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

2, where a person receiving such contribution does not maintain a record of the identity indicating the name and address of the person making such contribution and such other particulars as may be prescribed.” 17. On going through the above sections 68 and 115BBC of the Act, we note that section 68 of the Act is invoked when

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

2, where a person receiving such contribution does not maintain a record of the identity indicating the name and address of the person making such contribution and such other particulars as may be prescribed.” 17. On going through the above sections 68 and 115BBC of the Act, we note that section 68 of the Act is invoked when

DCIT, PUNE vs. L B KUNJIR, PUNE

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

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

2) Notwithstanding anything contained in this Act, no deduction in respect of any expenditure or allowance shall be allowed to the assessee under any provision of this Act in computing his income referred to in clause (a) or sub-section (1). As per section 115BBE no deduction is allowed against deemed income added u/s 68

M/S. L.B. KUNJIR,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 7, PUNE, PUNE

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

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

2) Notwithstanding anything contained in this Act, no deduction in respect of any expenditure or allowance shall be allowed to the assessee under any provision of this Act in computing his income referred to in clause (a) or sub-section (1). As per section 115BBE no deduction is allowed against deemed income added u/s 68

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-7, PUNE vs. LB KUNJIR, PUNE

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

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

2) Notwithstanding anything contained in this Act, no deduction in respect of any expenditure or allowance shall be allowed to the assessee under any provision of this Act in computing his income referred to in clause (a) or sub-section (1). As per section 115BBE no deduction is allowed against deemed income added u/s 68

DCIT CIRCLE 7, BODHI TOWER SALISBURY PARK vs. L B KUNJIR, PUNE

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

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

2) Notwithstanding anything contained in this Act, no deduction in respect of any expenditure or allowance shall be allowed to the assessee under any provision of this Act in computing his income referred to in clause (a) or sub-section (1). As per section 115BBE no deduction is allowed against deemed income added u/s 68

M/S. L.B. KUNJIR,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 7, PUNE, PUNE

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

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

2) Notwithstanding anything contained in this Act, no deduction in respect of any expenditure or allowance shall be allowed to the assessee under any provision of this Act in computing his income referred to in clause (a) or sub-section (1). As per section 115BBE no deduction is allowed against deemed income added u/s 68

INCOME-TAX OFFICER vs. SERUM INSTITUTE OF INDIA RESEARCH FOUNDATION,, PUNE

In the result, appeal of the Revenue is dismissed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita No.621/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Year : 2005-06 वष"

section 12AA or not. Therefore, I agree with the learned authorised representative that the amount of Rs. 68,50,000 being in the nature of corpus donation is not taxable under the Income-tax Act being in the nature of capital receipt and therefore, addition of Rs. 68,50,000 made by the Assessing Officer towards the taxable income

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

2, where a person receiving such contribution does\nnot maintain a record of the identity indicating the name and\naddress of the person making such contribution and such other\nparticulars as may be prescribed.”\n17. On going through the above sections 68 and 115BBC of\nthe Act, we note that section 68 of the Act is invoked when

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

2, where a person receiving such contribution does\nnot maintain a record of the identity indicating the name and\naddress of the person making such contribution and such other\nparticulars as may be prescribed.”\n17. On going through the above sections 68 and 115BBC of\nthe Act, we note that section 68 of the Act is invoked when

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

2, where a person receiving such contribution does\nnot maintain a record of the identity indicating the name and\naddress of the person making such contribution and such other\nparticulars as may be prescribed.”\n17. On going through the above sections 68 and 115BBC of\nthe Act, we note that section 68 of the Act is invoked when

M/S GIRIRAJ ENTERPRISES,PUNE vs. DCIT, CENTRAL CIRCLE 1(1), PUNE, PUNE

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

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2015-16

2,06,68,835/- 6 As seen above in table, the assessee has earned business income of Rs.1,06,62,033/- which needs to be brought to the tax accordingly. Hence, the amount of Rs.1,06,62,033/- is hereby added to the total income. Penal proceedings u/s 271(1)(c) of the Act are initiated. [Rs.2,06,68

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

NATHA PANDIT RAUT,PUNE vs. DCIT, CIRCLE 2, PUNE

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2018-19 Natha Pandit Raut Dcit, Circle 2, Pune Office No.101, Global Port Pashankar Auto Complex, Off Mumbai Vs. Bangalore Highway, Baner, Pune - 411045 Pan: Aatpr6854L (Appellant) (Respondent)

2 3. During the course of assessment proceedings the Assessing Officer noted that the case of assessee was selected for scrutiny for the AYs 2011-12 to 2015-16 on recurring issues of (i) LTCG viz., treating the LTCG declared by the assessee as business income, (ii) denial of claim of indexation, (iii) addition u/s 68 and (iv) addition under

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

MANOJ JAIKUMAR TIBREWALA,,NASHIK vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE -1,, NASHIK

Accordingly. We make it clear that the assessee shall be at liberty to file all the relevant details in consequential proceedings. This last appeal ITA No. 609/Pun/2019 is allowed for statistical p...

Bench: Shri S.S. Godara & Dr. Dipak P. Ripoteit(Ss)A Nos. 06 & 07/Pun/2017 (Assessment Years: 2012-13 & 2013-14) Shri Manoj Jaikumar Tibrewala Acit, Central Circle-1 Vastu Shilp, Ground Floor Kendriya Rajaswa Bhavan Godavari Housing Society Vs. Gadkari Chowk Boys Town School Road Old Agra Road, Nashik Nashik 422005 Pan – Aakpt7009G Appellant Respondent Appellant By: Shri Pamod S. Shingte Respondent By: Shri S.P. Walimbe Date Of Hearing: 25.04.2022 Date Of Pronouncement: 10.05.2022

section 2(22)(e) is redundant. It is bound to be for a specific purpose. The question for determination is as to what is the purpose for which this Explanation. has been incorporated when the Hon'ble Supreme Court in the case of Ashokbhai Chimanbhai have held that the profits of business do not accrue from

KALPESH RATILAL GARDHARIA,KOLHAPUR vs. ITO WARD- 2(3), KOLHAPUR

In the result, the grounds on merit are allowed for statistical purposes

Bench: Shri Partha Sarathi Chaudhury

2 ITA 1850 of 2019 Kalpesh R. Gardharia A.Y. 2010-11 4. AO as well as CIT(A), has erred in not considering the claim of assessee that loss arising from Derivative Transactions being normal business loss and hence eligible for set-off against deemed income under section 68. 5

M/S. CHHEDA ELECTRICALS AND ELECTRONICS PVT.LTD,,PUNE vs. INCOME-TAX OFFICER, WARD - 1(3),, PUNE

In the result, both the appeals are dismissed

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

2) of the Act, if the gross total income is more than the aggregate amount of deductions under Chapter VI-A, then such total amount of deductions is reduced from it to find out the total income. If however, the aggregate amount of deductions under this Chapter happens to be more than the gross total income, then such M/s. Chheda