JOSHI TECHNOLOGIES INTERNATIONAL INC.,,AHMEDABAD vs. THE ADIT.,(INTNL.TAXN.), AHMEDABAD

In the result appeal of the assessee is allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedassessment Year : 2003-04 Joshi Technologies International Inc., Asst. Commissioner Of Income- 402, Heritage, Off. Ashram Road, Vs Tax (International Taxation), Usmanpura, Ahmedabad Ahmedabad Pan : Aaacj 9592 P Assessment Year : 2006-07 Joshi Technologies International Inc., Dy. Commissioner Of Income- 701, Parshwanath E Square, Vs Tax (International Taxation-1), Prahladnagar Garden, Near Titanium Ahmedabad Building, Satellite, Ahmedabad Pan : Aaacj 9592 P अपीलाथ"/ (Appellant) "त् यथ"/ (Respondent) Assessee By : Shri S.N. Soparkar, Sr. Advocate With Shri Yogesh G. Shah, Ar Revenue By : Shri Alok Kumar, Cit-Dr & Shri Atul Pandey, Sr Dr सुनवाई क" तार"ख/Date Of Hearing : 02/08/2022 घोषणा क" तार"ख /Date Of Pronouncement: 17/08/2022 आदेश/O R D E R Per Waseem Ahmed, Am : These Are The Appeals Filed By The Assessee Against Two Separate Orders Of The Learned Commissioner Of Income Tax (Appeals), Gandhinagar Dated 12.01.2010 & Learned Commissioner Of Income-Tax (Appeals)-13, Ahmedabad Dated 29.05.2015 Passed For Assessment Years 2003-04 & 2006-07 Respectively.

reassessment proceeding within four year from the end of the assessment year. It is submitted it be so held now. 4. The CIT(A) erred in disallowing claim of deduction under section 42

JOSHI TECHNOLOGIES INTERNATIONAL INC.,,AHMEDABAD vs. THE ASSTT. DIT, (INTL. TAXN.),, AHMEDABAD

In the result appeal of the assessee is allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedassessment Year : 2003-04 Joshi Technologies International Inc., Asst. Commissioner Of Income- 402, Heritage, Off. Ashram Road, Vs Tax (International Taxation), Usmanpura, Ahmedabad Ahmedabad Pan : Aaacj 9592 P Assessment Year : 2006-07 Joshi Technologies International Inc., Dy. Commissioner Of Income- 701, Parshwanath E Square, Vs Tax (International Taxation-1), Prahladnagar Garden, Near Titanium Ahmedabad Building, Satellite, Ahmedabad Pan : Aaacj 9592 P अपीलाथ"/ (Appellant) "त् यथ"/ (Respondent) Assessee By : Shri S.N. Soparkar, Sr. Advocate With Shri Yogesh G. Shah, Ar Revenue By : Shri Alok Kumar, Cit-Dr & Shri Atul Pandey, Sr Dr सुनवाई क" तार"ख/Date Of Hearing : 02/08/2022 घोषणा क" तार"ख /Date Of Pronouncement: 17/08/2022 आदेश/O R D E R Per Waseem Ahmed, Am : These Are The Appeals Filed By The Assessee Against Two Separate Orders Of The Learned Commissioner Of Income Tax (Appeals), Gandhinagar Dated 12.01.2010 & Learned Commissioner Of Income-Tax (Appeals)-13, Ahmedabad Dated 29.05.2015 Passed For Assessment Years 2003-04 & 2006-07 Respectively.

reassessment proceeding within four year from the end of the assessment year. It is submitted it be so held now. 4. The CIT(A) erred in disallowing claim of deduction under section 42

YAKIN JAYANTILAL SHAH,AHMEDABAD vs. ITO, WARD2(1)(1), AHMEDABAD, AHMEDABAD

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

reassessment proceedings. 4.3 In the absence of any explanation or documentary evidence, the AO proceeded to complete the assessments ex parte under section 147 r.w.s. 144 read with section 144B of the Act, treating the cash deposits appearing in the information report as unexplained money under section 69A. The entire deposits were added to the total income, without allowing

YAKIN JAYANTILAL SHAH,AHMEDABAD vs. ITO, WARD 2(1)(1), AHMEDABAD, AHMEDABAD

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

reassessment proceedings. 4.3 In the absence of any explanation or documentary evidence, the AO proceeded to complete the assessments ex parte under section 147 r.w.s. 144 read with section 144B of the Act, treating the cash deposits appearing in the information report as unexplained money under section 69A. The entire deposits were added to the total income, without allowing

YAKIN JAYANTILAL SHAH,AHMEDABAD vs. ITO, WARD 2(1)(1), AHMEDABAD, AHMEDABAD

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

reassessment proceedings. 4.3 In the absence of any explanation or documentary evidence, the AO proceeded to complete the assessments ex parte under section 147 r.w.s. 144 read with section 144B of the Act, treating the cash deposits appearing in the information report as unexplained money under section 69A. The entire deposits were added to the total income, without allowing

