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

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

ALNESH MOHAMADAKIL SOMJI,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX, PUNE

220 ITR 185,\nheld that the cinema house was eventually sold makes no difference so long as the\nliability by way of borrowings continues and subsists. The Hon'ble Supreme Court\nheld that the revenue had during the years when the assessee carried on the\nbusiness of cinematographic films permitted as a deduction under Section\n36(1)(iii), the interest

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

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

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

REKHA KISHORE BARI,DHULE vs. ASSESSING OFFICER-NFAC, DELHI

In the result appeal of the assessee is partly allowed for statistical purpose

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.1667/Pun/2024 िनधा"रण वष" / Assessment Year: 2020-21 Rekha Kishore Bari, V The Assessing Officer- Datta Bari Bhavan, S Nfac. Opp.Rana Pratap Statute, Dhule – 424001. Pan: Abepb3597J Appellant/ Assessee Respondent / Revenue Assessee By Shri Bhuvanesh Kankani – Ar Revenue By Shri Sandeep P Sathe – Jcit(Dr) Date Of Hearing 09/12/2024 Date Of Pronouncement 27/01/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeals)[Nfac] For Assessment Year 2020-21 Dated 19.07.2024 Passed U/Sec.250 Of The Income Tax Act, 1961, Emanating From The Assessment Order U/S 143(3) R.W.S. 144B Of The Act, Dated 31/08/2022. The Assessee Has Raised The Following Grounds Of Appeal :

House Building Society Ltd Vs. CIT [2010] 327 ITR 39 (Punjab & Haryana)- legal Paper book pg no. 87- 90 5.15. Your Honour's, since, sec. 56(2)(viii) r.w.s 145 (1) (erstwhile 145A(b) of the Act does not determine the year of taxability where litigation is pending; and even though above judgements pertain to Assessment Years prior to Amendment

SHRI MANOJ MADANLAL CHHAJED,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -1(1)PUNE, PUNE

In the result, the appeal filed by the assessee in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / It(Ss)A Nos.91 To 96/Pun/2022 िनधा"रण वष" / Assessment Years : 2012-13 To 2017-18 Shri Manoj Madanlal Vs. Acit, Central Circle- Chhajed, 1(1), Pune. 601, A-8 Building, Karishma Housing Society, Near Sangam Press, Kothrud, Pune- 411029. Pan : Aalpc4991M Appellant Respondent आयकर अपील सं. / It(Ss)A Nos.97 & 98/Pun/2022 िनधा"रण वष" / Assessment Years : 2012-13 & 2015-16 Acit, Circle-1(1), Pune. Vs. Shri Manoj Madanlal Chhajed, 601, A-8 Building, Karishma Housing Society, Near Sangam Press, Kothrud, Pune- 411029. Pan : Aalpc4991M Appellant Respondent आयकर अपील सं. / Ita No.725/Pun/2022 िनधा"रण वष" / Assessment Year: 2018-19 Shri Manoj Madanlal Vs. Acit, Circle-1(1), Pune. Chhajed, 601, A-8 Building, Karishma Housing Society, Near Sangam Press, Kothrud, Pune- 411029. Pan : Aalpc4991M Appellant Respondent

Housing Society, Near Sangam Press, Kothrud, Pune- 411029. PAN : AALPC4991M Appellant Respondent 2 IT(SS)A Nos.91 to 96/PUN/2022 IT(SS)A Nos.97 & 98/PUN/2022 Assessee by : Shri Ratan Samal, Mrs. Ruchi M. Rathod & Shri H. G. Sharma Revenue by : Shri Keyur Patel Date of hearing : 06.06.2023 Date of pronouncement : 28.06.2023 आदेश / ORDER PER BENCH : These are the cross appeals filed

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

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

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

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