VADODARA URBAN DEVELOPMENT AUTHORITY,VADODARA vs. THE ACIT, CIRCLE-2 (EXEMP), AHMEDABAD

In the result, the appeal of the Department is dismissed

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

68,86,980/ (c) BMC Development Charges Rs. 1,60,89,732/- (c) Amenities fees Rs. 9,43,69,008/- (d) Impact fees Rs. 13,88,880/- (e) Addition to Fixed Assets Rs. 36,66,427/- 4.1. The Assessing Officer further noticed that on verification of e-filing portal, it is noticed that the assessee trust has not filed Form

VADODARA URBAN DEVELOPMENT AUTHORITY,VADODARA vs. THE ACIT, CIRCLE-2 (EXEMP), AHMEDABAD

In the result, the appeal of the Department is dismissed

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

68,86,980/ (c) BMC Development Charges Rs. 1,60,89,732/- (c) Amenities fees Rs. 9,43,69,008/- (d) Impact fees Rs. 13,88,880/- (e) Addition to Fixed Assets Rs. 36,66,427/- 4.1. The Assessing Officer further noticed that on verification of e-filing portal, it is noticed that the assessee trust has not filed Form

VADODARA URBAN DEVELOPMENT AUTHORITY,VADODARA vs. THE ACIT, CIRCLE-2 (EXEMP), AHMEDABAD

In the result, the appeal of the Department is dismissed

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

68,86,980/ (c) BMC Development Charges Rs. 1,60,89,732/- (c) Amenities fees Rs. 9,43,69,008/- (d) Impact fees Rs. 13,88,880/- (e) Addition to Fixed Assets Rs. 36,66,427/- 4.1. The Assessing Officer further noticed that on verification of e-filing portal, it is noticed that the assessee trust has not filed Form

JT.CIT(E),CIRCLE -2 AHMEDABAD, AHMEDABAD vs. VADODARA URBAN DEVELOPMENT AUTHORITY , VADODARA

In the result, the appeal of the Department is dismissed

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

68,86,980/ (c) BMC Development Charges Rs. 1,60,89,732/- (c) Amenities fees Rs. 9,43,69,008/- (d) Impact fees Rs. 13,88,880/- (e) Addition to Fixed Assets Rs. 36,66,427/- 4.1. The Assessing Officer further noticed that on verification of e-filing portal, it is noticed that the assessee trust has not filed Form

JT.CIT(EXEMPTION)CIRCL-2 AHMEDABAD, AHMEDABAD vs. VADODARA URBAN DEVELOPMENT AUTHORITY, VADODARA

In the result, the appeal of the Department is dismissed

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

68,86,980/ (c) BMC Development Charges Rs. 1,60,89,732/- (c) Amenities fees Rs. 9,43,69,008/- (d) Impact fees Rs. 13,88,880/- (e) Addition to Fixed Assets Rs. 36,66,427/- 4.1. The Assessing Officer further noticed that on verification of e-filing portal, it is noticed that the assessee trust has not filed Form

VARUN SATYAPAL SINGHAL,VADODARA vs. THE INCOMETAX OFFICER, WARD-1(2)(3( NOW THE DCIT, CIRCLE-1(1)(1), VADODARA

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

Bench: Us, At The Outset, Ld. Counsel For The Assessee Submitted That He Shall Not Be Pressing For Ground Nos. 3, 4 & 5 Of His

253-257 of Paper Book). Accordingly, looking into the instant facts and circumstances of the case, we are of the considered view that the impugned disallowance is not liable to be sustained. 13. In the result, Ground no. 2 of the assessee’s appeal is allowed. 14. Ground No. 3 addition of Rs.46,79,882/- u/s 68

SANDEEP MOHANRAJ SINGHI,AHMEDABAD vs. ACIT, CIRCLE4(2), AHMEDABAD, AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinhaassessment Year: 2018-19

68 of I.T. Act, 1961, is not sustainable….” 11. The Revenue has been unable to controvert the findings of Ld. CIT(A) regarding the source of funds utilised by Arrow for acquisition of shares of the assessee trust. The assessee had not only established the genuineness of the transactions but also brought on record evidences to establish the creditworthiness

THE ASST. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1),, AHMEDABAD vs. EL DORADO BIOTECH PRIVATE LIMITED,, AHMEDABAD

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

2,91,48,000 Ltd. 4. S.J. Securities Ltd. AAICS9627C 7142 1,99,97,600 5. Incap Financial Services Ltd. AABCI0538B 7142 1,99,97,600 Total 106532 29,82,89,600 5. The assessee for the year under consideration filed its return of incomedeclaring total income at Rs. Nil dated 30th September 2009 which was processed under Section

ADANI ENTERPRISES LTD.,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, AHMEDABAD

Appeal of the Revenue is hereby dismissed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedasstt. Sr.No.

