M/S ACCORD MEDIPLUS PVT LTD,PUNE vs. INCOME TAX OFFICER, WARD-1(1), PUNE, PUNE

section 56(2)(vib) of the Act, to the\nparliament, special mention was made by the Honorable FM in\nrespect of closely held companies as well as taxing share premium in\nexcess of FMV. The FMV in instant case which is being projected is\nhighly doubtful, in view of the facts below:\n(i) Assessee does not own any land

M/S ACCORD MEDIPLUS PVT LTD,PUNE vs. INCOME TAX OFFICER, WARD-1(1), PUNE, PUNE

Bench: Dr.Manish Borad & Shri Vinay Bhamore

section 56(2)(viib) of the Act, to the parliament, special mention was made by the Honorable FM in respect of closely held companies as well as taxing share premium in excess of FMV. The FMV in instant case which is being projected is highly doubtful, in view of the facts below: (i) Assessee does not own any land

M/S ACCORD MEDIPLUS PVT LTD,PUNE vs. INCOME TAX OFFICER, WARD-1(1), PUNE, PUNE

Bench: Dr.Manish Borad & Shri Vinay Bhamore

section 56(2)(viib) of the Act, to the parliament, special mention was made by the Honorable FM in respect of closely held companies as well as taxing share premium in excess of FMV. The FMV in instant case which is being projected is highly doubtful, in view of the facts below: (i) Assessee does not own any land

M/S ACCORD MEDIPLUS PVT LTD,PUNE vs. INCOME TAX OFFICER, WARD-1(1), PUNE, PUNE

Bench: Dr.Manish Borad & Shri Vinay Bhamore

section 56(2)(viib) of the Act, to the parliament, special mention was made by the Honorable FM in respect of closely held companies as well as taxing share premium in excess of FMV. The FMV in instant case which is being projected is highly doubtful, in view of the facts below: (i) Assessee does not own any land

M/S ACCORD MEDIPLUS PVT LTD,PUNE vs. INCOME TAX OFFICER, WARD-1(1), PUNE, PUNE

Bench: Dr.Manish Borad & Shri Vinay Bhamore

section 56(2)(viib) of the Act, to the parliament, special mention was made by the Honorable FM in respect of closely held companies as well as taxing share premium in excess of FMV. The FMV in instant case which is being projected is highly doubtful, in view of the facts below: (i) Assessee does not own any land

SAR SENAPATI UMABAI DABHADE NAGARI SAHAKARI PATSANSTA MARYADIT,PUNE vs. PCIT-3, PUNE

In the result, the appeal of the assessee is allowed

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

56 of the Act. 8. As regards the claim of the assessee regarding admissibility of deduction w/s. 80P(2)(d) of the Act, it may be mentioned that a plain reading of the Sec. 8OP(2)(d) of the Act shows that interest income earned by a cooperative society will be eligible for deduction only from its investments with another

SHRI GURUDEV CHANDRASHEKHAR KARANTH,PUNE vs. INCOME TAX DEPARTMENT CIT(DRP-3), MUMBAI

In the result, Grounds Number 1 and 2 raised by the Assessee are allowed

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.147/Pun/2025 िनधा"रण वष" / Assessment Year: 2018-19 Shri Gurudev Chandrashekhar V Income Tax Department Karanth, S. Cit(Drp-3), Mumbai-1. 21 Cozy Retreat, Sindh Colony, Aundh, Pune – 411007. Maharashtra. Pan: Cgnpk6203J Appellant/ Assessee Respondent / Revenue Assessee By Shri B.C.Malakar – Advocate Revenue By Shri Prakash L Pathade – Cit-Dr Date Of Hearing 04/03/2025 Date Of Pronouncement 02/06/2025 आदेश/ Order Per Vinay Bhamore, Jm: This Is An Appeal Filed By The Assessee Against The Assessment Order Under Section 147 R.W.S 144C(13) Of The Income Tax Act, 1961 Dated 23.12.2024 For The A.Y.2018-19, Emanating From The Order Of The Dispute Resolution Panel U/S.144C(5) Of The Act, Dated 20.12.2024. The Assessee Has Raised The Following Grounds Of Appeal :

price paid by the assessee as per the Registered Agreement. The difference of Rs.7,75,500/- is 4 % only of the Value Decided by DVO. 5. Section 56(2)(x) was amended by Finance Act, 2018, the amended section is reproduced here as under : “56(2)(x) where any person receives, in any previous year, from any person or persons

