CIT v. Abhishek Corporation (158 CTR 374)

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), CHENNAI vs. RADIANCE REALTY DEVELOPERS INDIA LTD., CHENNAI

ITA 2982/CHNY/2024[2020-21]Status: DisposedITAT Chennai02 May 2025AY 2020-21

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

…tire receipts. Similar view is noted to have been expressed by the the entire receipts. Similar view is noted to have been expressed by the Hon’ble High Court of Gujarat in the case of ble High Court of Gujarat in the case of CIT CIT v. Abhishek Corporation (158 CTR 374) (158 CTR 374). 4.18 We find that the Ld. CIT(A) had also rightly relied on the decision of We find that the Ld. CIT(A) had also rightly relied on the decision of We find that the Ld. CIT(A) had also rightly relied on the decision of the Hon'ble Kerala High Court in the case of Hon'ble Kerala High Court in the case of CIT v.C. Najeeb C. Najeeb (…

ASSISTANT COMMISSIONER OF INCOME-TAX, MADURAI vs. ALBA INDUSTRIES LIMITED, CHENNAI

ITA 287/CHNY/2024[2019-20]Status: DisposedITAT Chennai26 Nov 2024AY 2019-20

Bench: Shri Aby T. Varkey & Shri Jagadish

For Appellant: Mr. S. Sridhar, AdvocateFor Respondent: Mr. R. Clement Ramesh –

Section 132Section 132(4)Section 143(3)Section 153A

…TMI PCIT Vs. Anupam Organiser (2020) (9) TMI ITA Nos.282 to 287/Chny/2024 (AYs 2014 2014-15 to 2019-20) CO Nos.20 to 25/Chny/2024 (AYs 2014 2014-15 to 2019-20) M/s. Alba Industries Ltd. M/s. Alba Industries Ltd. :: 25 :: 973 & CIT Vs. Abhishek Corporation (158 CTR 374) CIT Vs. Abhishek Corporation (158 CTR 374) CIT Vs. Abhishek Corporation (158 CTR 374) and Hon’ble Bombay High Court in the case of igh Court in the case of CIT Vs Sumer Builders (ITA No. CIT Vs Sumer Builders (ITA No. 1849 of 2011). In all these decisions, it was held that the entire . In all these decisions, it was held that the entire . In a…

ASSISTANT COMMISSIONER OF INCOME-TAX, MADURAI vs. ALBA INDUSTRIES LIMITED, CHENNAI

ITA 286/CHNY/2024[2018-19]Status: DisposedITAT Chennai26 Nov 2024AY 2018-19

Bench: Shri Aby T. Varkey & Shri Jagadish

For Appellant: Mr. S. Sridhar, AdvocateFor Respondent: Mr. R. Clement Ramesh –

Section 132Section 132(4)Section 143(3)Section 153A

…TMI PCIT Vs. Anupam Organiser (2020) (9) TMI ITA Nos.282 to 287/Chny/2024 (AYs 2014 2014-15 to 2019-20) CO Nos.20 to 25/Chny/2024 (AYs 2014 2014-15 to 2019-20) M/s. Alba Industries Ltd. M/s. Alba Industries Ltd. :: 25 :: 973 & CIT Vs. Abhishek Corporation (158 CTR 374) CIT Vs. Abhishek Corporation (158 CTR 374) CIT Vs. Abhishek Corporation (158 CTR 374) and Hon’ble Bombay High Court in the case of igh Court in the case of CIT Vs Sumer Builders (ITA No. CIT Vs Sumer Builders (ITA No. 1849 of 2011). In all these decisions, it was held that the entire . In all these decisions, it was held that the entire . In a…

