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.

80-IB(10), being a condition linked to the date of the approval of the housing project, would not apply to any housing project that was approved prior to 31st March, 2005 irrespective of the fact that the profits of said housing project are brought to tax after the said provision was brought into force.” 22) At this juncture

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.

80-IB(10), being a condition linked to the date of the approval of the housing project, would not apply to any housing project that was approved prior to 31st March, 2005 irrespective of the fact that the profits of said housing project are brought to tax after the said provision was brought into force.” 22) At this juncture

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

80) 6 1. Balance sheet/statement of affairs along with detailed schedules 2. Bank account statement 3. Evidence is respect of investment made in properties 4. Evidence in investment in capital gains scheme account 5. Capital gains or loss computation statement (iii) Submission filed on 3-7-2019 giving the following details: (Page 81) (a) Evidence regarding cost of improvement

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. GREAT FORTUNE INVESTMENTS AND INFRASTRUCTURE PVT.LTD,,NASHIK vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 1,, NASHIK

The appeal of the assessee is allowed

Bench: Shri S.S.Viswanethra Ravi, Hon’Ble Jm & Dr. Dipak P. Ripote, Hon’Ble Am आयकरअपीलसं. / Ita No.2325/Pun/2017 निर्ाारण वषा / Assessment Year : 2014-15 Great Fortune Investments & The Assistant Commissioner Of Infrastructure Pvt. Ltd., Vs Income Tax, Shop No.6, Rushiraj Heights, Near Cirlce-1, Nashik. Nmc Water Tank, Parijat Nagar, Mahatma Nagar, Nahik. Pan: Aaccg 6406 F Appellant/ Assessee Respondent /Revenue Assessee By Shri Sanket M Joshi – Ar Revenue By Shri S.P.Walimbe - Dr Date Of Hearing 10/02/2022 Date Of Pronouncement 08/04/2022

house property at Walkeshwar, Mumbai at ₹ 80,500/-, after deduction of ₹ 34,500/- for repairs and collection charges from the total rent receipt of ₹ 1,15,000/-. The flat was 1169 sq. ft. in area and it was let out on rent to the associate concern M/s. Avinash Construction. The Assessing Officer observed that the property was purchased

KUMAR URBAN DEVELOPMENT PVT. LTD (SUCCESSOR KUMAR HOUSING CORPORATION PVT LTD),PUNE vs. DCIT CIRCLE 14, PUNE

In the result, both the appeals filed by the assessee are allowed and the

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

80,777/-. The case was selected under CASS. Notices u/s 143(2) and 142(1) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') were issued and served on the assessee in response to which the AR of the assessee appeared before the Assessing Officer from time to time and filed the requisite details. 3. The Assessing

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE - 1(1),, PUNE vs. BALKRISHNAN SHANMUGHAM CHETTIAR, ALIAS S. BALAN,, PUNE

Appeals are dismissed in above terms

Bench: Shri S.S.Godara & Shri Inturi Rama Raoआयकर अपीलसं. / Ita No’S.110, 111 & 112/Pun/2021 िनधा"रणवष" / Assessment Years : 2015-16, 2016-17 & 2017-18 The Asst. Commissioner Of M/S.Balkrishna Shanmugham Income Tax, Central Circle- Vs Chettiar Alias S. Balan, 1(1), Pune. . 1133/5, Nirankar F.C.Road, Shivaji Nagar, Pune – 411016. Pan: Aalpc 5158 J Appellant/ Assessee Respondent /Revenue Assessee By Shri M R Bhagwat – Ar Revenue By Shr Ramnath P Murkunde – Dr Date Of Hearing 08/09/2022 Date Of Pronouncement 16/11/2022 आदेश/ Order Per S.S.Godara, Jm: These Revenue’S Three Appeals For Ays 2015-16 To 2017-18 Arise Against The Commissioner Of Income Tax(Appeal)-11, Pune’S Separate Orders; All Dated 20.01.2021, Passed In Case Nos.Itba/Apl/S/250/2020-21/1029928824(1), Itba/Apl/S/ 250/2020-21/1029929977(1) & Itba/Apl/S/250/2020- 21/1029930177(1); Respectively, In Proceedings U/S.250 Of The Income Tax Act, 1961 [In Short “The Act”].

