AMIT GIRDHARBHAI PATEL,VADODARA vs. THE ACIT, CIRCLE-1(1)(1), VADODARA

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

reassessment order passed under section 143(3) r.w.s. 147 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) relating to the Assessment Year 2012-13. I.T.A No. 811/Ahd/2024 A.Y. 2012-13 Page No 2 Amit Girdharbhai Patel vs. ACIT 2. Brief facts of the case is that the assessee is an individual filed his Return of Income

ANILKUMAR DWARKAPRASAD MODANI,AHMEDABAD vs. THE DY. CIT, CIRCLE-2(1)(1)(PREVIOUSLY DY.CIT, CIRCLE-3(1)), VADODARA

In the result, the appeal of the assessee is treated as allowed for statistical purposes

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita No.1572/Ahd/2024 िनधा"रण वष" /Assessment Year : 2013-14 Anilkumar Dwarkaprasad Modani The Dy.Cit बनाम/ A-17, Videocon Housing Colony Circle-2(1)(1) V/S. Chavaj, Bharuch 392 002 Vadodara (Gujarat) "थायी लेखा सं./Pan:Acnpm 0273 C अपीलाथ&/ (Appellant) '( यथ&/ (Respondent) Assessee By : Shri Hemant Suthar, Ar Revenue By : Shri Surendra Kumar, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 12/11/2024 घोषणा की तारीख /Date Of Pronouncement: 21/11/2024 आदेश/O R D E R Per Makarand V. Mahadeokar, Am: This Appeal By The Assessee Is Directed Against The Order Dated 26/12/2023 Passed By The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi [Hereinafter Referred To As “Cit(A)”] For The Assessment Year (Ay) 2013-14, In Which The Addition Made By The Assessing Officer [Hereinafter Referred To As “Ao)”] Under Section 50C Of The Income Tax Act, 1961 [Hereinafter Referred To As “The Act”] Was Confirmed Vide Assessment Order Dated 28/03/2016. Facts Of The Case: 2. The Assessee, An Individual Earning Income From Salaries, Trading In Shares & Securities, Capital Gains & Other Sources, Filed His Return Of Anilkumar Dwarkaprasad Modani Vs. The Dcit Asst. Year : 2013-14

Section 50C(2) of the Act. 2. Upon receipt of the DVO report, the AO shall reconsider the addition of Rs.54,99,196/-, taking into account the fair market value as determined by the DVO rather than relying solely on the stamp duty valuation. 3. The AO shall afford the assessee an adequate opportunity of being heard during this reassessment

DILIP MOHANDAS DEVANI,VADODARA vs. INCOME TAX OFFICER, WARD-1(2)(1), VADODARA

In the result, the appeal of the assessee is partly allowed for statistical purposes, in terms of our above directions

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

section Dilip Mohandas Devani vs. ITO Asst. Year –2012-13 - 3– 50C of the Income-tax Act (Act), the stamp duty value must be adopted as the full value of consideration for computing capital gains. The assessee had not filed his return of income for A.Y. 2012–13. Accordingly, reassessment

BHUPENDRABHAI BHIKHABHAI PATEL,ANAND vs. THE ITO, WARD-3, ANAND

In the result, the appeal of the assessee is allowed for statistical purposes, in the interests of justice

reassessment proceedings,\nthe assessee was issued several notices under Section 142(1) of the Act calling\nfor details of the sale transaction, computation of capital gains, and supporting\ndocuments. In response, the assessee initially contended that he had purchased\nagricultural land on 12.04.2010 for Rs.4,03,650/- and sold the same on\n05.07.2011 for Rs.10,00,000/-. The assessee argued

RAJESHBHAI BHAGWANDAS PATEL,VADODARA vs. INCOME TAX OFFICER, WARD 5 (3) (2), AHMEDABAD

In the result, the appeal of the assessee is allowed on the ground of lack of jurisdiction, and the assessment order is quashed

Bench: Ms.Suchitra R. Kamble & Shri Makarand V.Mahadeokarasstt.Year : 2012-13

50C and treated the jantri value as the full value of consideration, further computing the entire amount as long-term capital gain under section 48 by taking cost of acquisition and cost of improvement as nil, since no evidence had been furnished by the assessee during the assessment proceedings. The reassessment

