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

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:

section 147 of the Act which is invalid and bad in law and therefore, the assessment order deserves to be quashed. Recomputing Long-Term Capital Gain: 5) The learned CIT(A) has erred in facts and in law in confirming the action of the learned AO in recomputing the long-term capital gain at Rs.37,01,433

RAMESH GOVINDBHAI PATEL,,AHMEDABAD vs. ITO, WARD-6(1)(3),, AHMEDABAD

In the result, assessee’s appeal is allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

gains will be recomputed. With these directions, the matter stands restored to the file of the Assessing Officer for adjudication de novo, after giving an opportunity of hearing to the assessee and by way of a speaking order. I order so.” 4. Learned counsel then also invites our attention to a decision of Hon’ble Allahabad High Court

SHRENIK HIRALAL SHAH,VADODARA vs. INCOME TAX OFFICER, WARD 1(1)(3), VADODARA

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

Bench: Ms. Suchitra Raghunath Kamble, Judical Member & Shri Narendra Prasad Sinha

section 271(1)(c) of the Act. 4) The learned CIT(A) erred in fact and in law in confirming the action of the learned AO in levying a penalty u/s 271(1)(c) of the Act on addition made on account of long-term capital gain amounting to Rs. 37,01,433

DHARMENBHAI MAHENDRABHAI SUTARIA,AHMEDABAD vs. ACIT, CENTRAL CIRCLE-1(2), AHMEDABAD

In the result appeal of the assessee is hereby allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalasstt. Sr.No.

433 (SC), the Tribunal cancelled penalty levied under section 271(1)(c) on ground that Department had not discharged its burden of proving concealment and had simply rested its conclusion on assessee's act of voluntary surrender in good faith. The High Court, on reference, upheld Tribunal's findings. The Hon'ble Supreme Court held that no interference was called

DHARMENBHAI MAHENDRABHAI SUTARIA,HUF,AHMEDABAD vs. ACIT, CENTRAL CIRCLE-1(2), , AHMEDABAD

In the result appeal of the assessee is hereby allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalasstt. Sr.No.

433 (SC), the Tribunal cancelled penalty levied under section 271(1)(c) on ground that Department had not discharged its burden of proving concealment and had simply rested its conclusion on assessee's act of voluntary surrender in good faith. The High Court, on reference, upheld Tribunal's findings. The Hon'ble Supreme Court held that no interference was called

DHARMENBHAI MAHENDRABHAI SUTARIA,AHMEDABAD vs. ACIT, CENTRAL CIRCLE-1(2), AHMEDABAD

In the result appeal of the assessee is hereby allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalasstt. Sr.No.

433 (SC), the Tribunal cancelled penalty levied under section 271(1)(c) on ground that Department had not discharged its burden of proving concealment and had simply rested its conclusion on assessee's act of voluntary surrender in good faith. The High Court, on reference, upheld Tribunal's findings. The Hon'ble Supreme Court held that no interference was called

AXIS BANK LIMITED,AHMEDABAD vs. THE DY.CIT, CIRCLE-1 NOW CIRCLE-1(1)(1), AHMEDABAD

In the result appeal of the Revenue is partly allowed for statistical purposes

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedsl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 311/Ahd/2016 2010-11 Axis Bank Limited, D.C.I.T., “Trishul”, 3Rd Floor, Circle-1(1)(1) Opp. Samtheshwar Ahmedabad. Mahadev Near Law Garden, Ellisbridge, Ahmedabad-380006. Pan: Aaacu2414K 2. 2176/Ahd/2016 2011-12 Axis Bank Limited, D.C.I.T., “Trishul”, 3Rd Floor, Circle-1(1)(1) Opp. Samtheshwar Ahmedabad. Mahadev Near Law Garden, Ellisbridge, Ahmedabad-380006. Pan: Aaacu2414K 3. 2173/Ahd/2016 2011-12 D.C.I.T., Axis Bank Limited, Circle-1(1)(1) Ahmedabad. Ahmedabad. Pan: Aaacu2414K 4. 165/Ahd/2017 2012-13 Axis Bank Limited, D.C.I.T., Ahmedabad. Circle-1(1)(1) Ahmedabad. Pan: Aaacu2414K 5. 287/Ahd/2017 2012-13 D.C.I.T., Axis Bank Limited, Circle-1(1)(1) Ahmedabad. Ahmedabad. Pan: Aaacu2414K 6-7 520 & 2013-14 Axis Bank Limited, D.C.I.T., 521/Ahd/2018 & Ahmedabad. Circle-1(1)(1) 2014-15 Ahmedabad. Pan: Aaacu2414K 8-9 604 & 605/ 2013-14 D.C.I.T., Axis Bank Limited, Ahd/2018 & Circle-1(1)(1) Ahmedabad. 2014-15 Ahmedabad. Pan: Aaacu2414K

section 14A. 1.4 Having accepted that there was no Porrowing specific to any tax-free securities, no disallowance was warranted out of interest expenses having regard to adequate interest- free funds available in the form of paid-up share capital, reserves and interest-free current account balances of constituents, as held by the Hon. Gujarat

THE ACIT,(OSD), CIRCLE-9,, AHMEDABAD vs. SHRI PARESHKUMAR RAMANLAL JANI,, AHMEDABAD

In the result, the appeal of the revenue and the cross objection of the assessee are dismissed

capital gains. He further stated that in case the net consideration is not appropriated by the assessee I.T.A No. 3022 & CO No. 308/Ahd/2014 A.Y. 2010-11 Page No 3 ACIT vs. Pareshkumar Ramanlal Jani towards purchase of new asset within one year before the date on which the transfer of original asset took place or the amount which

