SHRI GIRISHBHAI VADILAL SHAH,,AHMEDABAD vs. THE DCIT, CIRCLE-4(1)(2),, AHMEDABAD

In the result, appeal preferred by the assessee in ITA No

Bench: Ms. Suchitra Raghunath Kamble, Judical Member & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. Nos. 330, 331 & 332/Ahd/2020 (िनधा"रण वष" िनधा"रण वष" िनधा"रण वष" / Assessment Years : 2014-15, 2015-16 & 2016-17) िनधा"रण वष" Girishbhai Vadilal Shah Dcit बनाम बनाम/ बनाम बनाम 139, V R Shah Smruti Circle – 4(1)(2), Vs. Shikshan Mandir, Nr. Ahmedabad Dharnidhar Derasar, Vasna, Ahmedabad, Gujarat, 380007 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Abjps3102P (Appellant) .. (Respondent) Shri Jaimin Shah, Ar अपीलाथ" ओर से /Appellant By : ""यथ" क" ओर से/Respondent By : Ms. Saumya Pandey Jain, Sr. Dr Date Of Hearing 26/06/2024 Date Of Pronouncement 15/07/2024 O R D E R Per Shri Narendra Prasad Sinha, Am: These Three Appeals Are Filed By The Assessee Against The Order Of The Commissioner Of Income Tax (Appeals)-8, Ahmedabad, (In Short The ‘Cit(A)’), (In Short ‘The Cit(A)’) All Dated 16.03.2020 For The Assessment Year 2014-15, 2015-16 & 2016-17. As The Issues Involved In The Three Appeals Are Common, They Were Heard Together & Are Being Disposed Vide This Common Order.

Section 58(2) r.w.s. 40A(2) of the Act is upheld and these grounds are dismissed. 21. Ground Nos. 3 & 4 pertain to disallowance of interest expenses of Rs.11,26,619/- out of ‘income from house property

SHRI GIRISHBHAI VADILAL SHAH,,AHMEDABAD vs. THE DCIT, CIRCLE-4(1)(2),, AHMEDABAD

In the result, appeal preferred by the assessee in ITA No

Bench: Ms. Suchitra Raghunath Kamble, Judical Member & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. Nos. 330, 331 & 332/Ahd/2020 (िनधा"रण वष" िनधा"रण वष" िनधा"रण वष" / Assessment Years : 2014-15, 2015-16 & 2016-17) िनधा"रण वष" Girishbhai Vadilal Shah Dcit बनाम बनाम/ बनाम बनाम 139, V R Shah Smruti Circle – 4(1)(2), Vs. Shikshan Mandir, Nr. Ahmedabad Dharnidhar Derasar, Vasna, Ahmedabad, Gujarat, 380007 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Abjps3102P (Appellant) .. (Respondent) Shri Jaimin Shah, Ar अपीलाथ" ओर से /Appellant By : ""यथ" क" ओर से/Respondent By : Ms. Saumya Pandey Jain, Sr. Dr Date Of Hearing 26/06/2024 Date Of Pronouncement 15/07/2024 O R D E R Per Shri Narendra Prasad Sinha, Am: These Three Appeals Are Filed By The Assessee Against The Order Of The Commissioner Of Income Tax (Appeals)-8, Ahmedabad, (In Short The ‘Cit(A)’), (In Short ‘The Cit(A)’) All Dated 16.03.2020 For The Assessment Year 2014-15, 2015-16 & 2016-17. As The Issues Involved In The Three Appeals Are Common, They Were Heard Together & Are Being Disposed Vide This Common Order.

