DCIT v. Radhe Developers India Ltd.

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 4 SURAT, SURAT vs. KISHORKUMAR DHIRAJLAL KATHROTIYA, SURAT

Accordingly, Ground No.12 is partly allowed

…ons of section 115BBE cannot be attracted and reliance is placed on the following decisions of various courts: J.K. Chokshi vs. ACIT-Tax Appeal 149 of 2003 (Guj) Green Associates vs. PCIT-Tax Appeal No. 1199 of 2018 (Guj.) DCIT v/s. Radhe Developers India Ltd-329 ITR 1 (Guj.) CIT vs Mhaskar General Hospital in TA No.1474 of 2009 (Guj) 10. Per contra Ld CIT DR Shri Aashish Pophare appearing for the Revenue supported the orders passed by the lower authorities and requested to sustain the additions. 11. We have given our thoughtful consideration and perused the materials available on record including the submissions…

KISHORKUMAR DHIRAJLAL KATHROTIYA,SURAT vs. DCIT, CENTRAL CIRCLE-4, , SURAT

In the result the appeal filed by the Revenue in ITA No

…ons of section 115BBE cannot be attracted and reliance is placed on the following decisions of various courts: J.K. Chokshi vs. ACIT-Tax Appeal 149 of 2003 (Guj) Green Associates vs. PCIT-Tax Appeal No. 1199 of 2018 (Guj.) DCIT v/s. Radhe Developers India Ltd-329 ITR 1 (Guj.) CIT vs Mhaskar General Hospital in TA No.1474 of 2009 (Guj) 10. Per contra Ld CIT DR Shri Aashish Pophare appearing for the Revenue supported the orders passed by the lower authorities and requested to sustain the additions. 11. We have given our thoughtful consideration and perused the materials available on record including the submissions…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, 4, SURAT vs. KISHORKUMAR DHIRAJLAL KATHROTIYA, SURAT

…ons of section 115BBE cannot be attracted and reliance is placed on the following decisions of various courts: J.K. Chokshi vs. ACIT-Tax Appeal 149 of 2003 (Guj) Green Associates vs. PCIT-Tax Appeal No. 1199 of 2018 (Guj.) DCIT v/s. Radhe Developers India Ltd-329 ITR 1 (Guj.) CIT vs Mhaskar General Hospital in TA No.1474 of 2009 (Guj) 10. Per contra Ld CIT DR Shri Aashish Pophare appearing for the Revenue supported the orders passed by the lower authorities and requested to sustain the additions. 11. We have given our thoughtful consideration and perused the materials available on record including the submissions…

ASSISTANT COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE -2, SURAT vs. SHAH MAGANLAL GULABCHAND CHOKSI, SURAT

In the result, appeals of assessee are allowed for statistical purpose

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI BIJAYANANDA PRUSETH (Accountant Member)

…ection 115BBE cannot be attracted. For this, ld. AR relied on the following decisions: (i) J.K. Chokshi vs. ACIT- Tax Appeal 149 of 2003 (Guj.); (ii) Green Associates vs. PCIT - Tax Appeal No. 1199 of 2018 (Guj.); (iii) DCIT v/s. Radhe Developers India Ltd. - 329 ITR 1 (Guj.) and (iv) CIT vs. Mhaskar General Hospital in Tax Appeal No. 1474 of 2009 (Guj.) 13.13 Without prejudice, the ld. AR submitted that the amendment to section 115BBE was made through Taxation Laws (2nd amendment Act, 2016) which received the assent of the President on 15.12.2016 and was published vide gazette dated 15.12.2016. The law is well s…

SHAH MAGANLAL GULABCHAND CHOKSI,SURAT vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, SURAT

In the result, appeals of assessee are allowed for statistical purpose

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI BIJAYANANDA PRUSETH (Accountant Member)

