TULSABAI VASANT DESHMUKH,PUNE vs. INCOME TAX OFFICER, WARD 6(2), PUNE

In the result, all the appeals (ITA Nos

Bench: Dr. Manish Borad & Shri Vinay Bhamore

u/s. 271(1)(c) of the Act. Here, we would like to take a note of the judgment of Hon'ble Supreme Court in the case of Reliance Petroproducts (P.) Ltd. (supra) wherein Hon'ble Court has held that “A mere making of the claim, which is not sustainable in law, by itself, will not amount to furnishing inaccurate particulars

SHRI DATTA SHETKARI SAHAKARI SAKHAR KARKHANA LTD,KOLHAPUR vs. DCIT, CIR-1, KOLHAPUR, KOLHAPUR

In the result the appeal filed by the assessee in ITA

Bench: Shri Manish Borad & Shri Vinay Bhamoresl.

u/s 271(1)(c) of the IT Act is not imposable if the issue was debatable. Ld. AR also relied on the judgement of Hon’ble Gujarat High Court passed in the case of CIT vs. Madhusudhan Industries Ltd., [2014] 47 taxmann.com 241 (Gujarat) wherein it was held that issue of deduction was debatable one on which two opinions were

SHRI DATTA SHETKARI SAHAKARI SAKHAR KARKHANA LTD,KOLHAPUR vs. DCIT, CIR-1, KOLHAPUR, KOLHAPUR

In the result the appeal filed by the assessee in ITA

Bench: Shri Manish Borad & Shri Vinay Bhamoresl.

u/s 271(1)(c) of the IT Act is not imposable if the issue was debatable. Ld. AR also relied on the judgement of Hon’ble Gujarat High Court passed in the case of CIT vs. Madhusudhan Industries Ltd., [2014] 47 taxmann.com 241 (Gujarat) wherein it was held that issue of deduction was debatable one on which two opinions were

SHRI DATTA SHETKARI SAHAKARI SAKHAR KARKHANA LTD,KOLHAPUR vs. DCIT, CIR-1, KOLHAPUR, KOLHAPUR

In the result the appeal filed by the assessee in ITA

Bench: Shri Manish Borad & Shri Vinay Bhamoresl.

u/s 271(1)(c) of the IT Act is not imposable if the issue was debatable. Ld. AR also relied on the judgement of Hon’ble Gujarat High Court passed in the case of CIT vs. Madhusudhan Industries Ltd., [2014] 47 taxmann.com 241 (Gujarat) wherein it was held that issue of deduction was debatable one on which two opinions were

SHRI DATTA SHETKARI SAHAKARI SAKHAR KARKHANA LTD,SHIROL vs. DCIT, CIR-1, KOLHAPUR, KOLHAPUR

In the result the appeal filed by the assessee in ITA

Bench: Shri Manish Borad & Shri Vinay Bhamoresl.

u/s 271(1)(c) of the IT Act is not imposable if the issue was debatable. Ld. AR also relied on the judgement of Hon’ble Gujarat High Court passed in the case of CIT vs. Madhusudhan Industries Ltd., [2014] 47 taxmann.com 241 (Gujarat) wherein it was held that issue of deduction was debatable one on which two opinions were

SHRI DATTA SHETKARI SAHAKARI SAKHAR KARKHANA LTD,KOLHAPUR vs. DCIT, CIR-1, KOLHAPUR, KOLHAPUR

In the result the appeal filed by the assessee in ITA

Bench: Shri Manish Borad & Shri Vinay Bhamoresl.

u/s 271(1)(c) of the IT Act is not imposable if the issue was debatable. Ld. AR also relied on the judgement of Hon’ble Gujarat High Court passed in the case of CIT vs. Madhusudhan Industries Ltd., [2014] 47 taxmann.com 241 (Gujarat) wherein it was held that issue of deduction was debatable one on which two opinions were

INTERVALVE POONAWALLA PVT. LTD.,PUNE vs. DCIT, CENTRAL CIRCLE 1(1), PUNE, PUNE

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2013-14 Intervalve Poonawalla Pvt. Ltd. Dcit, Central Circle 1(1), Fin Div. 16/B-1, Sarosh Bhavan, Pune Vs. 2Nd Floor, Dr. Ambedkar Road, Opp. Niv, Pune – 411001 Pan: Aaaci3917P (Appellant) (Respondent) Assessee By : Shri Nikhil S Pathak & Vishnu Bhutada Department By : Shri Ramnath P Murkunde Date Of Hearing : 14-05-2025 Date Of Pronouncement : 27-05-2025 O R D E R

