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. 6. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) ought to have upheld the order of the A.O. 7. It is, therefore, prayed that the order of the Ld. CIT(A) be set aside and that of the A.O. be restored to the above extent. 3. The first issue

DCIT, CIRCLE-1(1)(1),, AHMEDABAD vs. ADANI ENTERPRISES LTD., AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

House, Nr. D.C.I.T, Mithakhali Six Roads, 7 No.523/Ahd/2020 2016-17 Circle-1(1)(1), Navrangpura, Ahmedabad Ahmedabad. PAN :AABCA2804L (Applicant) (Responent) : Shri Alok Kumar, C.I.T.DR Revenue by : Shri Vartik Choksi, A.R. Assessee by ITA No.285/Ahd/2020 with C.O No.81/Ahd/2020 and 5 others A.Y. 2013-14 & Ors. 2 सुनवाई क" तार"ख/Date of Hearing : 05/08/2022 घोषणा क" तार"ख /Date

THE DCIT CIRCLE-1(1)(1), AHMEDABAD vs. M/S. ADANI ENTERPRISE LTD, AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

House, Nr. D.C.I.T, Mithakhali Six Roads, 7 No.523/Ahd/2020 2016-17 Circle-1(1)(1), Navrangpura, Ahmedabad Ahmedabad. PAN :AABCA2804L (Applicant) (Responent) : Shri Alok Kumar, C.I.T.DR Revenue by : Shri Vartik Choksi, A.R. Assessee by ITA No.285/Ahd/2020 with C.O No.81/Ahd/2020 and 5 others A.Y. 2013-14 & Ors. 2 सुनवाई क" तार"ख/Date of Hearing : 05/08/2022 घोषणा क" तार"ख /Date

THE DCIT, CIRCLE-1(1)(1), AHMEDABAD vs. M/S. ADANI ENTERPRISE LTD, AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

House, Nr. D.C.I.T, Mithakhali Six Roads, 7 No.523/Ahd/2020 2016-17 Circle-1(1)(1), Navrangpura, Ahmedabad Ahmedabad. PAN :AABCA2804L (Applicant) (Responent) : Shri Alok Kumar, C.I.T.DR Revenue by : Shri Vartik Choksi, A.R. Assessee by ITA No.285/Ahd/2020 with C.O No.81/Ahd/2020 and 5 others A.Y. 2013-14 & Ors. 2 सुनवाई क" तार"ख/Date of Hearing : 05/08/2022 घोषणा क" तार"ख /Date

DCIT, CIRCLE-1(1)(1),, AHMEDABAD vs. ADANI ENTERPRISES LTD., AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

House, Nr. D.C.I.T, Mithakhali Six Roads, 7 No.523/Ahd/2020 2016-17 Circle-1(1)(1), Navrangpura, Ahmedabad Ahmedabad. PAN :AABCA2804L (Applicant) (Responent) : Shri Alok Kumar, C.I.T.DR Revenue by : Shri Vartik Choksi, A.R. Assessee by ITA No.285/Ahd/2020 with C.O No.81/Ahd/2020 and 5 others A.Y. 2013-14 & Ors. 2 सुनवाई क" तार"ख/Date of Hearing : 05/08/2022 घोषणा क" तार"ख /Date

SHRI RAMESHKUMAR TRIKAMLAL PADHIYAR,,AHMEDABAD vs. THE JT.CIT, CIRCLE-7,, AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Amarjit Singhआयकर अपील सं./ Ita No.322/Ahd/2015 "नधा"रण वष"/Asstt. Year: 2010-11 Shri Rameshkumar Trikamlal Padhiyar Vs. Jcit, Cir.7 B-604, Prayag Apts., Ahmedabad. Opp: Nirma Vihar School Bodakdev Ahmedabad 380 054. Pan : Ackpp 6965 H

house property in past. As per the judgment passed in the case of CIT v. Mithlesh Kumari, (1973) 92 ITR (Del. HC) it was held that the actual cost of the asset need not be the only those costs incurred on the date of acquisition. The Delhi High Court held that the interest paid on borrowed funds for the purchase

JCIT(OSD), CIR-3(1)(2), AHMEDABAD vs. RECKITT BENCKISER HEALTHCARE (INDIA) LTD, HARYANA

In the result, appeal of the Revenue is dismissed

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

property, liabilities and issues of the resulting company. Under section 47(vib) of the Income Tax Act, 1961, a demerger involving transfer of capital assets by the demerged company to the resulting company (Indian Company). will not attract levy of capital gain tax. Similarly, under section 47(vid) of the Income Tax Act, 1961 if there is an issue

RECKITT BENCKISER HEALTHCARE INDIA PVT. LTD., ( FORMERLY KNOWN AS RECKITT BENCKISER HEALTHCARE INDIA LTD.,),HARYANA vs. DCIT, CIRCLE-3(1)(2), AHMEDABAD

In the result, appeal of the Revenue is dismissed

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

property, liabilities and issues of the resulting company. Under section 47(vib) of the Income Tax Act, 1961, a demerger involving transfer of capital assets by the demerged company to the resulting company (Indian Company). will not attract levy of capital gain tax. Similarly, under section 47(vid) of the Income Tax Act, 1961 if there is an issue

