ITAT Pune

Reassessment based on Documents already in hand of AO not Valid

DCIT Vs Sovereign Pharma Pvt. Ltd. (ITAT Pune)

DCIT Vs Sovereign Pharma Pvt. Ltd. (ITAT Pune) A bare perusal of reasons for reopening would show that the Assessing Officer has erred in invoking the provisions of section 148 r.w.s. 147 after the expiry of four years to cover up his own follies. It is not the case of Revenue that the assessee has […]...

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Growing of hybrid seeds is Agricultural Activity

DCIT Vs Genuine Seeds Pvt. Ltd (ITAT Pune)

DCIT Vs Genuine Seeds Pvt. Ltd (ITAT Pune) The CIT(A) while deciding the issue in the present case had in turn, relied on the decision of Pune Bench of Tribunal in ACIT Vs. Ajeet Seeds Ltd. (supra), which has been confirmed by the Hon’ble High Court. Consequently, we hold that growing of hybrid seeds in […]...

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Section 54B does not specify that entire land should be used for cultivation

Rajendra Bastimal Chordiya Vs ITO (ITAT Pune)

Rajendra Bastimal Chordiya Vs ITO (ITAT Pune) The issue in the present ground is with respect to the denial of claim of deduction u/s 54B of the Act for the reason that the land was not cultivable. We find that the reason for denying the claim of deduction u/s 54B of the Act was for […]...

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Reassessment not valid if Reason for issuing reassessment notice not furnished to assessee

Shri Gulab L. Bodke Vs ITO (ITAT Pune)

When a notice under section 148 is issued, the proper course of action for the assessee is to file return and if he so desires, to seek reasons for issuing notices and AO is bound to furnish reasons within a reasonable time. On receipt of reasons, the assessee is entitled to file objections to issuance of notice and the AO is bound to dis...

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Revisionary jurisdiction cannot be exercised against Void order

Pioneer Distilleries Limited Vs Pr. CIT (ITAT Pune)

Pioneer Distilleries Limited Vs Pr. CIT (ITAT Pune) In the present set of facts where the Commissioner himself has given a finding that the re-assessment proceedings have not been correctly carried out against the assessee and the Assessing Officer has failed to fulfill his obligation, then under such circumstances where, he has also held...

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No addition of notional annual rent of unsold flats held in stock-in-trade

M/s. Kolte Patil I-Ven Townships, Pune Limited Vs ACIT (ITAT Pune)

M/s. Kolte Patil I-Ven Townships Vs ACIT (ITAT Pune) The issue in the present case is with respect to addition under the head ‘income from house property’ on the 32 unsold flats/shops by the assessee. It is an undisputed fact that assessee is in the business of Civil Engineers, Builders and Developers and had in […]...

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If Authorised representative is empowered by assessee to appear before authorities,every concession was binding on assessee

M/s. K. S. Cold Storage Vs ACIT (ITAT Pune)

Once assessee empowers his Authorised represntative to appear before authorities, all of authorised representatives concessions were binding on assessee and there was no need to ignore any concession made by Authorised representative and personally call upon assessee to make concession in every case....

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MA is maintainable only if appeal is pending and not admitted

Shri Ratanlal C. Bafna Vs JCIT (ITAT Pune)

Shri Ratanlal C. Bafna Vs JCIT (ITAT Pune) When appeal has been filed before the Hon’ble High Court, the appeal is admitted and substantial question of law has been framed in the said appeal, then the Tribunal cannot recall the order. In the present case since the appeal against the order of the Tribunal has […]...

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Deity is a juristic person & have status of individual for taxation

Vijaya Durga Devi Trust Vs DCIT (ITAT Pune)

Vijaya Durga Devi Trust Vs DCIT (ITAT Pune) It is an undisputed fact that the trust has been created in the year 1968 and as per the trust deed, the entire income is to be used for the upkeep of Deity. It is also an undisputed fact that the Deity is the sole beneficiary of […]...

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Notice u/s 143(2) is invalid if it is issued but not served

Anil Kisanlal Marda Vs ITO (ITAT Pune)

Since no effort was made by AO to serve another notice u/s. 143(2) before the deadline after returning from postal authorities the original notice u/s 143(2) thus, the jurisdictional condition of `service’ of notice u/s. 143(2) and not its `issue’ was not satisfied  and accordingly, assessment order passed in absence of a valid juris...

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