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

house property, profit from the firm as also capital gain. It is this scrutiny assessment the respondent desired to reopen for which impugned notice within the period of 4 years from the end of relevant assessment year came to be issued. The petitioner was supplied the reasons recorded by the assessing officer for issuing such notice with reasons read

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

house property, profit from the firm as also capital gain. It is this scrutiny assessment the respondent desired to reopen for which impugned notice within the period of 4 years from the end of relevant assessment year came to be issued. The petitioner was supplied the reasons recorded by the assessing officer for issuing such notice with reasons read

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

house property, profit from the firm as also capital\ngain. It is this scrutiny assessment the respondent desired to reopen\nfor which impugned notice within the period of 4 years from the end\nof relevant assessment year came to be issued. The petitioner was\nsupplied the reasons recorded by the assessing officer for issuing\nsuch notice with reasons read

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

house property, profit from the firm as also capital\ngain. It is this scrutiny assessment the respondent desired to reopen\nfor which impugned notice within the period of 4 years from the end\nof relevant assessment year came to be issued. The petitioner was\nsupplied the reasons recorded by the assessing officer for issuing\nsuch notice with reasons read

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

house property, profit from the firm as also capital\ngain. It is this scrutiny assessment the respondent desired to reopen\nfor which impugned notice within the period of 4 years from the end\nof relevant assessment year came to be issued. The petitioner was\nsupplied the reasons recorded by the assessing officer for issuing\nsuch notice with reasons read

MICHELLE Y. POONAWALLA,PUNE vs. DCIT, CIRCLE-7, PUNE, PUNE

In the result, the appeals of the assessee for both the AYs 2013-14

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

house property has to be the owner of the building or land appurtenant thereto and not merely the holder of an interest therein. If that is the explicit meaning given to the word "property" in section 22, any other meaning to the same word appearing in section 24(b) cannot be ascribed. What is referred to in this section

MICHELLE Y. POONAWALLA,PUNE vs. DCIT-CIR-7, PUNE , PUNE

In the result, the appeals of the assessee for both the AYs 2013-14

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

house property has to be the owner of the building or land appurtenant thereto and not merely the holder of an interest therein. If that is the explicit meaning given to the word "property" in section 22, any other meaning to the same word appearing in section 24(b) cannot be ascribed. What is referred to in this section

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

68 of the Act. The tribunal while dismissing the appeals filed\nby the Revenue also observed on facts that these shares were purchased by\nrespondent on the floor of Stock Exchange and not from the said broker, deliveries\nwere taken, contract notes were issued and shares were also sold on the floor of\nStock Exchange. The ITAT therefore

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

68 of the Act. The tribunal while dismissing the appeals filed\nby the Revenue also observed on facts that these shares were purchased by\nrespondent on the floor of Stock Exchange and not from the said broker, deliveries\nwere taken, contract notes were issued and shares were also sold on the floor of\nStock Exchange. The ITAT therefore

M/S. GREAT FORTUNE INVESTMENTS AND INFRASTRUCTURE PVT.LTD,,NASHIK vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 1,, NASHIK

The appeal of the assessee is allowed

Bench: Shri S.S.Viswanethra Ravi, Hon’Ble Jm & Dr. Dipak P. Ripote, Hon’Ble Am आयकरअपीलसं. / Ita No.2325/Pun/2017 निर्ाारण वषा / Assessment Year : 2014-15 Great Fortune Investments & The Assistant Commissioner Of Infrastructure Pvt. Ltd., Vs Income Tax, Shop No.6, Rushiraj Heights, Near Cirlce-1, Nashik. Nmc Water Tank, Parijat Nagar, Mahatma Nagar, Nahik. Pan: Aaccg 6406 F Appellant/ Assessee Respondent /Revenue Assessee By Shri Sanket M Joshi – Ar Revenue By Shri S.P.Walimbe - Dr Date Of Hearing 10/02/2022 Date Of Pronouncement 08/04/2022

house property. However, it is the decision of the co-ordinate Bench in the case of Makrupa Chemicals (P) Ltd. (2007) 108 ITD 95/12 SOT 68 (Mum) that the standard rent is the upper limit for determining the annual value. The above synopsis goes well with the decisions of the Apex Court in the case of Dewan Daulat Rai Kapoor

