XCELLON EDUCATION LIMITED,,AHMEDABAD vs. ADDL. CIT, TDS,, AHMEDABAD

The appeal of the assessee is allowed

Bench: Smt.Annapurna Gupta & Shri Siddhartha Nautiyal

133A of the Act was carried out at the business premises of the assessee on 30.11.2015 by the Income Tax Authority of TDS Range, Ahmedabad. During the course of survey, it was observed by the survey team that the assessee had defaulted in deposit of TDS amounting to the tune of Rs.26,33,867/- to the Government account. The DCIT

XCELLON EDUCATION LIMITED,,AHMEDABAD vs. ADDL. CIT, TDS,, AHMEDABAD

The appeal of the assessee is allowed

Bench: Smt.Annapurna Gupta & Shri Siddhartha Nautiyal

133A of the Act was carried out at the business premises of the assessee on 30.11.2015 by the Income Tax Authority of TDS Range, Ahmedabad. During the course of survey, it was observed by the survey team that the assessee had defaulted in deposit of TDS amounting to the tune of Rs.26,33,867/- to the Government account. The DCIT

TULSI REALITY,VADODARA vs. THE PR. CIT-1, VADODARA

The appeal of the assessee is dismissed

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita No.134/Ahd/2022 िनधा"रण वष" /Assessment Year : 2017-18 Tulsi Reality The Pr.Cit-1 बनाम/ G5 Anand Deep Complex Vadodara – 390 007 V/S. Gotri Road (Gujarat) Gotri, Vadodara – 390 021 (Gujarat) "थायी लेखा सं./Pan: Aafft 8908 B (अपीलाथ&/ Appellant) ('( यथ&/ Respondent) Assessee By : Ms. Urvashi Shodhan, Ar Revenue By : Shri Prathvi Raj Meena, Cit-Dr सुनवाई की तारीख/Date Of Hearing : 27/01/2025 घोषणा की तारीख /Date Of Pronouncement: 30/01/2025 आदेश/O R D E R Per Makarand V. Mahadeokar, Am: This Appeal Is Filed By The Assessee Against The Order Dated 29.03.2022 Passed By The Ld. Principal Commissioner Of Income Tax, Vadodara-1 (Hereinafter Referred To As "Pcit") Under Section 263 Of The Income Tax Act, 1961 (Hereinafter Referred To As "The Act") For The Assessment Year (Ay) 2017- 18, Setting Aside The Assessment Order Passed By The Assessing Officer (Hereinafter Referred To As “Ao”) Under Section 143(3) Of The Act Dated 12.12.2019. Tulsi Reality Vs. The Pr.Cit-1 Asst. Year : 2017-18

133A of the Act was conducted at the premises of the assessee on 30.08.2016. During the survey, the assessee admitted an undisclosed income of Rs.50,10,000/- and stated that this amount represented receipts related to business activities. The admitted income was subsequently included in the return of income and reflected in the financial statements of the assessee

N.K. INDUSTRIES LTD.,AHMEDABAD vs. THE DY.CIT, CIRCLE-3(1)(1), AHMEDABAD

In the result, the appeal of the assessee on this ground is allowed

Bench: Dr. B.R.R. Kumarms. Suchitra Kamble

133A of the Act, and that the modus operandi adopted by NK Proteins and its clients was explained by him. The relevant para is para 7.6 of the order. The same is summarized as under:- I) NK Proteins is Member Broker on NSEL. II) NK Inds. being client of NK Proteins executes T+3 contract on the electronic platform

THE DY.CIT, CIRCLE-3(1)(1)., AHMEDABAD vs. N.K. INDUSTRIES LTD., AHMEDABAD

In the result, the appeal of the assessee on this ground is allowed

Bench: Dr. B.R.R. Kumarms. Suchitra Kamble

133A of the Act, and that the modus operandi adopted by NK Proteins and its clients was explained by him. The relevant para is para 7.6 of the order. The same is summarized as under:- I) NK Proteins is Member Broker on NSEL. II) NK Inds. being client of NK Proteins executes T+3 contract on the electronic platform

THE DY.CIT, CIRCLE-3(1)(1)., AHMEDABAD vs. N.K. INDUSTRIES LTD., AHMEDABAD

In the result, the appeal of the assessee on this ground is allowed

Bench: Dr. B.R.R. Kumarms. Suchitra Kamble

133A of the Act, and that the modus operandi adopted by NK Proteins and its clients was explained by him. The relevant para is para 7.6 of the order. The same is summarized as under:- I) NK Proteins is Member Broker on NSEL. II) NK Inds. being client of NK Proteins executes T+3 contract on the electronic platform

N.K. INDUSTRIES LTD.,AHMEDABAD vs. THE DY.CIT, CIRCLE-3(1)(1), AHMEDABAD

In the result, the appeal of the assessee on this ground is allowed

Bench: Dr. B.R.R. Kumarms. Suchitra Kamble

133A of the Act, and that the modus operandi adopted by NK Proteins and its clients was explained by him. The relevant para is para 7.6 of the order. The same is summarized as under:- I) NK Proteins is Member Broker on NSEL. II) NK Inds. being client of NK Proteins executes T+3 contract on the electronic platform

