DCIT, CIRCLE-1(1)(1), SURAT, SURAT vs. M/S. J K PAPER LIMITED, SURAT

In the result, all these three appeals of the Revenue are dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

price whichever is low as per accounting policy followed by the assessee for valuation of stock. With these remarks we set aside this ground to the file of AO.” 16. We have further noted that the assessing officer, while giving effect to the order of learned CIT(A), in his order dated 11th April 2014, deleted the entire addition. Considering

DCIT, CIRCLE-1(1)(2), SURAT vs. J K PAPER LTD, SURAT

In the result, all these three appeals of the Revenue are dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

price whichever is low as per accounting policy followed by the assessee for valuation of stock. With these remarks we set aside this ground to the file of AO.” 16. We have further noted that the assessing officer, while giving effect to the order of learned CIT(A), in his order dated 11th April 2014, deleted the entire addition. Considering

THE ASSTT. COMMISSIONER OF INCOME TAX, VAPI CIRCLE,, VAPI vs. M/S. MITSU LIMITED,, DAMAN

In the result, the appeal of the Revenue is dismissed

Bench: Shri Sandip Gosain & Shri O. P. Meenav. ""यथ"/Respondent आ.अ.सं././././I "नधा"र अपीलाथ" Appellant S .T.A No. ण N वष"/A Y: 1 1671/Ah 2002- M/S. Mitsu Limited, V. Assistant D/2006 03 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 2 1371/Ah 2002- Assistant V. M/S. Mitsu Limited, D/2006 03 Commissioner Of 304/2, Iind Phase, Income Tax-Vapi Gidc, Vapi 396195 Circle, Vapi Pan: Aaccm 2764 Q Co.No.1 2002- M/S. Mitsu Limited, V. Assistant 3 84/Ahd/ 03 304/2, Iind Phase, Commissioner Of 2006 Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 4 1672/Ah 2003- M/S. Mitsu Limited, V. Assistant D/2006 04 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 5 1764/Ah 2003- Assistant V. M/S. Mitsu Limited, D/2006 04 Commissioner Of 304/2, Iind Phase, Income Tax-Vapi Gidc, Vapi 396195 Circle, Vapi Pan: Aaccm 2764 Q 6 1000/Ah 2002- M/S. Mitsu Limited, V. Assistant D/2016 03 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 7 3510/Ah 2000- Assistant V. M/S. Mitsu Limited, D/2016 01 Commissioner Of Page 2 Of 83 Mitsu Ltd. V. Acit- Vapi/I.T.A. No.1671-1371,Co-184,1672-1764,1614 &1000/Ahd/2006/A.Y.02-03,03-04,06-07.02-03 Income Tax-Vapi 304/2, Iind Phase, Circle, Vapi Gidc, Vapi 396195 Pan: Aaccm 2764 Q

125. Ground No. 7 states that Ld. CIT (A) has erred in not considering insurance claim received to the tune of Rs.1,11,006 as income from business for the purpose of computing deduction under section 80HHC. The action of the AO is contrary to the facts and law and deserve to be deleted. 126. We have heard the rival

M/S. MITSU PRIVATE LIMITED,,VAPI vs. THE ACIT, VAPI CIRCLE,, VAPI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Sandip Gosain & Shri O. P. Meenav. ""यथ"/Respondent आ.अ.सं././././I "नधा"र अपीलाथ" Appellant S .T.A No. ण N वष"/A Y: 1 1671/Ah 2002- M/S. Mitsu Limited, V. Assistant D/2006 03 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 2 1371/Ah 2002- Assistant V. M/S. Mitsu Limited, D/2006 03 Commissioner Of 304/2, Iind Phase, Income Tax-Vapi Gidc, Vapi 396195 Circle, Vapi Pan: Aaccm 2764 Q Co.No.1 2002- M/S. Mitsu Limited, V. Assistant 3 84/Ahd/ 03 304/2, Iind Phase, Commissioner Of 2006 Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 4 1672/Ah 2003- M/S. Mitsu Limited, V. Assistant D/2006 04 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 5 1764/Ah 2003- Assistant V. M/S. Mitsu Limited, D/2006 04 Commissioner Of 304/2, Iind Phase, Income Tax-Vapi Gidc, Vapi 396195 Circle, Vapi Pan: Aaccm 2764 Q 6 1000/Ah 2002- M/S. Mitsu Limited, V. Assistant D/2016 03 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 7 3510/Ah 2000- Assistant V. M/S. Mitsu Limited, D/2016 01 Commissioner Of Page 2 Of 83 Mitsu Ltd. V. Acit- Vapi/I.T.A. No.1671-1371,Co-184,1672-1764,1614 &1000/Ahd/2006/A.Y.02-03,03-04,06-07.02-03 Income Tax-Vapi 304/2, Iind Phase, Circle, Vapi Gidc, Vapi 396195 Pan: Aaccm 2764 Q

