DINESHKUMAR RAMCHANDRA TULSYAN (HUF),,NASHIK vs. INCOME-TAX OFFICER, WARD - 1(5),, NASHIK

In the result, both the appeals filed by the assessee are partly allowed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2014-15 Dineshkumar Ramchandra Tulsyan (Huf) Ito, Ward 1(5), 214B, Laxmi Niwas, Mahatma Nagar, Vs. Nashik Nashik – 422007 Pan: Aachd5953R (Appellant) (Respondent) Assessment Year : 2014-15 Smt. Sumandevi Dineshkumar Tulsyan Ito, Ward 1(5), 214B, Laxmi Niwas, Mahatma Nagar, Vs. Nashik Nashik – 422007 Pan: Ackpt1322Q (Appellant) (Respondent)

unexplained cash credit. I further find that Hon'ble jurisdictional High Court in the case of Parasben Kasturchand Kochar (supra) also held that when assessee discharged his onus by establishing that transactions were fair and transparent and all relevant details with regard to transfer furnished by Income Tax Authority and the Tribunal have also took the notice of fact that

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

price is more than the stamp duty value of the property, we find merit in the arguments of the Ld. Counsel for the assessee that there is no case for making addition u/s 56(2)(x) of the Act. Accordingly, the order of the CIT(A) / NFAC is set aside on this issue and the grounds of appeal No.7

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

cash credit. I further find that Hon'ble jurisdictional\nHigh Court in the case of Parasben Kasturchand Kochar (supra)\nalso held that when assessee discharged his onus by establishing\nthat transactions were fair and transparent and all relevant details\nwith regard to transfer furnished by Income Tax Authority and the\nTribunal have also took the notice of fact that

DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 5,, PUNE vs. RAKESH MOTILAL SHARMA,, PUNE

Appeals are partly allowed in above terms

Bench: Shri S.S.Godara, Jm & Shri Dr. Dipak P. Ripote, Am आयकर अपीऱ सं. / Ita No.2123 & 2124/Pun/2017 ननधधारण वषा / Assessment Year : 2013-14 & 2014-15

price could not be held as bogus or in-genuine. The appellant further in the detailed submission had refuted the various arguments given along with reasons by the AO for treating the income from Long term capital gains as unexplained credit U/s. 68 of the Act, thereby analyzing the AO‟s arguments and the reasons for refuting the same

DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 5,, PUNE vs. RAKESH MOTILAL SHARMA,, PUNE

Appeals are partly allowed in above terms

Bench: Shri S.S.Godara, Jm & Shri Dr. Dipak P. Ripote, Am आयकर अपीऱ सं. / Ita No.2123 & 2124/Pun/2017 ननधधारण वषा / Assessment Year : 2013-14 & 2014-15

price could not be held as bogus or in-genuine. The appellant further in the detailed submission had refuted the various arguments given along with reasons by the AO for treating the income from Long term capital gains as unexplained credit U/s. 68 of the Act, thereby analyzing the AO‟s arguments and the reasons for refuting the same

BRAHM PRECISION MATERIALS PVT LTD,AURANGABAD vs. CIT(A), NATIONAL FACELESS APPEAL CENTRE (NFAC) DELHI

In the result, appeal of the assessee for A

unexplained cash credit u/s 68 of the Act is\nhereby confirmed. This ground of appeal is hereby dismissed.”\n19. We have heard the rival contentions and perused the\nrecord placed before us. In Ground No.1, assessee has raised\nthe issue that 1d.CIT(A) erred in confirming the disallowance of\nRs.97,61,190/- made by the AO denying the claim

BRAHM PRECISION MATERIALS PVT. LTD.,AURANGABAD vs. COMMISSIONER OF INCOME TAX (APPEALS), NATIONAL FACELESS APPEAL CENTRE, NEW DELHI

In the result, appeal of the assessee for A

unexplained cash credit u/s 68 of the Act is\nhereby confirmed. This ground of appeal is hereby dismissed.”\n\n19. We have heard the rival contentions and perused the\nrecord placed before us. In Ground No.1, assessee has raised\nthe issue that 1d.CIT(A) erred in confirming the disallowance of\nRs.97,61,190/- made by the AO denying the claim

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

In the result, all the above 6 appeals filed by the Revenue are dismissed and

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

unexplained cash credit under section 68 of the Act. The appellant strongly objected to it in Grounds No. 5 and 6. 8.1 The appellant submitted all the documents to the assessing officer at the assessment stage that pertain to the sale and purchase of the shares of M/s PFL Infotech Ltd., like DEMAT account statement, copy of bank statement reflecting

