JET AIR AGENCIES PVT LTD,WEST BENGAL vs. CENTRAL CIRCLE 2(3)AHMEDABAD, AHMEDABAD

In the result, Ground Nos

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

Section 133A of the Act and from the records, it is seen that during the year under consideration, the assessee had ITA Nos.1594 to 1597/Ahd/2019 & 685/Ahd/2023 Jet Air Agencies Pvt. Ltd. vs. ACIT Asst.Years– 2010-11 to 2012-13 provided contrived losses to several entities by providing bogus losses on NMCE platform and the assessee had not disclosed the additional

JET AIR AGENCIES PVT. LTD,WEST BENGAL vs. THE ACIT, CENTRA CIRCLE-2(3), AHMEDABAD

In the result, Ground Nos

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

Section 133A of the Act and from the records, it is seen that during the year under consideration, the assessee had ITA Nos.1594 to 1597/Ahd/2019 & 685/Ahd/2023 Jet Air Agencies Pvt. Ltd. vs. ACIT Asst.Years– 2010-11 to 2012-13 provided contrived losses to several entities by providing bogus losses on NMCE platform and the assessee had not disclosed the additional

JET AIR AGENCIES PVT. LTD,WEST BENGAL vs. THE ACIT, CENTRA CIRCLE-2(3), AHMEDABAD

In the result, Ground Nos

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

Section 133A of the Act and from the records, it is seen that during the year under consideration, the assessee had ITA Nos.1594 to 1597/Ahd/2019 & 685/Ahd/2023 Jet Air Agencies Pvt. Ltd. vs. ACIT Asst.Years– 2010-11 to 2012-13 provided contrived losses to several entities by providing bogus losses on NMCE platform and the assessee had not disclosed the additional

JET AIR AGENCIES PVT. LTD,WEST BENGAL vs. THE ACIT, CENTRA CIRCLE-2(3), AHMEDABAD

In the result, Ground Nos

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

Section 133A of the Act and from the records, it is seen that during the year under consideration, the assessee had ITA Nos.1594 to 1597/Ahd/2019 & 685/Ahd/2023 Jet Air Agencies Pvt. Ltd. vs. ACIT Asst.Years– 2010-11 to 2012-13 provided contrived losses to several entities by providing bogus losses on NMCE platform and the assessee had not disclosed the additional

JET AIR AGENCIES PVT. LTD,WEST BENGAL vs. THE ACIT, CENTRA CIRCLE-2(3), AHMEDABAD

In the result, Ground Nos

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

Section 133A of the Act and from the records, it is seen that during the year under consideration, the assessee had ITA Nos.1594 to 1597/Ahd/2019 & 685/Ahd/2023 Jet Air Agencies Pvt. Ltd. vs. ACIT Asst.Years– 2010-11 to 2012-13 provided contrived losses to several entities by providing bogus losses on NMCE platform and the assessee had not disclosed the additional

SHAILESH K PATEL-HUF,AHMEDABAD vs. ITO, WARD-3(3)(5), AHMEDABAD

In the result, appeal preferred by the assessee is dismissed

Bench: Ms. Suchitra Raghunath Kamble, Judical Member & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. No. 288/Ahd/2019 (िनधा"रण वष" िनधा"रण वष" िनधा"रण वष" / Assessment Year: 2015-16) िनधा"रण वष" Shailesh K. Patel Huf The Income Tax Officer बनाम बनाम/ बनाम बनाम C/O. Ketan H. Shah, Ward – 3(3)(5), Vs. Advocate Ahmedabad 512, Time Square – I, Op. Ram Baug Bungalow, Thaltej Shilaj Road, Thaltej, Ahmedabad, Gujarat 380059 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aalhs9548E (Appellant) .. (Respondent) Shri Ketan Shah & Shri Aman Shah, अपीलाथ" ओर से /Appellant By : A.Rs. ""यथ" क" ओर से/Respondent By : Shri Ashok Kumar Suthar, Sr. Dr 04/06/2024 Date Of Hearing Date Of Pronouncement 18/06/2024 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)-3, Ahmedabad, (In Short ‘The Cit(A)’) Dated 24.01.2019 For The Assessment Year 2015-16. 2. The Assessee Has Taken Following Grounds Of Appeal:

2) of the Act was issued to the assessee. In the course of assessment, the AO noticed that the assessee had claimed LTCG of Rs.73,29,100/- as exempt under Section 10(38) of the Act, which was derived on sale of shares of Lifeline Drugs & Pharma Ltd. (LDPL) and Mahavir Advanced Remedies Ltd. (MARL). In the course of assessment

THE ASSTT. COMMISSIONER OF INCOMETAX, CENTRAL CIRCLE-1(2), , AHMEDABAD vs. SANKALP VENTURE LLP, AHMEDABAD

In the result, the appeals in IT(SS)A No

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

purchases, brokerage, salaries, personal expenses and jewellery were seized. Statements of key employees of the group handling cash transactions were recorded. 2.1. Accordingly, assessee was called upon to show cause as to why the amount being unaccounted receipts should not be treated as undisclosed income u/s.68 of the Act and the amount being unaccounted payments incurred in cash should

