CIT v. Indo Nippon Chemicals Ltd.

The ACIT, (OSD)Range-1, Ahmedabad vs. M/S. Dishman Pharmaceuticals & Chemicals Ltd., Ahmedabad

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

…on taxability whether the assessee follows exclusive or inclusive method of accounting, hence no additions is called for under section 145A. He relied upon the judgment of the Hon’ble Gujarat High Court in the case of ACIT Vs. Narmada Chematur Petrochemicals, 327 ITR 369 (Guj). On the other hand, the ld.DR relied upon the orders of the AO. 92. We have duly considered rival contentions and gone through the record carefully. In the case of Narmada Chematur Petrochemicals (supra), Hon’ble High Court has observed that closing stock has to be valued at the option of the assessee i.e. at the cost or market price, whic…

The DCIT(OSD)Range-1, Ahmedabad vs. Dishman Pharmaceuticals & Chemicals Ltd., Ahmedabad

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

…on taxability whether the assessee follows exclusive or inclusive method of accounting, hence no additions is called for under section 145A. He relied upon the judgment of the Hon’ble Gujarat High Court in the case of ACIT Vs. Narmada Chematur Petrochemicals, 327 ITR 369 (Guj). On the other hand, the ld.DR relied upon the orders of the AO. 92. We have duly considered rival contentions and gone through the record carefully. In the case of Narmada Chematur Petrochemicals (supra), Hon’ble High Court has observed that closing stock has to be valued at the option of the assessee i.e. at the cost or market price, whic…

Dishman Pharmaceuticals & Chemicals Ltd., Ahmedabad vs. The ACIT., (OSD)Range-1, Ahmedabad

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

…on taxability whether the assessee follows exclusive or inclusive method of accounting, hence no additions is called for under section 145A. He relied upon the judgment of the Hon’ble Gujarat High Court in the case of ACIT Vs. Narmada Chematur Petrochemicals, 327 ITR 369 (Guj). On the other hand, the ld.DR relied upon the orders of the AO. 92. We have duly considered rival contentions and gone through the record carefully. In the case of Narmada Chematur Petrochemicals (supra), Hon’ble High Court has observed that closing stock has to be valued at the option of the assessee i.e. at the cost or market price, whic…

The DCIT(OSD)Range-1, Ahmedabad vs. Dishman Pharmaceuticals & Chemicals Ltd., Ahmedabad

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

…on taxability whether the assessee follows exclusive or inclusive method of accounting, hence no additions is called for under section 145A. He relied upon the judgment of the Hon’ble Gujarat High Court in the case of ACIT Vs. Narmada Chematur Petrochemicals, 327 ITR 369 (Guj). On the other hand, the ld.DR relied upon the orders of the AO. 92. We have duly considered rival contentions and gone through the record carefully. In the case of Narmada Chematur Petrochemicals (supra), Hon’ble High Court has observed that closing stock has to be valued at the option of the assessee i.e. at the cost or market price, whic…

The DCIT(OSD-1)Circle-4, Ahmedabad vs. Kiri Dyes & Chemicals Ltd., Ahmedabad

Bench: Shri N.K. Billaiya & Shri Mahavir Prasad)

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH (BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER & SHRI MAHAVIR PRASAD, JUDICIAL MEMBER) ITA. No: 2979/AHD/2013 (Assessment Year: 2008-09) The DCIT (OSD)-1 circle- V/S Kiri Dyes &Chemicals Ltd. 7th 4, Ahmedabad Floor, Hasubhai Chambers, Ellisbridge, Opp Townhall Ahmedabad-380006 (Appellant) (Respondent) PAN: AAACK9025C Appellant by : Shri V.K. Singh, Sr. D.R. Respondent by : Shri T. P. Hemani, A.R. (आदेश)/ORDER Date of hearing : 04 -01-2018 Date of Pronouncement : 10-01-2018 PER N.K. BILLAIYA, ACCOUNTANT MEMBER: 1. This appeal by the Revenue…

The ACIT, Circle-7(2), Ahmedabad vs. Shri Udaykumar Chhabildas Patel, Ahmedabad

In the result, the appeal of the revenue is dismissed

…of inclusive method of valuation as per section 145A. During the course of hearing, ld. counsel has stated that case of the assessee is covered by the decision of hon’ble jurisdictional high court in the case of ACIT vs. Narmada Chematur Petro-chemical (2010) 327 ITR 369 (Guj) on the basis of which the Co-ordinate Bench of the ITAT in respect of case of the assessee the matter was set aside to the ld. CIT(A). I.T.A No. 1995/Ahd/2015 A.Y. 2009-10 Page No 3 ACIT vs. Shri Udaykumar Chhabildas Patel 4. We have heard both the sides and perused the material on record. We have also perused the order of the Co-ordinate…