MEENAMANI GANGA BUILDER LLP ,PUNE vs. PCIT (CENTRAL), PUNE , PUNE

In the result, the appeal of the assessee is dismissed

unexplained credits of unsecured loan\ntransactions of Rs.11,59,98,119/- as per the provisions of section 68\nof the Act. However, the same was not done and the AO failed to do\nthe same during the course of assessment proceedings.\n04. In view of the above, it is found that no verification on the\naforesaid issue has been done

RAVINDRA DADA PAIL,,NASHIK vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 2,, KOLHAPUR

Appeal is dismissed

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपीलसं. / Ita No.2881/Pun/2017 िनधा"रणवष" / Assessment Year : 2014-15 Shri Ravindra Dada Patil, The Acit, Circle-2, Flat No.607/608, Signature Vs Kolhapur. Apartment, Serene Meadow, . Anandwali, Nashik. Pan: Addpp 4442 K Appellant/ Assessee Respondent /Revenue Assessee By Shri Pramod Shingte – Ar Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 11/07/2022 Date Of Pronouncement 29/08/2022 आदेश/ Order Per S.S.Godara, Jm: This Assessee’S Appeal For Assessment Year 2014-15 Is Directed Against The Commissioner Of Income Tax(Appeals)-2, Kolhapur’S Order Dated 14.11.2017 Passed In Case No.Kop/267/2016- 17, In Proceedings U/S.143(3) Of The Income Tax Act, 1961 [In Short “The Act”].

unexplained cash credits before both the lower authorities and therefore, the impugned addition made after rejecting his explanation that the same had been derived from sale of shares eligible for exemption under section 10(38) of the Act, ought to be deleted. 5. The Revenue has placed strong reliance both the learned lower authorities action making the impugned addition

SEMPERTRANS INDIA PRIVATE LIMITED,ROHA vs. INCOME-TAX OFFICER, PANVEL

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

cash and liquidity\nmanagement, support for business analysis,\n(Vol 2)\nAssistance with the benchmarking and business\nimprovement inputs\n9\nLegal affairs &\ninsurance\nMonitor and coordinate all corporate and compliance\nmatters,\nPg No. 1167\nto 1191\nNo\nManagement of Compliance Management System,\nAdvice in drafting regulations and resolutions, etc.\nAdvice on insurance matters, etc.\n(Vol 2)\n10\nRisk\nmanagement

ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE -2,, NASHIK vs. NARESH J. KARDA,, NASHIK

Bench: Shri Satbeer Singh Godara & Shri G.D. Padmashali

unexplained cash credit deserves to be deleted in light of the foregoing detailed evidence on merits as well as the foregoing judicial precedents. 5. The Revenue placed strong reliance on both the lower authorities action making the impugned addition. 6. We have given our thoughtful consideration to rival contentions and find no merit in assessee’s stand. We make

ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE -2,, NASHIK vs. NARESH J. KARDA,, NASHIK

Bench: Shri Satbeer Singh Godara & Shri G.D. Padmashali

unexplained cash credit deserves to be deleted in light of the foregoing detailed evidence on merits as well as the foregoing judicial precedents. 5. The Revenue placed strong reliance on both the lower authorities action making the impugned addition. 6. We have given our thoughtful consideration to rival contentions and find no merit in assessee’s stand. We make

ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE -2,, NASHIK vs. NARESH J. KARDA,, NASHIK

Bench: Shri Satbeer Singh Godara & Shri G.D. Padmashali

unexplained cash credit deserves to be deleted in light of the foregoing detailed evidence on merits as well as the foregoing judicial precedents. 5. The Revenue placed strong reliance on both the lower authorities action making the impugned addition. 6. We have given our thoughtful consideration to rival contentions and find no merit in assessee’s stand. We make

INCOME TAX OFFICER WARD HINGOLI, WARD HINGOLI (CAMP AT PARBHANI) vs. VISHWAS AGRO PRODUCT PVT LTD, PARBHANI

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

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2017-18

transferred for investment in fixed assets. Hence it is hereby concluded that the funds received by the assessee-company from the Pranav International Ltd., Dubai to the tune of Rs.1,62,84,153/- in FY 2016-17 are unexplained credit in the books of the assessee. Accordingly, the unexplained credit of Rs.1,62,84,153/- is added to the total

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

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

unexplained cash credit u/s 68 of the Act and made addition of Rs.24,11,47,250/- to the total income of the assessee. 9. Before the CIT(A), the assessee apart from challenging the addition on merit, challenged the validity of re-assessment proceedings. However, the Ld. CIT(A) deleted the addition made by the Assessing Officer

DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - ICHALKRANJI, ICHALKRANJI vs. MANISHA RAJENDRA SHETE,, KOLHAPUR

Appeals are allowed in above terms

Bench: Shri S.S.Godara & Shri Inturi Rama Raoआयकर अपीलसं. / Ita No.664/Pun/2019 िनधा"रणवष" / Assessment Year : 2015-16 The Deputy Commissioner Nilawati Neminath Shete, Of Income Tax, Vs Mahaveer Nagar, A/P- Hupari, Ichalkalkaranji Circle, . Tal – Hatkanangale, Ichalkaranji. Dist-Kolhapur, Maharashtra – 416203. Pan: Aczps 8442 H Appellant/ Assessee Respondent /Revenue आयकर अपीलसं. / Ita No.665/Pun/2019 िनधा"रणवष" / Assessment Year : 2015-16 The Deputy Commissioner Niranjan Rajendra Shete, Of Income Tax, Vs Mahaveer Nagar, A/P- Hupari, Ichalkalkaranji Circle, . Tal – Hatkanangale, Ichalkaranji. Dist-Kolhapur, Maharashtra – 416203. Pan: Botps 0314 D Appellant/ Assessee Respondent /Revenue आयकर अपीलसं. / Ita No.666/Pun/2019 िनधा"रणवष" / Assessment Year : 2015-16 The Deputy Commissioner Manisha Rajendra Shete, Of Income Tax, Vs Mahaveer Nagar, A/P- Hupari, Ichalkalkaranji Circle, . Tal – Hatkanangale, Ichalkaranji. Dist-Kolhapur, Maharashtra – 416203. Pan: Aczps 8514 N Appellant/ Assessee Respondent /Revenue Assessee By None Revenue By Shr Ramnath P Murkunde – Dr Date Of Hearing 08/09/2022 Date Of Pronouncement 29/09/2022

cash credits under section 68 of the Act. The CIT(A)’s detailed discussion in issues reads as follows: “5.1 Ground Nos. 1 to 5 I have carefully considered the reasons given by AO for making additions, the submissions of the AR in this regard and the ITA No’s.664 to 666/PUN/2019 for A.Y. 2015-16 (R) Nilawati Neminath Shete

DEPUTY COMMISSIONER OF INCOME-TAX, ICHALKARANJI CIRCLE,, ICHALKARANJI vs. NIRANJAN RAJENDRA SHETE,, KOLHAPUR

Appeals are allowed in above terms

Bench: Shri S.S.Godara & Shri Inturi Rama Raoआयकर अपीलसं. / Ita No.664/Pun/2019 िनधा"रणवष" / Assessment Year : 2015-16 The Deputy Commissioner Nilawati Neminath Shete, Of Income Tax, Vs Mahaveer Nagar, A/P- Hupari, Ichalkalkaranji Circle, . Tal – Hatkanangale, Ichalkaranji. Dist-Kolhapur, Maharashtra – 416203. Pan: Aczps 8442 H Appellant/ Assessee Respondent /Revenue आयकर अपीलसं. / Ita No.665/Pun/2019 िनधा"रणवष" / Assessment Year : 2015-16 The Deputy Commissioner Niranjan Rajendra Shete, Of Income Tax, Vs Mahaveer Nagar, A/P- Hupari, Ichalkalkaranji Circle, . Tal – Hatkanangale, Ichalkaranji. Dist-Kolhapur, Maharashtra – 416203. Pan: Botps 0314 D Appellant/ Assessee Respondent /Revenue आयकर अपीलसं. / Ita No.666/Pun/2019 िनधा"रणवष" / Assessment Year : 2015-16 The Deputy Commissioner Manisha Rajendra Shete, Of Income Tax, Vs Mahaveer Nagar, A/P- Hupari, Ichalkalkaranji Circle, . Tal – Hatkanangale, Ichalkaranji. Dist-Kolhapur, Maharashtra – 416203. Pan: Aczps 8514 N Appellant/ Assessee Respondent /Revenue Assessee By None Revenue By Shr Ramnath P Murkunde – Dr Date Of Hearing 08/09/2022 Date Of Pronouncement 29/09/2022

cash credits under section 68 of the Act. The CIT(A)’s detailed discussion in issues reads as follows: “5.1 Ground Nos. 1 to 5 I have carefully considered the reasons given by AO for making additions, the submissions of the AR in this regard and the ITA No’s.664 to 666/PUN/2019 for A.Y. 2015-16 (R) Nilawati Neminath Shete