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

254/- 19368 Sq. Benecia Highway, Feet Ahmedabad 03 Venus Vejalpur, Residential 7 94,99,205/- 11529 Parkland Ahmedabad sq.Feet 04 Venus Jodhpur Commercial 4 2,14,92,555 6261 Amadeus Cross Sq.Feet Roads, Ahmedabad 12.1 But, the assessee had not declared any income from house property with respect to the completed units which were unsold. Accordingly, the AO issues

SHRI PURSHOTTAM B. PITRODA,,AHMEDABAD vs. THE ACIT, RANGE -12,, AHMEDABAD

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

Bench: Shri N.K. Billaiya & Shri Mahavir Prasad

house at Shilaj for labour. One residential property is used by proprietor. Other property are used by his daughter and son. So there is no addition as notional income. The value of the all the said properties is Rs.48,57,897/- as per balance sheet. The contention of the assessee is seen and it was observed that the property income

ITO, WARD-3(1)(2),, AHMEDABAD vs. PASL WINDTECH PVT.LTD.,, AHMEDABAD

In the result, appeal filed by the assessee is allowed for statistical purposes and filed by the department is dismissed

Bench: Shri Pramod Kumar & Ms. Madhumita Roy

section 23(1) and reached to a reasonable rent of Rs.25/-per sq.yd. This way, A.O. has given sufficient benefits to the appellant for any other estimation of rental ITA Nos.3212 & 3460/Ahd/2014 PASL Windtech pvt. Ltd. vs ITO Asst.Year – 2011-12 income. If monthly rent of Rs.257-per sq.yd. per month is converted per sq.mtr. It will be Rs.29.90 per sq.mtr

PASL WINDTECH PVT. LTD.,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-5(2),, AHMEDABAD

In the result, appeal filed by the assessee is allowed for statistical purposes and filed by the department is dismissed

Bench: Shri Pramod Kumar & Ms. Madhumita Roy

section 23(1) and reached to a reasonable rent of Rs.25/-per sq.yd. This way, A.O. has given sufficient benefits to the appellant for any other estimation of rental ITA Nos.3212 & 3460/Ahd/2014 PASL Windtech pvt. Ltd. vs ITO Asst.Year – 2011-12 income. If monthly rent of Rs.257-per sq.yd. per month is converted per sq.mtr. It will be Rs.29.90 per sq.mtr

SHRI DASHRATH AMBALAL PATEL,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD -7(2),, AHMEDABAD

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

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./I.T.A. No. 296/Ahd/2014 ("नधा"रण वष" / Assessment Year : 2007-08) Dashrath Ambalal Patel, Ito, बनाम/ 9, Jashwant Society, Ward – 7(2), Vs. Jodhpur Char Rasta, Satellite, Ahmedabad. Ahmedabad – 380 015. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Akypp 5852 G .. (अपीलाथ"/Appellant) (""यथ" / Respondent) अपीलाथ" ओर से/ Appellant By : Shri S. N. Divatia & Mehul Talera, A.R. ""यथ" क" ओर से/Respondent By: Shri N. J. Vyas, Sr. D.R.

house property but only on the fact that for the same property the registration deed was made on 10.10.11, the time limit as stipulated under section 54F of the Act was not adhered hence the deduction was rejected. The appellant emphatically contended that it made investment of Rs.11,11,000/- till 15/12/2006 which was not disputed by A.O. also

M/S. SERVASHANTI PROPERTIES PVT. LTD.,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-4(1)(1),, AHMEDABAD

In the result, the appeal of the assesse is allowed

254 (Delhi) in Tax Appeal No. 442 of 2003 order daed 26-07-2016. During the course of appellate proceedings before us, the ld. counsel has submitted paper book containing detail of submission made before the assessing officer and before the ld. CIT(A) during the course of assessment and appellate proceedings. The ld. counsel contended that income earned

