DEPUTY COMMISSIONER OF INCOME TAX, JALGAON vs. TARADEVI RATANLAL BAFNA, JALGAON

short / long term capital gain,\ndetails of trade order, trade name, security quantity etc were produced before the\nAssessing Officer as well as before him.\n\n28. So far as the written submissions filed by the Ld. DR are concerned, the Ld.\nCounsel for the assessee filed the following written submissions rebutting the\ncontention

NAWAB PASHASAHEB JAMADAR,LATUR vs. THE INCOME TAX OFFICER, WARD-1, LATUR

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

Bench: Shri R.S. Syalआयकर अपीऱ सं. /Ita No.731/Pun/2023 निर्धारण वषा / Assessment Year : 2014-15 Nawab Pashasaheb Jamadar, Vs. Ito, Ward-1, Global Panacea Hospital, Latur Gross Golden Jubilee, B-Block, Mahaeboob Nagar, Ambajogai Road, Latur – 413 512, Maharashtra Pan : Aaopj3902E Appellant Respondent

transferred and the block ceases to exist that the short term capital gain is computed under section 50(2) by considering the sale price

SMT. SUMANDEVI DINESHKUMAR TULSYAN,,NASHIK vs. INCOME-TAX OFFICER, WARD - 1(5),, NASHIK

short) sold by the assessee\nduring the year for a value of Rs.9,12,18,266/-.\nThe SEBI had passed an interim order in relation to\nthis scrip by 'MFTL' holding that preferential allottees\nand promoters related entities had, with the aid of exit\nproviders, misused the exchange mechanism to exit at a\nhigher price in order to book illegitimate

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 adjustment suggested in the Draft Assessment Order before the Dispute Resolution Panel (DRP). Assessee for the first time, before the DRP pleaded that Assessee Company is eligible for a deduction under section 80IAB of the Act on Income from Other Sources amounting to Rs.57,03,058/- and Short Term Capital Gains

M/S. BILCARE LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), PUNE

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.273/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 Dcit, Central Circle-2(2), Vs. M/S. Bilcare Limited, Pune. 601, Icc Trade Tower, Pune- 411016. Pan : Aabcb2242F Appellant Respondent आयकर अपीऱ सं. / Ita No.334/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 M/S. Bilcare Limited, Vs. Dcit, Central Circle- 6Th Floor, B Wing, Icc 2(2), Pune. Trade Tower, Senapati Bapat Road, Pune- 411006. Pan : Aabcb2242F Appellant Respondent

price bargained for. Nor has it any necessary reference to the market value of the capital asset which is the subject-matter of the transfer. The ratio of this decision was subsequently followed by the Hon'ble Supreme Court in the case of CIT v. Gillanders Arbuthnot & Co. [1973] 87 ITR 407. Therefore, the legal position that emerges from

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), PUNE vs. M/S. BILCARE LIMITED, PUNE

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.273/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 Dcit, Central Circle-2(2), Vs. M/S. Bilcare Limited, Pune. 601, Icc Trade Tower, Pune- 411016. Pan : Aabcb2242F Appellant Respondent आयकर अपीऱ सं. / Ita No.334/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 M/S. Bilcare Limited, Vs. Dcit, Central Circle- 6Th Floor, B Wing, Icc 2(2), Pune. Trade Tower, Senapati Bapat Road, Pune- 411006. Pan : Aabcb2242F Appellant Respondent

price bargained for. Nor has it any necessary reference to the market value of the capital asset which is the subject-matter of the transfer. The ratio of this decision was subsequently followed by the Hon'ble Supreme Court in the case of CIT v. Gillanders Arbuthnot & Co. [1973] 87 ITR 407. Therefore, the legal position that emerges from

SONAL ASHISH SHAH,PUNE vs. ITO, WARD 7(1), PUNE, PUNE

In the result, appeal of the assessee is allowed

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.2541/Pun/2024 Assessment Year : 2014-15

transferred through the Demat account. The consideration received through the stock broker itself and there is no evidence putforth by the Revenue authorities that assessee was having any direct connection with the person purchasing/selling the alleged Equity shares. It is also an admitted fact that when the transactions took place, there was no restriction by the SEBI on the purchase

