HARISHCHANDRA NIVRUTI BARURE,,LATUR vs. INCOME-TAX OFFICER, WARD - 3,, LATUR

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

Bench: Shri D. Karunakara Rao, Am आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita No.1724/Pun/2017 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Year : 2012-13 वष"

section 56(2)(viii) of the Act, the aim, scope and object of the income chargeable to tax under the head “income from other sources” is clearly mentioned. The words are clear and unambiguous and if there is nothing in the Act detracting from the width of the said terms, it is clear that, the interest received on enhanced

RAMCHANDRA NIVRUTI BARURE,,LATUR vs. INCOME-TAX OFFICER, WARD - 3,, LATUR

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

Bench: Shri D. Karunakara Rao, Am आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita No.1724/Pun/2017 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Year : 2012-13 वष"

section 56(2)(viii) of the Act, the aim, scope and object of the income chargeable to tax under the head “income from other sources” is clearly mentioned. The words are clear and unambiguous and if there is nothing in the Act detracting from the width of the said terms, it is clear that, the interest received on enhanced

SANJAY NIVRUTI BARURE,,LATUR vs. INCOME-TAX OFFICER, WARD - 3,, LATUR

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

Bench: Shri D. Karunakara Rao, Am आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita No.1724/Pun/2017 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Year : 2012-13 वष"

section 56(2)(viii) of the Act, the aim, scope and object of the income chargeable to tax under the head “income from other sources” is clearly mentioned. The words are clear and unambiguous and if there is nothing in the Act detracting from the width of the said terms, it is clear that, the interest received on enhanced

DEPUTY COMMISSIONER OF INCOME-TAX CIRCLE -5, PUNE vs. SERUM INSTITUTE OF INDIA PVT LTD.,, PUNE

In the result, the appeal filed by the Revenue stands dismissed

viii) As regards, the disallowance of donation of Rs.5,50,000/- u/s 37(1), the ld. CIT(A) confirmed the disallowance of donation of Rs.5,50,000/- made to Sakal Social Foundation. (ix) With regard to claim for allowance of depreciation on windmill of Rs.56,11,914/-, the ld. CIT(A) held that civil construction and electrical work were undertaken

JYOTI JAYANTRAO INDURKAR,,LATUR vs. INCOME TAX OFFICER,, LATUR

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

Bench: Ms. Sushma Chowla, Jm

68,423/- and the same is tabulated at page 4 of the assessment order. However, in the computation of income, the assessee had not offered the interest of Rs.70,37,907/- for taxation under section 56(2)(viii

NASHIK DISTRICT PRIMARY TEACHERS CO-OP CREDIT SOCIETY LTD,NASHIK vs. ITO WARD 1(1), NASHIK

In the result, the appeal of the assessee in ITA No

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

viii) Provisions relating to exemption and deduction need to be strictly construed and no liberal interpretation on intendment can be inferred in such provisions. An interest income not allowed as deduction u/s 80P(2)(a) cannot be allowed u/s 80P(2)(d) just because the investments have been shifted from a scheduled bank to a co-operative bank. When done

M/S KIRAN SANRAN ASSOCIATES,PUNE vs. PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL), PUNE, PUNE

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

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2018-19

56,225/- 27,41,121/- 3.1 Further, on perusal of assessment records, it is found that there is substantial variation between consideration received or accrued and value adopted or assessed or assessable. The same difference is corroborated by the Index-II submitted with respect to the concerned sales. However, during the course of assessment proceedings, the assessee had relied

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, AURANGABAD., AURANGABAD. vs. TAPADIYA CONSTRUCTION LTD, AURANGABAD

In the result, appeal of the Revenue is dismissed

Bench: Dr. Manish Borad & Shri Vinay Bhamore

viii) Without prejudice, the levy of penalty u/s 271D is discretionary. The customers insisted upon accepting cash payment towards providing of the additional amenities. In terms of the provisions of section 273B, the Assessee had reasonable cause for accepting the cash from its customers. 8.2 Pertinently, the A.O. has not disputed any of the above basic facts

