THE DCIT, CIRCLE-6,, AHMEDABAD vs. VISHAL ENGINEERING & GALVANIZERS,, AHMEDABAD

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

capital gains tax. The reassessment proceedings were initiated against the assessee. The Assessing Officer held that whatever might be the position

THE ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), AHMEDABAD vs. SHRI KAILASH RAMAVATAR GOENKA, AHMEDABAD

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokar

capital gains year-wise as computed and directed by the CIT(A). B. Grounds relating to Addition in respect of Internal Circulation of Funds and Unaccounted Receipts and Payments 15. The issue involved under these grounds pertain to unaccounted cash receipts and unaccounted cash payments, as reflected in the seized documents during the search operation. The AO made substantial additions

THE ACIT,(OSD)CIRCLE-8,, AHMEDABAD vs. TORRENT POWER LTD.,, AHMEDABAD

In the result, the appeal of the Revenue and the Cross-objection of the assessee, both are dismissed

Bench: Shri Sandeep Gosain & Shri Amarjit Singh

gains without considering Indexation of actual cost relating to the period the investments in question were held by the previous owners (Amalgamating Companies) resulting into disallowance of carry forward of long term capital loss of 'Rs. 7,72,9 7, 783 (Rs. 8,20,72,060 minus Rs. 47,74,277). As only a plain reading of the impugned reassessment

GUJARAT FLUROCHEMICALS LIMITED.,,VADODARA vs. THE ACIT, CIRCLE-1(1)(1),, VADODARA

In the result, both appeals of the assessee are partly allowed

Bench: Shri Rajpal Yadav & Shri Amarjit Singhआयकर अपील सं./ Ita No.805/Ahd/2017 "नधा"रण वष"/Asstt. Year: 2012-2013 & Asst.Year : 2013-2014

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment year beginning on or before the 1st day of April, 2001. 12. A perusal of this section would indicate that sub-section-1 contemplates that deduction of expenditure incurred

GUJARAT FLUOROCHEMICALS LIMITED,,VADODARA vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, VADODARA

In the result, both appeals of the assessee are partly allowed

Bench: Shri Rajpal Yadav & Shri Amarjit Singhआयकर अपील सं./ Ita No.805/Ahd/2017 "नधा"रण वष"/Asstt. Year: 2012-2013 & Asst.Year : 2013-2014

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment year beginning on or before the 1st day of April, 2001. 12. A perusal of this section would indicate that sub-section-1 contemplates that deduction of expenditure incurred

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain of survey no. 485 has been declared in return of income filled by the assessee and accordingly levied penalty on the same by Assessing officer which has been upheld by CIT Appeal. 3. The appellant also request to honourable court for condonation of delay in filling appeal. 4. The appellant craves for liberty to add fresh ground

SHRI ROHITJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain of survey no. 485 has been declared in return of income filled by the assessee and accordingly levied penalty on the same by Assessing officer which has been upheld by CIT Appeal. 3. The appellant also request to honourable court for condonation of delay in filling appeal. 4. The appellant craves for liberty to add fresh ground

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain of survey no. 485 has been declared in return of income filled by the assessee and accordingly levied penalty on the same by Assessing officer which has been upheld by CIT Appeal. 3. The appellant also request to honourable court for condonation of delay in filling appeal. 4. The appellant craves for liberty to add fresh ground

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain of survey no. 485 has been declared in return of income filled by the assessee and accordingly levied penalty on the same by Assessing officer which has been upheld by CIT Appeal. 3. The appellant also request to honourable court for condonation of delay in filling appeal. 4. The appellant craves for liberty to add fresh ground

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain of survey no. 485 has been declared in return of income filled by the assessee and accordingly levied penalty on the same by Assessing officer which has been upheld by CIT Appeal. 3. The appellant also request to honourable court for condonation of delay in filling appeal. 4. The appellant craves for liberty to add fresh ground

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain of survey no. 485 has been declared in return of income filled by the assessee and accordingly levied penalty on the same by Assessing officer which has been upheld by CIT Appeal. 3. The appellant also request to honourable court for condonation of delay in filling appeal. 4. The appellant craves for liberty to add fresh ground

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain of survey no. 485 has been declared in return of income filled by the assessee and accordingly levied penalty on the same by Assessing officer which has been upheld by CIT Appeal. 3. The appellant also request to honourable court for condonation of delay in filling appeal. 4. The appellant craves for liberty to add fresh ground

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain of survey no. 485 has been declared in return of income filled by the assessee and accordingly levied penalty on the same by Assessing officer which has been upheld by CIT Appeal. 3. The appellant also request to honourable court for condonation of delay in filling appeal. 4. The appellant craves for liberty to add fresh ground

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain of survey no. 485 has been declared in return of income filled by the assessee and accordingly levied penalty on the same by Assessing officer which has been upheld by CIT Appeal. 3. The appellant also request to honourable court for condonation of delay in filling appeal. 4. The appellant craves for liberty to add fresh ground

RAMILABEN GANPATBHAI PATEL,,AHMEDABD vs. THE ITO, WARD-3(3)(4),, AHMEDABAD

In the result, the appeal of the Revenue is dismissed, while the appeal of the assessee is partly allowed

Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyalassessment Years : 2012-13 Ramilaben Ganpatbhai Patel, The Income-Tax Officer, 5, Rajsurya Bungalows, Vs Ward 3(3)(4), Nr. Fun Republic, Ramdevnagar, Ahmedabad Satellite, Ahmedabad-380051 Pan : Aaspp 2683 G Assessment Years : 2012-13 The Income-Tax Officer, Ramilaben Ganpatbhai Patel, Ward 3(3)(4), Vs 5, Rajsurya Bungalows, Ahmedabad Nr. Fun Republic, Ramdevnagar, Satellite, Ahmedabad-380051 Pan : Aaspp 2683 G अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri A.C. Shah, Ar & Shri Bhadresh Gandhakwala, Ar Revenue By : Shri R.R. Makwana, Sr. Dr सुनवाई क" तार"ख/Date Of Hearing : 26/04/2022 घोषणा क" तार"ख /Date Of Pronouncement: 11/05/2022 आदेश / O R D E R Per P.M. Jagtap, Vice-:

reassessment is bad in law inasmuch as there is no escapement of income. ITA Nos. 2968/Ahd/2017 & 157/Ahd/2018 Smt Ramilaben Ganpatbhai Patel-Cross Appeals AY : 2012-13 9 2. The learned CIT(A) has erred in confirming the addition of Long Term Capital Gain

ITO, WARD-3(3)(4),, AHMEDABAD vs. SMT. RAMILABEN G. PATEL,, AHMEDABAD

In the result, the appeal of the Revenue is dismissed, while the appeal of the assessee is partly allowed

Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyalassessment Years : 2012-13 Ramilaben Ganpatbhai Patel, The Income-Tax Officer, 5, Rajsurya Bungalows, Vs Ward 3(3)(4), Nr. Fun Republic, Ramdevnagar, Ahmedabad Satellite, Ahmedabad-380051 Pan : Aaspp 2683 G Assessment Years : 2012-13 The Income-Tax Officer, Ramilaben Ganpatbhai Patel, Ward 3(3)(4), Vs 5, Rajsurya Bungalows, Ahmedabad Nr. Fun Republic, Ramdevnagar, Satellite, Ahmedabad-380051 Pan : Aaspp 2683 G अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri A.C. Shah, Ar & Shri Bhadresh Gandhakwala, Ar Revenue By : Shri R.R. Makwana, Sr. Dr सुनवाई क" तार"ख/Date Of Hearing : 26/04/2022 घोषणा क" तार"ख /Date Of Pronouncement: 11/05/2022 आदेश / O R D E R Per P.M. Jagtap, Vice-:

reassessment is bad in law inasmuch as there is no escapement of income. ITA Nos. 2968/Ahd/2017 & 157/Ahd/2018 Smt Ramilaben Ganpatbhai Patel-Cross Appeals AY : 2012-13 9 2. The learned CIT(A) has erred in confirming the addition of Long Term Capital Gain

MOHSIN ZULFIKAR KORADIA,AHMEDABAD vs. THE PR. CIT-3, AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Smt.Annapurna Gupta & T.R. Senthil Kumarasstt.Year : 2011-12 Mohsin Zulfikar Koradia The Pr.Cit-3 C/O.Gujarat Food Industries Vs Ahmedabad. 4324 Phase Iv Gidc Vatva Ahmedabad 382 445 Pan : Htpk 0799 C

reassessment proceedings had been initiated on the assessee on the basis of information that the assessee had traded in scrips of penny stock company viz. M/s. Vas Infrastructure Ltd. (“VIL” for short) amounting to Rs.41,78,568/-. Thereafter case of the assessee was reopened and during the assessment proceedings, the assessee filed revised 3 return declaring capital gain

SHANTABEN PARASMAL JAIN,,AHMEDABAD vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1),, VADODARA

In the result, appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./ Ita No. 726/Ahd/2017 "नधा"रण वष"/Assessment Year: 2010-11 Shantaben Parasmal Jain, Vs. Dcit, 27, Vijay Society, Cir – 3(1), New Khanderao Road., Vadodara. Baroda. Pan No. Abwpj 8597 J अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Prakash D. Shah, A.R. Revenue By : Shri S. N. Dev, Sr. D.R. सुनवाई क" तार"ख/Date Of Hearing : 08.08.2018 घोषणा क" तार"ख /Date Of Pronouncement : 15.10.2018 आदेश/O R D E R Per Waseem Ahmed: The Captioned Appeal Has Been Filed At The Instance Of The Assessee Against The Appellate Order Of The Learned Commissioner Of Income-Tax (Appeals)-I, Vadodara [“Cit(A)” In Short] Relevant To Assessment Year 2010- 11. 2. Assessee Has Raised The Following Grounds Of Appeal:- “1. That The Learned Commissioner Of Income Tax (Appeals) Has Erred In Law & Facts By Upholding The Reassessment Proceedings & Therefore The Order Passed By The Learned Ao Is Required To Be Quashed. 2. That The Learned Commissioner Of Income Tax (Appeals) Has Erred In Law & Facts By Confirming The Disallowance Of Long Term Capital Gain Of Rs. 87,57,789/- As Exempt Income & Adding Back To The Total Income Of The Appellant & Therefore The Learned Ao Should Be Directed To Allow The Claim Of Exempt Income. 3. That The Appellant Craves Liberty To Add, Amend, Alter & Delete Any Grounds Of Appeal Before The Final Hearing.”

reassessment proceedings and therefore the order passed by the learned AO is required to be quashed. 2. That the learned Commissioner of Income Tax (Appeals) has erred in law and facts by confirming the disallowance of Long Term Capital Gain