…ection 115BBE cannot be attracted. For this, ld. AR relied on the following decisions: (i) J.K. Chokshi vs. ACIT- Tax Appeal 149 of 2003 (Guj.); (ii) Green Associates vs. PCIT - Tax Appeal No. 1199 of 2018 (Guj.); (iii) DCIT v/s. Radhe Developers India Ltd. - 329 ITR 1 (Guj.) and (iv) CIT vs. Mhaskar General Hospital in Tax Appeal No. 1474 of 2009 (Guj.) 13.13 Without prejudice, the ld. AR submitted that the amendment to section 115BBE was made through Taxation Laws (2nd amendment Act, 2016) which received the assent of the President on 15.12.2016 and was published vide gazette dated 15.12.2016. The law is well s…

KRISHNA HIREN GUJARATI,SURAT vs. INCOME TAX OFFICER, WD. 3(2)(4), SURAT

In the result, the ground of appeal raised by the assessee is partly allowed

Bench: Shri Pawan Singh(Hybrid Hearing) Krishna Hiren Gujarati, I.T.O., C-24, Krishna Park Society, Opp. Ward-3(2)(4), Vs. Bhagat Nagar, Ved Gurukul Road, Surat. Surat-4 (Gujarat) Pan No. Acupk 0294 Q Appellant/ Assessee Respondent/ Revenue

…ication of Section 115BBE of the Act, the ld. AR of the assessee relied on the following decisions: (7) J.K. Choksi Vs ACIT Tax Appeal No. 149 of 2003 (Guj) (8) Green Associates Vs PCIT Tax Appeal No. 1199 of 2018 (Guj) (9) DCIT Vs Radhe Developers India Ltd. 329 ITR 1 (Guj) 8 Krishna Hiren Gujarati Vs ITO (10) CIT Vs Mhaskar General Hospital Tax Appeal no. 1474 of 2009 (Guj) On the submission that the provisions of Section 115BBE of the Act is not retrospective, the ld. AR of the assessee has relied on the following case laws: (11) Karimtharuvi Tea Estate Ltd. Vs State of Kerela (1966) 60 ITR 262 (SC) (12) CIT…

M/S VATSALYA BUILDERS & DEVELOPMENT PVT LTD ,NAGPUR vs. ACIT CENTRAL CIRCLE1(2), NAGPUR

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita Nos.85 To 87 & 210/Nag/2018 िनधा"रण वष" / Assessment Years : 2011-12 To 2014-15 M/S. Vatsalya Builders & Vs. Acit, Central Circle- Developers Pvt. Ltd., 1(2), Nagpur. 202, Ganesh Chambers, Dhantoli, Nagpur- 440012. Pan : Aabcv6745K Appellant Respondent Assessee By : Shri Mukesh Agrawal Revenue By : Shri Kailash G. Kanojiya Date Of Hearing : 17.10.2023 Date Of Pronouncement : 31.10.2023 आदेश / Order Per Inturi Rama Rao, Am : These Are The Appeals Filed By The Assessee Directed Against The Different Orders Of Ld. Commissioner Of Income Tax (Appeals)- 3, Nagpur [‘The Cit(A)’] Dated 26.02.2018 & 22.06.2018 For The Assessment Years 2011-12 To 2014-15 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In All The Above Captioned Four Appeals Of The Assessee, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal In Ita No.85/Nag/2018 For The Assessment Year 2011-12 Are Stated Herein.

