NAM GROUP ASLALI,AHMEDABAD vs. AO, CPC, BANGALORE-PRESENT -THE ITO, WARD-3(1)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita Nos.1610/Ahd/2024 & 1611/Ahd/2024 िनधा"रण वष" /Assessment Years : 2022-23 & 2023-24 Respectively Nam Group Aslali The Ao, Cpc बनाम/ 172/1, Premchand House Bangalore - V/S. Old High Court Way Present Ito Ashram Road Ward-3(1)(1) Ahmedabad Ahmedabad "थायी लेखा सं./Pan:Aaaan 0551 C (अपीलाथ%/ Appellant) (&' यथ%/ Respondent) Assessee By : Shri P.F. Jain, Ar Revenue By : Shri B.P. Srivastav, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 23/01/2025 घोषणा की तारीख /Date Of Pronouncement: 28/01/2025 आदेश/O R D E R Per Makarand V. Mahadeokar, Am: Both The Appeals, Filed By The Assessee Pertain To Assessment Years (Ays) 2022-23 & 2023-24 & Arise From The Orders Passed By The Office Of The Commissioner Of Income Tax, Appeal, Addl/Jcit-10 Mumbai [Hereinafter Referred To As “Cit(A)”] In Upholding The Levy Of Surcharge At The Maximum Marginal Rate Under Section 167B Of The Income Tax Act, 1961 [Hereinafter Referred To As “The Act”]. The Levy Of Surcharge Was Determined Pursuant To Intimations Issued By The Cpc, Bengaluru Under Section 143(1) Of The Act. Since The Facts & Grounds Of Appeal For Both Years Are Identical

house property, and the co-ownership agreement specifies the specific and determinate shares of the co-owners. The AR further submitted that Under Section 26

SHRI BHAGWANBHAI R. MAKWANA,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-14(2),, AHMEDABAD

Appeal is dismissed

Bench: Shri Siddhartha Nautiyal (Judicial Member), Shri Makarand V. Mahadeokar (Accountant Member)

26,06,631/-. The appellant only submitted that the cash deposit in the bank account is out of the ATM withdrawal. However, no such evidence was submitted to establish the nexus between the cash withdrawal and cash deposit. Hence the sources of cash deposit in the bank remain unexplained. 3.5. The AO also levied the penalty on undisclosed house property

BHAKTIBEN BHAGWATSINH CHAVDA, (L/H OF LATE BHAGWATSINH J CHAVDA),AHMEDABAD vs. ITO, WARD-14(2),, AHMEDABAD

Appeal is dismissed

Bench: Shri Siddhartha Nautiyal (Judicial Member), Shri Makarand V. Mahadeokar (Accountant Member)

26,06,631/-. The appellant only submitted that the cash deposit in the bank account is out of the ATM withdrawal. However, no such evidence was submitted to establish the nexus between the cash withdrawal and cash deposit. Hence the sources of cash deposit in the bank remain unexplained. 3.5. The AO also levied the penalty on undisclosed house property

SHRI BHAGWANBHAI RANCHHODBHAI MAKWANA,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-5(1)(2),, AHMEDABAD

Appeal is dismissed

Bench: Shri Siddhartha Nautiyal (Judicial Member), Shri Makarand V. Mahadeokar (Accountant Member)

26,06,631/-. The appellant only submitted that the cash deposit in the bank account is out of the ATM withdrawal. However, no such evidence was submitted to establish the nexus between the cash withdrawal and cash deposit. Hence the sources of cash deposit in the bank remain unexplained. 3.5. The AO also levied the penalty on undisclosed house property

LATE BHAGWATSINH JIBHUBHAI CHAVDA)L/H.BHAKTIBEN BHAGWATSINH CHAVDA,,AHMEDABAD vs. ITO, WARD-5(1)(2),, AHMEDABAD

Appeal is dismissed

Bench: Shri Siddhartha Nautiyal (Judicial Member), Shri Makarand V. Mahadeokar (Accountant Member)

26,06,631/-. The appellant only submitted that the cash deposit in the bank account is out of the ATM withdrawal. However, no such evidence was submitted to establish the nexus between the cash withdrawal and cash deposit. Hence the sources of cash deposit in the bank remain unexplained. 3.5. The AO also levied the penalty on undisclosed house property

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 qua the properties held as stock in trade on account of deemed rental income. 6.4 As the assessee succeeds on the reasoning as elaborated in the preceding paragraph, therefore we are not inclined to adjudicate the other contentions raised by the Ld.AR for the assessee. Hence the ground of appeal of the assessee is allowed. ITA Nos.37-38/AHD/2021 A.Y.s

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 qua the properties held as stock in trade on account of deemed rental income. 6.4 As the assessee succeeds on the reasoning as elaborated in the preceding paragraph, therefore we are not inclined to adjudicate the other contentions raised by the Ld.AR for the assessee. Hence the ground of appeal of the assessee is allowed. ITA Nos.37-38/AHD/2021 A.Y.s

THE ACIT,ANAND CIRCLE,, ANAND vs. NATIONAL DAIRY DEVELOPMENT BOARD, ANAND

In the result, Ground No. 7 of the assessee’s appeal is allowed for statistical purposes

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

26. The next issue for consideration is that whether the assessee is eligible for depreciation on such building. We are of the considered view that once the income is held to be taxable as income from “house property” and not as “business income”, and further, admittedly the assessee has given the building on rent on long term basis, with

THE DY.COMMISSIONER OF INCOME TAX.,ANAND CIRCLE,, ANAND vs. NATIONAL DAIRY DEVELOPMENT BOARD, ANAND

In the result, Ground No. 7 of the assessee’s appeal is allowed for statistical purposes