Sterling Abrasives Ltd, Ahmedabad vs. The Dy.CIT., Circle-8, Ahmedabad

In the result, appeals filed by the department in ITA Nos

Bench: Shri N.K. Billaiya & Shri Mahavir Prasadआयकर अपील सं आयकर अपील सं./ Ita Nos. 704 & 705/Ahd/2014 आयकर अपील सं आयकर अपील सं िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष"/ Assessment Year : 2009-10 & 2010-11 वष" Dy. Commissioner Of Income Sterling Abrasives Ltd. Tax, Vs 45/46, Gidc, Circle-8, Odhav Road, Ahmedabad Ahmedabad – 382 415 आयकर अपील सं आयकर अपील सं./ Ita No. 334/Ahd/2015 आयकर अपील सं आयकर अपील सं िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष"/ Assessment Year : 2011-12 वष" Sterling Abrasives Ltd. Dy. Commissioner Of Income 45/46, Gidc, Vs Tax, Odhav Road, Circle-8, Ahmedabad – 382 415 Ahmedabad अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" य "" यथ" "" य "" य थ" थ"/ (Respondent) थ" Assessee By : Shri K. Madhusudan, Sr.D.R. Revenue By : Shri S. N. Soparkar, A.R. सुनवाई क" तारीख/Date Of Hearing : 27/10/2017 घोषणा क" तारीख /Date Of Pronouncement: 13/11/2017 आदेश/O R D E R आदेश आदेश आदेश Per Mahavir Prasad:- These Three Appeals, Two By The Revenue & One By The Assessee Are Directed Against The Separate Orders Of The Commissioner Of Income-Tax (Appeals)-Xiv, Ahmedabad Dated 04/12/2013 (Revenue) & Cit(A)-10, Ahmedabad Dated 19/12/2014 For Assessment Year 2009-10, 2010-11 & 2011-12 Respectively. 2. The Revenue Has Taken Following Grounds In Its Appeal Vide Ita No.704/Ahd/2014 For Asst. Year 2009-10:

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ ‘ए’ अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “ A ” BENCH, AHMEDABAD सव"ी एन.के. "ब"लैया, लेखा सद"य एवं महावीर "साद, "या"यक सद"य के सम" । BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER And SHRI MAHAVIR PRASAD, JUDICIAL MEMBER आयकर अपील सं आयकर अपील सं./ ITA Nos. 704 & 705/Ahd/2014 आयकर अपील सं आयकर अपील सं िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष"/ Assessment Year : 2009-10 & 2010-11 वष" Dy. Commissioner of Income Sterling Abrasives Ltd. Tax, Vs 45/46, GIDC, Circle-8, Odhav Road, Ahmedabad Ahmedabad – 382 415 आयकर अपील सं आयकर अपील सं./ ITA No. 334/Ahd/2015 आयकर अपील सं…

The DCIT, Circle-8, Ahmedabad vs. Sterling Abrasives Ltd, Ahmedabad

In the result, appeals filed by the department in ITA Nos

Bench: Shri N.K. Billaiya & Shri Mahavir Prasadआयकर अपील सं आयकर अपील सं./ Ita Nos. 704 & 705/Ahd/2014 आयकर अपील सं आयकर अपील सं िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष"/ Assessment Year : 2009-10 & 2010-11 वष" Dy. Commissioner Of Income Sterling Abrasives Ltd. Tax, Vs 45/46, Gidc, Circle-8, Odhav Road, Ahmedabad Ahmedabad – 382 415 आयकर अपील सं आयकर अपील सं./ Ita No. 334/Ahd/2015 आयकर अपील सं आयकर अपील सं िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष"/ Assessment Year : 2011-12 वष" Sterling Abrasives Ltd. Dy. Commissioner Of Income 45/46, Gidc, Vs Tax, Odhav Road, Circle-8, Ahmedabad – 382 415 Ahmedabad अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" य "" यथ" "" य "" य थ" थ"/ (Respondent) थ" Assessee By : Shri K. Madhusudan, Sr.D.R. Revenue By : Shri S. N. Soparkar, A.R. सुनवाई क" तारीख/Date Of Hearing : 27/10/2017 घोषणा क" तारीख /Date Of Pronouncement: 13/11/2017 आदेश/O R D E R आदेश आदेश आदेश Per Mahavir Prasad:- These Three Appeals, Two By The Revenue & One By The Assessee Are Directed Against The Separate Orders Of The Commissioner Of Income-Tax (Appeals)-Xiv, Ahmedabad Dated 04/12/2013 (Revenue) & Cit(A)-10, Ahmedabad Dated 19/12/2014 For Assessment Year 2009-10, 2010-11 & 2011-12 Respectively. 2. The Revenue Has Taken Following Grounds In Its Appeal Vide Ita No.704/Ahd/2014 For Asst. Year 2009-10:

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ ‘ए’ अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “ A ” BENCH, AHMEDABAD सव"ी एन.के. "ब"लैया, लेखा सद"य एवं महावीर "साद, "या"यक सद"य के सम" । BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER And SHRI MAHAVIR PRASAD, JUDICIAL MEMBER आयकर अपील सं आयकर अपील सं./ ITA Nos. 704 & 705/Ahd/2014 आयकर अपील सं आयकर अपील सं िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष"/ Assessment Year : 2009-10 & 2010-11 वष" Dy. Commissioner of Income Sterling Abrasives Ltd. Tax, Vs 45/46, GIDC, Circle-8, Odhav Road, Ahmedabad Ahmedabad – 382 415 आयकर अपील सं आयकर अपील सं./ ITA No. 334/Ahd/2015 आयकर अपील सं…

Vardhman Stampings Pvt. Ltd., Ahmedabad vs. The Dy.CIT(OSD), Circle-8 ( Now Dy.CIT, Circle-4(1)(2), Ahmedabad

In the result, the appeal of the assessee is allowed

…f 145A of the Act, came up before the Co-ordinate Bench in the case of ITO V/s Mamata Bramptom Engg. Pvt. Ltd (su pra) and was decided against the revenue, following the judgment of Jurisdictional High Court in the case of Narmada Chematur Petrochemicals Ltd.(327 ITR 369) by observing as follows: I.T.A No. 1132/Ahd/2015 A.Y. 2011-12 Page No 3 Vardhman Stampings Pvt. Ltd. vs . Dy.CIT “We have heard the rival submissions, perused the material available on record and gone through the orders of the authorities below. The issue in the present case is with respect to the addition of unutilized CENVAT credit to the cl…