125. Ground No. 7 states that Ld. CIT (A) has erred in not considering insurance claim received to the tune of Rs.1,11,006 as income from business for the purpose of computing deduction under section 80HHC. The action of the AO is contrary to the facts and law and deserve to be deleted. 126. We have heard the rival

THE DY.COMMISSIONER OF INCOME TAX CIRCLE-2(3),, SURAT vs. M/S. RAJ ENTERPRISES,, SURAT

Bench: Shri Pawan Singh & Dr Arjun Lal Saini

section 53A of Transfer of Property Act, 1882 during the year. 2. The ld CIT(A) has erred in laws and on facts in not directing the ld AO to give setoff of the undisclosed income admitted during survey of Rs. 1.50 Crore against the undisclosed income finally getting determined in the appellant’s case. Substituted Ground

M/S. RAJ ENTERPRISE,,SURAT vs. THE DY. COMMISSIONER OF INCOME TAX-6,, SURAT

Bench: Shri Pawan Singh & Dr Arjun Lal Saini

section 53A of Transfer of Property Act, 1882 during the year. 2. The ld CIT(A) has erred in laws and on facts in not directing the ld AO to give setoff of the undisclosed income admitted during survey of Rs. 1.50 Crore against the undisclosed income finally getting determined in the appellant’s case. Substituted Ground

M/S. RAJ ENTERPRISE,,SURAT vs. THE DY. COMMISSIONER OF INCOME TAX-6,, SURAT

Bench: Shri Pawan Singh & Dr Arjun Lal Saini

section 53A of Transfer of Property Act, 1882 during the year. 2. The ld CIT(A) has erred in laws and on facts in not directing the ld AO to give setoff of the undisclosed income admitted during survey of Rs. 1.50 Crore against the undisclosed income finally getting determined in the appellant’s case. Substituted Ground

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, SURAT, SURAT vs. JAYANTIBHAI VIRJIBHAI BABARIYA, SURAT

In the result, the appeal of the Revenue is dismissed

Bench: Shri Pawan Singh, Jm & Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.297/Srt/2023 (िनधा"रणवष" / Assessment Year: (2018-19) (Virtual Court Hearing) Assistant Commissioner Of Shri Jayantibhai Virjibhai Babariya, Income-Tax, Circle-2, Surat, Vs. K-801, River View Heights, Room No.503, 5Th Floor, Aayakar Pedar Road, Mota Varachha, Bhawan, Majura Gate, Surat- Surat-394101 395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Afhpb 0820 M (अपीलाथ" /Appellant) (""थ"/Respondent)

section 2(47) of the Act defines ‘transfer’ in relation to a capital asset, which includes: sale, exchange, relinquishment, extinguishment, compulsory acquisition etc. In assessee`s case, the assessee is owner of the asset in the assessment year 2017-18, he did not sale his asset (land), hence, the Revenue does not have authority to collect the capital gain

