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

section 24 means not only the ownership of property but also getting possession simultaneously therefore, interest on borrowed money utilized for payment of compensation to the statutory tenant was allowable as deduction (if not U/sec.23) U/sec. 24 of the IT Act' 1961. c. Borrowed money was utilized for acquiring another capital asset i.e. tenancy rights hence, assuming income from property

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

220 ITR 185, held that the cinema house was eventually sold makes no difference so long as the liability by way of borrowings continues and subsists. The Hon'ble Supreme Court held that the revenue had during the years when the assessee carried on the business of cinematographic films permitted as a deduction under Section 36(1)(iii), the interest

ASSISTANT COMMISSIONER OF INCOME TAX , AHMEDNAGAR CIRCLE,, AHMEDNAGAR vs. SANJAY NEMICHAND LOHADE,, AHMEDNAGAR

Bench: Shri S.S. Godara & Shri G.D. Padmahshali

220 wherein it was held that the word 'house' used for residential purposes would not include a house property in the process of construction, which is incomplete and not habitable. Only if the house has reached a stage of construction by which it is available for occupation and is otherwise habitable, the assessee can regard the property as being

SINHGAD TECHNICAL EDUCATION SOCIETY,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

Accordingly, additional ground No.3 by the assessee is allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपील सं. / Ita Nos. 2075 To 2077 & 2110/Pun/2014 "नधा"रण वष" / Assessment Years: 2007-08 To 2009-10 Sinhgad Technical Education Society, S. No. 44/1, Vadgaon ( Budruk), Off. Sinhagad Road, Pune-411 041. Pan : Aabts9900Q. …....अपीलाथ" / Appellant बनाम / V/S.

House at NDA Road, Warje, Pune are hereby deleted and the additions in respect of the remaining properties are confirmed. For the same reasons, the applicability of S.13(1)(c) in the appellant's case is hereby upheld since a part of the income of the institution was used during the PY for the benefit of a person referred

ASSISTANT COMMISSIONER OF INCOME-TAX vs. SINHAGAD TECHNICAL EDUCATION SOCIETY,, PUNE

Accordingly, additional ground No.3 by the assessee is allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपील सं. / Ita Nos. 2075 To 2077 & 2110/Pun/2014 "नधा"रण वष" / Assessment Years: 2007-08 To 2009-10 Sinhgad Technical Education Society, S. No. 44/1, Vadgaon ( Budruk), Off. Sinhagad Road, Pune-411 041. Pan : Aabts9900Q. …....अपीलाथ" / Appellant बनाम / V/S.

House at NDA Road, Warje, Pune are hereby deleted and the additions in respect of the remaining properties are confirmed. For the same reasons, the applicability of S.13(1)(c) in the appellant's case is hereby upheld since a part of the income of the institution was used during the PY for the benefit of a person referred

ASSISTANT COMMISSIONER OF INCOME-TAX vs. SINHAGAD TECHNICAL EDUCATION SOCIETY,, PUNE

Accordingly, additional ground No.3 by the assessee is allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपील सं. / Ita Nos. 2075 To 2077 & 2110/Pun/2014 "नधा"रण वष" / Assessment Years: 2007-08 To 2009-10 Sinhgad Technical Education Society, S. No. 44/1, Vadgaon ( Budruk), Off. Sinhagad Road, Pune-411 041. Pan : Aabts9900Q. …....अपीलाथ" / Appellant बनाम / V/S.

House at NDA Road, Warje, Pune are hereby deleted and the additions in respect of the remaining properties are confirmed. For the same reasons, the applicability of S.13(1)(c) in the appellant's case is hereby upheld since a part of the income of the institution was used during the PY for the benefit of a person referred

SINHGAD TECHNICAL EDUCATION SOCIETY,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

Accordingly, additional ground No.3 by the assessee is allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपील सं. / Ita Nos. 2075 To 2077 & 2110/Pun/2014 "नधा"रण वष" / Assessment Years: 2007-08 To 2009-10 Sinhgad Technical Education Society, S. No. 44/1, Vadgaon ( Budruk), Off. Sinhagad Road, Pune-411 041. Pan : Aabts9900Q. …....अपीलाथ" / Appellant बनाम / V/S.

