INCOME AX OFFICER, WARD-6(1), PUNE vs. SAMBHAJI MARUTI KATKAR, PUNE

Bench: Shri Rama Kanta Panda & Shri Satbeer Singh Godara

section 54. CIT v Sh. Mahadev Balai ITA 136/2017 (Raj HC) The Hon'ble HC allowed exemption u/s 54B for investment made by the assessee in the name of his wife. 5.4. In view of the above the appellant is allowed 100% of the admissible claim of deduction u/s 54F. This ground of appeal is allowed. 5.5. Ground of Appeal

MR. SAMBHAJI MARUTI KATKAR,PUNE vs. ITO, WARD 6(1), PUNE, PUNE

Bench: Shri Rama Kanta Panda & Shri Satbeer Singh Godara

section 54. CIT v Sh. Mahadev Balai ITA 136/2017 (Raj HC) The Hon'ble HC allowed exemption u/s 54B for investment made by the assessee in the name of his wife. 5.4. In view of the above the appellant is allowed 100% of the admissible claim of deduction u/s 54F. This ground of appeal is allowed. 5.5. Ground of Appeal

SHIVAJI RAMDAS SAKHARE,PUNE vs. INCOME-TAX OFFICER, WARD - 2(4), PUNE

Appeal is dismissed in above terms

Bench: Shri S.S.Godara, Jm & Shri Dr. Dipak P. Ripote, Am आयकर अपीऱ सं. / Ita No.1567/Pun/2017 ननधधारण वषा / Assessment Year : 2012-13 Shivaji Ramdas Sakhare, Survey No.87/1/1(P), Sakhare Wasti, Hinjewadi, Mulshi, Pune- 412 106. .......अपऩलधथी / Appellant Pan : Awnps8232K बनधम / V/S. ……प्रत्यथी / Respondent Ito, 2(4), Pune Assessee By : None Revenue By : Shri S. P. Walimbe

house property was completed.” 3. Mr. Walimbe invited our attention to the CIT(A) detail discussion affirming the Section 54F deducting disallowance of Rs. 93,05,492/- as follows. “4. The only issue raised in the sole ground of appeal is against disallowance of deduction claimed by the appellant u/s. 54F of the Act. Facts in this regard are that

RAMDAS SITARAM PATIL,KOLHAPUR vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE,, KOLHAPUR

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

Bench: Shri Inturi Rama Rao & Ms. Astha Chandraआयकर अपील सं. / Ita No.621/Pun/2022 "नधा"रण वष" / Assessment Year : 2016-17 Ramdas Sitaram Patil, Vs. Acit, 238/2, Atharva Estate, Central Circle, E-Ward, Tarabai Park – 416 003 Kolhapur Kolhapur, Maharashtra Pan : Agupp5765D Appellant Respondent

191 09.02.2016 Registered Bapat Camp, Rs.25,00,000/- development Kolhapur Cheque : Agreement Balance in the form of constructed area 7 flats 3 Residential Flat in 80,00,000 Not Yet 01.11.2015 Agreement to Atharva Prasad Cheque registered sale Apartment, (Unregistered) Kolhapur The appellant had claimed deduction u/s.54/54F in respect of the capital gains arising on sale of the above assets

SAKHARAM BHONDVE,,PUNE vs. INCOME TAX OFFICE, WARD -9 (1),, PUNE

property for the same agreed consideration as per Development Agreement & registered the same dated 21.04.2008. The assessee had 50% share and accordingly, he received 50% of the sale consideration being Rs.48 lacs. This was adopted as the gross sale consideration by the Assessing Officer as well as the assessee. It is an undisputed fact that the transfer of land took

MILIND DIGAMBER KOLTE,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 2,, PUNE

In the result, appeal of the assessee is allowed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकरअपीलसं. / Ita No.824/Pun/2018 िनधा"रणवष" / Assessment Year : 2013-14 Milind Digamber Kolte, Asst. Commissioner Of Flat No.1, Vs Income Tax, Circle-2, Patil Heritage, Bhosale Nagar, Pune. Pune – 411 005. Pan : Abipk 5780 C Appellant/ Assessee Respondent /Revenue Assessee By Shri Nikhil S. Pathak Revenue By Shri S.P. Walimbe Date Of Hearing 07/06/2022 Date Of Pronouncement 05/07/2022 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)-3, Pune Dated 12.04.2018 Against The Order Under Section 143(3) Of The Income-Tax Act, 1961 (Hereinafter Also Called As ‘The Act’) Dated 03.03.2016. 2. Brief Facts Of The Case Are That The Assessee Is An Individual & File The Return Of Income On 28-09-2013 Declaring Total Income At Rs.2,27,86,637/-. The Case Was Selected For Scrutiny Under Cass. During The Course Of Assessment Proceedings, The Assessing Officer Observed That The Assessee Has Shown 4 Properties. Out Of The 4 Properties Shown, The Assessee Showed The Flat In Patil Heritage As Self Occupied & The Remaining 3 House Properties Viz., Laxmikrupa

section 143(3) of the Income-tax Act, 1961 (hereinafter also called as ‘the Act’) dated 03.03.2016. 2. Brief facts of the case are that the assessee is an individual and file the return of income on 28-09-2013 declaring total income at Rs.2,27,86,637/-. The case was selected for scrutiny under CASS. During the course