RAJKAMAL STONE METAL WORKS,AMBEGAON KHURD, DIST. PUNE vs. ACIT CIRCLE 5 PUNE, PUNE

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

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

short term capital gain. The relevant observations of the Hon'ble Supreme Court read as under: “7.5 In the present case, the assets of the partnership firm were revalued to increase the value by an amount of Rs. 17.34 crores on 01.01.1993 (relevant to A.Y. 1993-1994) and the revalued amount was credited to the accounts of the partners

ITO, NASHIK vs. ANKIT NARESH TULSIAN, NASHIK

In the result, appeal of the Revenue is dismissed

term capital gains on sale of \"penny\" stocks cannot be\ntreated as bogus & unexplained cash credit if the\ndocumentation is in order & there is no allegation of\nmanipulation by SEBI or the BSE. Denial of right of cross-\nexamination is a fatal flaw which renders the assessment\norder a nullity INCOME TAX DEPARTMENT\nKamla Devi S. Doshi V/s. The Income

BAJAJ HOUSING FINANCE LIMITED,PUNE vs. ITO, WARD-8(1), PUNE, PUNE

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

Bench: Dr.Manish Borad

short term capital gain’. It is not the case of Revenue that ld. AO has detected this transaction to have been taxed under wrong head but the assessee itself has offered it as income from ‘capital gain’ as has been originally declared it as ‘business income’ in the books. It is clearly a case of re-classification of income

M/S OM SHRINIWAS DEVELOPERS,PUNE vs. ITO WARED-6(3), PUNE, PUNE

In the result, appeal of the assessee is partly allowed

Bench: Ms.Astha Chandra & Dr.Dipak P. Ripoteआयकर अपील सं. / Ita No.1345/Pun/2025 िनधा"रण वष" / Assessment Year: 2016-17 M/S.Om Shriniwas Developers, V The Income Tax Officer, Off No.2 & 3, Vastusadan S Ward-6(3), Pune. Bldg, 743, Guruwar Peth, Pune – 411042. Maharashtra. Pan: Aabfo7491G Appellant/ Assessee Respondent / Revenue Assessee By Shri Bhuvanesh Kankani – Ar Revenue By Smt. N C Shilpa – Addl.Cit(Dr) Date Of Hearing 01/07/2025 Date Of Pronouncement 24/07/2025

transfer of the said flat is short term capital gain. In our view, the reopening of the assessment is purely on the basis of change of opinion of the AO from that held earlier during the course of assessment proceedings. This change of opinion does not constitute justification for assuming that income chargeable to tax has escaped assessment.” ITA No.1345/PUN/2025

INCOME TAX OFFICER, WARD - 3(1), PUNE, PUNE vs. SACHIN GOVIND APTE, PUNE

Accordingly, Grounds of appeal raised by the Revenue are dismissed

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपऩल सं. / Ita No.1720/Pun/2025 निर्धारण वषा / Assessment Years: 2013-14 The Income Tax Officer, V Sachin Govind Apte, Ward-3(1), Pune. S. 759-63, Prabhat Road, Erandwana, Pune – 411004. Pan: Aavpa9458P Appellant/ Revenue Respondent /Assessee Assessee By Ms.Vaishnavi Badwe Revenue By Shri Amit Bobde - Cit(Dr) Date Of Hearing 16/12/2025 Date Of Pronouncement 03/02/2026 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Revenue Against The Order Of Ld.Commissioner Of Income Tax(Appeal)[Nfac], Passed Under Section 250 Of The Income Tax Act, 1961 For The A.Y.2013-14 Dated 15.05.2025 Emanating From The Assessment Order Passed Under Section 143(3) Of The Act, Dated 30.03.2016. The Revenue Has Raised The Following Grounds Of Appeal : “1. Whether On The Facts & Circumstances Of The Case & In Law The Hon'Ble Cit (A) Was Justified In Deleting The Addition Of Rs.78,72,000/- Made Under Head Stcg & Disallowance Of Deduction U/S 54F Of The It. Act, 1961? 2. Whether On The Facts & Circumstances Of The Case & In Law The Hon‟Ble Cti (A) Was Justified In Deleting The Addition Of Rs.1,20,00,000/- Made On Account Of Deemed Dividend U/S Section 2(22)(E) Of The I.T. Act, 1961?

