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

house property qua the properties held as stock in trade on account of deemed rental income. 6.4 As the assessee succeeds on the reasoning as elaborated in the preceding paragraph, therefore we are not inclined to adjudicate the other contentions raised by the Ld.AR for the assessee. Hence the ground of appeal of the assessee is allowed. ITA Nos.37-38/AHD/2021 A.Y.s

ATUL GOVINDJI SHROFF,VADODARA vs. THE DCIT, CENTRAL CIRCLE-3, VADODARA

In the result, appeal filed by the Assessee is dismissed

Bench: Smt. Annapurna Gupta (Accountant Member), Shri Siddhartha Nautiyal (Judicial Member)

143(3) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) relating to the Assessment Year 2017-18. I.T.A No. 1443/Ahd/2019 A.Y. 2017-18 Page No 2 Atul Govindji Shroff vs. DCIT 2. The assessee has raised the following Grounds of Appeal: All the grounds of appeal in this appeal are mutually exclusive and without prejudice

SHRI KIRANKUMAR RASIKLAL SANGHVI,DEESA vs. THE PR.CIT-4,, AHMEDABAD

The appeal of the assessee is allowed

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarिनधा"रण वष"/Assessment Year: 2015-16 Shri Kirankumar Rasiklal Sanghvi, The Principal Commissioner Of 1, Paras Society, Neminathnagar Income-Tax-4, Vs. Road, Deesa, Gujarat-385535 Ahmedabad Pan : Afops 0131 D अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" "" यथ" "" "" यथ" यथ"/ (Respondent) यथ" Assessee By : Shri Manish J. Shah & Shri Rushin Patel, Ars Revenue By : Shri Durga Dutt, Cit-Dr सुनवाई क" तारीख/Date Of Hearing : 12.09.2024 घोषणा क" तारीख /Date Of Pronouncement: 24.09.2024 आदेश आदेश/O R D E R आदेश आदेश Per Annapurna Gupta: This Appeal Filed By The Assessee Is Directed Against The Order Passed By The Learned Principal Commissioner Of Income-Tax-4, Ahmedabad [Herein- After Referred To As “Pcit”] Dated 03.03.2020, 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) 2015-16. 2. The Registry Has Noted The Present Appeal To Be Barred By Limitation By 1355 Days. The Ld. Counsel For The Assessee Explained That There Was, In Fact, No Delay In Filing The Appeal Before The Tribunal For The Reason That The Assessee Had Inadvertently Filed The Appeal Against The Order Of The Ld. Pcit Before The Surat Bench Of The Itat Which, When The Appeal Came Up For Hearing Before It, Passed A Judicial Order Dated 21.11.2023 Dismissing The Appeal As Withdrawn, Noting The Fact That The Correct Jurisdiction Lay With The 2 Shri Kirankumar Rasiklal Sanghvi Vs. Pcit Ay : 2015-16

143(3) of the Act for computing income from House Property.” 4. We have heard both the parties at length and gone through the material available on record. The primary error found by the Ld. PCIT in the order passed by the AO was with regards to allowance of claim of exemption/ deduction u/s 54F of the Act , which

AMBE TRADECORP PVT. LTD.,AHMEDABAD vs. THE PR. CIT (CENTRAL), AHMEDABAD

In the result, the appeal filed by the assessee is allowed

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No.53/Ahd/2021 िनधा"रण वष"/Asstt. Year: 2010-2011 Ambe Tradecorp Private Limited, The P.C.I.T.(Central) Iscon House, Vs. Ahmedabad. B/H. Rembrandt Building, C.G. Road, Ahmedabad.

Properties Pvt. Ltd.) and M/s Hit Flo Control Water Treatment Pvt. Ltd. amounting to Rs. 23,50,00,000/- and Rs. 17,79,50,000/- respectively. But there was no discussion /disallowance made qua such share application money in the assessment framed under section 143(3) read with section 147 of the Act dated 13th December 2017 despite the fact

SHRI ATULBHAI BABULAL SHAH,,AHMEDABAD vs. THE ACIT, CIRCLE-11,, AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed, Accountantmember & Ms. Madhumita Roy

house property so that income was not assessable as property income. 4.1. Theld.CIT(A) has grievously erred in law and on facts in upholding the disallowance of interest expenses of Rs.8,00,387/-. It is, therefore, prayed that the additions upheld by the CIT(A) may kindly be deleted. ITA Nos.76/Ahd/2011, 966/Ahd/2014 & 2493/Ahd/2012 Shri AtulBabubhaiShah vs.Jt.CIT/ACIT Asst.Years

