ASSISTANT COMMISSIONER OF INCOME TAX, JALGAON vs. SIDHARTH RATANLAL BAFNA, JALGAON

term capital gain of Rs.1,44,35,387/- claimed as exempt u/s 10(38) of the Act\nafter considering the reply of the assessee to the specific queries put by him. We\nfind on the basis of information obtained from the Investigation wing that the\nassessee has sold his investments in penny stock company NITSL, reopened the\nassessment after recording

ASSISTANT COMMISSIONER OF INCOME TAX, JALGAON vs. SIDHARTH RATANLAL BAFNA, JALGAON

term capital\ngain to which the assessee has replied and thereafter the Assessing Officer has\npassed the order u/s 143(3) r.w.s.153B of the Act accepting such exempt long term\ncapital gain. Therefore, the assessment in our opinion could not have been\nreopened u/s 148 of the Act for the same transaction in absence of any fresh\ntangible material

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. 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. 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. 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. 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. ASHISH OMPRAKASH MANTRI, JALNA

term capital gain of Rs.1,44,35,387/- claimed as exempt u/s 10(38) of the Act\nafter considering the reply of the assessee to the specific queries put by him. We\nfind on the basis of information obtained from the Investigation wing that the\nassessee has sold his investments in penny stock company NITSL, reopened the\nassessment after recording

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

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

short ‘NFAC’) which in turn is arising out of the Assessment order passed u/s.143(3) of the Act dated 25.03.2014. 2. The brief facts anent to this appeal are that the assessee is an individual and is stated to be engaged in the business of Sales Services of Computers and Data Processing under the name & Style “True Line Computers. Income

RAMSING HIMMATSING RAJPUT,NASHIK vs. ITO, WARD 2(1), NASHIK

Bench: Shri Inturi Rama Rao & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.601/Pun/2024 िनधा"रण वष" / Assessment Year : 2015-16 Ramsing Himmatsing Vs. Ito, Ward-2(1), Nashik. Rajput, Plot No.17, Usha Bunglow, Near Seven Heven Hotel, Behind Lotus House, Chetna Nagar, Nashik- 422009. Pan : Adrpr2780A Appellant Respondent Assessee By : Shri Sanket Joshi Revenue By : Shri Manoj Tripathi Date Of Hearing : 02.05.2024 Date Of Pronouncement : 16.05.2024 आदेश / Order Per Vinay Bhamore, Jm: This Appeal Filed By The Assessee Is Directed Against The Order Dated 19.02.2024 Passed By Ld Cit(A)/Nfac For The Assessment Year 2015-16. 2. The Appellant Raised The Following Grounds Of Appeal :- “1] The Learned Cit(A) Erred In Confirming The Addition U/S 50C Of Rs. 14,25,000 By Taxing The Difference Between Govt. Valuation Of Rs.22,25,000 & Actual Sale Consideration Of Rs.8,00,000 Without Appreciating That The Impugned Land Located Near River Bank Was Vulnerable To Floods, It Was Situated Near Cremation

House, Chetna Nagar, Nashik- 422009. PAN : ADRPR2780A Appellant Respondent Assessee by : Shri Sanket Joshi Revenue by : Shri Manoj Tripathi Date of hearing : 02.05.2024 Date of pronouncement : 16.05.2024 आदेश / ORDER PER VINAY BHAMORE, JM: This appeal filed by the assessee is directed against the order dated 19.02.2024 passed by Ld CIT(A)/NFAC for the assessment year

M/S WATERFRONT HOUSING & HOSPITALITY PVT LTD,PUNE vs. INCOME TAX OFFICER, WARD-12(2), PUNE, PUNE

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

Bench: Shri Inturi Rama Raoआयकर अपील सं. / Ita No.1100/Pun/2023 िनधा"रण वष" / Assessment Year : 2015-16 M/S. Waterfront Housing & Vs. Ito, Ward-12(2), Pune. Hospitality Pvt. Ltd., 3Rd Floor, Rajyog Creations Apts, Anand Park, Aundh, Pune- 411007. Pan : Aaacw9020F Appellant Respondent Assessee By : Shri Hari Krishan Revenue By : Shri A. K. Mahala Date Of Hearing : 14.11.2023 Date Of Pronouncement : 15.11.2023 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of The National Faceless Appeal Centre, Delhi [‘Nfac’] Dated 21.08.2023 For The Assessment Year 2015-16. 2. The Appellant Raised The Following Grounds Of Appeal :- “1. The Disallowance Of Deduction U/S 48(Ii) Of The Income Tax Act From The Long Term Capital Gains, In Respect Of The Indexed Cost Of Interest Paid For The Acquisition Of The House Property Sold By The Assessee, Made By The Assessing Officer By Travelling Beyond The Issue For Which This Case Was Selected For Limited Scrutiny Under Cass Is Without Jurisdiction. 2. The Ld. Commissioner Of Income Tax (Appeals) Has Eared Is Not Allowing The Deduction Of Rs.24,38,826/- U/S 48(Ii) From The Long Term

property of each flat of Rs.77,11,300/-. The Assessing Officer had computed the short term capital gains by deducting the indexed cost acquisition from the value determined by the DVO and arrived at capital gains of Rs.41,68,078/- and brought to tax the same. 5. Being aggrieved by the above addition, an appeal was filed before the NFAC

RAJESH BALRAM SINGH ,PUNE vs. ACIT , PUNE

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

Bench: Ms. Astha Chandra & Shree Dr. Dipak P. Ripote

short term capital gain in the hands of the appellant although the land was ancestral agricultural property inherited by the entire family and not individually owned by the appellant. 2. The learned AO erred in law in not recognizing that the land was held for more than the statutory period and therefore any gain if computed is long term capital

AMRUTA VIVEK PADALIKAR,PUNE vs. ITO WARD 1(1), KOLHAPUR

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

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

Housing Soc Vs. Ltd., Dhayari Narhe Road, Dhayari, Pune City-411041 PAN : BKDPP1095C अपीलार्थी / Appellant प्रत्यर्थी / Respondent Assessee by : Shri Digambar Surwase Department by : Shri Vidya Ratna Kishore Date of hearing : 18-12-2025 Date of 21-01-2026 Pronouncement : आदेश / ORDER PER ASTHA CHANDRA, JM : The above two appeals filed by the assessee are directed against the separate orders

AMRUTA VIVEK PADALIKAR,PUNE vs. ITO WARD 1(1), KOLHPAUR

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

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

Housing Soc Vs. Ltd., Dhayari Narhe Road, Dhayari, Pune City-411041 PAN : BKDPP1095C अपीलार्थी / Appellant प्रत्यर्थी / Respondent Assessee by : Shri Digambar Surwase Department by : Shri Vidya Ratna Kishore Date of hearing : 18-12-2025 Date of 21-01-2026 Pronouncement : आदेश / ORDER PER ASTHA CHANDRA, JM : The above two appeals filed by the assessee are directed against the separate orders

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

Bench: Shri Rama Kanta Panda & Shri Satbeer Singh Godara

short “the Act”); respectively. Heard both the parties. Case files perused. 2 ITA.No.645, 666 & CO.No.19/PUN./2024 2. It emerges during the course of hearing that although both these parties have instituted their instant two respective appeals ITA.Nos.645 and 666/PUN./2024 with cross objection CO.No.19/PUN./2024 (supra); raising the solitary substantive issue of the assessee’s entitlement