CIT v. Ashaland Corporation

Dy. Commissioner of Income Tax, Central Cir.-2, Surat vs. Shri Jayantibhai Virjibhai Babariya, Surat

In the result, appeals filed by the Revenue (in ITA nos

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No.110/Srt/2021 ("नधा"रणवष" / Assessment Year: (2016-17) (Physical Court Hearing) Jayantibhai Virjibhai Babariya, Vs. The Acit, Central Circle-2, K-801, River View Heights, Surat. Peddar Road, Mota Varachha, Surat-394101 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Afhpb0820M (Assessee) (Respondent) आयकरअपीलसं./Ita No.195/Srt/2021 ("नधा"रणवष" / Assessment Year: (2017-18) The Dcit, Central Circle-2, Vs. Jayantibhai Virjibhai Babariya, K-801, River View Heights, Surat. Peddar Road, Mota Varachha, Surat-394101 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Afhpb0820M (Assessee) (Respondent) Shri Ashwin K. Parekh, Ar Assessee By Respondent By Shri Ritesh Mishra, Cit-Dr Date Of Hearing 07/10/2022 Date Of Pronouncement 22/11/2022

…ed on 29.12.2018. These facts prove that the transfer of the land under consideration has not taken place, as sale deed has not been registered and as per the binding judgment of Hon'ble High Court of Gujarat in the case of CIT vs. Ashaland Corporation (1992) 133 ITR 55 (Guj.) in which it has been held that the transfer of the immovable property take place on the date, sale deed is registered. The assessee’s case is further found covered by the judgment of Hon'ble Supreme Court of India in the case Alapati Venkatararniah vs. CIT (1965) 57 ITR 185 (SC), in which it has been held that title to immovable assets coul…

Shri Jayantibhai Virjibhai Babariya, Surat vs. Dy. Commissioner of Income Tax, Central Cir., 2, Surat

In the result, appeals filed by the Revenue (in ITA nos

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No.110/Srt/2021 ("नधा"रणवष" / Assessment Year: (2016-17) (Physical Court Hearing) Jayantibhai Virjibhai Babariya, Vs. The Acit, Central Circle-2, K-801, River View Heights, Surat. Peddar Road, Mota Varachha, Surat-394101 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Afhpb0820M (Assessee) (Respondent) आयकरअपीलसं./Ita No.195/Srt/2021 ("नधा"रणवष" / Assessment Year: (2017-18) The Dcit, Central Circle-2, Vs. Jayantibhai Virjibhai Babariya, K-801, River View Heights, Surat. Peddar Road, Mota Varachha, Surat-394101 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Afhpb0820M (Assessee) (Respondent) Shri Ashwin K. Parekh, Ar Assessee By Respondent By Shri Ritesh Mishra, Cit-Dr Date Of Hearing 07/10/2022 Date Of Pronouncement 22/11/2022

…ed on 29.12.2018. These facts prove that the transfer of the land under consideration has not taken place, as sale deed has not been registered and as per the binding judgment of Hon'ble High Court of Gujarat in the case of CIT vs. Ashaland Corporation (1992) 133 ITR 55 (Guj.) in which it has been held that the transfer of the immovable property take place on the date, sale deed is registered. The assessee’s case is further found covered by the judgment of Hon'ble Supreme Court of India in the case Alapati Venkatararniah vs. CIT (1965) 57 ITR 185 (SC), in which it has been held that title to immovable assets coul…

Dy. Commissioner of Income Tax, Central Cir.-2, Surat vs. Shri Prabodhchabndra Jayantilal Patel, Surat

In the result, appeals filed by the Revenue ( in ITA nos

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita Nos.134 To 137/Srt/2021 ("नधा"रणवष" / Assessment Year: (2017-18) (Virtual Court Hearing) The Dcit, Central Circle-2, Vs. Shri Pravinchandra Dahyabhai Umriger, Surat. Bungalow No.01, Opp. Talao Street, Near Govindji Park, Umra, Surat-395007(Guj) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabpu5216D The Dcit, Central Circle-2, Vs. Shri Vasantrai Ambaram Modi, Surat. 504, D/1, Subham Residency, Pal, Surat- 395005. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acrpm0852D The Dcit, Central Circle-2, Vs. Shri Shankar Mulchand Uttamani, Surat. 1/3210-11, New Textile Market, Ring Road, Surat-395002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aahpu9028R The Dcit, Central Circle-2, Vs. Shri Prabodhchandra Jayantilal Patel, Surat. 297, Hari Narar-3, Opp. Brc Gate, Udhna, Surat-394210. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Afvpp7466F (Assessee) (Respondent) Assessee By: Shri Rasesh Shah, Ca Revenue By: Shri Ritesh Mishra, Cit(Dr) सुनवाईक"तार"ख/ Date Of Hearing : 02/03/2022 घोषणाक"तार"ख/Date Of Pronouncement : 10/05/2022 आदेश / O R D E R Per Dr. A. L. Saini: Captioned Four Appeals Filed By The Revenue, Pertaining To Assessment Year (Ay) 2017-18, Are Directed Against The Separate Orders Passed By The Learned Commissioner Of Income Tax (Appeals), Which In Turn Arise Out Of Separate Assessment Orders Passed By The Assessing Officer Under Section 143(3) Of The Income Tax Act, 1961 [Hereinafter Referred To As The “Act”].