SHRI ATULBHAI BABUBHAI SHAH,AHMEDABAD vs. THE ACIT.,RANGE-10,, AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed, Accountantmember & Ms. Madhumita Roy

house property so that income was not assessable as property income. 4.1. Theld.CIT(A) has grievously erred in law and on facts in upholding the disallowance of interest expenses of Rs.8,00,387/-. It is, therefore, prayed that the additions upheld by the CIT(A) may kindly be deleted. ITA Nos.76/Ahd/2011, 966/Ahd/2014 & 2493/Ahd/2012 Shri AtulBabubhaiShah vs.Jt.CIT/ACIT Asst.Years

SHRI ATUL BABUBHAI SHAH,AHMEDABAD vs. THE JT.CIT.,RANGE-10,, AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed, Accountantmember & Ms. Madhumita Roy

house property so that income was not assessable as property income. 4.1. Theld.CIT(A) has grievously erred in law and on facts in upholding the disallowance of interest expenses of Rs.8,00,387/-. It is, therefore, prayed that the additions upheld by the CIT(A) may kindly be deleted. ITA Nos.76/Ahd/2011, 966/Ahd/2014 & 2493/Ahd/2012 Shri AtulBabubhaiShah vs.Jt.CIT/ACIT Asst.Years

THE DCIT, CENTRAL CIRCLE-1, BARODA vs. SHRI DHAVAL D. PATEL,, BARODA

In the result, the file is being restored to the Ld

house property of " 63,37,765/-was added to the total income of the assessee. I.T(SS)A No. 207 & 1461/Ahd/2018 A.Y. 2013-14 & 2014-15 Page No. 4 DCIT vs. Shri Dhaval D. Patel 5. In appeal, the assessee submitted that the AO could should not have worked out notional ALV of various vacant properties since the properties were

EFFECTIVE TELESERVICES PVT. LTD.,GANDHINAGAR vs. THE PR. CIT-3, AHMEDABAD

In the result, the order passed under Section 263 of the Act is directed to be set-aside

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

Section 143(3) of the Act on 01.03.2023 by accepting the income at Rs. 13,96,44,410/- filed by the assessee. 4. Subsequently, on examination of records, the PCIT observed that the assessee has treated rental income of Rs. 12,49,14,400/- as “income from house property

SHRI BHAGWANBHAI R. MAKWANA,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-14(2),, AHMEDABAD

Appeal is dismissed

Bench: Shri Siddhartha Nautiyal (Judicial Member), Shri Makarand V. Mahadeokar (Accountant Member)

Section 33 of Revenue Act the appellant has incurred several i.e. expenses which were paid by Shri Jaswantbhai D. Patel. Further with regard to the land leveling and development expenses of Rs.65 lakhs it is submitted that Shri Jaswantbhai D. Patel has spent this amount during the period 2000 to 2005 and the land leveling work carried by Shri Dineshbhai

BHAKTIBEN BHAGWATSINH CHAVDA, (L/H OF LATE BHAGWATSINH J CHAVDA),AHMEDABAD vs. ITO, WARD-14(2),, AHMEDABAD

Appeal is dismissed

Bench: Shri Siddhartha Nautiyal (Judicial Member), Shri Makarand V. Mahadeokar (Accountant Member)

Section 33 of Revenue Act the appellant has incurred several i.e. expenses which were paid by Shri Jaswantbhai D. Patel. Further with regard to the land leveling and development expenses of Rs.65 lakhs it is submitted that Shri Jaswantbhai D. Patel has spent this amount during the period 2000 to 2005 and the land leveling work carried by Shri Dineshbhai

SHRI BHAGWANBHAI RANCHHODBHAI MAKWANA,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-5(1)(2),, AHMEDABAD

Appeal is dismissed

Bench: Shri Siddhartha Nautiyal (Judicial Member), Shri Makarand V. Mahadeokar (Accountant Member)

Section 33 of Revenue Act the appellant has incurred several i.e. expenses which were paid by Shri Jaswantbhai D. Patel. Further with regard to the land leveling and development expenses of Rs.65 lakhs it is submitted that Shri Jaswantbhai D. Patel has spent this amount during the period 2000 to 2005 and the land leveling work carried by Shri Dineshbhai

LATE BHAGWATSINH JIBHUBHAI CHAVDA)L/H.BHAKTIBEN BHAGWATSINH CHAVDA,,AHMEDABAD vs. ITO, WARD-5(1)(2),, AHMEDABAD

Appeal is dismissed

Bench: Shri Siddhartha Nautiyal (Judicial Member), Shri Makarand V. Mahadeokar (Accountant Member)

Section 33 of Revenue Act the appellant has incurred several i.e. expenses which were paid by Shri Jaswantbhai D. Patel. Further with regard to the land leveling and development expenses of Rs.65 lakhs it is submitted that Shri Jaswantbhai D. Patel has spent this amount during the period 2000 to 2005 and the land leveling work carried by Shri Dineshbhai

