THE DY. CIT, CIRCLE-1(1)(2),, AHMEDABAD vs. JMC PROJECTS (INDIA) LIMITED,, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

196 Assessee 2 Encashment 08 2815/Ahd/2011 2008- ITA 81,81,115 Assessee 3 09 2036/Ahd/2011 2009- ITA 33,34,815 Assessee 2.1 10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under

THE ACIT, CIRCLE-2(1)(2),, AHMEDABAD vs. JMC PROJECTS (INDIA) LIMITED,, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

196 Assessee 2 Encashment 08 2815/Ahd/2011 2008- ITA 81,81,115 Assessee 3 09 2036/Ahd/2011 2009- ITA 33,34,815 Assessee 2.1 10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under

JMC PROJECTS (INDIA) LIMITED,,AHMEDABAD vs. THE DY. CIT, CENTRAL CIRCLE-1(1),, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

196 Assessee 2 Encashment 08 2815/Ahd/2011 2008- ITA 81,81,115 Assessee 3 09 2036/Ahd/2011 2009- ITA 33,34,815 Assessee 2.1 10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under

JMC PROJECTS (INDIA) LIMITED,,AHMEDABAD vs. THE DY. CIT, CENTRAL CIRCLE-1(1),, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

196 Assessee 2 Encashment 08 2815/Ahd/2011 2008- ITA 81,81,115 Assessee 3 09 2036/Ahd/2011 2009- ITA 33,34,815 Assessee 2.1 10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under

JMC PROJECTS (INDIA) LTD.,,AHMEDABAD vs. THE ACIT.,(OSD)-I,RANGE-4,, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

196 Assessee 2 Encashment 08 2815/Ahd/2011 2008- ITA 81,81,115 Assessee 3 09 2036/Ahd/2011 2009- ITA 33,34,815 Assessee 2.1 10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under

THE ACIT,(OSD)-I,RANGE-4,, AHMEDABAD vs. JMC PROJECTS (INDIA) LTD.,, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

196 Assessee 2 Encashment 08 2815/Ahd/2011 2008- ITA 81,81,115 Assessee 3 09 2036/Ahd/2011 2009- ITA 33,34,815 Assessee 2.1 10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under

JMC PROJECTS (INDIA) LTD.,,AHMEDABAD vs. THE ACIT.,(OSD)-I,RANGE-4,, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

196 Assessee 2 Encashment 08 2815/Ahd/2011 2008- ITA 81,81,115 Assessee 3 09 2036/Ahd/2011 2009- ITA 33,34,815 Assessee 2.1 10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under

THE ACIT,(OSD)-I,RANGE-4,, AHMEDABAD vs. JMC PROJECTS (INDIA) LTD.,, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

196 Assessee 2 Encashment 08 2815/Ahd/2011 2008- ITA 81,81,115 Assessee 3 09 2036/Ahd/2011 2009- ITA 33,34,815 Assessee 2.1 10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under

JMC PROJECTS (INDIA) LTD.,,AHMEDABAD vs. THE ACIT, CENTRAL CIRCLE-1(1),, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

196 Assessee 2 Encashment 08 2815/Ahd/2011 2008- ITA 81,81,115 Assessee 3 09 2036/Ahd/2011 2009- ITA 33,34,815 Assessee 2.1 10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under

JMC PROJECTS (INDIA) LTD.,,AHMEDABAD vs. THE ACIT, CENTRAL CIRCLE-1(1),, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

196 Assessee 2 Encashment 08 2815/Ahd/2011 2008- ITA 81,81,115 Assessee 3 09 2036/Ahd/2011 2009- ITA 33,34,815 Assessee 2.1 10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under

JMC PROJECTS (INDIA) LIMITED,,AHMEDABAD vs. THE DY. CIT, CENTRAL CIRCLE-1(1),, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

196 Assessee 2 Encashment 08 2815/Ahd/2011 2008- ITA 81,81,115 Assessee 3 09 2036/Ahd/2011 2009- ITA 33,34,815 Assessee 2.1 10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under

MR. ARPANBHAI VIRAMBHAI DESAI,GANDHINAGAR vs. THE PR. CIT, AHMEDABAD-3, AHMEDABAD

In the result, all four appeals filed by the assessee are\nallowed in above terms

reassessment order valid.\n(v) The crucial link between the information made available to the Assessing Officer\nand the formation of the belief should be present. The reasons must be self evident, they\nmust speak for themselves.\n(vi) The tangible material which forms the basis for the belief that income has escaped\nassessment must be evident from a reading

