KOTHARI BROTHERS,VADODARA vs. THE ITO, WARD-2(1), VADODARA

In the result, appeal of the assessee is partly allowed for statistical purposes

Bench: Ms. Suchitra Kambleassessment Year: 2007-08

loss account, balance and its annexures and copy of audit report. The assessee submitted the same. After taking cognisance of the details filed by the assessee along with submissions, the Assessing Officer made addition in respect of disallowance related to expenses amounting to Rs.75,484/- which included diesel expenses, trip and driver allowance expenses etc. 4. Being aggrieved

THE DCIT, CIRCLE-3(1)(2), AHMEDABAD vs. M/S. OM LAND REALITY PVT.LTD.,, AHMEDABAD

In the result, the appeal of the Revenue and the Cross Objection filed by the assessee are partly allowed for statistical purpose

Bench: Ms. Suchitra Kamble & Shri Narendra Prasad Sinhaआयकर अपील सं./Ita No. 1572/Ahd/2019 With C.O No.24/Ahd/2022 िनधा"रण वष"/Asstt. Year: 2014-2015 The Dcit, M/S. Om Land Reality Pvt. Ltd., Circle-3(1)(2), बनाम 302, 3Rd Floor, Vs. Ahmedabad. Abhiship Complex Nr. Keshav Baug Party Plot, Satellite, Ahmedabad-380015. Pan: Aaaco9406D ( ""यथ" /Respondent) (अपीलाथ" /Appellant Revenue By : Shri Sudhendu Das, Dr Assessee By : Ms Amoli Gusani, Ar

carried forward. 9. Whether the Ld. CIT(A) was correct in deleting the addition of Rs. 63.61.066/-on account of brought forward losses. 3. The assesee has raised the following grounds of Cross Objections. 1. The Ld. CIT(A) was correct in deleting the addition made u/s. 68 of the Act to the extent

INTAS BIOPHARMACEUTICALS LTD.,,AHMEDABAD vs. THE DY.COMMISSIONER OF INCOME TAX,CIRCLE-2(1)(1),, AHMEDABAD

In the result, appeal preferred by the assessee is allowed in part

Bench: Ms. Suchitra Kamble, Judical Member & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. No. 865/Ahd/2016 (िनधा"रण वष" िनधा"रण वष" / Assessment Year : 2011-12) िनधा"रण वष" िनधा"रण वष" Intas The Dy. Commissioner Of बनाम बनाम/ बनाम बनाम Biopharmaceuticals Ltd. Income Tax Vs. Plot 423/P/A, Sarkhej Circle-2(1)(1), Ahmedabad Bavla Highway, Moraiya, Sanand, Ahmedabad, Gujarat, 382213 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabci4722M (Appellant) .. (Respondent) Shri Bandish Soparkar & Shri Parin अपीलाथ" ओर से /Appellant By : Shah, Ars. ""यथ" क" ओर से/Respondent By : Dr. Darsi Suman Ratnam, Cit. Dr & Shri Ashish Rajesh Revar, Sr. Dr Date Of Hearing 24/07/2024 Date Of Pronouncement 07/08/2024 O R D E R Per Shri Narendra Prasad Sinha, Am: This Appeal Is Filed By The Assessee Against The Order Of The Commissioner Of Income-Tax (Appeals)-7, Ahmedabad (In Short ‘The Cit(A)’) Dated 20.01.2016 For The Assessment Year 2011-12. Ita No. 865/Ahd/2016 [Intas Biopharmaceuticals Ltd. Vs. Dcit] A.Y. 2011-12 - 2 –

carry forward of the loss, the same has to be first established. This is not the case where the assessee had incurred any capital loss. Rather the addition to CWIP was not fully justified by the assessee and the amount of Rs.16,35,331/- remained unreconciled which cannot be considered as actual capital loss. Therefore, we do not find anything

DCIT CC- 1(3), AAYKAR BHAWAN vs. MONTECARLO LIMITED, MONTECARLO HOUSE, SINDHU BHAWA

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

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Makarand V Mahadeokar (Accountant Member)

forward Not Applicable cumulative losses u/s 80IA(4) A.Y. 2013-14 Disallowed Fully Allowed Dismissed on Allowed by account of low CIT(A) tax effect A.Y. 2012-13 Not claimed on Not Applicable account of carrying forwa rd cumulative losses u/s 80IA I.T.A Nos. 598 & 599/Ahd/2019 A.Ys. 2018-19 & 2020-21 Page No 3 DCIT Vs Montecarlo Constructjion

