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

1) of IT Act in the appellate orders in the cases of aforesaid both individuals, the reassessment proceedings u/s.147 of IT Act was initiated in the case of assessee. However, it has been argued by the appellant that because of the application of section 150(2) of IT Act the aforesaid time limit for issue of notice

ABDULVAHED A. SHEIKH, LEGAL HEIROF LATE SMT. SARIFABEN BIKHUBHAI SHEK,,AHMEDABAD vs. THE ITO, WARD-7(2)(5),, AHMEDABAD

The appeal of the assessee is allowed in above terms

1) was not made, the service of a notice under s. 7(2) of the Act was the only method for initiation of a valid assessment proceeding under the Act. The period of two years under s. 7(2) was a fetter on the power of the authority and was not just a bar of time. It was the scheme

AMBE TRADECORP PVT. LTD.,AHMEDABAD vs. THE PR. CIT (CENTRAL), AHMEDABAD

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

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No.53/Ahd/2021 िनधा"रण वष"/Asstt. Year: 2010-2011 Ambe Tradecorp Private Limited, The P.C.I.T.(Central) Iscon House, Vs. Ahmedabad. B/H. Rembrandt Building, C.G. Road, Ahmedabad.

reassessment proceedings were framed under section 143(3) read with section 147 of the Act vide order dated 13th December 2017 after making any addition of Rs. 39,05,50,000/- to the total income of the assessee. It is necessary to clarify at this juncture that there was a mismatch in the amount recorded in the reasons for reopening

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

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

256 ITR 360), the CIT(A) held that assessee had discharged its burden under section 68/69A and deleted the addition to this extent. 13. In respect of addition u/s 68/69A relating to A.Y. 2014-15, the AO made an addition of Rs.88,66,48,200/- on the basis of deposits in the Society’s account. The assessee submitted that

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

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

256 ITR 360), the CIT(A) held that assessee had discharged its burden under section 68/69A and deleted the addition to this extent. 13. In respect of addition u/s 68/69A relating to A.Y. 2014-15, the AO made an addition of Rs.88,66,48,200/- on the basis of deposits in the Society’s account. The assessee submitted that

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

256 ITR 360), the CIT(A) held that assessee had discharged its burden under section 68/69A and deleted the addition to this extent. 13. In respect of addition u/s 68/69A relating to A.Y. 2014-15, the AO made an addition of Rs.88,66,48,200/- on the basis of deposits in the Society’s account. The assessee submitted that

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

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

256 ITR 360), the CIT(A) held that assessee had discharged its burden under section 68/69A and deleted the addition to this extent. 13. In respect of addition u/s 68/69A relating to A.Y. 2014-15, the AO made an addition of Rs.88,66,48,200/- on the basis of deposits in the Society’s account. The assessee submitted that

SAKETKUMAR RUGNATH TANNA LEGAL HEIR OF LATE SMT. INDUMATIBEN RUGNATH TANNA,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-2(2), AHMEDABAD

In the result the assessee appeal in ITA

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

reassessment proceedings held that the cash deposits of Rs.3,17,82,256/= and cheque clearing and transfer entries of Rs.52,97,389 in the bank accounts of the three assessees and their three Firms are unexplained income and added the same substantially in the hands of Sri.Saketkumar R Tanna and also protectively in the hands of Smt. Ritaben Saketkumar Tanna

SAKETKUMAR RUGNATH TANNA,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-2(2), AHMEDABAD

In the result the assessee appeal in ITA

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

reassessment proceedings held that the cash deposits of Rs.3,17,82,256/= and cheque clearing and transfer entries of Rs.52,97,389 in the bank accounts of the three assessees and their three Firms are unexplained income and added the same substantially in the hands of Sri.Saketkumar R Tanna and also protectively in the hands of Smt. Ritaben Saketkumar Tanna

SMT. RITABEN SAKETKUMAR TANNA,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-2(2), AHMEDABAD

In the result the assessee appeal in ITA

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

reassessment proceedings held that the cash deposits of Rs.3,17,82,256/= and cheque clearing and transfer entries of Rs.52,97,389 in the bank accounts of the three assessees and their three Firms are unexplained income and added the same substantially in the hands of Sri.Saketkumar R Tanna and also protectively in the hands of Smt. Ritaben Saketkumar Tanna

SAKETKUMAR RUGNATH TANNA,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-2(2), AHMEDABAD

In the result the assessee appeal in ITA

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

reassessment proceedings held that the cash deposits of Rs.3,17,82,256/= and cheque clearing and transfer entries of Rs.52,97,389 in the bank accounts of the three assessees and their three Firms are unexplained income and added the same substantially in the hands of Sri.Saketkumar R Tanna and also protectively in the hands of Smt. Ritaben Saketkumar Tanna

THE ITO WARD-5(3)(1) (PREVIOUSLY THE ACIT, CENTRAL CIRCLE-2(2)), AHMEDABAD vs. SHRI SAKETKUMAR RUGNATH TANNA LEGAL HEIR OF LATE SMT. INDUMATIBEN RUGNATH TANNA, AHMEDABAD

In the result the assessee appeal in ITA

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

reassessment proceedings held that the cash deposits of Rs.3,17,82,256/= and cheque clearing and transfer entries of Rs.52,97,389 in the bank accounts of the three assessees and their three Firms are unexplained income and added the same substantially in the hands of Sri.Saketkumar R Tanna and also protectively in the hands of Smt. Ritaben Saketkumar Tanna

THE ACIT, CENTRAL CIRCLE-2(2), AHMEDABAD vs. SMT. RITABEN SAKETKUMAR TANNA, AHMEDABAD

In the result the assessee appeal in ITA

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

reassessment proceedings held that the cash deposits of Rs.3,17,82,256/= and cheque clearing and transfer entries of Rs.52,97,389 in the bank accounts of the three assessees and their three Firms are unexplained income and added the same substantially in the hands of Sri.Saketkumar R Tanna and also protectively in the hands of Smt. Ritaben Saketkumar Tanna