ASSISTANT COMMISSIONER OF INCOME-TAX, MADURAI vs. ALBA INDUSTRIES LIMITED, CHENNAI

ITA 285/CHNY/2024[2017-18]Status: DisposedITAT Chennai26 Nov 2024AY 2017-18

Bench: Shri Aby T. Varkey & Shri Jagadish

For Appellant: Mr. S. Sridhar, AdvocateFor Respondent: Mr. R. Clement Ramesh –

Section 132Section 132(4)Section 143(3)Section 153A

…TMI PCIT Vs. Anupam Organiser (2020) (9) TMI ITA Nos.282 to 287/Chny/2024 (AYs 2014 2014-15 to 2019-20) CO Nos.20 to 25/Chny/2024 (AYs 2014 2014-15 to 2019-20) M/s. Alba Industries Ltd. M/s. Alba Industries Ltd. :: 25 :: 973 & CIT Vs. Abhishek Corporation (158 CTR 374) CIT Vs. Abhishek Corporation (158 CTR 374) CIT Vs. Abhishek Corporation (158 CTR 374) and Hon’ble Bombay High Court in the case of igh Court in the case of CIT Vs Sumer Builders (ITA No. CIT Vs Sumer Builders (ITA No. 1849 of 2011). In all these decisions, it was held that the entire . In all these decisions, it was held that the entire . In a…

ASSISTANT COMMISSIONER OF INCOME-TAX, MADURAI vs. ALBA INDUSTRIES LIMITED, CHENNAI

ITA 283/CHNY/2024[2015-16]Status: DisposedITAT Chennai26 Nov 2024AY 2015-16

Bench: Shri Aby T. Varkey & Shri Jagadish

For Appellant: Mr. S. Sridhar, AdvocateFor Respondent: Mr. R. Clement Ramesh –

Section 132Section 132(4)Section 143(3)Section 153A

…TMI PCIT Vs. Anupam Organiser (2020) (9) TMI ITA Nos.282 to 287/Chny/2024 (AYs 2014 2014-15 to 2019-20) CO Nos.20 to 25/Chny/2024 (AYs 2014 2014-15 to 2019-20) M/s. Alba Industries Ltd. M/s. Alba Industries Ltd. :: 25 :: 973 & CIT Vs. Abhishek Corporation (158 CTR 374) CIT Vs. Abhishek Corporation (158 CTR 374) CIT Vs. Abhishek Corporation (158 CTR 374) and Hon’ble Bombay High Court in the case of igh Court in the case of CIT Vs Sumer Builders (ITA No. CIT Vs Sumer Builders (ITA No. 1849 of 2011). In all these decisions, it was held that the entire . In all these decisions, it was held that the entire . In a…

ASSISTANT COMMISSIONER OF INCOME-TAX, MADURAI vs. BEACH MINERALS SANDS COMPANY, TIRUNELVELI

ITA 14/CHNY/2024[2014-15]Status: DisposedITAT Chennai26 Nov 2024AY 2014-15

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita Nos.1473 To 1475/Chny/2023 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & Cross-Objection Nos. 28 To 30/Chny/2024 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & आयकर अपील सं./Ita Nos.13 & 14/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15 & Cross-Objection Nos. 26 & 27/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15

For Appellant: Mr. S. Sridhar, AdvocateFor Respondent: Mr. R. Clement Ramesh –

Section 132Section 132(4)Section 143(3)Section 153A

…vestment in acquiring the goods which have been found subject of undisclosed sales." 21. We find that similar view has been taken by the Hon’ble Gujarat High Court in the cases of PCIT Vs. Anupam Organiser (2020) (9) TMI 973 & CIT Vs. Abhishek Corporation (158 CTR 374) and Hon’ble Bombay High Court in the case of CIT Vs Sumer Builders (ITA No. 1849 of 2011). In all these decisions, it was held that the entire sale proceeds cannot be brought to tax but only the profit element embedded therein. ITA Nos.1473 to 1475/Chny/2023 (AYs 2015-16 to 2017-18) CO Nos.28 to 30/Chny/2024 (AYs 2015-16 to 2017-18) ITA Nos.1…

