JAIBHAGWAN BANARASIDAS JINDAL,JALNA vs. THE INCOME TAX OFFICER, WARD-1, JALNA

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2016-17

u/s 68 on account of long term capital gain being the sale of shares of M/s Yamini Investment Company Limited declared by the appellant by relying on information received from the DDIT/ADIT(Inv.), 3(3), New Delhi through Insight Portal, which are not relating to the appellant, as name of the appellant not mentioned and appellant is not party

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

147 assessment, and that too, on mere suspicions. It appears, learned AO's action of recording "reasons" of reassessment were totally incorrect. 4. Prayer Assessee submits that appeals preferred by I-T department are incorrect and as such deserve to be dismissed.” 28. He accordingly submitted that the order of the Ld. CIT(A) being in accordance with law should

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

147 assessment, and that too, on mere suspicions. It appears, learned AO's action of recording "reasons" of reassessment were totally incorrect. 4. Prayer Assessee submits that appeals preferred by I-T department are incorrect and as such deserve to be dismissed.” 28. He accordingly submitted that the order of the Ld. CIT(A) being in accordance with law should

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

147 assessment, and that too, on mere suspicions. It appears, learned AO's action of recording "reasons" of reassessment were totally incorrect. 4. Prayer Assessee submits that appeals preferred by I-T department are incorrect and as such deserve to be dismissed.” 28. He accordingly submitted that the order of the Ld. CIT(A) being in accordance with law should

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

147 assessment, and that too, on mere suspicions. It appears, learned AO's action of recording "reasons" of reassessment were totally incorrect. 4. Prayer Assessee submits that appeals preferred by I-T department are incorrect and as such deserve to be dismissed.” 28. He accordingly submitted that the order of the Ld. CIT(A) being in accordance with law should

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

147 assessment, and that too, on mere suspicions. It appears, learned AO's action of recording "reasons" of reassessment were totally incorrect. 4. Prayer Assessee submits that appeals preferred by I-T department are incorrect and as such deserve to be dismissed.” 28. He accordingly submitted that the order of the Ld. CIT(A) being in accordance with law should

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

147 assessment, and that too, on mere suspicions. It appears, learned AO's action of recording "reasons" of reassessment were totally incorrect. 4. Prayer Assessee submits that appeals preferred by I-T department are incorrect and as such deserve to be dismissed.” 28. He accordingly submitted that the order of the Ld. CIT(A) being in accordance with law should

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

147 assessment, and that too, on mere suspicions. It appears, learned AO's action of recording "reasons" of reassessment were totally incorrect. 4. Prayer Assessee submits that appeals preferred by I-T department are incorrect and as such deserve to be dismissed.” 28. He accordingly submitted that the order of the Ld. CIT(A) being in accordance with law should

DEPUTY COMMISSIONER OF INCOME TAX, JALGAON vs. TARADEVI RATANLAL BAFNA, JALGAON

147 are applicable to\nfacts of this case and the assessment year under consideration is deemed to be case where income chargeable\nto tax has escaped assessment.\n\nPlease acknowledge receipt of this letter\n\nBHARAT DEVRAJ SHEGAONKAR\nACIT CEN CIR 2, NASHIK\n\n5. He, therefore, issued notice u/s 148 of the Act on 19.03.2020. The assessee\nin response

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

147 assessment, and that too, on mere suspicions.\nIt appears, learned AO's action of recording \"reasons\" of reassessment\nwere totally incorrect.\n4. Prayer\nAssessee submits that appeals preferred by I-T department are incorrect\nand as such deserve to be dismissed.\"\n28. He accordingly submitted that the order of the Ld. CIT(A) being in\naccordance with law should

ASHOK VIJAYKUMAR KOTECHA,JALGAON vs. ACIT, CIRCLE 1, JALGAON, JALGAON

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2011-12

capital gain claimed as exempt by the assessee u/s 10(38) of the Act as bogus. The Assessing Officer further made addition of Rs.9,15,732/- u/s 69C of the Act being the commission paid in cash for arranging such accommodation entries which has not been recorded in the books of account. Thus, the Assessing Officer determined the total income

