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

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

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

JT.CIT(E),CIRCLE -2 AHMEDABAD, AHMEDABAD vs. VADODARA URBAN DEVELOPMENT AUTHORITY , VADODARA

In the result, the appeal of the Department is dismissed

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

2(15), i.e., relief of the poor, education or medical relief. Consequently, where the purpose of a trust or institution is relief of the poor, education or medical relief, it will constitute 'charitable purpose even if it incidentally involves the carrying on of commercial activities 'Relief of the poor' encompasses a wide range of objects for the welfare

JT.CIT(EXEMPTION)CIRCL-2 AHMEDABAD, AHMEDABAD vs. VADODARA URBAN DEVELOPMENT AUTHORITY, VADODARA

In the result, the appeal of the Department is dismissed

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

2(15), i.e., relief of the poor, education or medical relief. Consequently, where the purpose of a trust or institution is relief of the poor, education or medical relief, it will constitute 'charitable purpose even if it incidentally involves the carrying on of commercial activities 'Relief of the poor' encompasses a wide range of objects for the welfare

VADODARA URBAN DEVELOPMENT AUTHORITY,VADODARA vs. THE ACIT, CIRCLE-2 (EXEMP), AHMEDABAD

In the result, the appeal of the Department is dismissed

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

2(15), i.e., relief of the poor, education or medical relief. Consequently, where the purpose of a trust or institution is relief of the poor, education or medical relief, it will constitute 'charitable purpose even if it incidentally involves the carrying on of commercial activities 'Relief of the poor' encompasses a wide range of objects for the welfare

VADODARA URBAN DEVELOPMENT AUTHORITY,VADODARA vs. THE ACIT, CIRCLE-2 (EXEMP), AHMEDABAD

In the result, the appeal of the Department is dismissed

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

2(15), i.e., relief of the poor, education or medical relief. Consequently, where the purpose of a trust or institution is relief of the poor, education or medical relief, it will constitute 'charitable purpose even if it incidentally involves the carrying on of commercial activities 'Relief of the poor' encompasses a wide range of objects for the welfare

VADODARA URBAN DEVELOPMENT AUTHORITY,VADODARA vs. THE ACIT, CIRCLE-2 (EXEMP), AHMEDABAD

In the result, the appeal of the Department is dismissed

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

2(15), i.e., relief of the poor, education or medical relief. Consequently, where the purpose of a trust or institution is relief of the poor, education or medical relief, it will constitute 'charitable purpose even if it incidentally involves the carrying on of commercial activities 'Relief of the poor' encompasses a wide range of objects for the welfare

JT.CIT(E), CIRCLE-2 AHMEDABAD, AHMEDABAD vs. VADODARA URBAN DEVELOPMENT AUTHORITY , VADODARA

In the result, the appeal of the Department is dismissed

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

2(15), i.e., relief of the poor, education or medical relief. Consequently, where the purpose of a trust or institution is relief of the poor, education or medical relief, it will constitute 'charitable purpose even if it incidentally involves the carrying on of commercial activities 'Relief of the poor' encompasses a wide range of objects for the welfare

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

THY ACIT, CIRCLE-2(1)(2), , AHMEDABAD vs. M & B ENGINEERING LIMITED,, AHMEDABAD

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

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad

House Technologies LLC S, Vibgyour International FZ LLC have also been paid in the preceding years and the AO has allowed such commission payments and no disallowance in this regard has been made in the scrutiny assessment completed for A. Y. 2011-12. It was also pleaded that they have complied the provisions of I. T. Act, DTAA and accordingly

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

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

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

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