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIR.-2, SURAT vs. SHRI JAYANTIBHAI VIRJIBHAI BABARIYA, SURAT

In the result, appeals filed by the Revenue (in ITA nos

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No.110/Srt/2021 ("नधा"रणवष" / Assessment Year: (2016-17) (Physical Court Hearing) Jayantibhai Virjibhai Babariya, Vs. The Acit, Central Circle-2, K-801, River View Heights, Surat. Peddar Road, Mota Varachha, Surat-394101 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Afhpb0820M (Assessee) (Respondent) आयकरअपीलसं./Ita No.195/Srt/2021 ("नधा"रणवष" / Assessment Year: (2017-18) The Dcit, Central Circle-2, Vs. Jayantibhai Virjibhai Babariya, K-801, River View Heights, Surat. Peddar Road, Mota Varachha, Surat-394101 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Afhpb0820M (Assessee) (Respondent) Shri Ashwin K. Parekh, Ar Assessee By Respondent By Shri Ritesh Mishra, Cit-Dr Date Of Hearing 07/10/2022 Date Of Pronouncement 22/11/2022

section 2(47) of the Act defines ‘transfer’ in relation to a capital asset, which includes: sale, exchange, relinquishment, extinguishment, compulsory acquisition etc. In assessee`s case, the assessee is owner of the asset in the assessment year 2017-18, he did not sale his asset (land), hence, the Revenue does not have authority to collect the capital gain

SHRI JAYANTIBHAI VIRJIBHAI BABARIYA,SURAT vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIR.,2, SURAT

In the result, appeals filed by the Revenue (in ITA nos

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No.110/Srt/2021 ("नधा"रणवष" / Assessment Year: (2016-17) (Physical Court Hearing) Jayantibhai Virjibhai Babariya, Vs. The Acit, Central Circle-2, K-801, River View Heights, Surat. Peddar Road, Mota Varachha, Surat-394101 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Afhpb0820M (Assessee) (Respondent) आयकरअपीलसं./Ita No.195/Srt/2021 ("नधा"रणवष" / Assessment Year: (2017-18) The Dcit, Central Circle-2, Vs. Jayantibhai Virjibhai Babariya, K-801, River View Heights, Surat. Peddar Road, Mota Varachha, Surat-394101 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Afhpb0820M (Assessee) (Respondent) Shri Ashwin K. Parekh, Ar Assessee By Respondent By Shri Ritesh Mishra, Cit-Dr Date Of Hearing 07/10/2022 Date Of Pronouncement 22/11/2022

section 2(47) of the Act defines ‘transfer’ in relation to a capital asset, which includes: sale, exchange, relinquishment, extinguishment, compulsory acquisition etc. In assessee`s case, the assessee is owner of the asset in the assessment year 2017-18, he did not sale his asset (land), hence, the Revenue does not have authority to collect the capital gain

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIR.-2, SURAT vs. SHRI SHANKAR MULCHAND UTTAMANI, SURAT

In the result, appeals filed by the Revenue ( in ITA nos

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita Nos.134 To 137/Srt/2021 ("नधा"रणवष" / Assessment Year: (2017-18) (Virtual Court Hearing) The Dcit, Central Circle-2, Vs. Shri Pravinchandra Dahyabhai Umriger, Surat. Bungalow No.01, Opp. Talao Street, Near Govindji Park, Umra, Surat-395007(Guj) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabpu5216D The Dcit, Central Circle-2, Vs. Shri Vasantrai Ambaram Modi, Surat. 504, D/1, Subham Residency, Pal, Surat- 395005. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acrpm0852D The Dcit, Central Circle-2, Vs. Shri Shankar Mulchand Uttamani, Surat. 1/3210-11, New Textile Market, Ring Road, Surat-395002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aahpu9028R The Dcit, Central Circle-2, Vs. Shri Prabodhchandra Jayantilal Patel, Surat. 297, Hari Narar-3, Opp. Brc Gate, Udhna, Surat-394210. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Afvpp7466F (Assessee) (Respondent) Assessee By: Shri Rasesh Shah, Ca Revenue By: Shri Ritesh Mishra, Cit(Dr) सुनवाईक"तार"ख/ Date Of Hearing : 02/03/2022 घोषणाक"तार"ख/Date Of Pronouncement : 10/05/2022 आदेश / O R D E R Per Dr. A. L. Saini: Captioned Four Appeals Filed By The Revenue, Pertaining To Assessment Year (Ay) 2017-18, Are Directed Against The Separate Orders Passed By The Learned Commissioner Of Income Tax (Appeals), Which In Turn Arise Out Of Separate Assessment Orders Passed By The Assessing Officer Under Section 143(3) Of The Income Tax Act, 1961 [Hereinafter Referred To As The “Act”].