ASSISTANT COMMISSIONER OF INCOME-TAX, MADURAI vs. BEACH MINERALS SANDS COMPANY, TIRUNELVELI

ITA 13/CHNY/2024[2013-14]Status: DisposedITAT Chennai26 Nov 2024AY 2013-14

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita Nos.1473 To 1475/Chny/2023 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & Cross-Objection Nos. 28 To 30/Chny/2024 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & आयकर अपील सं./Ita Nos.13 & 14/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15 & Cross-Objection Nos. 26 & 27/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15

For Appellant: Mr. S. Sridhar, AdvocateFor Respondent: Mr. R. Clement Ramesh –

Section 132Section 132(4)Section 143(3)Section 153A

…vestment in acquiring the goods which have been found subject of undisclosed sales." 21. We find that similar view has been taken by the Hon’ble Gujarat High Court in the cases of PCIT Vs. Anupam Organiser (2020) (9) TMI 973 & CIT Vs. Abhishek Corporation (158 CTR 374) and Hon’ble Bombay High Court in the case of CIT Vs Sumer Builders (ITA No. 1849 of 2011). In all these decisions, it was held that the entire sale proceeds cannot be brought to tax but only the profit element embedded therein. ITA Nos.1473 to 1475/Chny/2023 (AYs 2015-16 to 2017-18) CO Nos.28 to 30/Chny/2024 (AYs 2015-16 to 2017-18) ITA Nos.1…

ASSISTANT COMMISSIONER OF INCOME-TAX, MADURAI vs. BEACH MINERALS SANDS COMPANY, TIRUNELVELI

ITA 1474/CHNY/2023[2016-17]Status: DisposedITAT Chennai26 Nov 2024AY 2016-17

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita Nos.1473 To 1475/Chny/2023 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & Cross-Objection Nos. 28 To 30/Chny/2024 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & आयकर अपील सं./Ita Nos.13 & 14/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15 & Cross-Objection Nos. 26 & 27/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15

For Appellant: Mr. S. Sridhar, AdvocateFor Respondent: Mr. R. Clement Ramesh –

Section 132Section 132(4)Section 143(3)Section 153A

…vestment in acquiring the goods which have been found subject of undisclosed sales." 21. We find that similar view has been taken by the Hon’ble Gujarat High Court in the cases of PCIT Vs. Anupam Organiser (2020) (9) TMI 973 & CIT Vs. Abhishek Corporation (158 CTR 374) and Hon’ble Bombay High Court in the case of CIT Vs Sumer Builders (ITA No. 1849 of 2011). In all these decisions, it was held that the entire sale proceeds cannot be brought to tax but only the profit element embedded therein. ITA Nos.1473 to 1475/Chny/2023 (AYs 2015-16 to 2017-18) CO Nos.28 to 30/Chny/2024 (AYs 2015-16 to 2017-18) ITA Nos.1…

ASSISTANT COMMISSIONER OF INCOME-TAX, MADURAI vs. BEACH MINERALS SANDS COMPANY, TIRUNELVELI

ITA 1473/CHNY/2023[2015-16]Status: DisposedITAT Chennai26 Nov 2024AY 2015-16

Bench: Shri Aby T. Varkey & Shri Jagadishआयकर अपील सं./Ita Nos.1473 To 1475/Chny/2023 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & Cross-Objection Nos. 28 To 30/Chny/2024 िनधा"रणवष"/Assessment Years: 2015-16 To 2017-18 & आयकर अपील सं./Ita Nos.13 & 14/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15 & Cross-Objection Nos. 26 & 27/Chny/2024 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15

