MADANLAL LALCHAND JAIN,NANDURBAR vs. ACIT CENTRAL CIRCLE 2, NASHIK

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2021-22 Madanlal Lalchand Jain Acit, Central Circle-2, Vibhare Building, Nashik Near City Police Station, Vs. Hat Darwaja Station Road, Nandurbar – 425412 Pan: Abkpj3633K (Appellant) (Respondent) Assessment Year : 2021-22 Acit, Central Circle-2, Madanlal Lalchand Jain Nashik Vibhare Building, Vs. Near City Police Station, Hat Darwaja Station Road, Nandurbar – 425412 Pan: Abkpj3633K (Appellant) (Respondent) Co No.42/Pun/2025 Assessment Year : 2021-22 Madanlal Lalchand Jain Acit, Central Circle-2, Vibhare Building, Nashik Near City Police Station, Vs. Hat Darwaja Station Road, Nandurbar – 425412 Pan: Abkpj3633K (Appellant) (Respondent) Assessment Year : 2022-23 Madanlal Lalchand Jain Acit, Central Circle-2, Vibhare Building, Nashik Near City Police Station, Vs. Hat Darwaja Station Road, Nandurbar – 425412 Pan: Abkpj3633K (Appellant) (Respondent) : Shri Nikhil S Pathak Department By : Shri Amol Khairnar, Cit-Dr Date Of Hearing : 03-11-2025 Date Of Pronouncement : 21-11-2025 O R D E R Per Bench:

section 68 r.w.s. 115BBE of the Act cannot be attracted to the additional income declared during the course of search. 26. Even otherwise also the assessee during the course of search in his statement recorded u/s 132(4) of the Act has stated to have obtained loans from various persons as per the seized document. 27. We find

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, NASHIK, NASHIK vs. MADANLAL LALCHAND JAIN, NANDURBAR

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2021-22 Madanlal Lalchand Jain Acit, Central Circle-2, Vibhare Building, Nashik Near City Police Station, Vs. Hat Darwaja Station Road, Nandurbar – 425412 Pan: Abkpj3633K (Appellant) (Respondent) Assessment Year : 2021-22 Acit, Central Circle-2, Madanlal Lalchand Jain Nashik Vibhare Building, Vs. Near City Police Station, Hat Darwaja Station Road, Nandurbar – 425412 Pan: Abkpj3633K (Appellant) (Respondent) Co No.42/Pun/2025 Assessment Year : 2021-22 Madanlal Lalchand Jain Acit, Central Circle-2, Vibhare Building, Nashik Near City Police Station, Vs. Hat Darwaja Station Road, Nandurbar – 425412 Pan: Abkpj3633K (Appellant) (Respondent) Assessment Year : 2022-23 Madanlal Lalchand Jain Acit, Central Circle-2, Vibhare Building, Nashik Near City Police Station, Vs. Hat Darwaja Station Road, Nandurbar – 425412 Pan: Abkpj3633K (Appellant) (Respondent) : Shri Nikhil S Pathak Department By : Shri Amol Khairnar, Cit-Dr Date Of Hearing : 03-11-2025 Date Of Pronouncement : 21-11-2025 O R D E R Per Bench:

section 68 r.w.s. 115BBE of the Act cannot be attracted to the additional income declared during the course of search. 26. Even otherwise also the assessee during the course of search in his statement recorded u/s 132(4) of the Act has stated to have obtained loans from various persons as per the seized document. 27. We find

JAIBHAGWAN BANARASIDAS JINDAL,JALNA vs. THE INCOME TAX OFFICER, WARD-1, JALNA

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2016-17

85,38,145/- has escaped assessment within the meaning section 147 of the Income Tax Act, 1961 due to the failure on the part of the assessee to disclose true and correct income in his return of income for A.Y.2016-17. The provisions of Explanation 1 to section 147 is squarely applicable in the case of the assessee. Applicability

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

85,300/- declared by the assessee as deemed income of the assessee, taxable under the provisions of section 69A with the applicability of section 115BBE of the Act. 5. Aggrieved, the assessee filed an appeal before the Ld. CIT(A). However, there was no compliance to various notice(s) issued by the Ld. CIT(A). He, therefore, proceeded

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

sections 68, 69, 69A to 69D and levy of higher rate of tax u/s 115BBE, following factors are required to be considered – • Whether nature of income is clearly explained during the survey or during assessment proceedings. • Whether income can be classified under a particular head of income based on nature so as to demonstrate that it is flowing from

