L/H LATE SHRI ARVINDBHAI NARSINHBHAI PATEL (SHRI PARESHBHAI PATEL),VADODARA vs. THE PR. CIT-1, VADODARA

In the result, the appeal preferred by the assessee is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

260/- were said to be purchased before the due date of filing of return of income for A.Y. 2010-11 and remaining four properties amounting to Rs.64,47,347/- were said to be purchased after 31/07/2010. As stipulated in Section 54B of the Act, the amount was firstly required to be deposited in the Capital Gain

SHRI RAMESHKUMAR TRIKAMLAL PADHIYAR,,AHMEDABAD vs. THE JT.CIT, CIRCLE-7,, AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Amarjit Singhआयकर अपील सं./ Ita No.322/Ahd/2015 "नधा"रण वष"/Asstt. Year: 2010-11 Shri Rameshkumar Trikamlal Padhiyar Vs. Jcit, Cir.7 B-604, Prayag Apts., Ahmedabad. Opp: Nirma Vihar School Bodakdev Ahmedabad 380 054. Pan : Ackpp 6965 H

section 10 of the Act would be what the assessee has, in fact, expended or laid out for the purpose of acquiring the asset" 4 The above referred lines clearly ascertain that the assessee's claim of considering the interest expense as a part of cost of the asset is correct and justified. Further, the assessee has not even claimed

ACIT CC 2(3) AHMEDABAD, AHMEDABAD vs. AISHA DHIRAJ GOGIA, AHMEDABAD

In the result: 50. To summarize the final outcome:

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinha["ी संजय गग", "ाियक सद" एवं "ी नरे" साद िस!ा, लेखा सद" के सम#।]

Capital Gains under section 10(38) of the Act, treating the underlying shares as "penny stocks"; and (iv) Addition on account of alleged on-money received on the sale of property in the Earth Erita project. These additions were made based on material allegedly found during the search action, including digital data like WhatsApp chats retrieved from third-party mobile

SHAMA AJAY PATEL,AHMEDABAD vs. THE CIT(IT & TP), AHMEDABAD

The appeal of the assessee is allowed

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarिनधा"रण वष"/Assessment Year: 2017-18 Shama Ajay Patel, Vs. 2, Chandroday Society, The Cit(It & Tp), Opp. Golden Triangle, Sp Ahmedabad Stadium Road, Navjivan Post, Ahmedabad-380014 Pan : Alxpp 5273 E अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" "" यथ" "" "" यथ" यथ"/ (Respondent) यथ" Assessee By : Shri Sunil Talati, Ar Revenue By : Dr. Darsi Suman Ratnam, Cit-Dr सुनवाई क" तारीख/Date Of Hearing : 01.02.2024 घोषणा क" तारीख /Date Of Pronouncement: 26.04.2024 आदेश आदेश/O R D E R आदेश आदेश Per Annapurna Gupta: The Present Appeal Filed By The Assessee Is Directed Against The Order Passed By The Learned Commissioner Of Income-Tax (It & Tp), Ahmedabad [Hereinafter Referred To As Ld. "Cit(It & Tp)" For Short] Dated 08.02.2023, In Exercise Of His Revisionary Powers Under Section 263 Of The Income-Tax Act, 1961 [Hereinafter Referred To As “The Act”], For The Assessment Year (Ay) 2017-18. 2. The Grounds Raised By The Assessee Challenging The Impugned Order Of The Ld. Cit (It & Tp) Reads As Under:- “1. The Ld. Cit Has Erred In Passing Order U/S 263 Without Jurisdiction & Appropriate Powers Available Under The Act. It Is Submitted That The Order Passed U/S. 263 Is Bad In Law As A.O. Has Neither Committed Any Error Nor It Is Prejudicial To The Interest Of Revenue. It Be Held Now.

Section 263 of the Act as found by the ld. CIT (IT & TP). 10. Undoubtedly, the assessment order sought to be revised was passed u/s 147 of the Act on reopening the case of the assessee for the specific reason that the Assessing Officer had information regarding the dubious dealing in shares of M/s. Kushal Limited. Clearly, the scope

RAJESH BALVANTRAI BRAHMBHATT,AHMEDABAD vs. THE PR. CIT(CENTRAL), AHMEDABAD

In the result, the appeals of the assessee is allowed

Bench: Shri Siddhartha Nautiyal & Shri Makarand V.Mahadeokar

capital gain in the return. The PCIT held that the Assessing Officer accepted this disclosure without adequate enquiry, although it related to advances received through Safal Engineers and Realties LLP. Thus, across the four years in appeal, the consolidated position is that the PCIT has found fault with (i) the non-taxation of alleged ITA No.1157 to 1160/Ahd/2025

