KOLHAPUR TIMBER AND FURNITURE MART,KOLHAPUR vs. ACIT, CENTRAL CIRCLE, KOLHAPUR

In the result, the appeal of assessee is allowed

Bench: SHRI MANISH BORAD (Accountant Member), SHRI S. S. VISWANETHRA RAVI (Judicial Member)

Sections like 69,69A, 69B for Sec.68 applied by Assessing Officer. Appellant prays to cancel the same. 4. CIT(A) is not just and fair in confirming applicability of special rate of Tax u/s 115BВЕ. 5. Appellant denies liability to Interest u/s 234, same may please be cancelled. 6. Appellant prays to cancel the levy of interest charged

LATE HARILAL MAVJIBHAI PATEL,KOLHAPUR vs. ACIT, CENTRAL CIRCLE, KOLHAPUR

In the result, the appeal of assessee is allowed

Bench: Dr.Manish Borad & Ms. Astha Chandraआयकर अपील सं. / Ita No.2698/Pun/2024 Assessment Year : 2019-20

68. Appellant prays to hold that Sec.68 has no application. Appellant prays to cancel the applicability of Sec. 115BBE accepting the same as Business Income to which Normal Tax rate will be applicable. 3 Late Harilal Mavjibhai Patel 2. CIT(A) has erred in not following the Jurisdictional Pune ITAT decision on the identical issue brought his Notice. Appellant prays

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 1, AURANGABAD, AURANGABAD vs. M/S PARTHA MULTITRADE INDIA PVT LTD, MUMBAI

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita Nos.682 To 685/Pun/2022 िनधा"रण वष" / Assessment Years : 2009-10 To 2011-12 & 2013-14 Dcit, Central Circle-1, Vs. M/S. Partha Multitrade Aurangabad. India Pvt. Ltd. (Earlier Known As Swift Ventures Pvt. Ltd.), Flat No.1/5, A. S. Yadav Chawl Pada, Nr. Mahakali Mandir, Dahisar, Mumbai-400068. Pan : Aalcs3668L Appellant Respondent Revenue By : Shri Ajay Kumar Kesari Assessee By : None Date Of Hearing : 12.10.2023 Date Of Pronouncement : 30.11.2023 आदेश / Order Per Inturi Rama Rao, Am: These Are The Appeals Filed By The Revenue Directed Against The Common Order Of Ld. Commissioner Of Income Tax (Appeals)-12, Pune [‘The Cit(A)’] Dated 30.06.2022 For The Assessment Years 2009-10 To 2011-12 & 2013-14 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In All The Above Captioned Four Appeals Of The Revenue, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal Of The Revenue In Ita No.685/Pun/2022 For The Assessment Year 2013-14 Are Stated Herein.

section 68 of the Act. In the circumstances, the ld. CIT(A) had upheld the action of the Assessing Officer in bringing to tax the amount of money found to consideration of investments received from the said five companies. However, the ld. CIT(A) had fell in serious error in holding that the Assessing Officer made addition on protective

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, AURANGABAD, AURANGABAD vs. M/S PARTHA MULTITRADE INDIA PVT LTD (EARLIER KNOWN AS SWIFT VENTURES PVT LTD), MUMBAI

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita Nos.682 To 685/Pun/2022 िनधा"रण वष" / Assessment Years : 2009-10 To 2011-12 & 2013-14 Dcit, Central Circle-1, Vs. M/S. Partha Multitrade Aurangabad. India Pvt. Ltd. (Earlier Known As Swift Ventures Pvt. Ltd.), Flat No.1/5, A. S. Yadav Chawl Pada, Nr. Mahakali Mandir, Dahisar, Mumbai-400068. Pan : Aalcs3668L Appellant Respondent Revenue By : Shri Ajay Kumar Kesari Assessee By : None Date Of Hearing : 12.10.2023 Date Of Pronouncement : 30.11.2023 आदेश / Order Per Inturi Rama Rao, Am: These Are The Appeals Filed By The Revenue Directed Against The Common Order Of Ld. Commissioner Of Income Tax (Appeals)-12, Pune [‘The Cit(A)’] Dated 30.06.2022 For The Assessment Years 2009-10 To 2011-12 & 2013-14 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In All The Above Captioned Four Appeals Of The Revenue, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal Of The Revenue In Ita No.685/Pun/2022 For The Assessment Year 2013-14 Are Stated Herein.

section 68 of the Act. In the circumstances, the ld. CIT(A) had upheld the action of the Assessing Officer in bringing to tax the amount of money found to consideration of investments received from the said five companies. However, the ld. CIT(A) had fell in serious error in holding that the Assessing Officer made addition on protective

