AMOL 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

36(1)(iii), only the amount of interest paid in respect of capital borrowed for the purposes of the business or profession could have been claimed and it was clear that the interest in the present case was not in respect of the capital borrowed. Our attention was also invited to section 14A of the Act, which provides that

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

iii) Income from salary Rs.39,20,00,000/- 31. So far as the addition on account of rental income is concerned, we find the major portion of the same is relating to the notional income from house property which was lying vacant. In our opinion, although the addition can be made on account of notional income from the house property

VINOD RAMCHANDRA JADHAV,PUNE vs. DCIT, CC-2(1), PUNE, 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

iii) Income from salary Rs.39,20,00,000/- 31. So far as the addition on account of rental income is concerned, we find the major portion of the same is relating to the notional income from house property which was lying vacant. In our opinion, although the addition can be made on account of notional income from the house property

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 7 PUNE, PUNE vs. KOLTE PATIL INTEGRATED TOWNSHIPS LIMITED, PUNE

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

Penalty proceeding under section 271[1][c] of the Income Tax Act 1961\nfor concealment of income is initiated separately.\nDisallowance of interest u/s 36 of the I.T. Act of Rs.15,11,87,548/-" 6.\nBefore the Ld. CIT(A) / NFAC the assessee apart from challenging the\naddition on merit challenged the validity of reopening of the assessment

MR. CHITTARANJAN TRIMBAK GAIKWAD,PUNE vs. THE ASST. COMMISSIONER OF INCOME TAX, CIRCLE-4, PUNE, PUNE

In the result, the appeal of the assessee is allowed

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

36 before the Hon'ble ITAT in support of the claim of the appellant that in view of the facts of the appellant's case as the income voluntarily declared in the Revised return of income had been accepted by the Assessing Officer and assessed as such in the assessment order, no penalty in assessee's u/s 271(1

CAPGEMINI TECHNOLOGY SERVICES INDIA LIMITED ( SUCCESSOR OF ARICENT TECHNOLOGIES HOLDINGS LIMITED),PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1(1), PUNE, PUNE

In the result, the appeal of the assessee is allowed

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

iii) special surcharge and (iv) additional surcharge calculated in the manner provided in the Schedule. Read in this way the additional charges form a part of the income tax and super tax‖ 21. The Hon‘ble Supreme Court, therefore, has decided the issue in favour of the revenue and held that surcharge and additional surcharge are part of the income

INCOME-TAX OFFICER, WARD - 3,, ICHALKARANJI vs. SHRI. DANWADE KUTUBUDDIN SHAHABUDIN,, KOLHAPUR

In the result, the appeal of Revenue is dismissed

Bench: Shri S.S. Viswanethra Ravi & Shri G.D. Padmahshali

III is the financial year in which the proceedings, in the course of which action for the imposition of penalty has been initiated, are completed, or six months from the end of the month in which action for imposition of penalty is initiated, whichever period expires later. In the last category filing of appeal in respect of order passed

DY COMMISSIONER OF INCOME TAX, KARAD SATARA vs. THE KARAD JANATA SAHAKARI BANK LTD, KARAD SATARA

In the result, the appeal of the Revenue is dismissed

Bench: Shri R. K. Panda & Shri Vinay Bhamore

section 143(3) proceedings the AO disallowed excess expenditure of Rs 2,08,09,305/- claimed u/s 36(i)(viia) of the IT Act for which provision was not made in the books of account . The disallowance of expenditure was confirmed by CIT(A) as well as by this Tribunal . On the basis of this disallowance the then AO proceeded

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, AURANGABAD, AURANGABAD vs. SHREEHARI ASSOCIATES PVT LTD, AURANGABAD

The appeals of the REVENUE are ALLOWED

Bench: Hon’Ble Shri G. D. Padmahshali & Hon’Ble Shri Vinay Bhamore

penalty [from now ‘PO’] passed u/s 271(1)(c) & 271AAB of the Act by the Dy. Commission of Income Tax, Central Circle-1, Aurangabad [from now ‘Ld. AO’] anent to assessment years 2013-14, 2014-15 & 2019-20 [from now ‘AYs’] respectively. ITAT-Pune Page 1 of 16 DCIT Vs Shreehari Associates Pvt. Ltd. ITA No. 407 to 408 & 410/PUN/2024

DY.COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, AURANGABAD, AURANGABAD. vs. SHREEHARI ASSOCIATES PRIVATE LIMITED, AURANGABAD