14A to Rs.1,82,234/-. Subsequently, the Assessing Officer initiated penalty proceedings u/s 271(1)(c) of the Act. He noted that the assessee in its computation of income has disallowed meager amount of Rs.5,000/- as expenditure incurred for earning the dividend income to the tune of Rs.24,57,376/-. The Assessing Officer invoking the provisions of section

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, AURANGABAD, AURANGABAD vs. PRABHA FARMS PRIVATE LIMITED, AURANGABAD

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.1748/Pun/2024 िनधा"रण वष" / Assessment Year : 2013-14 Dcit, Circle-1, Vs. Prabha Farms Private Aurangabad. Limited, Akash, Paithan Road, Aurangabad- 431005. Pan : Aaccp3782D Appellant Respondent C. O. No.07/Pun/2025 (Arising Out Of Ita No.1748/Pun/2024) िनधा"रण वष" / Assessment Year : 2013-14 Prabha Farms Private Vs. Dcit, Circle-1, Limited, Aurangabad. Akash, Paithan Road, Aurangabad- 431005. Pan : Aaccp3782D Appellant Respondent Revenue By : Shri Arvind Desai Assessee By : Shri N. R. Agrawal Date Of Hearing : 24.02.2025 Date Of Pronouncement : 16.05.2025 आदेश / Order Per Vinay Bhamore, Jm: This Appeal Filed By The Revenue Is Directed Against The Order Dated 26.06.2024 Passed By Ld. Cit(A)/Nfac For The Assessment

u/s 271(1)(c) of the IT Act was deleted by observing as under :- “9. We are not concerned in the present case with the mens rea. However, we have to only see as to whether in this case, as a matter of fact, the assessee has given inaccurate particulars. In Webster's Dictionary, the word "inaccurate" has been defined

INTERVALVE POONAWALLA PVT. LTD. ,PUNE vs. DCIT, CENTRAL CIRCLE 1(1), PUNE, PUNE

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2014-15 Intervalve Poonawalla Pvt. Ltd. Dcit, Central Circle 1(1), Fin Div. 16/B-1, Sarosh Bhavan, Pune Vs. 2Nd Floor, Dr. Ambedkar Road, Opp. Niv, Pune – 411001 Pan: Aaaci3917P (Appellant) (Respondent) Assessee By : Shri Nikhil S Pathak & Vishnu Bhutada Department By : Shri Ramnath P Murkunde Date Of Hearing : 14-05-2025 Date Of Pronouncement : 04-06-2025 O R D E R

u/s 271(1)(c) of the Act on account of disallowance of provision for leave encashment of Rs.11,08,482/- which was claimed by the assessee by debiting the same to the Profit and Loss Account. It is an admitted fact that the assessee in the note at the end of the computation has stated that the provisions of section

CTR MANUFACTURING INDUSTRIES PRIVATE LIMITED,PUNE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1(1), PUNE, PUNE

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

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

u/s 14A cannot exceed the quantum of exempt income; Denial of claim of weighted deduction claimed under section 35(2AB) of the Act on expenditure incurred in Research & Development ('R&D') facility to the extent of Rs. 10,76,825.00 7. erred in denying the claim of weighted deduction of Rs.1 0,76,825.00 under section

DCIT, PUNE vs. BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED, PUNE

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

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

Penalty proceedings u/s 271(1)(c) of the income Tax Act, 1961 for furnishing inaccurate particulars of income.” 7. In appeal, the CIT(A) / NFAC following the order of the Tribunal in assessee’s own case for the preceding assessment years deleted all the above three additions. 8. Aggrieved with such order of CIT(A) / NFAC, the Revenue

DCIT, PUNE vs. BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED, PUNE

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

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

Penalty proceedings u/s 271(1)(c) of the income Tax Act, 1961 for furnishing inaccurate particulars of income.” 7. In appeal, the CIT(A) / NFAC following the order of the Tribunal in assessee’s own case for the preceding assessment years deleted all the above three additions. 8. Aggrieved with such order of CIT(A) / NFAC, the Revenue