RAJESH BALVANTRAI BRAHMBHATT,AHMEDABAD vs. THE PR. CIT(CENTRAL), AHMEDABAD

In the result, the appeals of the assessee is allowed

Bench: Shri Siddhartha Nautiyal & Shri Makarand V.Mahadeokar

capital gain in the return. The PCIT held that the Assessing Officer accepted this disclosure without adequate enquiry, although it related to advances received through Safal Engineers and Realties LLP. Thus, across the four years in appeal, the consolidated position is that the PCIT has found fault with (i) the non-taxation of alleged ITA No.1157 to 1160/Ahd/2025

THE ITO, WARD-5(2)(3),, AHMEDABAD vs. SMT. DARSHINIBEN M. ADANI,, AHMEDABAD

In the result, appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Amarjit Singh"नधा"रण वष"/ Asstt.Year: 2011-12 Ito, Ward-5(2)(3) Smt. Darshiniben M. Adani Ahmedabad. Vs. 9, Maitri Society Opp: Goyal Tower Ambawadi, Ahmedabad Pan : Aatpa 6568 N

capital gain in the A.Y. under consideration has been dealt by the Hon'ble ITAT in the said order as under:- "12. We observe in these peculiar facts that the Revenue's latter plea that the above agreement to sell as well as the one handing over position are not valid since not registered documents does not deserve acceptance

TURAKHIA OVERSEAS PVT.LTD.,,AHMEDABAD vs. THE DCIT. CIRCLE 4(1)(3),, AHMEDABAD

In the result, the appeal of the assessee is dismissed

section 143(3) of the Income Tax Act, 1961; in short “the Act”. I.T.A No. 2407/Ahd/2017 A.Y. 2013-14 Page No 2 Turakhia Overseas Pvt. Ltd. vs. Dy. CIT 2. In the instant appeal, the assessee has filed two grounds of appeal on the issue in confirming the disallowance on account of short term capital gain treated as business income

SHRENIK HIRALAL SHAH,VADODARA, GUJARAT vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1(1)(1), VADODARA, GUJARAT

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

Bench: Ms. Suchitra Kamble & Shri Waseem Ahmedassessment Year : 2010-11 Shri Shrenik Hiralal Shah The Asstt.Cit 5/A Vrundavan Bungalows Vs Circle-1(1)91) Near Mathura Nagari, Tandalja Vadodara Vadodara -390 020 Gujarat, India Pan: Apnps 0058 Q अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Ms.Amrion Pathan, Ar Revenue By : Shri B.P. Makwana, Sr.Dr सुनवाई क" तार"ख/Date Of Hearing : 07/02/2024 घोषणा क" तार"ख /Date Of Pronouncement: 14/02/2024 आदेश/O R D E R Per Ms. Suchitra Kamblethis Appeal Is Filed By The Assessee Against The Order Dated 31/10/2023 Passed By The Commissioner Of Income-Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi [“Cit(A)” In Short] For Assessment Year 2010-11. 2. Grounds Of Appeal Are As Under:

gain at Rs.37,01,433 as against Rs. 15,39,710 computed by the Appellant. 6) The learned CIT(A) has erred in facts and in law in confirming the action of the learned AO in assessing the sale consideration at Rs.48,86,816 by invoking the provision of section 50C of the Act as against the actual sale consideration

RAJESH BALVANTRAI BRAHMBHATT,AHMEDABAD vs. THE PR. CIT(CENTRAL), AHMEDABAD

In the result, the appeals of the assessee is allowed

capital gain in the return. The PCIT held that the\nAssessing Officer accepted this disclosure without adequate enquiry,\nalthough it related to advances received through Safal Engineers and\nRealities LLP.\nThus, across the four years in appeal, the consolidated position\nis that the PCIT has found fault with (i) the non-taxation of alleged\non-money receipts from the Makarba

RAJESH BALVANTRAI BRAHMBHATT,AHMEDABAD vs. THE PR. CIT(CENTRAL), AHMEDABAD

In the result, the appeals of the assessee is allowed

capital gain in the return. The PCIT held that the\nAssessing Officer accepted this disclosure without adequate enquiry,\nalthough it related to advances received through Safal Engineers and\nRealities LLP.\nThus, across the four years in appeal, the consolidated position\nis that the PCIT has found fault with (i) the non-taxation of alleged\non-money receipts from the Makarba