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR – VIRTUAL COURT BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S. S. VISWANETHRA RAVI, JUDICIAL MEMBER आयकर अपील सं. / ITA Nos.85 to 87 & 210/NAG/2018 िनधा"रण वष" / Assessment Years : 2011-12 to 2014-15 M/s. Vatsalya Builders & Vs. ACIT, Central Circle- Developers Pvt. Ltd., 1(2), Nagpur. 202, Ganesh Chambers, Dhantoli, Nagpur- 440012. PAN : AABCV6745K Appellant Respondent Assessee by : Shri Mukesh Agrawal Revenue by : Shri Kailash G. Kanojiya Date of hearing : 17.10.2023 Date of pronouncement : 31.10.2023 आदेश / ORDER PER INTURI RAMA RAO, AM : T…

M/S VATSALYA BUILDERS & DEVELOPMENT PVT LTD ,NAGPUR vs. ACIT CENTRAL CIRCLE1(2), NAGPUR

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita Nos.85 To 87 & 210/Nag/2018 िनधा"रण वष" / Assessment Years : 2011-12 To 2014-15 M/S. Vatsalya Builders & Vs. Acit, Central Circle- Developers Pvt. Ltd., 1(2), Nagpur. 202, Ganesh Chambers, Dhantoli, Nagpur- 440012. Pan : Aabcv6745K Appellant Respondent Assessee By : Shri Mukesh Agrawal Revenue By : Shri Kailash G. Kanojiya Date Of Hearing : 17.10.2023 Date Of Pronouncement : 31.10.2023 आदेश / Order Per Inturi Rama Rao, Am : These Are The Appeals Filed By The Assessee Directed Against The Different Orders Of Ld. Commissioner Of Income Tax (Appeals)- 3, Nagpur [‘The Cit(A)’] Dated 26.02.2018 & 22.06.2018 For The Assessment Years 2011-12 To 2014-15 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In All The Above Captioned Four Appeals Of The Assessee, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal In Ita No.85/Nag/2018 For The Assessment Year 2011-12 Are Stated Herein.

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR – VIRTUAL COURT BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S. S. VISWANETHRA RAVI, JUDICIAL MEMBER आयकर अपील सं. / ITA Nos.85 to 87 & 210/NAG/2018 िनधा"रण वष" / Assessment Years : 2011-12 to 2014-15 M/s. Vatsalya Builders & Vs. ACIT, Central Circle- Developers Pvt. Ltd., 1(2), Nagpur. 202, Ganesh Chambers, Dhantoli, Nagpur- 440012. PAN : AABCV6745K Appellant Respondent Assessee by : Shri Mukesh Agrawal Revenue by : Shri Kailash G. Kanojiya Date of hearing : 17.10.2023 Date of pronouncement : 31.10.2023 आदेश / ORDER PER INTURI RAMA RAO, AM : T…

M/S VATSALYA BUILDERS & DEVELOPMENT PVT LTD ,NAGPUR vs. ACIT CENTRAL CIRCLE1(2), NAGPUR

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita Nos.85 To 87 & 210/Nag/2018 िनधा"रण वष" / Assessment Years : 2011-12 To 2014-15 M/S. Vatsalya Builders & Vs. Acit, Central Circle- Developers Pvt. Ltd., 1(2), Nagpur. 202, Ganesh Chambers, Dhantoli, Nagpur- 440012. Pan : Aabcv6745K Appellant Respondent Assessee By : Shri Mukesh Agrawal Revenue By : Shri Kailash G. Kanojiya Date Of Hearing : 17.10.2023 Date Of Pronouncement : 31.10.2023 आदेश / Order Per Bench : These Are The Appeals Filed By The Assessee Directed Against The Different Orders Of Ld. Commissioner Of Income Tax (Appeals)- 3, Nagpur [‘The Cit(A)’] Dated 26.02.2018 & 22.06.2018 For The Assessment Years 2011-12 To 2014-15 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In All The Above Captioned Four Appeals Of The Assessee, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal In Ita No.85/Nag/2018 For The Assessment Year 2011-12 Are Stated Herein.