68. The assessee preferred an appeal before the learned CIT(A) and reiterated that the provisions of section 145A of the Act are not applicable on the CENVAT credit accrued on purchase of services. 69. The learned CIT(A) after considering the facts in totality deleted the addition made by the AO by following the order of this tribunal

THE ITO, WARD-1(1)(4),, AHMEDABAD vs. M/S. DHWANI INFRASTRUCTURE PVT. LTD.,, AHMEDABAD

In the result, both the appeal filed by revenue and cross objection filed by assessee are dismissed

68,35,2624/- to the assessee company which attracts the provision of section 2(22)(e) of the Act. At the assessment stage, the assessee has categorically explained after referring various judicial pronouncements that the amount received from J.P. Escon Ltd. cannot be taxed as deemed dividend in its hand as it was not the registered share holder

AURA SECURITIES PVT.LTD.,,AHMEDABAD vs. THE ACIT.,CIRCLE-1,, AHMEDABAD

In the result the appeal of the assessee is allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No.834/Ahd/2012 "नधा"रण वष"/Asstt. Year: 2008-2009 Dcit, Aura Securities Pvt. Ltd. Circle-1, V Akhay Building, B/H, Vadilal Ahmedabad. S. House, 53, Shrimali Society, Navrangpura, Ahmedabad-380009 Pan: Aabct4637N आयकर अपील सं./Ita No.986/Ahd/2012 िनधा"रण वष"/Asstt. Year: 2008-2009 Aura Securities Pvt. Ltd. Acit, Akhay Building, B/H, Vadilal Vs. Circle-1, House, 53, Shrimali Society, Ahmedabad. Navrangpura, Ahmedabad-380009 Pan: Aabct4637N

2) or 68 of the Act as the case may be. But there is no provision to tax the investment along with share premium amount in the hands of the payer or investor. It is an undisputed fact that the assessee has invested in AKAL by acquiring the shares at a premium. The act of acquiring the shares

AURA SECURITIES PVT. LTD.,AHMEDABAD vs. DY. COMMISSIONER OF INCOME TAX,, AHMEDABAD

In the result the appeal of the assessee is allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No.834/Ahd/2012 "नधा"रण वष"/Asstt. Year: 2008-2009 Dcit, Aura Securities Pvt. Ltd. Circle-1, V Akhay Building, B/H, Vadilal Ahmedabad. S. House, 53, Shrimali Society, Navrangpura, Ahmedabad-380009 Pan: Aabct4637N आयकर अपील सं./Ita No.986/Ahd/2012 िनधा"रण वष"/Asstt. Year: 2008-2009 Aura Securities Pvt. Ltd. Acit, Akhay Building, B/H, Vadilal Vs. Circle-1, House, 53, Shrimali Society, Ahmedabad. Navrangpura, Ahmedabad-380009 Pan: Aabct4637N

2) or 68 of the Act as the case may be. But there is no provision to tax the investment along with share premium amount in the hands of the payer or investor. It is an undisputed fact that the assessee has invested in AKAL by acquiring the shares at a premium. The act of acquiring the shares

ADANI AGRO PVT. LTD.,,AHMEDABAD vs. THE DY.CIT.,CIRCLE-1,, AHMEDABAD

In the result, the assessee appeal is thus allowed

Bench: Shri O. P. Meena& Ms. Madhumita Roy

2) or 68 of the Act as the case may be. But there is no provision to tax the investment along with share premium amount in the hands of the payer or investor. It is an undisputed fact that the assessee has invested in AKAL by acquiring the shares at a premium. The act of acquiring the shares

ACIT, CIRCLE-3(2), AHMEDABAD vs. M/S. KRAFT LAMINATE, AHMEDABAD

In the result, the appeal of the Revenue is partly allowed

Bench: Shri P.M. Jagtap, Vice- & Shri T.R. Senthil Kumarassessment Years : 2015-16 Assistant Commissioner Of M/S. Kraft Laminate, Income-Tax, Vs C/O. Laxmi Timber, Nr. Circle 3(2), Ahmedabad Mahalaxmi Textile Mill, Opp. Rajbai Patel Timber Market, Narol Naroda Highway, Narol, Ahmedabad-382405 Pan : Aamfk 8120 F अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Revenue By : Shri V.K. Singh, Sr. Dr Assessee By : Shri Manish J. Shah, Advocate सुनवाई क" तार"ख/Date Of Hearing : 24/02/2022 घोषणा क" तार"ख /Date Of Pronouncement: 16/03/2022 आदेश/O R D E R Per P.M. Jagtap, Vice-:

2 DINESHBHAI HARIBHAI PATEL (HUF) ARJPP3870H 200000.00 LOAN GIVEN VIA CHEQUE FROM OWN BANK ADD: 16, BASHIDHAR SOC. NR. ACCOUNT. PAN CARD AND ITR ARE ON FILE AND BANSHIDHAR GARDEN, VASNA, THUS SOURCE OF IMCOME BEING BUSINESS INCOME AHMEDABAD - 380007 AND LOAN AMOUNT GIVEN IS VERIFIED HEREWITH 3 KIREN PRAVINBHAI PATEL, ARJPP3870H 250000.00 LOAN GIVEN VIA CHEQUE FROM OWN BANK

DCIT, CENTRAL CIRCLE-2, VADODARA vs. NEOTECH EDUCATION FOUNDATION, VADODARA

68 to 69D of the Act. As such, it is the onus of the revenue to bring out the necessary evidence to hold that the assessee has made investments in the impugned land which is unexplained under the provisions of section 69B of the Act. Likewise, the contents of the email having attachments of page 157 and 158 were

SHRI PRAVINCHANDRA R PATEL,VADODARA vs. DCIT, CENTRAL CIRCLE-2, VADODARA

68 to 69D of the Act. As such, it is the onus of the revenue to bring out the necessary evidence to hold that the assessee has made investments in the impugned land which is unexplained under the provisions of section 69B of the Act. Likewise, the contents of the email having attachments of page 157 and 158 were

DCIT, CENTRAL CIRCLE-2, VADODARA vs. NEOTECH EDUCATION FOUNDATION, VADODARA

68 to 69D of the Act. As such, it is the onus of the revenue to bring out the necessary evidence to hold that the assessee has made investments in the impugned land which is unexplained under the provisions of section 69B of the Act. Likewise, the contents of the email having attachments of page 157 and 158 were

THE DY.CIT, CENTRAL CIRCLE-1, VADODARA vs. PAWAN EDIFICE PVT. LTD., VADODARA

Appeals are partly allowed for\nstatistical reasons

68,995/-\nTotal Own Funds (a + b)\n19,52,09,835/-\n20,76,83,195/-\n18.\nIt was thus urged that, in view of the availability of substantial own\nfunds and the binding judicial precedents, the disallowance sustained by\nthe CIT(A) under section 14A ought to be deleted in full.\n19.\nWith regard to the disallowance of administrative

SMT. PARAMADEVI TEKRIWAL, ,BHAVNAGAR vs. THE ITO, WARD-1(5),, BHAVNAGAR

In the result, the appeal of the assessee is dismissed

Bench: Shri P.M. Jagtap, Vice- & Ms. Madhumita Royassessment Year : 2013-14 Smt. Paramadevi Tekriwal, The Income-Tax Officer, D-143, Kaliyabid, Bhavnagar Vs Ward 1(5), Pan : Addpt 3030 F Bhavnagar अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : None Revenue By : Shri Rakesh Jha, Sr. Dr सुनवाई क" तार"ख/Date Of Hearing : 17/10/2022 घोषणा क" तार"ख /Date Of Pronouncement: 17/10/2022 आदेश/O R D E R Per P.M. Jagtap, Vice-: This Appeal Filed By The Assessee Is Directed Against The Order Of The Learned Commissioner Of Income-Tax (Appeals)-6, Ahmedabad (“Cit(A)” In Short) Dated 09.07.2018. 2. The Relevant Facts Of The Case Giving Rise To This Appeal Are That The Assessee Is An Individual Who Filed Her Return Of Income For The Year Under Consideration Originally On 16.03.2014. Although The Said Return Was Originally Accepted Under Section 143(1) Of The Income-Tax Act, 1961 (“The Act” In Short), The Assessment Was Subsequently Reopened By The Assessing Officer On The Basis Of Information Received From Investigation Wing Of The Income-Tax Department That The Long Term Capital Gains Of Rs.1,13,53,982/- Arising From The Sale Of Equity Shares Of Kgn Enterprise Ltd. For A Consideration Of Rs.1,13,87,902/- Claimed As Exempt In The Return Of Income Was Bogus & It Was Actually An Accommodation Entry. The Assessing Officer Accordingly Issued A Notice Under Section 148 Of The Act To Smt. Paramadevi Tekriwal Vs. Ito Ay : 2013-14 2

2) It was during such discussion at a party that it was suggested by someone, who might be having some inside information about the company or may be some expert in stock market, that good returns are expected if we make investment in shares of KGN Enterprise Limited. It was on this suggestion that we decided to make a small