NILESH POPATLAL GADA,PUNE vs. INCOME TAX OFFICER WARD 2(4) , PUNE

In the result, appeal of the assessee is Partly Allowed

Bench: DR.DIPAK P. RIPOTE (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)

house property, short term capital gain, income from other sources and agricultural 5 income. The Assessing Officer(AO) in the assessment order observed that assessee had deposited cash in the bank account between 11.11.2016 to 01.12.2016 as under: Date Name of Bank Account Amount(Rs.) 10-11-2016 Corporation Bank 2,00,000/- 11-11-2016 Corporation Bank

ALNESH AKIL SOMJI,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX, PUNE

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

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

property and decide the issue as per fact and law. We hold and direct accordingly. The first issue raised by the assessee is accordingly allowed for statistical purposes. 13. The second issue raised by the assessee in the grounds of appeal relates to the order of the Ld. CIT(A) in confirming the disallowance of interest of Rs.1

ALNESH MOHAMADAKIL SOMJI,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX, PUNE

property and decide the issue\nas per fact and law. We hold and direct accordingly. The first issue raised by the\nassessee is accordingly allowed for statistical purposes.\n13.\nThe second issue raised by the assessee in the grounds of appeal relates to\nthe order of the Ld. CIT(A) in confirming the disallowance of interest of\nRs.1

VINAYAK HANUMANTRAO GHORPADE,PUNE vs. INCOME TAX OFFICER, PUNE

In the result, appeal in ITA No

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपऩल सं. / Ita Nos.1438 & 1439/Pun/2024 निर्धारण वषा / Assessment Years: 2019-20 & 2020-21 Vinayak Hanumantrao V Vaishnavi Satish Bankar, Ghorpade, S. Pune. F.No.7, Plot No.60/61, S.No.165/1B, Shivanjali, Near Central Circle-1(3), Pune. Mahadev Temple, Indira Nagar, Pune – 411033. Pan: Afdpg6919A Appellant/ Assessee Respondent / Revenue Assessee By Shri Pramod S Shingte Revenue By Shri Aviyogi Ambadkar –Addl.Cit Date Of Hearing 11/09/2025 Date Of Pronouncement 08/12/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: These Two Appeals Filed By The Assessee Are Against The Common Order Of Ld.Commissioner Of Income Tax(Appeal), Pune-11 Passed Under Section 250 Of The Income Tax Act, 1961 For A.Y.2019-20 & 2020-21, Both Dated 02.05.2024 Emanating From Separate Assessment Order U/S.153A R.W.S 144 Of The I.T.Act, Both Dated 23.09.2021.For The Sake Of Convenience, These Two Appeals

property for which the said loan was taken is also not mentioned. As per the provisions of the Act, deduction for repayment of principal amount of home loan can be allowed as deduction, only if the loan is taken for acquiring a house. In this case, the appellant has neither filed the copy of loan sanction letter nor any certificate

VINAYAK HANUMANTRAO GHORPADE,PUNE vs. VAISHNAVI SATISH BANKAR, PUNE

In the result, appeal in ITA No

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपऩल सं. / Ita Nos.1438 & 1439/Pun/2024 निर्धारण वषा / Assessment Years: 2019-20 & 2020-21 Vinayak Hanumantrao V Vaishnavi Satish Bankar, Ghorpade, S. Pune. F.No.7, Plot No.60/61, S.No.165/1B, Shivanjali, Near Central Circle-1(3), Pune. Mahadev Temple, Indira Nagar, Pune – 411033. Pan: Afdpg6919A Appellant/ Assessee Respondent / Revenue Assessee By Shri Pramod S Shingte Revenue By Shri Aviyogi Ambadkar –Addl.Cit Date Of Hearing 11/09/2025 Date Of Pronouncement 08/12/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: These Two Appeals Filed By The Assessee Are Against The Common Order Of Ld.Commissioner Of Income Tax(Appeal), Pune-11 Passed Under Section 250 Of The Income Tax Act, 1961 For A.Y.2019-20 & 2020-21, Both Dated 02.05.2024 Emanating From Separate Assessment Order U/S.153A R.W.S 144 Of The I.T.Act, Both Dated 23.09.2021.For The Sake Of Convenience, These Two Appeals

property for which the said loan was taken is also not mentioned. As per the provisions of the Act, deduction for repayment of principal amount of home loan can be allowed as deduction, only if the loan is taken for acquiring a house. In this case, the appellant has neither filed the copy of loan sanction letter nor any certificate

