THE DCIT, CENTRAL CIRCLE-1(1),, AHMEDABAD vs. M/S. VENUS INFRASTRUCTURE & DEVELOPERS PVT. LTD.,, AHMEDABAD

In the result, the appeal of the Revenue is hereby dismissed

Bench: Ms Suchitra Kamble & Shri Waseem Ahmedआयकरअपीलसं./Ita Nos. 37 & 38/Ahd/2021 धििाधरणणवध/Asstt. Years: 2008-09 & 2017-18 D.C.I.T, M/S Venus Infrastructure & Central Circle-1(1), Vs. Developers Pvt. Ltd., Ahmedabad 1101 Venus Amadeus, Jodhpur Cross Road, Ahmedabad-380015. Pan: Aahcs6254J (Applicant) (Respondent) Revenue By : Shri Akhilendra Pratap Yadaw Assessee By : Shri Tushar Hemani, Sr. Advocate With Shri Parimalsinh B. Parmar & Shri Vijay Govani A.Rs सुिणाईकीतारीख/Date Of Hearing : 08/02/2024 घोवणाकीतारीख/Date Of Pronouncement: 14/02/2024 आदेश/O R D E R Per Waseem Ahmed: The Captioned Two Appeal Have Been Filed At The Instance Of The Revenue Against The Order Of The Learned Commissioner Of Income Tax (Appeals)-11, Ahmedabad, Of Even Dated 20/01/2021 Arising In The Matter Of Assessment Order Passed Under S. 147 R.W.S. 143(3) & 143(3) Of The Income Tax Act 1961 (Here- In-After Referred To As "The Act") Relevant To The Assessment Years 2008-09 & 2017-18. First, We Take Up Ita No. 38/Ahd/2021, An Appeal By The Revenue For Ay 2017-18

disallowed and added to the total income of the assessee. 25. The aggrieved assessee preferred an appeal before the Ld. CIT(A) and challenged the validity of the assessment order on various reasoning including on account of notice issued under section 148 r.w.s. 150(2) of the Act which was time barred, assessment was made without issuing valid notice under

AMBALAL SARABHAI ENTERPRISES LTD.,,BARODA vs. THE DY. COMMISSIONER OF INCOME TAX-1(1)(1),, BARODA

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

2 Employer’s 1290/Ahd/2016 2004-05 Assessee 10853589 9 Contribution to PF (Employees Contributio n) 3 Disallowance of PF 1772/Ahd/2015 2002-03 Assessee 9,83,308 3 Damages under 1773/Ahd/2015 2003-04 Assessee 10,79,540 3 Section 14B of the PF Act 1290/Ahd/2016 2004-05 Assessee 10,36,953 3 1594/Ahd/2016 2004-05 Revenue 17,28,256

AMBALAL SARABHAI ENTERPRISES LIMITED,,BARODA vs. THE ACIT.,CIRCLE-1(1),, BARODA

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

2 Employer’s 1290/Ahd/2016 2004-05 Assessee 10853589 9 Contribution to PF (Employees Contributio n) 3 Disallowance of PF 1772/Ahd/2015 2002-03 Assessee 9,83,308 3 Damages under 1773/Ahd/2015 2003-04 Assessee 10,79,540 3 Section 14B of the PF Act 1290/Ahd/2016 2004-05 Assessee 10,36,953 3 1594/Ahd/2016 2004-05 Revenue 17,28,256

AMBALAL SARABHAI ENTERPRISES LTD.,,BARODA vs. THE DY. COMMISSIONER OF INCOME TAX-1(1)(1),, BARODA

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

2 Employer’s 1290/Ahd/2016 2004-05 Assessee 10853589 9 Contribution to PF (Employees Contributio n) 3 Disallowance of PF 1772/Ahd/2015 2002-03 Assessee 9,83,308 3 Damages under 1773/Ahd/2015 2003-04 Assessee 10,79,540 3 Section 14B of the PF Act 1290/Ahd/2016 2004-05 Assessee 10,36,953 3 1594/Ahd/2016 2004-05 Revenue 17,28,256

AMBALAL SARABHAI ENTERPRISES LTD.,,BARODA vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, BARODA

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

2 Employer’s 1290/Ahd/2016 2004-05 Assessee 10853589 9 Contribution to PF (Employees Contributio n) 3 Disallowance of PF 1772/Ahd/2015 2002-03 Assessee 9,83,308 3 Damages under 1773/Ahd/2015 2003-04 Assessee 10,79,540 3 Section 14B of the PF Act 1290/Ahd/2016 2004-05 Assessee 10,36,953 3 1594/Ahd/2016 2004-05 Revenue 17,28,256

THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, VADODARA vs. AMBALAL SARABHI ENTERPRISES LIMITED,, VADODARA

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

2 Employer’s 1290/Ahd/2016 2004-05 Assessee 10853589 9 Contribution to PF (Employees Contributio n) 3 Disallowance of PF 1772/Ahd/2015 2002-03 Assessee 9,83,308 3 Damages under 1773/Ahd/2015 2003-04 Assessee 10,79,540 3 Section 14B of the PF Act 1290/Ahd/2016 2004-05 Assessee 10,36,953 3 1594/Ahd/2016 2004-05 Revenue 17,28,256

THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, VADODARA vs. AMBALAL SARABHI ENTERPRISES LIMITED,, VADODARA

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

2 Employer’s 1290/Ahd/2016 2004-05 Assessee 10853589 9 Contribution to PF (Employees Contributio n) 3 Disallowance of PF 1772/Ahd/2015 2002-03 Assessee 9,83,308 3 Damages under 1773/Ahd/2015 2003-04 Assessee 10,79,540 3 Section 14B of the PF Act 1290/Ahd/2016 2004-05 Assessee 10,36,953 3 1594/Ahd/2016 2004-05 Revenue 17,28,256

THE DY.COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, VADODARA vs. AMBALAL SARABHAI ENTERPRISES LIMITED,, VADODARA

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

2 Employer’s 1290/Ahd/2016 2004-05 Assessee 10853589 9 Contribution to PF (Employees Contributio n) 3 Disallowance of PF 1772/Ahd/2015 2002-03 Assessee 9,83,308 3 Damages under 1773/Ahd/2015 2003-04 Assessee 10,79,540 3 Section 14B of the PF Act 1290/Ahd/2016 2004-05 Assessee 10,36,953 3 1594/Ahd/2016 2004-05 Revenue 17,28,256

AMBALAL SARABHAI ENTERPRISES LIMITED,,BARODA vs. THE ACIT.,CIRCLE-1(1),, BARODA

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

2 Employer’s 1290/Ahd/2016 2004-05 Assessee 10853589 9 Contribution to PF (Employees Contributio n) 3 Disallowance of PF 1772/Ahd/2015 2002-03 Assessee 9,83,308 3 Damages under 1773/Ahd/2015 2003-04 Assessee 10,79,540 3 Section 14B of the PF Act 1290/Ahd/2016 2004-05 Assessee 10,36,953 3 1594/Ahd/2016 2004-05 Revenue 17,28,256

AMBALAL SARABHAI ENTERPRISES LTD.,,BARODA vs. THE DY.COMMISSIONER OF INCOME TAX,CIRCLE-1(1)(1),, BARODA

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

2 Employer’s 1290/Ahd/2016 2004-05 Assessee 10853589 9 Contribution to PF (Employees Contributio n) 3 Disallowance of PF 1772/Ahd/2015 2002-03 Assessee 9,83,308 3 Damages under 1773/Ahd/2015 2003-04 Assessee 10,79,540 3 Section 14B of the PF Act 1290/Ahd/2016 2004-05 Assessee 10,36,953 3 1594/Ahd/2016 2004-05 Revenue 17,28,256

GUJARAT URJA VIKAS NIGAM LTD.,VADODARA vs. THE ACIT, CIRCLE-1(1)(1), VADODARA

In the result, the appeal filed by the Revenue in ITA No

Bench: Shri Ramit Kochar (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

2 disallowance of interest expenses of Rs.6,97,664/-. The Ld AO made disallowance of interest expenses at 12% of capital work-in-progress (CWIP) of Rs.58,13,869/- on the ground that despite booking of capital work-in-progress in the books of account, no interest expenses were capitalized by the assessee. The Ld. Counsel submitted that

GUJARAT URJA VIKAS NIGAM LTD.,VADODARA vs. THE DY.CIT, CIRCLE-1(1)(1), VADODARA

In the result, the appeal filed by the Revenue in ITA No

Bench: Shri Ramit Kochar (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

2 disallowance of interest expenses of Rs.6,97,664/-. The Ld AO made disallowance of interest expenses at 12% of capital work-in-progress (CWIP) of Rs.58,13,869/- on the ground that despite booking of capital work-in-progress in the books of account, no interest expenses were capitalized by the assessee. The Ld. Counsel submitted that

