M/S. VISHAL ENGINEERS & GALVANIZERS,,AHMEDABAD vs. THE DY.CIT, CIRCLE-6,, AHMEDABAD

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

2. Gulabdas Printers – 4 ITR(T) 264 3. Well Pack Packaging 130 Taxman 215 I have carefully gone through the facts of the issue it is noted that the facts which are relevant for the present our that the land has been revalued the enhanced value on account of revaluation has been credited to the partners capital account; the appellant

SHRI MAHESH P. GANDHI,AHMEDABAD vs. THE ACIT., CIRCLE-10,, AHMEDABAD

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकर अपील सं./Ita Nos.1022 To 1025/Ahd/2018 िनधा"रण वष"/Asstt. Year: (1992-1993 To 1995-1996) Shri Mahesh P. Gandhi, A.C.I.T., D-404, 5Th Floor, Vs. Circle-10, Dharnidhar Tower, Ahmedabad. Paldi, Ahmedabad.

reassessment as the case may be under section 147 of the Act. 13.8 We further note that the provisions of section 292BB of the Act deals with the situation where notice is not served or not served on time or served in a improper manner viz a viz the assessee does not raise objection before the ITA nos.1022 to 1025/AHD/2018

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.

reassessment as the case may be under section 147 of the Act. But the AO has not done so. Accordingly, the order framed under section 143(3) read with section 147 of the Act becomes invalid. 9.8 We further note that the provisions of section 292BB of the Act deals with the situation where notice is not served

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.

reassessment as the case may be under section 147 of the Act. But the AO has not done so. Accordingly, the order framed under section 143(3) read with section 147 of the Act becomes invalid. 9.8 We further note that the provisions of section 292BB of the Act deals with the situation where notice is not served

THE DCIT, CIRCLE-4(1)(1),, AHMEDABAD vs. SPECIFIC CERAMIC LTD.,, GANDHINAGAR

In the result the appeal filed by the Revenue is dismissed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No. 121/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2008-2009 D.C.I.T., M/S. Specific Ceramics Ltd., Circle-4(1)(1), Vs. C 601-602, Part-C, Ahmedabad. Tower Indraprasth Complex, Thaltej Road, Ahmedabad.

reassessment as the case may be under section 147 of the Act. But the AO has not done so. Accordingly, the order framed under section 143(3) read with section 147 of the Act becomes invalid. 9.8 We further note that the provisions of section 292BB of the Act deals with the situation where notice is not served

KIRTI MILEX LIMITED,AHMEDABAD vs. ITO, WARD-2(1)(2),, AHMEDABAD

In the result the appeal filed by the assessee is allowed in part

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No.686/Ahd/2018 "नधा"रण वष"/Asstt. Year: 2008-2009 M/S. Kirti Milex Ltd., I.T.O, 5, Vasukanan, 2Nd Floor, Vs. Ward-2(1)(2), Nr.Lotus Flats, Ashram Road, Ahmedabad. Ahmedabad.

reassessment as the case may be. But the AO has not done so. Accordingly, the order framed under section 143(3) read with section 147 of the Act becomes invalid. 11. We further note that the provisions of section 292BB of the Act deals with the situation where notice is not served or not served on time or served

KAMLA CRAFT PACK PVT. LTD.,AHMEDABAD vs. ITO, WARD-2(1)(2), AHMEDABAD

In the result the appeal filed by the assessee is allowed in part

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No.810/Ahd/2018 "नधा"रण वष"/Asstt. Year: 2008-2009 Kamla Craft Pack Pvt. Ltd., I.T.O, 5, Vasukanan, Nr. Lotus Flats, Vs. Ward-2(1)(2), Ashram Road, Ahmedabad. Ahmedabad-38001. Pan: Aaack7985K

reassessment as the case may be. But the AO has not done so. Accordingly, the order framed under section 143(3) read with section 147 of the Act becomes invalid. 11. We further note that the provisions of section 292BB of the Act deals with the situation where notice is not served or not served on time or served

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

45 shall apply. Now, therefore, as per the provisions of section 49(1)(e) of the Act, the cost of acquisition of the asset shall be deemed to be the cost for which the previous owner of the property acquired it. Therefore, keeping in view the provisions of section 49(1), the cost of asset of such investment

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

reassessment or recomputation may be taken. 33.1 The provisions of subsection (1) of section 150 of the Act overrides the time limit provided under subsection 149 of the Act for issuing the notice under section 148 of the Act, for making assessment or assessment in consequence to any finding given by the appellate authority under

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

reassessment or recomputation may be taken. 33.1 The provisions of subsection (1) of section 150 of the Act overrides the time limit provided under subsection 149 of the Act for issuing the notice under section 148 of the Act, for making assessment or assessment in consequence to any finding given by the appellate authority under