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, AURANGABAD, AURANGABAD vs. M/S PARTHA MULTRITRADE INDIA PVT LTD (EARLIER KNOWN AS SWIFT VENTURES PVT LTD., MUMBAI

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita Nos.682 To 685/Pun/2022 िनधा"रण वष" / Assessment Years : 2009-10 To 2011-12 & 2013-14 Dcit, Central Circle-1, Vs. M/S. Partha Multitrade Aurangabad. India Pvt. Ltd. (Earlier Known As Swift Ventures Pvt. Ltd.), Flat No.1/5, A. S. Yadav Chawl Pada, Nr. Mahakali Mandir, Dahisar, Mumbai-400068. Pan : Aalcs3668L Appellant Respondent Revenue By : Shri Ajay Kumar Kesari Assessee By : None Date Of Hearing : 12.10.2023 Date Of Pronouncement : 30.11.2023 आदेश / Order Per Inturi Rama Rao, Am: These Are The Appeals Filed By The Revenue Directed Against The Common Order Of Ld. Commissioner Of Income Tax (Appeals)-12, Pune [‘The Cit(A)’] Dated 30.06.2022 For The Assessment Years 2009-10 To 2011-12 & 2013-14 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In All The Above Captioned Four Appeals Of The Revenue, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal Of The Revenue In Ita No.685/Pun/2022 For The Assessment Year 2013-14 Are Stated Herein.

section 68 of the Act. In the circumstances, the ld. CIT(A) had upheld the action of the Assessing Officer in bringing to tax the amount of money found to consideration of investments received from the said five companies. However, the ld. CIT(A) had fell in serious error in holding that the Assessing Officer made addition on protective

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 1, , AURANGABAD vs. M/S PARTHA MULTITRADE INDIA PVT LTD, MUMBAI

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita Nos.682 To 685/Pun/2022 िनधा"रण वष" / Assessment Years : 2009-10 To 2011-12 & 2013-14 Dcit, Central Circle-1, Vs. M/S. Partha Multitrade Aurangabad. India Pvt. Ltd. (Earlier Known As Swift Ventures Pvt. Ltd.), Flat No.1/5, A. S. Yadav Chawl Pada, Nr. Mahakali Mandir, Dahisar, Mumbai-400068. Pan : Aalcs3668L Appellant Respondent Revenue By : Shri Ajay Kumar Kesari Assessee By : None Date Of Hearing : 12.10.2023 Date Of Pronouncement : 30.11.2023 आदेश / Order Per Inturi Rama Rao, Am: These Are The Appeals Filed By The Revenue Directed Against The Common Order Of Ld. Commissioner Of Income Tax (Appeals)-12, Pune [‘The Cit(A)’] Dated 30.06.2022 For The Assessment Years 2009-10 To 2011-12 & 2013-14 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In All The Above Captioned Four Appeals Of The Revenue, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal Of The Revenue In Ita No.685/Pun/2022 For The Assessment Year 2013-14 Are Stated Herein.

section 68 of the Act. In the circumstances, the ld. CIT(A) had upheld the action of the Assessing Officer in bringing to tax the amount of money found to consideration of investments received from the said five companies. However, the ld. CIT(A) had fell in serious error in holding that the Assessing Officer made addition on protective

DCIT, CIRCLE- 5, PUNE vs. SHRI AMEETSINGH A RAJPAL, PUNE

Appeals are dismissed in above terms

234, 235, 323/2015-16/3 involving proceedings u/s 143(3) r.w.s. 147 of the Income-tax Act, 1961, in short “the Act”, respectively. Both parties heard. Case files perused. 2. It transpires at the very outset that the Revenue’s identical twin substantive grounds in all the three cases seek to revise section 68

DCIT, CIRCLE- 5, PUNE vs. SHRI AMEETSINGH A RAJPAL, PUNE

Appeals are dismissed in above terms

234, 235, 323/2015-16/3 involving proceedings u/s 143(3) r.w.s. 147 of the Income-tax Act, 1961, in short “the Act”, respectively. Both parties heard. Case files perused. 2. It transpires at the very outset that the Revenue’s identical twin substantive grounds in all the three cases seek to revise section 68

DCIT, CIRCLE- 5, PUNE vs. SHRI AMEETSINGH A RAJPAL, PUNE

Appeals are dismissed in above terms

234, 235, 323/2015-16/3 involving proceedings u/s 143(3) r.w.s. 147 of the Income-tax Act, 1961, in short “the Act”, respectively. Both parties heard. Case files perused. 2. It transpires at the very outset that the Revenue’s identical twin substantive grounds in all the three cases seek to revise section 68

INCOME-TAX OFFICER,, JALGAON vs. PRAMOD BHAICHAND RAISONI,, JALGAON

In the result, both the appeals are dismissed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Ravi

