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:

263(1) to show that before passing the final order under that section, the Commissioner must necessarily and in all cases record final conclusions above the points in controversy before him. As already noted by us above, we would have expected him to record final 41 conclusions, which he thought proper if he was to settle the assessment finally

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

M/S KIRAN SANRAN ASSOCIATES,PUNE vs. PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL), PUNE, PUNE

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

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2018-19

2), (3), (4), (5) and (6) of section 16A, clause (i) of sub-section (1) and sub-sections (6) and (7) of section 234, sub-section (5) of section 24, section 34AA, section 35 and section 37 of the Wealth-tax Act, 1957 (27 of 1957), shall, with necessary modifications, apply in relation to such reference as they apply

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

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

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

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

263 or section 264, after the expiry of six months from the end of the month in which such order of revision is passed; (c) in any other case, after the expiry of the financial year in which the proceedings, in the course of which action for the imposition of penalty has been initiated, are completed, or six months from

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

263 or section 264, after the expiry of six months from the end of the month in which such order of revision is passed; (c) in any other case, after the expiry of the financial year in which the proceedings, in the course of which action for the imposition of penalty has been initiated, are completed, or six months from

SMT. ROHINI VALMIK GADHAVE,PUNE vs. COMMISSIONER OF INCOME-TAX -5, PUNE

Appeal is allowed in above terms

Bench: Shri S.S. Godara & Dr. Dipak P. Ripoteनिर्धारण वषा / Assessment Year : 2015-16 Smt. Rohini Valmik Gadhave Vs. Pr.Cit-5, Pune C-Wing, Flat No.603, Mantra Properties, Moshi, Pune – 412105 Pan : Bkvpg9947G Appellant Respondent

house property', in respect of which there was a sharp divergence of opinion amongst the High Courts, was clarificatory and declaratory in nature and consequently retrospective. Similarly, in Brij Mohan Das Laxman Das v. CIT (1997) 90 Taxman 41 (SC), explanation 2 added to section 40 of the Act was held to be declaratory in nature and, therefore, retrospective. (Reference

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 ix. Reduction in profit due to ICDS x. International Transaction(s) xi. Loss from currency fluctuations 3. Statutory notices u/s.143(2)/142(1) were duly served upon the assessee along with detailed questionnaire and the assessee made compliance to such notices. Since the assessee had entered into certain international transactions, the Assessing Officer (AO) referred the matter

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]

House Property and Income from Other Sources, without any verification. Therefore, it has resulted in loss of revenue. 10. Thus the twin conditions of erroneous and prejudicial to the interest of revenue has been satisfied in this case. 10.1 The Explanation 2 to Section 263

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

SHARADA ELECTORS PRIVATE LIMITED,PUNE vs. PCIT, PUNE-3, PUNE

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

Bench: Dr.Manish Borad & Shri Vinay Bhamore

2), the time taken in giving an opportunity to the assessee to be reheard under the proviso to section 129 and any period during which any proceeding under this section is stayed by an order or injunction of any court shall be excluded." 8. On a bare perusal of the sub section-1 would reveal that powers of revision granted

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

2. The subject matter of present litigation is twofold, it assailed firstly against assumption of revisionary jurisdiction as time-barred and secondly against non- satisfaction of necessary twin conditions laid in section 263 of the Act. 3. Tersely stated the facts of the case are; the assessee is an individual deriving income from salaries, house property

VIVEK NATHURAM GAVHANE,PUNE vs. THE PR. COMMISSIONER OF INCOME TAX, CENTRAL, PUNE

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

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.849/Pun/2025 Assessment Year : 2020-21

2] The Ld. PCIT erred in holding that the assessee has failed to substantiate that the let-out properties were used for the purpose of business for the part of the year and hence allowability of depreciation in respect of the let-out properties was required to be verified. 3] The Ld. PCIT erred in not appreciating 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

properties amounting to Rs.55,02,100/- and Rs.50,00,000/- The provision of section 54F is as under: 54F. (1) Subject to the provisions of sub-section (4), where, in the case of art assessee being an individual or a Hindu undivided family, the capital gain arises from the transfer of any long-term capital asset, not being a residential

SHAMKANT KESHAV KOTKAR (PROP. NANDAN BUILDERS),PUNE vs. PR. COMMISSIONER OF INCOME TAX (CENTRAL), PUNE

In the result, appeal of the assessee is allowed

Bench: SHRI VINAY BHAMORE (Judicial Member)

2. Ld.Authorised Representative(ld.AR) for the Assessee Mr.Kishor Phadke filed paper book containing 201 pages. ITA No.1358/PUN/2025 [A] 2.1 The ld.AR Mr.Kishor Phadke submitted that in this case, original assessment order was passed on 12.12.2019 for A.Y.2017- 18 under section 143(3) of the Act, accepting returned income at Rs.2,18,66,125/-. In this case, Assessee had e-filed

SHETH CHIMANLAL GOVINDDAS MEMORIAL TRUST,PUNE vs. CIT(EXEMPTION), PUNE, PUNE

In the result, appeal of the assessee is dismissed

houses in India for residential purposes\nand which is eligible for deduction under clause (viii) of sub-section (1)\nof section 36;\n(ixa) deposits with or investment in any bonds issued by a public\ncompany formed and registered in India with the main object of\ncarrying on the business of providing long-term finance for urban\ninfrastructure in India

M/S SUKHWANI PROMOTORS AND BUILDERS,PUNE vs. PRINCIPAL COMMISSIONER OF INCOME-TAX, (CENTRAL),, PUNE

In the result, appeal of the Assessee is Partly Allowed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.301/Pun/2022 िनधा"रण वष" / Assessment Year : 2017-18 M/S.Sukhwani Promoters & The Principal Builders, Vs Commissioner Of Income 208/2A, Near Swaminathan Tax, (Central), Pune. Clinic, Station Road, Pimpri, Pune – 411018. Pan: Abrfs 1253 P Assessee/ Appellant Respondent /Revenue Assessee By Shri Jitendra Jain – Ar Revenue By Shri Sardar Singh Meena – Dr Date Of Hearing 16/05/2023 Date Of Pronouncement 27/06/2023 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Is Filed By The Assessee Against The Order Of Ld.Principal Commissioner Of Income Tax(Central), Pune Dated 24.03.2022 Under Section 263 Of The Act For A.Y.2017-18. The Grounds Of Appeal Raised By The Assessee Are As Under : “1 & 2. Pcit Erred In Passing The Order U/S 263 Of The Act Which Is Bad In Law, Illegal, Ultra-Virus, In Excess Of And/Or In Want Of Jurisdiction & Otherwise Void. M/S.Sukhwani Promoters & Builders [A]

house property' after one/two years from the end of the financial year in which the certificate of completion of construction of the property is obtained on and from the A.Y. 2018- 19. Instantly, we are concerned with the assessment year 2013-14. As such, the amendment cannot apply to the year under consideration. In the absence of the applicability