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

65,24,551/- before the Settlement Commission for various years, the details of which are as under: A.Y. Income offered in return in Additional income response to notice u/s 153A offered in SOF 2007-08 1

MANGILAL LAKAHJI CHOWDHARY,,PUNE vs. INCOME-TAX OFFICER, WARD - 3(1),, PUNE

Appeal is partly allowed in above terms

Bench: Shri S.S.Godara & Dr.Dipak P.Ripoteआयकरअपीलसं. / Ita No.2791/Pun/2017 िनधा"रण वष" / Assessment Year: 2013-14

section 41(1) of the Act. We therefore delete this former addition of Rs.1,65,000/- for the very precise reason. 3. Next comes rent disallowance of Rs.1,20,000/- paid by the assessee to his wife which has been held as a colourable device to reduce taxable income on his behalf. We make it clear that there

KUMAR PROPERTIES AND REAL ESTATE PRIVATE LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 14, PUNE

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S.Viswanethra Raviआयकर अपील सं. / Ita No.2977/Pun/2017 िनधा"रण वष" / Assessment Year 2013-14 Kumar Properties & Real Estate Vs. Dcit, Circle-14, Private Limited, Pune Ist Floor, Kumar Capital, East Street, Camp, Pune – 411 001 Pan : Aaack7490H Appellant Respondent Assessee By Shri Rajan Vora & Shri Rajendra Agiwal Revenue By Shri Vitthal Bhosale Date Of Hearing 27.04.2021 Date Of Pronouncement 28-04.2021 आदेश / Order Per R.S. Syal, Vp : This Appeal By The Assessee Is Directed Against The Order Passed By The Cit(A)-7, Pune On 01.09.2017 In Relation To The Assessment Year 2013-14. 2. The Assessee Has Assailed Confirmation Of Addition Of Rs.1,47,65,688/- Towards Deemed Rental Income On Stock-In-Trade Of Unsold Flats/Bungalows Held By The Assessee, As A First Major Issue. Succinctly, The Factual Panorama Of The Case Is That The Assessee Has Been Engaged In The Business Of Development Of Properties With The Projects `Kumar Infinia’ & `Kumar Picasso’

65,688/- and made addition for the same. The ld. CIT(A) echoed the addition, against which the assessee has approached the Tribunal. 3. We have heard the rival submissions through Virtual Court and gone through the relevant material on record. Indisputably, the assessee has been engaged in the business of development of properties. Certain flats/bungalows

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

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

65 of the paper book, drew the attention of the Bench to question No.10 where the Assessing Officer had asked the following queries: “10. In the details of sales filed it is seen that a flat has been sold to Mr Sameer Kotkar admeasuring 1316 sq ft for a consideration of Rs.60,39,200 when the stamp duty value

DCIT CIRCLE 1 NASHIK, NASHIK vs. SHREE SAI PROPERTIES, NASHIK

In the result, appeal of the Revenue is dismissed

Bench: Dr. Manish Borad & Shri Vinay Bhamore

65. Naveen Kumar Gupta Follows para 39 - Pr. CIT vs Abhisar [Delhi] ITA No. 401/2022 Buildwell (P) Ltd (2023) 454 ITR 212 (SC). dtd 20-11-2024 [168 Para 20 for the issue to be decided by the taxmann.com 574 Hon. HC. (Del)(20-11-2024)] The Hon’ble Delhi High Court has not concurred with the Rajasthan High Court

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

Section 269SS of the Act are clearly attracted in respect of the cash accepted of Rs. 1,37,73,000/- accepted by the assessee from its customers otherwise than by an account payee cheque or account payee bank draft or use of electronic clearing system through bank account. Therefore a penalty of Rs. 1,37,73,000/- being imposed

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.

house property to business income, is enhancement in the facts and circumstances of this case and it is also a fact that no opportunity wasgiven to the assessee before such enhancement. This failure to issue show cause goes to the root of the issue of powers of CIT(A) of enhancement. Therefore, for the reasons discussed ,respectfully following the ITAT

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.

house property to business income, is enhancement in the facts and circumstances of this case and it is also a fact that no opportunity wasgiven to the assessee before such enhancement. This failure to issue show cause goes to the root of the issue of powers of CIT(A) of enhancement. Therefore, for the reasons discussed ,respectfully following the ITAT

