SHRI PIYUSH M DOBARIYA,VADODARA vs. THE ITO, WARD-5(4), VADODARA

In the result, the appeals filed by the Assessees are dismissed

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

section 45(1) of the act, any profits or gains arising from the transfer of a capital asset effected in the previous year I.T.A No. 595, 596 & 597/Ahd/2020 A.Ys. 2009-10 & 2010-11 Page No 10 Shri Piyush M. Dobariya vs. ITO & Ors. shall be chargeable to income-tax under the head "Capital gains" with certain conditions and exemptions

AJAY REGHUBHAI BHARWAD,VADODARA vs. THE ITO, WARD-1(2)(1), VADODARA

In the result, the appeals filed by the Assessees are dismissed

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

section 45(1) of the act, any profits or gains arising from the transfer of a capital asset effected in the previous year I.T.A No. 595, 596 & 597/Ahd/2020 A.Ys. 2009-10 & 2010-11 Page No 10 Shri Piyush M. Dobariya vs. ITO & Ors. shall be chargeable to income-tax under the head "Capital gains" with certain conditions and exemptions

GAJIBEN MAHOTJI THAKOR,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-3(3)(8), AHMEDABAD

In the result, appeal filed by the assessee is dismissed

Bench: SMT. ANNAPURNA GUPTA (Accountant Member), SHRI SIDDHARTHA NAUTIYAL (Judicial Member)

Section 127 of the Act as noted above clearly states that succeeding AO is not required to re-issue any notice to the assessee. The argument of the Ld. Counsel for the assessee therefore that succeeding AO in the present case i.e. ITO, Ward-3(3)(8) could have validly assumed jurisdiction to assess the case of the assessee only

UNIMED TECHNOLOGIES LIMITED,PANCHMAHAL vs. THE ACIT, CIRCLE-2(1)(1), VADODARA

Bench: S/Shri T.R. Senthil Kumar & Makarand V.Mahadeokarasstt.Year : 2016-17 Unimed Technologies Limited Acit, Cir.2(1)(1) Survey No.22 & 22, Vs. Vadodara. Baska, Ujeti Halol Panchmahal Pan : Aaace 4022 B Asstt.Year : 2016-17 Acit, Cir.2(1)(1) Unimed Technologies Limited Vadodara. Vs. Survey No.22 & 22, Baska, Ujeti Halol Panchmahal Pan : Aaace 4022 B (Applicant) (Responent) : Shri Bandish Soparkar, Ar Assessee By : Shri Sher Singh, Cit-Dr Revenue By सुनवाई क" तारीख/Date Of Hearing : 17/07/2025 घोषणा क" तारीख /Date Of Pronouncement: 24/07/2025 आदेश आदेश/O R D E R आदेश आदेश

gain / loss arising on account of different exchange rates prevailing as on the date of payment and date of booking the goods / asset is debited to the profit and loss account by the Appellant which is in accordance with the accounting system regularly employed by it as well as the Accounting Standard - 11 issued by the ICAI

M/S. SHRI RANG INFRASTRUCTURE PVT. LTD.,,GANDHINAGAR vs. DCIT, GANDHINAGAR CIRCLE, GANDHINAGAR

In the result, appeal of the assessee is partly allowed

Bench: Ms. Suchitra Kamble & Shri Narendra Prasad Sinhaassessment Year: 2013-14

127 of the Act does not hold any footing as the Assessing Officer while passing the Assessment Order has taken precaution by issuing notice under Section 143(2) and also 143(2) read with Section 129 of the Act was also passed and served to the assessee. In fact, the notices under Section 142(1) of the Act were issued

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 2(1)(1), VADODARA, RACE COURSE vs. UNIMED TECHNOLOGIES LIMITED, HALOL