Section 58(2) r.w.s. 40A(2) of the Act is upheld and these grounds are dismissed. 21. Ground Nos. 3 & 4 pertain to disallowance of interest expenses of Rs.11,26,619/- out of ‘income from house property

M/S. PUSHKAR CORPORATION,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-1(4), AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Ms. Suchitra Kamble & Shri Waseem Ahmedआयकर अपील सं./Ita Nos. 2213-2214/Ahd/2018 िनधा"रण वष"/Asstt. Years: 2011-2012 & 2012-2013 M/S. Pushkar Corporation, D.C.I.T., 27, Nakshatra Arcade, Vs. Central Circle-1(4), Ioc Road, Ahmedabad. Chandkheda, Ahmedabad. C/O. M.S. Chhajed & Co. “Kamal Shanti” Besides Bank Of Baroda, Nr. Sardar Patel Under Bridge, Naranpura, Ahmedabad-380014. Pan: Aalep1840Q & आयकर अपील सं./Ita Nos. 2345-2346/Ahd/2018 िनधा"रण वष"/Asstt. Years: 2011-2012 & 2012-2013 D.C.I.T., M/S. Pushkar Corporation, Central Circle-1(4), Vs. 27, Nakshatra Arcade, Ahmedabad. Ioc Road, Chandkheda, Ahmedabad. C/O. M.S. Chhajed & Co. “Kamal Shanti” Besides Bank Of Baroda, Nr. Sardar Patel Under Bridge, Naranpura, Ahmedabad-380014. Pan: Aalep1840Q

40A{3) or such unexplained expenditure would be liable to be added to the assessee's income u/s 69C. 5. On the facts and in the circumstances of the case and in law, the Ld. CIT{A) has erred in law and on facts in deleting addition of unexplained expenditure of Rs. 64,96,000/-. 6. On the facts

M/S. PUSHKAR CORPORATION,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-1(4), AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Ms. Suchitra Kamble & Shri Waseem Ahmedआयकर अपील सं./Ita Nos. 2213-2214/Ahd/2018 िनधा"रण वष"/Asstt. Years: 2011-2012 & 2012-2013 M/S. Pushkar Corporation, D.C.I.T., 27, Nakshatra Arcade, Vs. Central Circle-1(4), Ioc Road, Ahmedabad. Chandkheda, Ahmedabad. C/O. M.S. Chhajed & Co. “Kamal Shanti” Besides Bank Of Baroda, Nr. Sardar Patel Under Bridge, Naranpura, Ahmedabad-380014. Pan: Aalep1840Q & आयकर अपील सं./Ita Nos. 2345-2346/Ahd/2018 िनधा"रण वष"/Asstt. Years: 2011-2012 & 2012-2013 D.C.I.T., M/S. Pushkar Corporation, Central Circle-1(4), Vs. 27, Nakshatra Arcade, Ahmedabad. Ioc Road, Chandkheda, Ahmedabad. C/O. M.S. Chhajed & Co. “Kamal Shanti” Besides Bank Of Baroda, Nr. Sardar Patel Under Bridge, Naranpura, Ahmedabad-380014. Pan: Aalep1840Q

40A{3) or such unexplained expenditure would be liable to be added to the assessee's income u/s 69C. 5. On the facts and in the circumstances of the case and in law, the Ld. CIT{A) has erred in law and on facts in deleting addition of unexplained expenditure of Rs. 64,96,000/-. 6. On the facts

DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(1)(1),, AHMEDABAD vs. M/S. ADANI PORT & SPECIAL ECONOMIC ZONE LTD.,, AHMEDABAD

In the result, the appeal of the Assessing Officer for the assessment year 2010-11 is dismissed

40A(3), 43B, etc. of the Act and other specific disallowances, related to the business activity against which the Chapter VI-A deduction has been claimed, result in enhancement of the profits of the eligible business, and that deduction under Chapter VI-A is admissible on the profits so enhanced by the disallowance. 4. Accordingly, henceforth, appeals

DY.COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, AHMEDABAD vs. M/S. ADANI PORT & SPECIAL ECONOMIC ZONE LTD.,, AHMEDABAD

In the result, the appeal of the Assessing Officer for the assessment year 2010-11 is dismissed