234 ITR 104 (Mad.) holding that : “A cooperative society which undertakes the business of banking, such as, lending money to its members or accepting deposits or raising loans from financial and banking institutions and advancing the same to its members is definitely engaged in the business of banking.” He also referred to another decision of Hon’ble Madras High Court

INCOME-TAX OFFICER,, JALGAON vs. PRAMOD BHAICHAND RAISONI,, JALGAON

In the result, both the appeals are dismissed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Ravi

234 ITR 104 (Mad.) holding that : “A cooperative society which undertakes the business of banking, such as, lending money to its members or accepting deposits or raising loans from financial and banking institutions and advancing the same to its members is definitely engaged in the business of banking.” He also referred to another decision of Hon’ble Madras High Court

SAMEER SHRIKANT PISE,PUNE vs. DCIT CIRCLE 12, PUNE

In the result, appeal of the assessee is partly allowed for

Bench: Dr. Manish Borad & Shri Vinay Bhamore

68,870/- and as against the tax liability of Rs. 8,91,631/- claimed TDS of Rs. 19,02,270/-. In the income tax return in schedule-FA, the assessee has declared salary income received from the employer in UK. However, when the return was processed u/s. 143(1)(a) of the Act, the income earned in UK, which

ASHOK VIJAYKUMAR KOTECHA,,JALGAON vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

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

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

section 68 does not apply. e) No sum is credited or no proof is found by the Assessing Officer of payment of Rs. 10,00,000/- and made the addition only on the basis of document impounded which is nothing but a dumb document. 4) In the facts and circumstances of the case and in law, the learned Assessing

ASHOK VIJAYKUMAR KOTECHA,,JALGAON vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

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

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

section 68 does not apply. e) No sum is credited or no proof is found by the Assessing Officer of payment of Rs. 10,00,000/- and made the addition only on the basis of document impounded which is nothing but a dumb document. 4) In the facts and circumstances of the case and in law, the learned Assessing

ASHOK VIJAYKUMAR KOTECHA,,JALGAON vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

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

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

section 68 does not apply. e) No sum is credited or no proof is found by the Assessing Officer of payment of Rs. 10,00,000/- and made the addition only on the basis of document impounded which is nothing but a dumb document. 4) In the facts and circumstances of the case and in law, the learned Assessing

M/S. TATA TECHNOLOGIES LTD.,,PUNE vs. DEPUTY DIRECTOR OF INCOME-TAX,,

In the result, appeal of assessee is partly allowed

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.1433/Pun/2014 यििाारण वषा / Assessment Year : 2007-08 M/S. Tata Technologies Limited, Plot No.25, Rajiv Gandhi Infotech Park, अऩीऱाथी/Appellant Hingewadi, Pune – 411057 …. Pan: Aaact3092N Vs. The Dy. Director Of Income Tax …. प्रत्यथी / Respondent (International Taxation)-Ii, Pune

234 CTR 153 (SC), wherein it has been held that the words “chargeable under the provisions of the Act’ used in section 195(1) of the Act clearly indicate that the payments made to Non-resident should partake the character of income chargeable to tax, in order to trigger withholding of tax. The assessee claimed that similar proposition

SHARP DESIGNERS AND ENGINEERS INDIA P. LTD.,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

In the result, both the appeals of the Revenue are dismissed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकरअपीलसं. / Ita No.2263/Pun/2014 आयकरअपीलसं आयकरअपीलसं आयकरअपीलसं िनधा"रणवष" िनधा"रणवष"/ Assessment Year : 2010-11 िनधा"रणवष" िनधा"रणवष"

234 (Amrtisar). Appellant's reliance on the decision of Yash Developers V. ITO - ITA No. 809/MUM/2011 was held as misplaced by observing that 4th proviso to section 139(1) was introduced from AY 2006-07 while the decision of Mumbai ITAT related to AY 1972-73. Various other issues were also involved in the appeal before the Ld.CIT

INCOME-TAX OFFICER vs. SHARP DESIGNER AND ENGINEERS (INDIA) PVT. LTD.,, PUNE

In the result, both the appeals of the Revenue are dismissed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकरअपीलसं. / Ita No.2263/Pun/2014 आयकरअपीलसं आयकरअपीलसं आयकरअपीलसं िनधा"रणवष" िनधा"रणवष"/ Assessment Year : 2010-11 िनधा"रणवष" िनधा"रणवष"

234 (Amrtisar). Appellant's reliance on the decision of Yash Developers V. ITO - ITA No. 809/MUM/2011 was held as misplaced by observing that 4th proviso to section 139(1) was introduced from AY 2006-07 while the decision of Mumbai ITAT related to AY 1972-73. Various other issues were also involved in the appeal before the Ld.CIT