CHHAYA VIKAS SHAH LEGAL HEIR & WIFE OF LATE VIKAS SHAH,AHMEDABAD vs. THE DY.CIT, CENTRAL CIRCLE-2(2), AHMEDABAD

In the result, all three appeals of the Assessee are dismissed

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokarsl. आयकर अपील सं/ "नधा"रण वष"/ Appeal(S) By : No(S)

256/- calculated at 8% of the receipts Related to constructio n activities Rs. - Net peak 12,39,631/- 11,37,437/- 8,15,340/- amount of the cash and finance Transaction s Rs. - Rent 11,35,000/- 11,35,000/- 1,40,000/- income (received) Rs. - Expenses 50,000/- 50,0000/- 40,000/- disallowed confirmed by CIT(A) not pressed

M/S. RANBAXY LABORATORIES LIMITED,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, the appeal of the assessee in IT(TP) A No

Bench: Justice P.P. Bhatt & Shri Waseem Ahmed1. आयकर अपील सं./It(Tp)A No. 1782/Del/2014 2. आयकर अपील सं./It(Tp)A No. 781/Del/2015 ("नधा"रण वष"/Assessment Years : 2009-10 & 2010-11) Ranbaxy Laboratories Ltd. The Dcit बनाम/ 12Th Floor, Devika Tower Circle-21(1), New Vs. 6, Nehru Place, New Delhi Delhi/ 110 019 Addl.Cit Range-15 New Delhi "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacr0127N .. (अपीलाथ"/Appellant) (""यथ" / Respondent) अपीलाथ" ओर से/ Appellant By : Shri S.N.Soparkar, Shri Vartik Chokshi, Ms.Urvashi Shodhan & Shri P.Shah, Ars ""यथ" क" ओर से/Respondent By: Shri Mahesh Shah, Cit-Dr

section 192 of the Act. But the assessee has claimed such expenses without deducting the TDS. Thus the impugned expenses cannot be allowed under section 40(a)(ia) of the Act. The ld. DR vehemently supported the order of the lower authorities. 17. We have heard the rival contentions of both the parties and perused the material available on records

RANBAXY LABORATORIES LTD.,DELHI vs. DCIT, NEW DELHI

In the result, the appeal of the assessee in IT(TP) A No

Bench: Justice P.P. Bhatt & Shri Waseem Ahmed1. आयकर अपील सं./It(Tp)A No. 1782/Del/2014 2. आयकर अपील सं./It(Tp)A No. 781/Del/2015 ("नधा"रण वष"/Assessment Years : 2009-10 & 2010-11) Ranbaxy Laboratories Ltd. The Dcit बनाम/ 12Th Floor, Devika Tower Circle-21(1), New Vs. 6, Nehru Place, New Delhi Delhi/ 110 019 Addl.Cit Range-15 New Delhi "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacr0127N .. (अपीलाथ"/Appellant) (""यथ" / Respondent) अपीलाथ" ओर से/ Appellant By : Shri S.N.Soparkar, Shri Vartik Chokshi, Ms.Urvashi Shodhan & Shri P.Shah, Ars ""यथ" क" ओर से/Respondent By: Shri Mahesh Shah, Cit-Dr

section 192 of the Act. But the assessee has claimed such expenses without deducting the TDS. Thus the impugned expenses cannot be allowed under section 40(a)(ia) of the Act. The ld. DR vehemently supported the order of the lower authorities. 17. We have heard the rival contentions of both the parties and perused the material available on records

DCIT, CENTRAL CIRCLE-1(2), AHMEDABAD vs. DHARMENBHAI MAHENDRABHAI SUTARIA -HUF, AHMEDABAD

In the result appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No. 795/Ahd/2019 With C.O.No.169/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2010-2011 D.C.I.T., Dharmenbhai M. Sutaria, Huf Central Circle-1(2), Vs. 16-B, Jadav Chamber, Ahmedabad. Ashram Road, Ahmedabad-380009. Pan: Aafhd1653K

reassessment proceedings and grants primacy to section 153C. As noted earlier, exercise of power under section 153C is governed without any stringent fetters of holding 'reason to believe' contemplated under section 147. Therefore, while exercise of overriding power under section 153C will render section 147 otiose, the converse case of clipping the powers available under section 147 in search cases

SAAKEN ALLOYS PVT. LTD.,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-8(1),, AHMEDABAD

In the result, both appeals of the assessee are dismissed

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediaआयकर अपील सं./ Ita No. 2179 & 2180/Ahd/2016 "नधा"रण वष"/Assessment Year: 2007-08 & 2008-09

reassessment order under section 143(3) r.w.s. 147 of the Act. 5. Brief facts of the case are that the assessee-company had filed its return of income on 29.10.2007 and 28.9.2008 declaring total income at Rs.72,700/- and Rs.5,81,456/- in the Asstt.Year 2007-08 and 2008-09. The assessee company at the relevant time was engaged

SAAKEN ALLOYS PVT. LTD.,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-8(1),, AHMEDABAD

In the result, both appeals of the assessee are dismissed

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediaआयकर अपील सं./ Ita No. 2179 & 2180/Ahd/2016 "नधा"रण वष"/Assessment Year: 2007-08 & 2008-09

reassessment order under section 143(3) r.w.s. 147 of the Act. 5. Brief facts of the case are that the assessee-company had filed its return of income on 29.10.2007 and 28.9.2008 declaring total income at Rs.72,700/- and Rs.5,81,456/- in the Asstt.Year 2007-08 and 2008-09. The assessee company at the relevant time was engaged