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

In the result, the appeal of the assessee is allowed

49,37,668/), loss from house property (Rs. (-)7,69,954/-) and income from other sources (Rs. 17,869/-). During the course of assessment proceedings, the Ld. AO enquired into the loss of Rs. (-)7,69,954/- claimed under the head house property and asked the assessee to produce copies of evidences and materials in respect of the same

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 2 1 1, AHMEDABAD, AHMEDABAD vs. BHARAT LAKHAJI NANDWANA, AHMEDABAD

In the result, the appeal filed by the Department is allowed for statistical purposes

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

house and had claimed exemption under section 54 as well as section 54EC of the Income-tax Act, 1961 ("the Act"). 4. The Assessing Officer asked the assessee to substantiate the claim of exemption under section 54 and section 54EC of the Act. In response, the assessee submitted that the property sold during the year originally belonged to L.K. Nandwana

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.

49,00,000/- for new house property, document for which has been provided to you by our letter dated 31/07/2017. We have attached herewith the statement of payment made for the new house property and bank statement showing the said payments. Therefore the assessee is eligible for claiming deduction under section

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' instead of 'Profits and Gains from Business and Profession' and thereby denying deduction of depreciation and other expenditure on buildings. It is submitted that it be so held now. 4.1 The Hon'ble CIT (A) erred in not appreciating the fact that the buildings were given on lease under composite agreement in the ordinary course as a part

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' instead of 'Profits and Gains from Business and Profession' and thereby denying deduction of depreciation and other expenditure on buildings. It is submitted that it be so held now. 4.1 The Hon'ble CIT (A) erred in not appreciating the fact that the buildings were given on lease under composite agreement in the ordinary course as a part

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' instead of 'Profits and Gains from Business and Profession' and thereby denying deduction of depreciation and other expenditure on buildings. It is submitted that it be so held now. 4.1 The Hon'ble CIT (A) erred in not appreciating the fact that the buildings were given on lease under composite agreement in the ordinary course as a part

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' instead of 'Profits and Gains from Business and Profession' and thereby denying deduction of depreciation and other expenditure on buildings. It is submitted that it be so held now. 4.1 The Hon'ble CIT (A) erred in not appreciating the fact that the buildings were given on lease under composite agreement in the ordinary course as a part

GULMOHAR PARK MALL PVT. LTD.,,AHMEDABAD vs. THE DY.CIT, CIRCLE-4,, AHMEDABAD

In the result, both appeals are allowed as indicated above

section 194 I of the Act which deals with TDS on Rent from letting out property. This TDS made by various parties also confirms the fact that the assessee derived the Rent income which is liable to be treated under the head of House Property only and can be bring to tax under the head of Business Income

GULMOHAR PARK MALL PVT. LTD.,,AHMEDABAD vs. THE DY.CIT, CIRCLE-4,, AHMEDABAD

In the result, both appeals are allowed as indicated above

section 194 I of the Act which deals with TDS on Rent from letting out property. This TDS made by various parties also confirms the fact that the assessee derived the Rent income which is liable to be treated under the head of House Property only and can be bring to tax under the head of Business Income

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)

49,623/- which is assessed at a loss of Rs. 1,11,50,526/-. The A.O. accepted the conduct of the business of lease of premises as claimed by the assessee. In first appeal, the ld. CIT(A), after issuing notice for enhancement and affording the opportunity, held that the income of the assessee is from house property

GULMOHAR PARK MALL PVT. LTD,,AHMEDABAD vs. DCIT, CIRCLE-2(1)(1),, AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Amarjit Singhआयकर अपील सं./ Ita No.135/Ahd/2018 "नधा"रण वष"/Asstt. Year: 2013-14

49,999/- is taxable under the head Income from House Property as against under the head Income from Business and Profession offered in the return of income of the appellant. 2. On the facts and in the circumstances of the case the learned CIT(A) erred in rejecting the relevant ground No.3 raised by the appellant before