POONAWALLA SHARES & SECURITIES PVT.LTD,PUNE vs. ASSISTANT COMMISSIONER OF WEALTH-TAX, CIRCLE-4, PUNE

Appeal is partly allowed in above terms

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपीलसं. / Ita No.380/Pun/2020 िनधा"रण वष" / Assessment Year : 2016-17 Poonawalla Shares & Securities The Assistant Pvt. Ltd., Vs Commissioner Of Income 16-B,/1, Sarosh Bhavan, Tax, Dr.Ambedkar Road, Circle-4, Pune. Pune – 411001 Pan: Aaacp 6087 H Appellant/ Assessee Respondent /Revenue Assessee By Shri Percy Pardiwala – Ar Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 08/07/2022 Date Of Pronouncement 29/07/2022 आदेश/ Order Per S.S.Godara, Jm: This Assessee’S Appeal For Assessment Year 2016-17 Is Directed Against The Commissioner Of Income Tax(Appeals)-3, Pune’S Order Dated 11.12.2019 Passed In Case No.Pn/Cit(A)-3/Cir 4/193/2018-19/428, In Proceedings U/S.143(3) Of The Income Tax Act, 1961 [In Short “The Act”].

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment year beginning on or before the 1st day of April, 2001.]” 5.5 If the provisions of law contained under section 14A and diction of section 14A is perused

DCIT CIRCLE 1 NASHIK, NASHIK vs. SHREE SAI PROPERTIES, NASHIK

In the result, appeal of the Revenue is dismissed

Bench: Dr. Manish Borad & Shri Vinay Bhamore

reassessment under Sections 139, 147, 148, 149, 151 & 153. 28. The language of explanation 2 to new Section 148 is akin to Section 153A and Section 153C Corollary being that after seizing of operational period of Section 153A to 153D. the cases being dealt thereunder were circumscribed in the scope of newly substituted Section 148." We are in complete agreement

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION, KOLHAPUR, KOLHAPUR

In the result, all the appeals filed by the assessee are partly allowed as per terms indicated hereinabove

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1121 To 1126/Pun/2024 Assessment Years : 2012-13 To 2017-18

reassessment is invalid merely because no addition was made on the original reason is devoid of merit. Therefore, this ground of appeal may be rejected.” 11. We have heard the rival contentions and perused the record placed before us and carefully gone through the decisions relied on by both the sides. Through Ground No.1, assessee has raised legal issue challenging

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION, KOLHAPUR

In the result, all the appeals filed by the assessee are partly allowed as per terms indicated hereinabove

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1121 To 1126/Pun/2024 Assessment Years : 2012-13 To 2017-18

reassessment is invalid merely because no addition was made on the original reason is devoid of merit. Therefore, this ground of appeal may be rejected.” 11. We have heard the rival contentions and perused the record placed before us and carefully gone through the decisions relied on by both the sides. Through Ground No.1, assessee has raised legal issue challenging

RAJARSHI SHAHU SHIKSHAN SANSTHA INAM DHAMANI,SANGLI vs. ITO EXEMPTION, KOLHAPUR, KOLHAPUR

In the result, all the appeals filed by the assessee are partly allowed as per terms indicated hereinabove

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1121 To 1126/Pun/2024 Assessment Years : 2012-13 To 2017-18

reassessment is invalid merely because no addition was made on the original reason is devoid of merit. Therefore, this ground of appeal may be rejected.” 11. We have heard the rival contentions and perused the record placed before us and carefully gone through the decisions relied on by both the sides. Through Ground No.1, assessee has raised legal issue challenging

DEPUTY COMMISSIONER OF INCOME TAX, JALGAON vs. TARADEVI RATANLAL BAFNA, JALGAON

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

gains from sale of shares of the penny stock company namely, PFLIL and made addition of Rs.7,68,24,174/- to the total income of the assessee. The Assessing Officer also made the consequential addition on account of commission paid for acquiring the accommodation entries of Rs.23,04,725/- u/s 69C being commission paid @ 3% of such bogus LTCG

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

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

gains from sale of shares of the penny stock company namely, PFLIL and made addition of Rs.7,68,24,174/- to the total income of the assessee. The Assessing Officer also made the consequential addition on account of commission paid for acquiring the accommodation entries of Rs.23,04,725/- u/s 69C being commission paid @ 3% of such bogus LTCG