SHRI MUKESH R.SHAH,AHMEDABAD vs. THE INCOME TAX OFFICER, CENT.WARD-1(1),, AHMEDABAD

The appeal of the Revenue is dismissed

Bench: Smt.Annapurna Gupta & Smt. Suchitra Kambleasstt Year - 2001-02

disallowing losses are based entirely on the facts before us clearly leading to the inescapable finding that the assessee had not carried on any business but in fact it was the benami of “SG” 22. In view of the above, we uphold the order of the ld.CIT(A) that the business of share trading transactions carried on in the proprietorship

SHRI MUKESH RASIKLAL SHAH,AHMEDABAD vs. THE INCOME TAX OFFICER, CENT.WARD-1(1),, AHMEDABAD

The appeal of the Revenue is dismissed

Bench: Smt.Annapurna Gupta & Smt. Suchitra Kambleasstt Year - 2001-02

disallowing losses are based entirely on the facts before us clearly leading to the inescapable finding that the assessee had not carried on any business but in fact it was the benami of “SG” 22. In view of the above, we uphold the order of the ld.CIT(A) that the business of share trading transactions carried on in the proprietorship

SHRI MUKESH R.SHAH,AHMEDABAD vs. THE ACIT.,CIRCLE-6,, AHMEDABAD

The appeal of the Revenue is dismissed

Bench: Smt.Annapurna Gupta & Smt. Suchitra Kambleasstt Year - 2001-02

disallowing losses are based entirely on the facts before us clearly leading to the inescapable finding that the assessee had not carried on any business but in fact it was the benami of “SG” 22. In view of the above, we uphold the order of the ld.CIT(A) that the business of share trading transactions carried on in the proprietorship

THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, AHMEDABAD vs. M/S. ASIAN GRANITO INDIA LTD.,, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

undisclosed income of the Page 24 of 36 ITA nos.1517 & 2451/AHD/2016 Asstt. Years 2012-13 & 2013-14 assessee and added to the total income. However, the learned CIT (A) was pleased to delete the addition made by the AO as elaborated in the preceding paragraph. 18.1 From the preceding discussion, we note that the AO has compared the production

THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, AHMEDABAD vs. M/S. ASIAN GRANITO INDIA LTD.,, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

undisclosed income of the Page 24 of 36 ITA nos.1517 & 2451/AHD/2016 Asstt. Years 2012-13 & 2013-14 assessee and added to the total income. However, the learned CIT (A) was pleased to delete the addition made by the AO as elaborated in the preceding paragraph. 18.1 From the preceding discussion, we note that the AO has compared the production

THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2,, VADODARA vs. M/S. SHREE DHAIN AUTO TRANSPORT CORPN., BARODA

In the result, the appeal of the revenue is dismissed

undisclosed investment/advances of the assessee is Rs. 4,37,60,431/- against which the amount of disclosure is Rs. 2,01,24,000/~ and hence the balance Rs. 2,36,36,431 /- (Rs. 4,37,60,431/- minus Rs. 2,01,24,000/-) is to be added to income.” 4. Aggrieved assessee has filed appeal before

THE DY. COMMISSIONER OF INCOME TAX CIRCLE-3(3),, AHMEDABAD vs. M/S. ATRI DEVELOPERS,, AHMEDABAD

Appeal is dismissed

Bench: Smt.Annapurna Gupta & Shri T.R. Senthil Kumarassessment Year : 2013-14 The Dcit, Cir.3(3) M/S.Atri Developers Ahmedabad. Vs 19, Ambalal House Mayur Park Society Satellite Road Ahmedabad. Pan : Aatfa 1086 D Assessment Year : 2013-14 M/S.Atri Developers The Dcit, Cir.3(3) 19, Ambalal House Vs Ahmedabad. Mayur Park Society Satellite Road Ahmedabad. Pan : Aatfa 1086 D

undisclosed assets which could be linked with this disclosure, no addition can be made merely relying on statement Therefore, such observation of the AO would not support her Justification in estimating and determining income of Rs 6,00,00,000/- as if statement of partner was a gospel truth which can't ever be disputed In the present case before

M/S. ATRI DEVELOPERS,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-3(3),, AHMEDABAD