JETSYNTHESYS PRIVATE LIMITED,PUNE vs. DCIT, CIRCLE-7, PUNE, PUNE

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

Bench: Shri Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.346/Pun/2025 िनधा"रण वष" / Assessment Year : 2017-18 Jetsynthesys Private Vs. Dcit, Circle-7, Pune. Limited, 101-104, 1St Floor, Metro House, Mangaldas Road, Pune- 411001. Pan : Aaicm1358A Appellant Respondent Assessee By : Shri Sarvesh Khandelwal Revenue By : Shri Ramnath P. Murkunde Date Of Hearing : 06.08.2025 Date Of Pronouncement : 30.10.2025 आदेश / Order Per Vinay Bhamore, Jm: This Appeal Filed By The Assessee Is Directed Against The Order Dated 19.12.2024 Passed By Ld. Cit(A)/Nfac For The Assessment Year 2017-18. 2. The Appellant Has Raised The Following Grounds Of Appeal :- “1. On Facts & Circumstances Prevailing In The Case & As Per Provisions Of The Act It Be Held That The Penalty Imposed U/S 270A

penalty u/s 271(1)(c) of the Act by observing as under :- “10. It was tried to be suggested that section 14A

DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1), PUNE, PUNE vs. BANK OF MAHARASHTRA, PUNE

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

penalty proceedings under section 271(1)(c) are initiated separately.\"\n\n46. In appeal the Ld. CIT(A) / NFAC restored the matter back to the file of the Assessing Officer by observing as under:\n\n“7.6.1 The appellant in his written submission has furnished that these provisions not available and already added back in the computation of the income

BANK OF MAHARASHTRA ,PUNE vs. ASST COMMISSIONER OF INCOME TAX, CIRCLE 1(1), PUNE, PUNE

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2016-17

14A r.w. Rule 8D - Rs.2,74,04,686 d. Disallowance of write back provision for restructured advance - Rs.260,75,46,000 e. Disallowance of write back provision for standard assets - Rs.31,14,41,362 f. Disallowance of prior period expenses - Rs.1,16,38,539 g. Addition on account of payment of donation Rs.28,08,900 - 3. In appeal

M/S PERSISTENT SYSTEMS LIMITED,PUNE vs. ASSESSMENT UNIT, INCOME-TAX DEPARTMENT, PUNE

In the result, appeal of the Assessee is Partly Allowed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकरअपीलसं. / Ita No.692/Pun/2022 िनधा"रणवष" / Assessment Year : 2018-19 M/S.Persistent Systems Assessment Unit, Income Limited, V Tax Department. “Bhageerath” 402, Senapati S Bapat Road, Pune – 411016. Pan: Aabcp 1209 Q Appellant/ Assessee Respondent /Revenue Assessee By Shri Dhanesh Bafna& Shriaditya Vaidya– Ar’S Revenue By Shri Suhas Kulkarni - Irs Addl Commissioner Of Income Tax Date Of Hearing 26/09/2023 Date Of Pronouncement 02/11/2023 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Directed Against The Assessment Order, Dated 20.07.2022 Under Section 143(3) R.W.S. 144C(13) Read With Section 144B Of The Income Tax Act, 1961 For A.Y.2018-19. The Assessee Has Raised The Following Grounds Of Appeal: “Ground 1: Order Is Invalid / Non Est  On The Facts & In The Circumstances Of The Case & In Law, The Assessment Unit (‘Au’) Has Erred In Passing The Draft Assessment M/S.Persistent Systems Limited [A]

14A of the Act r.w rule 8D(2)(ii) be deleted. Ground 10: Additional relief under section 90 On the facts and circumstances of the case, and in law, the AU based on the directions of Ld. DRP erred in disregarding Appellant’s claim for additional relief under section of 90 of the Act of INR 48,97,620 over

AADHUNIK INFRASTRUCTURE DEVELOPMENT PRIVATE LIMITED,JALGAON vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, JALGAON

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2012-13

penalty order was passed u/s 271(1)(c) of the Act. After considering the contents of the condonation application filed along with affidavit and after hearing the Ld. DR, the delay in filing of the appeal is condoned and the appeal is admitted for adjudication. 4. Facts of the case, in brief, are that the assessee M/s. Adhunik Infrastructure Development

HAMAJA MOHAMMED MALPEKAR,RATNAGIRI vs. INCOME TAX OFFICER, RATNAGIRI WARD, RATNAGIRI

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

14A)(Investment in balance sheet, interest expense in P&L account and exempt income in schedule EI of ITR); (ii) High interest expenditure and low turnover (Part A – P&L of ITR); (iii) Large squared up loans during the year; (iv) Large increase in Sundry creditors and reduction in business income as compared to preceding year (Sundry creditors in Balance