ANANT KESHAV RAJEGAONKAR,NASHIK vs. THE ASSTT. COMMISSIONER OF OF INCOME TAX , CENTRAL CIRCLE - 2, NASHIK, NASHIK

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1249 To 1252/Pun/2024 Assessment Years : 2013-14, 2014-15 & 2015-16

166 pages indicates that whatever documents which the assessee needs to file in order to explain the identity and creditworthiness of the share applicants and genuineness of the transactions have been filed and thereby the primary onus casted upon the assessee by virtue of Section 68

ANANT KESHAV RAJEGAONKAR,NASHIK vs. THE ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 2, NASHIK, NASHIK

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita Nos.1249 To 1252/Pun/2024 Assessment Years : 2013-14, 2014-15 & 2015-16

166 pages indicates that whatever documents which the assessee needs to file in order to explain the identity and creditworthiness of the share applicants and genuineness of the transactions have been filed and thereby the primary onus casted upon the assessee by virtue of Section 68

MEENAMANI GANGA BUILDER LLP ,PUNE vs. PCIT (CENTRAL), PUNE , PUNE

In the result, the appeal of the assessee is dismissed

section 68 of the Act for\nthe preceding years (i.e. AY 2016-17 to AY 2018-19) and that\nmajority of the unsecured loans are flowing from the preceding\nyears wherein no further loan was taken during the year or\nthat closing balance of loan increased due to interest, it can be\nreasonably said that

M/S SUNIL CHETNDAS KATARIYA, HUF,NASHIK vs. PRINCIPAL COMMISSIONER OF INCOME-TAX-1, , NASHIK

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita No.261/Pun/2022 िनधा"रण वष" / Assessment Year : 2011-12 M/S. Sunil Chetandas Vs. Pr.Cit-1, Nashik. Katariya, 649, Sai Villa, Lam Road, Deolali Camp, Nashik- 422401. Pan : Aaths6634R Appellant Respondent Assessee By : Shri Sanket Joshi Revenue By : Shri Ajay Kumar Kesari Date Of Hearing : 10.08.2023 Date Of Pronouncement : 21.08.2023 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld. Pr. Commissioner Of Income Tax-1, Nashik [‘Pcit’] Dated 12.03.2021 For The Assessment Year 2011-12. 2. The Appellant Raised The Following Grounds Of Appeal :- “1. The Learned Pcit Erred In Holding That The Asst. Order Passed U/S 143(3) R.W.S. 147 In The Case Of The Assessee For A.Y.2011 - 12 Was Erroneous & Prejudicial To The Interest Of Revenue & Thereby

166/- in the Savings Bank Account maintained with Axis Bank Ltd., Deolali Camp Branch, Nashik. The assessee submitted that the assessee is into business of buying and selling of lands and properties, the amount deposited in the savings bank account is out of the advance received either in cash or through cheques etc. and the part of deposits were also

ASSISTANT COMMISSIONER OF INCOME-TAX vs. LAXMI CIVIL ENGINEERING SERVICES PVT. LTD.,, KOLHAPUR

In the result, the appeal of assessee is allowed and the appeal of Revenue is partly allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.1176/Pun/2015 यििाारण वषा / Assessment Year : 2008-09

166/- and relief of ₹ 27,94,440/- was given by Assessing Officer as interest on loan and IT refund was shown as income from other sources by assessee on which, no deduction was claimed under section 80IA(4) of the Act. 15. The CIT(A) first decided the issue of entitlement of claim of deduction under section 80IA

LAXMI CIVIL ENGINEERING SERVICES PVT. LTD.,,KOLHAPUR vs. ASSISTANT COMMISISONER OF INCOME-TAX,,

In the result, the appeal of assessee is allowed and the appeal of Revenue is partly allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.1176/Pun/2015 यििाारण वषा / Assessment Year : 2008-09

166/- and relief of ₹ 27,94,440/- was given by Assessing Officer as interest on loan and IT refund was shown as income from other sources by assessee on which, no deduction was claimed under section 80IA(4) of the Act. 15. The CIT(A) first decided the issue of entitlement of claim of deduction under section 80IA

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 6,, PUNE vs. M/S. JANATA SAHAKARI BANK LTD,, PUNE

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

68,900/- and reserve funds stood at Rs.242,39,89,281/- and whereas the investments in mutual funds are made to the tune of Rs.8,50,00,000/- and the investments in shares in cooperative institution at Rs.2,69,84,050/- aggregating to sum of Rs.11,19,85,050/- and whereas exempt income earned is Rs.30,58,185/-. Thus

JANATA SAHAKARI BANK LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 6,, PUNE

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

68,900/- and reserve funds stood at Rs.242,39,89,281/- and whereas the investments in mutual funds are made to the tune of Rs.8,50,00,000/- and the investments in shares in cooperative institution at Rs.2,69,84,050/- aggregating to sum of Rs.11,19,85,050/- and whereas exempt income earned is Rs.30,58,185/-. Thus

JANATA SAHAKARI BANK LIMITED,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 6,, PUNE

