EFFECTIVE TELESERVICES PVT. LTD.,GANDHINAGAR vs. THE PR. CIT-3, AHMEDABAD

In the result, the order passed under Section 263 of the Act is directed to be set-aside

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

Section 143(3) of the Act on 01.03.2023 by accepting the income at Rs. 13,96,44,410/- filed by the assessee. 4. Subsequently, on examination of records, the PCIT observed that the assessee has treated rental income of Rs. 12,49,14,400/- as “income from house property” for the purpose of income tax and claimed standard deduction @ 30

SHRI ATULBHAI BABUBHAI SHAH,AHMEDABAD vs. THE ACIT.,RANGE-10,, AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed, Accountantmember & Ms. Madhumita Roy

section 24(a) and 24(b) of the Act. The AO further observed that the assessee is not entitled for the deduction of interest expenses against the rental income chargeable to tax under the head income from other sources for the reason that the interest expenses was not incurred for the running of such rental income. Accordingly the AO denied

SHRI ATUL BABUBHAI SHAH,AHMEDABAD vs. THE JT.CIT.,RANGE-10,, AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed, Accountantmember & Ms. Madhumita Roy

section 24(a) and 24(b) of the Act. The AO further observed that the assessee is not entitled for the deduction of interest expenses against the rental income chargeable to tax under the head income from other sources for the reason that the interest expenses was not incurred for the running of such rental income. Accordingly the AO denied

SHRI ATULBHAI BABULAL SHAH,,AHMEDABAD vs. THE ACIT, CIRCLE-11,, AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed, Accountantmember & Ms. Madhumita Roy

section 24(a) and 24(b) of the Act. The AO further observed that the assessee is not entitled for the deduction of interest expenses against the rental income chargeable to tax under the head income from other sources for the reason that the interest expenses was not incurred for the running of such rental income. Accordingly the AO denied

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)

30. The brief facts in relation to this ground of appeal are that during the course of assessment, the assessing officer observed that the assessee was in possession of two properties during the impugned year under consideration and both the house properties were utilised by the assessee for his personal use. The assessee has not declared any income under

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)

30. The brief facts in relation to this ground of appeal are that during the course of assessment, the assessing officer observed that the assessee was in possession of two properties during the impugned year under consideration and both the house properties were utilised by the assessee for his personal use. The assessee has not declared any income under

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)

30. The brief facts in relation to this ground of appeal are that during the course of assessment, the assessing officer observed that the assessee was in possession of two properties during the impugned year under consideration and both the house properties were utilised by the assessee for his personal use. The assessee has not declared any income under

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)

30. The brief facts in relation to this ground of appeal are that during the course of assessment, the assessing officer observed that the assessee was in possession of two properties during the impugned year under consideration and both the house properties were utilised by the assessee for his personal use. The assessee has not declared any income under

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

SHRI NARENDRA R. VYAS,BARODA vs. DCIT, CIRCLE-4(2), VADODARA

In the result, the appeal of the assessee is allowed

Section 23(1)(a) defines the ‘annual value’ of a house property as ‘the sum for which the property might reasonably be expected to let from year to year’. In our view, the Ld. AO has not disputed the receipt of monthly rent of Rs. 30

SAROVAR DEVELOPERS PVT. LTD.,AHMEDABAD vs. ITO, WARD-4(1)(1),, AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No.2625/Ahd/2017 "नधा"रण वष"/Asstt. Year: 2014-2015 Sarovar Developers Pvt. Ltd., Income Tax Officer, 13A,Pushpkunj Society, Vs. Ward-4(1)(1), Kankaria,Maninagar, Ahmedabad. Ahmedabad.

section 24 on account of repair and maintenance at the rate of 30% of the ALV. Thus the AO determined the income under the head house property

BIMANAGAR CO.OP.HSG.SO.LTD.,,AHMEDABAD vs. THE INCOME TAX OFFICER,WARD-7(2),, AHMEDABAD

In the result, the appeal is allowed in the terms indicated above

Bench: Pramod Kumar] Assessment Year: 2008-09 Bimanagar Co. Op. Housing Society Ltd. .......…………...........Appellant Opp. Shivranjani Cross Roads, Satellite, Ahmedabad - 380015 [Pan : Aaaab 4535 A] Vs. Income-Tax Officer, Ward 7(2), Ahmedabad. ............................Respondent Appearances By: Dk Parikh For The Appellant Dinesh Singh For The Respondent Date Of Concluding The Hearing : 28.06.2017 Date Of Pronouncing The Order : 22.09.2017 O R D E R This Appeal, Filed By The Assessee, Is Directed Against The Order Dated 5Th 1. December 2011, Passed By The Learned Cit(A), In The Matter Of Assessment Under Section 143(3) Of The Income Tax Act, 1961, For The Assessment Year 2008-09. 2. Grievances Raised By The Appellant Are As Follows :

House Property' and not in the nature of 'Income from Other Sources'. Assessment/Year : 2008-09 Page 2 of 5 3. Without prejudice to the above, the Id CIT(A) also erred both in law and on facts in not appreciating that the claim of deduction of Rs.480000/- being 30% of the Rent Income shall be allowed as provided in Section

SHRI RAJAT B. MEHTA,VADODARA vs. THE INCOME TAX OFFICER (INTL. TAXN.), VADODARA

In the result, the appeal is allowed in the terms indicated above

section 54 F to the extent of Rs 18,00,000 paid under a separate agreement for furniture and fixtures in the residential property purchased by the assessee. Aggrieved, assessee carried the matter in appeal before the CIT(A) but without any success. The assessee is not satisfied and is in further appeal before us. 4. We have heard

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

30,15,007/- under section 14A following the appellate order for Asst. Year 2008-09. In the facts and circumstances of the case it is submitted that no disallowance under section 14A is required to be made. It is submitted that it be so held now. 4.1. The Hon'ble CIT(A) has erred in not appreciating the fact that

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

30,15,007/- under section 14A following the appellate order for Asst. Year 2008-09. In the facts and circumstances of the case it is submitted that no disallowance under section 14A is required to be made. It is submitted that it be so held now. 4.1. The Hon'ble CIT(A) has erred in not appreciating the fact that

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

30,15,007/- under section 14A following the appellate order for Asst. Year 2008-09. In the facts and circumstances of the case it is submitted that no disallowance under section 14A is required to be made. It is submitted that it be so held now. 4.1. The Hon'ble CIT(A) has erred in not appreciating the fact that

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

30,15,007/- under section 14A following the appellate order for Asst. Year 2008-09. In the facts and circumstances of the case it is submitted that no disallowance under section 14A is required to be made. It is submitted that it be so held now. 4.1. The Hon'ble CIT(A) has erred in not appreciating the fact that

SHRI VIJAYBHAI HATHISING SHAH,AHMEDABAD vs. THE PR. CIT-1 , AHMEDABAD

In the result, appeal filed by the Assessee is dismissed

30,000/- wherein assessee’s share of interest is 50%. Out of the total capital gains on account of sale of aforesaid two lands, the assessee claimed deduction of Rs. 3,96,79,796/- u/s. 54F of the Act on purchase of new residential house. However on perusal of statement of fixed assets being part of balance sheet