DY COMMISSIONER OF INCOME TAX CIRCLE 5 PUNE, PUNE vs. DIPTI NARENDRA LULLA, PUNE

Section 68. In the instant\nappeal no enquiry was made by the AO to obtain information from the creditors.\n8.6 Based on the above discussion it is evident that the appellant has discharge\nthe onus but while making the addition the AO has not done any further investigation/\nenquiry in drawing an adverse inference.\n8.7 In view

RAJENDRA MOHANLAL AGRAWAL,JALNA vs. INCOME TAX OFFICER, WARD-1, JALNA, JALNA

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

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

section 68 are not applicable to sales credited in the books of accounts, is rejected. 10. Next contention raised by the appellant is that he is under no obligation to provide confirmations of debtors from whom cash was collected. This, contention of the appellant is not acceptable because the primary burden to prove the genuineness of credits

KAPIL ALCOTECH LLP,AURANGABAD vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE - 1, AURANGABAD

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

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2020-21

68 are absent, the addition made is 9 prima facie unjustified. He submitted that the CIT(A) / NFAC without understanding the evidence on record in a very cryptic order has sustained the addition made by the Assessing Officer which is not correct. 16. The Ld. DR on the other hand heavily relied on the orders of the Assessing Officer

RAHUL NEMGONDA PATIL,KOLHAPUR vs. INCOME TAX OFFICER, ICHALKARANJI

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

section 68 of the Act\nas unexplained cash credit. He, however, contended that the addition\nshould be restricted only to peak credit to the extent of Rs.15,27,000/-.\nHe argued that bringing to tax the gross amount of cash deposits would\nresult in double taxation of the same income as the amounts withdrawn\nwould be always available against

MR. MAHENDRA MOHINIRAJ GANDHE,AHMEDNAGAR vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE , AHMEDNAGAR

In the result, appeal of the assessee is allowed

Bench: Ms.Astha Chandra & Dr.Dipak P. Ripoteआयकर अपील सं. / Ita No.413/Pun/2020 िनधा"रण वष" / Assessment Year: 2016-17 Mr.Mahendra Mohiniraj V The Assistant Gandhe, S Commissioner Of Income 270/31, Manisha Banglow, Tax, Ahmednagar Circle, Professor Colony, Ahmednagar. Savedi Road, Ahmednagar – 414003. Pan: Aaypg 2983J Appellant/ Assessee Respondent / Revenue Assessee By Shri Hari Krishan – Ar Revenue By Shri Ramnath P Murkunde - Dr Date Of Hearing 17/03/2025 Date Of Pronouncement 21/03/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Against The Order Of Ld.Commissioner Of Income Tax(Appeals)-2, Pune Passed Under Section 143(3) Of The Income Tax Act, 1961; Dated 21.01.2020 For Assessment Year 2016-17. The Assessee Has Raised The Following Grounds Of Appeal :

85[Provided also] that nothing contained in the first proviso 86[or second proviso] shall apply if the person, in whose name the sum referred to therein is recorded, is a venture capital fund or a venture capital company as referred to in clause (23FB) of section 10.” 4.1 Thus, the Section 68

INCOME-TAX OFFICER vs. PRATHAMESH CERAMICS PVT. LTD.,, NASHIK

In the result, appeal of the Revenue in ITA No

Bench: Shri D. Karunakara Rao, Am & Shri Laliet Kumar, Jm आयकर अपीऱ सं. / Ita Nos. 2260, 2261 & 2262/Pun/2014 नििाारण वषा / Assessment Years: 2009-10, 2010-11 & 2011-12 The Income Tax Officer, Ward 2(2), Nashik. .......अऩीऱाथी / Appellant बिाम / V/S. Prathamesh Ceramics Pvt. Ltd. Plot No. 4/5, Anandkunj Appttl. Juna Gangapur Naka, Gangapur Road, Nashik. Pan: Aaecp1078Q ……प्रत्यथी / Respondent

85,07,500 4.1 The Assessing Officer with a view to verify the genuineness, creditworthiness and identity of these 35 entities had issued letter to the A.Ys.2009-10, 2010-11 & 2011-12 assessee on 10th January, 2013 asking the assessee to submit the following seven points: i) Names and Addresses of the shareholders who had purchased shares on premium

INCOME-TAX OFFICER vs. PRATHAMESH CERAMICS PVT. LTD.,, NASHIK

In the result, appeal of the Revenue in ITA No

Bench: Shri D. Karunakara Rao, Am & Shri Laliet Kumar, Jm आयकर अपीऱ सं. / Ita Nos. 2260, 2261 & 2262/Pun/2014 नििाारण वषा / Assessment Years: 2009-10, 2010-11 & 2011-12 The Income Tax Officer, Ward 2(2), Nashik. .......अऩीऱाथी / Appellant बिाम / V/S. Prathamesh Ceramics Pvt. Ltd. Plot No. 4/5, Anandkunj Appttl. Juna Gangapur Naka, Gangapur Road, Nashik. Pan: Aaecp1078Q ……प्रत्यथी / Respondent