AXIS BANK LIMITED,AHMEDABAD vs. THE DY.CIT, CIRCLE-1 NOW CIRCLE-1(1)(1), AHMEDABAD

In the result appeal of the Revenue is partly allowed for statistical purposes

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedsl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 311/Ahd/2016 2010-11 Axis Bank Limited, D.C.I.T., “Trishul”, 3Rd Floor, Circle-1(1)(1) Opp. Samtheshwar Ahmedabad. Mahadev Near Law Garden, Ellisbridge, Ahmedabad-380006. Pan: Aaacu2414K 2. 2176/Ahd/2016 2011-12 Axis Bank Limited, D.C.I.T., “Trishul”, 3Rd Floor, Circle-1(1)(1) Opp. Samtheshwar Ahmedabad. Mahadev Near Law Garden, Ellisbridge, Ahmedabad-380006. Pan: Aaacu2414K 3. 2173/Ahd/2016 2011-12 D.C.I.T., Axis Bank Limited, Circle-1(1)(1) Ahmedabad. Ahmedabad. Pan: Aaacu2414K 4. 165/Ahd/2017 2012-13 Axis Bank Limited, D.C.I.T., Ahmedabad. Circle-1(1)(1) Ahmedabad. Pan: Aaacu2414K 5. 287/Ahd/2017 2012-13 D.C.I.T., Axis Bank Limited, Circle-1(1)(1) Ahmedabad. Ahmedabad. Pan: Aaacu2414K 6-7 520 & 2013-14 Axis Bank Limited, D.C.I.T., 521/Ahd/2018 & Ahmedabad. Circle-1(1)(1) 2014-15 Ahmedabad. Pan: Aaacu2414K 8-9 604 & 605/ 2013-14 D.C.I.T., Axis Bank Limited, Ahd/2018 & Circle-1(1)(1) Ahmedabad. 2014-15 Ahmedabad. Pan: Aaacu2414K

254 only to decide the grounds which arise from the order of the Commissioner of Income-tax (Appeals). Both the assessee as well as the Department have a right to file an appeal/cross-objections before the Tribunal. The Tribunal should not be prevented from considering questions of law arising in assessment proceedings, although not raised earlier. ITA nos.311/Ahd/2016 and 8 others

M/S.HDB FINANCIAL SERVICES LTD.,,AHMEDABAD vs. THE PR. CIT-1 , AHMEDABAD

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

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

254, read with section 36(1)(vii), of the Income-tax Act, 1961 – Appellate Tribunal - Powers of - Power to recall - Assessee had written off an advance of Rs. 65lakhs as bad debts on ground that despite filing a suit sum was not recoverable – Issue had reached up to Tribunal - Tribunal by an ex-parte order held against assessee - Subsequently, however

ATUL LIMITED,AHMEDABAD vs. THE ACIT.,RANGE-1,, AHMEDABAD

Appeal is dismissed

house property, Profit & Gains of business or profession, Capital Gains & Income from other sources. The Section 14A relates to expenditure incurred in relation to income which are not includable in Total Income and which are exempted from tax. No taxes are therefore levied on such exempted income. The Section 14A had been incorporated in the Income Tax Act to ensure

THE ACIT,(OSD)CIRCLE-8,, AHMEDABAD vs. THE TORRENT PHARMACEUTICALS LTD.,, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 907/Ahd/2012 2007-08 M/S. Torrent Add. Cit, Pharmaceuticals Ltd., Range – 8, Torrent House, Off. Ahmedabad. Ashram Road, Ahmedabad. Pan No. Aaact 5456 A 2. 938/Ahd/2012 2007-08 The Acit, M/S. Torrent Ahmedabad. Pharmaceuticals Ltd. Ahmedabad. 3. 1634/Ahd/2012 2008-09 M/S. Torrent The Acit, Pharmaceuticals Ltd. Ahmedabad Ahmedabad. 4. 1725/Ahd/2012 2008-09 The Acit M/S. Torrent Ahmedabad. Pharmaceuticals Ltd., Ahmedabad.

254 (Bombay) wherein the High Court has not questioned the ITAT's decision with respect to the transaction being an international transaction. 2.17 From the above discussion it is clear that the corporate guarantee transaction is approved as international transaction covered by the provisions of section 92B by the Hon'ble Bombay High Court. 2.18 In view of the above

THE TORRENT PHARMACEUTICALS,AHMEDABAD vs. THE ADDITIONAL CIT, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 907/Ahd/2012 2007-08 M/S. Torrent Add. Cit, Pharmaceuticals Ltd., Range – 8, Torrent House, Off. Ahmedabad. Ashram Road, Ahmedabad. Pan No. Aaact 5456 A 2. 938/Ahd/2012 2007-08 The Acit, M/S. Torrent Ahmedabad. Pharmaceuticals Ltd. Ahmedabad. 3. 1634/Ahd/2012 2008-09 M/S. Torrent The Acit, Pharmaceuticals Ltd. Ahmedabad Ahmedabad. 4. 1725/Ahd/2012 2008-09 The Acit M/S. Torrent Ahmedabad. Pharmaceuticals Ltd., Ahmedabad.

254 (Bombay) wherein the High Court has not questioned the ITAT's decision with respect to the transaction being an international transaction. 2.17 From the above discussion it is clear that the corporate guarantee transaction is approved as international transaction covered by the provisions of section 92B by the Hon'ble Bombay High Court. 2.18 In view of the above

THE TORRENT PHARMACEUTICALS LTD.,,AHMEDABAD vs. THE ACIT.,CIRCLE-8,, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 907/Ahd/2012 2007-08 M/S. Torrent Add. Cit, Pharmaceuticals Ltd., Range – 8, Torrent House, Off. Ahmedabad. Ashram Road, Ahmedabad. Pan No. Aaact 5456 A 2. 938/Ahd/2012 2007-08 The Acit, M/S. Torrent Ahmedabad. Pharmaceuticals Ltd. Ahmedabad. 3. 1634/Ahd/2012 2008-09 M/S. Torrent The Acit, Pharmaceuticals Ltd. Ahmedabad Ahmedabad. 4. 1725/Ahd/2012 2008-09 The Acit M/S. Torrent Ahmedabad. Pharmaceuticals Ltd., Ahmedabad.