N K PROTEINS PVT. LIMITED,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE- 3(1)(1), AHMEDABAD

In the result, no question of law arises

Bench: Dr. B.R.R. Kumar, Vice-Shri T.R. Senthil Kumar

133A of the Act. In the statement recorded, he explained in detail the trading activities carried out by N.K. Proteins Ltd. as well as its subsidiary concerns on the platform of National Spot Exchange Ltd. He stated that in the year 2008, M/s. N.K. Proteins Ltd. became the member of National Spot Exchange Ltd. The subsidiary concerns

THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), AHMEDABAD vs. N K PROTEINS PRIVATE LIMITED, AHMEDABAD

In the result, no question of law arises

Bench: Dr. B.R.R. Kumar, Vice-Shri T.R. Senthil Kumar

133A of the Act. In the statement recorded, he explained in detail the trading activities carried out by N.K. Proteins Ltd. as well as its subsidiary concerns on the platform of National Spot Exchange Ltd. He stated that in the year 2008, M/s. N.K. Proteins Ltd. became the member of National Spot Exchange Ltd. The subsidiary concerns

HUBTOWN BUS TERMINAL (AHMEDABAD) PRIVATE LIMITED,AHMEDABAD vs. DCIT CIRCLE(TDS), AHMEDABAD, AHMEDABAD

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

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

u/s 201(1A). The Learned ADDL/JCIT (A)-2, Mumbai, has erred in confirming this order. 3. Without prejudice to above, the Learned ADDL/JCIT(A)-2, Mumbai, was not justified in confirming entire amount of interest levied by Learned Income Tax officer, TDS Circle (TDS); some amounts were not at all chargeable to interest and some amounts related to proceeding year

THE DCIT, CIRCLE-2(1)(2),, AHMEDABAD vs. M/S. LAMBDA THERAPEUTIC RESEARCH LTD.,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

TDS on payment ,of Rs 19,86,207/- made on account of consultancy fees to tax residents of USA & Canada without appreciating that such incomes were taxable in India in terms of Section 9(1)(vii) of the IT Act and also as per the provisions of respective DTAA's. ( Page166 of the appellate order). 8.1 In any case

LAMBDA THERAPEUTIC RESEARCH LIMITED,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

TDS on payment ,of Rs 19,86,207/- made on account of consultancy fees to tax residents of USA & Canada without appreciating that such incomes were taxable in India in terms of Section 9(1)(vii) of the IT Act and also as per the provisions of respective DTAA's. ( Page166 of the appellate order). 8.1 In any case

DY.COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, AHMEDABAD vs. M/S. LAMDA THERAPEUTIC RESEARCH LTD.,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

TDS on payment ,of Rs 19,86,207/- made on account of consultancy fees to tax residents of USA & Canada without appreciating that such incomes were taxable in India in terms of Section 9(1)(vii) of the IT Act and also as per the provisions of respective DTAA's. ( Page166 of the appellate order). 8.1 In any case

LAMBDA THERAPEUTIC RESEARCH LTD.,,AHMEDABAD vs. DCIT CIRCLE-2(1) (2),, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

TDS on payment ,of Rs 19,86,207/- made on account of consultancy fees to tax residents of USA & Canada without appreciating that such incomes were taxable in India in terms of Section 9(1)(vii) of the IT Act and also as per the provisions of respective DTAA's. ( Page166 of the appellate order). 8.1 In any case

THE ACIT, CIRCLE-2(1)(2),, AHMEDABAD vs. LAMBDA THERAPEUTIC RESEARCH LTD.,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

TDS on payment ,of Rs 19,86,207/- made on account of consultancy fees to tax residents of USA & Canada without appreciating that such incomes were taxable in India in terms of Section 9(1)(vii) of the IT Act and also as per the provisions of respective DTAA's. ( Page166 of the appellate order). 8.1 In any case

LAMBDA THERAPEUTIC RESEARCH LIMITED,,AHMEDABAD vs. THE JT. CIT, RANGE-4,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

TDS on payment ,of Rs 19,86,207/- made on account of consultancy fees to tax residents of USA & Canada without appreciating that such incomes were taxable in India in terms of Section 9(1)(vii) of the IT Act and also as per the provisions of respective DTAA's. ( Page166 of the appellate order). 8.1 In any case

AQUAFIL POLYMERS CO.PVT.LTD.,AHMEDABAD vs. THE DY.CIT, TDS CIRCLE,, AHMEDABAD

In the result, the appeal of the assessee is allowed

survey u/s. 133A of the act was conducted in the premises of the assessee on 17th Dec, 2013 and the assessing officer has passed order u/s. 201(1)/201(1A) of the act on 20th Jan, 2014 stating that assessee has failed to deposit the tax deducted TDS

M/S. SINGHAL STEELS,VADODARA vs. THE ITO, TDS-2, VADODARA

In the result, the appeal filed by the Assessee is allowed for statistical purposes

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

u/s 133A(2A) was conducted at the business premises of the assessee on 12.01.2016. During the course of survey, AO noticed that no TCS was collected on the MS Scrap Sale of Rs.1,48,11,187/- which was pertaining to the period April 13 to October 13. Therefore, TCS liability of Rs.1,48,112/- @1% was determined to be payable