House at NDA Road, Warje, Pune are hereby deleted and the additions in respect of the remaining properties are confirmed. For the same reasons, the applicability of S.13(1)(c) in the appellant's case is hereby upheld since a part of the income of the institution was used during the PY for the benefit of a person referred

SINHGAD TECHNICAL EDUCATION SOCIETY,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

Accordingly, additional ground No.3 by the assessee is allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपील सं. / Ita Nos. 2075 To 2077 & 2110/Pun/2014 "नधा"रण वष" / Assessment Years: 2007-08 To 2009-10 Sinhgad Technical Education Society, S. No. 44/1, Vadgaon ( Budruk), Off. Sinhagad Road, Pune-411 041. Pan : Aabts9900Q. …....अपीलाथ" / Appellant बनाम / V/S.

House at NDA Road, Warje, Pune are hereby deleted and the additions in respect of the remaining properties are confirmed. For the same reasons, the applicability of S.13(1)(c) in the appellant's case is hereby upheld since a part of the income of the institution was used during the PY for the benefit of a person referred

SINHGAD TECHNICAL EDUCATION SOCIETY,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

Accordingly, additional ground No.3 by the assessee is allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपील सं. / Ita Nos. 2075 To 2077 & 2110/Pun/2014 "नधा"रण वष" / Assessment Years: 2007-08 To 2009-10 Sinhgad Technical Education Society, S. No. 44/1, Vadgaon ( Budruk), Off. Sinhagad Road, Pune-411 041. Pan : Aabts9900Q. …....अपीलाथ" / Appellant बनाम / V/S.

House at NDA Road, Warje, Pune are hereby deleted and the additions in respect of the remaining properties are confirmed. For the same reasons, the applicability of S.13(1)(c) in the appellant's case is hereby upheld since a part of the income of the institution was used during the PY for the benefit of a person referred

RADHA SHELAT,,PUNE vs. INCOME-TAX OFFICER, WARD - 13(3),, PUNE

In the result, the appeal of assessee is allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Ravi

Housing Society, Baner Road, Pune – 411008 PAN : ACAPS4184M ......अऩीऱाथी / Appellant बिाम / V/s. ITO, Ward-13(3), Pune ……प्रत्यथी / Respondent Assessee by : Shri C.H. Naniwadekar Revenue by : Shri S.P. Walimbe सुनवाई की तारीख / Date of Hearing : 22-10-2021 घोषणा की तारीख / Date of Pronouncement : 25-10-2021 आदेश / ORDER PER S.S. VISWANETHRA RAVI, JM : This appeal by the assessee against

CHANDRAKANT GULABRAO BORDE,,PUNE vs. INCOME-TAX OFFICER, WARD - 13(1),, PUNE

In the result, appeal of the assessee is allowed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm

220 CTR 369 4. Bakulbhai Ramanlal Patel Vs. ITO (2111) 79 CCH 0204 (Guj. High Court) 5. CIT Vs. Batra (2008) 76 CCH 0918 (Delhi High Court) 6. DIT Vs. M/s. S.R.M.B. Diary Farming (P) Ltd. (Supreme Court) 7. ACIT Vs. Sameer Sudhakar Dighe – ITA No.1327/Mum/2016, dated 13-04-2018 8. CIT Vs. M.Balamuralikrishna

ASSISTANT COMMISSIONER OF INCOME TAX, JALGAON vs. SIDHARTH RATANLAL BAFNA, JALGAON

In the result, all the above 6 appeals filed by the Revenue are dismissed and

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

220 of the paper book the Ld. Counsel for the assessee drew the attention of the Bench to the reasons recorded by the Assessing Officer where he himself has stated as under: "As per the information in possession of this office, the assessee had sold his investment in penny stocks of M/s PFL Infotech Ltd, Hyderabad (PFLIL) during

DY.COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, AURANGABAD, AURANGABAD vs. SHRI. BALAJI RAMCHANDRA ANDE, LATUR

In the result, appeal of the Revenue dismissed

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

house property, profits and gains of business or profession, or capital gains, nor 8 ITA.No.625/PUN./2024 is it income from other sources' because the provisions of sections 69, 69A, 698, and 69C treat unexplained investments, unexplained money, bullion, etc., and unexplained expenditure as deemed income where the nature and source of investment, acquisition or expenditure, as the case