THE JT.CIT, (OSD)CIRCLE-1(1)(1), VADODARA vs. GUJARAT URJA VIKAS NIGAM LTD., VADODARA

In the result, the appeal filed by the Revenue in ITA No

Bench: Shri Ramit Kochar (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

2 disallowance of interest expenses of Rs.6,97,664/-. The Ld AO made disallowance of interest expenses at 12% of capital work-in-progress (CWIP) of Rs.58,13,869/- on the ground that despite booking of capital work-in-progress in the books of account, no interest expenses were capitalized by the assessee. The Ld. Counsel submitted that

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 1(1)(1), VADODARA vs. GUJARAT URJA VIKAS NIGAM LIMITED, VADODARA

In the result, the appeal filed by the Revenue in ITA No

Bench: Shri Ramit Kochar (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

2 disallowance of interest expenses of Rs.6,97,664/-. The Ld AO made disallowance of interest expenses at 12% of capital work-in-progress (CWIP) of Rs.58,13,869/- on the ground that despite booking of capital work-in-progress in the books of account, no interest expenses were capitalized by the assessee. The Ld. Counsel submitted that

THE ACIT, CENTRAL CIRCLE-2(2), AHMEDABAD vs. SMT. RITABEN SAKETKUMAR TANNA, AHMEDABAD

In the result the assessee appeal in ITA

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

256 of cash deposited and cheque Clering/ transfer 52,97,389 entries in Bank Account 3 Disallowance u/s 36(1)(iii) 11,114 4 Disallowance of business expenses claimed in P&L A/c Municipal Tax -- -- Bad Debt 3,32,019 4,10,591 Salary @ 10% 58,841 1,39,768 Transport, Khedut lodging etc. @ 20% 1,71,844 2

SAKETKUMAR RUGNATH TANNA,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-2(2), AHMEDABAD

In the result the assessee appeal in ITA

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

256 of cash deposited and cheque Clering/ transfer 52,97,389 entries in Bank Account 3 Disallowance u/s 36(1)(iii) 11,114 4 Disallowance of business expenses claimed in P&L A/c Municipal Tax -- -- Bad Debt 3,32,019 4,10,591 Salary @ 10% 58,841 1,39,768 Transport, Khedut lodging etc. @ 20% 1,71,844 2

THE ITO WARD-5(3)(1) (PREVIOUSLY THE ACIT, CENTRAL CIRCLE-2(2)), AHMEDABAD vs. SHRI SAKETKUMAR RUGNATH TANNA LEGAL HEIR OF LATE SMT. INDUMATIBEN RUGNATH TANNA, AHMEDABAD

In the result the assessee appeal in ITA

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

256 of cash deposited and cheque Clering/ transfer 52,97,389 entries in Bank Account 3 Disallowance u/s 36(1)(iii) 11,114 4 Disallowance of business expenses claimed in P&L A/c Municipal Tax -- -- Bad Debt 3,32,019 4,10,591 Salary @ 10% 58,841 1,39,768 Transport, Khedut lodging etc. @ 20% 1,71,844 2

SMT. RITABEN SAKETKUMAR TANNA,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-2(2), AHMEDABAD

In the result the assessee appeal in ITA

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

256 of cash deposited and cheque Clering/ transfer 52,97,389 entries in Bank Account 3 Disallowance u/s 36(1)(iii) 11,114 4 Disallowance of business expenses claimed in P&L A/c Municipal Tax -- -- Bad Debt 3,32,019 4,10,591 Salary @ 10% 58,841 1,39,768 Transport, Khedut lodging etc. @ 20% 1,71,844 2

SAKETKUMAR RUGNATH TANNA LEGAL HEIR OF LATE SMT. INDUMATIBEN RUGNATH TANNA,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-2(2), AHMEDABAD

In the result the assessee appeal in ITA

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

256 of cash deposited and cheque Clering/ transfer 52,97,389 entries in Bank Account 3 Disallowance u/s 36(1)(iii) 11,114 4 Disallowance of business expenses claimed in P&L A/c Municipal Tax -- -- Bad Debt 3,32,019 4,10,591 Salary @ 10% 58,841 1,39,768 Transport, Khedut lodging etc. @ 20% 1,71,844 2