DCIT CC- 1(3), AAYKAR BHAVAN vs. MONTECARLO LIMITED , SINDHU BHAWAN ROAD, BODAKDEV

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

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Makarand V Mahadeokar (Accountant Member)

forward Not Applicable cumulative losses u/s 80IA(4) A.Y. 2013-14 Disallowed Fully Allowed Dismissed on Allowed by account of low CIT(A) tax effect A.Y. 2012-13 Not claimed on Not Applicable account of carrying forwa rd cumulative losses u/s 80IA I.T.A Nos. 598 & 599/Ahd/2019 A.Ys. 2018-19 & 2020-21 Page No 3 DCIT Vs Montecarlo Constructjion

DEPUTY COMMISSIONER OF INCOME -TAX, AHMEDABAD vs. PRAKASH MISRIMAL SANGHVI, AHMEDABAD

In the result, the appeal of the Revenue in ITA No

Bench: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. Nos. 1138 To 1146/Ahd/2024 ("नधा"रण वष" / Assessment Years : 2013-14 To 2021-22) बनाम/ Prakash Misrimal Deputy Commissioner Of Sanghvi Income-Tax Vs. 17, Rajmugat Soc. Central Circle-1(1), Naranpura Char Rasta, Ahmedabad Naranpura, Ahmedabad 380013 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaeps7266A (Appellant) .. (Respondent)

Loss account prepared by the assessee on the basis of notings of the seized diary. 5. The learned CIT(A) has erred in confirming the addition of Rs.11,36,95,718/- made by AO on account of Interest on the basis of notings in the seized ledger “Shree Vyaaj Khaate / Vyaaj Khaate”. 6. The learned CIT(A) has erred

PRAKASH MISRIMAL SANGHVI,AHMEDABAD vs. DCIT CC 1(1) AHMEDABAD, AHEMEDABAD

In the result, the appeal of the Revenue in ITA No

Bench: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. Nos. 1138 To 1146/Ahd/2024 ("नधा"रण वष" / Assessment Years : 2013-14 To 2021-22) बनाम/ Prakash Misrimal Deputy Commissioner Of Sanghvi Income-Tax Vs. 17, Rajmugat Soc. Central Circle-1(1), Naranpura Char Rasta, Ahmedabad Naranpura, Ahmedabad 380013 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaeps7266A (Appellant) .. (Respondent)

Loss account prepared by the assessee on the basis of notings of the seized diary. 5. The learned CIT(A) has erred in confirming the addition of Rs.11,36,95,718/- made by AO on account of Interest on the basis of notings in the seized ledger “Shree Vyaaj Khaate / Vyaaj Khaate”. 6. The learned CIT(A) has erred

DEPUTY COMMISSIONER OF INCOME -TAX, CENTRAL CIRCLE-1(1), AHMEDABAD, AHMEDABAD vs. PRAKASH MISRIMAL SANGHVI, AHMEDABAD

In the result, the appeal of the Revenue in ITA No

Bench: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. Nos. 1138 To 1146/Ahd/2024 ("नधा"रण वष" / Assessment Years : 2013-14 To 2021-22) बनाम/ Prakash Misrimal Deputy Commissioner Of Sanghvi Income-Tax Vs. 17, Rajmugat Soc. Central Circle-1(1), Naranpura Char Rasta, Ahmedabad Naranpura, Ahmedabad 380013 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaeps7266A (Appellant) .. (Respondent)

Loss account prepared by the assessee on the basis of notings of the seized diary. 5. The learned CIT(A) has erred in confirming the addition of Rs.11,36,95,718/- made by AO on account of Interest on the basis of notings in the seized ledger “Shree Vyaaj Khaate / Vyaaj Khaate”. 6. The learned CIT(A) has erred

DEPUTY COMMISSIONER OF INCOME -TAX, CENTRAL CIRCLE-1(1), AHMEDABAD, AHMEDABAD vs. PRAKASH MISRIMAL SANGHVI, AHMEDABAD

In the result, the appeal of the Revenue in ITA No

Bench: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. Nos. 1138 To 1146/Ahd/2024 ("नधा"रण वष" / Assessment Years : 2013-14 To 2021-22) बनाम/ Prakash Misrimal Deputy Commissioner Of Sanghvi Income-Tax Vs. 17, Rajmugat Soc. Central Circle-1(1), Naranpura Char Rasta, Ahmedabad Naranpura, Ahmedabad 380013 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaeps7266A (Appellant) .. (Respondent)

Loss account prepared by the assessee on the basis of notings of the seized diary. 5. The learned CIT(A) has erred in confirming the addition of Rs.11,36,95,718/- made by AO on account of Interest on the basis of notings in the seized ledger “Shree Vyaaj Khaate / Vyaaj Khaate”. 6. The learned CIT(A) has erred