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, NASHIK, NASHIK vs. ABHAYRAJ FATTEHRAJ CHORDIYA, C/O LAXMI OIL MIL

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2014-15

house property, income from business and income from other sources. He filed his return of income on 31.07.2014 declaring total income of Rs.17,01,810. A search and seizure action u/s 132 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) was conducted in the case of M/s. C & M Farming Ltd. (C&M Group cases

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 6,, PUNE vs. SHARADA ERECTORS PRIVATE LIMITED., PUNE`

Appeals are dismissed in above terms

Bench: Shri S.S.Godara, Jm & Shri Dr. Dipak P. Ripote, Am आयकर अपीऱ सं. / Ita No.2040 & 2041/Pun/2017 ननधधारण वषा / Assessment Year : 2010-11 & 2011-12

220/- and also noted the balances standing in the current account with the banks as on 01.04.2004 at Rs.7,81,313/-. As per the Assessing Officer, this showed that there was a negative balance in the bank accounts amounting to Rs.21,82,12,907/- as on 01.04.2004. Thereafter, the Assessing Officer has tabulated the movement of the bank accounts

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 6,, PUNE vs. SHARADA ERECTORS PRIVATE LIMITED., PUNE`

Appeals are dismissed in above terms

Bench: Shri S.S.Godara, Jm & Shri Dr. Dipak P. Ripote, Am आयकर अपीऱ सं. / Ita No.2040 & 2041/Pun/2017 ननधधारण वषा / Assessment Year : 2010-11 & 2011-12

220/- and also noted the balances standing in the current account with the banks as on 01.04.2004 at Rs.7,81,313/-. As per the Assessing Officer, this showed that there was a negative balance in the bank accounts amounting to Rs.21,82,12,907/- as on 01.04.2004. Thereafter, the Assessing Officer has tabulated the movement of the bank accounts

AICON,PUNE vs. DCIT CIRCLE-7, PUNE

Appeal is dismissed in above terms

Bench: Shri S.S. Godara & Dr. Dipak P. Ripoteनिर्धारण वषा / Assessment Year : 2013-14 Alcon Vs. Dcit, Circle 7, 4Th Floor, Metropole, Pune Bund Garden Road, Near Inox Theatre, Pune – 411001 Pan : Aaifa1665R Appellant Respondent

housing projects u/s.80IB(10) which were completed prior to the year under assessment without appreciating that the said deduction is allowable on payment basis u/s.43B and the inter source set off has to be allowed u/s. Section 70 before considering deductions under chapter VI-A. It is submitted that no disallowance was justified and the same may kindly be deleted

PRAKASH SAKHARAM SANGAONKAR,,KOLHAPUR vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 2,, KOLHAPUR

In the result, the appeal of the assessee is allowed for statistical

Bench: Shri D. Karunakara Rao, Am

House, Shahupuri, Kolhapur. PAN : ADXPS7976F. बनाम v/s The Asst.Commissioner of Income Tax, ………. ""यथ" / Circle – 2, Kolhapur. Respondent Assessee by : Shri Nikhil Pathak. Revenue by : Shri Prashant Gadekar. : 24.06.2020 सुनवाई क" तार"ख / Date of Hearing घोषणा क" तार"ख / Date of Pronouncement : 24.06.2020 आदेश / ORDER PER SHRI D. KARUNAKARA RAO The appeal is filed by the assessee against the order

INCOME TAX OFFICER WARD-1(5), AURANGABAD, AURANGABAD, MAHARASHTRA vs. ROYAL ESTATES, AURANGABAD, MAHARASHTRA

In the result, the appeals of Revenue for AYs 2011-12 and 2012-13

Bench: Ms. Astha Chandra & Shree G.D. Padmahshali

housing project at CIDCO, Mahanagar, Waluj, Aurangabad under the name “SARA KIRTI”. The project was approved as per CIDCO letter dated 30.03.2007 and the project was completed as per completion certificate dated 30.03.2012. The Ld. AO further found that as per the assessee’s books the cost of construction worked out to Rs.650/- per sq. ft. which according