INCOME TAX OFFICER, PUNE vs. PRAKASH RAMKRISHNA POPHALE, PUNE

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2017-18

property" (hereafter in this section referred to as the original asset), and the assessee has within a period of one year before or two years after the date on which the transfer took place purchased], or has within a period of three years after that date 1 ''[constructed, one residential house in India], 10 then], instead of the capital gain

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

house property in respect of Talegaon flat of Rs.31,920/- and Rs.42,000/- from Lunkad Collonade Viman Nagar property is concerned, it is the submission of the Ld. Counsel for the assessee that due to some arithmetical error, there was shortfall in disclosing that rental income but rental income from the above two properties was disclosed. We find some force

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

house property in respect of Talegaon flat of Rs.31,920/- and Rs.42,000/- from Lunkad Collonade Viman Nagar property is concerned, it is the submission of the Ld. Counsel for the assessee that due to some arithmetical error, there was shortfall in disclosing that rental income but rental income from the above two properties was disclosed. We find some force

RAKESH YASHWANT SHINDE,,PUNE vs. INCOME-TAX OFFICER, WARD - 8(3),, PUNE

Appeal is dismissed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपीलसं. / Ita No.1133/Pun/2018 िनधा"रण वष" / Assessment Year : 2014-15 Rakesh Yashwanth Shinde, The Income Tax Officer, Shop No.24, Rachana Industrial Vs Ward-8(3), Pune. Complex, Telco Road, Bhosari, Pune – 411034. Pan: Aorps 8006F Appellant/ Assessee Respondent /Revenue Assessee By None Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 13/07/2022 Date Of Pronouncement 27/07/2022 आदेश/ Order Per S.S.Godara, Jm: This Assessee’S Appeal For Assessment Year 2014-15 Is Directed Against The Commissioner Of Income Tax(Appeals)-13, Pune’S Order Dated 05.03.2018 Passed In Case No. Cit(A)-13/16- 17/583/617, In Proceedings U/S.143(3) Of The Income Tax Act, 1961 [In Short “The Act”].

45 which indicates that capital gains is taxable in the year in which such transactions are entered into even if the transfer of immovable property is not effective or complete under the general law. In the instant case, that test had not been applied by the department. No reason had been given why that test had not been applied, particularly

SMT BEENA SHAMMI CHAUDHARI,PUNE vs. ITO., WARD 6(4), PUNE

In the result, the appeal is allowed

Bench: Shri R.S. Syalनिर्धारण वषा / Assessment Year : 2009-10 Smt. Beena Shammi Chaudhari Vs. Ito, Ward B/3-302, Silver Oak, Florien Estates, 6(4), Pune Kalyani Nagar, Pune – 411014 Pan : Adypc5109R Appellant Respondent Assessee By Shri V.L. Jain Revenue By Shri M.G. Jasnani Date Of Hearing 16-02-2022 Date Of Pronouncement 17-02-2022

house property for a sum of Rs.26 lakhs took place vide sale deed registered and stamp duty paid on 17.04.2008. The assessee‟s contention that cheques amounting to Rs.14 lakhs got dishonoured and out of the remaining amount of Rs.12 lakhs already received by the assessee, a sum of Rs.2 lakhs was returned and agreement to sell the property

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

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

SHEELA DEEPAK GUNDECHA,PUNE vs. ITO WARD 2(1), PUNE

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

Bench: Dr.Manish Borad

property" (hereafter in this section referred to as the original asset), and the assessee has within a period of one year before or two years after the date on which the transfer took place purchased, or has within a period of three years after that date constructed, one residential house in India, then, instead of the capital gain being charged

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, AURANGABAD., AURANGABAD. vs. TAPADIYA CONSTRUCTION LTD, AURANGABAD

In the result, appeal of the Revenue is dismissed

Bench: Dr. Manish Borad & Shri Vinay Bhamore

45,58,000/- (Rs.1,37,73,000/- as additional amount received + Rs. 1,07,85,000/- being 30% of the total sale consideration of the Row houses totaling to Rs. 3,59,50,000/-) as the additional income of M/s Tapadia Constructions Ltd. for A.Y. 2019-20. We offering the profitability of these 12 Row houses as we have handed

DASHRATH V.WAGASKAR,,NASHIK vs. INCOME TAX OFFICER,, NASHIK

In the result, appeal of the assessee is Partly Allowed

Bench: Shri Partha Sarathi Chaudhury, Hon’Ble Jm & Dr. Dipak P. Ripote, Hon’Ble Am आयकरअपीलसं. / Ita No.270/Pun/2017 िनधा"रणवष" / Assessment Year : 2013-14 Asha Bhausahebthube, The Income Tax Officer, (Legal Heir Of Late Vs Ward-1(4), Nashik. Mr.Dashrathv.Wagaskar), Gat No.63, Wagaskar House, Anandvalli, Gangapur Road, Nashik – 422 013. Pan: Aampw 5276 G Appellant/ Assessee Respondent /Revenue Assessee By Shri Kishore B Phadke– Ar Revenue By Shri S.P.Walimbe– Dr Date Of Hearing 14/03/2022 Date Of Pronouncement 11/05/2022

