RAJKOT NAGRIK SAHAKARI BANK LTD.,,RAJKOT-GUJARAT vs. THE ASSTT. COMMR. OF INCOME TAX, CIR.-2(1),, RAJKOT-GUJARAT

In the result, the appeal of the assessee is allowed

section 143(3) r.w.s. 147 of the Income Tax Act, 1961; in short “the Act”. 2. The assessee has raised the following grounds of appeal:- I.T.A No. 121/Rjt/2017 A.Y. 2009-10 Page No 2 Rajkot Nagrik Sahakari Bank Ltd. vs. ACIT “01. That the Learned C.I.T. (A) 2, Rajkot has grievously erred in confirming that the reassessment proceedings

KANDLA TRUST PORT, SUPERNUATION SCHEAME,,GANDHIDHAM vs. THE INCOME TAX OFFICER, WARD-1,, GANDHIDHAM-KUTCH

In the result, impugned notice is quashed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

section 50C of the Act. The reasons recorded nowhere mentioned this possibility. Reasons recorded, in fact, ignored the fact that the sale consideration as per the sale deed was Rs.50 lakhs and that the assessee had by filing the return offered his share of such proceeds by way of capital gain. 13. In the result, impugned notice is quashed. Petition

KANDLA TRUST PORT, SUPERNUATION SCHEAME,,GANDHIDHAM vs. THE INCOME TAX OFFICER, WARD-1,, GANDHIDHAM-KUTCH

In the result, impugned notice is quashed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

section 50C of the Act. The reasons recorded nowhere mentioned this possibility. Reasons recorded, in fact, ignored the fact that the sale consideration as per the sale deed was Rs.50 lakhs and that the assessee had by filing the return offered his share of such proceeds by way of capital gain. 13. In the result, impugned notice is quashed. Petition

KANDLA TRUST PORT, SUPERNUATION SCHEAME,,GANDHIDHAM vs. THE INCOME TAX OFFICER, WARD-1,, GANDHIDHAM-KUTCH

In the result, impugned notice is quashed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

section 50C of the Act. The reasons recorded nowhere mentioned this possibility. Reasons recorded, in fact, ignored the fact that the sale consideration as per the sale deed was Rs.50 lakhs and that the assessee had by filing the return offered his share of such proceeds by way of capital gain. 13. In the result, impugned notice is quashed. Petition

KANDLA TRUST PORT, SUPERNUATION SCHEAME,,GANDHIDHAM vs. THE INCOME TAX OFFICER, WARD-1,, GANDHIDHAM-KUTCH

In the result, impugned notice is quashed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

section 50C of the Act. The reasons recorded nowhere mentioned this possibility. Reasons recorded, in fact, ignored the fact that the sale consideration as per the sale deed was Rs.50 lakhs and that the assessee had by filing the return offered his share of such proceeds by way of capital gain. 13. In the result, impugned notice is quashed. Petition

M/S RADHE RENEWABLE ENERGY DEVELOPMENT PVT. LTD.,,RAJKOT-GUJARAT vs. THE ASSTT. COMMR. INCOME TAX, CIRCLE-5,, RAJKOT-GUJARAT

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

reassessment every year. As one reaches close to the end of the warranty period, the probability that the warranty expenses will be incurred is considerably reduced and that should be reflected in the estimation amount. Whether this should be done through a pro rata reversal or otherwise would require assessment of historical trend. If warranty provisions are based on experience

THE DEPUTY COMMR. INCOME TAX, CIRCLE-1(2),, RAJKOT vs. M/S RADHE RENEWABLE ENERGY DEVELOPMENT PVT. LTD.,, RAJKOT

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

reassessment every year. As one reaches close to the end of the warranty period, the probability that the warranty expenses will be incurred is considerably reduced and that should be reflected in the estimation amount. Whether this should be done through a pro rata reversal or otherwise would require assessment of historical trend. If warranty provisions are based on experience

THE DY. COMMR. OF INCOME TAX, CIRCLE-1(1),, RAJKOT-GUJARAT vs. M/S. RADHE RENEWABLE ENERGY DEVELOPEMENT PVT. LTD.,, RAJKOT-GUJARAT

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

reassessment every year. As one reaches close to the end of the warranty period, the probability that the warranty expenses will be incurred is considerably reduced and that should be reflected in the estimation amount. Whether this should be done through a pro rata reversal or otherwise would require assessment of historical trend. If warranty provisions are based on experience

RADHE RENEWABLE ENERGY DEVELOPMENT PVT LTD,RAJKOT vs. THE PCIT, RAJKOT-1, RAJKOT, RAJKOT

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

reassessment every year. As one reaches close to the end of the warranty period, the probability that the warranty expenses will be incurred is considerably reduced and that should be reflected in the estimation amount. Whether this should be done through a pro rata reversal or otherwise would require assessment of historical trend. If warranty provisions are based on experience