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. The Assessee in this regard placed the reliance on the following judgment: 1. Chennai Properties & investment Ltd. Vs CIT [2015] 56 taxmann.com 456 (SC) 2. CIT vs. Neha Builders (P) LTD. [2007] 164 Taxman 342 (Guj.) . 3. Radha Devi Dalmia Vs. CIT [1980] 4 taxman 183 (All.) 16. The Ld. CIT (A) after considering facts in totality deleted

THE ACIT, (EXEMPTION) CIRCLE-1, AHMEDABAD vs. VYAKTI VIKAS KENDRA INDIA, AHMEDABAD

In the result revenue’s appeal is dismissed

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

houses in India for residential purposes and 67[which is eligible for deduction under clause (viii) of sub-section (1) of section 36]; 68[(ixa) deposits with or investment in any bonds issued by a public company formed and registered in India with the main object of carrying on the business of providing long-term finance for urban infrastructure

DCIT (EXEMPTION), CIRCLE-1, BANGLORE vs. VYAKTI VIKAS KENDRA INDIA,, AHMEDABAD

In the result revenue’s appeal is dismissed

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

houses in India for residential purposes and 67[which is eligible for deduction under clause (viii) of sub-section (1) of section 36]; 68[(ixa) deposits with or investment in any bonds issued by a public company formed and registered in India with the main object of carrying on the business of providing long-term finance for urban infrastructure

DCIT (EXEMPTION), CIRCLE-1, BANGLORE vs. VYAKTI VIKAS KENDRA INDIA,, AHMEDABAD

In the result revenue’s appeal is dismissed

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

houses in India for residential purposes and 67[which is eligible for deduction under clause (viii) of sub-section (1) of section 36]; 68[(ixa) deposits with or investment in any bonds issued by a public company formed and registered in India with the main object of carrying on the business of providing long-term finance for urban infrastructure

DCIT (EXEMPTION), CIRCLE-1, BANGLORE vs. VYAKTI VIKAS KENDRA INDIA,, AHMEDABAD

In the result revenue’s appeal is dismissed

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

houses in India for residential purposes and 67[which is eligible for deduction under clause (viii) of sub-section (1) of section 36]; 68[(ixa) deposits with or investment in any bonds issued by a public company formed and registered in India with the main object of carrying on the business of providing long-term finance for urban infrastructure

TORRENT PHARMACEUTICALS LTD.,,AHMEDABAD vs. THE DEPUTY COMMISSIONER OF INCOME TAX (OSD) CIRCLE-8,, AHMEDABAD

In the result appeal of the Revenue is partly allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita.No.1285 & 1286/Ahd/2017 िनधा"रण वष"/Asstt. Year: 2009-10 & 2010-11 & Ita No.1396 & 1397/Ahd/2018 Asstt.Year 2011-12 & 2012-13 Torrent Pharmaceuticals Ltd. Acit, Circle-4(1)(2) Torrent House Ahmedabad. Vs. Off.Ashram Road Ahmedabad 380 009. आयकर अपील सं./Ita.No.1327 & 1328/Ahd/2017 िनधा"रण वष"/ Asstt. Year: 2009-10 & 2010-11 & आयकर अपील सं./Ita.No.1414 & 1415/Ahd/2018 िनधा"रण वष"/ Asstt. Year: 2011-12 & 2012-13 Acit, Circle-4(1)(2) Torrent Pharmaceuticals Ltd. Ahmedabad. Torrent House Vs. Off.Ashram Road Ahmedabad 380 009. (Applicant) (Responent) Assessee By : Shri Vartik Choksi, With Shri Biren Shah, Ars. Revenue By : Shri Mohd. Usman, Cit-Dr सुनवाई क" तारीख/Date Of Hearing : 23/11/2021 घोषणा क" तारीख /Date Of Pronouncement: 22/02/2022 आदेश/O R D E R Per Bench

House Vs. Off.Ashram Road Ahmedabad 380 009. (Applicant) (Responent) Assessee by : Shri Vartik Choksi, With Shri Biren Shah, ARs. Revenue by : Shri Mohd. Usman, CIT-DR सुनवाई क" तारीख/Date of Hearing : 23/11/2021 घोषणा क" तारीख /Date of Pronouncement: 22/02/2022 आदेश/O R D E R PER BENCH 1. The above captioned appeals have been filed by the assessee