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR – VIRTUAL COURT BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S. S. VISWANETHRA RAVI, JUDICIAL MEMBER आयकर अपील सं. / ITA Nos.85 to 87 & 210/NAG/2018 िनधा"रण वष" / Assessment Years : 2011-12 to 2014-15 M/s. Vatsalya Builders & Vs. ACIT, Central Circle- Developers Pvt. Ltd., 1(2), Nagpur. 202, Ganesh Chambers, Dhantoli, Nagpur- 440012. PAN : AABCV6745K Appellant Respondent Assessee by : Shri Mukesh Agrawal Revenue by : Shri Kailash G. Kanojiya Date of hearing : 17.10.2023 Date of pronouncement : 31.10.2023 आदेश / ORDER PER BENCH : These are the a…

M/S VATSALYA BUILDERS ,NAGPUR vs. ASSISTANT COMISSIONER OF INCOME TAX CENTARL CIRCLE 1(2), NAGPUR

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

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita Nos.85 To 87 & 210/Nag/2018 िनधा"रण वष" / Assessment Years : 2011-12 To 2014-15 M/S. Vatsalya Builders & Vs. Acit, Central Circle- Developers Pvt. Ltd., 1(2), Nagpur. 202, Ganesh Chambers, Dhantoli, Nagpur- 440012. Pan : Aabcv6745K Appellant Respondent Assessee By : Shri Mukesh Agrawal Revenue By : Shri Kailash G. Kanojiya Date Of Hearing : 17.10.2023 Date Of Pronouncement : 31.10.2023 आदेश / Order Per Inturi Rama Rao, Am : These Are The Appeals Filed By The Assessee Directed Against The Different Orders Of Ld. Commissioner Of Income Tax (Appeals)- 3, Nagpur [‘The Cit(A)’] Dated 26.02.2018 & 22.06.2018 For The Assessment Years 2011-12 To 2014-15 Respectively. 2. Since The Identical Facts & Common Issues Are Involved In All The Above Captioned Four Appeals Of The Assessee, We Proceed To Dispose Of The Same By This Common Order. 3. For The Sake Of Convenience & Clarity, The Facts Relevant To The Appeal In Ita No.85/Nag/2018 For The Assessment Year 2011-12 Are Stated Herein.

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR – VIRTUAL COURT BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S. S. VISWANETHRA RAVI, JUDICIAL MEMBER आयकर अपील सं. / ITA Nos.85 to 87 & 210/NAG/2018 िनधा"रण वष" / Assessment Years : 2011-12 to 2014-15 M/s. Vatsalya Builders & Vs. ACIT, Central Circle- Developers Pvt. Ltd., 1(2), Nagpur. 202, Ganesh Chambers, Dhantoli, Nagpur- 440012. PAN : AABCV6745K Appellant Respondent Assessee by : Shri Mukesh Agrawal Revenue by : Shri Kailash G. Kanojiya Date of hearing : 17.10.2023 Date of pronouncement : 31.10.2023 आदेश / ORDER PER INTURI RAMA RAO, AM : T…

USHABEN VINODBHAI BELADIYA,SURAT vs. INCOME TAX OFFICER WARD 3(3)(1), SURAT

In the result, the appeal filed by the assessee is partly allowed in above terms

Bench: Shri Dr. A. L. Sainiआयकर अपील सं./Ita No.246/Srt/2022 Assessment Year: (2017-18) (Physical Hearing) Ushaben Vinodbhai Beladiya, Vs. The Ito, No.237, Vikram Nagar Society, Ward – 3(3)(1), Near Trikam Nagar, L.H. Road, Surat Surat – 395006. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aimpb4673N (Assessee) (Respondent)

…e, Section 115BBE cannot be attracted. In this regard the assessee relied on following decisions: (i) J.K. Choksi vs. ACIT – Tax Appeal 149 of 2003(Guj.) (ii) Green Associates vs. PCIT – Tax Appeal No. 1199 of 2018 (iii) DCIT vs. Radhe Developers India Ltd. – 329 ITR 1 (iv) CIT vs. Mhaskar General Hospital – Tax Appeal No. 1474 of 2009 15. Without prejudice to what is stated hereinabove, it is submitted that the amendment to Section 115BBE was made through Taxation Laws (2nd amendment Act 2016) which received the assent of the President on 15.12.2016 and was published vide gazette dt. 15.12.2016. The law is well…