85,07,500 4.1 The Assessing Officer with a view to verify the genuineness, creditworthiness and identity of these 35 entities had issued letter to the A.Ys.2009-10, 2010-11 & 2011-12 assessee on 10th January, 2013 asking the assessee to submit the following seven points: i) Names and Addresses of the shareholders who had purchased shares on premium

INCOME-TAX OFFICER vs. PRATHAMESH CERAMICS PVT. LTD.,, NASHIK

In the result, appeal of the Revenue in ITA No

Bench: Shri D. Karunakara Rao, Am & Shri Laliet Kumar, Jm आयकर अपीऱ सं. / Ita Nos. 2260, 2261 & 2262/Pun/2014 नििाारण वषा / Assessment Years: 2009-10, 2010-11 & 2011-12 The Income Tax Officer, Ward 2(2), Nashik. .......अऩीऱाथी / Appellant बिाम / V/S. Prathamesh Ceramics Pvt. Ltd. Plot No. 4/5, Anandkunj Appttl. Juna Gangapur Naka, Gangapur Road, Nashik. Pan: Aaecp1078Q ……प्रत्यथी / Respondent

85,07,500 4.1 The Assessing Officer with a view to verify the genuineness, creditworthiness and identity of these 35 entities had issued letter to the A.Ys.2009-10, 2010-11 & 2011-12 assessee on 10th January, 2013 asking the assessee to submit the following seven points: i) Names and Addresses of the shareholders who had purchased shares on premium

SACHIN RAMDAS MOHITE,,SATARA vs. PR. COMMISSIONER OF INCOME-TAX-3,, PUNE

Appeal is allowed in above terms

Bench: Shri S.S. Godara, Jm & Shri G.D. Padmahshali, Am

68, read with section 263 of the Income-tax Act, 1961 - Cash credit (Share application money) - Assessment ycar 2000-10 - During relevant year, assessee company had increased its share capital by issuing 7.93 lakh shares of Rs.10 each at a premium of Rs.390 - assessee originally filed a return showing a gross total income of Rs.24, 658 however, thereafter wrote

ROASHAN VISHNU PATHARE, L/H OF VISHNU TUKARAM PATHARE,,PUNE vs. INCOME-TAX OFFICER, WARD - 4(4),, PUNE

Appeal is partly allowed for statistical purposes in above terms

Bench: Shri S.S.Godara, Jm & Shri Dr. Dipak P. Ripote, Am आयकर अपील सं./ Ita No.221/Pun/2018 धनधाारण वषा / Assessment Year : 2012-13

Section 68 of the IT Act. Subject to this, the order of the AO is confirmed. Ground No. 2 is also dismissed.” 6. The very factual position continuous before us as well since the assessee has not been able to explain source of the impugned cash deposits. We thus upheld the impugned addition in light

CRYSTAL GLAZING & CLADDING,PUNE vs. INCOME TAX OFFICER, WARD-7(1), PUNE, PUNE

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

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

85,47,261/- by recording his findings and observations in respect of various additions made by him as under : “03. (a) On Perusal of Profit & Loss account is noted that the assessee nas claimed purchases to the extent of Rs.1,31,12 821/- As the assessee failed to furnish the details of party wise purchases, copies of ledger extracts, copies

KAILASWASI NARAYAN ALIAS BAPU PATIL SHIKSHAN PRASARAK MANDAL,KOLHAPUR vs. INCOME-TAX OFFICER, WARD 1(2), KOLHAPUR

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

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

section 115BBC of the Act. The addition made of Rs. 24,82,619/- is hereby confirmed. Ground Nos. 1, 2, 3 & 4 raised by the appellant are accordingly dismissed.” 6. Dissatisfied, the assessee is in appeal before the Tribunal raising the following grounds of appeal. “1. On the facts and in the circumstances of the case

DY. COMMISSIONER OF INCOME TAX (EXEMPTIONS), CIRCLE, PUNE, SWARGATE, PUNE vs. SHREE CHANAKYA EDUCATION SOCIETY, AUNDH ,PUNE

In the result, both the appeals filed by the Revenue and the Cross Objection filed by the assessee are dismissed

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2014-15

68 of the Act by treating the bogus purchases of Rs.1,85,00,000/- as unexplained credit. 6. Before the Ld. CIT(A) / NFAC it was submitted that the assessee is a public charitable trust registered u/s 12A of the Act and the return was filed by claiming exemption u/s 11 of the Act. It was argued that