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”].

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

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”].

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

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.

Housing Development Company v. JCIT [165 ITD 76 [Bang.)] wherein the Hon’ble Tribunal had approved the reliance on the AS- 4and observed that in the case of joint development agreement, the profitability depends on the progress of the construction activity. The Hon’ble Tribunal therefore observed that the profitability of the company can be very well judged in advance

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.

Housing Development Company v. JCIT [165 ITD 76 [Bang.)] wherein the Hon’ble Tribunal had approved the reliance on the AS- 4and observed that in the case of joint development agreement, the profitability depends on the progress of the construction activity. The Hon’ble Tribunal therefore observed that the profitability of the company can be very well judged in advance

RAGBIRSINGH MALIKSINGH RAJPAL,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, the appeal of assessee is allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.1100/Pun/2016 यििाारण वषा / Assessment Year : 2007-08

house property’. The Assessing Officer noted that the building which has been given on license is part of stock-in-trade of assessee and therefore, receipts from the same should have been offered as ‘Income from other sources’. The Assessing Officer then, accordingly, assessed the same under section 56 of the Act. 5. The CIT(A) has upheld the order

ATUL JAIPRAKASH GOEL,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 2,, PUNE

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita No.474/Pun/2018 "नधा"रण वष" / Assessment Year : 2010-11

111 (Bom.) has dealt with a similar issue and held that the rental income received from unsold portion of the property constructed by the assessee, a real estate developer, is assessable as ‘Income from house property’. The facts of the instant case are on all fours with the case before the Hon’ble Bombay High Court. No contrary decision

LAXMINARAYAN RAMSWARUP MANIYAR,JALGAON vs. CIRCLE-1, JALGAON, JALGAON

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

Bench: Shri Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.1203/Pun/2025 िनधा"रण वष" / Assessment Year : 2021-22 Laxminarayan Ramswarup Vs. Acit, Circle-1, Jalgaon. Maniyar, Sitaram Ramswarup, 105, Polan Peth, Dana Bazar, Jalgaon- 425001. Pan : Aaqpm9220L Appellant Respondent Assessee By : Shri Vinay V. Kawdia Revenue By : Shri Harshit Bari Date Of Hearing : 21.08.2025 Date Of Pronouncement : 12.11.2025 आदेश / Order Per Vinay Bhamore, Jm: This Appeal Filed By The Assessee Is Directed Against The Order Dated 13.03.2025 Passed By Ld. Cit(A)/Nfac For The Assessment Year 2021-22. 2. The Assessee Has Raised The Following Grounds Of Appeal :- “1) In The Absence Of Conditions Precedent For Invoking Provisions Of S. 143(1)(A)(Iii) Of The Act, The Learned Cit(A), Nfac Has Erred In Confirming The Adjustment Of Rs. 8,03,196/- Made By Cpc U/S 143(1)(A)(Iii) Of The Act By Denying The Set Off Of Brought Forward Unabsorbed Depreciation Of Earlier Years Against Current Years Income.

111/-). The assessee is fully eligible for set off and the same may please be allowed in full. 3) The appellant craves the permission to add, amend, modify, alter, revise, substitute, delete any or all grounds of appeal, if deemed necessary at the time of hearing of the appeal.” 3. Facts of the case, in brief, are that the assessee

RAJENDRA L.AGARWAL,,PUNE vs. INCOME-TAX OFFICER, (INTERNATIONAL TAXATION -I),, PUNE

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं आयकर अपील सं. / Ita No. 2330/Pun/2017 आयकर अपील सं आयकर अपील सं िनधा"रण वष" / Assessment Year : 2012-13 िनधा"रण वष" िनधा"रण वष" िनधा"रण वष"

Housing Society. It is undisputed fact. Therefore, 10 Shri Rajendra L. Agarwal we are of the opinion that in principle, the claim of the assessee should be allowed on the enhancement which was considered by the AO. However, the same is subject to the verification of the evidence and documents filed by assessee before the Assessing Officer during remand proceedings

M.M. PATEL PUBLIC CHARITABLE TRUST,SOLAPUR vs. PCIT- CENTRAL, PUNE, PUNE

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

111\ntaxmann.com 235 (Delhi Trib.)\n11. We have heard the rival contentions at length and perused\nthe record placed before us. The assessee which is a Public\nCharitable Trust and running a Medical College, Hospital and\nResearch Centre was subjected to search u/s.132 of the Act\ncarried out on 25.08.2022 and certain documents alleged to be\nincriminating in nature were

M/S. CITY CORPORATION LIMITED,PUNE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), PUNE

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

Bench: Shri R. K. Panda & Shri Vinay Bhamore

property and construction of residential and commercial buildings. It filed its return of income on 29.09.2011 declaring total income of Rs.119,8,31,267/- after claiming deduction of Rs.1,02,32,288/- u/s 80IB(10) of the Income Tax Act, 1961 (hereinafter referred to as „the Act‟). The case was selected for scrutiny and accordingly, statutory notices

M/S. CITY CORPORATION LIMITED,PUNE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), PUNE

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

Bench: Shri R. K. Panda & Shri Vinay Bhamore

property and construction of residential and commercial buildings. It filed its return of income on 29.09.2011 declaring total income of Rs.119,8,31,267/- after claiming deduction of Rs.1,02,32,288/- u/s 80IB(10) of the Income Tax Act, 1961 (hereinafter referred to as „the Act‟). The case was selected for scrutiny and accordingly, statutory notices