…ed on 29.12.2018. These facts prove that the transfer of the land under consideration has not taken place, as sale deed has not been registered and as per the binding judgment of Hon'ble High Court of Gujarat in the case of CIT vs. Ashaland Corporation (1992) 133 ITR 55 (Guj.) in which it has been held that the transfer of the immovable property take place on the date, sale deed is registered. The assessee’s case is further found covered by the judgment of Hon'ble Supreme Court of India in the case Alapati Venkatararniah vs. CIT (1965) 57 ITR 185 (SC), in which it has been held that title to immovable assets coul…

Dy. Commissioner of Income Tax, Central Cir.-2, Surat vs. Shri Shankar Mulchand Uttamani, Surat

In the result, appeals filed by the Revenue ( in ITA nos

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita Nos.134 To 137/Srt/2021 ("नधा"रणवष" / Assessment Year: (2017-18) (Virtual Court Hearing) The Dcit, Central Circle-2, Vs. Shri Pravinchandra Dahyabhai Umriger, Surat. Bungalow No.01, Opp. Talao Street, Near Govindji Park, Umra, Surat-395007(Guj) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabpu5216D The Dcit, Central Circle-2, Vs. Shri Vasantrai Ambaram Modi, Surat. 504, D/1, Subham Residency, Pal, Surat- 395005. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acrpm0852D The Dcit, Central Circle-2, Vs. Shri Shankar Mulchand Uttamani, Surat. 1/3210-11, New Textile Market, Ring Road, Surat-395002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aahpu9028R The Dcit, Central Circle-2, Vs. Shri Prabodhchandra Jayantilal Patel, Surat. 297, Hari Narar-3, Opp. Brc Gate, Udhna, Surat-394210. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Afvpp7466F (Assessee) (Respondent) Assessee By: Shri Rasesh Shah, Ca Revenue By: Shri Ritesh Mishra, Cit(Dr) सुनवाईक"तार"ख/ Date Of Hearing : 02/03/2022 घोषणाक"तार"ख/Date Of Pronouncement : 10/05/2022 आदेश / O R D E R Per Dr. A. L. Saini: Captioned Four Appeals Filed By The Revenue, Pertaining To Assessment Year (Ay) 2017-18, Are Directed Against The Separate Orders Passed By The Learned Commissioner Of Income Tax (Appeals), Which In Turn Arise Out Of Separate Assessment Orders Passed By The Assessing Officer Under Section 143(3) Of The Income Tax Act, 1961 [Hereinafter Referred To As The “Act”].

…ed on 29.12.2018. These facts prove that the transfer of the land under consideration has not taken place, as sale deed has not been registered and as per the binding judgment of Hon'ble High Court of Gujarat in the case of CIT vs. Ashaland Corporation (1992) 133 ITR 55 (Guj.) in which it has been held that the transfer of the immovable property take place on the date, sale deed is registered. The assessee’s case is further found covered by the judgment of Hon'ble Supreme Court of India in the case Alapati Venkatararniah vs. CIT (1965) 57 ITR 185 (SC), in which it has been held that title to immovable assets coul…

Dy. Commissioner of Income Tax, Central Cir.-2, Surat vs. Shri Vasantrai Ambaram Modi, Surat

In the result, appeals filed by the Revenue ( in ITA nos

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita Nos.134 To 137/Srt/2021 ("नधा"रणवष" / Assessment Year: (2017-18) (Virtual Court Hearing) The Dcit, Central Circle-2, Vs. Shri Pravinchandra Dahyabhai Umriger, Surat. Bungalow No.01, Opp. Talao Street, Near Govindji Park, Umra, Surat-395007(Guj) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabpu5216D The Dcit, Central Circle-2, Vs. Shri Vasantrai Ambaram Modi, Surat. 504, D/1, Subham Residency, Pal, Surat- 395005. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acrpm0852D The Dcit, Central Circle-2, Vs. Shri Shankar Mulchand Uttamani, Surat. 1/3210-11, New Textile Market, Ring Road, Surat-395002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aahpu9028R The Dcit, Central Circle-2, Vs. Shri Prabodhchandra Jayantilal Patel, Surat. 297, Hari Narar-3, Opp. Brc Gate, Udhna, Surat-394210. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Afvpp7466F (Assessee) (Respondent) Assessee By: Shri Rasesh Shah, Ca Revenue By: Shri Ritesh Mishra, Cit(Dr) सुनवाईक"तार"ख/ Date Of Hearing : 02/03/2022 घोषणाक"तार"ख/Date Of Pronouncement : 10/05/2022 आदेश / O R D E R Per Dr. A. L. Saini: Captioned Four Appeals Filed By The Revenue, Pertaining To Assessment Year (Ay) 2017-18, Are Directed Against The Separate Orders Passed By The Learned Commissioner Of Income Tax (Appeals), Which In Turn Arise Out Of Separate Assessment Orders Passed By The Assessing Officer Under Section 143(3) Of The Income Tax Act, 1961 [Hereinafter Referred To As The “Act”].