The appeals of the REVENUE are ALLOWED

Bench: Hon’Ble Shri G. D. Padmahshali & Hon’Ble Shri Vinay Bhamore

penalty [from now ‘PO’] passed u/s 271(1)(c) & 271AAB of the Act by the Dy. Commission of Income Tax, Central Circle-1, Aurangabad [from now ‘Ld. AO’] anent to assessment years 2013-14, 2014-15 & 2019-20 [from now ‘AYs’] respectively. ITAT-Pune Page 1 of 16 DCIT Vs Shreehari Associates Pvt. Ltd. ITA No. 407 to 408 & 410/PUN/2024

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, AURANAGBAD., AURANGABAD. vs. SHREEHARI ASSOCIATES PVT LTD, AURANGABAD.

The appeals of the REVENUE are ALLOWED

Bench: Hon’Ble Shri G. D. Padmahshali & Hon’Ble Shri Vinay Bhamore

penalty [from now ‘PO’] passed u/s 271(1)(c) & 271AAB of the Act by the Dy. Commission of Income Tax, Central Circle-1, Aurangabad [from now ‘Ld. AO’] anent to assessment years 2013-14, 2014-15 & 2019-20 [from now ‘AYs’] respectively. ITAT-Pune Page 1 of 16 DCIT Vs Shreehari Associates Pvt. Ltd. ITA No. 407 to 408 & 410/PUN/2024

ASSISTANT COMMISSIONER OF INCOME TAX, KOLHPAUR vs. RBL BANK LTD, KOLHAPUR

In the result, the appeal of the Revenue is dismissed

Bench: SATBEER SINGH GODARA, JUDICIAL MEMBER, AND DR.DIPAK P. RIPOTE (Accountant Member)

section 271(l)(c) of the Act requires the Ld. AO to record is satisfaction before imposition of penalty, the AO could not have imposed penalty merely because the assessee has not filed any response. The CIT(A) has held the order imposing penalty to be bad in law on this count too. The assessee submits that there

SANTOSH ASHOKRAO BARHANPURKAR,NASHIK vs. INCOME TAX OFFICER WARD 2(1), NASHIK

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

Bench: SHRI MANISH BORAD (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)

36,000/- on the ground that the assesse had concealment of income without appreciating that the said levy of penalty was not justified in law. 2. The learned Commissioner of Income Tax failed to appreciate that before the Commissioner of Income Tax, the assesse had duly explained that concealment of income in his case was attributable to wrong action

VIJAY TUKARAM RAUNDAL,PUNE vs. THE DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1(2), PUNE

In the result, the appeals filed by the assessee are allowed for statistical purposes

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

iii) of section 80IB(10)(a) provides that the construction should be completed within five years from the end of the financial year in which the housing project is approved by the local authority The stipulated period of five years has connection only with the granting of approval by the local authority and not when the construction is actually commenced

VIJAY TUKARAM RAUNDAL,PUNE vs. THE DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1(2), PUNE

In the result, the appeals filed by the assessee are allowed for statistical purposes

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

iii) of section 80IB(10)(a) provides that the construction should be completed within five years from the end of the financial year in which the housing project is approved by the local authority The stipulated period of five years has connection only with the granting of approval by the local authority and not when the construction is actually commenced

VIJAY TUKARAM RAUNDAL,PUNE vs. THE DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1(2), PUNE

In the result, the appeals filed by the assessee are allowed for statistical purposes

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

iii) of section 80IB(10)(a) provides that the construction should be completed within five years from the end of the financial year in which the housing project is approved by the local authority The stipulated period of five years has connection only with the granting of approval by the local authority and not when the construction is actually commenced

VIJAY TUKARAM RAUNDAL,PUNE vs. THE DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1(2), PUNE

In the result, the appeals filed by the assessee are allowed for statistical purposes

271(1)(c) of the Act for furnishing inaccurate particulars of\nincome, therefore, under these circumstances, we do not find any merit in the\narguments of the Ld. Counsel for the assessee that the penalty proceedings are not\nin accordance with law on account of non-striking off of the inappropriate words in\nthe first notice. The various decisions relied

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7 PUNE, PUNE vs. KOLTE PATIL INTEGRATED TOWNSHIPS LIMITED, PUNE

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

Penalty proceeding under section 271[1][c] of the Income Tax Act 1961\nfor concealment of income is initiated separately.\nDisallowance of interest u/s 36 of the I.T. Act of Rs.15,11,87,548/-\"\n6.\nBefore the Ld. CIT(A) / NFAC the assessee apart from challenging the\naddition on merit challenged the validity of reopening of the assessment