SHAILESH SUBODHCHANDRA JHAVERI,AHMEDABAD vs. THE DY.CIT, CENTRAL CIRCLE-1(1), AHMEDABAD

In the result, the appeal of the assessee is dismissed for both the year under consideration

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

Short term capital gain wherein cash is received by him from various clients and against this cash he ides accommodation entries. The records of providing accommodation entries are maintained by SCS in vaeious excel sheets maintained in the name of intermediaries who have introduced clients to SCS. Perusal of these sheets and the statements of SCS and his employees establishes

THE ITO, WARD-1(2)(3), AHMEDABAD vs. SHRI MAHESH SOMABHAI PATEL, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

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

transfer in and out of shares, as also abstract of transactions furnished by stock exchange, Assessing Officer was not justified in treating capital gain arising from sale of shares as unexplained cash credit.” 8. The Co-ordinate Bench of this Tribunal in the case of ITO Vs. Shri Nileshkumar Dashratbhai Patel (in ITA No. 55/Ahd/2020 dated 16.08.2022) considered the very

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

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

price of this block was at Rs.5,13,883/-. The assessee has purchased this block along other family members, and was having 1/6th share. The AO has made addition of Rs.5,13,883/- on account of unexplained investment in block no.77. Similarly, the assessee has made addition of Rs.4,48,378/- on account of unexplained deposits in the bank account

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

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

price of this block was at Rs.5,13,883/-. The assessee has purchased this block along other family members, and was having 1/6th share. The AO has made addition of Rs.5,13,883/- on account of unexplained investment in block no.77. Similarly, the assessee has made addition of Rs.4,48,378/- on account of unexplained deposits in the bank account

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

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

price of this block was at Rs.5,13,883/-. The assessee has purchased this block along other family members, and was having 1/6th share. The AO has made addition of Rs.5,13,883/- on account of unexplained investment in block no.77. Similarly, the assessee has made addition of Rs.4,48,378/- on account of unexplained deposits in the bank account

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

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

price of this block was at Rs.5,13,883/-. The assessee has purchased this block along other family members, and was having 1/6th share. The AO has made addition of Rs.5,13,883/- on account of unexplained investment in block no.77. Similarly, the assessee has made addition of Rs.4,48,378/- on account of unexplained deposits in the bank account

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

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

price of this block was at Rs.5,13,883/-. The assessee has purchased this block along other family members, and was having 1/6th share. The AO has made addition of Rs.5,13,883/- on account of unexplained investment in block no.77. Similarly, the assessee has made addition of Rs.4,48,378/- on account of unexplained deposits in the bank account

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

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

price of this block was at Rs.5,13,883/-. The assessee has purchased this block along other family members, and was having 1/6th share. The AO has made addition of Rs.5,13,883/- on account of unexplained investment in block no.77. Similarly, the assessee has made addition of Rs.4,48,378/- on account of unexplained deposits in the bank account

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

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

price of this block was at Rs.5,13,883/-. The assessee has purchased this block along other family members, and was having 1/6th share. The AO has made addition of Rs.5,13,883/- on account of unexplained investment in block no.77. Similarly, the assessee has made addition of Rs.4,48,378/- on account of unexplained deposits in the bank account

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

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

price of this block was at Rs.5,13,883/-. The assessee has purchased this block along other family members, and was having 1/6th share. The AO has made addition of Rs.5,13,883/- on account of unexplained investment in block no.77. Similarly, the assessee has made addition of Rs.4,48,378/- on account of unexplained deposits in the bank account

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

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

price of this block was at Rs.5,13,883/-. The assessee has purchased this block along other family members, and was having 1/6th share. The AO has made addition of Rs.5,13,883/- on account of unexplained investment in block no.77. Similarly, the assessee has made addition of Rs.4,48,378/- on account of unexplained deposits in the bank account

HARSHADKUMAR HARGOVANDAS PATEL,KALOL vs. THE ITO, WARD-4, MEHSANA

In the result, the appeal of the assessee is allowed for statistical\npurposes

Term Capital Gains, had adopted the\nFair Market Value (FMV) as on 01.04.1981 at ₹250 per square meter based\non a detailed valuation report prepared by a Government-approved registered\nvaluer. The said report, containing all relevant details, was furnished before\nthe Assessing Officer and is placed at pages 61 to 76 of the paper book.\nDespite this, the Assessing