…ed on 29.12.2018. These facts prove that the transfer of the land under consideration has not taken place, as sale deed has not been registered and as per the binding judgment of Hon'ble High Court of Gujarat in the case of CIT vs. Ashaland Corporation (1992) 133 ITR 55 (Guj.) in which it has been held that the transfer of the immovable property take place on the date, sale deed is registered. The assessee’s case is further found covered by the judgment of Hon'ble Supreme Court of India in the case Alapati Venkatararniah vs. CIT (1965) 57 ITR 185 (SC), in which it has been held that title to immovable assets coul…

Dy. Commissioner of Income Tax, Central Cir., 2, Surat vs. Shri Pravinchandra Dahyabhai Umriger, Surat

In the result, appeals filed by the Revenue ( in ITA nos

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita Nos.134 To 137/Srt/2021 ("नधा"रणवष" / Assessment Year: (2017-18) (Virtual Court Hearing) The Dcit, Central Circle-2, Vs. Shri Pravinchandra Dahyabhai Umriger, Surat. Bungalow No.01, Opp. Talao Street, Near Govindji Park, Umra, Surat-395007(Guj) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabpu5216D The Dcit, Central Circle-2, Vs. Shri Vasantrai Ambaram Modi, Surat. 504, D/1, Subham Residency, Pal, Surat- 395005. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acrpm0852D The Dcit, Central Circle-2, Vs. Shri Shankar Mulchand Uttamani, Surat. 1/3210-11, New Textile Market, Ring Road, Surat-395002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aahpu9028R The Dcit, Central Circle-2, Vs. Shri Prabodhchandra Jayantilal Patel, Surat. 297, Hari Narar-3, Opp. Brc Gate, Udhna, Surat-394210. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Afvpp7466F (Assessee) (Respondent) Assessee By: Shri Rasesh Shah, Ca Revenue By: Shri Ritesh Mishra, Cit(Dr) सुनवाईक"तार"ख/ Date Of Hearing : 02/03/2022 घोषणाक"तार"ख/Date Of Pronouncement : 10/05/2022 आदेश / O R D E R Per Dr. A. L. Saini: Captioned Four Appeals Filed By The Revenue, Pertaining To Assessment Year (Ay) 2017-18, Are Directed Against The Separate Orders Passed By The Learned Commissioner Of Income Tax (Appeals), Which In Turn Arise Out Of Separate Assessment Orders Passed By The Assessing Officer Under Section 143(3) Of The Income Tax Act, 1961 [Hereinafter Referred To As The “Act”].

…ed on 29.12.2018. These facts prove that the transfer of the land under consideration has not taken place, as sale deed has not been registered and as per the binding judgment of Hon'ble High Court of Gujarat in the case of CIT vs. Ashaland Corporation (1992) 133 ITR 55 (Guj.) in which it has been held that the transfer of the immovable property take place on the date, sale deed is registered. The assessee’s case is further found covered by the judgment of Hon'ble Supreme Court of India in the case Alapati Venkatararniah vs. CIT (1965) 57 ITR 185 (SC), in which it has been held that title to immovable assets coul…

M/S. Raj Enterprise, Surat vs. The Dy. Commissioner of Income Tax-6, Surat

Bench: Shri Pawan Singh & Dr Arjun Lal Saini

…t. During the year, the assessee sold only 86 plots by executing the sale deed in favour of purchaser/customer and presented for registration before registering authority. As per the decision of Jurisdictional High Court in CIT Vs Asha Land Corporation (1982) 133 ITR 55 (GUJ) and CIT Vs Shah Doshi & Company (1982) 133 ITR 23 it was held that in case of real-estate dealer, the income from sale of the real-estate, become chargeable in the year in which the concerned real-estate dealer executes the sale deed in favours of the purchaser and when such sale deed is presented for registration. During the assessment proc…