section 2(47) of the Act defines ‘transfer’ in relation to a capital asset, which includes: sale, exchange, relinquishment, extinguishment, compulsory acquisition etc. In assessee`s case, the assessee is owner of the asset in the assessment year 2017-18, he did not sale his asset (land), hence, the Revenue does not have authority to collect the capital gain

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIR.-2, SURAT vs. SHRI PRABODHCHABNDRA JAYANTILAL PATEL, SURAT

In the result, appeals filed by the Revenue ( in ITA nos

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita Nos.134 To 137/Srt/2021 ("नधा"रणवष" / Assessment Year: (2017-18) (Virtual Court Hearing) The Dcit, Central Circle-2, Vs. Shri Pravinchandra Dahyabhai Umriger, Surat. Bungalow No.01, Opp. Talao Street, Near Govindji Park, Umra, Surat-395007(Guj) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabpu5216D The Dcit, Central Circle-2, Vs. Shri Vasantrai Ambaram Modi, Surat. 504, D/1, Subham Residency, Pal, Surat- 395005. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acrpm0852D The Dcit, Central Circle-2, Vs. Shri Shankar Mulchand Uttamani, Surat. 1/3210-11, New Textile Market, Ring Road, Surat-395002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aahpu9028R The Dcit, Central Circle-2, Vs. Shri Prabodhchandra Jayantilal Patel, Surat. 297, Hari Narar-3, Opp. Brc Gate, Udhna, Surat-394210. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Afvpp7466F (Assessee) (Respondent) Assessee By: Shri Rasesh Shah, Ca Revenue By: Shri Ritesh Mishra, Cit(Dr) सुनवाईक"तार"ख/ Date Of Hearing : 02/03/2022 घोषणाक"तार"ख/Date Of Pronouncement : 10/05/2022 आदेश / O R D E R Per Dr. A. L. Saini: Captioned Four Appeals Filed By The Revenue, Pertaining To Assessment Year (Ay) 2017-18, Are Directed Against The Separate Orders Passed By The Learned Commissioner Of Income Tax (Appeals), Which In Turn Arise Out Of Separate Assessment Orders Passed By The Assessing Officer Under Section 143(3) Of The Income Tax Act, 1961 [Hereinafter Referred To As The “Act”].

section 2(47) of the Act defines ‘transfer’ in relation to a capital asset, which includes: sale, exchange, relinquishment, extinguishment, compulsory acquisition etc. In assessee`s case, the assessee is owner of the asset in the assessment year 2017-18, he did not sale his asset (land), hence, the Revenue does not have authority to collect the capital gain

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIR.,2, SURAT vs. SHRI PRAVINCHANDRA DAHYABHAI UMRIGER, SURAT

In the result, appeals filed by the Revenue ( in ITA nos

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita Nos.134 To 137/Srt/2021 ("नधा"रणवष" / Assessment Year: (2017-18) (Virtual Court Hearing) The Dcit, Central Circle-2, Vs. Shri Pravinchandra Dahyabhai Umriger, Surat. Bungalow No.01, Opp. Talao Street, Near Govindji Park, Umra, Surat-395007(Guj) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabpu5216D The Dcit, Central Circle-2, Vs. Shri Vasantrai Ambaram Modi, Surat. 504, D/1, Subham Residency, Pal, Surat- 395005. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acrpm0852D The Dcit, Central Circle-2, Vs. Shri Shankar Mulchand Uttamani, Surat. 1/3210-11, New Textile Market, Ring Road, Surat-395002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aahpu9028R The Dcit, Central Circle-2, Vs. Shri Prabodhchandra Jayantilal Patel, Surat. 297, Hari Narar-3, Opp. Brc Gate, Udhna, Surat-394210. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Afvpp7466F (Assessee) (Respondent) Assessee By: Shri Rasesh Shah, Ca Revenue By: Shri Ritesh Mishra, Cit(Dr) सुनवाईक"तार"ख/ Date Of Hearing : 02/03/2022 घोषणाक"तार"ख/Date Of Pronouncement : 10/05/2022 आदेश / O R D E R Per Dr. A. L. Saini: Captioned Four Appeals Filed By The Revenue, Pertaining To Assessment Year (Ay) 2017-18, Are Directed Against The Separate Orders Passed By The Learned Commissioner Of Income Tax (Appeals), Which In Turn Arise Out Of Separate Assessment Orders Passed By The Assessing Officer Under Section 143(3) Of The Income Tax Act, 1961 [Hereinafter Referred To As The “Act”].