MICHELLE Y. POONAWALLA,PUNE vs. DCIT, CIRCLE-7, PUNE

In the result, appeal of the Assessee is dismissed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपीलसं. / Ita No.75/Pun/2020 िनधा"रण वष" / Assessment Year : 2014-15 Michelle Yohan Poonawalla, The Dy.Cit, Circle-7, Pune. 16/B-1, Sarosh Bhavan, 2Nd Vs Floor, Dr.Ambedkar Road, . Opp.Niv, Pune – 411001. Pan: Aanpv 5236 G Appellant/ Assessee Respondent /Revenue Assessee By Shri Bharat Patel – Ar Revenue By Shri S P Walime & Shir Arvind Desai – Dr Date Of Hearing 24/06/2022 Date Of Pronouncement 28/07/2022 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Is Directed Against The Order Of Ld.Commissioner Of Income Tax(Appeals)-8, Pune Dated 31.12.2019For The A.Y.2014-15.The Assessee Has Raised The Following Grounds Of Appeal: “The Following Grounds Are Taken Without Prejudice To Each Other - On Facts & Circumstances Of The Case & In Law, 1] The Learned Cit(A) Failed To Appreciate The Fact That - A. In Order To Arrive At Actual Rent As Defined U/Sec.23(1)(D) In Case Of Let Out Property, Expenditure Incurred For Earning Such Rent Shall Be Deducted At Threshold Level Itself. B. Principles Of Real Income Are Ignored While Denying Deduction Of Interest Paid By Appellant For Acquiring Possession Of Property (I.E. Flat No.11, Breach Candy Garden, Mumbai) From Statutory Tenant. 2] The Learned Cit(A) Failed To Appreciate That Payment Of

68,50,000/-to the statutory tenant of Flat No.11. Before ITA No.75/PUN/2020 for A.Y. 2014-15 Michelle Y. Poonawalla Vs. DCIT (A) discussing further the section 24 as applicable for the A.Y. 2014-15 is reproduced here as under: Section 24 of the Act is reproduced here as under : 24. Income chargeable under the head “Income from house property

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE - 1(1),, PUNE vs. BALKRISHNAN SHANMUGHAM CHETTIAR, ALIAS S. BALAN,, PUNE

Appeals are dismissed in above terms

Bench: Shri S.S.Godara & Shri Inturi Rama Raoआयकर अपीलसं. / Ita No’S.110, 111 & 112/Pun/2021 िनधा"रणवष" / Assessment Years : 2015-16, 2016-17 & 2017-18 The Asst. Commissioner Of M/S.Balkrishna Shanmugham Income Tax, Central Circle- Vs Chettiar Alias S. Balan, 1(1), Pune. . 1133/5, Nirankar F.C.Road, Shivaji Nagar, Pune – 411016. Pan: Aalpc 5158 J Appellant/ Assessee Respondent /Revenue Assessee By Shri M R Bhagwat – Ar Revenue By Shr Ramnath P Murkunde – Dr Date Of Hearing 08/09/2022 Date Of Pronouncement 16/11/2022 आदेश/ Order Per S.S.Godara, Jm: These Revenue’S Three Appeals For Ays 2015-16 To 2017-18 Arise Against The Commissioner Of Income Tax(Appeal)-11, Pune’S Separate Orders; All Dated 20.01.2021, Passed In Case Nos.Itba/Apl/S/250/2020-21/1029928824(1), Itba/Apl/S/ 250/2020-21/1029929977(1) & Itba/Apl/S/250/2020- 21/1029930177(1); Respectively, In Proceedings U/S.250 Of The Income Tax Act, 1961 [In Short “The Act”].

