VICKY RAJESH JHAVERI,AHMEDABAD vs. THE DY. CIT, CENT. CIRCLE-1(1), AHMEDABAD

In the result, all the four appeals of respective assessees are partly allowed

Bench: Ms. Suchitra Kamble (Judicial Member), Shri Makarand V. Mahadeokar (Accountant Member)

reopening related to transaction made with bogus concern of Shri Jignesh Shah. The head note of the order is as under: Section 68 read with section 148 of the income-tax Act 1961 Cash credit (Bogus sale of shares) Assessment year 2012-13 Assessee filed his return of income showing exemption of long term capital gain

VICKY RAJESH JHAVERI,AHMEDABAD vs. THE DY.CIT, CENT. CIRCLE-1(1), AHMEDABAD

In the result, all the four appeals of respective assessees are partly allowed

Bench: Ms. Suchitra Kamble (Judicial Member), Shri Makarand V. Mahadeokar (Accountant Member)

reopening related to transaction made with bogus concern of Shri Jignesh Shah. The head note of the order is as under: Section 68 read with section 148 of the income-tax Act 1961 Cash credit (Bogus sale of shares) Assessment year 2012-13 Assessee filed his return of income showing exemption of long term capital gain

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

reopen and/or assess the return with respect to six preceding years; however, there must be some incriminating material available with the Assessing Officer with respect to the sale transactions in the particular assessment year 20. For the foregoing reasons, it is not possible to state that the impugned order passed by the Tribunal suffers from any legal infirmity

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

reopen and/or assess the return with respect to six preceding years; however, there must be some incriminating material available with the Assessing Officer with respect to the sale transactions in the particular assessment year 20. For the foregoing reasons, it is not possible to state that the impugned order passed by the Tribunal suffers from any legal infirmity

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

reopen and/or assess the return with respect to six preceding years; however, there must be some incriminating material available with the Assessing Officer with respect to the sale transactions in the particular assessment year 20. For the foregoing reasons, it is not possible to state that the impugned order passed by the Tribunal suffers from any legal infirmity

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

reopen and/or assess the return with respect to six preceding years; however, there must be some incriminating material available with the Assessing Officer with respect to the sale transactions in the particular assessment year 20. For the foregoing reasons, it is not possible to state that the impugned order passed by the Tribunal suffers from any legal infirmity

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

reopen and/or assess the return with respect to six preceding years; however, there must be some incriminating material available with the Assessing Officer with respect to the sale transactions in the particular assessment year 20. For the foregoing reasons, it is not possible to state that the impugned order passed by the Tribunal suffers from any legal infirmity

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

reopen and/or assess the return with respect to six preceding years; however, there must be some incriminating material available with the Assessing Officer with respect to the sale transactions in the particular assessment year 20. For the foregoing reasons, it is not possible to state that the impugned order passed by the Tribunal suffers from any legal infirmity

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

reopen and/or assess the return with respect to six preceding years; however, there must be some incriminating material available with the Assessing Officer with respect to the sale transactions in the particular assessment year 20. For the foregoing reasons, it is not possible to state that the impugned order passed by the Tribunal suffers from any legal infirmity

SHRI ROHITJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

reopen and/or assess the return with respect to six preceding years; however, there must be some incriminating material available with the Assessing Officer with respect to the sale transactions in the particular assessment year 20. For the foregoing reasons, it is not possible to state that the impugned order passed by the Tribunal suffers from any legal infirmity

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

reopen and/or assess the return with respect to six preceding years; however, there must be some incriminating material available with the Assessing Officer with respect to the sale transactions in the particular assessment year 20. For the foregoing reasons, it is not possible to state that the impugned order passed by the Tribunal suffers from any legal infirmity

SHRI NAVINCHANDRA N. PATEL,VADODARA vs. THE ACIT, CIRCLE-1(2), VADODARA

In the result, the appeal of the assessee is allowed

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

reopening of the assessment in case of Shri Navin N. Patel, Vadodara for the AY.2012-13 U/s 147 of the Act. 1. Brief Details of the Assessee: The assessee, an individual is engaged in trading business of land for project developments and in shares & investments activity. The return of income for the asst. year under consideration was filed on 3O.O9.2012 declaring

TANVI SANDEEP MATHUR,AHMEDABAD vs. THE DCIT, CIRCLE-7(1), AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Smt. Annapurna Gupta & Ms. Suchitra Kambleassessment Year: 2011-12

reopening is not permissible where the issue has been examined at original assessment stage even if there is no discussion in Assessment Order. During the course of original assessment proceedings, the issue of capital gain

THAKORBHAI MAGANBHAI PATEL,VADODARA vs. THE ITO, WARD- 3(1)(1), VADODARA

reopening itself was\ninvalid and, without prejudice, no addition either on account of capital gains\nor alleged on-money could be sustained in A.Y. 2008-09.\n8. In response, the Ld. DR placed reliance on the observations made by\nthe Assessing

SHAILESH S. JHAVERI,AHMEDABAD vs. THE DY.CIT, CENT. CIRCLE-1(1), AHMEDABAD

In the result, the appeal of the assessee is dismissed for both the year under consideration

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

capital gains and loss, both STCG/STCL and LTCG/LTCL as per their statements, their averments cannot be stretched/extended arbitrarily to mean that they are applicable to trading transactions also. 5. That on facts, and in law, the learned CIT(A) has grievously erred in not appreciating that the provisions of Section 132(4A) are applicable in case of Shri Shirish Shah

SHAILESH SUBODHCHANDRA JHAVERI,AHMEDABAD vs. THE DY.CIT, CENTRAL CIRCLE-1(1), AHMEDABAD

In the result, the appeal of the assessee is dismissed for both the year under consideration

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

capital gains and loss, both STCG/STCL and LTCG/LTCL as per their statements, their averments cannot be stretched/extended arbitrarily to mean that they are applicable to trading transactions also. 5. That on facts, and in law, the learned CIT(A) has grievously erred in not appreciating that the provisions of Section 132(4A) are applicable in case of Shri Shirish Shah

SHAILESH SUBODHCHANDRA JHAVERI,AHMEDABAD vs. THE DY.CIT, CENTRAL CIRCLE-1(1), AHMEDABAD

In the result, the appeal of the assessee is dismissed for both the year under consideration

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

capital gains and loss, both STCG/STCL and LTCG/LTCL as per their statements, their averments cannot be stretched/extended arbitrarily to mean that they are applicable to trading transactions also. 5. That on facts, and in law, the learned CIT(A) has grievously erred in not appreciating that the provisions of Section 132(4A) are applicable in case of Shri Shirish Shah

ARCOY INDUSTRIES (INDIA) PRIVATE LIMITED,AHMEDABAD vs. THE DCIT, CIRCLE-1(1)(1), AHMEDABAD

In the result, all the captioned four appeals of the assessee are hereby allowed

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinha

capital expenses of Rs. 15,20,84,459/- in Dishman Infrastructure Ltd. 6. He deposed that pen drive kept in cabin of Vajibhai Parmar at Dishman Corporate House contains details of accommodation entries. Thereafter, he explained accommodation entries of which are of nature of sales, purchases, commission & L&A. 8. He explained in detail about pen drive kept in Dishman