Accordingly dismissed.\n18.9 Based on the findings and conclusions set out hereinabove, the\nappeal filed by the Revenue stands dismissed, whereas the appeal filed by\nthe assessee is partly allowed

gain / loss arising on account of\ndifferent exchange rates prevailing as on the date of payment and date of\nbooking the goods / asset is debited to the profit and loss account by the\nAppellant which is in accordance with the accounting system regularly\nemployed by it as well as the Accounting Standard - 11 issued by the ICAI.\n2.2

JHAVERI TRADING AND INVESTMENT PVT.LTD.,AHMEDABAD vs. THE DCIT, CENT. CIR. 1(1), AHMEDABAD

In the result, the appeal of the assessee is hereby allowed

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकर अपील सं./Ita Nos. 401 To 403/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2012-2013 To 2014-2015) & आयकर अपील सं./Ita Nos. 399 & 400/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2010-2011 & 2011-12)

capital gains in accommodation entries. (ix) The decision of Hon'ble Madhya Pradesh High Court in the case of Chain House International Pvt. Limited, ratio of such decision cannot be made applicable to present, as in the appellant's case no affidavits or confirmation of Mr. Shirish Shah was filed which proved that loan/ICD taken by Appellant is genuine, whereas

JHAVERI TRADING AND INVESTMENT PVT.LTD.,AHMEDABAD vs. THE DCIT, CENT. CIR. 1(1), AHMEDABAD

In the result, the appeal of the assessee is hereby allowed

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकर अपील सं./Ita Nos. 401 To 403/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2012-2013 To 2014-2015) & आयकर अपील सं./Ita Nos. 399 & 400/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2010-2011 & 2011-12)

capital gains in accommodation entries. (ix) The decision of Hon'ble Madhya Pradesh High Court in the case of Chain House International Pvt. Limited, ratio of such decision cannot be made applicable to present, as in the appellant's case no affidavits or confirmation of Mr. Shirish Shah was filed which proved that loan/ICD taken by Appellant is genuine, whereas

JHAVERI TRADING AND INVESTMENT PVT.LTD.,AHMEDABAD vs. THE DCIT, CENT. CIR. 1(1), AHMEDABAD

In the result, the appeal of the assessee is hereby allowed

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकर अपील सं./Ita Nos. 401 To 403/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2012-2013 To 2014-2015) & आयकर अपील सं./Ita Nos. 399 & 400/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2010-2011 & 2011-12)

capital gains in accommodation entries. (ix) The decision of Hon'ble Madhya Pradesh High Court in the case of Chain House International Pvt. Limited, ratio of such decision cannot be made applicable to present, as in the appellant's case no affidavits or confirmation of Mr. Shirish Shah was filed which proved that loan/ICD taken by Appellant is genuine, whereas

JHAVERI TRADING AND INVESTMENT PVT.LTD.,AHMEDABAD vs. THE DCIT, CENT. CIR. 1(1), AHMEDABAD

In the result, the appeal of the assessee is hereby allowed

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकर अपील सं./Ita Nos. 401 To 403/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2012-2013 To 2014-2015) & आयकर अपील सं./Ita Nos. 399 & 400/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2010-2011 & 2011-12)

capital gains in accommodation entries. (ix) The decision of Hon'ble Madhya Pradesh High Court in the case of Chain House International Pvt. Limited, ratio of such decision cannot be made applicable to present, as in the appellant's case no affidavits or confirmation of Mr. Shirish Shah was filed which proved that loan/ICD taken by Appellant is genuine, whereas

JHAVERI TRADING AND INVESTMENT PVT.LTD.,AHMEDABAD vs. THE DCIT, CENT. CIR. 1(1), AHMEDABAD

In the result, the appeal of the assessee is hereby allowed

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकर अपील सं./Ita Nos. 401 To 403/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2012-2013 To 2014-2015) & आयकर अपील सं./Ita Nos. 399 & 400/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2010-2011 & 2011-12)

capital gains in accommodation entries. (ix) The decision of Hon'ble Madhya Pradesh High Court in the case of Chain House International Pvt. Limited, ratio of such decision cannot be made applicable to present, as in the appellant's case no affidavits or confirmation of Mr. Shirish Shah was filed which proved that loan/ICD taken by Appellant is genuine, whereas