THE ACIT,(OSD), CIRCLE-9,, AHMEDABAD vs. SHRI PARESHKUMAR RAMANLAL JANI,, AHMEDABAD

In the result, the appeal of the revenue and the cross objection of the assessee are dismissed

property. In my opinion the same will qualify as expenditure on construction of residential house. But for the leveling of the land, raising its level and compound wall around the plot, a proper house to be called as "residential house" cannot be constructed. Therefore the same/ are part and parcel of residential house and expenses on such factors cannot

THE DY. DIT (EXEMPTION), CIRCLE-1,, AHMEDABAD vs. FRIENDS OF WWB INDIA,, AHMEDABAD

In the result, the appeal of the revenue and cross objection of the assesseee both are dismissed

216, the House of Lords pointedly considered the impact of Furniss case [1984] 1 All ER 530 (HL), Burma Oil's case [1982] Simon's Tax Cases 30 and Ramsay's case [1982] AC 300 (HL). The Law Lords were at great pains to explain away each of these judgments. Lord Keith of Kinkel says, with reference to the trilogy

JADE GRANITES INDUSTRIES,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-1(1)(1),, AHMEDABAD

In the result, the appeal of the assessee in ITA No

Bench: The Income Tax Appellate Tribunal, Ahmedabad Bench, Ahmedabad Which Has Arisen From The Appellate Order Dated 23-11-2023 In Din & Order No. Itba/Nfac/S/250/2023-24/1058173176(1)

house property, and remuneration, interest and share profit from partnership firm. Therefore, there is no source of income where cash was generated and deposited in bank account and issued cheques out of these funds. Shri Sanjaykumar not submitted his cash book also failed to explain source of cash deposit in bank account. Shri Harpalsinh Yadav failed to submit written document

LOXIM INDUSTRIES LTD.,AHMEDABAD vs. DCIT (OSD)-1, CIRCLE-4,, AHMEDABAD

In the result, the captioned appeal of assessee is allowed

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kedia

216 (Karnataka). ITA No. 1564/Ahd/18 [Loxim Industries Ltd. vs. DCIT(OSD)] A.Y. 2011-12 - 5 - 8. The learned DR for the Revenue, on the other hand, relied upon the orders passed by the AO and CIT(A). The learned DR further submitted that the issue is squarely governed by the CBDT Circular No. 7/DV/2013 [FILE NO.279/MIS./M-116/2012-ITJ], DATED

SHRI SHARAD SHYAMSUNDER RUNGTA,,AHMEDABAD vs. THE DY.CIT, CIRCLE-11,, AHMEDABAD

Appeal is allowed

house property income and income from other sources. He filed his return on 14.10.2010 declaring total income of Rs.20,31,620/-. The assessing officer noticed during scrutiny that the assessee had earned exempt income from dividends of Rs.164340 as well as claimed interest expenditure of Rs.3,23,715/-. The Assessing Officer invoked section 14A r.w.s Rule 8D of the Income

MEGHMANI ORGANICS LTD.,,AHMEDABAD vs. THE DCIT.,CENT.CIRCLE-1(1),, AHMEDABAD

In the result, assessee’s appeal is allowed for statistical purpose

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

House, Shrinivas Society, Central Circle-1(1), Vikas Gruh Road, Ahmedabad-7 Ahmedabad PAN No. AAB CM0 644 E (Appellant) (Respondent) .. Appellant by : Shri S. N. Soparkar Sr. Advocate with Shri Parin Shah AR Respondent by : Shri Vinod Tanwani, Sr. D.R. Date of Hearing 22.07.2020 Date of Pronouncement 28.07.2020 O R D E R PER Ms. MADHUMITA

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

ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, AHMEDABAD vs. M/S. MASTEK LTD.,, AHMEDABAD

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

houses. It was not the business of the appellant to invest in mutual funds and, therefore, no direct expenses have been incurred. It is also been submitted and pointed out by the appellant that in A.Y. 2006 - 07, the CIT(A) has disallowance of Rs.2 lakh based on reasonable estimate has also submitted, on without prejudice basis, that the amount

MASTEK LIMITED,AHMEDABAD vs. THE JT.CIT, RANG4,, AHMEDABAD

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

houses. It was not the business of the appellant to invest in mutual funds and, therefore, no direct expenses have been incurred. It is also been submitted and pointed out by the appellant that in A.Y. 2006 - 07, the CIT(A) has disallowance of Rs.2 lakh based on reasonable estimate has also submitted, on without prejudice basis, that the amount

MASTEK LIMITED,,AHMEDABAD vs. THE DY.CIT, (OSD) - 1, CIRCLE-4,, AHMEDABAD

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

houses. It was not the business of the appellant to invest in mutual funds and, therefore, no direct expenses have been incurred. It is also been submitted and pointed out by the appellant that in A.Y. 2006 - 07, the CIT(A) has disallowance of Rs.2 lakh based on reasonable estimate has also submitted, on without prejudice basis, that the amount

THE JT. CIT, RANGE-4, AHMEDABAD vs. M/S. MASTEK LTD.,, AHMEDABAD

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

houses. It was not the business of the appellant to invest in mutual funds and, therefore, no direct expenses have been incurred. It is also been submitted and pointed out by the appellant that in A.Y. 2006 - 07, the CIT(A) has disallowance of Rs.2 lakh based on reasonable estimate has also submitted, on without prejudice basis, that the amount