INCOME TAX OFFICER, PUNE vs. SAGAR CONSTRUCTION COMPANY, PUNE

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2017-18

10. Aggrieved with such order of the Ld. CIT(A) / NFAC the Revenue is in appeal before the Tribunal by raising the following grounds: 1. Whether on the facts and circumstances of the case and in law, the Hon'ble CIT(A) was justified in deleting the addition of Rs.1,61,00,000/- made on account of unsecured loan u/s

SHRI MANOJ MADANLAL CHHAJED,PUNE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), PUNE

147 of the Act had not made the addition of\nRs.7,62,67,463/- which was returned back to these shell companies. Since the\n8\nITA No.1178/PUN/2023\nITA No.2017/PUN/2024\nassessee in his statement recorded /s 132(4) of the Act at the time of search u/s 132\nhad admitted to the fact that he had taken accommodation entries from

MANOJ MADANLAL CHHAJED,PUNE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), PUNE

147 of the Act had not made the addition of\nRs.7,62,67,463/- which was returned back to these shell companies. Since the\n8\nITA No.1178/PUN/2023\nITA No.2017/PUN/2024\nassessee in his statement recorded /s 132(4) of the Act at the time of search u/s 132\nhad admitted to the fact that he had taken accommodation entries from

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

section 10(38) and made additions, alleging involvement in penny stock which were being misused for providing bogus accommodation of LTCG, however, there was lack of adverse comments from stock exchange and officials of company involved in these transactions and no material relating to assessee was found in investigation wing report, additions made by AO had rightly been deleted

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

section 10(38) and made additions, alleging involvement in penny stock which were being misused for providing bogus accommodation of LTCG, however, there was lack of adverse comments from stock exchange and officials of company involved in these transactions and no material relating to assessee was found in investigation wing report, additions made by AO had rightly been deleted

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

section 10(38) and made additions, alleging involvement in penny stock which were being misused for providing bogus accommodation of LTCG, however, there was lack of adverse comments from stock exchange and officials of company involved in these transactions and no material relating to assessee was found in investigation wing report, additions made by AO had rightly been deleted

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

section 10(38) and made additions, alleging involvement in penny stock which were being misused for providing bogus accommodation of LTCG, however, there was lack of adverse comments from stock exchange and officials of company involved in these transactions and no material relating to assessee was found in investigation wing report, additions made by AO had rightly been deleted

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

section 10(38) and made additions, alleging involvement in penny stock which were being misused for providing bogus accommodation of LTCG, however, there was lack of adverse comments from stock exchange and officials of company involved in these transactions and no material relating to assessee was found in investigation wing report, additions made by AO had rightly been deleted

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

section 10(38) and made additions, alleging involvement in penny stock which were being misused for providing bogus accommodation of LTCG, however, there was lack of adverse comments from stock exchange and officials of company involved in these transactions and no material relating to assessee was found in investigation wing report, additions made by AO had rightly been deleted

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

section 10(38) and made additions, alleging involvement in penny stock which were being misused for providing bogus accommodation of LTCG, however, there was lack of adverse comments from stock exchange and officials of company involved in these transactions and no material relating to assessee was found in investigation wing report, additions made by AO had rightly been deleted

INCOME TAX OFFICER,WARD-1,AHMEDNAGAR, AHMEDNAGAR vs. NARENDRA SAMPATLAL BAFNA, AHMEDNAGAR

In the result, the appeal filed by the Revenue and the CO filed by the assessee are dismissed

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2017-18

10. The Ld. DR strongly challenged the order of CIT(A) / NFAC in holding that the provisions of section 153C of the Act are applicable and not u/s 147. He submitted that when no material pertaining to or belonging to the assessee was found in the search at the premises of Shri Nahar, the reopening of the assessment was valid

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

26 donors to whom notices U/s 133(6) were issued by the ITO (I & CI) Kolhapur. In these replied the claimed donors denied having made as donations to the assessee trust. The assessee could not provide any answer to the above query. No satisfactory explanation was given by the assessee. 06. The evidences collected during the course of survey action

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

26 donors to whom notices U/s 133(6) were issued by the ITO (I & CI) Kolhapur. In these replied the claimed donors denied having made as donations to the assessee trust. The assessee could not provide any answer to the above query. No satisfactory explanation was given by the assessee. 06. The evidences collected during the course of survey action

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

26 donors to whom notices U/s 133(6) were issued by the ITO (I & CI) Kolhapur. In these replied the claimed donors denied having made as donations to the assessee trust. The assessee could not provide any answer to the above query. No satisfactory explanation was given by the assessee. 06. The evidences collected during the course of survey action

CLARION TECHNOLOGIES PVT. LTD.,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, the appeal of assessee is allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Ravi

10. The ld. AR also placed on record decision of Hon‟ble High Court of Delhi in the case of Prabhat Agarwal and submitted that the AO in the present case passed order on 30-03-2015 by incorporating the directions of CIT dated 31-03-2015 u/s. 144A of the Act and argued that the AO passed order

DEPUTY COMMISSIONER OF INCOME-TAX vs. CLARION TECHNOLOGIES PVT. LTD.,, PUNE

In the result, the appeal of assessee is allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Ravi

10. The ld. AR also placed on record decision of Hon‟ble High Court of Delhi in the case of Prabhat Agarwal and submitted that the AO in the present case passed order on 30-03-2015 by incorporating the directions of CIT dated 31-03-2015 u/s. 144A of the Act and argued that the AO passed order

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 147 has to be quashed. 16. Referring to the decision of the Hon’ble Bombay High Court in the case of PCIT v. Shodiman Investments (P) Ltd, 93 taxmann.com 153, he submitted that the Hon’ble High Court in the said decision has held that where Assessing Officer had issued a reassessment notice on the basis of intimation from

JAWAHAR LAL NEHRU PORT TRUST,NAVI MUMBAI vs. ACIT PANVEL, PANVEL

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

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

26. Referring to the decision of the Hon'ble Bombay High Court in the case of CIT vs. Agricultural Produce and Market Committee reported in [2007] 163 TAXMAN 359 (BOM.), he submitted that the Hon’ble Bombay High Court has observed that to avail benefits u/s 11 and 12 of the Act, not only trusts/institutions must be registered under u/s

JAWAHAR LAL NEHRU PORT TRUST,NAVI MUMBAI vs. ACIT PANVEL, PANVEL

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

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

26. Referring to the decision of the Hon'ble Bombay High Court in the case of CIT vs. Agricultural Produce and Market Committee reported in [2007] 163 TAXMAN 359 (BOM.), he submitted that the Hon’ble Bombay High Court has observed that to avail benefits u/s 11 and 12 of the Act, not only trusts/institutions must be registered under u/s