Short Term Capital Gain. On appeal filed by the Assessee, Ld.CIT(A) specifically held in the order u/s 250 that Partnership Firm Empire Ventures dissolved with effect from 31/03/2007. Ld.CIT(A) had decided it on the basis of Dissolution Deed evidencing dissolution of the firm from 31/03/2007, Affidavit of retired Partners. Revenue has not brought on record any evidence

KALAVATHI DEVI SHARMA,HYDERABAD vs. ITO, WARD-1, NANDED, NANDED

In the result, appeal of the assessee is dismissed

Bench: Dr.Manish Borad

transfer of PAN jurisdiction. In the absence of any submission in support of her contentions raised in the grounds, the appellant's claim cannot be ascertained. Hence, the Ground No. 4 raised by the appellant is dismissed.” 7. From going through the above finding of ld.CIT(A), I find that the same needs no interference and observe that a valid

ASHOK SOMNATH SONAWANE,NASHIK vs. ITO WARD 2(1) NASHIK, NASHIK MAHARASHTRA

Bench: Shri Manish Borad & Ms. Astha Chandraआयकर अपील सं. / Ita No.2154/Pun/2024 धििाारण वर्ा / Assessment Year : 2013-14 Ashok Somnath Sonawane, Ito, Ward-2(1), Nashik Tara Kutir Bunglow, Mahatma Nagar, Nashik-422005 Vs. Pan : Alops7734A अपीलार्थी / Appellant प्रत्यर्थी / Respondent Assessee By : Shri Suhas Vadulekar (Virtual) Department By : Shri Ramnath P. Murkunde Date Of Hearing : 23-07-2025 Date Of 30-09-2025 Pronouncement : आदेश / Order

short term capital gain (“STCG”) u/s 50C of the Act treating it as a capital asset. The assessee filed its submissions in response to the said show cause notice. However, the submissions of the assessee were not found to be acceptable by the Ld. AO and he completed the assessment u/s 143(3) r.w.s. 147 of the Act vide

DIMPLE RAJESH OSWAL,PUNE vs. INCOME TAX OFFICER WARD 5(1), PUNE

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

Bench: Shri R. K. Pandaassessment Year : 2016-17

short term capital gain admitted on sale of flat (computation, customer ledger, first page of deed; possession certificate etc) but the assessee has not filed any objection against proposed addition u/s 56(2)(vii)(b) on purchase of immovable property. Hence, it is presumed that the assessee has no objection to the proposed addition being the differential amount (Rs.10

SATARA ENGINEERING PROJECTS AND EQUIPMENTS PRIVATE LIMITED,SATARA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE, SATARA, SATARA

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

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.2450/Pun/2025 Assessment Year : 2024-25

short term capital gains derived from transfer of a capital asset on which no depreciation is allowable under the Act shall be computed at the rate of twenty-two per cent: Provided also that where the person fails to satisfy the conditions contained in sub-section (2) in any previous year, the option shall become invalid in respect

M/S VODAFONE GLOBAL SERVICES P LTD,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE 1(1),, PUNE

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

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.660/Pun/2022 Assessment Year : 2018-19

short ‘the Act’) 2. Assessee has raised following grounds of appeal : “A. General 1. Assessing the total income at Rs. 35,15,54,470 as against income of Rs. 18,83,22,690 (as per the return of income filed by the Appellant on 30 November 2018) making a Transfer Pricing adjustment of Rs. 16,32,31,780. B. Transfer

PUNE MATHADI HAMAL AND OTHER MANUAL WORKERS BOARD,PUNE vs. INCOME TAX OFFICER, WARD-5(1), PUNE, PUNE

In the result, appeal of the assessee is partly allowed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.1012/Pun/2023 िनधा"रण वष" / Assessment Year : 2018-19 Pune Mathadihamal & Other The Income Tax Manual Workers Board, V Officer, Shramashakti Bhavan, S Ward-5(1), Pune. Coomercial Plot No.1, Market Yard, Pune – 411037. Pan: Aaalp0097L Appellant/ Assessee Respondent /Revenue Assessee By Shri Vipul Joshi – Ar Revenue By Shri Ajay Kumar Keshari & Shri Rajesh Gawali– Dr’S Date Of Hearing 17/04/2024 Date Of Pronouncement 27/06/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Against The Orders Of Ld.Commissionerof Income Tax(Appeals)[Nfac], Under Section 250 Of The Act Dated 14.07.2023 :

short term funds, major part of interest is paid back to workers and taxed in their hands as "Salary" and part of the interest is used to defray the administrative expenses of the board as small portion of levy is not sufficient to meet the administrative expenses of the board in the form of salary of clerks, rent, telephone, electricity