Appeal is dismissed

Bench: Smt.Annapurna Gupta & Shri T.R. Senthil Kumarassessment Year : 2013-14 The Dcit, Cir.3(3) M/S.Atri Developers Ahmedabad. Vs 19, Ambalal House Mayur Park Society Satellite Road Ahmedabad. Pan : Aatfa 1086 D Assessment Year : 2013-14 M/S.Atri Developers The Dcit, Cir.3(3) 19, Ambalal House Vs Ahmedabad. Mayur Park Society Satellite Road Ahmedabad. Pan : Aatfa 1086 D

undisclosed assets which could be linked with this disclosure, no addition can be made merely relying on statement Therefore, such observation of the AO would not support her Justification in estimating and determining income of Rs 6,00,00,000/- as if statement of partner was a gospel truth which can't ever be disputed In the present case before

SHRI ASHOK SUNDERDAS VASWANI,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-1(1), AHMEDABAD

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

undisclosed income. Thus, while in view of the mandate of sub-section (1) of section 153A of the Act, in every case where there is a search or requisition, the Assessing Officer is obliged to issue notice to such person to furnish returns of income for the six years preceding the assessment year relevant to the previous year in which

DCIT, CENTRAL CIRCLE -1(1),, AHMEDABAD vs. SHRI DEEPAK KUMAR VASWANI,, AHMEDABAD

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

undisclosed income. Thus, while in view of the mandate of sub-section (1) of section 153A of the Act, in every case where there is a search or requisition, the Assessing Officer is obliged to issue notice to such person to furnish returns of income for the six years preceding the assessment year relevant to the previous year in which

M/S. VENUS INFRABUILD,AHMEDABAD vs. THE DY.CIT.,CENT.CIRCLE-1(1),, AHMEDABAD

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

undisclosed income. Thus, while in view of the mandate of sub-section (1) of section 153A of the Act, in every case where there is a search or requisition, the Assessing Officer is obliged to issue notice to such person to furnish returns of income for the six years preceding the assessment year relevant to the previous year in which

SHRI RAJESH SUNDERDAS VASWANI,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-1(1), AHMEDABAD

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

undisclosed income. Thus, while in view of the mandate of sub-section (1) of section 153A of the Act, in every case where there is a search or requisition, the Assessing Officer is obliged to issue notice to such person to furnish returns of income for the six years preceding the assessment year relevant to the previous year in which

THE DCIT, CENTRAL CIRCLE-1(1), AHMEDABAD vs. SHRI ASHOK SUNDERDAS VASWANI, AHMEDABAD

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

undisclosed income. Thus, while in view of the mandate of sub-section (1) of section 153A of the Act, in every case where there is a search or requisition, the Assessing Officer is obliged to issue notice to such person to furnish returns of income for the six years preceding the assessment year relevant to the previous year in which

M/S. VENUS INFRABUILD,AHMEDABAD vs. THE DY.CIT.,CENT.CIRCLE-1(1),, AHMEDABAD

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

undisclosed income. Thus, while in view of the mandate of sub-section (1) of section 153A of the Act, in every case where there is a search or requisition, the Assessing Officer is obliged to issue notice to such person to furnish returns of income for the six years preceding the assessment year relevant to the previous year in which

M/S. VENUS INFRABUILD,AHMEDABAD vs. THE DY.CIT.,CENT.CIRCLE-1(1),, AHMEDABAD

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

undisclosed income. Thus, while in view of the mandate of sub-section (1) of section 153A of the Act, in every case where there is a search or requisition, the Assessing Officer is obliged to issue notice to such person to furnish returns of income for the six years preceding the assessment year relevant to the previous year in which

THE DCIT, CENTRAL CIRCLE-1(1), AHMEDABAD vs. SHRI RAJESH SUNDERDAS VASWANI, AHMEDABAD

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

undisclosed income. Thus, while in view of the mandate of sub-section (1) of section 153A of the Act, in every case where there is a search or requisition, the Assessing Officer is obliged to issue notice to such person to furnish returns of income for the six years preceding the assessment year relevant to the previous year in which

SHRI DEEPAK BUDHARMAL VASWANI,,AHMEDABAD vs. DCIT, CENTRAL CIRCLE -1(1),, AHMEDABAD

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

undisclosed income. Thus, while in view of the mandate of sub-section (1) of section 153A of the Act, in every case where there is a search or requisition, the Assessing Officer is obliged to issue notice to such person to furnish returns of income for the six years preceding the assessment year relevant to the previous year in which

ARVINDKUMAR AMULKH TANNA,AHMEDABAD vs. THE ACIT, CENTRAL CIRCLE-2 (3), AHMEADABAD

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

undisclosed income represented by the losses in the commodities trading held to be bogus/ fictitious nor any evidence by way of documents/loss papers have been found which could have been even an iota of evidence as to those losses being fictitious or obtained by way of accommodation entries. Under the circumstances the disallowance