For Appellant: Mr. S. Sridhar, AdvocateFor Respondent: Mr. R. Clement Ramesh –

Section 132Section 132(4)Section 143(3)Section 153A

…vestment in acquiring the goods which have been found subject of undisclosed sales." 21. We find that similar view has been taken by the Hon’ble Gujarat High Court in the cases of PCIT Vs. Anupam Organiser (2020) (9) TMI 973 & CIT Vs. Abhishek Corporation (158 CTR 374) and Hon’ble Bombay High Court in the case of CIT Vs Sumer Builders (ITA No. 1849 of 2011). In all these decisions, it was held that the entire sale proceeds cannot be brought to tax but only the profit element embedded therein. ITA Nos.1473 to 1475/Chny/2023 (AYs 2015-16 to 2017-18) CO Nos.28 to 30/Chny/2024 (AYs 2015-16 to 2017-18) ITA Nos.1…

DCIT-CC-4(2), MUMBAI, MUMBAI vs. RUBBERWALA REALTY, MUMBAI

In the result, all the appeals of the assessee for AYs 2015-16 to

ITA 3531/MUM/2023[2018-19]Status: DisposedITAT Mumbai07 Jun 2024AY 2018-19

Bench: We Advert To The Grounds Taken In The Cross Appeals, It Would First Be Relevant To Cull Out The Basic Facts Of The Case & Effect Of Law In Brief In Respect Of Certain Ays. Search U/S 132 Of The Income Tax Act, 1961 (Hereinafter Referred To As "The Act") Was Conducted Against The Rubberwala Group, On 17-03-2021 Thereby Triggering Section 153A Of The Act. Prior To The Date Of Search, The Income-Tax Assessments For Ays 2015-16 To 2019-20 Were Either Completed U/S 143(1)/143(3) Of The Act And/Or The Time Limit For Issue Of Notice U/S 143(2) Of The Act Had Expired. Accordingly, The Income-Tax 3

For Respondent: Shri Sanyogita Nagpal, CIT

Section 132Section 133(6)Section 143(1)Section 143(2)Section 153ASection 68Section 69C

…the amount of on-monies and thus, what could be brought to tax was the profit embedded in such receipts and not the entire receipts. Similar view is noted to have been expressed by the Hon'ble High Court of Gujarat in the case of CIT Vs. Abhishek Corporation (158 CTR 374). 5.21 We further noted that another coordinate Bench of this Tribunal at Mumbai in the case of ACIT Vs. Guruprena Enterprises (ITA Nos. 255 to 257, 544 & 545/Mum/2010 and 4836/Mum/2009) had observed as under: "Even though it is established from seized documents that assessee was receiving premium/on-money on booking of flats belonging to third p…

DCIT-CC-4(2), MUMBAI vs. RUBBERWALA HOUSING AND INFRASTRUCTURE LIMITED, MUMBAI

In the result, all the appeals of the assessee stands allowed and

ITA 3508/MUM/2023[2015-16]Status: DisposedITAT Mumbai07 Jun 2024AY 2015-16

Bench: Shri Br Baskaran, Am & Shri Aby T Varkey, Jm आयकर अपील सं/ I.T. A. No. 3448/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2015-16) & आयकर अपील सं/ I.T. A. No. 3447/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2016-17) & आयकर अपील सं/ I.T. A. No. 3446/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2017-18) & आयकर अपील सं/ I.T. A. No. 3445/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2018-19) & आयकर अपील सं/ I.T. A. No. 3444/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2019-20) & आयकर अपील सं/ I.T. A. No. 3459/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2020-21) & आयकर अपील सं/ I.T. A. No. 3432/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2021-22) Rubberwala Housing & Infrastructure Ltd. Ground Floor, Rubberwala House, Dr. A Nair Road, Agripada, Mumbai-400011. बनाम / Vs. Dcit, Central Circle-4(2) 19Th Floor, Air India Building, Nariman Point, Mumbai-400021. आयकर अपील सं/ I.T. A. No. 3508/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2015-16) & आयकर अपील सं/ I.T. A. No. 3505/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2016-17) & आयकर अपील सं/ I.T. A. No. 3504/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2017-18) & आयकर अपील सं/ I.T. A. No. 3549/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2018-19) & आयकर अपील सं/ I.T. A. No. 3503/Mum/2023