BARODA CRICKET ASSOCIATION,,VADODARA vs. THE DY. CIT, (EXEMPTION), CIRCLE-2,, AHMEDABAD

In the result, appeal filed by the Assessee is allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed)

House Income Tax (Exemptions), 78, Race Course, Circle-2, Ahmedabad Vadodara, 390007 (Appellant) (Respondent) PAN: AAAAB1410E Appellant by : Shri Bandish Soparkar, A.R. Respondent by : Shri O.P. Sharma, CIT/ D.R. (आदेश)/ORDER Date of hearing : 13-06-2019 Date of Pronouncement : 10-07-2019 PER MAHAVIR PRASAD, JUDICIAL MEMBER 1. This appeal filed by the Assessee is directed against the order

THE DCIT, CIRCLE-1(3), AHMEDABAD vs. EDELWEISS FINANCIAL ADVISORS LTD., ( FORMERLY KNOWN ANAGRAM STOCK BROKING LTD.,), AHMEDABAD

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

House’ Near H. L. Commerce College, Stadium Road, Navrangpura, Ahmedabad-380009 PAN No. AABCA9956F 3. 268/Ahd/2016 2010-11 Edelweiss Broking Ltd. Jt. CIT, Range-3 (On behalf of Ahmedabd-380015 amalgamating company: Edelweiss Financial Advisors Ltd.) 801-804, 8th Floor, Abhishree Avenue, Opp. Hanumanji Temple, Nehrunagar, Ambawadi, Ahmedabad-380015 PAN No. AABCE9421H PAN No. AABCA2916K 4. 318/Ahd/2016 2011-12 Edelweiss

M/S. EDELWEISS BROKING LTD. ( AMALGAMATING COMPANY EDELWEISS FINANCIAL ADVISORS LTD.),AHMEDABAD vs. THE JT. CIT, RANGE-3,, AHMEDABAD

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

House’ Near H. L. Commerce College, Stadium Road, Navrangpura, Ahmedabad-380009 PAN No. AABCA9956F 3. 268/Ahd/2016 2010-11 Edelweiss Broking Ltd. Jt. CIT, Range-3 (On behalf of Ahmedabd-380015 amalgamating company: Edelweiss Financial Advisors Ltd.) 801-804, 8th Floor, Abhishree Avenue, Opp. Hanumanji Temple, Nehrunagar, Ambawadi, Ahmedabad-380015 PAN No. AABCE9421H PAN No. AABCA2916K 4. 318/Ahd/2016 2011-12 Edelweiss

THE DCIT, CIRCLE-1(3), AHMEDABAD vs. EDELWEISS BROKING LTD., AHMEDABAD

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

House’ Near H. L. Commerce College, Stadium Road, Navrangpura, Ahmedabad-380009 PAN No. AABCA9956F 3. 268/Ahd/2016 2010-11 Edelweiss Broking Ltd. Jt. CIT, Range-3 (On behalf of Ahmedabd-380015 amalgamating company: Edelweiss Financial Advisors Ltd.) 801-804, 8th Floor, Abhishree Avenue, Opp. Hanumanji Temple, Nehrunagar, Ambawadi, Ahmedabad-380015 PAN No. AABCE9421H PAN No. AABCA2916K 4. 318/Ahd/2016 2011-12 Edelweiss

TORRENT POWER LTD.,,AHMEDABAD vs. THE ACIT.,RANGE-8,, AHMEDABAD

In the result cross objection filed by the assessee is partly allowed for statistical purposes

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

House, Nr. Circle-8, Dinesh Hall, Off Ashram Ahmedabad. Road, Ahmedabad-380009. PAN: AACCT0294J 2. 776/Ahd/2012 2008-09 Torrent Power Limited, A.C.I.T., Ahmedabad. Range-8, Ahmedabad. PAN: AACCT0294J 3. 738/Ahd/2012 2008-09 A.C.I.T., Torrent Power Circle-8, Limited, Ahmedabad. Ahmedabad. PAN: AACCT0294J 4. 1581/Ahd/2012 2009-10 Torrent Power Limited, A.C.I.T., Ahmedabad-380009. Range-8, Ahmedabad. PAN: AACCT0294J ITA nos.1577/AHD/2015 with

