RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION, KOLHAPUR, KOLHAPUR

In the result, all the appeals filed by the assessee are partly allowed as per terms indicated hereinabove

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1121 To 1126/Pun/2024 Assessment Years : 2012-13 To 2017-18

2. The petitioner as an individual, for the assessment year 2008-09 filed his return of income on 3.3.2009 showing total income of Rs.4,43,830/-. During the period relevant to the assessment year, the petitioner had sold a residential property and claimed exemption under section 54 of the Income-tax Act ("the Act" for short). Amount which remained unutilized

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION, KOLHAPUR, KOLHAPUR

In the result, all the appeals filed by the assessee are partly allowed as per terms indicated hereinabove

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1121 To 1126/Pun/2024 Assessment Years : 2012-13 To 2017-18

2. The petitioner as an individual, for the assessment year 2008-09 filed his return of income on 3.3.2009 showing total income of Rs.4,43,830/-. During the period relevant to the assessment year, the petitioner had sold a residential property and claimed exemption under section 54 of the Income-tax Act ("the Act" for short). Amount which remained unutilized

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION, KOLHAPUR, KOLHAPUR

In the result, all the appeals filed by the assessee are\npartly allowed as per terms indicated hereinabove

2. The petitioner as an individual, for the assessment year 2008-09\nfiled his return of income on 3.3.2009 showing total income of\nRs.4,43,830/-. During the period relevant to the assessment year,.\nthe petitioner had sold a residential property and claimed exemption\nunder section 54 of the Income-tax Act (\"the Act\" for short). Amount\nwhich remained unutilized

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION , KOLHAPUR, KOLHAPUR

In the result, all the appeals filed by the assessee are\npartly allowed as per terms indicated hereinabove

2. The petitioner as an individual, for the assessment year 2008-09\nfiled his return of income on 3.3.2009 showing total income of\nRs.4,43,830/-. During the period relevant to the assessment year,\nthe petitioner had sold a residential property and claimed exemption\nunder section 54 of the Income-tax Act (\"the Act\" for short). Amount\nwhich remained unutilized

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION, KOLHAPUR

In the result, all the appeals filed by the assessee are\npartly allowed as per terms indicated hereinabove

2. The petitioner as an individual, for the assessment year 2008-09\nfiled his return of income on 3.3.2009 showing total income of\nRs.4,43,830/-. During the period relevant to the assessment year,\nthe petitioner had sold a residential property and claimed exemption\nunder section 54 of the Income-tax Act ("the Act" for short). Amount\nwhich remained unutilized

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

house and secondly, the new residential property was purchased before one year prior to the sale of original 5 asset. Admittedly, the sale consideration was paid prior to the one year before the sale of original asset. There is no bar under law to claim deduction simultaneously u/s,.54 and u/s.54F in respect of the same asset. The crucial fact

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

54 and Section 55 of Transfer Property Act, 1882 and cannot be treated as valid transactions as per the provisions of the Income Tax Act, 1961. 6. Whether on the facts and in the circumstances of the case and in law, the Ld.CIT(A) has erred in deleting the addition of Rs.15,13,95,000/- ignoring the fact that

PUNE MATHADI HAMAL AND OTHER MANUAL WORKERS BOARD,PUNE vs. INCOME TAX OFFICER, WARD-5(1), PUNE, PUNE

In the result, appeal of the assessee is partly allowed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.1012/Pun/2023 िनधा"रण वष" / Assessment Year : 2018-19 Pune Mathadihamal & Other The Income Tax Manual Workers Board, V Officer, Shramashakti Bhavan, S Ward-5(1), Pune. Coomercial Plot No.1, Market Yard, Pune – 411037. Pan: Aaalp0097L Appellant/ Assessee Respondent /Revenue Assessee By Shri Vipul Joshi – Ar Revenue By Shri Ajay Kumar Keshari & Shri Rajesh Gawali– Dr’S Date Of Hearing 17/04/2024 Date Of Pronouncement 27/06/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Against The Orders Of Ld.Commissionerof Income Tax(Appeals)[Nfac], Under Section 250 Of The Act Dated 14.07.2023 :

housing for the workers, providing scholarships to the wards of the workers, providing full fledge Hospitalisation facility and free medical treatment to the workers etc. The mathadi boards do not carry on any activity for profit. The primary object is to protect the poor manual workers from exploitation by ensuring full wages, labour law benefits, ensuring full utilization of work

