JAYNT VASUDEO ARADHYE,SOLAPUR vs. DCIT, CIRCLE-1, SOLAPUR, SOLAPUR

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.683/Pun/2024 िनधा"रण वष" / Assessment Year: 2022-23 Jaynt Vasudeo Aradhye, Vs. Dcit, Circle-1, Solapur. Villa No.25, Indradhanu, Laxmi Peth, Vishnu Mill Compound, Solapur- 413001. Pan : Aappa8903M Appellant Respondent Assessee By : Shri Deepak Chintaman Gadgil Revenue By Shri Ramnath P. Murkunde : Date Of Hearing 06.08.2024 : Date Of Pronouncement : 21.10.2024 आदेश / Order Per Vinay Bhamore, Jm: This Appeal Filed By The Assessee Is Directed Against The Order Dated 07.02.2024 Passed By Ld. Addl./Jcit(A)-1, Coimbatore For The Assessment Year 2022-23 2. The Appellant Has Raised The Following Grounds Of Appeal :- “I. The Cpc Was Not Correct Both Factually & Legally In Not Considering The Claim Of Brought Forwarded Short Term Capital Loss Of Rs 27,78,028/-. 11. Section 143(1) As It Stands On The Statute Books As On Today, Does Not Permit Either Cpc Or The Ao To Make Such Adjustments As They Are Beyond The Scope Of The Said Section.

house property” with any other head of income: (iii) by claiming the depreciation, if any, under any provision of section 32, except clause (iia) of sub-section (1) of the said section, determined in such manner as may be prescribed; and 4 (iv) without any exemption or deduction for allowances or perquisite, by whatever name called, provided under any other

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.

Properties Pvt. Ltd.,) AO had assessed the impugned income as Long-Term capital gain and Short- Term capital Gain, whereas the CIT(A) held the impugned income as Income from business. The Tax rate for Business income is more than that for capital gain. While calculating Long term Capital gain (LTCG), the assessee can take advantage of indexation of cost

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.

Properties Pvt. Ltd.,) AO had assessed the impugned income as Long-Term capital gain and Short- Term capital Gain, whereas the CIT(A) held the impugned income as Income from business. The Tax rate for Business income is more than that for capital gain. While calculating Long term Capital gain (LTCG), the assessee can take advantage of indexation of cost

ARUNKUMAR PURSHOTAMLAL KHANNA,PUNE vs. PRINCIPAL COMMISSIONER OF INCOME-TAX (CIRCLE), PUNE

Appeal is partly allowed in above terms

Bench: Shri S. S. Godara & Shri Dr. Dipak P. Ripoteआयकर अपीऱ सं. / Ita No.181/Pun/2021 निर्धारण वर्ा / Assessment Year: 2015-16 Arunkumar Purshotamlal Vs. Pcit (Central), Pune. Khanna, Flat No.3123/3124, Clover Palisades, Nibm Road, Kondhwa, Pune- 411048. Pan : Agipk3043K Appellant Respondent

short “the Act”. Heard both the parties. Case file perused. 2 2. The assessee’s instant appeal challenges correctness of learned PCIT’s section 263 revision directions issued to the Assessing Officer that his corresponding section 143(3) regular assessment dated 14.12.2017 framed an erroneous one so far as it causes prejudice to interest of the Revenue in accepting

M/S. CHAKRABARTY MEDICAL CENTRE,,PUNE vs. INCOME-TAX OFFICER,,

In the result, appeal of assessee is allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.1137/Pun/2016 यििाारण वषा / Assessment Year : 2008-09 M/S. Chakrabarty Medical Centre, C-802, Palmdale, California Apartments, Nibm, Undri Road, अऩीऱाथी/Appellant Pune – 411060 …. Pan: Aabfc5809Q Vs. The Income Tax Officer, …. प्रत्यथी / Respondent Ward 1, Ahmednagar अऩीऱाथी की ओर से / Appellant By : Shri Nikhil Pathak प्रत्यथी की ओर से / Respondent By : Shri Sanjeev Ghei

property was shown as its asset and was sold on 15.11.2007 i.e. before dissolution of the firm. The Assessing Officer was of the view that the land and building being depreciable asset, gain arising was to be assessed under section 50 of the Act and the short term capital gain on sale of land and building worked

ASSISTANT COMMISSIONER OF INCOME-TAX vs. SHRI RANJIT HANMANTRAO MOHITE,, PUNE

In the result, the appeal of Revenue is dismissed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am

short term and the same had never been done with a view to make an investment Further, the period of holding and the funds utilized in the said shares by the appellant is also an indication of the intention of the appellant to trade in them and not make any investment for earning long term gains or earn divided income

