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

DCIT CENTRAL CIRCLE- 1(3), AAYKAR BHAVAN vs. SIDDHESWARI INFRASTRUCTURE, JUDGES BUNGLOW ROAD

The appeals are dismissed

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita Nos. 595 & 596/Ahd/2023 िनधा"रण वष" /Assessment Years: 2016-17 & 2017-18 Respectively The Dcit Siddheswari Infrastructure बनाम/ Circle-1(3) B-101, Shakti Enclave V/S. Ahmedabad Judges Bungalows Road Ahmedabad – 380 054 "थायी लेखा सं./Pan: Abmfs 3587 R (अपीलाथ$/ Appellant) (%& यथ$/ Respondent) Assessee By : -None- Revenue By : Shri Rignesh K. Das, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 12/09/2024 घोषणा की तारीख /Date Of Pronouncement: 23/09/2024 आदेश/O R D E R Per Makarand V. Mahadeokar, Am:

Section 147 Date of Reassessment 29.09.2021 29.09.2021 Order Key Additions by AO - Rs.1,38,65,603 - Rs.2,10,62,866 (Unexplained (Unexplained transactions) transactions) ITA Nos.595 & 596/Ahd/2023 The DCIT vs. Siddheswari Infrastructure Asst. Years : 2016-17 & 2017-18 - Rs.3,85,82,434 - Rs.36,50,754 (Excess (Estimated profit @ depreciation on heavy 20

DCIT CENTRAL CIRCLE 1(3) ,AHMEDABAD, AAYKAR BHAVAN, ASHRAM ROAD vs. SIDDHESWARI INFRASTRUCTURE, JUDGES BUNGLOW ROAD

The appeals are dismissed

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita Nos. 595 & 596/Ahd/2023 िनधा"रण वष" /Assessment Years: 2016-17 & 2017-18 Respectively The Dcit Siddheswari Infrastructure बनाम/ Circle-1(3) B-101, Shakti Enclave V/S. Ahmedabad Judges Bungalows Road Ahmedabad – 380 054 "थायी लेखा सं./Pan: Abmfs 3587 R (अपीलाथ$/ Appellant) (%& यथ$/ Respondent) Assessee By : -None- Revenue By : Shri Rignesh K. Das, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 12/09/2024 घोषणा की तारीख /Date Of Pronouncement: 23/09/2024 आदेश/O R D E R Per Makarand V. Mahadeokar, Am:

Section 147 Date of Reassessment 29.09.2021 29.09.2021 Order Key Additions by AO - Rs.1,38,65,603 - Rs.2,10,62,866 (Unexplained (Unexplained transactions) transactions) ITA Nos.595 & 596/Ahd/2023 The DCIT vs. Siddheswari Infrastructure Asst. Years : 2016-17 & 2017-18 - Rs.3,85,82,434 - Rs.36,50,754 (Excess (Estimated profit @ depreciation on heavy 20

DEPUTY COMMISSIONER OF INCOME TAX, INCOME TAX DEPARTMENT vs. ANILKUMAR OCHHAVLAL DESAI, VADODARA

In the result, the appeal of the Department is dismissed

Bench: Jurisdictional Assessing Officer?

reassessment and, therefore, the provisions of section 292BB would not be applicable in the facts of the present case. 12. In the light of the above discussion, the impugned notice under section 148 of the Act having been issued against a dead person, is a nullity and cannot be sustained. The petition, therefore, succeeds and is accordingly allowed. The impugned

DEPUTY COMMISSIONER OF INCOME -TAX, CENTRAL CIRCLE-1(1), AHMEDABAD, AHMEDABAD vs. MONARCH NETWORTH CAPITAL LIMITED, MUMBAI

