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

unexplained cash credit u/s 68 of the ITA, 1961. 11. Final assessment u/s 115BBC-As against the firm belief till 29/11/2019, the learned AO, vide 147 order dated 24/12/2019, has taxed the donations of Rs. 1.39 CR as 'Anonymous donations' u/s 115BBC of the ITA, 1961. Ground of Appeal No. 1 & 2 12. Conention-1-Substantial difference between

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

unexplained cash credit u/s 68 of the ITA, 1961. 11. Final assessment u/s 115BBC-As against the firm belief till 29/11/2019, the learned AO, vide 147 order dated 24/12/2019, has taxed the donations of Rs. 1.39 CR as 'Anonymous donations' u/s 115BBC of the ITA, 1961. Ground of Appeal No. 1 & 2 12. Conention-1-Substantial difference between

SATISH VISHNU THOMBARE, INCOME TAX OFFICER, WARD-1, AHMEDNAGAR, AHMEDNAGAR vs. VARSHA PRAFULLA ZENDE, AHMEDNAGAR

In the result, the appeal of the Revenue is dismissed

Bench: Shri R.K. Panda & Ms. Astha Chandraआयकर अपील सं. / Ita No.1656/Pun/2024 धििाारण वर्ा / Assessment Year : 2010-11 Satish Vishnu Thombare, Varsha Prafulla Zende, Income Tax Officer, Prop Of Bleach Chem Enterprises, Ward-1, Ahmednagar Vs. Industrial Estate, Shrirampur, Maharashtra-413709 Pan : Aabpz2541C अपीलार्थी / Appellant प्रत्यर्थी / Respondent Assessee By : Miss Shivani Shah (Virtual) Department By : Shri Akhilesh Srivastva Date Of Hearing : 06-08-2025 Date Of 29-10-2025 Pronouncement : आदेश / Order

147 by issue of notice u/s 148 of the Act. However, perusal of the assessment order reveals that the Ld. AO has made an addition u/s 68 of the Act amounting to Rs.2,58,67,123/- towards loan and interest on loan as unexplained cash credit which is completely a new issue that was not referred to in the reason

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

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

unexplained cash credit u/s 68 of the ITA, 1961.\n11. Final assessment_u/s_115BBC-As against the firm belief till\n29/11/2019, the learned AO, vide 147 order dated 24/12/2019,\nhas taxed the donations of Rs.1.39 CR as 'Anonymous donations'\nu/s 115BBC of the ITA, 1961.\nGround of Appeal No. 1 & 2\n12. Conention-1-Substantial difference between S. 68 ν. S. 115BBC

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

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

unexplained cash credit u/s 68 of the ITA, 1961.\n11. Final assessment_u/s_115BBC-As against the firm belief till\n29/11/2019, the learned AO, vide 147 order dated 24/12/2019,\nhas taxed the donations of Rs.1.39 CR as 'Anonymous donations'\nu/s 115BBC of the ITA, 1961.\nGround of Appeal No. 1 & 2\n12. Conention-1-Substantial difference between S. 68 ν. S. 115BBC

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

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

unexplained cash credit u/s 68 of the ITA, 1961.\n11. Final assessment_u/s_115BBC-As against the firm belief till\n29/11/2019, the learned AO, vide 147 order dated 24/12/2019,\nhas taxed the donations of Rs.1.39 CR as 'Anonymous donations'\nu/s 115BBC of the ITA, 1961.\nGround of Appeal No. 1 & 2\n12. Conention-1-Substantial difference between S. 68 ν. S. 115BBC

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

unexplained sources u/s 68 of the Act, 1961. Accordingly, an amount\nof Rs.2,79,78,912/- is added back to the total income of the assessee. Penalty u/s\n271(1)(c) of Income-tax Act, 1961 initiated separately for concealment of\nincome.\"\n5.\nThe assessee filed an appeal before CIT(A) on 11.02.2020. In the meantime,\nthe Ld. PCIT examined

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

unexplained sources u/s 68 of the Act, 1961. Accordingly, an amount\nof Rs.2,79,78,912/- is added back to the total income of the assessee. Penalty u/s\n271(1)(c) of Income-tax Act, 1961 initiated separately for concealment of\nincome.\"\n5.\nThe assessee filed an appeal before CIT(A) on 11.02.2020. In the meantime,\nthe Ld. PCIT examined

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

cash credits in the books which stands unexplained to the extent of Rs.50,00,000/- and thus the corresponding loan received from Cambridge financials of Rs. 50,00,000/- in bank accounts stands unexplained. 9.8 In the cases where assessee has received loan from entities but the genuineness and creditworthiness were neither explained nor such money offered for taxation

SOMNATH RAMDAS JADHAV,AHMEDNAGAR vs. ITO WARD2, AHMEDNAGAR

Accordingly, the appeal in ITA No.1092/PUN/2025 for A.Y. 2013-14 involving the issue of penalty u/s 271(1)(c) of the Act is allowed

Bench: Shri Manish Borad & Shri Vinay Bhamore

unexplained money. 5. Aggrieved with the above assessment order, an appeal was filed before Ld. CIT(A)/NFCA. In appeal, the CIT(A)/NFAC upheld the action of the Assessing Officer by observing as under:- “4. During the course of appeal proceedings, hearing notice was sent on 07.10.2024 wherein the appellant was asked to submit copies of the bank account