THE ACIT, CIRCLE-5,, AHMEDABAD vs. M/S. JUBILEE TRADELINK PVT. LTD., AHMEDABAD

In the result, the appeal of the Department is dismissed

Bench: Mrs. Annapurna Gupta & Shri Siddhartha Nautiyalिनधा"रणवष"/Assessment Year: 2008-09 Vs. M/S. Jubilee Tradelink Pvt. Ltd., The Acit, 9B, Bansidhar Apartments, Circle-5, Gyanganga Classes, Ahmedabad Jawaharnagar, Vasna, Ahmedabad Pan : Aabcj 0614 P अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" "" यथ" "" "" यथ" यथ"/ (Respondent) यथ" Assessee By : Shri S.N. Soparkar, Sr. Advocate & Shri Parin Shah, Ar Revenue By : Shri Ravindra, Sr Dr तारीख/Date Of Hearing : 08.05.2024 सुनवाई क" क" तारीख सुनवाई सुनवाई सुनवाई क" क" तारीख तारीख घोषणा क" क" तारीख तारीख /Date Of Pronouncement: 29.05.2024 घोषणा घोषणा घोषणा क" क" तारीख तारीख आदेश आदेश/O R D E R आदेश आदेश Per Siddhartha Nautiyal: This Appeal Has Been Filed By The Department Against The Order Of The Learned Commissioner Of Income-Tax (Appeals)-9, Ahmedabad [Hereinafter Referred To As "Cit(A)" For Short] Dated 05.01.2016, Passed Under Section 250(6) Of The Income Tax Act, 1961 [Hereinafter Referred To As "The Act" For Short], For The Assessment Year (Ay) 2008-09. 2. The Department Has Taken The Following Grounds Of Appeal:- “1. The Ld. Cit(A) Has Erred In Law & On Facts In Holding The Reassessment Proceedings As Void. 2. The Ld. Cit(A) Has Erred In Law & On Facts By Not Appreciating That The Assessment Was Reopened Within Four Years From The Relevant Assessment Year & The Issue Decided In Reassessment Proceedings Was Not Dealt With During Original Assessment Proceedings..

transfer of shares through the demat account and the why the transactions were not carried out on a stock exchange and that too at lower 3 ACIT Vs. Jubilee Tradelink Pvt. Ltd. AY : 2008-09 price than existing market price. Accordingly, the Assessing Officer disallowed the short-term capital loss of ₹30, 10,000/– and confirmed addition

ZYDUS LIFESCIENCES LIMITED (FORMERLY KNOWN AS CADILA HEALTHCARE LTD.),AHMEDABAD vs. THE DCIT, CIRCLE-1(1)(1), AHMEDABAD

In the result, appeal preferred by the assessee is allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./I.T.A. No. 162/Ahd/2021 ("नधा"रण वष" / Assessment Years : 2016-17)

short, the order passed by the Ld. TPO under Section 92CA(3) of the Act is barred by limitation and thus bad in law, without jurisdiction and therefore, liable to be quashed. Consequently, the entire transfer pricing adjustment proposed by the Learned TPO in individual transaction becomes non-est and to be quashed. Further that, as TPO’s order

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

short levy of taxes leading to loss to Revenue, and, therefore, the re-assessment order of the AO is erroneous and prejudicial to the interest of the revenue. Therefore, provisions of section 263 are applicable in this case. The ld. PCIT set aside the reassessment order passed by the AO, dated 30.03.2022 with the directions to the Assessing Officer

LALITA RAMNIRANJAN AGARWAL,VADODARA vs. THE INCOME TAX OFFICER, WARD-1(2)(4), VADODARA

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

Bench: Shri TR Senthil Kumar, Judicial Member\nAnd Shri Narendra Prasad Sinha, Accountant Member\nITA No. 662/Ahd/2023\nAssessment Year 2015-16\nLalita Ramniranjan Agarwal,\nB-201, Sandal Wood\nResidency, Urmi Char Rasta\nProductivity Road,\nVadodara-390020\nPAN: AECPA0173J\n(Appellant)\nThe ITO,\nWard-1(2)(4),\nVadodara\nVs\n(Respondent)\nAssessee by: Shri P.M. Jagasheth, A.R.\nRevenue by: Shri Nitin Vishnu Kulkarni, Sr. D.R.\nDate of hearing\n: 24-02-2025\nDate of pronouncement : 28-02-2025\nORD

term capital gains.\nSimilarly Hon'ble Supreme Court dismissed Revenue's SLP in the\ncase of PCIT vs. Renu Aggarwal [2023] 153 taxmann.com 579 (SC).\nThus Ld. Counsel relied upon various other case laws as cited in\nCase Laws Compilation:\n(i) Pr. CIT Vs. Kuntala Mohapatra [2024] 160 taxmann.com 608 (SC)\n(ii) Pr. CIT Vs. Kuntala Mohapatra

ITO, WARD-1(1)(3),, AHMEDABAD vs. M/S. ARDOR OVERSEAS PRIVATE LIMITED,, AHMEDABAD

Appeal of the assessee is allowed

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumaray Sl.

short term capital gains of Rs. 33,70,95,365/- from the sale of land as per the sale deed. However, in its return NPPL has claimed a bogus loss of Rs. 33,52,72,458/- in commodities and hence has wrongly neutralized any tax liability on sale of land. - NPPL had purchased the land from Sakar Co. Op. Housing

NIKSHAL POPERTIES PVT. LTD,VADODARA vs. THE ITO, WARD-3(1)(1),, AHMEDABAD

Appeal of the assessee is allowed

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumaray Sl.

short term capital gains of Rs. 33,70,95,365/- from the sale of land as per the sale deed. However, in its return NPPL has claimed a bogus loss of Rs. 33,52,72,458/- in commodities and hence has wrongly neutralized any tax liability on sale of land. - NPPL had purchased the land from Sakar Co. Op. Housing