6 CIT in v. Mohmed Juned Dadani

Pravin Ambalal Patel, Ahmedabad vs. The Deputy Commissioner of Income Tax, Circle-4(2), Ahmedabad

In the result, appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./ Ita No.3138/Ahd/2016 "नधा"रण वष"/Asstt. Year: 2010-12

…al gain ought not to have been calculated by the assessee. However, the ld.AO has not made any addition on account of income escaped for sale of the property. On the strength of Hon’ble Gujarat High Court’s decision in the case of CIT Vs. Mohmed Juned Dadani, 355 ITR 172 (Guj) he submitted that if any addition was not made on an issue for which assessment was reopened, then no other issue can be adjudicated by the AO. He also made reference to the decision of Hon’ble Delhi High Court in the case of Ranbaxy Laboratories Ltd. Vs. CIT, 336 ITR 136 and decision of Hon’ble Bombay High Court in the case of CIT Vs. Jet…

Shantaben Parasmal Jain, Ahmedabad vs. The Deputy Commissioner of Income Tax, Circle-3(1), Vadodara

In the result, appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./ Ita No. 726/Ahd/2017 "नधा"रण वष"/Assessment Year: 2010-11 Shantaben Parasmal Jain, Vs. Dcit, 27, Vijay Society, Cir – 3(1), New Khanderao Road., Vadodara. Baroda. Pan No. Abwpj 8597 J अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Prakash D. Shah, A.R. Revenue By : Shri S. N. Dev, Sr. D.R. सुनवाई क" तार"ख/Date Of Hearing : 08.08.2018 घोषणा क" तार"ख /Date Of Pronouncement : 15.10.2018 आदेश/O R D E R Per Waseem Ahmed: The Captioned Appeal Has Been Filed At The Instance Of The Assessee Against The Appellate Order Of The Learned Commissioner Of Income-Tax (Appeals)-I, Vadodara [“Cit(A)” In Short] Relevant To Assessment Year 2010- 11. 2. Assessee Has Raised The Following Grounds Of Appeal:- “1. That The Learned Commissioner Of Income Tax (Appeals) Has Erred In Law & Facts By Upholding The Reassessment Proceedings & Therefore The Order Passed By The Learned Ao Is Required To Be Quashed. 2. That The Learned Commissioner Of Income Tax (Appeals) Has Erred In Law & Facts By Confirming The Disallowance Of Long Term Capital Gain Of Rs. 87,57,789/- As Exempt Income & Adding Back To The Total Income Of The Appellant & Therefore The Learned Ao Should Be Directed To Allow The Claim Of Exempt Income. 3. That The Appellant Craves Liberty To Add, Amend, Alter & Delete Any Grounds Of Appeal Before The Final Hearing.”

…ssessment, allegation is for the Bogus Sale of Rs.92,56,189/- whereas the claim under section 10(38) of Rs. 87,57,789/-has been rejected and in view of the following judgments, the reassessment proceeding is bad in law:- (a) CIT Vs. Mohd Juned Dadani, [2013) 355 ITR 172 (Guj). (b) CIT Vs. Jet Airways (1) Ltd. (2011) 331 ITR 236 (Bom) (c) Shri Bhadresh K. Shah Vs (ITA No.89/Ahd/2012) -Copy of the said order is submitted herewith as Annexure CL-1 & 2 For Ready reference the copy of the reasons for the reassessment along with its covering letter of the Id.A1 is submitted herewith as Annexure PB-1 & 2. 2. In pursua…

Bhansali Fiscal Services Pvt.Ltd., Ahmedabad vs. The Income Tax Officer, Ward-1(2), Ahmedabad

In the result, the appeal is allowed

…ITA No. 1317/Ahd/2014 Bhansali Fiscal Services Pvt Ltd Vs. ITO Assessment year: 2007-08 Page 1 of 4 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “A” BENCH, AHMEDABAD [Coram: Pramod Kumar, AM and Ms. Madhumita Roy, JM] Assessment Year: 2007-08 Bhansali Fiscal Services Pvt Ltd ............…………......Appellant 27, 1st Floor, New Cloth Market, O/s Raipur Gate, Ahmedabad-380001 [PAN : AAACB 6168 M] Vs. ...........................Respondent Income Tax Officer Ward-1(2), Ahmedabad Appearances by: Tushar Hemani & PB Parmar, for the Appellant Saurabh Singh, for the Respondent Date of concluding the hearing : 22.06…

Bhansali Fiscal Services Pvt.Ltd., Ahmedabad vs. The Income Tax Officer, Ward-1(2), Ahmedabad

In the result, the appeal is allowed

…ITA No. 1316/Ahd/2014 Bhansali Fiscal Services Pvt Ltd Vs. ITO Assessment year: 2005-06 Page 1 of 4 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “A” BENCH, AHMEDABAD [Coram: Pramod Kumar, AM and Ms. Madhumita Roy, JM] Assessment Year: 2005-06 Bhansali Fiscal Services Pvt Ltd ............…………......Appellant 27, 1st Floor, New Cloth Market, O/s Raipur Gate, Ahmedabad-380001 [PAN : AAACB 6168 M] Vs. ...........................Respondent Income Tax Officer Ward-1(2), Ahmedabad Appearances by: Tushar Hemani & PB Parmar, for the Appellant Saurabh Singh, for the Respondent Date of concluding the hearing : 22.06…