M/S. ASIAN AGENCY,,AHMEDABAD vs. THE ACIT, CIRCEL-7(2),, AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Smt. Madhumita Roy

penalty proceedings u/s 271 (1) (c) is not justified.” 3. Additional ground: “Appellant craves leave to raise this additional ground of appeal before the Hon'ble ITAT. This is a legal ground and therefore as per the decision of Hon'ble Supreme Court in the case of National Thermal Power (229 ITR 383) it can be raised before

THE ITO, WARD-7(2)(1),, AHMEDABAD vs. M/S. ASIAN AGENCY,, AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Smt. Madhumita Roy

penalty proceedings u/s 271 (1) (c) is not justified.” 3. Additional ground: “Appellant craves leave to raise this additional ground of appeal before the Hon'ble ITAT. This is a legal ground and therefore as per the decision of Hon'ble Supreme Court in the case of National Thermal Power (229 ITR 383) it can be raised before

M/S. ASIAN AGENCY,,AHMEDABAD vs. THE ACIT, CIRCLE-12,, AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Smt. Madhumita Roy

penalty proceedings u/s 271 (1) (c) is not justified.” 3. Additional ground: “Appellant craves leave to raise this additional ground of appeal before the Hon'ble ITAT. This is a legal ground and therefore as per the decision of Hon'ble Supreme Court in the case of National Thermal Power (229 ITR 383) it can be raised before

M/S. ASIAN AGENCY,,AHMEDABAD vs. THE DCIT, CIRCEL-7(2),, AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Smt. Madhumita Roy

penalty proceedings u/s 271 (1) (c) is not justified.” 3. Additional ground: “Appellant craves leave to raise this additional ground of appeal before the Hon'ble ITAT. This is a legal ground and therefore as per the decision of Hon'ble Supreme Court in the case of National Thermal Power (229 ITR 383) it can be raised before

M/S. ASIAN AGENCY,,AHMEDABAD vs. THE ASSTT. COMMISSIONER OF INCOME TAX, CIRCEL-7(2),, AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Smt. Madhumita Roy

penalty proceedings u/s 271 (1) (c) is not justified.” 3. Additional ground: “Appellant craves leave to raise this additional ground of appeal before the Hon'ble ITAT. This is a legal ground and therefore as per the decision of Hon'ble Supreme Court in the case of National Thermal Power (229 ITR 383) it can be raised before

M/S. ASIAN AGENCY,,AHMEDABAD vs. COMMISSIONER OF INCOME TAX,VII,, AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Smt. Madhumita Roy

penalty proceedings u/s 271 (1) (c) is not justified.” 3. Additional ground: “Appellant craves leave to raise this additional ground of appeal before the Hon'ble ITAT. This is a legal ground and therefore as per the decision of Hon'ble Supreme Court in the case of National Thermal Power (229 ITR 383) it can be raised before

SUN PHARMACEUTICAL INDUSTRIES,MUMBAI vs. JCIT 20(3), MUMBAI

In the result appeal of the Revenue is hereby dismissed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

145(1) is an enabling provision. It is intended to enable the Assessing Officer to make the correct Group Appeals – Sun Pharma Laboratories Ltd (Erstwhile M/s. Sun Pharma Sikkim) AY : 2011-12, 2012-13 & 2013-14 21 assessment which is the paramount object. It is not intended to confer any right or benefit upon an erring assessee. Thus, this section

CHIRAG ISHWARBHAI PATEL,AHMEDABAD vs. THE ITO, WARD-3(3)(6), AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No. 1182 & 1192/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2010-11 Chirag Ishwarbhai Patel, I.T.O., 49 Dharamanth Prabhu Society, Vs. Ward-3(3)(6), Near Adishawar Society, Ahmedabad. Nikol Road, Naroda, Ahmedabad.

penalty order passed u/s 271(1)(c) of the Act, relevant to the Assessment Year 2010-11. 2. The assessee has raised following grounds of appeal: 1. That the learned C1T(A) has erred in law and fact by not quashing he assessment order, as the learned AO has not complied the provisions of section

CHIRAG ISHWARBHAI PATEL,AHMEDABAD vs. THE ITO, WARD-7(2)(1), AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No. 1182 & 1192/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2010-11 Chirag Ishwarbhai Patel, I.T.O., 49 Dharamanth Prabhu Society, Vs. Ward-3(3)(6), Near Adishawar Society, Ahmedabad. Nikol Road, Naroda, Ahmedabad.

penalty order passed u/s 271(1)(c) of the Act, relevant to the Assessment Year 2010-11. 2. The assessee has raised following grounds of appeal: 1. That the learned C1T(A) has erred in law and fact by not quashing he assessment order, as the learned AO has not complied the provisions of section

THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1),, BARODA vs. M/S. SUN PHARMACEUTICALS INDUSTRIES LIMITED,, VADODARA

In the result the appeal of the revenue is dismissed

Bench: The Itat Ahmedabad Vide Ita No. 3289/Ahd/2002 & 3343/Ahd/2002. Addition On Account Of Profit On Sale Of Depb For The Purpose Of Rs.11,41,480 Deduction U/S.80Ia Deduction U/S.115Jb(2) In Respect Of Book Losses Of Pradeep Drug Rs.3, 39,12,399

section 72 and 72A. Moreover, the tax has been levied under normal provisions of the Act and hence no penalty can be levied for the additions made under MAT provisions, the Ld. Authorized Signatory has emphasized. I have perused the assessment order and find that the Assessing Officer has assessed the total income of assessee under normal provisions since

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

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

penalty levied of Rs.51,73,081/- u/s 271(1)(c) of the Act despite the fact that the ld. CIT(A) has confirmed these additions/disallowances. (a) Clam of Short Term capital loss Rs. 21,87,518/- (b) Payments to Axis PE for due diligence Rs.41,54,372/- (c) Dead Stock Rs.6,23,810/- (d) Disallowance u/s 40(a) Rs.4

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

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

penalty levied of Rs.51,73,081/- u/s 271(1)(c) of the Act despite the fact that the ld. CIT(A) has confirmed these additions/disallowances. (a) Clam of Short Term capital loss Rs. 21,87,518/- (b) Payments to Axis PE for due diligence Rs.41,54,372/- (c) Dead Stock Rs.6,23,810/- (d) Disallowance u/s 40(a) Rs.4

CORRTECH INTERNATIONAL PVT. LTD.,AHMEDABAD vs. THE ADDL. CIT, TDS RANGE,, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

penalty levied of Rs.51,73,081/- u/s 271(1)(c) of the Act despite the fact that the ld. CIT(A) has confirmed these additions/disallowances. (a) Clam of Short Term capital loss Rs. 21,87,518/- (b) Payments to Axis PE for due diligence Rs.41,54,372/- (c) Dead Stock Rs.6,23,810/- (d) Disallowance u/s 40(a) Rs.4

THE DCIT(OSD) RANGE-1,, AHMEDABAD vs. M/S. CORRTECH INTERNATIONAL PVT.LTD.,, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

penalty levied of Rs.51,73,081/- u/s 271(1)(c) of the Act despite the fact that the ld. CIT(A) has confirmed these additions/disallowances. (a) Clam of Short Term capital loss Rs. 21,87,518/- (b) Payments to Axis PE for due diligence Rs.41,54,372/- (c) Dead Stock Rs.6,23,810/- (d) Disallowance u/s 40(a) Rs.4

THE DCIT(OSD) RANGE-1,, AHMEDABAD vs. M/S. CORRTECH INTERNATIONAL PVT.LTD.,, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

penalty levied of Rs.51,73,081/- u/s 271(1)(c) of the Act despite the fact that the ld. CIT(A) has confirmed these additions/disallowances. (a) Clam of Short Term capital loss Rs. 21,87,518/- (b) Payments to Axis PE for due diligence Rs.41,54,372/- (c) Dead Stock Rs.6,23,810/- (d) Disallowance u/s 40(a) Rs.4

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(2),, AHMEDABAD vs. M/S. CORRTECH INTERNATIONAL PVT. LTD.,, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

penalty levied of Rs.51,73,081/- u/s 271(1)(c) of the Act despite the fact that the ld. CIT(A) has confirmed these additions/disallowances. (a) Clam of Short Term capital loss Rs. 21,87,518/- (b) Payments to Axis PE for due diligence Rs.41,54,372/- (c) Dead Stock Rs.6,23,810/- (d) Disallowance u/s 40(a) Rs.4

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

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

penalty levied of Rs.51,73,081/- u/s 271(1)(c) of the Act despite the fact that the ld. CIT(A) has confirmed these additions/disallowances. (a) Clam of Short Term capital loss Rs. 21,87,518/- (b) Payments to Axis PE for due diligence Rs.41,54,372/- (c) Dead Stock Rs.6,23,810/- (d) Disallowance u/s 40(a) Rs.4

CORRTECH INTERNATIONAL PVT. LTD.,AHMEDABAD vs. THE ADDL. CIT, TDS RANGE,, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

penalty levied of Rs.51,73,081/- u/s 271(1)(c) of the Act despite the fact that the ld. CIT(A) has confirmed these additions/disallowances. (a) Clam of Short Term capital loss Rs. 21,87,518/- (b) Payments to Axis PE for due diligence Rs.41,54,372/- (c) Dead Stock Rs.6,23,810/- (d) Disallowance u/s 40(a) Rs.4