SHRI VINAY BADERA,PUNE vs. ACIT CIRCLE 3, PUNE

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2017-18 Shri Vinay Badera Acit, Circle 3, Pune 303, Rohan Tapovan, Sb Road, Vs. Gokhale Nagar, Pune – 411016 Pan: Abjpb1324J (Appellant) (Respondent) Assessee By : Shri B.S. Rajpurohit Department By : Shri Arvind Desai, Addl Cit-Dr Date Of Hearing : 30-01-2025 Date Of Pronouncement : 18-03-2025 O R D E R

section 57(iii) of the Act, any other expenditure (not being in the nature of capital expenditure) laid out or expended wholly and exclusively for the purpose of making or earning such income, is allowed as deduction against income shown as ‘Income from other sources’. He, therefore, asked the assessee to furnish the details of deductions claimed u/s 57 along

DEPUTY COMMISSIONER OF INCOME-TAX vs. SHRI DEVENDRA P. SHAH,, PUNE

In the result, all the appeals of the assessee are partly allowed for

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं./ Ita Nos. 675 To 679/Pun/2016 िनधा#रण वष# / Assessment Years : 2007-08 To 2011-12

house property Cash payment to 10,00,000 -- -- -- -- Shrushti Sangam Assessed Income 3,97,46,150 3,20,49,181 2,78,75,690 2,95,00,657 1,66,66,843 3 Devendra P. Shah A.Yrs. 2007-08 to 2011-12 2.1 Referring to the additions made by the AO, giving the fate of these additions before

DEVENDRA P. SHAH,,PUNE vs. DEPUTY OMMISSIONER OF INCOME-TAX,,

In the result, all the appeals of the assessee are partly allowed for

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं./ Ita Nos. 675 To 679/Pun/2016 िनधा#रण वष# / Assessment Years : 2007-08 To 2011-12

house property Cash payment to 10,00,000 -- -- -- -- Shrushti Sangam Assessed Income 3,97,46,150 3,20,49,181 2,78,75,690 2,95,00,657 1,66,66,843 3 Devendra P. Shah A.Yrs. 2007-08 to 2011-12 2.1 Referring to the additions made by the AO, giving the fate of these additions before

DEPUTY COMMISSIONER OF INCOME-TAX vs. SHRI DEVENDRA P. SHAH,, PUNE

In the result, all the appeals of the assessee are partly allowed for

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं./ Ita Nos. 675 To 679/Pun/2016 िनधा#रण वष# / Assessment Years : 2007-08 To 2011-12

house property Cash payment to 10,00,000 -- -- -- -- Shrushti Sangam Assessed Income 3,97,46,150 3,20,49,181 2,78,75,690 2,95,00,657 1,66,66,843 3 Devendra P. Shah A.Yrs. 2007-08 to 2011-12 2.1 Referring to the additions made by the AO, giving the fate of these additions before

DEPUTY COMMISSIONER OF INCOME-TAX vs. SHRI DEVENDRA P. SHAH,, PUNE

In the result, all the appeals of the assessee are partly allowed for

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं./ Ita Nos. 675 To 679/Pun/2016 िनधा#रण वष# / Assessment Years : 2007-08 To 2011-12

house property Cash payment to 10,00,000 -- -- -- -- Shrushti Sangam Assessed Income 3,97,46,150 3,20,49,181 2,78,75,690 2,95,00,657 1,66,66,843 3 Devendra P. Shah A.Yrs. 2007-08 to 2011-12 2.1 Referring to the additions made by the AO, giving the fate of these additions before

DEVENDRA P. SHAH,,PUNE vs. DEPUTY OMMISSIONER OF INCOME-TAX,,

In the result, all the appeals of the assessee are partly allowed for

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं./ Ita Nos. 675 To 679/Pun/2016 िनधा#रण वष# / Assessment Years : 2007-08 To 2011-12

house property Cash payment to 10,00,000 -- -- -- -- Shrushti Sangam Assessed Income 3,97,46,150 3,20,49,181 2,78,75,690 2,95,00,657 1,66,66,843 3 Devendra P. Shah A.Yrs. 2007-08 to 2011-12 2.1 Referring to the additions made by the AO, giving the fate of these additions before

DEPUTY COMMISSIONER OF INCOME-TAX vs. SHRI DEVENDRA P. SHAH,, PUNE

In the result, all the appeals of the assessee are partly allowed for

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं./ Ita Nos. 675 To 679/Pun/2016 िनधा#रण वष# / Assessment Years : 2007-08 To 2011-12

house property Cash payment to 10,00,000 -- -- -- -- Shrushti Sangam Assessed Income 3,97,46,150 3,20,49,181 2,78,75,690 2,95,00,657 1,66,66,843 3 Devendra P. Shah A.Yrs. 2007-08 to 2011-12 2.1 Referring to the additions made by the AO, giving the fate of these additions before

DEVENDRA P. SHAH,,PUNE vs. DEPUTY OMMISSIONER OF INCOME-TAX,,

In the result, all the appeals of the assessee are partly allowed for

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं./ Ita Nos. 675 To 679/Pun/2016 िनधा#रण वष# / Assessment Years : 2007-08 To 2011-12

house property Cash payment to 10,00,000 -- -- -- -- Shrushti Sangam Assessed Income 3,97,46,150 3,20,49,181 2,78,75,690 2,95,00,657 1,66,66,843 3 Devendra P. Shah A.Yrs. 2007-08 to 2011-12 2.1 Referring to the additions made by the AO, giving the fate of these additions before