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

set off of losses cannot be claimed / adjusted against income assesses u/s 68/ 69 to 69D of the Act. Will and mandate of legislature is dearly evident from the incorporation of new section

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

set off of losses cannot be claimed / adjusted against income assesses u/s 68/ 69 to 69D of the Act. Will and mandate of legislature is dearly evident from the incorporation of new section

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

set off of losses cannot be claimed / adjusted against income assesses u/s 68/ 69 to 69D of the Act. Will and mandate of legislature is dearly evident from the incorporation of new section

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 income u/s 115BBE at a Special Rate was introduced only from AY 2017-18 and onwards.. Even the negative condition of denial of set- off of any other LOSS

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 income u/s 115BBE at a Special Rate was introduced only from AY 2017-18 and onwards.. Even the negative condition of denial of set- off of any other LOSS

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 income u/s 115BBE at a Special Rate was introduced only from AY 2017-18 and onwards.. Even the negative condition of denial of set- off of any other LOSS

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\nincome u/s 115BBE at a Special Rate was introduced only from AY\n2017-18 and onwards.. Even the negative condition of denial of set-\noft of any other LOSS

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\nincome u/s 115BBE at a Special Rate was introduced only from AY\n2017-18 and onwards.. Even the negative condition of denial of set-\noff of any other LOSS

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\nincome u/s 115BBE at a Special Rate was introduced only from AY\n2017-18 and onwards.. Even the negative condition of denial of set-\noff of any other LOSS

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

loss and hence eligible for set-off against deemed income under section 68. 5. Additional Ground though raised before CIT(A) not considered

CAPGEMINI TECHNOLOGY SERVICES INDIA LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 11,, PUNE

In the result, both the appeals are partly allowed

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

set off and carry forward only of the brought forward loss and unabsorbed depreciation of the amalgamating company in the hands of the amalgamated company. He found such provision as not covering long term capital loss. He also did not find any force in the contention of the assessee about the applicability of section

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE -11,, PUNE vs. CAPGEMINI TECHNOLOGY SERVICES INDIA LIMITED , (FORMERLY IGATE GLOBAL SOLUTIONS LTD.),, PUNE

In the result, both the appeals are partly allowed

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

set off and carry forward only of the brought forward loss and unabsorbed depreciation of the amalgamating company in the hands of the amalgamated company. He found such provision as not covering long term capital loss. He also did not find any force in the contention of the assessee about the applicability of section

CONSTRUCTION PROTAL PVT. LTD.,,PUNE vs. INCOME-TAX OFFICER,,

In the result, the appeal of the assessee is allowed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita Nos. 1607 & 1608/Pun/2014 िनधा"रण वष" / Assessment Years : 2005-06 & 2006-07

68 assessable under head “income from other sources and as per provisions of section 71, business losses of assessee could be set

CONSTRUCTION PROTAL PVT. LTD.,,PUNE vs. INCOME-TAX OFFICER,, PUNE

In the result, the appeal of the assessee is allowed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita Nos. 1607 & 1608/Pun/2014 िनधा"रण वष" / Assessment Years : 2005-06 & 2006-07

68 assessable under head “income from other sources and as per provisions of section 71, business losses of assessee could be set

POONAWALLA SHARES & SECURITIES PVT.LTD,PUNE vs. ASSISTANT COMMISSIONER OF WEALTH-TAX, CIRCLE-4, PUNE

Appeal is partly allowed in above terms

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपीलसं. / Ita No.380/Pun/2020 िनधा"रण वष" / Assessment Year : 2016-17 Poonawalla Shares & Securities The Assistant Pvt. Ltd., Vs Commissioner Of Income 16-B,/1, Sarosh Bhavan, Tax, Dr.Ambedkar Road, Circle-4, Pune. Pune – 411001 Pan: Aaacp 6087 H Appellant/ Assessee Respondent /Revenue Assessee By Shri Percy Pardiwala – Ar Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 08/07/2022 Date Of Pronouncement 29/07/2022 आदेश/ Order Per S.S.Godara, Jm: This Assessee’S Appeal For Assessment Year 2016-17 Is Directed Against The Commissioner Of Income Tax(Appeals)-3, Pune’S Order Dated 11.12.2019 Passed In Case No.Pn/Cit(A)-3/Cir 4/193/2018-19/428, In Proceedings U/S.143(3) Of The Income Tax Act, 1961 [In Short “The Act”].

68,952/- in its return of income and not Rs. 10,24,180/-. ITA No.380/PUN/2020 for A.Y. 2016-17 Poonawalla Shares & Securities Pvt. Ltd., Vs. ACIT, Circle-4, Pune (A) 5.9 Further assessee itself has applied provisions of old Rule 8D while calculating the suo moto disallowance. This indicates that application of Sec 14A r.w Rule 8D is acceptable

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

loss wherein he added the amount of Rs.2 crore to be taxed u/s 68 r.w.s. 115BBE of the Act. 4. In appeal, the Ld. CIT(A) confirmed the action of the Assessing Officer by observing as under: “9. I have considered the facts of the case and the submissions made by the appellant. There is no dispute on the fact

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

loss. I had not disclosed this income in my return\nof Income. After taking in to account the abovementioned expenses I had\nearned approx. Rs 15,00,000/- on the AY 2013-14 as most of the payout of\nLTCG against cash was done in this year. I have not disclosed this income in\nmy return filed

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

Loss\n|---|---|---|---|---|\n| Long Term |\n| 111926 | 5372447 | 82196621 | 76824174 | - |\n| | 5372447 | 82196621 | 76824174 | |\n\n6. The assessee purchased shares of penny stock company. Part of this was sold during the FY 2014-15 as\ndetailed above. The detailed investigation carried out by the AO resulted into proving the fact that the assessee in\nfact claimed bogus long term capital