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

section 68. The relevant observations of the Hon'ble\nHigh Court read as under:\n\n\"5. We have perused the concurrent findings and on which heavy reliance is\nplaced by Mr.Sureshkumar. While it is true that the Commissioner extensively\nreferred to the correspondence and the contents of the report of the Investigation\ncarried out in paras

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

section 68. The relevant observations of the Hon'ble\nHigh Court read as under:\n\n\"5. We have perused the concurrent findings and on which heavy reliance is\nplaced by Mr.Sureshkumar. While it is true that the Commissioner extensively\nreferred to the correspondence and the contents of the report of the Investigation\ncarried out in paras

DEPUTY COMMISSIONER OF INCOME TAX, JALGAON vs. TARADEVI RATANLAL BAFNA, JALGAON

249 (SC).\n\n36. The various other decisions relied on by the Ld. Counsel for the assessee\nalso support his case to the proposition that where addition based on penny stock\ntransaction had already been considered while making scrutiny assessment under\nsection 143(3), notice for reopening under section 148 for same transaction could\nnot be issued in absence

SAITAWADEKAR JEWELLERS ,CHIPLUN vs. PRINCIPAL COMMISSIONER OF INCOME TAX, PUNE 1, PUNE

The appeal of the assessee is Partly Allowed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकरअपीलसं. / Ita No.870/Pun/2022 िनधा"रणवष" / Assessment Year : 2015-16 Saitawadekarjewellers, The Pr.Cit, Pune-1. 1825, B2 Padma Talkies Bldg, Vs Opp.Urban Bank Bazar Peth, Chiplun – 415605. Pan : - Appellant/Assessee Respondent /Revenue Assessee By Shri Pramod Shingte – Ar Revenue By Shri Sardar Singh Meena,Irs – Dr Date Of Hearing 10/02/2023 Date Of Pronouncement 03/05/2023 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assesseeisdirected Against The Order Of Ld. Principal Commissioner Of Income Tax, Pune-1Dated 22.11.2022Emanating From The Order Of The Assessing Officer Dated 27.11.2017Under Section 143(3) Of The Income Tax Act, 1961 For The A.Y.2015-16. The Assesseehas Raised The Following Grounds Of Appeal: “1. On The Facts & Circumstances Of The Case & In Law The Ld. Pcit In His Order U/S 263, While Giving Effect To The Order Dtd.31.05.2022 Of The Honorable Itat, Erred In Making The Following Additions To The Income Determined Vide Assessment Order Saitawadekar Jewellers [A]

249 ITR 290 (Guj) In view of the law laid down in these cases, the amount of excess stock found during the survey viz. Rs. 30,01,449/- is to be added back in the assessee’s regular income. …..The tax on this amount is to be computed u/s 115BBE of the Income-tax Act, 1961. 6. The assessee

ARUNA SINGH ,THANE vs. ITO WARD 3(1), KALYAN

In the result, the appeal of the assessee is allowed for statistical\npurposes

3(1), Kalyan\nप्रत्यर्थी / Respondent\nAssessee by :\nDepartment by :\nDate of hearing :\nDate of\nPronouncement :\nShri Sharad Vaze & Amod Vaze\nShri Amol Khairnar\n13-01-2025\n11-04-2025\nआदेश / ORDER\nPER ASTHA CHANDRA, JM :\nThe appeal filed by the assessee is directed against the order dated\n06.11.2024 of the Ld. Commissioner of Income Tax (Appeals)/NFAC, Delhi

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

249 (SC).\n36. The various other decisions relied on by the Ld. Counsel for the assessee\nalso support his case to the proposition that where addition based on penny stock\ntransaction had already been considered while making scrutiny assessment under\nsection 143(3), notice for reopening under section 148 for same transaction could\nnot be issued in absence

OLIVE TREE TRADING PVT LTD,PUNE vs. ITO, CIRCLE 2, PUNE, PUNE

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

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

68,005/-. The return was processed u/s 143(1) of the Income Tax Act, 1961 (the “Act”). Subsequently, the case was selected for limited scrutiny under the E- assessment Scheme, 2019 on the following issues :-(i) Default in TDS & Disallowance for such Default; (ii) Investment in Intangible Assets; (iii) Lower amount disallowed u/s 40(a)(ia) in ITR in comparison

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

68 treating such LTCG as bogus was unjustified. 20. Referring to the decision of the Hon’ble Bombay High Court in the case of Chanchal Bhagwatilal Gokhru vs. Union of India (2023) 454 ITR 451 (Bom), he submitted that the Hon’ble High Court in the said decision has held that where addition based on penny stock transaction had already