THAKORDAS PAREKH & SONS,,NA vs. ARIVS.INCOME TAX OFFICER, WARD-5, NAVSARI

In the result, ground No. 2 & 3

Bench: Shri Pawan Singhआ.अ.सं./Ita No.167/Srt/2022 (Ay 2017-18) (Hearing In Physical Court) Thakordas Parekh & Sons Income Tax Officer, Ward-5, Bazar Street, Chikhli, Navsari, 204, 2Nd Floor, Vs Navsari-396530 Income Tax Office, Pan No: Aabft 4593 J Charpool, Awabaug, Navsari-396445 अपीलाथ"/Appellant ""यथ" /Respondent "नधा"रती क" ओर से /Assessee By Shri Rasesh Shah, C.A राज"व क" ओर से /Revenue By Shri Vinod Kumar, Sr-Dr सुनवाई की तारीख/Date Of Hearing 05.01.2023 उ"घोषणा क" तार"ख/Date Of 30.03.2023 Pronouncement Order Under Section 254(1) Of Income Tax Act Per Pawan Singh: 1. This Appeal By Assessee Is Directed Against The Order Of National Faceless Appeal Centre, Delhi [For Short To As “Nfac/Ld.Cit(A)”] Dated 23.03.2022 For Assessment Year 2017-18, Which In Turn Arises From The Addition Made By The Income Tax Officer, Ward-5, Navsari / Assessing Officer In Assessment Order Passed Under Section 144 R.W.S143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Dated 30.12.2019. The Assessee Has Raised The Following Grounds Of Appeal:- “1. On The Facts & In The Circumstances Of The Case As Well As Law On The Subject, The Learned Cit(A) Has Erred In Confirming The Action Thakordas Parekh & Sons Of Assessing Officer In Rejecting The Books Of Accounts U/S 145(3) Of The Act.

…bur (P.) Ltd. 273 ITR 1 (SC)  CIT vs. Shilpa dyeing & Printing Mills (P.) Ltd. 39 taxmann.com 3 (Guj)  J.K. Chokshi vs. ACIT Tax Appeal No.149 of 2003 (Guj)  Green Associates vs. PCIT -Tax Appeal No.1199 of 2018 (Guj)  DCIT vs. Radhe Developers India Ltd. 329 ITR 1 (Guj)  CIT vs. Mhaskar General Hospital in Tax Appeal No.1474 of 2009 (Guj)  Daulatram Rawatmull vs. CIT 64 ITRT 593 (Cal)  Mansfield and Sons vs. CIT 48 ITR 254 (Cal) 13 Thakordas Parekh & Sons  CIT vs. Chensing Ventures (2007) 291 ITR 258 (Mad)  CIT vs. S.K. Srigir & Bros. 171 Taxman 264 (Kar) 10. On the other hand, Ld. Senior Departmental…

SHIVAM DEVELOPERS,GODADRA vs. ITO, SURAT, SURAT

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No.76/Srt/2020 ("नधा"रणवष" / Assessment Year: (2015-16) (Physical Court Hearing) Shivam Developers, Vs. The Pr. Cit-2, 141, Khodiyar Residency, Surat. Godadra, Surat-395010. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acffs4002D (Appellant) (Respondent) Assessee By Shri Sapnesh Sheth, Ca Respondent By Shri Ritesh Mishra, Cit-Dr Date Of Hearing 06/10/2022 Date Of Pronouncement 11/11/2022

