Bilakhia Holdings Pvt. Ltd., Vapi vs. The Addl.CIT., Vapi Range, Vapi
In the result, the appeal of the assessee is allowed for assessment year 2010-11
ITA 1416/AHD/2015[2010-11]Status: DisposedITAT Surat04 Feb 2020AY 2010-11
Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent
Section 115JSection 143(3)Section 144C
…- a. Malayala Manorama Co. Ltd vs. CIT [2008] 300 ITR 251 (SC) b. CIT vs. HCL Comnet Systems and Services Ltd [2008] 305 ITR 409 (SC), c. CIT-I Vs. Vijayashree Finance and Investment Co. Pvt. Ltd 2 DTR 38 [216 CTR (Madra) 191] d. CIT Vs. Rubamin P. Ltd [2009] 312 ITR 18 (Guj) e. CIT Vs. Kovai Maruthi Paper and Board P. Ltd [2007] 294 57 (Mad) f. CIT Vs. Adbhut Trading Co. P. Ltd [2011] 338 ITR 94 (Bom), and g. CIT Vs. Akshay Textiles Trading and Agencies P. Ltd [2008] 304 ITR (Bom) 2. Proceeds on sale of gifted shares cannot be credited to P &L A/c a. Shares received as gift do not constitute ‘investment’ and hen…