45: 7. Section 54F of the Act requires assessee to purchase new residential house within a period of Two years after the date of Sale or construct within a period of Three years. In this case, it is a fact that assessee has neither purchased nor constructed a residential house within a period mentioned in ITA No.270/PUN/2017

HOMELAND CONSTRUCTIONS PRIVATE LIMITED,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 11,, PUNE

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

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.17/Pun/2019 निर्धारण वषा / Assessment Year : 2015-16 M/S. Homeland Construction Pvt. Ltd., 5, 100/4, The Retreat Salisbury Park, Near Poonawala Bunglow, Pune – 411037 Pan: Aabch8510Q .......अऩीऱाथी / Appellant बिधम / V/S. The Asst. Commissioner Of Income Tax, Circle 11, Pune ……प्रत्यथी / Respondent

45,10,600/-. While doing so, the AO brought to tax notional value of flats unsold lying in closing stock of Rs.2,84,910/- u/s 23(1) of the Act. Being aggrieved by the above addition, an appeal was preferred before the CIT(A), who vide impugned order had confirmed the addition placing reliance on the decision

INCOME-TAX OFFICER, WARD - 2(3),, SOLAPUR vs. SHRI. ULHAS MALLIKARJUN PATIL,, SOLAPUR

Appeal is partly allowed for statistical purpose in above terms

Bench: Shri S.S.Godara & Shri Inturi Rama Raoआयकर अपीलसं. / Ita No.1751/Pun/2018 िनधा"रणवष" / Assessment Year : 2013-14 The Income Tax Officer, Shri Ulhas Mallikarjun Patil, Ward-2(3), Solapur, Vs Block No.3, Sunandan . Complex, Near Dayanand College, Ravivar Peth, Solapur – 413004. Pan: Akepp 1943 P Appellant/ Assessee Respondent /Revenue Assessee By Shri Krishna V Gujarathi – Ar Revenue By Shri Ramnath P Murkunde – Dr Date Of Hearing 05/09/2022 Date Of Pronouncement 06/09/2022 आदेश/ Order Per S.S.Godara, Jm: This Revenue’S Appeal For Assessment Year 2013-14 Is Directed Against The Commissioner Of Income Tax(Appeals)-7, Pune’S Order Dated 31.08.2018 Passed In Case No.Pn/Cit(A)-7/Wd- 2(3)/10434/2016-147, In Proceedings U/S.143(3) Of The Income Tax Act, 1961 [In Short “The Act”].

45,400/- in F.Y. 2006-07. The assessee has also capitalized interest of Rs. 89,65,775/- towards cost of construction. The sale value of the property is Rs. 3i00,00,000/-. The property (building) was given on rent to various schools from 01.06.2008. The assessee has shown income from business in return of income. The AO sought to invoked

VIKRAM DEVELOPERS & PROMOTERS,,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX,,

In the result, the appeal of the assessee in ITA No

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm आयकर अपील सं. / Ita Nos.2795 & 2796/Pun/2016 िनधा"रण वष" / Assessment Years : 2012-13 & 2013-14 M/S. Vikram Developers & Promoters, 19, Shrikrishna Heights, Ganeshkhind Road, Shivaji Nagar, Pune-411005. .......अपीलाथ" / Appellant Pan : Aagfv4298R बनाम / V/S. Dcit, Central Circle-2(1), ……""यथ" / Respondent Pune. Assessee By : Shri Kishor Phadke Revenue By : Shri Milind Chahure सुनवाई क" तारीख / Date Of Hearing : 17.10.2019 घोषणा क" तारीख / Date Of Pronouncement : 14.11.2019 आदेश / Order Per D. Karunakara Rao, Am: There Are Two Appeals Under Consideration Filed By The Assessee Against The Common Orders Of The Cit(A)-12, Pune Dated 08.09.2016 For The Assessment Years 2012-13 & 2013-14 Respectively. Preliminary Issue - Condonation Of Delay – Both Appeals 2. Before Us, At The Outset, Ld. Counsel For The Assessee Submitted That The Both The Appeals Could Not Be Filed In Time & The Said Appeals Were Filed With The Delay Of 01 Day. In This Regard, Ld. Counsel For The Assessee Submitted That The Delay Is Unintentional & Prayed For Condoning The Same. 3. After Hearing Both The Sides & Considering The Smallness Of Delay In Filing Of Both The Appeals, We Condone The Delay & Proceed To Adjudicate The Appeals Of The Assessee In The Following Paragraphs. 4. The Facts & Grounds Are Common In Both The Appeals, Therefore, Both The Appeals Were Heard Together & Are Being Disposed Of By This Composite Order. Accordingly, The Appeal-Wise Adjudication Is Taken Up In The Following Paragraphs.

property i.e. builders. The housing project undertaken by the assessee was approved by the competent authority and accordingly, assessee claimed deduction under section 80IB of the Act of 100% of the profit from the housing project. We noted that Chapter XII BA i.e. special provisions relating to certain persons other than a company was introduced by the Finance

M/S. VIKRAM DEVELOPERS & PROMOTERS,,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX,,