GENUINE FINANCE PVT. LTD.,AHMEDABAD vs. THE DCIT, CIRCLE-2(1)(1), AHMEDABAD

The appeal of the assessee is allowed

Bench: Ms. Suchitra Kamble

capital gain under Section 10(38) during the year and even in past or subsequent years. The Ld. AR further submitted that the assessee’s assessment for A.Y. 2011-12 was also re-opened under Section 147 on similar reason i.e. trading in shares of VAS Infrastructure Ltd., which was assessed under Section 143(3) r.w.s. 147 by Dy. Commissioner

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1), AHMEDABAD, AHMEDABAD vs. ARVIND LIMITED, AHMEDABAD

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

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamblearvind Limited, Dcit Vs. Naroda Road, Nfac, Delhi Ahmedabad-380025 (Dcit, Circle 1(1)(1), [Pan : Aabca 2398 D] Ahmedabad) Arvind Limited, Vs. Acit, Circle 1(1)(1), Naroda Road, Ahmedabad Ahmedabad-380025 [Pan : Aabca 2398 D]

Section 250 of the Income- tax Act, 1961 [hereinafter referred to as "the Act" for short] dated 23.01.2024 for Assessment Year (AY) 2018-19. Since the issues are common and appeals are inter-connected, the same are being disposed of by this common order for the sake of convenience. ITA No. 349 & 466/Ahd/2024 Assessee : Arvind Limited Asst. Year

ARVIND LIMITED,AHMEDABAD vs. NFAC, DELHI PRESENT JURISDICTION THE DCIT, CIRCLE-1(1)(1), AHMEDABAD

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

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamblearvind Limited, Dcit Vs. Naroda Road, Nfac, Delhi Ahmedabad-380025 (Dcit, Circle 1(1)(1), [Pan : Aabca 2398 D] Ahmedabad) Arvind Limited, Vs. Acit, Circle 1(1)(1), Naroda Road, Ahmedabad Ahmedabad-380025 [Pan : Aabca 2398 D]

Section 250 of the Income- tax Act, 1961 [hereinafter referred to as "the Act" for short] dated 23.01.2024 for Assessment Year (AY) 2018-19. Since the issues are common and appeals are inter-connected, the same are being disposed of by this common order for the sake of convenience. ITA No. 349 & 466/Ahd/2024 Assessee : Arvind Limited Asst. Year

THE ACIT, PATAN CIRCLE,, PATAN vs. AJAY ENGINEERING INFRASTRUCTURE PVT. LTD.,, UNJHA

In the result appeal of the Revenue in ITA no

Bench: Shri Ramit Kochar & Ms. Madhumita Royassessment Year: 2009-10 Assessment Year:2010-11 Assessment Year: 2011-12 Assessment Year: 2013-14 Ita Nos. 1621/Ahd/2017 Assessment Year: 2014-15 The Acit, Patan Circle, Room No.104, Ajay Engineering Infrastructure 1St Floor, Santokba Hall, Rajmahal V. Pvt. Ltd., 98, Old Market Yard, Road, Patan-384265, Gujarat Unjha-384170 Gujarat Pan:Aagca8877L (Appellant) (Respondent) Assessment Year: 2014-15 The Dcit, Patan Circle, Room M/S Ajay Protech Pvt. Ltd., 59, No.101/4, 1St Floor, Chinmay V. Pratap Chambers 1St Floor, Near Corporate House, Patan-Deesa Railway Circle, Unjha-384170, Highway, Patan-384265,Gujarat Gujarat Pan:Aajca4095R (Appellant) (Respondent) Assessee By: Sh. S.N. Soparkar, Sr. Advocate & Sh. Parin Shah, A.R. Revenue By: Sh. Chetram Meena, Sr. Dr Date Of Hearing: 24.01.2024 Date Of Pronouncement: 19.04.2024

260/- . The assessee has claimed deduction of Rs. 1,87,70,901/- u/s 80IA(4) of the 1961 Act. The case of the assessee was selected by Revenue for framing scrutiny assessment u/s 143(3) read with Section 143(2) of the 1961 Act. The AO has observed that the assessee is engaged in the business of Civil Construction