INCOME-TAX OFFICER vs. PIMPRI CHINCHWAD NEW TOWN DEVELOPMENT AUTHORITY,, PUNE

In the result, all the appeals of assessee are allowed and cross objections and appeals of Revenue are dismissed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.929 To 932/Pun/2014 यििाारण वषा / Assessment Years : 2003-04 To 2005-06 & 2008-09

191 (MP), wherein it has been held that for accounting purpose, 1/99th lease premium is to be taken as revenue in the hands of assessee. In this regard it was pointed out that the said decision was neither quoted before the Tribunal while arguing appeal against order passed under section 263 of the Act nor was it referred

PIMPRI CHINCHWAD NEW TOWN DEVELOPMENT AUTHORITY,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

In the result, all the appeals of assessee are allowed and cross objections and appeals of Revenue are dismissed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.929 To 932/Pun/2014 यििाारण वषा / Assessment Years : 2003-04 To 2005-06 & 2008-09

191 (MP), wherein it has been held that for accounting purpose, 1/99th lease premium is to be taken as revenue in the hands of assessee. In this regard it was pointed out that the said decision was neither quoted before the Tribunal while arguing appeal against order passed under section 263 of the Act nor was it referred

PIMPRI CHINCHWAD NEW TOWN DEVELOPMENT AUTHORITY,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

In the result, all the appeals of assessee are allowed and cross objections and appeals of Revenue are dismissed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.929 To 932/Pun/2014 यििाारण वषा / Assessment Years : 2003-04 To 2005-06 & 2008-09

191 (MP), wherein it has been held that for accounting purpose, 1/99th lease premium is to be taken as revenue in the hands of assessee. In this regard it was pointed out that the said decision was neither quoted before the Tribunal while arguing appeal against order passed under section 263 of the Act nor was it referred

PIMPRI CHINCHWAD NEW TOWN DEVELOPMENT AUTHORITY,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

In the result, all the appeals of assessee are allowed and cross objections and appeals of Revenue are dismissed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.929 To 932/Pun/2014 यििाारण वषा / Assessment Years : 2003-04 To 2005-06 & 2008-09

191 (MP), wherein it has been held that for accounting purpose, 1/99th lease premium is to be taken as revenue in the hands of assessee. In this regard it was pointed out that the said decision was neither quoted before the Tribunal while arguing appeal against order passed under section 263 of the Act nor was it referred

PIMPRI CHINCHWAD NEW TOWN DEVELOPMENT AUTHORITY,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

In the result, all the appeals of assessee are allowed and cross objections and appeals of Revenue are dismissed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.929 To 932/Pun/2014 यििाारण वषा / Assessment Years : 2003-04 To 2005-06 & 2008-09

191 (MP), wherein it has been held that for accounting purpose, 1/99th lease premium is to be taken as revenue in the hands of assessee. In this regard it was pointed out that the said decision was neither quoted before the Tribunal while arguing appeal against order passed under section 263 of the Act nor was it referred

INCOME-TAX OFFICER vs. PIMPRI CHINCHWAD NEW TOWN DEVELOPMENT AUTHORITY,, PUNE

In the result, all the appeals of assessee are allowed and cross objections and appeals of Revenue are dismissed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.929 To 932/Pun/2014 यििाारण वषा / Assessment Years : 2003-04 To 2005-06 & 2008-09

191 (MP), wherein it has been held that for accounting purpose, 1/99th lease premium is to be taken as revenue in the hands of assessee. In this regard it was pointed out that the said decision was neither quoted before the Tribunal while arguing appeal against order passed under section 263 of the Act nor was it referred

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

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

section (3) of section 143 for any\nprevious year; or\nc) Such case has been selected in accordance with the risk\nmanagement strategy, formulated by the Board from time to\ntime, for any previous year;\nThe Principal Commissioner or Commissioner shall—\ni.\ncall for such documents or information from the trust\nor institution, or make such inquiry as he thinks

INCOME TAX OFFICER, WARD -1, JALNA, JALNA vs. PRAMILA OMPRAKASH MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

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

section 10(38) and made additions, alleging involvement in penny stock which were being misused for providing bogus accommodation of LTCG, however, there was lack of adverse comments from stock exchange and officials of company involved in these transactions and no material relating to assessee was found in investigation wing report, additions made by AO had rightly been deleted

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. ATUL OMPRAKASH MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

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

section 10(38) and made additions, alleging involvement in penny stock which were being misused for providing bogus accommodation of LTCG, however, there was lack of adverse comments from stock exchange and officials of company involved in these transactions and no material relating to assessee was found in investigation wing report, additions made by AO had rightly been deleted

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. ATUL OMPRAKASH MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

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

section 10(38) and made additions, alleging involvement in penny stock which were being misused for providing bogus accommodation of LTCG, however, there was lack of adverse comments from stock exchange and officials of company involved in these transactions and no material relating to assessee was found in investigation wing report, additions made by AO had rightly been deleted

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. OMPRAKASH ASARAM MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

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

section 10(38) and made additions, alleging involvement in penny stock which were being misused for providing bogus accommodation of LTCG, however, there was lack of adverse comments from stock exchange and officials of company involved in these transactions and no material relating to assessee was found in investigation wing report, additions made by AO had rightly been deleted

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. OMPRAKASH ASARAM MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

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

section 10(38) and made additions, alleging involvement in penny stock which were being misused for providing bogus accommodation of LTCG, however, there was lack of adverse comments from stock exchange and officials of company involved in these transactions and no material relating to assessee was found in investigation wing report, additions made by AO had rightly been deleted