AARAV FINANCIAL SERVICES PVT. LTD.,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)

127 taxmam.com 547 (Gujarat) dated 21 20 21 Wherein the Honourable High Court upheld the 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

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)

127 taxmam.com 547 (Gujarat) dated 21 20 21 Wherein the Honourable High Court upheld the 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

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)

127 taxmam.com 547 (Gujarat) dated 21 20 21 Wherein the Honourable High Court upheld the 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

SAGAR 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)

127 taxmam.com 547 (Gujarat) dated 21 20 21 Wherein the Honourable High Court upheld the 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

DCIT, CENTRAL CIRCLE-1(1), AHMEDABAD vs. SMT. DENISHA RAJENDRA KESHWANI, AHMEDABAD

Appeal is dismissed

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita No.39/Ahd/2021 िनधा"रण वष" /Assessment Year : 2015-16 The Dcit Smt. Denisha Rajendra बनाम/ Central Circle-1(1) Keshwani V/S. Ahmedabad – 380 009 44, Asopalav Bungalows Nr.Muktidham Temple Thaltej, Ahmedabad – 380 054 (Gujarat) "थायी लेखा सं./Pan: Ahzpk 0889 K (अपीलाथ$/ Appellant) (%& यथ$/ Respondent) Assessee By : Shri Mehul K. Patel, Ar Revenue By : Shri Rignesh Das, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 30/01/2025 घोषणा की तारीख /Date Of Pronouncement: 06/02/2025 आदेश/O R D E R Per Makarand V. Mahadeokar, Am: The Present Appeal Has Been Filed By The Revenue Against The Order Of The Commissioner Of Income Tax (Appeals)-11, Ahmedabad [Hereinafter Referred To As “Cit(A)”], Dated 22.01.2021, For The Assessment Year (Ay) 2015-16, Wherein The Cit(A) Has Deleted The Addition Of Rs.1,17,78,534/- Made Under Section 68 Of The Income Tax Act, 1961 [Hereinafter Referred To As “The Act”] By The Dy. Commissioner Of Income Tax, Central Circle – 1(1), Dcit Vs. Smt. Denisha Rajendra Keshwani Asst. Year : 2015-16

127 of the Act, passed by the Pr CIT-3, Ahmedabad, vide order No. Pr.CIT- 3/Centralization/Amrapali Group/2014-15, dated 14.11.2014. Subsequently, due to a change in the incumbent officer, fresh notices under Section 142(1) of the Act were issued on 05.09.2017 and 27.10.2017. 3. During the scrutiny proceedings, the Assessing Officer (AO) observed that the assessee had declared Long Term

THE DCIT, CENTRAL CIRCLE-1(2),, AHMEDABAD vs. M/S. VOLGA INTERNATIONAL LTD.,, SARANGPUR

In the result appeal of the revenue is hereby dismissed

Bench: Shri Waseem Ahmed & Ms Madhumita Roy

capital gains was factually not correct. Therefore, after having regard to the facts and circumstances of the case and position of law on issue, in my considered opinion the action of the AO is not sustainable. Accordingly, the ground of appeal is allowed. 8. Being aggrieved by the order of the learned CIT(A), the Revenue is in appeal before

RANJITSINH KANUBHAI RATHOD,KALOL vs. ASSESSMENT UNIT,NFAC PRESENT JURISDICTION THE ITO, WARD-1, MEHSANA

Bench: Ms. Suchitra Kamble & Shri Narendra Prasad Sinha

127/- without appreciating fact and law of the case properly. 2. Notice issued u/s 148 dated 31.03.2021 is bad in law as the no proceedings u/s 147 r.w.s. 148 can be validly initiated on the basis of information and document received from the ITA Nos. 1802 to 1804/Ahd/2024 Ranjitsinh Kanubhai Rathod vs. ITO Asst.Years–2017-18 to 2019-20 search