M/S. SAVA HEALTHCARE LTD,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX,, PUNE

In the result, 70% of world profits are added in the hands of assessee under guise of Profit Split Method

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.1062 To 1068/Pun/2017 यििाारण वषा / Assessment Years : 2007-08 To 2013-14

price determined by TPO. Then, our attention was drawn to Instruction No.3/2016, dated 10.03.2016, wherein it is clearly provided that the Assessing Officer has to provide an opportunity of being heard to the taxpayer before recording his satisfaction in three situations mentioned in the said Circular i.e. before making reference to the TPO. In this regard, the Ld. AR referred

M/S. SAVA HEALTHCARE LTD,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX,, PUNE

In the result, 70% of world profits are added in the hands of assessee under guise of Profit Split Method

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.1062 To 1068/Pun/2017 यििाारण वषा / Assessment Years : 2007-08 To 2013-14

price determined by TPO. Then, our attention was drawn to Instruction No.3/2016, dated 10.03.2016, wherein it is clearly provided that the Assessing Officer has to provide an opportunity of being heard to the taxpayer before recording his satisfaction in three situations mentioned in the said Circular i.e. before making reference to the TPO. In this regard, the Ld. AR referred

M/S. SAVA HEALTHCARE LTD,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX,, PUNE

In the result, 70% of world profits are added in the hands of assessee under guise of Profit Split Method

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.1062 To 1068/Pun/2017 यििाारण वषा / Assessment Years : 2007-08 To 2013-14

price determined by TPO. Then, our attention was drawn to Instruction No.3/2016, dated 10.03.2016, wherein it is clearly provided that the Assessing Officer has to provide an opportunity of being heard to the taxpayer before recording his satisfaction in three situations mentioned in the said Circular i.e. before making reference to the TPO. In this regard, the Ld. AR referred

M/S. SAVA HEALTHCARE LTD,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX,, PUNE

In the result, 70% of world profits are added in the hands of assessee under guise of Profit Split Method

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.1062 To 1068/Pun/2017 यििाारण वषा / Assessment Years : 2007-08 To 2013-14

price determined by TPO. Then, our attention was drawn to Instruction No.3/2016, dated 10.03.2016, wherein it is clearly provided that the Assessing Officer has to provide an opportunity of being heard to the taxpayer before recording his satisfaction in three situations mentioned in the said Circular i.e. before making reference to the TPO. In this regard, the Ld. AR referred

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

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

investment projects and\nsupport,\nPg No. 1021\nto 1045\nNo\nInstallation and engineering on site for projects, evaluation\nof safety, fire protection measures, etc.\n(Vol 2)\n8\nAccounting &\nConsolidation\nTraining and user support for consolidation tool and\nmaintenance of MIS,\nPg No. 1046\nto 1166\nNo\nCoordination and support for cash and liquidity\nmanagement, support for business analysis

DY COMMISSIONER OF INCOME-TAX, SANGLI CIRCLE,, SANGLI vs. ANAND DEVELOPERS, SANGLI

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

unexplained money u/s 69A of the Act, apart from the profits of Rs.3,58,69,978/- arrived at by deduction of cost of acquisition of Rs.4,94,30,022/- from the sale consideration sated in the sale deed of Rs.8,53,00,000/-. 8. The Assessing Officer also received information from the ACIT, CC, Kolhapur that during the course

ANAND DEVELOPERS,SANGLI vs. INCOME-TAX OFFICER, WARD 2(1), SANGLI

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

unexplained money u/s 69A of the Act, apart from the profits of Rs.3,58,69,978/- arrived at by deduction of cost of acquisition of Rs.4,94,30,022/- from the sale consideration sated in the sale deed of Rs.8,53,00,000/-. 8. The Assessing Officer also received information from the ACIT, CC, Kolhapur that during the course

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

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

transfer pricing adjustment. It is hereby informed that the Board has accepted the decision of the High Court of Bombay in the above mentioned Writ Petition. In view of the acceptance of the above judgment, it is directed that the ratio decidenal of the judgment must be adhered to by the field officers in all cases where this issue

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)

unexplained expenditure in his statement recorded on oath u/s 132(4) of the Act, which has an evidentiary value until not proven otherwise along with supporting documentary evidences. 11. Whether on the facts and circumstances of the case and in law, the Ld. CIT (A) erred in deleting the disallowance made of Rs.1,49,910/- out of agricultural income only