SANKALP VENTURE LLP,AHMEDABAD vs. THE ASSTT. COMMISSIONER OF INCOMETAX, CENTRAL CIRCLE-1(2), , AHMEDABAD

In the result, the appeals in IT(SS)A No

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

purchases, brokerage, salaries, personal expenses and jewellery were seized. Statements of key employees of the group handling cash transactions were recorded. 2.1. Accordingly, assessee was called upon to show cause as to why the amount being unaccounted receipts should not be treated as undisclosed income u/s.68 of the Act and the amount being unaccounted payments incurred in cash should

SANKALP ORGANISERS PRIVATE LIMITED,AHMEDABAD vs. THE ASSTT. COMMISSIONER OF INCOMETAX, CENTRAL CIRCLE-1(2), , AHMEDABAD

In the result, the appeals in IT(SS)A No

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

purchases, brokerage, salaries, personal expenses and jewellery were seized. Statements of key employees of the group handling cash transactions were recorded. 2.1. Accordingly, assessee was called upon to show cause as to why the amount being unaccounted receipts should not be treated as undisclosed income u/s.68 of the Act and the amount being unaccounted payments incurred in cash should

ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(2), AHMEDABAD, AHMEDABAD vs. SANKALP ORGANISERS PVT LTD , AHMEDABAD

In the result, the appeals in IT(SS)A No

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

purchases, brokerage, salaries, personal expenses and jewellery were seized. Statements of key employees of the group handling cash transactions were recorded. 2.1. Accordingly, assessee was called upon to show cause as to why the amount being unaccounted receipts should not be treated as undisclosed income u/s.68 of the Act and the amount being unaccounted payments incurred in cash should

THE ACIT, CIRCLE-2(1)(2),, AHMEDABAD vs. KUNVARJI FINANCE PVT. LTD., AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar, Accountnat Member Assessment Year : 2014-15 The Acit Kunvarji Finance Pvt.Ltd. Circle-2(1)(2) Vs Block B, 1St Floor Ahmedabad Siddhi Vinayak Tower Off S.G. Highway Mouje Makarba, Ahmedabad Pan: Aaack 8759 R अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Bandish Soparkar, Ar Revenue By : Smt. Malarkodi R., Sr.Dr सुनवाई क" तार"ख/Date Of Hearing : 20/06/2024 घोषणा क" तार"ख /Date Of Pronouncement: 02/07/2024 आदेश/O R D E R Per Shri Makarand V. Mahadeokar, Am:

bogus capital gains to the counter party. 3. The Ld. CIT(A) has erred in law and on facts in deleting the disallowance of Rs.13,45,857/- made by AO on account speculation loss claimed under the head of income from other sources? 3.1 The Ld. CIT(A) has failed to appreciate that the transaction being done through stock exchange

SMT. SHITAL SANJAYBHAI PATEL,BHAVNAGAR vs. ITO, WARD-1(5),, BHAVNAGAR

Bench: Ms Suchitra Kamble & Shri Narendra Prasad Sinhaआयकर अपील सं./Ita No. 452/Ahd/2018 "नधा"रण वष"/Asstt. Year: 2014-2015

56,940/- and Long term capital gain(LTCG) amounting to Rs.2,23,95,400/-. The said return was processed u/s.143(1) of the Act. The case of the assessee was selected for scrutiny and notice u/s.143(2) of the Act was issued on 24.09.2015 and duly served upon the assessee. Subsequently, notice u/s.142(1) of the Act was issued

SHRI JIGNESH RAMJIBHAI PATEL,BHAVNAGAR vs. ITO, WARD-1(2),, BHAVNAGAR

Bench: Ms Suchitra Kamble & Shri Narendra Prasad Sinhaआयकर अपील सं./Ita No. 452/Ahd/2018 "नधा"रण वष"/Asstt. Year: 2014-2015

56,940/- and Long term capital gain(LTCG) amounting to Rs.2,23,95,400/-. The said return was processed u/s.143(1) of the Act. The case of the assessee was selected for scrutiny and notice u/s.143(2) of the Act was issued on 24.09.2015 and duly served upon the assessee. Subsequently, notice u/s.142(1) of the Act was issued

SHRI SANJAYBHAI RAMJIBHAI PATEL,,BHAVNAGAR vs. ITO, WARD-1(5),, BHAVNAGAR

Bench: Ms Suchitra Kamble & Shri Narendra Prasad Sinhaआयकर अपील सं./Ita No. 452/Ahd/2018 "नधा"रण वष"/Asstt. Year: 2014-2015

56,940/- and Long term capital gain(LTCG) amounting to Rs.2,23,95,400/-. The said return was processed u/s.143(1) of the Act. The case of the assessee was selected for scrutiny and notice u/s.143(2) of the Act was issued on 24.09.2015 and duly served upon the assessee. Subsequently, notice u/s.142(1) of the Act was issued