DEPUTY COMMISSIONER OF INCOME -TAX, CENTRAL CIRCLE-1(1), AHMEDABAD, AHMEDABAD vs. PRAKASH MISRIMAL SANGHVI, AHMEDABAD

In the result, the appeal of the Revenue in ITA No

Bench: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. Nos. 1138 To 1146/Ahd/2024 ("नधा"रण वष" / Assessment Years : 2013-14 To 2021-22) बनाम/ Prakash Misrimal Deputy Commissioner Of Sanghvi Income-Tax Vs. 17, Rajmugat Soc. Central Circle-1(1), Naranpura Char Rasta, Ahmedabad Naranpura, Ahmedabad 380013 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaeps7266A (Appellant) .. (Respondent)

Loss account prepared by the assessee on the basis of notings of the seized diary. 5. The learned CIT(A) has erred in confirming the addition of Rs.11,36,95,718/- made by AO on account of Interest on the basis of notings in the seized ledger “Shree Vyaaj Khaate / Vyaaj Khaate”. 6. The learned CIT(A) has erred

PRAKASH MISRIMAL SANGHVI,AHMEDABAD vs. DCIT CC 1(1) AHMEDABAD, AHMEDABAD

In the result, the appeal of the Revenue in ITA No

Bench: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. Nos. 1138 To 1146/Ahd/2024 ("नधा"रण वष" / Assessment Years : 2013-14 To 2021-22) बनाम/ Prakash Misrimal Deputy Commissioner Of Sanghvi Income-Tax Vs. 17, Rajmugat Soc. Central Circle-1(1), Naranpura Char Rasta, Ahmedabad Naranpura, Ahmedabad 380013 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaeps7266A (Appellant) .. (Respondent)

Loss account prepared by the assessee on the basis of notings of the seized diary. 5. The learned CIT(A) has erred in confirming the addition of Rs.11,36,95,718/- made by AO on account of Interest on the basis of notings in the seized ledger “Shree Vyaaj Khaate / Vyaaj Khaate”. 6. The learned CIT(A) has erred

PRAKASH MISRIMAL SANGHVI,AHMEDABAD vs. DCIT CC (1) AHMEDABAD, AHMEDABAD

In the result, the appeal of the Revenue in ITA No

Bench: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. Nos. 1138 To 1146/Ahd/2024 ("नधा"रण वष" / Assessment Years : 2013-14 To 2021-22) बनाम/ Prakash Misrimal Deputy Commissioner Of Sanghvi Income-Tax Vs. 17, Rajmugat Soc. Central Circle-1(1), Naranpura Char Rasta, Ahmedabad Naranpura, Ahmedabad 380013 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaeps7266A (Appellant) .. (Respondent)

Loss account prepared by the assessee on the basis of notings of the seized diary. 5. The learned CIT(A) has erred in confirming the addition of Rs.11,36,95,718/- made by AO on account of Interest on the basis of notings in the seized ledger “Shree Vyaaj Khaate / Vyaaj Khaate”. 6. The learned CIT(A) has erred

DEPUTY COMMISSIONER OF INCOME -TAX, CENTRAL CIRCLE-1(1) , AHMEDABAD, AHMEDABAD vs. PRAKASH MISRIMAL SANGHVI, AHMEDABAD

In the result, the appeal of the Revenue in ITA No

Bench: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. Nos. 1138 To 1146/Ahd/2024 ("नधा"रण वष" / Assessment Years : 2013-14 To 2021-22) बनाम/ Prakash Misrimal Deputy Commissioner Of Sanghvi Income-Tax Vs. 17, Rajmugat Soc. Central Circle-1(1), Naranpura Char Rasta, Ahmedabad Naranpura, Ahmedabad 380013 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaeps7266A (Appellant) .. (Respondent)

Loss account prepared by the assessee on the basis of notings of the seized diary. 5. The learned CIT(A) has erred in confirming the addition of Rs.11,36,95,718/- made by AO on account of Interest on the basis of notings in the seized ledger “Shree Vyaaj Khaate / Vyaaj Khaate”. 6. The learned CIT(A) has erred

PRAKASH MISRIMAL SANGHVI,AHMEDABAD vs. DCIT CC 1(1) AHMEDABAD, AHMEDABAD

In the result, the appeal of the Revenue in ITA No

Bench: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. Nos. 1138 To 1146/Ahd/2024 ("नधा"रण वष" / Assessment Years : 2013-14 To 2021-22) बनाम/ Prakash Misrimal Deputy Commissioner Of Sanghvi Income-Tax Vs. 17, Rajmugat Soc. Central Circle-1(1), Naranpura Char Rasta, Ahmedabad Naranpura, Ahmedabad 380013 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaeps7266A (Appellant) .. (Respondent)