YAKIN JAYANTILAL SHAH,AHMEDABAD vs. ITO, WARD 2(1)(1), AHMEDABAD, AHMEDABAD

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

reassessment proceedings. 4.3 In the absence of any explanation or documentary evidence, the AO proceeded to complete the assessments ex parte under section 147 r.w.s. 144 read with section 144B of the Act, treating the cash deposits appearing in the information report as unexplained money under section 69A. The entire deposits were added to the total income, without allowing

YAKIN JAYANTILAL SHAH,AHMEDABAD vs. ITO, WARD 2(1)(1), AHMEDABAD, AHMEDABAD

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

reassessment proceedings. 4.3 In the absence of any explanation or documentary evidence, the AO proceeded to complete the assessments ex parte under section 147 r.w.s. 144 read with section 144B of the Act, treating the cash deposits appearing in the information report as unexplained money under section 69A. The entire deposits were added to the total income, without allowing

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% of bogus sales on machinery) Rs.23

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% of bogus sales on machinery) Rs.23

SHREE RAMA MULTI-TECH LTD.,,AHMEDABAD vs. THE DY.CIT.,CRCLE-8,, AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

reassessment are satisfied, is only relatable to the preceding expression in clauses (a) and (b) viz., 'escaped assessment'. The term 'escaped assessment' includes both 'non- assessment' as well as 'under assessment'. Income is said to have 'escaped assessment' within the meaning of this section when it has not been charged in the hands of an assessee in the relevant year

SHREE RAMA MULTI-TECH LTD.,,AHMEDABAD vs. THE ACIT(OSD) CIRCLE-8, AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

reassessment are satisfied, is only relatable to the preceding expression in clauses (a) and (b) viz., 'escaped assessment'. The term 'escaped assessment' includes both 'non- assessment' as well as 'under assessment'. Income is said to have 'escaped assessment' within the meaning of this section when it has not been charged in the hands of an assessee in the relevant year

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 proceedings. However, it is an admitted position that the AO did not carry out any independent verification of these materials—no enquiries were made under section 133(6), nor were the creditors summoned under section 131 to verify their creditworthiness or the genuineness of the transactions. 41. The learned CIT(A) accepted the explanation of the assessee and held

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

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

reassessment proceedings. However, it is an admitted position that the AO did not carry out any independent verification of these materials—no enquiries were made under section 133(6), nor were the creditors summoned under section 131 to verify their creditworthiness or the genuineness of the transactions. 41. The learned CIT(A) accepted the explanation of the assessee and held

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

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

reassessment proceedings. However, it is an admitted position that the AO did not carry out any independent verification of these materials—no enquiries were made under section 133(6), nor were the creditors summoned under section 131 to verify their creditworthiness or the genuineness of the transactions. 41. The learned CIT(A) accepted the explanation of the assessee and held

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

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

reassessment proceedings. However, it is an admitted position that the AO did not carry out any independent verification of these materials—no enquiries were made under section 133(6), nor were the creditors summoned under section 131 to verify their creditworthiness or the genuineness of the transactions. 41. The learned CIT(A) accepted the explanation of the assessee and held

SHRI ANILBHAI HIRALAL SHAH,AHMEDABAD vs. DCIT, CENTRAL CIRCLE-1(2), AHMEDABAD

In the result the appeal filed by the Revenue is dismissed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

reassessment proceeding after expiry of 4 years from the end of relevant assessment year. 13.5 In addition to the above it is equally important to note that the AO at the time of recording the reasons to believe for issuing notice under section 148 of the Act was not in possession of the return of income. Thus in the absence

NIKULBHAI CHATURBHAI PATEL, HUF,GANDHINAGAR vs. THE ITO, WARD-4(2)(3), AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

reassessment notice issued u/s. 148 of the Act is bad in law and deserves to be quashed. 2. The appellant craves to leave, to add, to amend or to raise any further grounds of appeal as case may raise.” 16. The brief facts of the case are that the assessee filed its return of income for the Assessment Year

INCOME TAX WARD 4(2)(3) AHMEDABAD, AHMEDABAD vs. NIKULBHAI CHATURBHAI PATEL HUF, GANDHINAGAR

In the result, the appeal of the assessee is allowed

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

reassessment notice issued u/s. 148 of the Act is bad in law and deserves to be quashed. 2. The appellant craves to leave, to add, to amend or to raise any further grounds of appeal as case may raise.” 16. The brief facts of the case are that the assessee filed its return of income for the Assessment Year

NIKULBHAI CHATURBHAI PATEL, HUF,GANDHINAGAR vs. THE ITO, WARD-4(2)(3), AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

reassessment notice issued u/s. 148 of the Act is bad in law and deserves to be quashed. 2. The appellant craves to leave, to add, to amend or to raise any further grounds of appeal as case may raise.” 16. The brief facts of the case are that the assessee filed its return of income for the Assessment Year