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

68 treating such LTCG as bogus was unjustified. 20. Referring to the decision of the Hon’ble Bombay High Court in the case of Chanchal Bhagwatilal Gokhru vs. Union of India (2023) 454 ITR 451 (Bom), he submitted that the Hon’ble High Court in the said decision has held that where addition based on penny stock transaction had already

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

68 treating such LTCG as bogus was unjustified. 20. Referring to the decision of the Hon’ble Bombay High Court in the case of Chanchal Bhagwatilal Gokhru vs. Union of India (2023) 454 ITR 451 (Bom), he submitted that the Hon’ble High Court in the said decision has held that where addition based on penny stock transaction had already

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

68 treating such LTCG as bogus was unjustified. 20. Referring to the decision of the Hon’ble Bombay High Court in the case of Chanchal Bhagwatilal Gokhru vs. Union of India (2023) 454 ITR 451 (Bom), he submitted that the Hon’ble High Court in the said decision has held that where addition based on penny stock transaction had already

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

68 treating such LTCG as bogus was unjustified. 20. Referring to the decision of the Hon’ble Bombay High Court in the case of Chanchal Bhagwatilal Gokhru vs. Union of India (2023) 454 ITR 451 (Bom), he submitted that the Hon’ble High Court in the said decision has held that where addition based on penny stock transaction had already

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

68 treating such LTCG as bogus was unjustified. 20. Referring to the decision of the Hon’ble Bombay High Court in the case of Chanchal Bhagwatilal Gokhru vs. Union of India (2023) 454 ITR 451 (Bom), he submitted that the Hon’ble High Court in the said decision has held that where addition based on penny stock transaction had already

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

68 treating such LTCG as bogus was unjustified. 20. Referring to the decision of the Hon’ble Bombay High Court in the case of Chanchal Bhagwatilal Gokhru vs. Union of India (2023) 454 ITR 451 (Bom), he submitted that the Hon’ble High Court in the said decision has held that where addition based on penny stock transaction had already

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 13(3

SERUM INSTITUTE OF INDIA LTD.,,PUNE vs. DEPUTY 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 आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita Nos.549 & 550/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2011-12 & 2012-13 वष"

3. CIT Vs. CTR Manufacturing Industries Ltd. – ITA No.2125 of 2025 (Bombay High Court) 23 Serum Institute of India Ltd., A.Yrs. 2011-12 and 2012-13 In connection with granting of additional depreciation on windmills generation power for captive consumption, despite complying the provisions of section 32(1)(iia) of the Act. Ld. Counsel contends that the generation

SERUM INSTITUTE OF INDIA LTD.,,PUNE vs. DEPUTY 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 आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita Nos.549 & 550/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2011-12 & 2012-13 वष"

3. CIT Vs. CTR Manufacturing Industries Ltd. – ITA No.2125 of 2025 (Bombay High Court) 23 Serum Institute of India Ltd., A.Yrs. 2011-12 and 2012-13 In connection with granting of additional depreciation on windmills generation power for captive consumption, despite complying the provisions of section 32(1)(iia) of the Act. Ld. Counsel contends that the generation

DEPUTY COMMISSIONER OF INCOME-TAX vs. SERUM INSTITUTE OF INDIA LTD.,, PUNE

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

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita Nos.549 & 550/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2011-12 & 2012-13 वष"

3. CIT Vs. CTR Manufacturing Industries Ltd. – ITA No.2125 of 2025 (Bombay High Court) 23 Serum Institute of India Ltd., A.Yrs. 2011-12 and 2012-13 In connection with granting of additional depreciation on windmills generation power for captive consumption, despite complying the provisions of section 32(1)(iia) of the Act. Ld. Counsel contends that the generation

DEPUTY COMMISSIONER OF INCOME-TAX vs. SERUM INSTITUTE OF INDIA LTD.,, PUNE

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

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita Nos.549 & 550/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2011-12 & 2012-13 वष"

3. CIT Vs. CTR Manufacturing Industries Ltd. – ITA No.2125 of 2025 (Bombay High Court) 23 Serum Institute of India Ltd., A.Yrs. 2011-12 and 2012-13 In connection with granting of additional depreciation on windmills generation power for captive consumption, despite complying the provisions of section 32(1)(iia) of the Act. Ld. Counsel contends that the generation