M/S. Raj Enterprise, Surat vs. The Dy. Commissioner of Income Tax-6, Surat

Bench: Shri Pawan Singh & Dr Arjun Lal Saini

…t. During the year, the assessee sold only 86 plots by executing the sale deed in favour of purchaser/customer and presented for registration before registering authority. As per the decision of Jurisdictional High Court in CIT Vs Asha Land Corporation (1982) 133 ITR 55 (GUJ) and CIT Vs Shah Doshi & Company (1982) 133 ITR 23 it was held that in case of real-estate dealer, the income from sale of the real-estate, become chargeable in the year in which the concerned real-estate dealer executes the sale deed in favours of the purchaser and when such sale deed is presented for registration. During the assessment proc…

The Dy.Commissioner of Income Tax Circle-2(3), Surat vs. M/S. Raj Enterprises, Surat

Bench: Shri Pawan Singh & Dr Arjun Lal Saini

…t. During the year, the assessee sold only 86 plots by executing the sale deed in favour of purchaser/customer and presented for registration before registering authority. As per the decision of Jurisdictional High Court in CIT Vs Asha Land Corporation (1982) 133 ITR 55 (GUJ) and CIT Vs Shah Doshi & Company (1982) 133 ITR 23 it was held that in case of real-estate dealer, the income from sale of the real-estate, become chargeable in the year in which the concerned real-estate dealer executes the sale deed in favours of the purchaser and when such sale deed is presented for registration. During the assessment proc…

The Dy. Commissioner of Income Tax, Circle-2(3), Surat vs. M/S. Shhlok Enterprise, Surat

In the result the grounds of appeal raised by the revenue are dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Virtual Court Hearing) Deputy Commissioner Of Income Vs. M/S. Shhlok Enterprise, Tax, Circle-2(3), Surat Block No.292, Plot No.135/B, Shhlok Arcede, Bamroli Road, Surat. Pan : Abufs8091E Appellant Respondednt

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER (Virtual Court Hearing) Deputy Commissioner of Income Vs. M/s. Shhlok Enterprise, Tax, Circle-2(3), Surat Block No.292, Plot No.135/B, Shhlok Arcede, Bamroli Road, Surat. PAN : ABUFS8091E APPELLANT RESPONDEDNT Appellant by Ms Anupama Singla, Sr. DR Respondent by Shri P M Jagasheth, CA Date of hearing 03/12/2020 Date of pronouncement 06/01/2021 O R D E R PER PAWAN SINGH, JUDICIAL MEMBER: 1. This appeal by Revenue is directed against the order of the learned Commissioner of…

M/S. Mayur Construction, Valsad vs. The ACIT., Valsad Range, Valsad

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh, Hon'Ble & Shri Arjun Lal Saini, Hon'Ble(Virtual Hearing) आ.अ.सं./I.T.A No. 1042/Ahd/2016 "नधा"रण वष"/Assessment Year: 2010-11 Mayur Construction, V The Assistant Commissioner Of Income Tax, Valsad. 110, Amar Chamber,Valsad. S [Pan: Aadfm 9859 L] . अपीलाथ" / Appellant ""यथ"/Respondent

…project was received, the income has not accrued as sale deed has not been signed or possession in respect of flats has not been handed over. The assessee relied on the judgements of Hon 'ble Gujarat High Court in the case(s) of CIT vs. Asha Land Corporation (133 ITR 55)[Guj], CAT vs. Shah Doshi& Co. (133 ITR 23)[Guj.J, ChdambaramChettiar v.v. C1T (4 ITR 309)[Mad.] and Kunjemat& Sons vs. CIT (9 ITR 359)[All./. The AO in para-10 of the assessment order computed the total undisclosed income for the block period at Rs.2,61,78,438/-. However, the AO opted to adopt the undisclosed income on the basis of the statement…

M/S. Jay Kesar Bhavani Developers Pvt.Ltd., Surat vs. The Itoi, WD.1(3), Surat

In the result, the appeal of the assessee is partly allowed

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.1196/Ahd/2013 िनधा"रण वष"/Assessment Year:2009-10 M/S. Jay Kesar Bhavani V. Income Tax Officer, Developers Pvt. Ltd., Ward-1(3) Surat A-48,Kesar Kunj, Shri Bhulabhai Desai Marg, Laxmikant Ashram Road Katargam Surat 395004 Pan:Aabcj 6278 P अपीलाथ" Appellant ""यथ"/Respondent

…ceipt of on-money has been found and not in respect of other units where there are no such evidences. The learned counsel for the assessee further relied on the judgement in the case of the Hon’ble Gujarat High Court in the case of CIT V. Ashland Corporation 133 ITR 55 and in CIT v. Motilal C Patel & Company 173 ITR 666 wherein it laid down that it is settled law that no addition can be made purely based on statement recorded during survey. The learned counsel for the assessee further relied on the judgement of Hon’ble Gujarat High Court in the case of DCIT V. Panna Corporation [Tax Appeal No. 323 and 325 of…