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

section 68 of the Act. However, so far as the issue of assumption of jurisdiction u/s.147 of the Act is concerned, there is no specific finding by ld.CIT(A). 8. Now the assessee is in appeal before this Tribunal raising various issues including the legal issue and claimed that in view of judgment of Hon’ble Apex Court

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

section 68 of the Act. However, so far as the issue of assumption of jurisdiction u/s.147 of the Act is concerned, there is no specific finding by ld.CIT(A). 8. Now the assessee is in appeal before this Tribunal raising various issues including the legal issue and claimed that in view of judgment of Hon’ble Apex Court

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

section 68 of\nthe Act needs to be applied for such escapement of income,\nhowever, while concluding the re-assessment proceedings the\nadditions have not been made u/s.68 of the Act but have been\nmade u/s.115BBC of the Act and therefore there is 'change of\nopinion' and no show cause notice/reasons/revised reasons\nrecorded for initiating the re-assessment proceedings

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

section 68 of\nthe Act needs to be applied for such escapement of income,\nhowever, while concluding the re-assessment proceedings the\nadditions have not been made u/s.68 of the Act but have been\nmade u/s.115BBC of the Act and therefore there is 'change of\nopinion' and no show cause notice/reasons/revised reasons\nrecorded for initiating the re-assessment proceedings

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

section 68 of\nthe Act needs to be applied for such escapement of income,\nhowever, while concluding the re-assessment proceedings the\nadditions have not been made u/s.68 of the Act but have been\nmade u/s.115BBC of the Act and therefore there is 'change of\nopinion' and no show cause notice/reasons/revised reasons\nrecorded for initiating the re-assessment proceedings

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

section 115BBE no deduction is allowed against deemed income added u/s 68 and 69 to 69D. In this case excess stock of Rs.3,11.76,525/- has been added as unexplained investment u/s 69B and hence it will not form part of dosing stock as on 31.1.15 and its benefit will not be available as opening stock

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

section 115BBE no deduction is allowed against deemed income added u/s 68 and 69 to 69D. In this case excess stock of Rs.3,11.76,525/- has been added as unexplained investment u/s 69B and hence it will not form part of dosing stock as on 31.1.15 and its benefit will not be available as opening stock

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

section 115BBE no deduction is allowed against deemed income added u/s 68 and 69 to 69D. In this case excess stock of Rs.3,11.76,525/- has been added as unexplained investment u/s 69B and hence it will not form part of dosing stock as on 31.1.15 and its benefit will not be available as opening stock

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

section 115BBE no deduction is allowed against deemed income added u/s 68 and 69 to 69D. In this case excess stock of Rs.3,11.76,525/- has been added as unexplained investment u/s 69B and hence it will not form part of dosing stock as on 31.1.15 and its benefit will not be available as opening stock

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

section 115BBE no deduction is allowed against deemed income added u/s 68 and 69 to 69D. In this case excess stock of Rs.3,11.76,525/- has been added as unexplained investment u/s 69B and hence it will not form part of dosing stock as on 31.1.15 and its benefit will not be available as opening stock

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

5. The amount of capital loss has been adjusted by the assessee against business income. Assessee is one of the beneficiaries of this arranged Sham Transactions and its claim of dividend income and business loss is required to be disallowed / taxed accordingly as per computation as under: Particulars Amount (in Rs.) Redeemed Value

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

section 68. 5. Additional Ground though raised before CIT(A) not considered Without prejudicial to above, on the facts

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

5) thereto. 9. Before examining the admissibility or otherwise of the additional ground, it is relevant to note that the assessee in its computation of total income under regular provisions determined total income at Nil. It, being a private limited company, was governed by the provisions of section 115JB of the Act. Under the second computation as per this

M/S. CHHEDA ELECTRICALS AND ELECTRONICS PVT.LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 1(1),, PUNE

In the result, both the appeals are dismissed

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

5) thereto. 9. Before examining the admissibility or otherwise of the additional ground, it is relevant to note that the assessee in its computation of total income under regular provisions determined total income at Nil. It, being a private limited company, was governed by the provisions of section 115JB of the Act. Under the second computation as per this