40A(3), 43B, etc. of the Act and other specific disallowances, related to the business activity against which the Chapter VI-A deduction has been claimed, result in enhancement of the profits of the eligible business, and that deduction under Chapter VI-A is admissible on the profits so enhanced by the disallowance. 4. Accordingly, henceforth, appeals

THE ITO, WARD-3(2)(4), AHMEDABAD vs. M/S. RADHE KRISHNA DEVELOPERS, AHMEDABAD

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

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

40A(3) of the Act. 6. Let us deal with each Ground raised by the Revenue. Ground No.1 is deletion of addition of Rs.1,11,69,600/- being under statement of value of investment in immovable property u/s. 69B of the Act. Brief facts of the case are that during the course of Survey operations in the business premises

SUN PHARMACEUTICALS INDUSTRIES LTD.,,BARODA vs. THE ACIT, CENTRAL CIRCLE-1, BARODA

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

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy1. आयकर अपील सं./Ita No.1659/Ahd/2015 2. आयकर अपील सं./Ita No.1689/Ahd/2015 ("नधा"रण वष"/Assessment Year : 2008-09 ) बनाम/ 1. Sun Pharmaceuticals 1. The Acit Industries Ltd. Cen.Cir-1 Vs. “Sparc” Tandalja Baroda – 20 2. The Acit 2. Sun Pharmaceu- Central Circle-1 Ticals Industries Baroda Ltd. Baroda. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadcs 3124K (अपीलाथ"/Appellant) (""यथ" / Respondent) .. अपीलाथ" ओर से/ Appellant By : Shri S.N. Soparkar, Ar ""यथ" क" ओर से/Respondent By: Shri R.C. Panday, Cit-Dr सुनवाई क" तार"ख/ Date Of Hearing 28/03/2019 घोषणा क" तार"ख /Date Of Pronouncement 20/06/2019 आदेश / O R D E R Per Waseem Ahmed: The Captioned Cross-Appeals Have Been Filed At The Instance Of The Assessee & Revenue Against The Order Of The Commissioner Of Income Tax (Appeals)–2, Vadodara [Cit(A) In Short] Vide Appeal No.Cab/(A)- 2/387/2014-15 Dated 31/03/2015 Arising In The Assessment Order Passed Under S.143(3) R.W.S.147 Of The Income Tax Act, 1961(Hereinafter Referred To As "The Act") Dated 14/02/2014 Relevant To Assessment Year (Ay) 2008-09. Ita Nos.1659/Ahd/2015 (By Assessee) & Ita No.1689/Ahd/2015 (By Revenue) Sun Pharmaceuticals Industries Ltd. Vs. Acit Asst.Year - 2008-09 2

property rights shall belong to UTL and the Appellant shall be having no rights whatsoever on the dossiers developed in its premises. 2.5 It is also the argument of the Id. DR that the consideration payable by UTL to the Appellant was vague and not specifically stated in the said agreement. The Id. DR also highlighted the clause

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-4(1)(1),, AHMEDABAD vs. SHANTI EXPORTS PVT. LTD.,, AHMEDABAD

In the result, appeal is partly allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No.884/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2016-2017 D.C.I.T., Shanti Exports Pvt. Ltd., Circle-4,(1)(1), Vs. 2Nd Floor, Ahmedabad. Chiripal House, Satellite Road, Ahmedabad.