RANAJIT SURESH RAJAMANE,SOLAPUR vs. ITO, WARD 1, PANDHARPUR, PANDHARPUR

In the result, the appeal of the assessee is allowed

Bench: Dr. Manish Borad & Ms. Astha Chandraआयकर अपील सं. / Ita No.1678/Pun/2024 धििाारण वर्ा / Assessment Year: 2014-15 Ranajit Suresh Rajamane, Vs Ito Ward 1, Shukrawar Peth, Pandharpur Tembhurni Madha Solapur- 413211 Maharashtra Pan-Bmepr3878N Appellant Respondent

section 2(47) of the Income-tax Act, 1961, transfer in relation to the capital asset is complete if a right in a property is extinguished executing an agreement to sell, the capital asset can be deemed to have been transferred. The Hon'ble thus held that the transfer was compete on the execution of agreement to sell and that

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

In the result, the appeal of the Revenue is dismissed

54,08,500/-.\n3. Aggrieved assessee preferred appeal before the CIT(A) who after considering the submissions of the assessee and also placing reliance on the decision of this Tribunal dated 19.07.2022 passed in the case of one of the co-owners, namely Shri Pravinchandra Walchand Shah accepted the assessee's contention that part payment made

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 used for residence. 54. (1) Subject to the provisions of sub-section (2), where, in the case of an assessee being an individual or a Hindu undivided family, the capital gain arises from the transfer of a long-term capital asset, being buildings or lands appurtenant thereto, and being a residential house

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

Bench: Shri Rama Kanta Panda & Shri Satbeer Singh Godara

house property, he would be entitled to exemption under 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

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

Bench: Shri Rama Kanta Panda & Shri Satbeer Singh Godara

house property, he would be entitled to exemption under 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

INCOME TAX OFFICER, WARD-1(1), NASHIK, NASHIK vs. MICO EMPLOYEES CREDIT COOP SOCIETY LTD., NASHIK

In the result, the appeal of the Revenue is dismissed

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

house property. The Appellant has claimed the whole of its business income as deduction u/s 80P(2)(a)(i). 6.1. While completing assessment, the AO held that interest income from deposits with nationalised banks (Rs.1,54,21,304) was outside the purview of business income. The AO argued that such interest was earned by investment of surplus funds and hence

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]

54 Taxman 175 (Allahabad)  CIT Vs. Maithan International 375 IR 123 (Calcuta)  Gee Vee Enterprises Vs. Addl. CIT 99 ITR 375 (Delhi)  CIT Vs. Ballarpur Industries Ltd. [2017] 85 taxmann.com 10 (Bombay)  CIT Vs. M.M.Khambhatwala 198 ITR 144 (Guj)  CIT Vs. Ashok Logani (11 taxmann.com 208, 347 ITR 22) (Delhi HC) 11 Ashish Niranjan Shah [A]  PCIT Vs. Shri Braham

DHAS KISHOR RAMCHANDRA, AURANGABAD vs. DWARKAPRASAD BHIKULAL SONI, JALNA

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

Bench: SHRI R. K. PANDA (Vice President), SHRI VINAY BHAMORE (Judicial Member)

54,131/- i.e. difference between value worked out by Ld. AO and Appellant divided by / Rs. 2,34,67,670/- paid up capital * Rs. 10/- face value of equity shares. 5.2.3 Further, in the valuation report of the valuer Shri Vishal Holani, CA, he has deducted the provision for gratuity and considered as liability which is payable in near future

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

54,87,170/-. 3. Thereafter, assessment records were examined by ld. PCIT within the powers conferred u/s.263 of the Act and he observed that on certain immovable properties the assessee has shown rental income during the year and has claimed depreciation at Rs.81,24,101/- by observing that when income from let out property has been offered under the head

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