DEPUTY COMMISSIONER OF INCOME-TAX vs. DAIMLER CHRYSLER INDIA PVT. LTD.,, PUNE

In the result, the cross objection of the assessee is dismissed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita No.1381/Pun/2003 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Year : 1998-09 वष"

section 35AB of the Income Tax Act, 1961. 2. Disallowing expenditure of Rs.9,79,25,959/- in respect of write off CWIP due to discontinuation of MB car model series W 124 3. Disallowance Rs.25,600/- paid towards membership fee of Poona Golf Club & Hyatt Regency New Delhi, paid for Managing Director & other executives as expenditure

DAIMLER CHRYSLER INDIA PVT. LTD.,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,, PUNE

In the result, the cross objection of the assessee is dismissed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita No.1381/Pun/2003 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Year : 1998-09 वष"

section 35AB of the Income Tax Act, 1961. 2. Disallowing expenditure of Rs.9,79,25,959/- in respect of write off CWIP due to discontinuation of MB car model series W 124 3. Disallowance Rs.25,600/- paid towards membership fee of Poona Golf Club & Hyatt Regency New Delhi, paid for Managing Director & other executives as expenditure

DEPUTY COMMISSIONER OF INCOME TAX, AURANGABAD vs. VISTA NIRMAN PVT. LTD., MUMBAI

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2011-12

2. Dr. Amin’s Pathology Laboratory vs. P.N. Prasad, Joint Commissioner of Income-tax (2001) 252 ITR 673 (Bom) 3. ACIT v. M.P. Laghu Udyog Nigam Ltd. (2017) 83 taxmann.com 160 (Indore-Trib) 4. ITO v. TechSpan India (P.) Ltd. (2018) 92 taxmann.com 361 (SC) 5. Chetan Sabharwal vs. ACIT (2019) 110 taxmann.com 57 (Delhi) 16 CO No.21/PUN/2024 6. Subhodh

MERCEDES - BENZ INDIA PVT. LTD.,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,

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

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अऩीऱ सं./ Ita No. 1865/Pun/2013 यनधाारण वषा / Assessment Year : 1999-2000 Mercedes Benz India Private Limited. ( Formerly Known As Daimler Chrysler India Private Limited) E-3, Midc Chakan, Phase-Iii, Chakan Industrial Area, Kuruli & Nighoje, Tal : Khed, Pune-410 501. Pan : Aabcm 1789L .......अऩीऱाथी / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax, Circle-9, Pune. ……प्रत्यथी / Respondent

56 & 570f the Paper Book): "(a) a lump sum consideration of OM 56.6 million Deutsche Mark net of taxes 4 A.Y.1999-2000 Payable in four installments as follows: (i) OM 18.8 million one month after effectiveness of this agreement (ii) OM 18.8 million upon handing over of technical product documentation as per Article 3, however, not earlier than April

SPRINGER NATURE TECHNOLOGY AND PUBLISHING SOLUTIONS PRIVATE LIMITED,PUNE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), PUNE

The appeal of the Assessee is Partly Allowed for\nStatistical Purpose

56 of the Act.\"\n(emphasis supplied)\n2. 16. Similar principle has been upheld in following judicial rulings\namongst others that interest income on short term temporary\ndeposits from surplus funds is eligible for deduction under section\n10AA/10A/10B of the Act\nL Camiceria Apparels India (P) Ltd. vs ACIT ITA No. 1972 & 1973\nof 2008 (Madras)\nPCIT

BANK OF MAHARASHRA,PUNE vs. THE PR. COMMISSIONER OF INCOME TAX, PUNE, PUNE

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

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2018-19

56,31,309/- under the normal provisions and determined the book profit u/s 115JB of the Act at Rs.6911,69,43,041/-. 4. Subsequently, the Ld. PCIT examined the records and observed that the said book profit under the provisions of section 115JB was rectified by the Assessing Officer to Rs.2404,02,51,679/- vide order dated 08.06.2021 under