KRISH WINES,JALGAON vs. ACIT CIRCLE 1,, JALGAON

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

transferred from the ITO, Ward\n2(2), Jalgaon to DCIT, Circle – 2, Jalgaon (now Circle – 1, Jalgaon) on 08.04.2019\nas per jurisdiction. Notice u/s 142(1) of the Act on 20.05.2019 along with\nquestionnaire asking the assessee to file certain details regarding the scrutiny\nassessment.\nSecond notice u/s 142(1) of the Act was issued on 31.10.2019\nrequesting the assessee

M/S. CLASSIC CITI INVESTMENTS PRIVATE LIMITED,PUNE vs. THE INCOME TAX OFFICER, WARD-1(2), PUNE

In the result, the appeal for the A

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

transfer of 34000 Equity shares at value of Rs.11,764.70 per share. The assessee submitted valuation report in respect of Equity shares to Diana having the fair market of shares at Rs.11,680.00 per share under Discounted Cash Flow (DCF) method. The AO held that the shares acquired by the assessee from ABIL were undervalued at Rs.11,764.70 per share

M/S. CLASSIC CITI INVESTMENTS PRIVATE LIMITED,PUNE vs. THE INCOME TAX OFFICER, WARD-1(2), PUNE

In the result, the appeal for the A

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

transfer of 34000 Equity shares at value of Rs.11,764.70 per share. The assessee submitted valuation report in respect of Equity shares to Diana having the fair market of shares at Rs.11,680.00 per share under Discounted Cash Flow (DCF) method. The AO held that the shares acquired by the assessee from ABIL were undervalued at Rs.11,764.70 per share

QUBIX BUSINESS PARK PRIVATE LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-8, PUNE, PUNE

In the result, Ground No.2 of the assessee is allowed for statistical purpose

Bench: DR.DIPAK P. RIPOTE (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)

transfer pricing adjustments ought not be made to the computation of book profits under section 115JB of the Act. 7. Non grant of deduction under section 80-IAB on income from other sources and capital gains earned during the subject year The Hon’ble. DRP / NFAC / Ld.AO has erred in not granting a deduction under section

SHREENATH MHASKOBA CREDIT CO-OP. SOCIETY LTD.,PUNE vs. THE PCIT, PUNE-4, PUNE

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

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

56 of the Act." 5 8. Further, a Co-operative bank cannot be treated as co-operative society for the purpose of allowability of deduction u/s. 80P(2)(d) of the Act. In this regard, this is to state that a plain reading of the Sec. 80P(2)(d) of the Act shows that interest income earned by a cooperative

PUNE MADHYAMIK SHIKSHAK SAHKARI PATAPEDHI MARYADIT,PUNE vs. PRINCIPAL COMMISSIONER OF INCOME TAX,PUNE 4, PUNE

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

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

56 of the Act." 8. Further, a Co-operative bank cannot be treated as co-operative society for the purpose of allowability of deduction u/s. 80P(2)(d) of the Act. In this regard, this is to state that a plain reading of the Sec. 80P(2)(d) of the Act shows that interest income earned by a cooperative society

M/S PERSISTENT SYSTEMS LIMITED,PUNE vs. ASSESSMENT UNIT, INCOME-TAX DEPARTMENT, PUNE

In the result, appeal of the Assessee is Partly Allowed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकरअपीलसं. / Ita No.692/Pun/2022 िनधा"रणवष" / Assessment Year : 2018-19 M/S.Persistent Systems Assessment Unit, Income Limited, V Tax Department. “Bhageerath” 402, Senapati S Bapat Road, Pune – 411016. Pan: Aabcp 1209 Q Appellant/ Assessee Respondent /Revenue Assessee By Shri Dhanesh Bafna& Shriaditya Vaidya– Ar’S Revenue By Shri Suhas Kulkarni - Irs Addl Commissioner Of Income Tax Date Of Hearing 26/09/2023 Date Of Pronouncement 02/11/2023 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Directed Against The Assessment Order, Dated 20.07.2022 Under Section 143(3) R.W.S. 144C(13) Read With Section 144B Of The Income Tax Act, 1961 For A.Y.2018-19. The Assessee Has Raised The Following Grounds Of Appeal: “Ground 1: Order Is Invalid / Non Est  On The Facts & In The Circumstances Of The Case & In Law, The Assessment Unit (‘Au’) Has Erred In Passing The Draft Assessment M/S.Persistent Systems Limited [A]

section 92CA(3) of the Act on 30/07/2021 recommending an adjustment of Rs.27,05,17,208/- to the value of the international transaction. Aggrieved by the order of the TPO the assessee filed an appeal before Dispute Resolution Pannel (DRP).The DRP confirmed it. Then the Assessing Officer passed the Final Assessment order giving effect to the directions