CHANDRASHEKHAR BAGADE,PUNE vs. ITO WARD 5(1), PUNE

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2013-14 Chandrashekhar Bagade Ito, Ward 5(1), Pune F 5, Windmill Village, Vs. Opp Ambrosiya, Paud Road, Pune – 411021 Pan: Amxpb8229M (Appellant) (Respondent) Assessee By : Shri Sharad A Vaze Department By : Shri Ramnath P Murkunde Date Of Hearing : 30-07-2025 Date Of Pronouncement : 31-07-2025 O R D E R

term capital gain qua the land. However, he rejected the claim of exemption u/s 54F of the Act as the new residential property was not complete within three years from the date of transfer. The assessee filed an appeal before the CIT(A) who treated the entire capital gain arising from row houses as short

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. ATUL OMPRAKASH MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

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

short term capital loss in their books of accounts. The assessee Shri Ashish Omprakash Mantri was one such beneficiary and the amount involved in his case is Rs.1,60,30,716/-. 5. After receiving the above information, the Assessing Officer carried out investigations and found that the share price of the above company i.e. NITSL rose from Rs.39

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. PRAMILA OMPRAKASH MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

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

short term capital loss in their books of accounts. The assessee Shri Ashish Omprakash Mantri was one such beneficiary and the amount involved in his case is Rs.1,60,30,716/-. 5. After receiving the above information, the Assessing Officer carried out investigations and found that the share price of the above company i.e. NITSL rose from Rs.39

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. OMPRAKASH ASARAM MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

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

short term capital loss in their books of accounts. The assessee Shri Ashish Omprakash Mantri was one such beneficiary and the amount involved in his case is Rs.1,60,30,716/-. 5. After receiving the above information, the Assessing Officer carried out investigations and found that the share price of the above company i.e. NITSL rose from Rs.39

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. OMPRAKASH ASARAM MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

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

short term capital loss in their books of accounts. The assessee Shri Ashish Omprakash Mantri was one such beneficiary and the amount involved in his case is Rs.1,60,30,716/-. 5. After receiving the above information, the Assessing Officer carried out investigations and found that the share price of the above company i.e. NITSL rose from Rs.39

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. ASHISH OMPRAKASH MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

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

short term capital loss in their books of accounts. The assessee Shri Ashish Omprakash Mantri was one such beneficiary and the amount involved in his case is Rs.1,60,30,716/-. 5. After receiving the above information, the Assessing Officer carried out investigations and found that the share price of the above company i.e. NITSL rose from Rs.39

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. ATUL OMPRAKASH MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

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

short term capital loss in their books of accounts. The assessee Shri Ashish Omprakash Mantri was one such beneficiary and the amount involved in his case is Rs.1,60,30,716/-. 5. After receiving the above information, the Assessing Officer carried out investigations and found that the share price of the above company i.e. NITSL rose from Rs.39

INCOME TAX OFFICER, WARD -1, JALNA, JALNA vs. PRAMILA OMPRAKASH MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

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

short term capital loss in their books of accounts. The assessee Shri Ashish Omprakash Mantri was one such beneficiary and the amount involved in his case is Rs.1,60,30,716/-. 5. After receiving the above information, the Assessing Officer carried out investigations and found that the share price of the above company i.e. NITSL rose from Rs.39

RAJENDRA L.AGARWAL,,PUNE vs. INCOME-TAX OFFICER, (INTERNATIONAL TAXATION -I),, PUNE

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं आयकर अपील सं. / Ita No. 2330/Pun/2017 आयकर अपील सं आयकर अपील सं िनधा"रण वष" / Assessment Year : 2012-13 िनधा"रण वष" िनधा"रण वष" िनधा"रण वष"

house Rs.2,02,574/- 2. The learned CIT(A) erred in disallowing the set off of short term capital loss of Rs.8,39,15,000/- incurred by the appellant on sale of equity shares against the capital gains chargeable to tax. 3. The learned CIT(A) erred in holding that the above transaction of sale of equity shares was sham

PRIDE AND EXPERT PROPERTIES PRIVATE LIMITED,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1 (1) , PUNE

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

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

Properties Pvt. Ltd. A.Y. 2013-14 description of the assets by the assessee in the balance sheet as in investment asset according to the ld. A.O was meaningless and was only to avoid payment of tax on short term capital gain on sale of building. The ld. AO held that so long as the assessee continued business, the offices forming

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”].

short term capital gain of Rs. 2,11,38,477/-. ITA No.1751/PUN/2018 for A.Y. 2013-14 (A) Shri Ulhas M. Patil 5.4 During appellate proceedings the appellant submitted that the appellant has inadvertently declared the rent received as income from business instead of income from house property

DEPUTY COMMISSSIONER OF INCOME TAX, CIRCLE -1,, AURANGABAD vs. ENDURANCE TECHNOLOGIES PVT. LTD,, AURANGABAD

Appeals are dismissed in above terms

Bench: Shri S.S.Godara, Jm & Shri Dr. Dipak P. Ripote, Am आयकर अपीऱ सं. / Ita No. 989/Pn/2015 ननधधारण वषा / Assessment Year : 2010-11

house property‖, ―Capital gains‖ and ―Income from other sources‖], or a company or granting of loans and advances) consists in the purchase and sale of shares of other companies such company shall, for the purposes of this section, be deemed to be carrying on a speculation business to the extent to which the business consists of the purchase and sale