As Income U/S 50C Without

property was on a higher side and hence, the above addition made u/s 50C without referring the matter to the DVO was not sustainable in law. 3. The learned CIT(A) erred in sustaining the disallowance of Rs.42,38,018 claimed u/s 54F in respect of long term capital gain on the ground that the appellant had made investment

NIPRO INDIA CORPORATION P LTD ,SATARA vs. PR COMMISSIONER OF INCOME TAX -3, PUNE

In the result, the appeal of assessee is partly allowed

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

property taken on lease, name, address and PAN of lessee, amount of lease rent paid, closing balance at the end of the year if any, TDS done and rate of TDS and whether party is covered u/s. 40A(2)(b) of the Act. In reply to the said notice u/s. 142(1) of the Act, the assessee explained, vide submissions

UJWAL FINE HOMES,PUNE vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX -3, PUNE

In the result, appeal of the assessee is dismissed

Bench: Ms.Astha Chandra & Dr.Dipak P. Ripoteआयकर अपील सं. / Ita Nos.491/Pun/2024 िनधा"रण वष" / Assessment Year: 2018-19 Ujwal Fine Homes, V The Principal High Bliss, S No.23, Dhayri S Commissioner Of Income Narhe Road, Pune – 411041. Tax, Pune -3, Pune. Pan; Aabfu7293E Appellant/ Assessee Respondent / Revenue Assessee By Shri C.H.Naniwadekar – Ar Revenue By Shri Ajay Kumar Keshari – Cit(Dr) Date Of Hearing 21/11/2024 Date Of Pronouncement 28/11/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Directed Against The Order Of Ld.Principal Commissioner Of Income Tax, Pune-3, Pune U/Sec.263 Of The Income Tax Act, 1961; Dated 09.02.2024 For The A.Y.2018- 19. The Assessee Has Raised The Following Grounds Of Appeal : “1. In Issuing The Notice U/S 263 Of The Income-Tax Act, 1961 For Ay 2018-19

housing project called Ujwal Paradise. Assessment Order for A.Y.2018-19 was passed on 17/04/2021, accepting the returned income of Rs.11,32,63,182/-. 5 4.1 The relevant paragraphs of the assessment order are reproduced here as under : “3. It e-filed its return of income on 10-10-2018 admitting a total income of Rs.11,32,63,182/- vide acknowledgement

ASHISH NIRANJAN SHAH,,PUNE vs. PR. COMMISSIONER OF INCOME-TAX -4,, PUNE

In the result, appeal of the assessee is dismissed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.697/Pun/2019 िनधा"रण वष" / Assessment Year : 2014-15 Ashish Niranjan Shah, The Pr.Cit-4, Pune. 39, Mantri Court, Dr.Ambedkar V Road, Next To Rto, Sangam, S Pune – 411001. Pan: Aidps 7682 K Appellant/ Assessee Respondent /Revenue Assessee By Shri Kishor B Phadke – Ar Revenue By Shri Keyur Patel, Irs – Cit-Dr Date Of Hearing 28/07/2023 Date Of Pronouncement 13/10/2023 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Directed Against The Order Of Ld.Pr.Commissioner Of Income Tax-4, Pune Dated26.03.2019 Under Section 263 Of The Income Tax Act, 1961. The Assessee Has Raised The Following Grounds Of Appeal : “1. Learned Pr. Cit- 4, Pune Erred In Law & On Facts In Treating The Assessment Order U/S 143(3) Being Erroneous & Thereby Prejudicial To The Revenue U/S 263 Without Appreciating That, The Learned Ao Has Allowed Appellant'S Claim Of Business Loss Amounting To Rs.10,20,14,068/- Incurred On Account Of Default In Payment By Nsel, With Due Application Of Mind & Verification. The Learned Pr. Cit Erred In Holding That, Ao Has Not Carried Out Any Enquiry With Respect To Business Loss Claimed By The Appellant & Not Applied His Ashish Niranjan Shah [A]

revisable under Section 263. 21 Ashish Niranjan Shah [A] 7.3 Applying the law laid down by this Court in the case of Malabar Industrial Co. Ltd. (supra) to the facts of the case on hand and even as observed by the Commissioner, the order passed by the Assessing Officer is erroneous as well as prejudicial to the interest

BANSILAL RAMNATH AGARWAL CHARITABLE TRUST,PUNE vs. CIT (EXEMPTION), PUNE

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2020-21 Bansilal Ramnath Agarwal Charitable Trust Cit (Exemption), 251, Budhwar Peth, City Post Chowk, Vs. Pune Pune – 411002 Pan: Aaatb4383K (Appellant) (Respondent) Assessee By : Shri Kishor B Phadke Department By : Shri Amol Khairnar, Cit-Dr Date Of Hearing : 11-12-2025 Date Of Pronouncement : 28-01-2026 O R D E R Per R.K. Panda, V.P:

u/s 263 of the Act unless the order is erroneous. The relevant observations of Hon’ble High Court read as under: “7. Moreover the CIT in exercise of powers under Section 263 of the Act directed the Assessing Officer to redetermine the rebate allowable under Section 88E of the Act after holding that the same needs more careful examination