SUZLON ENERGY LTD.,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), AHMEDABAD

In the result the Ground Nos

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

196 ITD 422 [Guw] held that the 35 I.T.A No. 198 & 199/Ahd/2023 & Ors. A.Ys. 2016-17 & 2017-18 Page No Suzlon Engergy Ltd. vs. DCIT Amendment to Section 14A by the Finance Act, 2022 is Retrospective in nature and thereby applicable for the present Asst. Year. 14.1. We need not labour ourself on this issue, since very recently

SUZLON ENERGY LTD.,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), AHMEDABAD

In the result the Ground Nos

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

196 ITD 422 [Guw] held that the 35 I.T.A No. 198 & 199/Ahd/2023 & Ors. A.Ys. 2016-17 & 2017-18 Page No Suzlon Engergy Ltd. vs. DCIT Amendment to Section 14A by the Finance Act, 2022 is Retrospective in nature and thereby applicable for the present Asst. Year. 14.1. We need not labour ourself on this issue, since very recently

THE DY. COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), AHMEDABAD vs. SUZLON ENERGY LTD.,, AHMEDABAD

In the result the Ground Nos

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

196 ITD 422 [Guw] held that the 35 I.T.A No. 198 & 199/Ahd/2023 & Ors. A.Ys. 2016-17 & 2017-18 Page No Suzlon Engergy Ltd. vs. DCIT Amendment to Section 14A by the Finance Act, 2022 is Retrospective in nature and thereby applicable for the present Asst. Year. 14.1. We need not labour ourself on this issue, since very recently

THE DY. COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), AHMEDABAD vs. SUZLON ENERGY LTD.,, AHMEDABAD

In the result the Ground Nos

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

196 ITD 422 [Guw] held that the 35 I.T.A No. 198 & 199/Ahd/2023 & Ors. A.Ys. 2016-17 & 2017-18 Page No Suzlon Engergy Ltd. vs. DCIT Amendment to Section 14A by the Finance Act, 2022 is Retrospective in nature and thereby applicable for the present Asst. Year. 14.1. We need not labour ourself on this issue, since very recently

GUJARAT STATE ELECTRICITY CORPORATION LTD.,BARODA vs. THE DY.CIT, CIRCLE-1(1),, BARODA

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita Nos. 2841 & 2842/Ahd/2015 िनधा"रण वष" /Assessment Years : 2002-03 & 204-05 Gujarat State Electricity The Dcit बनाम/ Corporation Ltd. Circle-1(1) V/S. Sardar Patel Vidhyut Bhavan Baroda Race Course Circle Alkapuri, Baroda – 390 007 (अपीलाथ$/ Appellant) (&' यथ$/ Respondent) "थायी लेखा सं./Pan: Aaacg 6864 F

Reassessed Income Rs. 1,04,43,19,000/- Rs. 12,49,02,000/- under Section 115JB (after ITAT Set-Aside) 1. Gratuity and leave Additions to income Gratuity and leave u/s 115JB in Re- encashment of Rs. encashment of Rs. Assessment 1,99,615/- 1,44,89,769/- 2. Foreign exchange variation of Rs. 1,22,000/- Date

GUJARAT STATE ELECTRICITY CORPORATION LTD.,BARODA vs. THE DY.CIT, CIRCLE-1(1),, BARODA

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita Nos. 2841 & 2842/Ahd/2015 िनधा"रण वष" /Assessment Years : 2002-03 & 204-05 Gujarat State Electricity The Dcit बनाम/ Corporation Ltd. Circle-1(1) V/S. Sardar Patel Vidhyut Bhavan Baroda Race Course Circle Alkapuri, Baroda – 390 007 (अपीलाथ$/ Appellant) (&' यथ$/ Respondent) "थायी लेखा सं./Pan: Aaacg 6864 F

Reassessed Income Rs. 1,04,43,19,000/- Rs. 12,49,02,000/- under Section 115JB (after ITAT Set-Aside) 1. Gratuity and leave Additions to income Gratuity and leave u/s 115JB in Re- encashment of Rs. encashment of Rs. Assessment 1,99,615/- 1,44,89,769/- 2. Foreign exchange variation of Rs. 1,22,000/- Date