3,29,942.00 respectively aggregating to Rs. 5,32,914.00 and accordingly, the addition was made to the total income of the assessee. 4.5 The AO also rejected the contention of the assessee that the 5th floor was used by it ( the assessee) for its own business purposes in the absence of necessary evidence. Thus, the AO determined the fair

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

House Property ought to have directed to grant standard deduction u/s 24 of the Act. ITA Nos.2004/Ahd/2014, 1873/Ahd/2014, 2994/Ahd/2016 & 2954/Ahd/2016 & C.O. No. 14/Ahd/2017 National Dairy Development Board vs. ACIT/DCIT Asst.Years– 2010-11 to 2011-12 6. The Hon'ble CIT(A) erred in not adjudicating on the ground of appeal that the interest earned on North Kerala Project Development Fund

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

House Property ought to have directed to grant standard deduction u/s 24 of the Act. ITA Nos.2004/Ahd/2014, 1873/Ahd/2014, 2994/Ahd/2016 & 2954/Ahd/2016 & C.O. No. 14/Ahd/2017 National Dairy Development Board vs. ACIT/DCIT Asst.Years– 2010-11 to 2011-12 6. The Hon'ble CIT(A) erred in not adjudicating on the ground of appeal that the interest earned on North Kerala Project Development Fund

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

House Property ought to have directed to grant standard deduction u/s 24 of the Act. ITA Nos.2004/Ahd/2014, 1873/Ahd/2014, 2994/Ahd/2016 & 2954/Ahd/2016 & C.O. No. 14/Ahd/2017 National Dairy Development Board vs. ACIT/DCIT Asst.Years– 2010-11 to 2011-12 6. The Hon'ble CIT(A) erred in not adjudicating on the ground of appeal that the interest earned on North Kerala Project Development Fund

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

House Property ought to have directed to grant standard deduction u/s 24 of the Act. ITA Nos.2004/Ahd/2014, 1873/Ahd/2014, 2994/Ahd/2016 & 2954/Ahd/2016 & C.O. No. 14/Ahd/2017 National Dairy Development Board vs. ACIT/DCIT Asst.Years– 2010-11 to 2011-12 6. The Hon'ble CIT(A) erred in not adjudicating on the ground of appeal that the interest earned on North Kerala Project Development Fund

SHALIGRAM INFRA PROJECTS LLP ( LTD. LIABILITY PARTNERSHIP),AHMEDABAD vs. THE JCIT (OSD), CENTRAL CIRCLE-2(2), AHMEDABAD

Appeals are partly allowed

Bench: S/Shri T.R. Senthil Kumar & Makarand V.Mahadeokarit(Ss)A No.167/Ahd/2021 Asstt.Year : 2017-18 & Asst.Year : 2018-19 Shaligram Infra Projects Llp Vs. The Jcit (Osd) 4Th Floor, Office No.401-402 Central Cir.2(2) B/H. Dishman House Ahmedabad. Opp: Sankalp Grace Ii, Ambli Ahmedabad. Pan: Acpfs 7047 A It(Ss)A No.194,195 & 196/Ahd/2021 Asstt.Year : 2015-16, 2016-17 & 2017-18 & Asst.Year : 2018-19 The Jcit (Osd) Vs. Shaligram Infra Projects Llp Central Cir.2(2) 4Th Floor, Office No.401-402 Ahmedabad. B/H. Dishman House Opp: Sankalp Grace Ii, Ambli Ahmedabad.

section 139(1) declaring total income at Rs. Nil/- Thereafter, the assessment order was passed on 28-11-2017 determining total income at Rs.Nil. The DCIT, Cent.Cir.Vs.Shaligram Infra Projects LLP (6 Appeals) 3 3.2 During the course of assessment proceeding, it was noticed that the assessee had undertaken the project “Shaligram Plush" for which the assessee has purchased 32 plots

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

THE ACIT, MEHSANA CIRCLE, MEHSANA vs. SHRI UMESH VADILAL KHAMAR, MEHSANA

In the result, the appeal of the Revenue is dismissed

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

house property. Vide appellate order dated 17.12.2018, the addition of Rs.51,60,000/- was confirmed whereas the addition of Rs.26,60,000/- was deleted for the reason that it was the outgoing investment from the incoming undisclosed income of Rs.51,60,000/-. In the case of Shri Rajnikant V. Khamar, who was acting as commission agent and not involved

