V E L SOFTWARE LTD.,,NASHIK vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, the appeal of the assessee is dismissed

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhury"नधा"रण वष" / Assessment Year : 2001-02

Section 68 is understood in CIT v. Lovely Exports, 216 CTR 195 to say that the assessee not only

YASH CONSTRUCTION CO.,LATUR vs. ACIT, CIRCLE 1, AURANGABAD, AURANGABAD

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

Bench: Shri Rama Kanta Panda & Shri Satbeer Singh Godara

68, 69, 69A to 69D of the Act. 4.4 The Hon'ble Gujarat High Court in case of Fakir Mohmed Haji Hasan vs. CIT 120 TAXMAN 11 (Gujarat) had to decide question whether value of gold found during search is to be included in income where no explanation about source of investment made is provided. The Hon‟ble High Court

YASH CONSTRUCTION CO. ,NANDED vs. ACIT, CIRCLE , NANDED

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

Bench: Shri Rama Kanta Panda & Shri Satbeer Singh Godara

68, 69, 69A to 69D of the Act. 4.4 The Hon'ble Gujarat High Court in case of Fakir Mohmed Haji Hasan vs. CIT 120 TAXMAN 11 (Gujarat) had to decide question whether value of gold found during search is to be included in income where no explanation about source of investment made is provided. The Hon‟ble High Court

DY.COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, AURANGABAD, AURANGABAD vs. SHRI. BALAJI RAMCHANDRA ANDE, LATUR

In the result, appeal of the Revenue dismissed

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

68, 69, 69A to 69D of the Act: 5.3.1. The Hon'ble Gujrat High Court in case of Fakir Mohmed Haji Hasan vs CIT 120 TAXMAN 11 (Gujarat) had to decide question whether value of gold found during search is to be included in income where no explanation about source of investment made is provided. The Hon'ble High Court

SHARAD SHAMRAO SAWANT ,SANGLI vs. ASSESTANT COMISSIONER OF INCOME TAX CENTRAL CIRCLE KOLHAPUR, KOLHAPUR

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Shri Manish Borad & Ms. Astha Chandra

68, 69, 69A to 69D of the Act: 9.1 The Hon‟ble Gujrat High Court in case of Fakir Mohmed Haji Hasan vs CIT 120 TAXMAN 11 (Gujarat) had to decide question whether value of gold found during search is to be included in income where no explanation about source of investment made is provided. The Hon‟ble High Court

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 68 of the Act. 7. Further, the Assessing Officer held that the accommodation entries regarding sale of shares have been obtained by the assessee after paying certain charges i.e. commission as is the case with all such penny stocks involving accommodation entries in the form of bogus LTCG/STCG. As these charges are not recorded in the books, such

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 68 of the Act. 7. Further, the Assessing Officer held that the accommodation entries regarding sale of shares have been obtained by the assessee after paying certain charges i.e. commission as is the case with all such penny stocks involving accommodation entries in the form of bogus LTCG/STCG. As these charges are not recorded in the books, such

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 68 of the Act. 7. Further, the Assessing Officer held that the accommodation entries regarding sale of shares have been obtained by the assessee after paying certain charges i.e. commission as is the case with all such penny stocks involving accommodation entries in the form of bogus LTCG/STCG. As these charges are not recorded in the books, such

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 68 of the Act. 7. Further, the Assessing Officer held that the accommodation entries regarding sale of shares have been obtained by the assessee after paying certain charges i.e. commission as is the case with all such penny stocks involving accommodation entries in the form of bogus LTCG/STCG. As these charges are not recorded in the books, such

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 68 of the Act. 7. Further, the Assessing Officer held that the accommodation entries regarding sale of shares have been obtained by the assessee after paying certain charges i.e. commission as is the case with all such penny stocks involving accommodation entries in the form of bogus LTCG/STCG. As these charges are not recorded in the books, such

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 68 of the Act. 7. Further, the Assessing Officer held that the accommodation entries regarding sale of shares have been obtained by the assessee after paying certain charges i.e. commission as is the case with all such penny stocks involving accommodation entries in the form of bogus LTCG/STCG. As these charges are not recorded in the books, such

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 68 of the Act. 7. Further, the Assessing Officer held that the accommodation entries regarding sale of shares have been obtained by the assessee after paying certain charges i.e. commission as is the case with all such penny stocks involving accommodation entries in the form of bogus LTCG/STCG. As these charges are not recorded in the books, such

INCOME TAX OFFICER, WARD 1, JALNA, JALNA vs. ASHISH OMPRAKASH MANTRI, JALNA

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

section 68 of the Act. 7. Further, the Assessing Officer held that the accommodation entries regarding sale of shares have been obtained by the assessee after paying certain charges i.e. commission as is the case with all such penny stocks involving accommodation entries in the form of bogus LTCG/STCG. As these charges are not recorded in the books, such

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, AURANGABAD, AURANGABAD vs. ENDURANCE TECHNOLOGIES LIMITED, AURANGABAD

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri R. K. Panda & Ms. Astha Chandrasr No 1

216/[2011] 335 ITR 117 (Del) on similar issue of weighted deduction under section 35(2AB) of the Act held that the condition precedent was the certificate from DSIR, but the date of certificate was not important, where the objective was to encourage research and development by the business enterprises in India. In the facts before

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, AURANGABAD, AURANGABAD vs. ENDURANCE TECHNOLIGIES LIMITED, AURANGABAD

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri R. K. Panda & Ms. Astha Chandrasr No 1

216/[2011] 335 ITR 117 (Del) on similar issue of weighted deduction under section 35(2AB) of the Act held that the condition precedent was the certificate from DSIR, but the date of certificate was not important, where the objective was to encourage research and development by the business enterprises in India. In the facts before

POONAWALLA INVESTMENTS & INDUSTRIES PVT. LTD.,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, both the appeals of the assessee are partly allowed

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am

68,817/- was considered disallowable by the assessee suo moto. Reacting to the said claims of the assessee, the provisions of section 14A of the Act r.w. Rule 8D of the I.T. Rules were invoked by the AO during the assessment proceedings u/s.153C of the Act. Eventually, the AO determined the disallowance at Rs.34,46,681/- vide the discussion

POONAWALLA INVESTMENTS & INDUSTRIES PVT. LTD.,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, both the appeals of the assessee are partly allowed

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am

68,817/- was considered disallowable by the assessee suo moto. Reacting to the said claims of the assessee, the provisions of section 14A of the Act r.w. Rule 8D of the I.T. Rules were invoked by the AO during the assessment proceedings u/s.153C of the Act. Eventually, the AO determined the disallowance at Rs.34,46,681/- vide the discussion

POONAWALLA INVESTMENTS & INDUSTRIES PVT. LTD.,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, both the appeals of the assessee are partly allowed

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am

68,817/- was considered disallowable by the assessee suo moto. Reacting to the said claims of the assessee, the provisions of section 14A of the Act r.w. Rule 8D of the I.T. Rules were invoked by the AO during the assessment proceedings u/s.153C of the Act. Eventually, the AO determined the disallowance at Rs.34,46,681/- vide the discussion