THE DY.COMMISSIONER OF INCOME TAX, PATAN CIRCLE,, PATAN vs. AJAY ENGG. INFRASTRUCTURE PVT. LTD.,, UNJHA

In the result appeal of the Revenue in ITA no

Bench: Shri Ramit Kochar & Ms. Madhumita Royassessment Year: 2009-10 Assessment Year:2010-11 Assessment Year: 2011-12 Assessment Year: 2013-14 Ita Nos. 1621/Ahd/2017 Assessment Year: 2014-15 The Acit, Patan Circle, Room No.104, Ajay Engineering Infrastructure 1St Floor, Santokba Hall, Rajmahal V. Pvt. Ltd., 98, Old Market Yard, Road, Patan-384265, Gujarat Unjha-384170 Gujarat Pan:Aagca8877L (Appellant) (Respondent) Assessment Year: 2014-15 The Dcit, Patan Circle, Room M/S Ajay Protech Pvt. Ltd., 59, No.101/4, 1St Floor, Chinmay V. Pratap Chambers 1St Floor, Near Corporate House, Patan-Deesa Railway Circle, Unjha-384170, Highway, Patan-384265,Gujarat Gujarat Pan:Aajca4095R (Appellant) (Respondent) Assessee By: Sh. S.N. Soparkar, Sr. Advocate & Sh. Parin Shah, A.R. Revenue By: Sh. Chetram Meena, Sr. Dr Date Of Hearing: 24.01.2024 Date Of Pronouncement: 19.04.2024

260/- . The assessee has claimed deduction of Rs. 1,87,70,901/- u/s 80IA(4) of the 1961 Act. The case of the assessee was selected by Revenue for framing scrutiny assessment u/s 143(3) read with Section 143(2) of the 1961 Act. The AO has observed that the assessee is engaged in the business of Civil Construction

THE DY. CIT, PATAN CIRCLE,, PATAN vs. AJAY ENGINEERING INFRASTRUCTURE PVT. LTD.,, UNJHA

In the result appeal of the Revenue in ITA no

Bench: Shri Ramit Kochar & Ms. Madhumita Royassessment Year: 2009-10 Assessment Year:2010-11 Assessment Year: 2011-12 Assessment Year: 2013-14 Ita Nos. 1621/Ahd/2017 Assessment Year: 2014-15 The Acit, Patan Circle, Room No.104, Ajay Engineering Infrastructure 1St Floor, Santokba Hall, Rajmahal V. Pvt. Ltd., 98, Old Market Yard, Road, Patan-384265, Gujarat Unjha-384170 Gujarat Pan:Aagca8877L (Appellant) (Respondent) Assessment Year: 2014-15 The Dcit, Patan Circle, Room M/S Ajay Protech Pvt. Ltd., 59, No.101/4, 1St Floor, Chinmay V. Pratap Chambers 1St Floor, Near Corporate House, Patan-Deesa Railway Circle, Unjha-384170, Highway, Patan-384265,Gujarat Gujarat Pan:Aajca4095R (Appellant) (Respondent) Assessee By: Sh. S.N. Soparkar, Sr. Advocate & Sh. Parin Shah, A.R. Revenue By: Sh. Chetram Meena, Sr. Dr Date Of Hearing: 24.01.2024 Date Of Pronouncement: 19.04.2024

260/- . The assessee has claimed deduction of Rs. 1,87,70,901/- u/s 80IA(4) of the 1961 Act. The case of the assessee was selected by Revenue for framing scrutiny assessment u/s 143(3) read with Section 143(2) of the 1961 Act. The AO has observed that the assessee is engaged in the business of Civil Construction

THE DY. CIT, PATAN CIRCLE,, PATAN vs. AJAY ENGINEERING INFRASTRUCTURE PVT. LTD.,, UNJHA

In the result appeal of the Revenue in ITA no

Bench: Shri Ramit Kochar & Ms. Madhumita Royassessment Year: 2009-10 Assessment Year:2010-11 Assessment Year: 2011-12 Assessment Year: 2013-14 Ita Nos. 1621/Ahd/2017 Assessment Year: 2014-15 The Acit, Patan Circle, Room No.104, Ajay Engineering Infrastructure 1St Floor, Santokba Hall, Rajmahal V. Pvt. Ltd., 98, Old Market Yard, Road, Patan-384265, Gujarat Unjha-384170 Gujarat Pan:Aagca8877L (Appellant) (Respondent) Assessment Year: 2014-15 The Dcit, Patan Circle, Room M/S Ajay Protech Pvt. Ltd., 59, No.101/4, 1St Floor, Chinmay V. Pratap Chambers 1St Floor, Near Corporate House, Patan-Deesa Railway Circle, Unjha-384170, Highway, Patan-384265,Gujarat Gujarat Pan:Aajca4095R (Appellant) (Respondent) Assessee By: Sh. S.N. Soparkar, Sr. Advocate & Sh. Parin Shah, A.R. Revenue By: Sh. Chetram Meena, Sr. Dr Date Of Hearing: 24.01.2024 Date Of Pronouncement: 19.04.2024

260/- . The assessee has claimed deduction of Rs. 1,87,70,901/- u/s 80IA(4) of the 1961 Act. The case of the assessee was selected by Revenue for framing scrutiny assessment u/s 143(3) read with Section 143(2) of the 1961 Act. The AO has observed that the assessee is engaged in the business of Civil Construction