SHRI CHAITANYA BANSIBHAI. NAGORI,AHMEDABAD vs. THE PR. CIT-4, AHMEDABAD

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

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

section 143(2) was issued only for the purpose of investigation of mismatch of income with form 26AS. But the AO converted the limited scrutiny into complete scrutiny and held the capital receipt as business receipt without obtaining any ITA No. 377/Ahd/2020 [Shri Chaitanya Bansibhai Vs. PCIT] A.Y. 2015-16 - 12 - approval from the higher authority. The AO in this

SHRI KARAN RAJENDRAKUMAR ARYA,AHMEDABAD vs. THE PR. CIT-1, AHMEDABAD

In the result the appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No. 31/Ahd/2021 िनधा"रण वष"/Asstt. Year: 2015-2016 Shri Karan Rajendrakumar Arya, The Principal Commissioner Of 802, Saffron, Panchvati, Vs. Income Tax-1, Ambawadi, Ahmedabad. Ahmedabad.

house property and bank statement showing the said payments. Therefore the assessee is eligible for claiming deduction under section 54 and the same should be allowed. 7.10 In view of the above, it is transpired that the AO during the assessment proceedings has framed the assessment under section 143

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)

143(2) of the Act, was issued and served upon the assessee. 4. Specific questionnaires were also issued from time-to-time and duly served upon the assessee alongwith notice under Section 142(1) of the Act, the details whereupon were duly filed by the assessee through electronic media on e-proceeding. The assessee had shown total turnover of Rs.65

SHRI RAJAT B. MEHTA,VADODARA vs. THE INCOME TAX OFFICER (INTL. TAXN.), VADODARA

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

143(3) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act) for the assessment year 2011-12. Grievance of the assessee, in substance, is against the CIT(A) upholding the action of the Assessing Officer in restricting the deduction under section 54 of the Act to Rs 60,00,000, as against claim of deduction

BIMANAGAR CO.OP.HSG.SO.LTD.,,AHMEDABAD vs. THE INCOME TAX OFFICER,WARD-7(2),, AHMEDABAD

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

Bench: Pramod Kumar] Assessment Year: 2008-09 Bimanagar Co. Op. Housing Society Ltd. .......…………...........Appellant Opp. Shivranjani Cross Roads, Satellite, Ahmedabad - 380015 [Pan : Aaaab 4535 A] Vs. Income-Tax Officer, Ward 7(2), Ahmedabad. ............................Respondent Appearances By: Dk Parikh For The Appellant Dinesh Singh For The Respondent Date Of Concluding The Hearing : 28.06.2017 Date Of Pronouncing The Order : 22.09.2017 O R D E R This Appeal, Filed By The Assessee, Is Directed Against The Order Dated 5Th 1. December 2011, Passed By The Learned Cit(A), In The Matter Of Assessment Under Section 143(3) Of The Income Tax Act, 1961, For The Assessment Year 2008-09. 2. Grievances Raised By The Appellant Are As Follows :

143(3) of the Income Tax Act, 1961, for the assessment year 2008-09. 2. Grievances raised by the appellant are as follows : 1. The Ld. CIT (A) has erred in both in law and on facts in confirming the action of the Id AO disallowing the claim of Rs.480000/- as against legitimate claim of deduction Under Section

M/S. PUSHKAR CORPORATION,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-1(4), AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Ms. Suchitra Kamble & Shri Waseem Ahmedआयकर अपील सं./Ita Nos. 2213-2214/Ahd/2018 िनधा"रण वष"/Asstt. Years: 2011-2012 & 2012-2013 M/S. Pushkar Corporation, D.C.I.T., 27, Nakshatra Arcade, Vs. Central Circle-1(4), Ioc Road, Ahmedabad. Chandkheda, Ahmedabad. C/O. M.S. Chhajed & Co. “Kamal Shanti” Besides Bank Of Baroda, Nr. Sardar Patel Under Bridge, Naranpura, Ahmedabad-380014. Pan: Aalep1840Q & आयकर अपील सं./Ita Nos. 2345-2346/Ahd/2018 िनधा"रण वष"/Asstt. Years: 2011-2012 & 2012-2013 D.C.I.T., M/S. Pushkar Corporation, Central Circle-1(4), Vs. 27, Nakshatra Arcade, Ahmedabad. Ioc Road, Chandkheda, Ahmedabad. C/O. M.S. Chhajed & Co. “Kamal Shanti” Besides Bank Of Baroda, Nr. Sardar Patel Under Bridge, Naranpura, Ahmedabad-380014. Pan: Aalep1840Q

properties were deleted by the higher authorities, in this regard we note that there was no information brought on record that any appeal was preferred before the ITAT by the revenue against the deletion by the learned CIT (A). Moreover, we find that the addition has been deleted by the learned CIT- A on technical account as well as considering