THE ACIT, CIRCLE-2(1)(2),, AHMEDABAD vs. SHRI JIGAR JASHWANTLAL SHAH, AHMEDABAD

Appeal is dismissed

reassessment proceedings initiated by AO without jurisdiction in absence of 'reasons to believe' and escapement of any income that deserves to be quashed. 2 Ld. CIT (A) erred in law and on facts confirming addition in respect of additional 82,200 shares allotted to appellant due to renouncement of rights by wife & father in favour of the appellant held

SHRI JIGAR JASHWANTLAL SHAH,AHMEDABAD vs. THE ACIT, CIRCLE-2(1)(1),, AHMEDABAD

Appeal is dismissed

reassessment proceedings initiated by AO without jurisdiction in absence of 'reasons to believe' and escapement of any income that deserves to be quashed. 2 Ld. CIT (A) erred in law and on facts confirming addition in respect of additional 82,200 shares allotted to appellant due to renouncement of rights by wife & father in favour of the appellant held

BARODA CRICKET ASSOCIATION,,VADODARA vs. THE DY. CIT, (EXEMPTION), CIRCLE-2,, AHMEDABAD

In the result, the appeal is allowed in the terms indicated above

45 (Ahd)] wherein it was, inter alia, observed as follows:- “Our analysis: 31. As we proceed to deal with the impact of insertion of proviso to Section 2(15), we consider it appropriate to look at a coordinate bench decision, in the case of Hoshiarpur Improvement Trust v. ITO [2015] 155 ITD 570/61 taxmann.com 162 (Asr. - Trib.)], wherein, speaking through

SHRI RAOOF R DHANANI,,MUMBAI vs. ASSTT. COMMISSIONER OF INCOME TAX,CIRCLE-1(2),, BARODA

In the result, appeal of the assessee is allowed on jurisdiction

section 143(2) before finalizing order of reassessment. The Hon'ble High Court Gujarat High Court in the case of Panorama Builders (P.) Ltd [2014] 45

BARODA CRICKET ASSOCIATION,,BARODA vs. THE JT. CIT, RANGE-5,, BARODA

In the result, ITA No. 2841/Ahd/17, i

section 11. He submits that the proviso to Section 2(15) will not come into play ITA Nos: 1257/Ahd/13, 3303/Ahd/16, 3304/Ahd/16, 408/Ahd/17 (Assessment years: 2009-10, 2010-11, 2011-12 and 2012-13) ITA Nos: 336 and 337/Ahd/2015 and 2957/Ahd/2014, (Assessment years: 2009-10, 2011-12, 2010-11) ITA Nos: 2839, 2840 and 2841/ Ahd/ 2017 (Assessment years

SAURASHTRA CRICKET ASSOCIATION,,RAJKOT vs. THE DY. CIT (EXEMPTION), CIRCLE-2,, AHMEDABAD

In the result, ITA No. 2841/Ahd/17, i

section 11. He submits that the proviso to Section 2(15) will not come into play ITA Nos: 1257/Ahd/13, 3303/Ahd/16, 3304/Ahd/16, 408/Ahd/17 (Assessment years: 2009-10, 2010-11, 2011-12 and 2012-13) ITA Nos: 336 and 337/Ahd/2015 and 2957/Ahd/2014, (Assessment years: 2009-10, 2011-12, 2010-11) ITA Nos: 2839, 2840 and 2841/ Ahd/ 2017 (Assessment years

M/S. GUJARAT CRICKET ASSOCIATION,,AHMEDABAD vs. THE DEPUTY COMMISSIONER OF INCOME TAX EXEPTIONS, CIRCLE-1,, AHMEDABAD

In the result, ITA No. 2841/Ahd/17, i

section 11. He submits that the proviso to Section 2(15) will not come into play ITA Nos: 1257/Ahd/13, 3303/Ahd/16, 3304/Ahd/16, 408/Ahd/17 (Assessment years: 2009-10, 2010-11, 2011-12 and 2012-13) ITA Nos: 336 and 337/Ahd/2015 and 2957/Ahd/2014, (Assessment years: 2009-10, 2011-12, 2010-11) ITA Nos: 2839, 2840 and 2841/ Ahd/ 2017 (Assessment years

M/S. GUJARAT CRICKET ASSOCIATION,,AHMEDABAD vs. THE JT.. DIRECTOR OF INCOME TAX (EXEMPTION),, AHMEDABAD

In the result, ITA No. 2841/Ahd/17, i

section 11. He submits that the proviso to Section 2(15) will not come into play ITA Nos: 1257/Ahd/13, 3303/Ahd/16, 3304/Ahd/16, 408/Ahd/17 (Assessment years: 2009-10, 2010-11, 2011-12 and 2012-13) ITA Nos: 336 and 337/Ahd/2015 and 2957/Ahd/2014, (Assessment years: 2009-10, 2011-12, 2010-11) ITA Nos: 2839, 2840 and 2841/ Ahd/ 2017 (Assessment years