In the result, the appeal of the assessee in ITA No

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm आयकर अपील सं. / Ita Nos.2795 & 2796/Pun/2016 िनधा"रण वष" / Assessment Years : 2012-13 & 2013-14 M/S. Vikram Developers & Promoters, 19, Shrikrishna Heights, Ganeshkhind Road, Shivaji Nagar, Pune-411005. .......अपीलाथ" / Appellant Pan : Aagfv4298R बनाम / V/S. Dcit, Central Circle-2(1), ……""यथ" / Respondent Pune. Assessee By : Shri Kishor Phadke Revenue By : Shri Milind Chahure सुनवाई क" तारीख / Date Of Hearing : 17.10.2019 घोषणा क" तारीख / Date Of Pronouncement : 14.11.2019 आदेश / Order Per D. Karunakara Rao, Am: There Are Two Appeals Under Consideration Filed By The Assessee Against The Common Orders Of The Cit(A)-12, Pune Dated 08.09.2016 For The Assessment Years 2012-13 & 2013-14 Respectively. Preliminary Issue - Condonation Of Delay – Both Appeals 2. Before Us, At The Outset, Ld. Counsel For The Assessee Submitted That The Both The Appeals Could Not Be Filed In Time & The Said Appeals Were Filed With The Delay Of 01 Day. In This Regard, Ld. Counsel For The Assessee Submitted That The Delay Is Unintentional & Prayed For Condoning The Same. 3. After Hearing Both The Sides & Considering The Smallness Of Delay In Filing Of Both The Appeals, We Condone The Delay & Proceed To Adjudicate The Appeals Of The Assessee In The Following Paragraphs. 4. The Facts & Grounds Are Common In Both The Appeals, Therefore, Both The Appeals Were Heard Together & Are Being Disposed Of By This Composite Order. Accordingly, The Appeal-Wise Adjudication Is Taken Up In The Following Paragraphs.

property i.e. builders. The housing project undertaken by the assessee was approved by the competent authority and accordingly, assessee claimed deduction under section 80IB of the Act of 100% of the profit from the housing project. We noted that Chapter XII BA i.e. special provisions relating to certain persons other than a company was introduced by the Finance

ACIT, CENTRAL CIRCLE-1, NASHIK, NASHIK vs. RAJENDRA RASIKLAL SHAH, NASHIK

In the result, the appeal of the Revenue is dismissed

Bench: Dr.Manish Borad & Ms. Astha Chandraआयकर अपील सं. / Ita No.1015/Pun/2024 Assessment Year : 2013-14

house had been transferred. In normal circumstances by executing an agreement to sell in respect of an immoveable property, a right in personam is created in favour of the transferee/vondee. When such a right is created in favour of the vendee, the vendor is restrained from selling the said property to someone else because the vendee, in whose favour

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

section 45: 4.2.1 On a plain reading of the aforesaid provision, it is clear that the deduction is available only when the assessee has either constructed or purchased new property being a residential house

SONALI KIRAN SHIVARKAR,PUNE vs. DCIT- CIRCLE-7, PUNE

In the result, appeal of the Assessee is Allowed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.1881/Pun/2019 िनधा"रण वष" / Assessment Year : 2014-15 Sonali Kiran Shiv Arkar, The Deputy L/H Of Late Kiran Sopanrao Vs Commissioner Of Income Shivarkar, A-204, Ganga Tax, Cirlce-7, Pune. Savera, Shivarkar Road, Wanawadi, Pune – 411040. Pan: Aprps 3509 Q Appellant/ Assessee Respondent / Revenue Assessee By Shri Nikhil Pathak – Ar Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 21/07/2022 Date Of Pronouncement 18/10/2022 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)-8, Pune, Dated 11.09.2019 For The A.Y.2014-15. The Assessee Has Raised The Following Grounds Of Appeal: “1. The Learned Commissioner Of Income Tax Erred In Law & Without Considering Facts & Submission Made, Claimed U/S 54F Amounting To Rs.24,72,272/- In Respect Of Investment In Second Residential House. The Appellant Prays That Deduction U/S 54F Be Allowed In Respect Of Second Residential House.” 2. Brief Facts Of The Case Are That Assessee Filed Original Return On 18/11/2014 Declaring Total Income Of Rs.2,41,550/-. The Assessee Then Filed Revised Return On 27/03/2015 Declaring Total Income Of

45: [Provided that nothing contained in this sub-section shall apply where— (a) the assessee,— (i) owns more than one residential house, other than the new asset, on the date of transfer of the original asset; or (ii) purchases any residential house, other than the new asset, within a period of one year after the date of transfer

VASANT SHIVRAM MADHAVI,PANVEL vs. ITO WARD - 5, PANVEL

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2015-16

House No.36, Targhar Post – Ulwa, Vs. Ulwa Gaon, Panvel – 410206, Maharashtra PAN: AWBPM9326N (Appellant) (Respondent) Assessee by : S/Shri Bhupendra Shah and Babulal Jain Department by : Shri Ajay Kumar Keshari - CIT Date of hearing : 23-01-2025 Date of pronouncement : 22-04-2025 O R D E R PER R. K. PANDA, VP : This appeal filed by the assessee is directed