For Appellant: Shri Mani Jain FCAFor Respondent: Smt Sanyogita Nagpal

Section 132Section 143(1)Section 143(2)Section 153ASection 68Section 69C

…he amount of on- monies and thus, what could be brought to tax was the profit embedded in such receipts and not the entire receipts. Similar view is noted to have been expressed by the Hon'ble High Court of Gujarat in the case of CIT Vs. Abhishek Corporation (158 CTR 374). 5.21 We further noted that another coordinate Bench of this Tribunal at Mumbai in the case of ACIT Vs. Guruprena Enterprises (ITA Nos. 255 to 257, 544 & 545/Mum/2010 and 4836/Mum/2009) had observed as under: "Even though it is established from seized documents that assessee was receiving premium/on-money on booking of flats belonging to third p…

RUBBERWALA HOUSING AND INFRASTRUCTURE LIMITED,MUMBAI vs. DCIT CC-4(2), MUMBAI

In the result, all the appeals of the assessee stands allowed and

ITA 3448/MUM/2023[2015-16]Status: DisposedITAT Mumbai07 Jun 2024AY 2015-16

Bench: Shri Br Baskaran, Am & Shri Aby T Varkey, Jm आयकर अपील सं/ I.T. A. No. 3448/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2015-16) & आयकर अपील सं/ I.T. A. No. 3447/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2016-17) & आयकर अपील सं/ I.T. A. No. 3446/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2017-18) & आयकर अपील सं/ I.T. A. No. 3445/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2018-19) & आयकर अपील सं/ I.T. A. No. 3444/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2019-20) & आयकर अपील सं/ I.T. A. No. 3459/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2020-21) & आयकर अपील सं/ I.T. A. No. 3432/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2021-22) Rubberwala Housing & Infrastructure Ltd. Ground Floor, Rubberwala House, Dr. A Nair Road, Agripada, Mumbai-400011. बनाम / Vs. Dcit, Central Circle-4(2) 19Th Floor, Air India Building, Nariman Point, Mumbai-400021. आयकर अपील सं/ I.T. A. No. 3508/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2015-16) & आयकर अपील सं/ I.T. A. No. 3505/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2016-17) & आयकर अपील सं/ I.T. A. No. 3504/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2017-18) & आयकर अपील सं/ I.T. A. No. 3549/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2018-19) & आयकर अपील सं/ I.T. A. No. 3503/Mum/2023 2

For Appellant: Shri Mani Jain FCAFor Respondent: Smt Sanyogita Nagpa

Section 132Section 143(1)Section 143(2)Section 153ASection 68Section 69ASection 69C

…he amount of on- monies and thus, what could be brought to tax was the profit embedded in such receipts and not the entire receipts. Similar view is noted to have been expressed by the Hon'ble High Court of Gujarat in the case of CIT Vs. Abhishek Corporation (158 CTR 374). 64 ITA Nos.3448 & Others/Mum/2023 Α.Υ. 2015-16 to 2021-22 Rubberwala Housing & Infrastructure Ltd 5.21 We further noted that another coordinate Bench of this Tribunal at Mumbai in the case of ACIT Vs. Guruprena Enterprises (ITA Nos. 255 to 257, 544 & 545/Mum/2010_and 4836/Mum/2009) had observed as under: "Even though it is established from seiz…