DHAS KISHOR RAMCHANDRA, AURANGABAD vs. DWARKAPRASAD BHIKULAL SONI, JALNA

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

Bench: SHRI R. K. PANDA (Vice President), SHRI VINAY BHAMORE (Judicial Member)

56(2)(x) made by the Assessing Officer, we find that Ld. CIT(A) has deleted both the additions by observing as under :- “5.2 I have gone through the submission of the appellant along with supporting documents submitted during the appellate proceedings as well as during the assessment proceedings before the Ld. AO. The appellant has contested the determination

CUMMINS GENERATOR TECHNOLOGIES INDIA PRIVATE LIMITED,PUNE vs. THE ASSESSMENT UNIT, INCOME TAX DEPARTMENT, NFAC AND THE ACIT, CIRCLE 1(1), PUNE, PUNE

In the result, appeal of the assessee is partly allowed

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपीलसं. / Ita No.1641/Pun/2024 िनधा"रण वष" / Assessment Year: 2020-21 Cummins Generator V The Assessment Unit, Technologies India Pvt. Ltd., S Income Tax Department, Tower A, 6Th Floor, Cummins Nfac & The Acit, India Offie Campus, Balewadi, Circle-1(1), Pune. Pune – 411045. Pan: Aabcc1533E Appellant/ Assessee Respondent / Revenue Assessee By Shri Ketan Ved – Ar Revenue By Shir Prakash L Pathade – Cit(Dr) Date Of Hearing 05/12/2024 Date Of Pronouncement 19/12/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Of Assessing Officer Passed Under Section 143(3) R.W.S. 144C(13) Read With Section 144B Of The Income Tax Act, 1961 Dated 07.06.2024; To Give Effect To The Order Of Dispute Resolution Panel Dated 18.05.2024. The Grounds Of Appeal Raised By The Assessee Are As Under : “1. Ground For Not Following The Directions Of The Hon'Ble Dispute Resolution Panel (Hereinafter Referred To As "Drp")

2 Transfer Pricing Officer to determine the Arms Length Price(ALP) of International Transactions. The Transfer Pricing Officer(TPO), Deputy Commissioner of Income Tax(TP)-1(1), Pune passed an order under section 92CA(3) of the Act on 29.07.2023. The assessee aggrieved by the order of Transfer Pricing Officer preferred an appeal before Dispute Resolution Panel. Dispute Resolution Panel

DEPUTY COMMISSIONER OF INCOME TAX, AURANGABAD vs. ASHISH JUGALKISHOR BHALA, JALNA

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2021-22 Dcit, Aurangabad Ashish Jugalkishor Bhala Mamta Hospital, Shivaji Putla Road, Vs. Bharat Nagar, Jalna – 431203 Maharashtra Pan: Ahmpb3683K (Appellant) (Respondent) Assessee By : Shri Anand Partani Department By : Shri Ramnath P Murkunde Date Of Hearing : 01-04-2025 Date Of Pronouncement : 16-06-2025 O R D E R

section 56(2)(x) of the Income Tax Act. It is seen that the assessee has adopted fair market value of Rs.540/- per share which is not acceptable. The assessee has purchased 1,19,360 shares. Details of such purchase is as under: S.No. Name of the persons from whom you Total Number Value have purchased shares of Metarolls

GURUDEODATTA NAGARI SAHAKARI PATSANSTHA LIMITED,PUNE vs. THE PCIT IT-4, PUNE

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

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

56 of the Act.” 8. The assessee has also argued that Co-operative bank can be treated as co- operative society for the purpose of allowability of deduction u/s. 80P(2)(d) of the Act. In this regard, this is to state that a plain reading of the Soc. 80P(2)(d) of the Act shows that interest income earned