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

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, 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

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

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

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

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

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

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

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

THE DCIT, CENTRAL CIRCLE-1(2), AHMEDABAD vs. M/S. STHAPATYA SHILP CONSTRUCTION, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No. 907/Ahd/2019 With C.O.No.170/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2010-2011 D.C.I.T., M/S. Sthapatya Shilp Construction, Central Circle-1(2), Vs. 2, Abhiraj Complex, Ahmedabad. 68-B, Swastic Society, Ahmedabad. Pan: Abffs2922P

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

ROBIN RAMAVTAR GOENKA,AHMEDABAD vs. THE ACIT, CENTRAL CIRCLE-1(2), AHMEDABAD

In the result, the appeal filed by the Revenue IT[SS]A Nos

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

256/- dehors any incriminating material found and seized during the course of search. It is observed that no live nexus with the incriminating material found during the course of search in the case of the appellant was established by AO related to the additions. 21. Aggrieved against the appellate orders Revenue are in appeal raising the following Grounds of Appeal

PROLIFE INDUSTRIES LTD.,ANKLESHWAR vs. THE ITO, WARD-3(1)(1), AHMEDABAD

In the result, the appeal filed by the Assessee in ITA No

1,26,00,000/-and interest of Rs. 11,78,713/-on it made by the Ld. A. O. by upholding the same by the Ld. CIT(A) looking to the merits of the case. [6] The appellant craves leave to add, amend, alter, edit, delete, modify or change all or any of the grounds of appeal at the time

PROLIFE INDUSTRIES LTD.,ANKLESHWAR vs. THE ITO, WARD-3(1)(1), AHMEDABAD

In the result, the appeal filed by the Assessee in ITA No

1,26,00,000/-and interest of Rs. 11,78,713/-on it made by the Ld. A. O. by upholding the same by the Ld. CIT(A) looking to the merits of the case. [6] The appellant craves leave to add, amend, alter, edit, delete, modify or change all or any of the grounds of appeal at the time

DEPUTY COMMISSIONER OF INCOME TAX (CENTRAL CIRCLE)-1(4), AHMEDABAD, AHMEDABAD vs. HINDVA BUILDERS, AHMEDABAD

In the result, all the four appeals of the Revenue are hereby dismissed

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinha

reassessment proceedings, the assessee had claimed that the total receipt of on-money cannot be considered as income and the income has to be considered at 15% of on-money receipt and it had declared more cash than such computed income in the IDS 2016 scheme and requested for telescoping of unaccounted cash expenses incurred by the assessee. However