BHADANES HITECH TECHNOLOGY COMPUTER PVT.LTD,,NASHIK vs. INCOME-TAX OFFICER, WARD - 1(1),, NASHIK

Appeal is partly allowed in above terms

Bench: Shri S.S. Godara & Dr. Dipak P. Ripoteनिर्धारण वषा / Assessment Year : 2013-14 Bhadanes Hitech Technology Vs. Ito, Ward Computer Pvt. Ltd. 1(1), Nashik Flat No.10, Padmavishwa Plaza, Nashik Pune Road, Tagore Nagar, Nashik – 422006 Pan : Aadcb9102E Appellant Respondent

section 68 unexplained cash credit addition of Rs.78 lacs representing share capital and share premium. The CIT(A)‟s detailed discussion affirming the assessment findings to this effect reads as under: “6.3 I have considered the facts of the case, the order of the Assessing Officer and the submission of the appellant. The fact discernible from record

SOLAPUR DIST M S K SAMITI H MASTER T AND N T PATH MYDT PANDHARPUR,PANDHARPUR vs. ITO, WARD 2, PANDHARPUR

In the result appeal of the assessee is dismissed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.804/Pun/2023 िनधा"रण वष" / Assessment Year : 2017-18 Solapur Dist M S K Samiti H The Income Tax Officer, Master T & N T Path V Ward-2, Pandharapur. Mydtpandharpur, S 3980, Station Road, Pandharpur. Maharashtra – 413304. Pan: Aanas9890E Appellant/ Assessee Respondent /Revenue Assessee By None Revenue By Shri Sourabh Nayak – Addl.Cit(Dr) Date Of Hearing 15/02/2024 Date Of Pronouncement 08/03/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeals)[Nfac], Passed Under Section 250 Of The Income Tax Act, 1961 Dated 11.05.2023 Emanating From Assessment Order Dated 30.07.2019Passed Under Section 144 R.W.S 144A Of The Income Tax Act, 1961. The Assessee Has Raised The Following Grounds Of Appeal : “1. The Assessee Was In Presumption That Co Operative Societies Income Is Exempt Under 80P Generally Maximum Co Solapur Dist M S K Samiti H Master T & N T Path Mydt Pandharpur [A]

5. …… Section 80P comes under sub-chapter 'C' "Deduction in respect of certain incomes". A claim for such deduction has to be made in the return of income inter alia of the deduction permissible under Section 80P for reason of it being allowed to Co-operative Societies. We also notice a Division Bench decision of this Court

KOTHARI AGRITECH PVT. LTD,,SOLAPUR vs. THE DCIT, CIRCLE-1, SOLAPUR

In the result, the both appeals of the assessee in ITA Nos

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

section 154 of the Act thereby determining the assessed income at Rs. 5,87,62,450/-. Thereafter, the Ld. JAO issued a notice to the assessee proposing to amend the rectification order dated 11.01.2023. He proceeded to pass a fresh rectification order on 03.07.2023 re-determining the assessed income at Rs. 11,68

KOTHARI AGRITECH PRIVATE LIMITED,SOLAPUR vs. DCIT CIRCLE-1, SOLAPUR

In the result, the both appeals of the assessee in ITA Nos

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

section 154 of the Act thereby determining the assessed income at Rs. 5,87,62,450/-. Thereafter, the Ld. JAO issued a notice to the assessee proposing to amend the rectification order dated 11.01.2023. He proceeded to pass a fresh rectification order on 03.07.2023 re-determining the assessed income at Rs. 11,68

SOPAN BANDOBA CHAVAN,PUNE vs. INCOME TAX OFFICER WARD 6(1), PUNE

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2017-18

section 68 5 are not applicable to the cash receipts of Rs. 2 crores. I have considered this argument