THE ACIT, CIRCLE-1, BHAVNAGAR vs. SHRI VALLABHBHAI DHANJIBHAI PATEL, BHAVNAGAR

In the result the appeal filed by the Revenue is hereby dismissed

Bench: The Tribunal On

reassessment order passed under section 143(3) r.w.s. 147 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) relating to the Assessment Year 2012-13. 2. The registry has noted that there is a delay of 34 days in filing the above appeal. This appeal is filed before the Tribunal on I.T.A No. 07/Ahd/2021

PRAVINBHAI LADHABHAI PATEL,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-4(2)(4), AHMEDABAD

In the result, the appeal of the assessee is allowed for statistical purpose

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinha

reassessment notice under Section 147 in as much as there was no tangible material or any other evidences for the purpose of Assessing Officer to form a view about reason to believe and that there is no escapement of income and therefore the notice issued is bad in law. 1.1 The appellant says and submits that the reasons given

RINKI SHASHIKANT GANDHI,VADODARA vs. ACIT, CIRCLE-2(1)(2), VADODARA

In the result, the appeal of the assessee is dismissed

Bench: Dr. Brr Kumar & Ms. Suchitra Kambleassessment Year 2011-12

Section 50C without issuing proper notice or providing an opportunity for the appellant to submit a valuation report. Ground 4 Ld. CIT (A) erred in holding that sale consideration was not paid in 2005. Ld. CIT (A) ignored the sale deed dtd. 09/02/2005 wherein page 9 & 10 clearly mention payment cheque number and amount of Rs. 24,00,000/- paid

VASANTIBEN CHIMANBHAI PATEL,PATAN vs. THE DY.CIT, CIRCLE PALANPUR, PALANPUR

In the result, the appeal filed by the Assessee is allowed for statistical purpose

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

Section 50C arise. The Assessing Officer held that no opening stock of land or closing stock of land shown by the assessee in the Return of Income, therefore the claim of business income was rejected and difference in sale consideration and assessee’s 15% share of Rs. 63,53,312/- is added u/s. 50C of the Act and demanded

SHRI ROHITJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

reassessment was pending on the date of initiation of search under section 132 or making of requisition under section 132A, while computing the total income of the assessee under section 153A of the Act, additions or disallowances can be made only on the basis of the incriminating material found during the search or requisition. In the present case

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

reassessment was pending on the date of initiation of search under section 132 or making of requisition under section 132A, while computing the total income of the assessee under section 153A of the Act, additions or disallowances can be made only on the basis of the incriminating material found during the search or requisition. In the present case

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

reassessment was pending on the date of initiation of search under section 132 or making of requisition under section 132A, while computing the total income of the assessee under section 153A of the Act, additions or disallowances can be made only on the basis of the incriminating material found during the search or requisition. In the present case

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

reassessment was pending on the date of initiation of search under section 132 or making of requisition under section 132A, while computing the total income of the assessee under section 153A of the Act, additions or disallowances can be made only on the basis of the incriminating material found during the search or requisition. In the present case

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

reassessment was pending on the date of initiation of search under section 132 or making of requisition under section 132A, while computing the total income of the assessee under section 153A of the Act, additions or disallowances can be made only on the basis of the incriminating material found during the search or requisition. In the present case

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

reassessment was pending on the date of initiation of search under section 132 or making of requisition under section 132A, while computing the total income of the assessee under section 153A of the Act, additions or disallowances can be made only on the basis of the incriminating material found during the search or requisition. In the present case

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

reassessment was pending on the date of initiation of search under section 132 or making of requisition under section 132A, while computing the total income of the assessee under section 153A of the Act, additions or disallowances can be made only on the basis of the incriminating material found during the search or requisition. In the present case

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

reassessment was pending on the date of initiation of search under section 132 or making of requisition under section 132A, while computing the total income of the assessee under section 153A of the Act, additions or disallowances can be made only on the basis of the incriminating material found during the search or requisition. In the present case

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

reassessment was pending on the date of initiation of search under section 132 or making of requisition under section 132A, while computing the total income of the assessee under section 153A of the Act, additions or disallowances can be made only on the basis of the incriminating material found during the search or requisition. In the present case