SOMNATH RAMDAS JADHAV,AHMEDNAGAR vs. ITO WARD 2, AHMEDNAGAR

Accordingly, the appeal in ITA No.1092/PUN/2025 for A.Y. 2013-14 involving the issue of penalty u/s 271(1)(c) of the Act is allowed

Bench: Shri Manish Borad & Shri Vinay Bhamore

unexplained money. 5. Aggrieved with the above assessment order, an appeal was filed before Ld. CIT(A)/NFCA. In appeal, the CIT(A)/NFAC upheld the action of the Assessing Officer by observing as under:- “4. During the course of appeal proceedings, hearing notice was sent on 07.10.2024 wherein the appellant was asked to submit copies of the bank account

SOMNATH RAMDAS JADHAV,AHMEDNAGAR vs. ITO, WARD 2, AHMEDNAGAR, AHMEDNAGAR

Accordingly, the appeal in ITA No.1092/PUN/2025 for A.Y. 2013-14 involving the issue of penalty u/s 271(1)(c) of the Act is allowed

Bench: Shri Manish Borad & Shri Vinay Bhamore

unexplained money. 5. Aggrieved with the above assessment order, an appeal was filed before Ld. CIT(A)/NFCA. In appeal, the CIT(A)/NFAC upheld the action of the Assessing Officer by observing as under:- “4. During the course of appeal proceedings, hearing notice was sent on 07.10.2024 wherein the appellant was asked to submit copies of the bank account

SOMNATH RAMDAS JADHAV,AHMEDNAGAR vs. ITO, WARD 2, AHMEDNAGAR, AHMEDNAGAR

Accordingly, the appeal in ITA No.1092/PUN/2025 for A.Y. 2013-14 involving the issue of penalty u/s 271(1)(c) of the Act is allowed

Bench: Shri Manish Borad & Shri Vinay Bhamore

unexplained money. 5. Aggrieved with the above assessment order, an appeal was filed before Ld. CIT(A)/NFCA. In appeal, the CIT(A)/NFAC upheld the action of the Assessing Officer by observing as under:- “4. During the course of appeal proceedings, hearing notice was sent on 07.10.2024 wherein the appellant was asked to submit copies of the bank account

A.C.I.T ,WARDHA CIRCLE , WARDHA , WARDHA vs. M/S KAPIL SOLVEX PVT .LTD , YAVATMAL

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

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2009-10

unexplained cash credits u/s 68 of the Act. An addition of Rs.4,55,00,000/- is therefore made to the income of the assessee. [Addition: Rs. 4,55,00,000/-] 6. Before the CIT(A) the assessee, apart from challenging the addition on merit, challenged the validity of reopening of the assessment on the ground that the reasons for reopening

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

unexplained cash loans availed from various parties through Sh. Sachin M. Nahar. All these grounds of appeal are taken up together for adjudication. An analysis of letter No.Pn/DCIT. Cen. Cir.1(1)/Sharing of Info./2020-21 dated 05.03.202 of ACIT, Central Circle 1(1), Pune and reasons recorded show that the appellant has taken loans amounting to Rs.6

SOMNATH RAMDAS JADHAV,AHMEDNAGAR vs. ITO WARD 2, AHMEDNAGAR, AHMEDNAGAR

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

unexplained money.\n5. Aggrieved with the above assessment order, an appeal was\nfiled before Ld. CIT(A)/NFCA. In appeal, the CIT(A)/NFAC\nupheld the action of the Assessing Officer by observing as under:-\n“4. During the course of appeal proceedings, hearing notice was\nsent on 07.10.2024 wherein the appellant was asked to submit copies of\nthe bank

SOMNATH RAMDAS JADHAV,AHMEDNAGAR vs. ITO WARD 2, AHMEDNAGAR

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

unexplained money.\n5. Aggrieved with the above assessment order, an appeal was\nfiled before Ld. CIT(A)/NFCA. In appeal, the CIT(A)/NFAC\nupheld the action of the Assessing Officer by observing as under:-\n“4. During the course of appeal proceedings, hearing notice was\nsent on 07.10.2024 wherein the appellant was asked to submit copies of\nthe bank

NAVJYOTI FARMING PRIVATE LIMITED,BELAPUR vs. ITO, WARD -3 , PANVEL

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2012-13

unexplained cash credit u/s 68 of the Act by treating the same as, alleged, sham transactions aimed only to bring unaccounted money in the guise of accommodation entries. 6. The Ld. Counsel for the assessee at the outset referring to pages 94 and 95 of the paper book submitted that the original assessment for the impugned assessment year

RATHOD JEWELLERS,PUNE vs. ACIT, CENTRAL CIRCLE -2(3), PUNE

In the result, appeal of the assessee is dismissed

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

reassessment proceedings as well as the addition of Rs. 10,00,000/-made by the Ld. AO u/s 68 of the Act as unexplained cash credit. Before the Ld. CIT(A), the assessee filed its detailed response via on-line submission on ITBA system. The ground wise submissions of the assessee are reproduced in Para