MICHELLE Y. POONAWALLA,PUNE vs. DCIT, CIRCLE-7, PUNE

In the result, appeal of the Assessee is dismissed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपीलसं. / Ita No.75/Pun/2020 िनधा"रण वष" / Assessment Year : 2014-15 Michelle Yohan Poonawalla, The Dy.Cit, Circle-7, Pune. 16/B-1, Sarosh Bhavan, 2Nd Vs Floor, Dr.Ambedkar Road, . Opp.Niv, Pune – 411001. Pan: Aanpv 5236 G Appellant/ Assessee Respondent /Revenue Assessee By Shri Bharat Patel – Ar Revenue By Shri S P Walime & Shir Arvind Desai – Dr Date Of Hearing 24/06/2022 Date Of Pronouncement 28/07/2022 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Is Directed Against The Order Of Ld.Commissioner Of Income Tax(Appeals)-8, Pune Dated 31.12.2019For The A.Y.2014-15.The Assessee Has Raised The Following Grounds Of Appeal: “The Following Grounds Are Taken Without Prejudice To Each Other - On Facts & Circumstances Of The Case & In Law, 1] The Learned Cit(A) Failed To Appreciate The Fact That - A. In Order To Arrive At Actual Rent As Defined U/Sec.23(1)(D) In Case Of Let Out Property, Expenditure Incurred For Earning Such Rent Shall Be Deducted At Threshold Level Itself. B. Principles Of Real Income Are Ignored While Denying Deduction Of Interest Paid By Appellant For Acquiring Possession Of Property (I.E. Flat No.11, Breach Candy Garden, Mumbai) From Statutory Tenant. 2] The Learned Cit(A) Failed To Appreciate That Payment Of

1)(d) in case of let out property, expenditure incurred for earning such rent shall be deducted at threshold level itself. b. Principles of real income are ignored while denying deduction of interest paid by appellant for acquiring possession of property (i.e. Flat No.11, Breach Candy Garden, Mumbai) from statutory tenant. 2] The learned CIT(A) failed to appreciate that

RAJDEEP BUILDCON PVT LTD, AHMEDNAGAR,AHMEDNAGAR vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1(2), PUNE, PUNE

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

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

House, Near Bhide Hospital, Savedi, Ahmednagar- 414003. PAN : AAACR8605D Appellant Respondent Assessee by : Smt. Deepa Khare Revenue by : Shri Ajay Kumar Keshari Date of hearing : 25.06.2024 Date of pronouncement : 18.09.2024 आदेश / ORDER PER VINAY BHAMORE, JM: The above captioned three appeals filed by the assessee are directed against the separate orders dated 27.04.2022 passed by ld. CIT(A)-11, Pune

RAJDEEP BUILDCON PRIVAT LIMITED, AHMEDNAGAR,AHMEDNAGAR vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1(2), PUNE, PUNE

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

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

House, Near Bhide Hospital, Savedi, Ahmednagar- 414003. PAN : AAACR8605D Appellant Respondent Assessee by : Smt. Deepa Khare Revenue by : Shri Ajay Kumar Keshari Date of hearing : 25.06.2024 Date of pronouncement : 18.09.2024 आदेश / ORDER PER VINAY BHAMORE, JM: The above captioned three appeals filed by the assessee are directed against the separate orders dated 27.04.2022 passed by ld. CIT(A)-11, Pune

RAJDEEP BUILDCOM PRIVATE LIMITED,AHMEDNAGAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 1(2), PUNE, PUNE

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

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

House, Near Bhide Hospital, Savedi, Ahmednagar- 414003. PAN : AAACR8605D Appellant Respondent Assessee by : Smt. Deepa Khare Revenue by : Shri Ajay Kumar Keshari Date of hearing : 25.06.2024 Date of pronouncement : 18.09.2024 आदेश / ORDER PER VINAY BHAMORE, JM: The above captioned three appeals filed by the assessee are directed against the separate orders dated 27.04.2022 passed by ld. CIT(A)-11, Pune

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

65,920/- 22,70,000/- Navkar (shop) 2 Flat at Bombay 10,63,732/- 1,80,000/- 3 Office at Sumit Plaza 2,48,728/- 1,20,000/- Shop No.46 4 Warehouse at Vadki 26,45,721/- 18,58,280/- (60% portion) 81,24,101/- 44,28,280/- 10. We further notice that during the course of impugned proceedings assessee

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

1) of section 54, the same provides that the assessee shall be eligible for deduction u/s.54 if the assessee has purchased a residential house one year before or two years after the date of which the transfer took place or has within a period of three years after that date constructed one residential house in India. There is no reference

MICHELLE Y.POONAWALLA,,PUNE vs. PR. COMMISSIONER OF INCOME-TAX, 4 ,, PUNE

In the result, the appeal of assessee is dismissed

Bench: Shri S.S. Viswanethra Ravi & Dr. Dipak P. Ripote

65,600/- which was accepted by the AO vide its order dated 31- 12-2015 passed u/s. 143(3) of the Act. The PCIT having exercising jurisdiction u/s. 263 of the Act found the claim of deduction of interest of Rs.1,11,54,990/- on borrowed capital is not allowable and does not fit into the conditions laid down

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

Bench: Shri Rama Kanta Panda & Shri Satbeer Singh Godara

1(5), [2008] 173 Taxman 311 (Bombay). 5.3. I have gone through the said judgement quoted by the AO. In that case the seller of original property did not buy in joint name but in the sole name of his son and his name was not mentioned as a owner in the new property. Thus the facts of the case

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

Bench: Shri Rama Kanta Panda & Shri Satbeer Singh Godara

1(5), [2008] 173 Taxman 311 (Bombay). 5.3. I have gone through the said judgement quoted by the AO. In that case the seller of original property did not buy in joint name but in the sole name of his son and his name was not mentioned as a owner in the new property. Thus the facts of the case