section 2(47) of the Act defines ‘transfer’ in relation to a capital asset, which includes: sale, exchange, relinquishment, extinguishment, compulsory acquisition etc. In assessee`s case, the assessee is owner of the asset in the assessment year 2017-18, he did not sale his asset (land), hence, the Revenue does not have authority to collect the capital gain

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIR.-2, SURAT vs. SHRI VASANTRAI AMBARAM MODI, SURAT

In the result, appeals filed by the Revenue ( in ITA nos

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita Nos.134 To 137/Srt/2021 ("नधा"रणवष" / Assessment Year: (2017-18) (Virtual Court Hearing) The Dcit, Central Circle-2, Vs. Shri Pravinchandra Dahyabhai Umriger, Surat. Bungalow No.01, Opp. Talao Street, Near Govindji Park, Umra, Surat-395007(Guj) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabpu5216D The Dcit, Central Circle-2, Vs. Shri Vasantrai Ambaram Modi, Surat. 504, D/1, Subham Residency, Pal, Surat- 395005. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acrpm0852D The Dcit, Central Circle-2, Vs. Shri Shankar Mulchand Uttamani, Surat. 1/3210-11, New Textile Market, Ring Road, Surat-395002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aahpu9028R The Dcit, Central Circle-2, Vs. Shri Prabodhchandra Jayantilal Patel, Surat. 297, Hari Narar-3, Opp. Brc Gate, Udhna, Surat-394210. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Afvpp7466F (Assessee) (Respondent) Assessee By: Shri Rasesh Shah, Ca Revenue By: Shri Ritesh Mishra, Cit(Dr) सुनवाईक"तार"ख/ Date Of Hearing : 02/03/2022 घोषणाक"तार"ख/Date Of Pronouncement : 10/05/2022 आदेश / O R D E R Per Dr. A. L. Saini: Captioned Four Appeals Filed By The Revenue, Pertaining To Assessment Year (Ay) 2017-18, Are Directed Against The Separate Orders Passed By The Learned Commissioner Of Income Tax (Appeals), Which In Turn Arise Out Of Separate Assessment Orders Passed By The Assessing Officer Under Section 143(3) Of The Income Tax Act, 1961 [Hereinafter Referred To As The “Act”].

section 2(47) of the Act defines ‘transfer’ in relation to a capital asset, which includes: sale, exchange, relinquishment, extinguishment, compulsory acquisition etc. In assessee`s case, the assessee is owner of the asset in the assessment year 2017-18, he did not sale his asset (land), hence, the Revenue does not have authority to collect the capital gain

SHRI NISHANT KANTILAL PATEL,BHARUCH vs. INCOME TAX OFFICER, WARD-2(2), BHARUCH

In the result, the appeals filed by the assessee (In ITA No

Bench: Shri Pawan Singh, Jm & Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.05 & 06/Srt/2019 ("नधा"रणवष" / Assessment Year: (2013-14) (Virtual Court Hearing) Shri Nishantkantilal Patel, Vs. Income Tax Officer, 9, Uma Park Society, Near Uma Ward-2(2), Bharuch. Bhavan, Bharuch-393002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Amepp2505R (Assessee) (Respondent) Smt Muktabennishantbhai Patel, Vs. Income Tax Officer, 9-10, Patel Kubj, Uma Park Society, B/H Ward-2(2), Bharuch. Uma Bhavan, Old Nh No.8, Gidc, Zadeshwar, Ankleshwar -393002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Binpp5922N (Assessee) (Respondent) आयकरअपीलसं./Ita Nos.07 & 10/Srt/2019 ("नधा"रणवष" / Assessment Year: (2014-15)