Accordingly\ndismissed as not pressed.\n17. In the combined result, all three appeals filed by the Revenue for\nA.Ys.2013–14, 2014–15 and 2015–16 are dismissed

section 69A of the Act. Both the grounds raised by the Revenue are\ndismissed.\n Assessment Year 2014–15 (ITA No. 961/Ahd/2024)\n12.\nThe addition in the present year was made by the Assessing Officer on\nthe grounds that the assessee incurred a fictitious loss of Rs.1,40,65,890/- on\naccount of transactions in the scrip Looks Health Services

ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(2), AHMEDABAD, AHMEDABAD vs. SAI KRUPA DEVELOPERS, AHMEDABAD

In the result, this ground of appeal 1 to 4 of the Department is allowed for statistical purposes

Bench: Shri Ramit Kochar & Shri Siddhartha Nautiyal

20,571 (Rs. 21,37,140 * 15/100) against claim of the assessee of 8% of On Money as provided U/s. 44AD of the Act 5. Learned CIT(A) has erred in rejecting Ground of Appeal of Charging Interest U/s. 234B whereas he has allowed Grounds of Appeal and in respect of that this Ground of Appeal is required

SAI KRUPA DEVELOPERS,AHMEDABAD vs. THE ACIT, CEN. CIR.1(2), AHMEDABAD

In the result, this ground of appeal 1 to 4 of the Department is allowed for statistical purposes

Bench: Shri Ramit Kochar & Shri Siddhartha Nautiyal

20,571 (Rs. 21,37,140 * 15/100) against claim of the assessee of 8% of On Money as provided U/s. 44AD of the Act 5. Learned CIT(A) has erred in rejecting Ground of Appeal of Charging Interest U/s. 234B whereas he has allowed Grounds of Appeal and in respect of that this Ground of Appeal is required

SAI KRUPA DEVELOPERS,AHMEDABAD vs. THE ACIT, CEN. CIR.1(2), AHMEDABAD

In the result, this ground of appeal 1 to 4 of the Department is allowed for statistical purposes

Bench: Shri Ramit Kochar & Shri Siddhartha Nautiyal

20,571 (Rs. 21,37,140 * 15/100) against claim of the assessee of 8% of On Money as provided U/s. 44AD of the Act 5. Learned CIT(A) has erred in rejecting Ground of Appeal of Charging Interest U/s. 234B whereas he has allowed Grounds of Appeal and in respect of that this Ground of Appeal is required

ASSTT. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(2), AHMEDABAD, AHMEDABAD vs. SAI KRUPA DEVELOPERS, AHMEDABAD

In the result, this ground of appeal 1 to 4 of the Department is allowed for statistical purposes

Bench: Shri Ramit Kochar & Shri Siddhartha Nautiyal

20,571 (Rs. 21,37,140 * 15/100) against claim of the assessee of 8% of On Money as provided U/s. 44AD of the Act 5. Learned CIT(A) has erred in rejecting Ground of Appeal of Charging Interest U/s. 234B whereas he has allowed Grounds of Appeal and in respect of that this Ground of Appeal is required

SAI KRUPA DEVELOPERS,AHMEDABAD vs. THE ACIT, CEN. CIR.1(2), AHMEDABAD

In the result, this ground of appeal 1 to 4 of the Department is allowed for statistical purposes

Bench: Shri Ramit Kochar & Shri Siddhartha Nautiyal

20,571 (Rs. 21,37,140 * 15/100) against claim of the assessee of 8% of On Money as provided U/s. 44AD of the Act 5. Learned CIT(A) has erred in rejecting Ground of Appeal of Charging Interest U/s. 234B whereas he has allowed Grounds of Appeal and in respect of that this Ground of Appeal is required

RASHMIN KANTILAL VAKTA,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-1(2), AHMEDABAD

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

reassessment stage. The AO, therefore, made the addition under section 68 on a wholesale basis, treating the totality of the credits in the society’s account as unexplained cash credit, without opportunity to verify or examine the source-wise explanation. The said cheque receipts, ledger copies, and sales register were placed for the first time before the CIT(A) during