SMT. SANGEETA GANPATI JADHAV,PUNE vs. CHIEF COMMISSIONER OF INCOME TAX, PUNE

The appeal stands allowed

Bench: Shri Ss Viswanethra Ravi & Shri G. D. Padmahshaliआयकर अपीऱ सं. / Ita No. 123/Pun/2021 निर्धारण वर्ा / Assessment Year : 2015-2016 Smt. Sangeeta Ganpati Jadhav D-406, Neha Co-Op. Society, Sus, Pune-411045. . . . . . . . अपीऱधर्थी / Appellant Pan : Aefpj8933A बनाम / V/S. Chief Commissioner Of Income Tax, . . . . . . . प्रत्यर्थी / Respondent Pune. द्वारा / Appearances Assessee By : Shri Dhananjay Barve Revenue By : Shri Sardar Singh Meena. सुनवाई की तारीख / Date Of Conclusive Hearing : 08/09/2022 घोषणा की तारीख / Date Of Pronouncement : 14/10/2022 आदेश / Order Per G. D. Padmahshali, Am; The Present Appeal Of The Assessee Is Agitated Against The Order Of Chief Commissioner Of Income Tax-(Pr-Cit-2), Pune [For Short “Ccit”] Dt. 17/02/2021 Passed U/S 263 Of The Income-Tax Act, 1961 [For Short “The Act”], Which Dove Out Of The Order Assessment Passed U/S 143(3) By Asstt. Cit, Circle-4 Pune [For Short “Ao”] Vide Order Dt. 21/12/2017, For Assessment Year [For Short “Ay”] 2015-16. Itat-Pune Page 1 Of 17

263 of the Act. 3. Tersely stated the facts of the case are; the assessee is an individual deriving income from salaries, house property, capital gains and other sources etc., has for AY 2015-16 e-filed her return of income [for short “ITR”] on 26/08/2015 declaring total income of ₹20,76,520/- after a claim of chapter

VILAS KEDU BIRARI,,NASHIK vs. PR. COMMISSIONER OF INCOME-TAX -1,, NASHIK

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

u/s 263 of the Income Tax Act, 1961. 2. On the facts and in the circumstances of the case the Pr. CIT -1, Nashik, is not justified in stating that Assessment Order is erroneous and prejudicial to the interest of the revenue. 3. On the facts and in the circumstances of the case the Pr. CIT -1, Nashik, has erred

MICHELLE Y. POONAWALLA,PUNE vs. DCIT, CIRCLE-7, PUNE, PUNE

In the result, the appeals of the assessee for both the AYs 2013-14

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

revise the assessment order for AY 2013-14 dated 31.12.2015 by disallowing claim of Rs.1,22,59,620/-. Statutory notice u/s 143(2) r.w.s. 263 of the Act was issued to the assessee, in response to which the assessee submitted her reply on 08.08.2018. 3.1 For AY 2017-18, the assessee filed her e-return of income on 01.08.2017 declaring

MICHELLE Y. POONAWALLA,PUNE vs. DCIT-CIR-7, PUNE , PUNE

In the result, the appeals of the assessee for both the AYs 2013-14

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

revise the assessment order for AY 2013-14 dated 31.12.2015 by disallowing claim of Rs.1,22,59,620/-. Statutory notice u/s 143(2) r.w.s. 263 of the Act was issued to the assessee, in response to which the assessee submitted her reply on 08.08.2018. 3.1 For AY 2017-18, the assessee filed her e-return of income on 01.08.2017 declaring

LUNAWAT LANDMARKS,PUNE vs. PRINCIPAL COMMISSIONER OF INCOME-TAX -2, PUNE

In the result, the appeal of assessee is allowed

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

House Property”. He reiterated that the assessee treated the said unsold flats as stock-in-trade in the Balance sheet and taxable on its sale in the next subsequent years as business income. The ld. DR did not dispute the treatment of unsold flats as stock- in-trade by the assessee and also offering as same as business income

EATON TECHNOLOGIES PRIVATE LIMITED,PUNE vs. PRINCIPAL COMMISSIONER OF INCOME TAX, PUNE

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

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

house property 9. Reduction in profit due to ICDS 10. International transaction(s) 11. Loss from currency fluctuations 03. The assessment was completed u/s 143(3) r.w.s. 144C(13) r.w.s 144B of the Income Tax Act, 1961 on 26/02/2022 determining total income of Rs.455,25,53,250/- (Rs.722,11,90,423/- as per computation sheet). 04. On subsequent review

