DARED SEVA SAHKARI MANDALI LIMITED,BHAVANAGAR vs. ITO, WARD-1(1), BHAVNAGAR

In the result, appeal of the assessee in ITA no

Bench: Income Tax Appellate Tribunal, Ahmedabad Bench, Ahmedabad Has Arisen From The Separate Appellate

business of credit co-operative society that is accepting deposit from members as well as taking loan from co- operative banks and providing credit facilities to its members during the year under consideration. The assessee is also selling fertilizer, pesticides and seeds to farmers for agricultural activity. The Assessing Officer assessed income u/s. 147 r.w.s. 144B of the Act assessing

ARCOY INDUSTRIES (INDIA) PRIVATE LIMITED,AHMEDABAD vs. THE DCIT, CIRCLE-1(1)(1), AHMEDABAD

In the result, all the captioned four appeals of the assessee are hereby allowed

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinha

147 as valid when reassessment proceedings cannot be conducted on the basis of search conducted in case of third party more particularly when no details related to appellant are found therein. The Ld CIT(A) ought to have treated notice u/s ITA Nos.424, 425, 426 and 427/Ahd/2024 Arcoy Industries (India

ARCOY INDUSTRIES (INDIA) PRIVATE LIMITED,AHMEDABAD vs. THE DCIT, CIRCLE-1(1)(1), AHMEDABAD

In the result, all the captioned four appeals of the assessee are hereby allowed

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinha

147 as valid when reassessment proceedings cannot be conducted on the basis of search conducted in case of third party more particularly when no details related to appellant are found therein. The Ld CIT(A) ought to have treated notice u/s ITA Nos.424, 425, 426 and 427/Ahd/2024 Arcoy Industries (India

ARCOY INDUSTRIES (INDIA) PRIVATE LIMITED,AHMEDABAD vs. THE DCIT, CIRCLE-1(1)(1), AHMEDABAD

In the result, all the captioned four appeals of the assessee are hereby allowed

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinha

147 as valid when reassessment proceedings cannot be conducted on the basis of search conducted in case of third party more particularly when no details related to appellant are found therein. The Ld CIT(A) ought to have treated notice u/s ITA Nos.424, 425, 426 and 427/Ahd/2024 Arcoy Industries (India

ARCOY INDUSTRIES (INDIA) PRIVATE LIMITED,AHMEDABAD vs. THE DCIT, CIRCLE-1(1)(1), AHMEDABAD

In the result, all the captioned four appeals of the assessee are hereby\nallowed

147 as valid\nwhen reassessment proceedings cannot be conducted on the basis of search\nconducted in case of third party more particularly when no details related to\nappellant are found therein. The Ld CIT(A) ought to have treated notice u/s\nITA Nos.424, 425, 426 and 427/Ahd/2024\nArcoy Industries (India) P. Ltd.\nAYs

PATEL AMBALAL LAXMANDAS NI CO.,AHMEDABAD vs. THE ACIT, CENTRAL CIRCLE-2(3), AHMEDABAD

In the result, all the appeals filed by the Assessee are hereby dismissed

business premises of the assessee firm on 02/11/2015. During the survey proceedings, several documents, note books/loose papers files/ booking receipt books etc. were found and impounded as per Annexure A-1 to A-32. In view of the survey and incriminating materials found, the case of the assessee firm were reopened u/s. 147 of the act by issuing Notice u/s

PATEL AMBALAL LAXMANDAS NI CO.,AHMEDABAD vs. THE ACIT, CENTRAL CIRCLE-2(3), AHMEDABAD

In the result, all the appeals filed by the Assessee are hereby dismissed

business premises of the assessee firm on 02/11/2015. During the survey proceedings, several documents, note books/loose papers files/ booking receipt books etc. were found and impounded as per Annexure A-1 to A-32. In view of the survey and incriminating materials found, the case of the assessee firm were reopened u/s. 147 of the act by issuing Notice u/s

PATEL AMBALAL LAXMANDAS NI CO.,AHMEDABAD vs. THE ACIT, CENTRAL CIRCLE-2(3), AHMEDABAD

In the result, all the appeals filed by the Assessee are hereby dismissed

business premises of the assessee firm on 02/11/2015. During the survey proceedings, several documents, note books/loose papers files/ booking receipt books etc. were found and impounded as per Annexure A-1 to A-32. In view of the survey and incriminating materials found, the case of the assessee firm were reopened u/s. 147 of the act by issuing Notice u/s

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

reassess the total income, where search is conducted u/s 132 which is further evidenced by amendment bythe Finance Act, 2017 w.e.f. 01.04.2017 that inserted 4th proviso to section 153A read with explanation 1, the expression "relevant assessment year" that means an assessment year which falls beyond six assessment years but not later than ten assessment years from