section. Accordingly, Assessing Officer is justified on facts and in law in denying the deduction claimed u/s 80IA(4)(iii) by the appellant and the disallowance of rs.4,24,27,370/- made by the Assessing- Officer on this ground is upheld.. Ground of. appeal no.3 raised by the appellant fails.” xiii. The above position taken

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE - 1(1),, PUNE vs. BALKRISHNAN SHANMUGHAM CHETTIAR, ALIAS S. BALAN,, PUNE

Appeals are dismissed in above terms

Bench: Shri S.S.Godara & Shri Inturi Rama Raoआयकर अपीलसं. / Ita No’S.110, 111 & 112/Pun/2021 िनधा"रणवष" / Assessment Years : 2015-16, 2016-17 & 2017-18 The Asst. Commissioner Of M/S.Balkrishna Shanmugham Income Tax, Central Circle- Vs Chettiar Alias S. Balan, 1(1), Pune. . 1133/5, Nirankar F.C.Road, Shivaji Nagar, Pune – 411016. Pan: Aalpc 5158 J Appellant/ Assessee Respondent /Revenue Assessee By Shri M R Bhagwat – Ar Revenue By Shr Ramnath P Murkunde – Dr Date Of Hearing 08/09/2022 Date Of Pronouncement 16/11/2022 आदेश/ Order Per S.S.Godara, Jm: These Revenue’S Three Appeals For Ays 2015-16 To 2017-18 Arise Against The Commissioner Of Income Tax(Appeal)-11, Pune’S Separate Orders; All Dated 20.01.2021, Passed In Case Nos.Itba/Apl/S/250/2020-21/1029928824(1), Itba/Apl/S/ 250/2020-21/1029929977(1) & Itba/Apl/S/250/2020- 21/1029930177(1); Respectively, In Proceedings U/S.250 Of The Income Tax Act, 1961 [In Short “The Act”].

section. Accordingly, Assessing Officer is justified on facts and in law in denying the deduction claimed u/s 80IA(4)(iii) by the appellant and the disallowance of rs.4,24,27,370/- made by the Assessing- Officer on this ground is upheld.. Ground of. appeal no.3 raised by the appellant fails.” xiii. The above position taken

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE - 1(1),, PUNE vs. BALKRISHNAN SHANMUGHAM CHETTIAR, ALIAS S. BALAN,, PUNE

Appeals are dismissed in above terms

Bench: Shri S.S.Godara & Shri Inturi Rama Raoआयकर अपीलसं. / Ita No’S.110, 111 & 112/Pun/2021 िनधा"रणवष" / Assessment Years : 2015-16, 2016-17 & 2017-18 The Asst. Commissioner Of M/S.Balkrishna Shanmugham Income Tax, Central Circle- Vs Chettiar Alias S. Balan, 1(1), Pune. . 1133/5, Nirankar F.C.Road, Shivaji Nagar, Pune – 411016. Pan: Aalpc 5158 J Appellant/ Assessee Respondent /Revenue Assessee By Shri M R Bhagwat – Ar Revenue By Shr Ramnath P Murkunde – Dr Date Of Hearing 08/09/2022 Date Of Pronouncement 16/11/2022 आदेश/ Order Per S.S.Godara, Jm: These Revenue’S Three Appeals For Ays 2015-16 To 2017-18 Arise Against The Commissioner Of Income Tax(Appeal)-11, Pune’S Separate Orders; All Dated 20.01.2021, Passed In Case Nos.Itba/Apl/S/250/2020-21/1029928824(1), Itba/Apl/S/ 250/2020-21/1029929977(1) & Itba/Apl/S/250/2020- 21/1029930177(1); Respectively, In Proceedings U/S.250 Of The Income Tax Act, 1961 [In Short “The Act”].

section. Accordingly, Assessing Officer is justified on facts and in law in denying the deduction claimed u/s 80IA(4)(iii) by the appellant and the disallowance of rs.4,24,27,370/- made by the Assessing- Officer on this ground is upheld.. Ground of. appeal no.3 raised by the appellant fails.” xiii. The above position taken