RASHMIN KANTILAL VAKTA,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-1(2), AHMEDABAD

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

reassessment stage. The AO, therefore, made the addition under section 68 on a wholesale basis, treating the totality of the credits in the society’s account as unexplained cash credit, without opportunity to verify or examine the source-wise explanation. The said cheque receipts, ledger copies, and sales register were placed for the first time before the CIT(A) during

MANISH RANJAN, DCIT, CENTRAL CIRCLE-1(2), AHMEDABAD, AHMEDABAD vs. RASHMIN KANTILAL VAKTA, AHMEDABAD

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

reassessment stage. The AO, therefore, made the addition under section 68 on a wholesale basis, treating the totality of the credits in the society’s account as unexplained cash credit, without opportunity to verify or examine the source-wise explanation. The said cheque receipts, ledger copies, and sales register were placed for the first time before the CIT(A) during

MANISH RANJAN, DCIT, CENTRAL CIRCLE-1(2), AHMEDABAD, AAYKAR BHAWAN ASHRAM ROAD, AHMEDABAD vs. RASHMIN KANTILAL VAKTA, ELLISBRIDGE AHMEDABAD GUJARAT

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

reassessment stage. The AO, therefore, made the addition under section 68 on a wholesale basis, treating the totality of the credits in the society’s account as unexplained cash credit, without opportunity to verify or examine the source-wise explanation. The said cheque receipts, ledger copies, and sales register were placed for the first time before the CIT(A) during

WAVES TRADELINE PRIVATE LIMITED,AHMEDABAD vs. THE ITO, WARD-4(1)(1), AHMEDABAD

The appeals of the assessee are allowed

Bench: Ms. Suchitra Kamble & Shri Narendra Prasad Sinha

reassessment proceeding by issue of notice under Section 148 of the Act on 07.06.2021. Thereafter, as per the direction of Hon’ble Supreme Court in the case of Union of India and Ors. vs Ashish Agarwal (Civil Appeal No.3005/2022) dated 04.05.2022, the Assessing Officer had issued notice under Section 148A(b) of the Act on 25.05.2022. Subsequently, the order under

WAVES TRADELINE PRIVATE LIMITED,AHMEDABAD vs. THE ITO, WARD-4(1)(1), AHMEDABAD

The appeals of the assessee are allowed

Bench: Ms. Suchitra Kamble & Shri Narendra Prasad Sinha

reassessment proceeding by issue of notice under Section 148 of the Act on 07.06.2021. Thereafter, as per the direction of Hon’ble Supreme Court in the case of Union of India and Ors. vs Ashish Agarwal (Civil Appeal No.3005/2022) dated 04.05.2022, the Assessing Officer had issued notice under Section 148A(b) of the Act on 25.05.2022. Subsequently, the order under

PARULBEN VIJAYKUMAR PATEL,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-3(3)(1), AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

20,156/- by filing return of income and if, the case of the assessee was not reopened under Section 147 of the Act, the assessee would not have reported the escaped amount and then, the said amount would have escaped assessment. The Assessing Officer, therefore, initiated penalty proceedings under Section 270A Parulben Vijakumar Patel vs. ITO Asst.Year

DEPUTY COMMISSIONER OF INCOME -TAX, CENTRAL CIRCLE-1(1), AHMEDABAD, AHMEDABAD vs. MONARCH NETWORTH CAPITAL LIMITED, MUMBAI

Accordingly\ndismissed as not pressed.\n17. In the combined result, all three appeals filed by the Revenue for\nA.Ys.2013–14, 2014–15 and 2015–16 are dismissed

section 69A of the Act. Both the grounds raised by the Revenue are\ndismissed.\n Assessment Year 2014–15 (ITA No. 961/Ahd/2024)\n12. The addition in the present year was made by the Assessing Officer on\nthe grounds that the assessee incurred a fictitious loss of Rs.1,40,65,890/- on\naccount of transactions in the scrip Looks Health Services