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.

loss to the assessee. Accordingly, in view of the Assessing Officer, the discount/concession is being given out of the profits earned by the cooperative society. So the expenses allowable u/s 40A(2)(a) of the IT Act. The case of Revenue in this regard was that this is the appropriation of profits and accordingly the Assessing Officer made addition

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.

loss to the assessee. Accordingly, in view of the Assessing Officer, the discount/concession is being given out of the profits earned by the cooperative society. So the expenses allowable u/s 40A(2)(a) of the IT Act. The case of Revenue in this regard was that this is the appropriation of profits and accordingly the Assessing Officer made addition

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.

loss to the assessee. Accordingly, in view of the Assessing Officer, the discount/concession is being given out of the profits earned by the cooperative society. So the expenses allowable u/s 40A(2)(a) of the IT Act. The case of Revenue in this regard was that this is the appropriation of profits and accordingly the Assessing Officer made addition

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.

loss to the assessee. Accordingly, in view of the Assessing Officer, the discount/concession is being given out of the profits earned by the cooperative society. So the expenses allowable u/s 40A(2)(a) of the IT Act. The case of Revenue in this regard was that this is the appropriation of profits and accordingly the Assessing Officer made addition

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.

loss to the assessee. Accordingly, in view of the Assessing Officer, the discount/concession is being given out of the profits earned by the cooperative society. So the expenses allowable u/s 40A(2)(a) of the IT Act. The case of Revenue in this regard was that this is the appropriation of profits and accordingly the Assessing Officer made addition

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), PUNE, PUNE vs. GIRIRAJ ENTERPRISES, PUNE

In the result, the appeal filed by the assessee is allowed and the appeal filed by the Revenue is dismissed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2021-22

set of facts, no penalty was levied for A.Y. 2020-21 by the learned A.O. and therefore, the assessee submits that for this year also there was no reason to levy the penalty since the facts were identical for both the years. 9] The appellant craves leave to add, alter, amend or delete any of the above grounds of appeal

M/S GIRIRAJ ENTERPRISES,PUNE vs. DCIT, CC.1(1), PUNE, PUNE

In the result, the appeal filed by the assessee is allowed and the appeal filed by the Revenue is dismissed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2021-22

set of facts, no penalty was levied for A.Y. 2020-21 by the learned A.O. and therefore, the assessee submits that for this year also there was no reason to levy the penalty since the facts were identical for both the years. 9] The appellant craves leave to add, alter, amend or delete any of the above grounds of appeal

ROHINI MARUTI 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

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

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

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

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

Loss Account (b) payments to respective sub-contractors were made through banking channel, hence they were genuine in nature. The respondent assessee however expressed its inability to produce full details including copies of sub-contracts and confirmation from the respective sub-contractors which could have effectively testified the veracity & genuineness of sub-contracting & its expenditure. We further found that

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

Loss Account (b) payments to respective sub-contractors were made through banking channel, hence they were genuine in nature. The respondent assessee however expressed its inability to produce full details including copies of sub-contracts and confirmation from the respective sub-contractors which could have effectively testified the veracity & genuineness of sub-contracting & its expenditure. We further found that

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

Loss Account (b) payments to respective sub-contractors were made through banking channel, hence they were genuine in nature. The respondent assessee however expressed its inability to produce full details including copies of sub-contracts and confirmation from the respective sub-contractors which could have effectively testified the veracity & genuineness of sub-contracting & its expenditure. We further found that

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\nNo

penalty u/s 271(1)(c) of Rs.68,32,010/-\nwithout appreciating the facts of the case, and the fact that all\nthe material facts regarding the issue of sale of sugar at\nconcessional rate to members, are part of the record before Ld.\nAO, and the issue of allowability is highly debatable issue, in\nview of the same your appellant

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\nNo

penalty u/s 271(1)(c) of Rs.68,32,010/-\nwithout appreciating the facts of the case, and the fact that all\nthe material facts regarding the issue of sale of sugar at\nconcessional rate to members, are part of the record before Ld.\nAO, and the issue of allowability is highly debatable issue, in\nview of the same your appellant

DCIT CIRCLE 7, BODHI TOWER SALISBURY PARK vs. L B KUNJIR, PUNE

In the result, the two appeals filed by the assessee are allowed and the three appeals filed by Revenue are dismissed

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

Penalty proceedings are initiated separately u/s 271(1)( c) of the IT Act, 1961 for concealment of income. 5.7 In respect of income of assessed u/s 68/69/69A/69B/69C/69D of the I.T Act 1961 it has now been established by law that tax on such income should be charged at rate of 30% over and above regular income of assessee

DCIT, PUNE vs. L B KUNJIR, PUNE

In the result, the two appeals filed by the assessee are allowed and the three appeals filed by Revenue are dismissed

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

Penalty proceedings are initiated separately u/s 271(1)( c) of the IT Act, 1961 for concealment of income. 5.7 In respect of income of assessed u/s 68/69/69A/69B/69C/69D of the I.T Act 1961 it has now been established by law that tax on such income should be charged at rate of 30% over and above regular income of assessee

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-7, PUNE vs. LB KUNJIR, PUNE

In the result, the two appeals filed by the assessee are allowed and the three appeals filed by Revenue are dismissed

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

Penalty proceedings are initiated separately u/s 271(1)( c) of the IT Act, 1961 for concealment of income. 5.7 In respect of income of assessed u/s 68/69/69A/69B/69C/69D of the I.T Act 1961 it has now been established by law that tax on such income should be charged at rate of 30% over and above regular income of assessee

M/S. L.B. KUNJIR,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 7, PUNE, PUNE

In the result, the two appeals filed by the assessee are allowed and the three appeals filed by Revenue are dismissed

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

Penalty proceedings are initiated separately u/s 271(1)( c) of the IT Act, 1961 for concealment of income. 5.7 In respect of income of assessed u/s 68/69/69A/69B/69C/69D of the I.T Act 1961 it has now been established by law that tax on such income should be charged at rate of 30% over and above regular income of assessee