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JM & DR. A. L. SAINI, AM आयकरअपीलसं./ITA No.76/SRT/2020 ("नधा"रणवष" / Assessment Year: (2015-16) (Physical Court Hearing) Shivam Developers, Vs. The Pr. CIT-2, 141, Khodiyar Residency, Surat. Godadra, Surat-395010. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: ACFFS4002D (Appellant) (Respondent) Assessee by Shri Sapnesh Sheth, CA Respondent by Shri Ritesh Mishra, CIT-DR Date of Hearing 06/10/2022 Date of Pronouncement 11/11/2022 आदेश / ORDER PER DR. A. L. SAINI, AM: By way of this appeal, the assessee has challenged the correctness of the o…

ASSISTANT COMMISSIONER OF INCOME TAX, VALSAD CIRCLE, VALSAD vs. M/S. MANGALDEEP, VALSAD

In the result, appeals in ITA No

Bench: Shripawan Singh, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.699/Srt/2018 ("नधा"रणवष" / Assessment Years: (2015-16) (Virtual Court Hearing) The Acit, Valsad Circle, Vs. M/S. Mangaldeep, 1St Floor, Shankeshwar Complex, Valsad. Dhobiwad, Valsad, Valsad-396001. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aahfm7130L (Appellant) (Respondent) Cross Objection No.11/Srt/2021 [Arising In Ita No.699/Srt/2018] ("नधा"रणवष" / Assessment Years: (2015-16) (Virtual Court Hearing) M/S. Mangaldeep, Vs. The Acit, Valsad Circle, 1St Floor, Shankeshwar Complex, Valsad. Dhobiwad, Valsad, Valsad-396001. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aahfm7130L (Applicant-Co-Objector) (Respondent)

…sessee and must be treated to be an income from other source. No deduction from this income can be made for incurring business expenditure. Counsel drew our attention to the decision of this Court in the case of Deputy CIT v. Radhe Developers India Ltd. (Guj) 329 ITR 1. On the other hand, counsel for the assessee submitted that the Assessing Officer committed no error in the assessment order. The Commissioner could not have revised such order even without holding that the order passed by the Assessing Officer is erroneous and is prejudicial to the interest of the Revenue. He submitted that deduction towards inter…

M/S. SHUBH ENTERPRISE,SURAT vs. PR. CIT-1, , SURAT

In the result, the appeal of the assessee is allowed

Bench: Shripawan Singh, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.317/Srt/2018 (िनधा"रणवष" / Assessment Year: (2013-14) (Virtual Court Hearing) M/S Shubh Enterprise Principal Commissioner Of Income V Tp Scheme No.14, Plot No.42, Opp. Tax-1, Aayakar Bhawan, Majura S. Recent Residency, Pal Village, Surat Gate, Surat-395002 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Abzfs 6271 K (Appellant ) (Respondent)

…ssessee and must be treated to be an income from other source. No deduction from this income can be made for incurring business expenditure. Counsel drew our attention to the decision of this Court in the case of Deputy CIT v Radhe Developers India Ltd. (Guj) 329 ITR 1. On the other hand, counsel for the assessee submitted that the Assessing Officer committed no error in the assessment order. The Commissioner could not have revised such order even without holding that the order passed by the Assessing Officer is erroneous and is prejudicial to the interest of the Revenue. He submitted that deduction towards inter…