ITO, WD. 1(2)(2), RACE COURSE CIRCLE, VADODARA vs. NEETABEN SNEHALKUMAR PATEL, RACE COURSE CIRCLE, VADODARA

In the result, the appeal preferred by the Revenue is allowed

Bench: Ms. Suchitra Raghunath Kamble, Judical Member & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. No. 247/Ahd/2024 (िनधा"रण वष" िनधा"रण वष" िनधा"रण वष" / Assessment Years : 2014-15) िनधा"रण वष"

section 68 of the Act? 2. Whether on the facts and circumstances and in law, the Ld. Commissioner of Income-tax(Appeals) was justified in deleting the addition made u/s 68 of the Act, without appreciating the findings of the AO and also ignoring the larger scam of organized tax evasion by way of bogus capital gain generated in penny

SHRI UMANG HIRALAL THAKKAR,AHMEDABAD vs. THE DY.CIT.,CENT.CIRCLE-1(1),, AHMEDABAD

In the result, the appeal filed by the assessee bearing ITA No

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarआयकर अपील सं / Ita No. 2150/Ahd/2008 िनधा"रण वष"/Assessment Year: 2005-06 बनाम Shri Umang Hiralal Thakkar, The Dy. Commissioner Of Vs. Dharmadev House, Income-Tax, Shyamal Cross Road, Satellite, Central Circle 1(1), Ahmedabad – 380015 Ahmedabad Pan : Aavpt 8621 R आयकर अपील सं / Ita No. 2548/Ahd/2008 िनधा"रणवष"/Assessment Year: 2005-06 बनाम Shri Umang Hiralal Thakkar, The Dy. Commissioner Of Vs. 305, Sahajanand Plaza, Bhatta Income-Tax, Ch Ar Rasta, Paldi, Ahmedabad Central Circle 1(1), Pan : Aavpt 8621 R Ahmedabad अपीलाथ"/ (Appellant) अपीलाथ" "" यथ" "" यथ"/ (Respondent) अपीलाथ" अपीलाथ" "" "" यथ" यथ" िनधा"रती की ओर से / Assessee By : Shri Bandish Soparkar, Ar & Shri Parin Shah, Ar ""थ" की ओर से / Revenue By : Shri Akhilendra Pratap Yadav, Cit-Dr तारीख/Date Of Hearing : 09.05.2024 सुनवाई क" क" तारीख सुनवाई सुनवाई सुनवाई क" क" तारीख तारीख घोषणा क" क" तारीख तारीख /Date Of Pronouncement: 30.07.2024 घोषणा घोषणा घोषणा क" क" तारीख तारीख आदेश आदेश/O R D E R आदेश आदेश

section 68 of the Act on this count.” 6.4 As is evident from the above, the ITAT noted that the Assessing Officer had made addition in the absence of any evidence filed by the assessee. The ld. CIT(A) had admitted the additional evidences filed by the assessee in this regard, and after appreciating the same and seeking a report

THE DCIT, CENTRAL CIRCLE-1(1),, AHMEDABAD vs. SHRI UMANG H. THAKKAR, AHMEDABAD

In the result, the appeal filed by the assessee bearing ITA No

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarआयकर अपील सं / Ita No. 2150/Ahd/2008 िनधा"रण वष"/Assessment Year: 2005-06 बनाम Shri Umang Hiralal Thakkar, The Dy. Commissioner Of Vs. Dharmadev House, Income-Tax, Shyamal Cross Road, Satellite, Central Circle 1(1), Ahmedabad – 380015 Ahmedabad Pan : Aavpt 8621 R आयकर अपील सं / Ita No. 2548/Ahd/2008 िनधा"रणवष"/Assessment Year: 2005-06 बनाम Shri Umang Hiralal Thakkar, The Dy. Commissioner Of Vs. 305, Sahajanand Plaza, Bhatta Income-Tax, Ch Ar Rasta, Paldi, Ahmedabad Central Circle 1(1), Pan : Aavpt 8621 R Ahmedabad अपीलाथ"/ (Appellant) अपीलाथ" "" यथ" "" यथ"/ (Respondent) अपीलाथ" अपीलाथ" "" "" यथ" यथ" िनधा"रती की ओर से / Assessee By : Shri Bandish Soparkar, Ar & Shri Parin Shah, Ar ""थ" की ओर से / Revenue By : Shri Akhilendra Pratap Yadav, Cit-Dr तारीख/Date Of Hearing : 09.05.2024 सुनवाई क" क" तारीख सुनवाई सुनवाई सुनवाई क" क" तारीख तारीख घोषणा क" क" तारीख तारीख /Date Of Pronouncement: 30.07.2024 घोषणा घोषणा घोषणा क" क" तारीख तारीख आदेश आदेश/O R D E R आदेश आदेश

section 68 of the Act on this count.” 6.4 As is evident from the above, the ITAT noted that the Assessing Officer had made addition in the absence of any evidence filed by the assessee. The ld. CIT(A) had admitted the additional evidences filed by the assessee in this regard, and after appreciating the same and seeking a report