India Gelatine & Chemical Industries Ltd. v. ACIT

INCOME TAX OFFICER, VEJALPUR vs. DIGITAL BIOTECH PVT. LTD., MEMNAGAR

In the result, the appeal filed by the Revenue is allowed for statistical purposes

Bench: Ms. Suchitra R. Kamble & Shri Makarand V. Mahadeokar, Accountnat Member Assessment Year : 2016-17 Digital Biotech Pvt. Ltd., Income-Tax Officer, Vs A/9, Yashprabha Apartment, Ward-1(1)(3), Behind Janta Ice Cream, Ahmedabad Gurukul Road, Memnagar, Ahmedabad -380052 Pan : Aaccd 1831 B अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Tushar Hemani, Sr. Advocate & Shri Parimalsinh B. Parmar, Ar Revenue By : Ms. Bhavnasingh Gupta, Sr. Dr सुनवाई की तारीख/Date Of Hearing : 09/05/2024 घोषणा की तारीख /Date Of Pronouncement: 17/05/2024 आदेश/O R D E R Per Makarand V. Mahadeokar:

…eable to tax. 10. The Counsel for the assessee relied on the following judicial pronouncements:- i. Motto Tiles (P.) Ltd. vs. ACIT, 386 ITR 280 (Gụj); ii. PKM Advisory Services P. Ltd. v ITO, 339 ITR 585 (Gụj); iii. India Gelatine and Chemicals Ltd. v ACIT, 364 ITR 649 (Guj); iv. Ban Labs Ltd. vs. ACIT, SCA 7176 of 2012 (Gụj). 11. Submissions on other aspects of the reopening have also been made by the counsel for the assessee inter alia reasons are absolutely vague, scanty and non-specific; reopening is merely based on borrowed satisfaction; reopening is beyond a period of four years from the end of relevant…

GUJARAT ENERGY TRANSMISSION CORPN.LTD.,,BARODA vs. THE DY.CIT, CIRCLE-1(1),, BARODA

In the result, the appeal filed by the assessee allowed

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad

…ment can be envisaged. It was thus contended that re-assessment notice is without authority of law and re-assessment order is bad in law in view of the decision of the Hon’ble Gujarat High Court in the case of India Gelatine and Chemicals Ltd. vs. ACIT (2014) 364 ITR 649 (Guj) which principles have been followed in Motto Tiles (P.) Ltd. vs. ACIT (2016) 386 ITR 280 (Guj). It was pointed out in conclusion that even if entire amount of disallowances made by the AO on account of prior period expenses is sustained, there would be no addition to the tax liability of the assessee and the assessee would still be governed…

M/S. MARCK BIOSCIENCES LTD. (NOW KNOW AS AMANTA HEALTHCARE LTD.),,AHMEDABAD vs. THE DY. CIT(OSD)-1, CIRCLE-4,, AHMEDABAD

In the result, the appeal is allowed in the terms indicated above

…Having heard the rival contentions and having perused the material on record, we find that the legal position is well settled, in this respect, by Hon’ble jurisdictional High Court’s judgments in the cases of India Gelatine & Chemical Industries Ltd vs. ACIT (364 ITR 649), MottoTiles Pvt Ltd vs. ACIT (386 ITR 280) and PKM Advisory Mark Biosciences Ltd Vs. DCIT (OSD) Assessment Year : 2007-08 Page 3 of 4 Services Pvt Ltd vs. ITO (339 ITR 585). We may, in this regard, refer to the following observations made by the Hon’ble jurisdictional High Court in the case of Motto Tiles Pvt Ltd (supra):- “...........the cont…

ALEMBIC LIMITED,,BARODA vs. THE DY.CIT., CIRCLE-1(1),, BARODA

In the result, the appeal is allowed in the terms indicated above

…Having heard the rival contentions and having perused the material on record, we find that the legal position is well settled, in this respect, by Hon’ble jurisdictional High Court’s judgments in the cases of India Gelatine & Chemical Industries Ltd vs. ACIT (364 ITR 649), MottoTiles Pvt Ltd vs. ACIT (386 ITR 280) and PKM Advisory Services Pvt Ltd vs. ITO (339 ITR 585). We may, in this regard, refer to the following Alembic Limited Vs. DCIT Assessment Year : 2009-10 Page 3 of 4 observations made by the Hon’ble jurisdictional High Court in the case of Motto Tiles Pvt Ltd (supra):- “...........the controversy st…