SAGAR RAJESH JHAVERI,AHMEDABAD vs. THE DY.CIT, CENT. CIRCLE-1(1), AHMEDABAD

In the result, all the four appeals of respective assessees are partly allowed

Bench: Ms. Suchitra Kamble (Judicial Member), Shri Makarand V. Mahadeokar (Accountant Member)

income as per Assessing Officer’s belief. The contention of the ld. A.R. is that he was not given cross-examination of the persons whose statement was recorded and relied upon is also does not stand as the Assessing Officer issued the notice u/s. 148 and initiated proceedings u/s. 147 and given independent findings which was not wholly and solely

AARAV FINANCIAL SERVICES PVT. LTD.,AHMEDABAD vs. THE DY. CIT, CENT. CIRCLE-1(1), AHMEDABAD

In the result, all the four appeals of respective assessees are partly allowed

Bench: Ms. Suchitra Kamble (Judicial Member), Shri Makarand V. Mahadeokar (Accountant Member)

income as per Assessing Officer’s belief. The contention of the ld. A.R. is that he was not given cross-examination of the persons whose statement was recorded and relied upon is also does not stand as the Assessing Officer issued the notice u/s. 148 and initiated proceedings u/s. 147 and given independent findings which was not wholly and solely

VICKY RAJESH JHAVERI,AHMEDABAD vs. THE DY. CIT, CENT. CIRCLE-1(1), AHMEDABAD

In the result, all the four appeals of respective assessees are partly allowed

Bench: Ms. Suchitra Kamble (Judicial Member), Shri Makarand V. Mahadeokar (Accountant Member)

income as per Assessing Officer’s belief. The contention of the ld. A.R. is that he was not given cross-examination of the persons whose statement was recorded and relied upon is also does not stand as the Assessing Officer issued the notice u/s. 148 and initiated proceedings u/s. 147 and given independent findings which was not wholly and solely

VICKY RAJESH JHAVERI,AHMEDABAD vs. THE DY.CIT, CENT. CIRCLE-1(1), AHMEDABAD

In the result, all the four appeals of respective assessees are partly allowed

Bench: Ms. Suchitra Kamble (Judicial Member), Shri Makarand V. Mahadeokar (Accountant Member)

income as per Assessing Officer’s belief. The contention of the ld. A.R. is that he was not given cross-examination of the persons whose statement was recorded and relied upon is also does not stand as the Assessing Officer issued the notice u/s. 148 and initiated proceedings u/s. 147 and given independent findings which was not wholly and solely

OVEZ ARIFBHAI LAKHANI,BHAVNAGAR vs. THE PR. CIT, AHMEDABAD-1, AHMEDABAD

In the result, the appeal of the assessee is dismissed

Bench: Income Tax Appellate Tribunal, Ahmedabad Benches, Has Arisen From The Revisionary Order Dated 12.03.2024 Passed By Ld. Principal

147 on the basis of investigation wing report that the said company KDJHRL is a penny stock company. It was submitted that the there was no adverse comments by the Assessing Officer during the course of reassessment proceedings, and the returned income was accepted. The assessee has given reply before the Assessing Officer along with contract note, bank statement

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

business of builders and property developers, and bringing the same to lax in the hands of the assessee under ihe head ,,Income from house property". We thus in terms of our aforesaid observations set aside the order of the CIT(A). 11. The appeal of the assessee is allowed. 7.2. In view of the aforesaid observations and respectfully following

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

business of builders and property developers, and bringing the same to lax in the hands of the assessee under ihe head ,,Income from house property". We thus in terms of our aforesaid observations set aside the order of the CIT(A). 11. The appeal of the assessee is allowed. 7.2. In view of the aforesaid observations and respectfully following

CHANDRAKANT GORDHANBHAI PATEL HUF ,DABHOI vs. THE DY. COMMISSIONER OF INCOME TAX CIRCLE-1(3), VADODARA, VADODARA

In the result, appeal of the assessee in ITA no

Bench: The Final Hearing Of This Appeal Petition…”

147 on the grounds that there is a factual error in reopening proceedings as the assessee has duly filed its return of income u/s 139, while AO reopened the assessment on the premise that no return of income was originally filed u/s 139. It is also claimed that the interest on enhanced compensation of agricultural land was granted by Government

LALITABEN DIPAKBHAI MODH,SURAT vs. PCIT-3, AHMEDABAD, AHMEDABAD

In the result, the appeal filed by the Assessee is hereby allowed

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

147 r.w.s 144 of the I. T. Act, 1961 was neither erroneous nor prejudicial to the interest of the revenue. 2. On the facts and in circumstances of the case as well as law on the subject, the learned Pr. CIT has erred in setting aside the assessment with the direction to pass fresh assessment order after treating the entire

ANISH RAJNIKANT SHAH,AHMEDABAD, GUJARAT vs. INCOME TAX OFFICER, AHMEDABAD, GUJARAT

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

Bench: Shri Ramit Kochar (Accountant Member)

income was filed on 06.12.2018, and the AO passed reassessment order on 07.12.2018 u/s 143(3) read with Section 147, although notice u/s 148 was issued by AO on 29.03.2018. The assessee could not give any explanation/evidences before the AO regarding the business