80 !A(4)(iii) of the Act in respect of the income derived from the Industrial Park. The AO has noted in his assessment order that the claim of deduction has been disallowed during the assessment proceedings for A.Y. 2012-13, 2.013-14 and also 2014-15. The AO has held that the claim of deduction u/s 80iA

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE - 1(1),, PUNE vs. BALKRISHNAN SHANMUGHAM CHETTIAR, ALIAS S. BALAN,, PUNE

Appeals are dismissed in above terms

Bench: Shri S.S.Godara & Shri Inturi Rama Raoआयकर अपीलसं. / Ita No’S.110, 111 & 112/Pun/2021 िनधा"रणवष" / Assessment Years : 2015-16, 2016-17 & 2017-18 The Asst. Commissioner Of M/S.Balkrishna Shanmugham Income Tax, Central Circle- Vs Chettiar Alias S. Balan, 1(1), Pune. . 1133/5, Nirankar F.C.Road, Shivaji Nagar, Pune – 411016. Pan: Aalpc 5158 J Appellant/ Assessee Respondent /Revenue Assessee By Shri M R Bhagwat – Ar Revenue By Shr Ramnath P Murkunde – Dr Date Of Hearing 08/09/2022 Date Of Pronouncement 16/11/2022 आदेश/ Order Per S.S.Godara, Jm: These Revenue’S Three Appeals For Ays 2015-16 To 2017-18 Arise Against The Commissioner Of Income Tax(Appeal)-11, Pune’S Separate Orders; All Dated 20.01.2021, Passed In Case Nos.Itba/Apl/S/250/2020-21/1029928824(1), Itba/Apl/S/ 250/2020-21/1029929977(1) & Itba/Apl/S/250/2020- 21/1029930177(1); Respectively, In Proceedings U/S.250 Of The Income Tax Act, 1961 [In Short “The Act”].

80 !A(4)(iii) of the Act in respect of the income derived from the Industrial Park. The AO has noted in his assessment order that the claim of deduction has been disallowed during the assessment proceedings for A.Y. 2012-13, 2.013-14 and also 2014-15. The AO has held that the claim of deduction u/s 80iA

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE - 1(1),, PUNE vs. BALKRISHNAN SHANMUGHAM CHETTIAR, ALIAS S. BALAN,, PUNE

Appeals are dismissed in above terms

Bench: Shri S.S.Godara & Shri Inturi Rama Raoआयकर अपीलसं. / Ita No’S.110, 111 & 112/Pun/2021 िनधा"रणवष" / Assessment Years : 2015-16, 2016-17 & 2017-18 The Asst. Commissioner Of M/S.Balkrishna Shanmugham Income Tax, Central Circle- Vs Chettiar Alias S. Balan, 1(1), Pune. . 1133/5, Nirankar F.C.Road, Shivaji Nagar, Pune – 411016. Pan: Aalpc 5158 J Appellant/ Assessee Respondent /Revenue Assessee By Shri M R Bhagwat – Ar Revenue By Shr Ramnath P Murkunde – Dr Date Of Hearing 08/09/2022 Date Of Pronouncement 16/11/2022 आदेश/ Order Per S.S.Godara, Jm: These Revenue’S Three Appeals For Ays 2015-16 To 2017-18 Arise Against The Commissioner Of Income Tax(Appeal)-11, Pune’S Separate Orders; All Dated 20.01.2021, Passed In Case Nos.Itba/Apl/S/250/2020-21/1029928824(1), Itba/Apl/S/ 250/2020-21/1029929977(1) & Itba/Apl/S/250/2020- 21/1029930177(1); Respectively, In Proceedings U/S.250 Of The Income Tax Act, 1961 [In Short “The Act”].