ASSISTANT COMMISSIONER OF INCOME-TAX,CENTRAL CIRCLE - 2(2),, PUNE vs. M/S SINHGAD TECHNICAL EDUCATION SOCIETY (TRUST), PUNE

In the result, the appeal of the Revenue in ITA

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl. It(Ss)A No./ Name Of Appellant Name Of Respondent Asst. No.

viii) There are numerous incidents wherein Sh.M.N.Navale has received recommendation letters from MLA, MP, ministers and eminent personalities seeking concession in donation to be paid. Many such letters were seized during search action which have been processed further by Sh.M.N.Navale by passing on due instruction to Sh.Bhosale.” XII. The ld. CIT-DR submits that Mr. M.N. Navale is key person

ACIT, CC-2(1), PUNE, PUNE vs. SARVOTTAM CONSTRUCTION, PUNE

In the result, the appeal filed by the Revenue is partly allowed for statistical purposes

Bench: SHRI MANISH BORAD (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)

viii) Sanjay Kumar Jain - Rs 2,50,000/- [Already Conformed by LD CIT(A) ] Total - Rs.1,69,54,328/- which were not fully proved before Ld. CIT(A) and also the identity and creditworthiness of the creditors and genuineness of the transactions could not be proved before Ld. CIT(A). But Ld. CIT(A) committed error in treating the above

MEENAMANI GANGA BUILDER LLP,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(3), PUNE

In the result, all the three appeals filed by the assessee are partly allowed

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

2 and on facts and circumstances prevailing in the case and as per provisions and scheme of the Act, it be held that the addition made by the Ld. AO and sustained by the First Appellate Authority is on a very high side. The same should be substantially reduced. The Appellant be granted just and proper relief in this respect

SHRI MANOJ MADANLAL CHHAJED,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -1(1)PUNE, PUNE

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / It(Ss)A Nos.91 To 96/Pun/2022 िनधा"रण वष" / Assessment Years : 2012-13 To 2017-18 Shri Manoj Madanlal Vs. Acit, Central Circle- Chhajed, 1(1), Pune. 601, A-8 Building, Karishma Housing Society, Near Sangam Press, Kothrud, Pune- 411029. Pan : Aalpc4991M Appellant Respondent आयकर अपील सं. / It(Ss)A Nos.97 & 98/Pun/2022 िनधा"रण वष" / Assessment Years : 2012-13 & 2015-16 Acit, Circle-1(1), Pune. Vs. Shri Manoj Madanlal Chhajed, 601, A-8 Building, Karishma Housing Society, Near Sangam Press, Kothrud, Pune- 411029. Pan : Aalpc4991M Appellant Respondent आयकर अपील सं. / Ita No.725/Pun/2022 िनधा"रण वष" / Assessment Year: 2018-19 Shri Manoj Madanlal Vs. Acit, Circle-1(1), Pune. Chhajed, 601, A-8 Building, Karishma Housing Society, Near Sangam Press, Kothrud, Pune- 411029. Pan : Aalpc4991M Appellant Respondent

56 taxmann.com 7 (Del) vii) CIT vs. Salek Chand Agarwal (2008) 300 ITR 426 (All) viii) CIT vs. Dinesh Jain (HUF) 352 ITR 629 (Del) 45 IT(SS)A Nos.91 to 96/PUN/2022 IT(SS)A Nos.97 & 98/PUN/2022 29. We find that the conclusions reached by the Assessing Officer are merely based on presumptions and assumptions without bringing any corroborative material

DEPUTY COMMSSIONER OF INCOME-TAX,, PUNE vs. IGATE GLOBAL SOLUTIONS LTD.,, PUNE

In the result, both the appeals are partly allowed

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita. No.342/Pun/2014 िनधा"रण वष" / Assessment Year : 2009-10

viii). Though a part of the income of the assessee qualified for deduction u/s.10A in the regular computation, but such deduction is not available in the computation of income u/s.115JB in view of the amended clause (f) 25 and IT(TP) A.No.10/Bang/2014 and clause (ii) of the Explanation 1 to section 115JB at the material time. Thus