254 (Bombay) wherein the High Court has not questioned the ITAT's decision with respect to the transaction being an international transaction. 2.17 From the above discussion it is clear that the corporate guarantee transaction is approved as international transaction covered by the provisions of section 92B by the Hon'ble Bombay High Court. 2.18 In view of the above

THE ACIT, CIRCLE-8,, AHMEDABAD vs. THE TORRENT PHARMACEUTICALS, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 907/Ahd/2012 2007-08 M/S. Torrent Add. Cit, Pharmaceuticals Ltd., Range – 8, Torrent House, Off. Ahmedabad. Ashram Road, Ahmedabad. Pan No. Aaact 5456 A 2. 938/Ahd/2012 2007-08 The Acit, M/S. Torrent Ahmedabad. Pharmaceuticals Ltd. Ahmedabad. 3. 1634/Ahd/2012 2008-09 M/S. Torrent The Acit, Pharmaceuticals Ltd. Ahmedabad Ahmedabad. 4. 1725/Ahd/2012 2008-09 The Acit M/S. Torrent Ahmedabad. Pharmaceuticals Ltd., Ahmedabad.

254 (Bombay) wherein the High Court has not questioned the ITAT's decision with respect to the transaction being an international transaction. 2.17 From the above discussion it is clear that the corporate guarantee transaction is approved as international transaction covered by the provisions of section 92B by the Hon'ble Bombay High Court. 2.18 In view of the above

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

254 of the paper book: “a) To promote research and development on the impact of the Art of Living techniques on the physical and mental states of people as formulated by Yoga Shiromani Sri Sri Pandit Ravishankar in the realm of Yoga and Meditation. b) To promote a scientific study and research of ancient literature and Yoga. c) To afford

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

254 of the paper book: “a) To promote research and development on the impact of the Art of Living techniques on the physical and mental states of people as formulated by Yoga Shiromani Sri Sri Pandit Ravishankar in the realm of Yoga and Meditation. b) To promote a scientific study and research of ancient literature and Yoga. c) To afford

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

254 of the paper book: “a) To promote research and development on the impact of the Art of Living techniques on the physical and mental states of people as formulated by Yoga Shiromani Sri Sri Pandit Ravishankar in the realm of Yoga and Meditation. b) To promote a scientific study and research of ancient literature and Yoga. c) To afford

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

254 of the paper book: “a) To promote research and development on the impact of the Art of Living techniques on the physical and mental states of people as formulated by Yoga Shiromani Sri Sri Pandit Ravishankar in the realm of Yoga and Meditation. b) To promote a scientific study and research of ancient literature and Yoga. c) To afford

SMT. MAYA K. DHARWANI,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-7(2)(3),, AHMEDABAD

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

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita No.2094/Ahd/2018 "नधा"रण वष" /Assessment Year : 2013-14 Smt. Maya K. Dharwani The Income Tax Officer Block No.88, B Ward बनाम/ Ward-7(2)(3) Opp. Railway Station Ahmedabad V/S. Kuber Nagar Ahmedabad - 382 340 "थायी लेखा सं./Pan: Aefpd 1506 D अपीलाथ"/ (Appellant) ….. "" यथ"/ (Respondent) Assessee By : Shri S.N. Divatia, Ar Revenue By : Shri V.K. Mangla, Sr.Dr सुनवाई क" तार"ख/Date Of Hearing : 12/08/2024 घोषणा क" तार"ख /Date Of Pronouncement: 23/08/2024 आदेश/O R D E R Per Makarand V. Mahadeokar, Am:

house property as main source of income. The assessee filed her return of income for the A.Y. 2013-14 on 14-03-2014 declaring total income of Rs.8,63,230/-. The case was selected for the scrutiny and the assessment was completed u/s.143(3) of the Act, after disallowing deduction u/s.54EC

HARGOVIND MOTIBHAI DESAI,AHMEDABAD vs. ITO WARD 3(3)(8), AHMEDABAD (EXISTING ITO WARD 3(3)(1), AHMEDABAD), AHMEDABAD

In the result, both the appeals of the assessee are allowed for statistical purposes

Bench: Dr. B.R.R. Kumar, Vice-Shri Siddhartha Nautiyal

section 68 of the Act and therefore the learned AO should be directed to delete the said addition while computing the total income. 3. That the learned National Faceless Appeal Centre, Delhi has erred in law and facts by treating rent income of Rs. 6,60,000/- as income from other sources, out of offered business income and against which