ABDULVAHED A. SHEIKH, LEGAL HEIROF LATE SMT. SARIFABEN BIKHUBHAI SHEK,,AHMEDABAD vs. THE ITO, WARD-7(2)(5),, AHMEDABAD

The appeal of the assessee is allowed in above terms

property during the year along with other Co-owners and his share in the transaction was Rs. 35,79,625/- ,but no return of income had been filed by the asseseee. Subsequently assessment was framed , subjecting the Long Term Capital Gain earned thereon, amounting to Rs. 32,63,644/-, to tax by taking the assessee’s share as the sale

ANILKUMAR DWARKAPRASAD MODANI,AHMEDABAD vs. THE DY. CIT, CIRCLE-2(1)(1)(PREVIOUSLY DY.CIT, CIRCLE-3(1)), VADODARA

In the result, the appeal of the assessee is treated as allowed for statistical purposes

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita No.1572/Ahd/2024 िनधा"रण वष" /Assessment Year : 2013-14 Anilkumar Dwarkaprasad Modani The Dy.Cit बनाम/ A-17, Videocon Housing Colony Circle-2(1)(1) V/S. Chavaj, Bharuch 392 002 Vadodara (Gujarat) "थायी लेखा सं./Pan:Acnpm 0273 C अपीलाथ&/ (Appellant) '( यथ&/ (Respondent) Assessee By : Shri Hemant Suthar, Ar Revenue By : Shri Surendra Kumar, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 12/11/2024 घोषणा की तारीख /Date Of Pronouncement: 21/11/2024 आदेश/O R D E R Per Makarand V. Mahadeokar, Am: This Appeal By The Assessee Is Directed Against The Order Dated 26/12/2023 Passed By The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi [Hereinafter Referred To As “Cit(A)”] For The Assessment Year (Ay) 2013-14, In Which The Addition Made By The Assessing Officer [Hereinafter Referred To As “Ao)”] Under Section 50C Of The Income Tax Act, 1961 [Hereinafter Referred To As “The Act”] Was Confirmed Vide Assessment Order Dated 28/03/2016. Facts Of The Case: 2. The Assessee, An Individual Earning Income From Salaries, Trading In Shares & Securities, Capital Gains & Other Sources, Filed His Return Of Anilkumar Dwarkaprasad Modani Vs. The Dcit Asst. Year : 2013-14

Housing Colony Circle-2(1)(1) v/s. Chavaj, Bharuch 392 002 Vadodara (Gujarat) "थायी लेखा सं./PAN:ACNPM 0273 C अपीलाथ&/ (Appellant) '( यथ&/ (Respondent) Assessee by : Shri Hemant Suthar, AR Revenue by : Shri Surendra Kumar, Sr.DR सुनवाई की तारीख/Date of Hearing : 12/11/2024 घोषणा की तारीख /Date of Pronouncement: 21/11/2024 आदेश/O R D E R PER MAKARAND V. MAHADEOKAR

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.

House Ltd reported in 194 taxman 324. The relevant portion of the judgment is reproduced as hereunder: While exercising power under section 263, the Commissioner has to be satisfied that the order is prejudicial to the interest of the revenue and there are materials available on record which require the Commissioner to satisfy him in a, prima facie, manner that

NAUTILUS PREMISE OWNERS ASSOCIATION,VADODARA vs. THE INCOME TAX OFFICER, WARD-1(2)(2), VADODARA

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

property. Neither of these income streams depends on the security, cleanliness, or maintenance of the common areas of the complex. 3. Furthermore, it is important to note that the rent income declared by the appellant is nominal (Rs. 32,540), whereas the total expenses claimed are disproportionately high at Rs. 27,57,686. Even if some of these expenses could

TANVI SANDEEP MATHUR,AHMEDABAD vs. THE DCIT, CIRCLE-7(1), AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Smt. Annapurna Gupta & Ms. Suchitra Kambleassessment Year: 2011-12

191 (SC) 3) Hon'ble Gujarat High Court in the case of Harikishan Sunderlal Virmani vs. Deputy Commissioner of Income Tax, Circle-2(1) [2017] 394 ITR 146 (Gujarat) 4) Hon’ble Gujarat High court in the case of Anil Hassan and Gajwani vs. Income-tax Officer 223 Taxmann 126 (Guj) Assessment Year: 2011-12 Page

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

properties of the company including manufacturing facilities, research facilities and office premises. v. A minimum fixed asset cover of 1.1 times over these assets. vi. Net debt / EBIDTA to be not more than 4.5 times vii. Debt gearing not to exceed 1.65 times during the currency of facility. viii. Debt service cover ratio shall not be less than 1.33 times

THE ITO, WARD-3(2)(5),, AHMEDABAD vs. SHREE SHREYANSHNATH DEVELOPERS, AHMEDABAD

In the result, the appeal of the Revenue is allowed

Bench: Smt.Annapurna Gupta & Shri T.R. Senthil Kumarassessment Year :2007-08 Ito, Ward-3(2)(5) Shree Shreyansnath Developers Ahmedabad. Vs Block No.832, Binor Bungalows Ghuma Gam Tal. Daskroi, Ahmedabad. Pan : Aaxfs 3932 L

property then the responsibility for the same will be of Contractor. (6) Shri Shreyansnath Developer can demand the amount of the said bungalows from the members. As per the resolution passed in General Meeting of the Society, the development activity of the society has been handed over to Shri Shreyansh Developers. Accordingly Shri Shreyansh Developers can demand moneys from

SHRI ARVINDBHAI POPATLAL PATEL,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-13(4),, AHMEDABAD

In the result appeal filed by the assessee is partly allowed

Bench: Shri Waseem Ahmed, Accountant Memebr & Shri Siddhartha Nautiyal, Judicial Memebr

Hous. Soc. Building, Ashram Road, Ltd., Nr. Balaji Villa, S. P. Ahmedabad - 380009 Ring Road, Chandkheda, Ahmedabad - 382424 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : ADRPP2567K .. (अपीलाथ" /Appellant) (""यथ" / Respondent) अपीलाथ" ओर से/Appellant by : Shri S. N. Divatia, AR Shri Atul Pandey, Sr. D.R. ""यथ" क" ओर से / Respondent by : 02/06/2022 सुनवाई क" तार"ख / Date of Hearing घोषणा

THE ITO, WARD-3(2)(4), AHMEDABAD vs. M/S. RADHE KRISHNA DEVELOPERS, AHMEDABAD

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

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

property being free from encumbrances may also be the reason for its presence at the premises of the present owners of the land. Mere presence of unacted documents at the survey premises cannot be the reason for visiting the appellant with an addition. Coming to the issue of the assessee having indicated his willingness to obtain confirmation from the vendor

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 DCIT, CIRCLE-4,, AHMEDABAD vs. GHCL LIMITED, AHMEDABAD

House of Lords that in order to a claim a deduction, it is enough to show that the money is expended, not of necessity and with a view to direct and immediate benefit, but voluntarily and on grounds of commercial expediency and in order to indirectly to facilitate the carrying on the business. The above test in Atherion'scase, (supra

GHCL LIMITED,AHMEDABAD vs. THE DY.CIT., CIRCLE-4,, AHMEDABAD

House of Lords that in order to a claim a deduction, it is enough to show that the money is expended, not of necessity and with a view to direct and immediate benefit, but voluntarily and on grounds of commercial expediency and in order to indirectly to facilitate the carrying on the business. The above test in Atherion'scase, (supra