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

26. The next issue for consideration is that whether the assessee is eligible for depreciation on such building. We are of the considered view that once the income is held to be taxable as income from “house property” and not as “business income”, and further, admittedly the assessee has given the building on rent on long term basis, with

NATIONAL DAIRY DEVELOPMENT BOARD,,ANAND vs. THE ACIT.,ANAND CIRCLE,, ANAND

In the result, Ground No. 7 of the assessee’s appeal is allowed for statistical purposes

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

26. The next issue for consideration is that whether the assessee is eligible for depreciation on such building. We are of the considered view that once the income is held to be taxable as income from “house property” and not as “business income”, and further, admittedly the assessee has given the building on rent on long term basis, with

NATIONAL DAIRY DEVELOPMENT BOARD,,ANAND vs. THE ASSTT. COMMISSIONER OF INCOME TAX, ANAND CIRCLE,, ANAND

In the result, Ground No. 7 of the assessee’s appeal is allowed for statistical purposes

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

26. The next issue for consideration is that whether the assessee is eligible for depreciation on such building. We are of the considered view that once the income is held to be taxable as income from “house property” and not as “business income”, and further, admittedly the assessee has given the building on rent on long term basis, with

NATIONAL DAIRY DEVELOPMENT BOARD,ANAND vs. THE DY.CIT, ANAND CIRCLE, ANAND

In the result, the appeals filed by the Revenue in ITA Nos

Bench: DR. BRR Kumar, Vice President\nAnd Shri T. R. Senthil Kumar (Judicial Member)

house property\".\n\n27. The next issue for consideration is before us whether the Ld. CIT(A) has erred in facts and in law in allowing the claim of depreciation in respect of other assets leased out by the assessee. Before us, the Ld. D.R. submitted that firstly, the Ld. CIT(A) has not disputed the fact that the assets

NATIONAL DAIRY DEVELOPMENT BOARD,ANAND vs. THE DY.CIT, ANAND CIRCLE, ANAND

In the result, the appeals filed by the Revenue in ITA Nos

Bench: DR. BRR Kumar (Vice President), Shri T. R. Senthil Kumar (Judicial Member)

26. The next issue for consideration is that whether the assessee is eligible for depreciation on such building. We are of the considered view that once the income is held to be taxable as income from “house property” and not as “business income”, and further, admittedly the assessee has given the building on rent on long term basis, with

NATIONAL DAIRY DEVELOPMENT BOARD,ANAND vs. THE DY.CIT, ANAND CIRCLE, ANAND

In the result, the appeals filed by the Revenue in ITA Nos

Bench: DR. BRR Kumar (Vice President), Shri T. R. Senthil Kumar (Judicial Member)

26. The next issue for consideration is that whether the assessee is eligible for depreciation on such building. We are of the considered view that once the income is held to be taxable as income from “house property” and not as “business income”, and further, admittedly the assessee has given the building on rent on long term basis, with

ACIT, ANAND CIRCLE, ANAND, ANAND vs. NATIONAL DAIRY DEVELOPMENT BOARD, ANAND

In the result, the appeals filed by the Revenue in ITA Nos

Bench: DR. BRR Kumar (Vice President), Shri T. R. Senthil Kumar (Judicial Member)

26. The next issue for consideration is that whether the assessee is eligible for depreciation on such building. We are of the considered view that once the income is held to be taxable as income from “house property” and not as “business income”, and further, admittedly the assessee has given the building on rent on long term basis, with

NATIONAL DAIRY DEVELOPMENT BOARD,ANAND vs. THE DY.CIT, ANAND CIRCLE, ANAND

In the result, the appeals filed by the Revenue in ITA Nos

Bench: DR. BRR Kumar (Vice President), Shri T. R. Senthil Kumar (Judicial Member)

26. The next issue for consideration is that whether the assessee is eligible for depreciation on such building. We are of the considered view that once the income is held to be taxable as income from “house property” and not as “business income”, and further, admittedly the assessee has given the building on rent on long term basis, with

ACIT,ANAND CIRCLE, ANAND, ANAND vs. NATIONAL DAIRY DEVELOPMENT BOARD, ANAND

In the result, the appeals filed by the Revenue in ITA Nos

Bench: DR. BRR Kumar (Vice President), Shri T. R. Senthil Kumar (Judicial Member)

26. The next issue for consideration is that whether the assessee is eligible for depreciation on such building. We are of the considered view that once the income is held to be taxable as income from “house property” and not as “business income”, and further, admittedly the assessee has given the building on rent on long term basis, with

ACIT, ANAND CIRCLE, ANAND, ANAND vs. NATIONAL DAIRY DEVELOPMENT BOARD, ANAND

In the result, the appeals filed by the Revenue in ITA Nos

Bench: DR. BRR Kumar (Vice President), Shri T. R. Senthil Kumar (Judicial Member)

26. The next issue for consideration is that whether the assessee is eligible for depreciation on such building. We are of the considered view that once the income is held to be taxable as income from “house property” and not as “business income”, and further, admittedly the assessee has given the building on rent on long term basis, with

ACIT, ANAND CIRCLE, ANAND, ANAND vs. NATIONAL DAIRY DEVELOPMENT BOARD, ANAND

In the result, the appeals filed by the Revenue in ITA Nos

Bench: DR. BRR Kumar (Vice President), Shri T. R. Senthil Kumar (Judicial Member)

26. The next issue for consideration is that whether the assessee is eligible for depreciation on such building. We are of the considered view that once the income is held to be taxable as income from “house property” and not as “business income”, and further, admittedly the assessee has given the building on rent on long term basis, with