80 !A(4)(iii) of the Act in respect of the income derived from the Industrial Park. The AO has noted in his assessment order that the claim of deduction has been disallowed during the assessment proceedings for A.Y. 2012-13, 2.013-14 and also 2014-15. The AO has held that the claim of deduction u/s 80iA

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

YOGITA MANOJ TATOOSKAR,PUNE vs. ITO 12(1), PUNE

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

Bench: Ms.Astha Chandra & Dr.Dipak P. Ripoteआयकर अपील सं. / Ita No.2714/Pun/2024 िनधा"रण वष" / Assessment Year: 2012-13 Yogita Manoj Tatooskar, V The Income Tax Officer, 504, Anandban, Chs, Ashok S Ward-12(1), Pune. Path, Maharashtra – 411004. Pan: Abopt9276A Appellant/ Assessee Respondent / Revenue Assessee By Shri Nikhil S Pathak – Ar Miss Indira R Adkil – Add.Cit(Dr) Revenue By Date Of Hearing 27/01/2025 Date Of Pronouncement 28/01/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeals)[Nfac], Under Section 250 Of The Income Tax Act, 1961 For The A.Y.2012-13; Dated 28.10.2024; Emanating From Assessment Order Under Section 143(1) Of The Income Tax Act, 1961 Dated 15.11.2013. The Assessee Has Raised The Following Grounds Of Appeal : “1. The Learned Cit(A) Erred In Dismissing The Appeal Of The Assessee On The Ground That The Appellant Had Failed To Submit The

section 143(1) of the Act, Income from House Property was enhanced from Rs.1,30,752/- to Rs.9,73,010/-. The Assessee claimed before ld.CIT(A) that Assessee is one of the owners of a showroom wherein Assessee’s share is 25%. They have received Rent of Rs.16,04,300/-. After deducting 30%, Assessee’s share comes to Rs.2,80

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 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

ASSISTANT COMMISSIONER OF INCOME-TAX, ICHALKRANJI CIRCLE ,, ICHALKRANJI vs. SANJAY DANCHAND GHODAWAT (HUF),, KOLHAPUR

In the result, appeal of the Revenue in ITA No

Bench: Shri R.S.Syal, Vp & Shri Partha Sarathi Chaudhury, Jm

house property and income from other sources whereas as per Section 80IA(1) of the Act, the said deduction is envisaged out of profit and gains from the eligible business only. 4. For illustrating the issue in question and related facts therein, we would take up ITA No.2738/PUN/2017 for the assessment year 2010-11 as lead case for adjudication. A.Y.2010-11

ASSISTANT COMMISSIONER OF INCOME-TAX, ICHALKRANJI CIRCLE ,, ICHALKRANJI vs. SANJAY DANCHAND GHODAWAT (HUF),, KOLHAPUR

In the result, appeal of the Revenue in ITA No

Bench: Shri R.S.Syal, Vp & Shri Partha Sarathi Chaudhury, Jm

house property and income from other sources whereas as per Section 80IA(1) of the Act, the said deduction is envisaged out of profit and gains from the eligible business only. 4. For illustrating the issue in question and related facts therein, we would take up ITA No.2738/PUN/2017 for the assessment year 2010-11 as lead case for adjudication. A.Y.2010-11

ASSISTANT COMMISSIONER OF INCOME-TAX, ICHALKRANJI CIRCLE ,, ICHALKRANJI vs. SANJAY DANCHAND GHODAWAT (HUF),, KOLHAPUR

In the result, appeal of the Revenue in ITA No

Bench: Shri R.S.Syal, Vp & Shri Partha Sarathi Chaudhury, Jm

house property and income from other sources whereas as per Section 80IA(1) of the Act, the said deduction is envisaged out of profit and gains from the eligible business only. 4. For illustrating the issue in question and related facts therein, we would take up ITA No.2738/PUN/2017 for the assessment year 2010-11 as lead case for adjudication. A.Y.2010-11