DY. COMMISSIONER OF INCOME TAX, CC-4, SURAT, SURAT vs. M/S. SHREE KUBERJI ASSOCIATES, SURAT

In the result, the ground No

ITA 155/SRT/2023[2020-21]Status: DisposedITAT Surat22 Dec 2023AY 2020-21

Bench: Shri Pawan Singh & Dr Arjun Lal Saini(Hearing In Physical Court) आ. (खो और ज).सं./It(Ss)A No.28/Srt/2023 (Ay 2019-20) Shree Kuberji Associates, Assistant Commissioner Of 2Nd Floor, Shree Kuberji Income Tax, Central Circle-4, Vs Corporate House, Khana Kuva Surat, Aayakar Bhawan, Road, Begumpura, Surat- Majura Gate, Sura-395001 395002 Pan No. Acqfs 0423 D अपीलाथ"/Appellant ""थ" /Respondent आ.(खो और ज).सं./It(Ss)A No.29/Srt/2023 (Ay 2020-21) Shree Kuberji Associates Assistant Commissioner Of 2Nd Floor, Shree Kuberji Income Tax, Central Circle-4, Corporate House, Khana Kuva Surat, Aayakar Bhawan, Majura Gate, Sura-395001 Road, Begumpura, Surat- Vs 395002 Pan No. Acqfs 0423 D अपीलाथ"/Appellant ""थ" /Respondent आ.अ.सं./Ita No.155/Srt/2023 (Ay 2020-21) Dy.Commissioner Of Income- M/S Shree Kuberji Associates Tax, Central Circle-4, Surat, 2Nd Floor, Shree Kuberji Vs Room No.508, 5Th Floor, Corporate House, Khana Kuva Aayakar Bhawan, Majura Gate, Road, Begumpura, Surat- Surat-395001 395002 Pan No. Acqfs 0423 D अपीलाथ"/Appellant ""थ" /Respondent आ. (खो और ज).सं./It(Ss)A No.30/Srt/2023 (Ay 2019-20) Shree Kuberji Leisure & Assistant Commissioner Of Infraspace Llp, Income Tax, Central Circle-4, Vs Plot No.2 H/28/29, Shree Surat, Aayakar Bhawan, Kuberji Corporate House, Majura Gate, Sura-395001 Khana Kuva Road, Begumpura, Surat-395002 Pan No. Adcfs 0636 D अपीलाथ"/Appellant ""थ" /Respondent आ.(खो और ज).सं./It(Ss)A No.34/Srt/2023 (Ay 2019-20) Dy.Commissioner Of Income- M/S Shree Kuberji Leisure & Tax, Central Circle-4, Surat, Infraspace Llp, Room No.508, 5Th Floor, Plot No.2.H/28/29, Shree

Section 143(3)Section 254(1)Section 69A

…ter proceeded to estimate the profit on the component of ‘on money’ by relying on the decision of Hon’ble jurisdictional High Court in the case of Naresh B Agarwal (HUF) & Magatulal Harlalka (HUF) order dated 03.05.2022 and CIT vs. Abhishek Corporation (2000) 158 CTR 374 (Guj) and in the case of Kishore Mohan Telwala vs. ACIT (1999) 63 TTJ (Ahd. Trib.) 651 dated 02.09.1998, wherein the net profit of on-money was estimated from 8% to 20% thereby the Assessing Officer estimated 30% of profit from on-money as net profit of the assessee. The assessing officer thereby working out profit of Rs.52.59 crores. The Assessi…

SHRI HIRALAL D. THAKKAR,AHMEDABAD vs. THE PR. CIT (CENTRAL), , AHMEDABAD

ITA 1073/AHD/2018[2009-10]Status: DisposedITAT Ahmedabad07 Jul 2022AY 2009-10

Bench: S/Shri Pramod M. Jagtap & T.R. Senthil Kumar

For Appellant: Shri Divyang Shah, ARFor Respondent: Shri Vijay Kumar Jaiswal, CIT-DR

Section 143Section 143(3)Section 153ASection 263Section 263(1)

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ ‘A’ अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, AHMEDABAD (Conducted Through Virtual Court) ] ] BEFORE S/SHRI PRAMOD M. JAGTAP, VICE PRESIDENT AND T.R. SENTHIL KUMAR, JUDICIAL MEMBER ITA No.1072 & 1073/Ahd/2018 Assessment Year :2008-09 & 2009-10 AND Assessment Year : 2010-11 Shri Hiralal D. Thakkar Pr.CIT (Central) Satkar Guest House Vs Ahmedabad. Swaminarayan Kutir S.G. Highway, Opp: YMCA Club Nr.Nirma Firm Ahmedabad अपीलाथ"/ (Appellant) "" यथ"/(Respondent) Assessee by : Shri Divyang Shah, AR Revenue by : Shri Vijay Kumar Jaiswal, CIT-DR सुनवाई क" तार"ख/Date o…

