THE DCIT, CENTRAL CIRCLE-1, BARODA vs. SHRI DHAVAL D. PATEL,, BARODA

In the result, the file is being restored to the Ld

house property. While passing the order, the ITAT held as below: ■ As per provisions of section 23(1), for the purpose of section 22, annual value of any property shall be deemed to be sum for which property might reasonably be expected to let from year-to-year and where property or any part of 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

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

In the result, appeal filed by the Assessee is dismissed

property consisted of a house alongwith land and not merely an open plot of land as claimed by assessee now. Therefore, as on the date of sale of aforesaid lands, assessee was the owner of two residential houses one being Ambali Gam, Tal House and other being Residential Bungalow with book values

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

property” (hereafter in this section referred to as the original asset), and the assessee has within a period of one year before or two years after the date on which the transfer took place purchased, or has within a period of three years after that date constructed, a residential house, then, instead of the capital gain being charged to income

SHRI BHUPESH NAVINCHANDRA RAVAL,AHMEDABAD vs. ITO, WARD-5(3)(3), AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Shri Rajpal Yadavआयकर अपील सं./I.T.A. No.2287/Ahd/2017 ("नधा"रण वष" / Assessment Year : 2013-14)

house so purchased or constructed (hereafter in this section referred to as the new asset), the difference between the amount of the capital gain and the cost of the new asset shall be charged under section 45 as the income of the previous year; and for the purpose of computing in respect of the new asset any capital gain arising

SHRI VIKAS NARAYAN BADDI,AHMEDABAD vs. THE ACIT,CENTRAL CIRCLE-1(3),, AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Smt.Annapurna Gupta & Smt.Suchitra Kambleassessment Year :2012-13

house property", other than the new asset, the amount of capital gain arising from the transfer of the original asset not charged under section 45

SHRI KARAN RAJENDRAKUMAR ARYA,AHMEDABAD vs. THE PR. CIT-1, AHMEDABAD

In the result the appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No. 31/Ahd/2021 िनधा"रण वष"/Asstt. Year: 2015-2016 Shri Karan Rajendrakumar Arya, The Principal Commissioner Of 802, Saffron, Panchvati, Vs. Income Tax-1, Ambawadi, Ahmedabad. Ahmedabad.

house property" (hereafter in this section referred to as the original asset), and the assessee has within a period of 45

SHRI JIGNESH JAYSUKHLAL GHIYA,VADODARA vs. THE DCIT CIRLCE-4(2), VADODARA

In the result, the appeal filed by the Assessee is allowed

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

45 as the income of the previous year, and for the purpose of computing in respect of the new asset any capital gain arising from its transfer within a period of three years of its purchase or construction, as the case may be, the cost shall be nil;" Also, section 54 provides a recourse to the assessee for not purchasing

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”. 27. 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 have

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”. 27. 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 have

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”. 27. 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 have

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”. 27. 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 have

SHRI ASHWINKUMAR GOVINDLAL PANCHAL,,AHMEDABAD vs. THE DY. CIT, CIRCLE-2,, AHMEDABAD

In the result, this ground of appeal is allowed for statistical purposes

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

property" (hereafter in this section referred to as the original asset), and the assessee has within a period of one year before or two years after the date on which the transfer took place purchased, or has within a period of three years after that date constructed, one residential house in India, then, instead of the capital gain being charged

M/S. OCEANIC BUILDCON PVT.LTD.,,BARODA vs. THE ACIT, CIRCLE-4,, BARODA

In the result, all the four appeals filed by the Assessee are allowed

Bench: Shri Pramod Kumar & Shri Mahavir Prasad)

house property which is upheld by the ld, CIT(A). 9. In the proceedings before the Tribunal that assessee submitted that the main object of the Company since incorporation is to carry on the business of leasing of premises. In pursuing this objective, the assessee purchased the land and started constructing the Mall premises. The premises in the Mall

SHRI PURSHOTTAM B. PITRODA,,AHMEDABAD vs. THE ACIT, RANGE -12,, AHMEDABAD

In the result, appeal filed by the assessee is partly allowed

Bench: Shri N.K. Billaiya & Shri Mahavir Prasad

house at Shilaj for labour. One residential property is used by proprietor. Other property are used by his daughter and son. So there is no addition as notional income. The value of the all the said properties is Rs.48,57,897/- as per balance sheet. The contention of the assessee is seen and it was observed that the property income

SMT. BHAVNA HITESH RAWAL,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-5(1)(1),, AHMEDABAD

In the result, the appeal of the assessee is dismissed

45;" [Provided that nothing contained in this sub-section shall apply where-(a) The assessee, - (i) Owns more than one residential house, other than the new asset, on the date of transfer of the original asset; or (ii) Purchases any residential house, other than the new asset, within a period of one year after the date of transfer

PHELIX APPLIANCES LIMITED,BARODA vs. THE INCOME TAX OFFICER, WARD-4(2),, BARODA

In the result, assessee’s appeal is allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No. 1310/Ahd/2016 ("नधा"रण वष"/Assessment Year : 2009-10 ) Phelix Appliances Ltd. The Income Tax बनाम/ 9, B, Shitalkunj Society Officer Vs. Manjalpur Ward-4(2) Baroda - 390 010 Baroda – 390 007 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabcp 1857 C .. (अपीलाथ"/Appellant) (""यथ" / Respondent) अपीलाथ" ओर से/ Appellant By : Shri Manish J. Shah, Ar ""यथ" क" ओर से/Respondent By: Shri Jaya Chaudhary, Sr.Dr

45,000/- which was duly accepted by the Revenue. 25. The assessee has claimed expenses under the head house property for which it was entitled under the provisions of section

CORRTECH INTERNATIONAL PVT.LTD.,,AHMEDABAD vs. THE DY.CIT.,(OSD)RANGE-1,, AHMEDABAD

In the result, appeal of the Revenue is partly allowed and appeal of the assessee is partly allowed for statistical purposes

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

house property”, the same cannot be changed into “income from business and profession” in subsequent year. The CIT(A) has rightly deleted the same addition and there is no need to interfere with the findings of the CIT(A). Hence, ground no.6 of Revenue’s appeal is dismissed. 24. As regards ground no.7 of Revenue’s appeal, wherein