THE ACIT, CIRCLE-4(1)(2),, AHMEDABAD vs. M/S. VYAPTI INFRABUILD PVT. LTD.,, AHMEDABAD

The appeal of the Revenue is dismissed

section 22 of the act the annual value of the property consisting of any building or land appurtenant thereto of which the assessee is owner is chargeable to tax under the head “income from house property”. The assessee has contended that the scheme developed by the assessee are not the property of the assessee but in the nature of stock

VYAPTI INFRABUILD PVT. LTD.,,AHMEDABAD vs. THE DY. CIT, CIRCLE-4(1)(2),, AHMEDABAD

The appeal of the Revenue is dismissed

section 22 of the act the annual value of the property consisting of any building or land appurtenant thereto of which the assessee is owner is chargeable to tax under the head “income from house property”. The assessee has contended that the scheme developed by the assessee are not the property of the assessee but in the nature of stock

SHRI NATWARBHAI J. PATEL,VADODARA vs. THE INCOME TAX OFFICER, WARD-1(2)(4), VADODARA

In the result, both the appeals are partly allowed for statistical purposes in the terms indicated above

property and if such investment is made within the period stipulated therein, then Section 54F(4) is not at all attracted and therefore the contention that the assessee has not deposited the amount in the Bank account as stipulated and therefore, he is not entitled to the benefit even though he has invested the money in construction is also

THE ITO, WARD-1(2)(4), BARODA vs. SHRI NATWARBHAI J. PATEL, VADODARA

In the result, both the appeals are partly allowed for statistical purposes in the terms indicated above

property and if such investment is made within the period stipulated therein, then Section 54F(4) is not at all attracted and therefore the contention that the assessee has not deposited the amount in the Bank account as stipulated and therefore, he is not entitled to the benefit even though he has invested the money in construction is also

THE ITO, WARD-1(2)(5), VADODARA vs. SHRI VINODBHAI J. PATEL, VADODARA

In the result, both the appeals are partly allowed for statistical purposes in the terms indicated above

property and if such investment is made within the period stipulated therein, then Section 54F(4) is not at all attracted and therefore the contention ITA Nos. 464 & 513/Ahd/2016 ITO vs. Vinodbhai J Patel -cross Assessment Year : 2012-13 Page 6 of 12 that the assessee has not deposited the amount in the Bank account as stipulated and therefore

SHRI VINODBHAI J. PATEL,VADODARA vs. THE INCOME TAX OFFICER, WARD-1(2)(5), VADODARA

In the result, both the appeals are partly allowed for statistical purposes in the terms indicated above

property and if such investment is made within the period stipulated therein, then Section 54F(4) is not at all attracted and therefore the contention ITA Nos. 464 & 513/Ahd/2016 ITO vs. Vinodbhai J Patel -cross Assessment Year : 2012-13 Page 6 of 12 that the assessee has not deposited the amount in the Bank account as stipulated and therefore

THE DCIT, CENTRAL CIRCLE-1(1), AHMEDABAD vs. ASHRITA CONSTRUCTION PVT. LTD, AHMEDABAD

In the result, appeal of the Revenue is dismissed

Bench: Ms. Suchitra Kamble & Shri Waseem Ahmedassessment Year: 2016-17

1. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in law and on facts in deleting the addition of Rs.2,57,78,644/- on account of income from house property. 2. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) ought

TEJAS C. JOSHI,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-5(3)(3), AHMEDABAD

In the result, the appeal filed by the Assessee is hereby allowed

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

house property, business income and other sources. For the Asst. Year 2011-12, assessee filed its original Return of Income on 07-07-2012 declaring total income of Rs.17,54,560/-. As per information available with the Department, the assessee has received credit entry amounting to Rs.4,05,553/- of his minor child and not clubbed the same income