GANESH HOUSING CORPORATION LTD.,,AHMEDABAD vs. THE DY.CIT., CIRCLE-4, NOW, CIRCLE-2(1)(1),, AHMEDABAD

In the result appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Amarjit Singh"नधा"रण वष"/ Asstt. Year: 2009-2010 Ganesh Housing Corporation Ltd. Dcit, Cir.2(1)(1) “Ganesh Corporate House” Navjivan Trust Bldg. Vs. Ahmedabad. 100 Ft. Hebatpur-Thaltej Road Nr. Sola Bridge Off. S.G. Highway Ahmedabad 380 015. Pan : Aaacg 5590 Q With Co No.216/Ahd/2015 "नधा"रण वष"/ Asstt. Year: 2009-2010 Dcit, Cir.2(1)(1) Ganesh Housing Corporation Ltd. Navjivan Trust Bldg. “Ganesh Corporate House” Vs. Ahmedabad. 100 Ft. Hebatpur-Thaltej Road Nr. Sola Bridge Off. S.G. Highway Ahmedabad 380 015. (Applicant) (Responent) : Shri Dhiren Shah, Ar Assessee By Revenue By : Shri C. Danday, Cit-Dr सुनवाई क" तार"ख/Date Of Hearing : 19/09/2018 घोषणा क" तार"ख /Date Of Pronouncement: 23/10/2018 आदेश/O R D E R

House” Vs. Ahmedabad. 100 Ft. Hebatpur-Thaltej Road Nr. Sola Bridge Off. S.G. Highway Ahmedabad 380 015. (Applicant) (Responent) : Shri Dhiren Shah, AR Assessee by Revenue by : Shri C. Danday, CIT-DR सुनवाई क" तार"ख/Date of Hearing : 19/09/2018 घोषणा क" तार"ख /Date of Pronouncement: 23/10/2018 आदेश/O R D E R PER RAJPAL YADAV, JUDICIAL MEMBER: Assessee

THE DCIT, CIRCLE-2(1)(1),, AHMEDABAD vs. GANESH HOUSING CORPORATION LIMITED,, AHMEDABAD

In the result appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Amarjit Singh"नधा"रण वष"/ Asstt. Year: 2009-2010 Ganesh Housing Corporation Ltd. Dcit, Cir.2(1)(1) “Ganesh Corporate House” Navjivan Trust Bldg. Vs. Ahmedabad. 100 Ft. Hebatpur-Thaltej Road Nr. Sola Bridge Off. S.G. Highway Ahmedabad 380 015. Pan : Aaacg 5590 Q With Co No.216/Ahd/2015 "नधा"रण वष"/ Asstt. Year: 2009-2010 Dcit, Cir.2(1)(1) Ganesh Housing Corporation Ltd. Navjivan Trust Bldg. “Ganesh Corporate House” Vs. Ahmedabad. 100 Ft. Hebatpur-Thaltej Road Nr. Sola Bridge Off. S.G. Highway Ahmedabad 380 015. (Applicant) (Responent) : Shri Dhiren Shah, Ar Assessee By Revenue By : Shri C. Danday, Cit-Dr सुनवाई क" तार"ख/Date Of Hearing : 19/09/2018 घोषणा क" तार"ख /Date Of Pronouncement: 23/10/2018 आदेश/O R D E R

House” Vs. Ahmedabad. 100 Ft. Hebatpur-Thaltej Road Nr. Sola Bridge Off. S.G. Highway Ahmedabad 380 015. (Applicant) (Responent) : Shri Dhiren Shah, AR Assessee by Revenue by : Shri C. Danday, CIT-DR सुनवाई क" तार"ख/Date of Hearing : 19/09/2018 घोषणा क" तार"ख /Date of Pronouncement: 23/10/2018 आदेश/O R D E R PER RAJPAL YADAV, JUDICIAL MEMBER: Assessee