Zaverchand Gaekwad Limited vs Income Tax Officer Ward 4 (4)
2022 Latest Caselaw 7941 Guj

     C/TAXAP/869/2009                               JUDGMENT DATED: 14/09/2022




           IN THE HIGH COURT OF GUJARAT AT AHMEDABAD

                        R/TAX APPEAL NO. 869 of 2009
                                   With
CIVIL APPLICATION (FIXING DATE OF EARLY HEARING) NO. 1 of 2022
                                    In
                        R/TAX APPEAL NO. 869 of 2009

FOR APPROVAL AND SIGNATURE:

HONOURABLE THE CHIEF JUSTICE MR. JUSTICE ARAVIND KUMAR
                         and
HONOURABLE MR. JUSTICE ASHUTOSH J. SHASTRI
=============================================

1     Whether Reporters of Local Papers may be allowed to
      see the judgment ?

2     To be referred to the Reporter or not ?

3     Whether their Lordships wish to see the fair copy of the
      judgment ?

4     Whether this case involves a substantial question of law
      as to the interpretation of the Constitution of India or
      any order made thereunder ?

=============================================
                   ZAVERCHAND GAEKWAD LIMITED
                              Versus
                   INCOME TAX OFFICER WARD 4 (4)
=============================================
Appearance:
MR BANDISH SOPARKAR for MRS SWATI SOPARKAR(870) for the
Appellant(s) No. 1
MR.VARUN K.PATEL(3802) for the Opponent(s) No. 1
=============================================
     CORAM:HONOURABLE THE CHIEF JUSTICE MR. JUSTICE ARAVIND KUMAR
                                and
           HONOURABLE MR. JUSTICE ASHUTOSH J. SHASTRI

Date : 14/09/2022
ORAL JUDGMENT

(PER : HONOURABLE THE CHIEF JUSTICE MR. JUSTICE ARAVIND KUMAR)

1. In this appeal following substantial question of law has

C/TAXAP/869/2009 JUDGMENT DATED: 14/09/2022

been raised :-

"1. Whether, on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in law in holding that the Assessing Officer was justified in invoking the provisions of Section 147 of the Income Tax Act, 1961, for re-opining of the assessment for the Assessment Year 2004-05.

2. Whether, on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in law in holding that the Assessing Officer was justified in invoking the provisions of Section 55A of the Income Tax Act, 1961, to the District Valuation Officer (DVO) for ascertaining the Fair Market Value of the property as on 01.04.1981?"

2. The co-ordinate Bench in the matter of Commissioner of

Income Tax v. Gauranginiben S. Shodhan Indl., reported in

367 ITR 238 has answered the substantial question of law

framed in the instant appeal, namely in relation to the

provisions of Section 55A of the Income Tax Act, 1961.

3. However, the learned counsel appearing for the appellant

submits that in light of substantial question of law no. 2 having

been answered by this Court in favour of the appellant, he

would not press, substantial question of law no. 1 framed in the

appeal memorandum as well as by this Court. His submission is

placed on record.

C/TAXAP/869/2009 JUDGMENT DATED: 14/09/2022

4. Since, substantial question of law framed in this appeal,

stands fairly covered in favour of the assessee by judgment of

Apex Court in Gauranginiben's case referred to supra, this

appeal is allowed by answering the substantial question of law

in favour of the assessee. No orders as to costs.

Pending application stands consigned to record as it would

not survive for consideration.

(ARAVIND KUMAR,CJ)

(ASHUTOSH J. SHASTRI, J) phalguni