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

THE ACIT, CIRCLE-2(1)(1), AHMEDABAD vs. M/S. INTAS PHARMACEUTICALS LTD., AHMEDABAD

Accordingly, this ground raised by the Revenue is dismissed

Bench: S/Shri T.R. Senthil Kumar & Makarand V.Mahadeokarasstt.Year : 2015-16 Acit, Cir.2(1)(1) M/S.Intas Pharmaceuticals Ltd Vejalpur Vs Corporate House Ahmedabad. S.G. Highway Nr.Sola Bridge, Thaltej Ahmedabad 380 054. Pan : Aaaci 5120 L Asstt.Year : 2015-16 M/S.Intas Pharmaceuticals Ltd Acit, Cir.2(1)(1) Corporate House Vs Vejalpur S.G. Highway Ahmedabad. Nr.Sola Bridge, Thaltej Ahmedabad 380 054. Pan : Aaaci 5120 L (Applicant) (Responent) : Assessee By Shri S.N. Soparkar, Sr.Advocae & Shri Parin Shah, Ar : Shri Ragnesh Das, Cit-Dr Revenue By सुनवाई क" तारीख/Date Of Hearing : 28/04/2025 घोषणा क" तारीख /Date Of Pronouncement: 21/05/2025 आदेश आदेश/O R D E R आदेश आदेश

house R and D Centre. This clam was made on the basis of recognition issued by the DSIR to erstwhile Celestial Biologicals Ltd. for the period of three years from 1.4.2013. The Co-ordinate Bench, in its order for A.Y. 2013–14, has already accepted such claims as allowable u/s 35(2AB), following the decision of the Hyderabad Bench

INTAS PHARMACEUTICALS LTD.,AHMEDABAD vs. THE DCIT, CIRCLE-2(1)(1), AHMEDABAD

Accordingly, this ground raised by the Revenue is dismissed

Bench: S/Shri T.R. Senthil Kumar & Makarand V.Mahadeokarasstt.Year : 2015-16 Acit, Cir.2(1)(1) M/S.Intas Pharmaceuticals Ltd Vejalpur Vs Corporate House Ahmedabad. S.G. Highway Nr.Sola Bridge, Thaltej Ahmedabad 380 054. Pan : Aaaci 5120 L Asstt.Year : 2015-16 M/S.Intas Pharmaceuticals Ltd Acit, Cir.2(1)(1) Corporate House Vs Vejalpur S.G. Highway Ahmedabad. Nr.Sola Bridge, Thaltej Ahmedabad 380 054. Pan : Aaaci 5120 L (Applicant) (Responent) : Assessee By Shri S.N. Soparkar, Sr.Advocae & Shri Parin Shah, Ar : Shri Ragnesh Das, Cit-Dr Revenue By सुनवाई क" तारीख/Date Of Hearing : 28/04/2025 घोषणा क" तारीख /Date Of Pronouncement: 21/05/2025 आदेश आदेश/O R D E R आदेश आदेश

house R and D Centre. This clam was made on the basis of recognition issued by the DSIR to erstwhile Celestial Biologicals Ltd. for the period of three years from 1.4.2013. The Co-ordinate Bench, in its order for A.Y. 2013–14, has already accepted such claims as allowable u/s 35(2AB), following the decision of the Hyderabad Bench

VINODCHANDRA T PARIKH,AHMEDABAD vs. ITO, WARD-2(1)(2),, AHMEDABAD

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

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No. 457/Ahd/2018 िनधा"रण वष"/Asstt. Year: 2013-2014 Vinodchandra T. Parikh, I.T.O, 31, Shail, Vs. Ward-2(1)(2), Opp. Madhusudan House, Ahmedabad. Navrangpura, Ahmedabad.

49,0507- on 0571072011. The permission to non agriculture purpose was made only on 217027201 1. There is no construction started within the three years from the date of sale of residential house. Therefore, the condition laid down in section 54Fjl} thai new house property

M/S. JAYLAXMI LAND DEVELOPERS,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-1,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No.2226/Ahd/2016 "नधा"रण वष"/Asstt. Year: 2007-2008 M/S Jaylaxmi Land Developers, Income Tax Officer, B-07 Jaylaxmi Towers, Ward 1, Vs. Anand. Ganesh Chokdi, Post. Anand-388 001. Pan: Aaffj1432Q

49,95,546.00 to the total income of the assessee by treating the fair market rent as income under the head house property. 7. Aggrieved assessee preferred an appeal to the Ld. CIT (A) who has reduced the addition made by the AO to ₹ 34,01,400/- Only. Accordingly the Ld. CIT (A) partly confirmed the order

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.

49,838/- and interest paid was Rs.1,71,57,630/-. So the average rate of interest of taking loan comes to be 8.33% Further, it is seen that the overall appellant has earned interest income of Rs.32,27,673/- despite having paid interest to certain parties as higher rates. However, it is also a fact that the appellant paid interest

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.

49,838/- and interest paid was Rs.1,71,57,630/-. So the average rate of interest of taking loan comes to be 8.33% Further, it is seen that the overall appellant has earned interest income of Rs.32,27,673/- despite having paid interest to certain parties as higher rates. However, it is also a fact that the appellant paid interest