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.

9% only. The assessee has not established any commercial expediency for taking loans at higher rate from the related parties and advancing the same at lower rates. We are, therefore, of the considered opinion that Ld. CIT(A) has not erred in facts and in law in restricting the disallowance of 1/4th of such interest paid

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.

9% only. The assessee has not established any commercial expediency for taking loans at higher rate from the related parties and advancing the same at lower rates. We are, therefore, of the considered opinion that Ld. CIT(A) has not erred in facts and in law in restricting the disallowance of 1/4th of such interest paid

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

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

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

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

M/S. FAG BEARINGS INDIA LTD.,,BARODA vs. THE CIT-I,, BARODA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

House Pvt. Limited. Vs CIT 157 ITR 86 (SC) and further failed to take note of the fact that, in allowing the expenditure in earlier years, undue reliance was placed on the formal recitals in the agreements with the associate concerns presenting the lump sum payment for acquisition of technical knowhow as periodical payment

M/S. FAG BEARINGS INDIA LTD.,,BARODA vs. THE ACIT.,CIRCLE-1(2),(TPO), BARODA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

House Pvt. Limited. Vs CIT 157 ITR 86 (SC) and further failed to take note of the fact that, in allowing the expenditure in earlier years, undue reliance was placed on the formal recitals in the agreements with the associate concerns presenting the lump sum payment for acquisition of technical knowhow as periodical payment

M/S. FAG BEARINGS INDIA LTD.,BARODA vs. THE ACIT, CIRCLE-1(2),, BARODA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

House Pvt. Limited. Vs CIT 157 ITR 86 (SC) and further failed to take note of the fact that, in allowing the expenditure in earlier years, undue reliance was placed on the formal recitals in the agreements with the associate concerns presenting the lump sum payment for acquisition of technical knowhow as periodical payment

M/S. FAG BEARINGS INDIA LTD.,,BARODA vs. THE DY.CIT.,CIRCLE-1(2),, BARODA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

House Pvt. Limited. Vs CIT 157 ITR 86 (SC) and further failed to take note of the fact that, in allowing the expenditure in earlier years, undue reliance was placed on the formal recitals in the agreements with the associate concerns presenting the lump sum payment for acquisition of technical knowhow as periodical payment

THE ACIT, CIRCLE-1(2),, BARODA vs. M/S. FAG BEARINGS INDIA LTD.,, VADODARA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

House Pvt. Limited. Vs CIT 157 ITR 86 (SC) and further failed to take note of the fact that, in allowing the expenditure in earlier years, undue reliance was placed on the formal recitals in the agreements with the associate concerns presenting the lump sum payment for acquisition of technical knowhow as periodical payment

THE ACIT, CIRCLE-5, AHMEDABAD vs. M/S. NABROS PHARMA LTD., AHMEDABAD

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

House Pvt. Limited. Vs CIT 157 ITR 86 (SC) and further failed to take note of the fact that, in allowing the expenditure in earlier years, undue reliance was placed on the formal recitals in the agreements with the associate concerns presenting the lump sum payment for acquisition of technical knowhow as periodical payment

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

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.

house property. iii) Fair rent of f/ie property:- Fair rent is the rent which a similar property can fetch in the same or similar locality if it is let out for a year. The DVO can also find out such value. iv) Standard Rent:- The standard rent is fixed under the Rent Control Act. If the standard rent has been

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

9 end of relevant assessment year. Hence, benefit of proviso appended to section 147 is not available to the assessee in the present case. Since there was no opinion formed by the AO on this issue in earlier original assessment order, therefore, there cannot be any allegation of change of opinion. 12. We have duly considered rival contentions and gone

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

9 end of relevant assessment year. Hence, benefit of proviso appended to section 147 is not available to the assessee in the present case. Since there was no opinion formed by the AO on this issue in earlier original assessment order, therefore, there cannot be any allegation of change of opinion. 12. We have duly considered rival contentions and gone

AMBALAL SARABHAI ENTERPRISES LTD.,,BARODA vs. THE DY. COMMISSIONER OF INCOME TAX-1(1)(1),, BARODA

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

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad)

house property at Rs.9,036/-, income ITA Nos. 933 & 1313/Ahd/2016 3 . A.Y. 1999-2000 from other sources at Rs.12,35,176/- and business loss of Rs.30,43,96,755/-. In the order passed u/s.143(3), several additions/disallowances were made and the income was assessed at a loss of Rs,27,07,64,210/-. 4. So far first ground is concerned

THE DCIT, BARODA CIRCLE-1,, BARODA vs. AMBALAL SARABHAI ENTERPRISES LIMITED,, BARODA

In the result, appeal of the assesse and the Revenue are partly allowed for statistical purpose

Bench: Ms. Suchitra Kamble & Shri Waseem Ahmed

house property Rs.9,036/-, income from other sources Rs.1,25,40,914/- and business loss of Rs.10,26,63,568/-. The Assessing Officer made addition in respect of buying commission to Teknoserve (Jersey) Limited amounting to Rs.19,27,498/- as per the provision of Section 40(a)(i) of the Act. The Assessing Officer also disallowed interest on bonds issued

AMBALAL SARABHAI ENTERPRISES LIMITED,,BARODA vs. THE DY.CIT.,CIRCLE-1,, BARODA

In the result, appeal of the assesse and the Revenue are partly allowed for statistical purpose

Bench: Ms. Suchitra Kamble & Shri Waseem Ahmed

house property Rs.9,036/-, income from other sources Rs.1,25,40,914/- and business loss of Rs.10,26,63,568/-. The Assessing Officer made addition in respect of buying commission to Teknoserve (Jersey) Limited amounting to Rs.19,27,498/- as per the provision of Section 40(a)(i) of the Act. The Assessing Officer also disallowed interest on bonds issued