DCIT, CENTRAL CIRCLE-1(2), AHMEDABAD, AAYAKAR BHAWAN, ASHRAM ROAD, AHMEDABAD vs. PARUL AROGYA SEVA MANDAL TRUST, , AHMEDABAD

Appeals are allowed

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar, Accountnat Member

433/- and hence total disclosure, of ITA No 991,992,993,1018 & 1019/Ahd/2023. Parul Arogya Seva Mandal Trust & Parul University (ITA 993/Ahd/2023) Asst. Years :2016-17 & 2017-18 18 Rs. 18.90 Crores as admitted during the course of survey statement has already been covered by disclosure in PMGKY viz the total amount of Rs. 10.90 Crores declared under PMGKY

PARUL AROGYA SEVA MANDAL TRUST,AHMEDABAD vs. THE DY.CIT, CENTRAL CIRCLE-1(2), AHMEDABAD

Appeals are allowed

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar, Accountnat Member

433/- and hence total disclosure, of ITA No 991,992,993,1018 & 1019/Ahd/2023. Parul Arogya Seva Mandal Trust & Parul University (ITA 993/Ahd/2023) Asst. Years :2016-17 & 2017-18 18 Rs. 18.90 Crores as admitted during the course of survey statement has already been covered by disclosure in PMGKY viz the total amount of Rs. 10.90 Crores declared under PMGKY

DCIT, CENTRAL CIRCLE1(2), AHMEDABAD, AHMEDABAD vs. PARUL AROGYA SEVA MANDAL TRUST, AHMEDABAD

Appeals are allowed

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar, Accountnat Member

433/- and hence total disclosure, of ITA No 991,992,993,1018 & 1019/Ahd/2023. Parul Arogya Seva Mandal Trust & Parul University (ITA 993/Ahd/2023) Asst. Years :2016-17 & 2017-18 18 Rs. 18.90 Crores as admitted during the course of survey statement has already been covered by disclosure in PMGKY viz the total amount of Rs. 10.90 Crores declared under PMGKY

PARUL UNIVERSITY,VADODARA vs. THE DY.CIT,EXEMPTION CIRCLE-1, AHMEDABAD

Appeals are allowed

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar, Accountnat Member

433/- and hence total disclosure, of ITA No 991,992,993,1018 & 1019/Ahd/2023. Parul Arogya Seva Mandal Trust & Parul University (ITA 993/Ahd/2023) Asst. Years :2016-17 & 2017-18 18 Rs. 18.90 Crores as admitted during the course of survey statement has already been covered by disclosure in PMGKY viz the total amount of Rs. 10.90 Crores declared under PMGKY

PARUL AROGYA SEVA MANDAL TRUST,AHMEDABAD vs. THE DY.CIT, CENTRAL CIRCLE-1(2), AHMEDABAD

Appeals are allowed

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar, Accountnat Member

433/- and hence total disclosure, of ITA No 991,992,993,1018 & 1019/Ahd/2023. Parul Arogya Seva Mandal Trust & Parul University (ITA 993/Ahd/2023) Asst. Years :2016-17 & 2017-18 18 Rs. 18.90 Crores as admitted during the course of survey statement has already been covered by disclosure in PMGKY viz the total amount of Rs. 10.90 Crores declared under PMGKY

MEENABEN RAMESHBHAI PARMAR,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-6(3),, AHMEDABAD

In the result, the appeal is allowed in the terms indicated above

section 143(3) of the Income tax Act, 1961 (‘the Act hereinafter’), for the Assessment Year 2009-10. 2. Ground no.1 is general and does not call for any specific adjudication. 3. In groundno.2, the grievance raised by the assessee is as follows :- “That without any prejudice to the aforesaid ground of this memorandum of appeal, on the facts

ZYDUS LIFESCIENCES LIMITED (FORMERLY KNOWN AS CADILA HEALTHCARE LTD.),AHMEDABAD vs. THE DCIT, CIRCLE-1(1)(1), AHMEDABAD

In the result, appeal preferred by the assessee is allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./I.T.A. No. 162/Ahd/2021 ("नधा"रण वष" / Assessment Years : 2016-17)

Capital Gain – [as per Return of income] Rs. 11,37,32,825/- D. Income from other sources [as per Return of income] Rs. 80,07,21,966/- Assessed Income Rs. 18,07,02,90,489/- Brought forward losses of Rs. 2,41,44,65,028/- Rs. Nil for A.Y. 2013-14 Adjusted fully by the Dept. while passing order

THE ACTI , CIRCLE-3(1)(1),, AHMEDABAD vs. NIRMA LIMITED,, AHMEDABAD

433/- (A.Y.\n2016-17).\n26. Before us, the learned AR reiterated that the issue is fully\ncovered by the orders of the Co-ordinate Bench in assessee's own\ncase for earlier years, which have attained finality. The AR also\npointed out relevant pages form the order of Co-ordinate Bench in\nassessee's own case in ITA No. 2224/Ahd/2017

NIRMA LIMITED,,AHMEDABAD vs. THE DCTI , CIRCLE-3(1)(1),, AHMEDABAD

433/- (A.Y.\n2016-17).\n26. Before us, the learned AR reiterated that the issue is fully\ncovered by the orders of the Co-ordinate Bench in assessee's own\ncase for earlier years, which have attained finality. The AR also\npointed out relevant pages form the order of Co-ordinate Bench in\nassessee's own case in ITA No. 2224/Ahd/2017