Loss account prepared by the assessee on the basis of notings of the seized diary. 5. The learned CIT(A) has erred in confirming the addition of Rs.11,36,95,718/- made by AO on account of Interest on the basis of notings in the seized ledger “Shree Vyaaj Khaate / Vyaaj Khaate”. 6. The learned CIT(A) has erred

DCIT, CIRCLE-1(3), , AHMEDABAD vs. EDELWEISS BROKING LTD.(ON BEHALF OF AMALGAMATING COMPANY EDELWEISS FINANCIAL ADVISORS LTD.), AHMEDABAD

Appeal of the Revenue is dismissed whereas the ground of appeal of the assessee is allowed

Bench: Shri Mahavir Prasad & Shri Wassem Ahmedआयकर अपील सं./I.T.A. No. 2021/Ahd/2017 ("नधा"रण वष" / Assessment Year: 2013-14) M/S. Edelweiss Broking Ltd. Dcit बनाम/ (On Behalf Of Amalgamating Cricle-1(3), Vs. 1St Floor, B-109, Company, Edelweiss Financial Advisors Ltd.) Pratyaksh Kar Bhavan, Nr. 801-804, 8Th Floor, Abhishree Panjrapole, Ambawadi, Avenue, Opp. Hanumanji Ahmedabad-380015 Temple, Nehrunagar, Ambawadi, Ahmedabad- 380015 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabce9421H .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

TDS is warranted. 129. Before parting, it is also important to note that the ITAT in the own case of the assessee for the Assessment Year 2008-09 in ITA No. 1718/AHD/2011 has set aside the identical issue to the file of the AO for fresh adjudication after verifying whether payees have included the amount received from the assessee

M/S. EDELWEISS BROKING LIMITED,AHMEDABAD vs. THE DCIT, CIRCLE-1(3), AHMEDABAD

Appeal of the Revenue is dismissed whereas the ground of appeal of the assessee is allowed

Bench: Shri Mahavir Prasad & Shri Wassem Ahmedआयकर अपील सं./I.T.A. No. 2021/Ahd/2017 ("नधा"रण वष" / Assessment Year: 2013-14) M/S. Edelweiss Broking Ltd. Dcit बनाम/ (On Behalf Of Amalgamating Cricle-1(3), Vs. 1St Floor, B-109, Company, Edelweiss Financial Advisors Ltd.) Pratyaksh Kar Bhavan, Nr. 801-804, 8Th Floor, Abhishree Panjrapole, Ambawadi, Avenue, Opp. Hanumanji Ahmedabad-380015 Temple, Nehrunagar, Ambawadi, Ahmedabad- 380015 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabce9421H .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

TDS is warranted. 129. Before parting, it is also important to note that the ITAT in the own case of the assessee for the Assessment Year 2008-09 in ITA No. 1718/AHD/2011 has set aside the identical issue to the file of the AO for fresh adjudication after verifying whether payees have included the amount received from the assessee

PRAKASH MISRIMAL SANGHVI,AHMEDABAD vs. DCIT CC 1(1) AHMEDABAD, AHMEDABAD

Loss account prepared by\nthe assessee on the basis of notings of the seized diary.\n5. The learned CIT(A) has erred in confirming the addition of\nRs.11,36,95,718/- made by AO on account of Interest on the basis\nof notings in the seized ledger “Shree Vyaaj Khaate / Vyaaj\nKhaate\".\n6. The learned CIT(A) has erred

PRAKASH MISRIMAL SANGHVI,AHMEDABAD vs. DCIT CC 1(1) AHMEDABAD, AHMEDABAD

In the result, the appeal of the Revenue in ITA No

Loss account prepared by\nthe assessee on the basis of notings of the seized diary.\n5. The learned CIT(A) has erred in confirming the addition of\nRs.11,36,95,718/- made by AO on account of Interest on the basis\nof notings in the seized ledger “Shree Vyaaj Khaate / Vyaaj\nKhaate\".\n6. The learned CIT(A) has erred

PRAKASH MISRIMAL SANGHVI,AHMEDABAD vs. DCIT CC 1(1) AHMEDABAD, AHMEDABAD

In the result, the appeal of the Revenue in ITA No

Loss account prepared by\nthe assessee on the basis of notings of the seized diary.\n5. The learned CIT(A) has erred in confirming the addition of\nRs.11,36,95,718/- made by AO on account of Interest on the basis\nof notings in the seized ledger “Shree Vyaaj Khaate / Vyaaj\nKhaate\".\n6. The learned CIT(A) has erred