125 Taxmann 963(SC)]. The ld Counsel submitted that notwithstanding this fact, the assessee can raise legal ground (about validity of reassessment under section 147 of the Act) at any stage, for that he relied on the decision of the Coordinate Bench of ITAT Agra in the case of Smt. Premwati Suman Vs. ITO, In ITA No.393/Agra/2018, order dated

SHRI NISHANT KANTILAL PATEL,BHARUCH vs. INCOME TAX OFFICER, WARD-2(2), BHARUCH

In the result, the appeals filed by the assessee (In ITA No

Bench: Shri Pawan Singh, Jm & Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.05 & 06/Srt/2019 ("नधा"रणवष" / Assessment Year: (2013-14) (Virtual Court Hearing) Shri Nishantkantilal Patel, Vs. Income Tax Officer, 9, Uma Park Society, Near Uma Ward-2(2), Bharuch. Bhavan, Bharuch-393002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Amepp2505R (Assessee) (Respondent) Smt Muktabennishantbhai Patel, Vs. Income Tax Officer, 9-10, Patel Kubj, Uma Park Society, B/H Ward-2(2), Bharuch. Uma Bhavan, Old Nh No.8, Gidc, Zadeshwar, Ankleshwar -393002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Binpp5922N (Assessee) (Respondent) आयकरअपीलसं./Ita Nos.07 & 10/Srt/2019 ("नधा"रणवष" / Assessment Year: (2014-15)

125 Taxmann 963(SC)]. The ld Counsel submitted that notwithstanding this fact, the assessee can raise legal ground (about validity of reassessment under section 147 of the Act) at any stage, for that he relied on the decision of the Coordinate Bench of ITAT Agra in the case of Smt. Premwati Suman Vs. ITO, In ITA No.393/Agra/2018, order dated

SMT. MUKTABEN NISHANTBHAI PATEL,ANKLESHWAR vs. INCOME TAX OFFICER WARD -2(2), BHARUCH

In the result, the appeals filed by the assessee (In ITA No

Bench: Shri Pawan Singh, Jm & Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.05 & 06/Srt/2019 ("नधा"रणवष" / Assessment Year: (2013-14) (Virtual Court Hearing) Shri Nishantkantilal Patel, Vs. Income Tax Officer, 9, Uma Park Society, Near Uma Ward-2(2), Bharuch. Bhavan, Bharuch-393002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Amepp2505R (Assessee) (Respondent) Smt Muktabennishantbhai Patel, Vs. Income Tax Officer, 9-10, Patel Kubj, Uma Park Society, B/H Ward-2(2), Bharuch. Uma Bhavan, Old Nh No.8, Gidc, Zadeshwar, Ankleshwar -393002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Binpp5922N (Assessee) (Respondent) आयकरअपीलसं./Ita Nos.07 & 10/Srt/2019 ("नधा"रणवष" / Assessment Year: (2014-15)

125 Taxmann 963(SC)]. The ld Counsel submitted that notwithstanding this fact, the assessee can raise legal ground (about validity of reassessment under section 147 of the Act) at any stage, for that he relied on the decision of the Coordinate Bench of ITAT Agra in the case of Smt. Premwati Suman Vs. ITO, In ITA No.393/Agra/2018, order dated

ACIT, CC-3, SURAT vs. SHRI NARESH NEMCHAND SHAH, SURAT

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.197/Srt/2020 ("नधा"रणवष" / Assessment Years: (2012-13) (Physical Court Hearing) The Acit, Central Cir.-3, Vs. Naresh Nemchand Shah, Surat. Abhishek House, Bh. Jeevan Bharti School, Kadampali Society, Nanpura, Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acrps 0182 J (Assessee)/(Revenue) (Respondent)/(Assessee)

Transfer Exempt u/s.10(38) Company /year Cost/year Expenses Bakra Pratisth an 26454750 1500000 0 24954750 Limited The assessing officer observed that trading done by the assessee in the scripts of Bakra Pratisthan Limited who has poor fundamentals and is not doing any significant business activities since its inception. Moreover, trading in the above mentioned scripts has been done