SHRI HIRALAL D. THAKKAR,AHMEDABAD vs. THE PR. CIT (CENTRAL), , AHMEDABAD

ITA 1072/AHD/2018[2008-09]Status: DisposedITAT Ahmedabad07 Jul 2022AY 2008-09

Bench: S/Shri Pramod M. Jagtap & T.R. Senthil Kumar

For Appellant: Shri Divyang Shah, ARFor Respondent: Shri Vijay Kumar Jaiswal, CIT-DR

Section 143Section 143(3)Section 153ASection 263Section 263(1)

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ ‘A’ अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, AHMEDABAD (Conducted Through Virtual Court) ] ] BEFORE S/SHRI PRAMOD M. JAGTAP, VICE PRESIDENT AND T.R. SENTHIL KUMAR, JUDICIAL MEMBER ITA No.1072 & 1073/Ahd/2018 Assessment Year :2008-09 & 2009-10 AND Assessment Year : 2010-11 Shri Hiralal D. Thakkar Pr.CIT (Central) Satkar Guest House Vs Ahmedabad. Swaminarayan Kutir S.G. Highway, Opp: YMCA Club Nr.Nirma Firm Ahmedabad अपीलाथ"/ (Appellant) "" यथ"/(Respondent) Assessee by : Shri Divyang Shah, AR Revenue by : Shri Vijay Kumar Jaiswal, CIT-DR सुनवाई क" तार"ख/Date o…

M/S SHRI JEEN MATA BUILDCON PVT. LTD.,JAIPUR vs. INCOME TAX OFFICER, WARD-4-2, JAIPUR

In the result, the appeal of the assessee is allowed

ITA 397/JPR/2019[2013-14]Status: DisposedITAT Jaipur08 Mar 2022AY 2013-14

Bench: Us Are As Under:-

For Appellant: Mahendra Gargieya (Adv.)For Respondent: Runi Pal (Addl. CIT)

Section 133(6)Section 143(1)Section 234ASection 244A

…TW 155 (JP) • Ghewarchand vs. ITO- XXI TW 571 • Siddheshwari Cotton Mills P. Ltd. vs. CIT 117 ITR 953 at 957 (Call) • ACIT vs. M/s Mount Malt Bru Ltd 34 TW 246 (JP) • CIT vs. President Industries (2002) 258 ITR 654 (Guj.) • CIT vs. Abhishek Corporation (2000) 158 CTR 374 (Guj.) • ITO vs. Star Consortium 127 taxman 681 (Kol) (2021), (DPB?) 9. Before us, the Revenue has relied upon two case laws as under:- • Rah Jajharia E to E JV [2017] ITA No. 1848/Kol/2017 of the ITAT, Kolkata dated 21.12.2017. 6 M/s Shri Jeen Mata Buildcon Pvt. Ltd. • Surendra S. Gupta [2018] 93 taxmann. com 456 (Mumbai Trib.) Wherein the 1st…

AMRUT SAROVAR,SURAT vs. PR. COMMISIONER INCOME TAX(CENTRAL), SURAT

In the result the grounds of appeal raised by the assessee in all three assessment years are allowed