ACIT, CENTRAL CIRCLE-1, NASHIK, NASHIK vs. RAJENDRA RASIKLAL SHAH, NASHIK

In the result, the appeal of the Revenue is dismissed

House\n5\nITA No.1016/PUN/2024\nRajendra Rasiklal Shah\n(India) Pvt. Ltd. reported in (2017) 391 ITR 154 (P&H). While concluding, Ld. Counsel for the assessee also referred to the affidavit of the vendor, No.4 i.e. seller of the property Milind Balasaheb Kale affirming the receipt of the part consideration through banking channel on 08.01.1997. He therefore prayed that

TEJASHREE ATUL PATIL,PUNE vs. PR.CIT - 2, PUNE

In the result, appeal of the assessee is dismissed

Bench: Dr.Manish Borad & Shri Vinay Bhamore

u/s 54F for the second house property purchased on 24.05.2015 3. In this regard, an opportunity of being heard s being provided to you on 01.03.2024 at 03.00 PM. You are requested to make your submissions along with documentary evidences in support of your contention." 5. Assessee duly responded to the show cause notices and furnished the information about

SHERGIL HARJIT,AHMEDNAGAR vs. PR COMMISSIONER OF INCOME-TAX-1, PUNE

In the result, the appeal of the assessee is allowed

Bench: Shri Inturi Rama Rao, Am & Shri Partha Sarathi Chaudhury, Jm आयकर अपील सं. / Ita No.170/Pun/2021 िनधा"रण वष" / Assessment Year : 2015-16 Shergil Harjit, 6, Penton Road, Opp. Moti Buag, Officer’S Enclave, Ahmednagar Camp, Ahmednagar- 414002. .......अपीलाथ" / Appellant Pan : Evhps1971N बनाम / V/S. Pr. Cit-1, ……""यथ" / Respondent Pune. Assessee By : Shri Prasad Bhandari Revenue By : Shri Subhakant Sahu सुनवाई क" तारीख / Date Of Hearing : 18.01.2022 घोषणा क" तारीख / Date Of Pronouncement : 20.01.2022 आदेश / Order Per Partha Sarathi Chaudhury, Jm: This Appeal Preferred By The Assessee Emanates From The Order Of The Ld. Pr.Cit-1, Pune Dated 17.03.2021 For The Assessment Year 2015-16 As Per The Following Grounds Of Appeal On Record :- “1. On The Facts & In The Prevailing Circumstances Of The Case, Respected Pcit – Pune -1 Erred Passing The Impugned Revision Order Under Section 263 As The Original Assessment Order Under Section 143(3) Was Passed After Full Satisfaction Of The Ld. Assessing Officer. Hence, The Impugned Order Under Section 263 May Please Be Squashed. 2. On The Facts & In The Prevailing Circumstances Of The Case, Respected Pcit, Pune -1 Erred Passing The Impugned Revision Order Under Section 263 Ex- Parte Inspite Of Duly Filed Submissions By The Assessee Before Time. Thus, The Order Passed Without Considering The Submissions Of The Assessee May Please Be Treated As Bad In Law & Hence, The Impugned Order Under Section 263 May Please Be Squashed. 3. The Appellate Craves The Permission To Add, Amend, Modify, Alter, Revise, Substitute, Delete Any Or All Grounds Of The Appeal, If Deemed Necessary At The Time Of Hearing Of The Appeal.”

revise, substitute, delete any or all grounds of the appeal, if deemed necessary at the time of hearing of the appeal.” 2 2. The facts, in brief, are that the assessee had filed return of income for A.Y. 2015-16 on 22.11.2016 declaring total income of Rs.4,52,490/-. The assessment was completed u/s 143(3) of the Act. That

RAJENDRA RAMESHLAL GUGALE,PUNE vs. PRINICIPAL COMMISSIONER OF INCOME TAX (CENTRAL), PUNE, PUNE

In the result, appeal of the assessee is allowed

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

House No.B12, Income Tax (Central), Aayakar vs. Pune-Satara Road, Sadan, Bodhi Towers, Salisbury Bibwewadi, PUNE. Park, PUNE – 411 037. PIN – 412 202. Maharashtra. Maharashtra. PAN ABFPG6929E (Appellant) (Respondent) For Assessee : Shri Nikhil Pathak For Revenue : Shri Ajay Kumar Keshari, CIT Date of Hearing : 27.11.2024 Date of Pronouncement : 30.12.2024 ORDER PER RAMA KANTA PANDA, V.P. : This appeal filed

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

u/s. 263 for the abovementioned issues be held to be unwarranted, unjustified, and contrary to the provisions of the Act. The order so for the above mentioned issues passed be cancelled. 2. The appellant prays to be allowed to add, amend, modify, rectify, delete, raise any grounds of appeal at the time of hearing.” 4. The assessee’s ground no.2