In the result, the appeal filed by the Revenue in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

68,900/- and reserve funds stood at Rs.242,39,89,281/- and whereas the investments in mutual funds are made to the tune of Rs.8,50,00,000/- and the investments in shares in cooperative institution at Rs.2,69,84,050/- aggregating to sum of Rs.11,19,85,050/- and whereas exempt income earned is Rs.30,58,185/-. Thus

M/S KIRAN SANRAN ASSOCIATES,PUNE vs. PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL), PUNE, PUNE

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

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2018-19

166 2 1,40,60,000 2 B Wing 12 4,82,48,498 33 17,93,40,212 10 6,32,62,639 6 3,26,55,104 TOTAL 23 9,86,10,565 68 33,85,80,176 14 9,02,79,805 8 4,67,15,104 7. Referring to the above, he submitted that

SETH RAMDAS NATHUBHAI DHARMADAYA VISHWASTA NIDHI,,PUNE vs. INCOME-TAX OFFICER,(EXEMPTIONS) -1,, PUNE

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury"नधा"रण वष" / Assessment Year : 2011-12 Seth Ramdas Nathubhai Dharmadaya Vs. Ito Vishwasta Nidhi, (Exemptions)-1, C/O. Shah Khandelwal Jain & Pune Associates, Chartered Accountants, Level 3, Business Bay, Plot No.84, Wellesley Road, Near Rto, Pune 411 001 Pan : Aaatr6805N Appellant Respondent

68,12,295/- the net income over the expenditure was arrived at Rs.42,98,82,657/-. 4. During the assessment proceedings, the ld. Assessing Officer (AO) had issued a show cause notice to the assessee asking to justify the payment made to trustees, being interested persons in view of the provisions of section

DY. COMMISSIONER OF INCOME TAX, SATARA CIRCLE, SATARA, SATARA vs. SHRI SIDDHANATH NAGARI SAHAKARI PATSANSTHA MARYA DAHIWADI, TAL. MAN SATARA

In the result, the appeal of the Revenue in ITA No

68,141/- from its\ninvestments with Co-operative Banks. In the computation of total income\nsubmitted during course of scrutiny, the assessee claimed that it is a Co-\noperative Society and as such income of Rs.5,15,78,931/- from above-stated\ninterest receipts is deductible under section 80P of the Act. The Ld. AO held\nthat section

DY. COMMISSIONER OF INCOME TAX, SATARA CIRCLE, SATARA, SATARA vs. SHRI SIDDHANATH NAGARI SAHAKARI PATSANSTHA MARYA DAHIWADI, MAN,SATARA

In the result, the appeal of the Revenue in ITA No

68,141/- from its\ninvestments with Co-operative Banks. In the computation of total income\nsubmitted during course of scrutiny, the assessee claimed that it is a Co-\noperative Society and as such income of Rs.5,15,78,931/- from above-stated\ninterest receipts is deductible under section 80P of the Act. The Ld. AO held\nthat section

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

section 43B of the Act. He similarly noted that the assessee had also made payment of Rs.6.40 crores to LIC on account of employees’ gratuity fund from the date of its incorporation till 31.03.2003 whereas the expenses for the year was only Rs.1.10 crores. Thus the assessee has made additional claim of Rs.5.30crores. According to the Assessing Officer since

DEPUTY COMMISSIONER OF INCOME-TAX vs. THE JAWAHARLAL NEHRU PORT TRUST,, RAIGAD

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

section 43B of the Act. He similarly noted that the assessee had also made payment of Rs.6.40 crores to LIC on account of employees’ gratuity fund from the date of its incorporation till 31.03.2003 whereas the expenses for the year was only Rs.1.10 crores. Thus the assessee has made additional claim of Rs.5.30crores. According to the Assessing Officer since

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

section 43B of the Act. He similarly noted that the assessee had also made payment of Rs.6.40 crores to LIC on account of employees’ gratuity fund from the date of its incorporation till 31.03.2003 whereas the expenses for the year was only Rs.1.10 crores. Thus the assessee has made additional claim of Rs.5.30crores. According to the Assessing Officer since

DEPUTY COMMISSIONER OF INCOME-TAX vs. THE JAWAHARLAL NEHRU PORT TRUST,, RAIGAD

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

section 43B of the Act. He similarly noted that the assessee had also made payment of Rs.6.40 crores to LIC on account of employees’ gratuity fund from the date of its incorporation till 31.03.2003 whereas the expenses for the year was only Rs.1.10 crores. Thus the assessee has made additional claim of Rs.5.30crores. According to the Assessing Officer since

DEPUTY COMMISSIONER OF INCOME-TAX vs. THE JAWAHARLAL NEHRU PORT TRUST,, RAIGAD

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

section 43B of the Act. He similarly noted that the assessee had also made payment of Rs.6.40 crores to LIC on account of employees’ gratuity fund from the date of its incorporation till 31.03.2003 whereas the expenses for the year was only Rs.1.10 crores. Thus the assessee has made additional claim of Rs.5.30crores. According to the Assessing Officer since