ITA 94/SRT/2021[2016-17]Status: DisposedITAT Surat21 Oct 2021AY 2016-17

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 133ASection 142(1)Section 143(3)Section 153CSection 254(1)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND Dr. ARJUN LAL SAINI, ACCOUNTANT MEMBER ITA Nos.92, 93 & 94/SRT/2021 A.Y: 2014-15 to 2016-17 (Hearing in Virtual Court) M/s.Amrut Sarovar, The Principal Commissioner Block No. 514-515, of Income Tax – Central, Vs. Opposite Girnar Hotel, Surat. At & PO Kather, Taluka-Kamrej, Surat. PAN: ABGFA 2065 C Applicant /assessee Respondent/ revenue Assessee by Shri Rasesh Shah – CA Revenue by Shri Ritesh Mishra – CIT-DR Date of hearing 15.09.2021 Date of pronouncement 21.10.2021 Order under section 254(1) of Income Tax Act…

AMRUT SAROVAR,SURAT vs. PR. COMMISIONER INCOME TAX(CENTRAL), SURAT

In the result the grounds of appeal raised by the assessee in all three assessment years are allowed

ITA 93/SRT/2021[2015-16]Status: DisposedITAT Surat21 Oct 2021AY 2015-16

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 133ASection 142(1)Section 143(3)Section 153CSection 254(1)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND Dr. ARJUN LAL SAINI, ACCOUNTANT MEMBER ITA Nos.92, 93 & 94/SRT/2021 A.Y: 2014-15 to 2016-17 (Hearing in Virtual Court) M/s.Amrut Sarovar, The Principal Commissioner Block No. 514-515, of Income Tax – Central, Vs. Opposite Girnar Hotel, Surat. At & PO Kather, Taluka-Kamrej, Surat. PAN: ABGFA 2065 C Applicant /assessee Respondent/ revenue Assessee by Shri Rasesh Shah – CA Revenue by Shri Ritesh Mishra – CIT-DR Date of hearing 15.09.2021 Date of pronouncement 21.10.2021 Order under section 254(1) of Income Tax Act…

AMRUT SAROVAR,SURAT vs. PR. COMMISIONER INCOME TAX(CENTRAL), SURAT

In the result the grounds of appeal raised by the assessee in all three assessment years are allowed

ITA 92/SRT/2021[2014-15]Status: DisposedITAT Surat21 Oct 2021AY 2014-15

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 133ASection 142(1)Section 143(3)Section 153CSection 254(1)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND Dr. ARJUN LAL SAINI, ACCOUNTANT MEMBER ITA Nos.92, 93 & 94/SRT/2021 A.Y: 2014-15 to 2016-17 (Hearing in Virtual Court) M/s.Amrut Sarovar, The Principal Commissioner Block No. 514-515, of Income Tax – Central, Vs. Opposite Girnar Hotel, Surat. At & PO Kather, Taluka-Kamrej, Surat. PAN: ABGFA 2065 C Applicant /assessee Respondent/ revenue Assessee by Shri Rasesh Shah – CA Revenue by Shri Ritesh Mishra – CIT-DR Date of hearing 15.09.2021 Date of pronouncement 21.10.2021 Order under section 254(1) of Income Tax Act…

M/S EKTA HOUSING PVT. LTD.,MUMBAI vs. DY. CIT CENTRAL CIRCLE-6(2), MUMBAI

The appeal of the revenue is dismissed

ITA 1732/MUM/2019[2013-14]Status: DisposedITAT Mumbai24 May 2021AY 2013-14

Bench: Shri S.Rifaur Rahman () & Shri Ravish Sood ()

…, what could be brought to tax was the profit embedded in such receipts and not the entire receipts themselves. Support was also alsodrawn by the ld. A.R from the judgment of the Hon‟ble High Court of Gujarat in the case of CIT Vs. Abhishek Corporation (2000) 158 CTR 374 (Guj). Further, reliance was placed by the ld. A.R on the order of the ITAT, Mumbai in the case of Guruprerna Enterprises Vs. ACIT (2011) 30 CCH 17 (Mum). It was, thus, submitted by the ld. A.R that the CIT(A) was principally correct in restricting the addition to the extent of the income Page 12 element embedded in the on-money that was receiv…

CIT v. Abhishek Corporation

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