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

ii. The allotment of more than one residential unit to a person other than individual is in contravention of the provision of section 80-IB(10)(e) of the Act. iii. Separate books of accounts were not maintained with respect to the eligible business as required under the provisions of section 80-IB(13) r.w.s

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.

ii. The aforesaid companies have not filed their income tax returns for the year under consideration. iii. The persons who provided funds to the aforesaid companies have also not filed their income tax returns. 3.1 However, the assessment was framed under section 143(3) read with section 147 of the Act after making the addition

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)

House Property [as per Return of Income] Rs. 10,34,525/- B. Business Income [as per Return of income] Rs.14,81,24,50,439/- Add: Additions / disallowances as discussed above ITA No. 162/Ahd/2021 (Zydus Lifesciences Ltd. vs. DCIT) A.Y.– 2016-17 - 7 – 1. Transfer pricing adjustment on account Rs. 10,29,60,436/- of corporate guarantee (as per Para

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

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

House of Vasibhai Vasrambhai Desai, at village Khadeda, Rabari Vas, Dist. Patan. Sanjeet Motors 6, Saarthi Bungalows Finance P.Ltd. Prernatirth Derasar Road Satellite, Ahmedabad. 17/B/1, Devendra Society Naranpura Ahmedabad. B/6, Pallavi Apartment Opp: Municipal Market C.G.Road Ahmedabad. 3. In order to give logical end to the search, the ld.AO had issued notice under section 153A, 153C

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

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

House of Vasibhai Vasrambhai Desai, at village Khadeda, Rabari Vas, Dist. Patan. Sanjeet Motors 6, Saarthi Bungalows Finance P.Ltd. Prernatirth Derasar Road Satellite, Ahmedabad. 17/B/1, Devendra Society Naranpura Ahmedabad. B/6, Pallavi Apartment Opp: Municipal Market C.G.Road Ahmedabad. 3. In order to give logical end to the search, the ld.AO had issued notice under section 153A, 153C

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

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

House of Vasibhai Vasrambhai Desai, at village Khadeda, Rabari Vas, Dist. Patan. Sanjeet Motors 6, Saarthi Bungalows Finance P.Ltd. Prernatirth Derasar Road Satellite, Ahmedabad. 17/B/1, Devendra Society Naranpura Ahmedabad. B/6, Pallavi Apartment Opp: Municipal Market C.G.Road Ahmedabad. 3. In order to give logical end to the search, the ld.AO had issued notice under section 153A, 153C

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

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

House of Vasibhai Vasrambhai Desai, at village Khadeda, Rabari Vas, Dist. Patan. Sanjeet Motors 6, Saarthi Bungalows Finance P.Ltd. Prernatirth Derasar Road Satellite, Ahmedabad. 17/B/1, Devendra Society Naranpura Ahmedabad. B/6, Pallavi Apartment Opp: Municipal Market C.G.Road Ahmedabad. 3. In order to give logical end to the search, the ld.AO had issued notice under section 153A, 153C

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

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

House of Vasibhai Vasrambhai Desai, at village Khadeda, Rabari Vas, Dist. Patan. Sanjeet Motors 6, Saarthi Bungalows Finance P.Ltd. Prernatirth Derasar Road Satellite, Ahmedabad. 17/B/1, Devendra Society Naranpura Ahmedabad. B/6, Pallavi Apartment Opp: Municipal Market C.G.Road Ahmedabad. 3. In order to give logical end to the search, the ld.AO had issued notice under section 153A, 153C

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

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

House of Vasibhai Vasrambhai Desai, at village Khadeda, Rabari Vas, Dist. Patan. Sanjeet Motors 6, Saarthi Bungalows Finance P.Ltd. Prernatirth Derasar Road Satellite, Ahmedabad. 17/B/1, Devendra Society Naranpura Ahmedabad. B/6, Pallavi Apartment Opp: Municipal Market C.G.Road Ahmedabad. 3. In order to give logical end to the search, the ld.AO had issued notice under section 153A, 153C

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

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

House of Vasibhai Vasrambhai Desai, at village Khadeda, Rabari Vas, Dist. Patan. Sanjeet Motors 6, Saarthi Bungalows Finance P.Ltd. Prernatirth Derasar Road Satellite, Ahmedabad. 17/B/1, Devendra Society Naranpura Ahmedabad. B/6, Pallavi Apartment Opp: Municipal Market C.G.Road Ahmedabad. 3. In order to give logical end to the search, the ld.AO had issued notice under section 153A, 153C

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

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

House of Vasibhai Vasrambhai Desai, at village Khadeda, Rabari Vas, Dist. Patan. Sanjeet Motors 6, Saarthi Bungalows Finance P.Ltd. Prernatirth Derasar Road Satellite, Ahmedabad. 17/B/1, Devendra Society Naranpura Ahmedabad. B/6, Pallavi Apartment Opp: Municipal Market C.G.Road Ahmedabad. 3. In order to give logical end to the search, the ld.AO had issued notice under section 153A, 153C

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

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

House of Vasibhai Vasrambhai Desai, at village Khadeda, Rabari Vas, Dist. Patan. Sanjeet Motors 6, Saarthi Bungalows Finance P.Ltd. Prernatirth Derasar Road Satellite, Ahmedabad. 17/B/1, Devendra Society Naranpura Ahmedabad. B/6, Pallavi Apartment Opp: Municipal Market C.G.Road Ahmedabad. 3. In order to give logical end to the search, the ld.AO had issued notice under section 153A, 153C

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

ii) If yes, taxability in whose hands? (iii) The year of taxability of such income. (iv) The rate and amount of tax 20.1 It is pertinent to mention that a charge of tax can be levied based on such a document only is such document is a speaking one in itself or becomes a speaking once if read in conjunction

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

ii) If yes, taxability in whose hands? (iii) The year of taxability of such income. (iv) The rate and amount of tax 20.1 It is pertinent to mention that a charge of tax can be levied based on such a document only is such document is a speaking one in itself or becomes a speaking once if read in conjunction

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

143(3) of The Income Tax Act, 1961 dated 10/08/2017 as erroneous and prejudicial to the interest of revenue and direction of the Ld. Assessing Officer to make fresh assessment, by passing the Order U/s 263 of The Income Tax Act, 1961 dated 25/03/2020.” 3. The brief facts of the case are that the assessee is a doctor (Gynecologist

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

MANDAR KULKURNI, HUF,VADODARA vs. INCOME TAX OFFICER,WARD-1(2)(3), VADODARA

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

Bench: Ms. Suchitra Kambleassessment Year: 2011-12

house made by Mr. Mandar Kulkarni being member of HUF in his personal capacity and ought not to have confirmed the disallowance of deduction of Rs.28,76,181/- under Section 54 of the Act made in assessment order dated 23.12.2016 passed under Section 143(3) read with Section 147 by Assessing Officer II.” 3. The assessee filed its original return

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.

ii. As per the agreement the sale deed will be registered in the name of the assessee only after the receipt of balance payment of the sale consideration and consequently the possession of the property shall be handed over. 3.1 However, as per the learned PCIT, it was not discernible from the case records that the remaining amount of sale