SANGEETA BASAVRAJ MANGRULE,,AURANGABAD vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 2,, AURANGABAD

Appeal is dismissed in above terms

transferred to the assessee only on 24.08.2013 and price of each equity share is priced at Rs.10/- whereas the assessee has paid only Rs.8/-. The AO has also examined the report submitted by Mr. BVS Koteeshwara Rao and Smt. Vijayalakshmi and noted that Mr. BVS Koteeswara Rao and Smt. Vijayalakshmi have sold 3,04,500 shares

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

In the result, appeal of the assessee is dismissed

Bench: Dr.Manish Borad

prices of Equity shares of M/s. Achal Investment Ltd. Ld. AO also observed that assessee has purchased the Equity shares of M/s. Achal Investment Ltd. through offline mode on 12.11.2012. Further, there was no response from the side of assessee to the notice issued u/s.142(1) of the Act. Ld. AO concluded that the long term capital gain shown

JAYNA ENTERPRISES PRIVATE LIMITED,,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX,, PUNE

In the result, the appeal of the assessee in ITA

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am

price rigging / manipulation of shares. The AO must also show that the relevant evidence produced by the assessee in the form of bills, contract notes, demat statement, bank account, etc. to prove the genuineness of the transactions are false or fictitious or bogus.” 16. From the above written submissions, the case of the AR is that the issue under consideration

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

ASSISTANT COMMISSIONER OF INCOME-TAX vs. SHRI MAHESH BHAGWAT CHAUDHARY,, JALGAON

In the result, appeal of the Revenue is dismissed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita Nos.629 To 634/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2006-07 To 2011-12 वष"

unexplained expenditure. During the First Appellate Proceedings, assessee submitted that the foreign trip was sponsored by Hero Motorcorp Ltd. and furnished a copy of letter dated 26-09-2005 received from the said company. The copy of letter indicates that the expenses to be borne by the dealer. In absence of any documentary evidence towards the expenses incurred on this

ASSISTANT COMMISSIONER OF INCOME-TAX vs. SHRI MAHESH BHAGWAT CHAUDHARY,, JALGAON

In the result, appeal of the Revenue is dismissed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita Nos.629 To 634/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2006-07 To 2011-12 वष"

unexplained expenditure. During the First Appellate Proceedings, assessee submitted that the foreign trip was sponsored by Hero Motorcorp Ltd. and furnished a copy of letter dated 26-09-2005 received from the said company. The copy of letter indicates that the expenses to be borne by the dealer. In absence of any documentary evidence towards the expenses incurred on this

ASSISTANT COMMISSIONER OF INCOME-TAX vs. SHRI MAHESH BHAGWAT CHAUDHARY,, JALGAON

In the result, appeal of the Revenue is dismissed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita Nos.629 To 634/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2006-07 To 2011-12 वष"

unexplained expenditure. During the First Appellate Proceedings, assessee submitted that the foreign trip was sponsored by Hero Motorcorp Ltd. and furnished a copy of letter dated 26-09-2005 received from the said company. The copy of letter indicates that the expenses to be borne by the dealer. In absence of any documentary evidence towards the expenses incurred on this

ASSISTANT COMMISSIONER OF INCOME-TAX vs. SHRI MAHESH BHAGWAT CHAUDHARY,, JALGAON

In the result, appeal of the Revenue is dismissed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita Nos.629 To 634/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2006-07 To 2011-12 वष"

unexplained expenditure. During the First Appellate Proceedings, assessee submitted that the foreign trip was sponsored by Hero Motorcorp Ltd. and furnished a copy of letter dated 26-09-2005 received from the said company. The copy of letter indicates that the expenses to be borne by the dealer. In absence of any documentary evidence towards the expenses incurred on this

ASSISTANT COMMISSIONER OF INCOME-TAX vs. SHRI MAHESH BHAGWAT CHAUDHARY,, JALGAON

In the result, appeal of the Revenue is dismissed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita Nos.629 To 634/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2006-07 To 2011-12 वष"

unexplained expenditure. During the First Appellate Proceedings, assessee submitted that the foreign trip was sponsored by Hero Motorcorp Ltd. and furnished a copy of letter dated 26-09-2005 received from the said company. The copy of letter indicates that the expenses to be borne by the dealer. In absence of any documentary evidence towards the expenses incurred on this