M/S. BALAR EXPORTS,,SURAT vs. THE DY.CIT.,CENT. CIRCLE-1,, 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’S.3188 & 3189/Ahd/2011 िनधा"रण वष"/Assessment Year: 2008-09 1. Deputy Commissioner Of Vs. 1.M/S. Balar Exports, Income Tax, Central Circle-1, Balar Building, Opp. Surat. Panchratna Tower, Lambe Hanuman Road, Surat-395 006. [Pan: Aacfb 4703 H] 2.M/S. Balar Exports, 2. Deputy Commissioner Of Balar Building, Opp. Income Tax, Central Panchratna Tower, Lambe Circle-1, Surat. Hanuman Road, Surat-395 006. [Pan: Aacfb 4703 H] अपीलाथ" Appellant ""यथ"/Respondent िनधा"रती क" ओर से /Assessee By Shri Rasesh Shah - Ca Shri Srinivas T. Bidari - Cit(D.R.) राज"व क" ओर से /Revenue By 11.12.2019 सुनवाई क" तारीख/ Date Of Hearing: उ"ोषणा क" तारीख/Pronouncement On: 04.02.2020 आदेश /O R D E R Per O. P. Meena, Am: 1. The Above Cross Appeals By The Revenue & Assessee Are Directed Against The Order Of Learned Commissioner Of Income Tax (Appeals)-Ii, Ahmedabad (In Short “The Cit (A)”) Dated 19.10.2011 For The Assessment Year 2008-09, Which In Turn Has Arisen From The Assessment Order Passed Under Section 143(3) Dated 31.12.2010 Of Balar Exports V. Dcit-Cc-1-Surat & Vice- Versa /I.T.A.No’S. 3189 & 3188/Ahd/2011/A.Y.2008-09 Page 2 Of 49

…see was not found to be deriving any other income except the income from business. Accordingly, the assessee is entitled to deduction under section 37 of the Act as per the decision of Hon’ble Gujarat High Court in the case of DCIT vs. Radhe Developers [2011] 329 ITR 1 (Guj). Although this decision was relating to financial year prior to amendment made under section 69C with effect from 01. 04. 1999, the decision is applicable to after amendment as per the ratio of this decision, as followed by Hon'ble Gujarat High Court in the case of CIT v. Shilpa Dyeing and Printing Mills Pvt. Ltd. 381 DTR 0381 (Gujarat) which…

THE DCIT, CENTRAL CIRCLE-1,, SURAT vs. M/S. BALAR EXPORTS,, 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’S.3188 & 3189/Ahd/2011 िनधा"रण वष"/Assessment Year: 2008-09 1. Deputy Commissioner Of Vs. 1.M/S. Balar Exports, Income Tax, Central Circle-1, Balar Building, Opp. Surat. Panchratna Tower, Lambe Hanuman Road, Surat-395 006. [Pan: Aacfb 4703 H] 2.M/S. Balar Exports, 2. Deputy Commissioner Of Balar Building, Opp. Income Tax, Central Panchratna Tower, Lambe Circle-1, Surat. Hanuman Road, Surat-395 006. [Pan: Aacfb 4703 H] अपीलाथ" Appellant ""यथ"/Respondent िनधा"रती क" ओर से /Assessee By Shri Rasesh Shah - Ca Shri Srinivas T. Bidari - Cit(D.R.) राज"व क" ओर से /Revenue By 11.12.2019 सुनवाई क" तारीख/ Date Of Hearing: उ"ोषणा क" तारीख/Pronouncement On: 04.02.2020 आदेश /O R D E R Per O. P. Meena, Am: 1. The Above Cross Appeals By The Revenue & Assessee Are Directed Against The Order Of Learned Commissioner Of Income Tax (Appeals)-Ii, Ahmedabad (In Short “The Cit (A)”) Dated 19.10.2011 For The Assessment Year 2008-09, Which In Turn Has Arisen From The Assessment Order Passed Under Section 143(3) Dated 31.12.2010 Of Balar Exports V. Dcit-Cc-1-Surat & Vice- Versa /I.T.A.No’S. 3189 & 3188/Ahd/2011/A.Y.2008-09 Page 2 Of 49

…see was not found to be deriving any other income except the income from business. Accordingly, the assessee is entitled to deduction under section 37 of the Act as per the decision of Hon’ble Gujarat High Court in the case of DCIT vs. Radhe Developers [2011] 329 ITR 1 (Guj). Although this decision was relating to financial year prior to amendment made under section 69C with effect from 01. 04. 1999, the decision is applicable to after amendment as per the ratio of this decision, as followed by Hon'ble Gujarat High Court in the case of CIT v. Shilpa Dyeing and Printing Mills Pvt. Ltd. 381 DTR 0381 (Gujarat) which…