Nirma Ind. Ltd. v. Dy. CIT

M/S. KHYATI CHEMICALS PVT.LTD.,,AHMEDABAD vs. DY. CIT,(OSD),, AHMEDABAD

In the result appeal of the assessee is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No. 884/Ahd/2014 िनधा"रण वष"/Asstt. Year: 2004-05 & आयकर अपील सं./Ita No. 779/Ahd/2015 िनधा"रण वष"/Asstt. Year: 2011-12 M/S Khyati Chemicals Pvt. Ltd., D.C.I.T(Osd), A/7, 4Th Floor, Safai Profitire, Vs. Circle-4, Opp. Auda Garden, Ahmedabad. Prahladnagar, Corporate Road, Satellite, Ahmedabad-380015. Pan: Aaack6277E

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ D’’ BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT And SHRI WASEEM AHMED, ACCOUNTANT MEMBER आयकर अपील सं./ITA No. 884/AHD/2014 िनधा"रण वष"/Asstt. Year: 2004-05 And आयकर अपील सं./ITA No. 779/AHD/2015 िनधा"रण वष"/Asstt. Year: 2011-12 M/s Khyati Chemicals Pvt. Ltd., D.C.I.T(OSD), A/7, 4th Floor, Safai Profitire, Vs. Circle-4, Opp. Auda Garden, Ahmedabad. Prahladnagar, Corporate Road, Satellite, Ahmedabad-380015. PAN: AAACK6277E (Applicant) (Respondent) Assessee by : None Revenue b…

M/S. KHYATI CHEMICALS PVT. LTD.,,AHMEDABAD vs. THE ACIT(OSD)-I, CIRCLE-4,, AHMEDABAD

In the result appeal of the assessee is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No. 884/Ahd/2014 िनधा"रण वष"/Asstt. Year: 2004-05 & आयकर अपील सं./Ita No. 779/Ahd/2015 िनधा"रण वष"/Asstt. Year: 2011-12 M/S Khyati Chemicals Pvt. Ltd., D.C.I.T(Osd), A/7, 4Th Floor, Safai Profitire, Vs. Circle-4, Opp. Auda Garden, Ahmedabad. Prahladnagar, Corporate Road, Satellite, Ahmedabad-380015. Pan: Aaack6277E

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ D’’ BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT And SHRI WASEEM AHMED, ACCOUNTANT MEMBER आयकर अपील सं./ITA No. 884/AHD/2014 िनधा"रण वष"/Asstt. Year: 2004-05 And आयकर अपील सं./ITA No. 779/AHD/2015 िनधा"रण वष"/Asstt. Year: 2011-12 M/s Khyati Chemicals Pvt. Ltd., D.C.I.T(OSD), A/7, 4th Floor, Safai Profitire, Vs. Circle-4, Opp. Auda Garden, Ahmedabad. Prahladnagar, Corporate Road, Satellite, Ahmedabad-380015. PAN: AAACK6277E (Applicant) (Respondent) Assessee by : None Revenue b…

THE DCIT, CIRCLE-7(2),, AHMEDABAD vs. SHRI UDAYKUMAR C. PATEL,, AHMEDABAD

In the result, revenue’s appeal is dismissed

Bench: Shri Amarjit Singh & Ms. Madhumita Roydcit, Vs. Udaykumar C. Patel, Circle – 7(2), Prop. Line O Matic Graphic Ahmedabad. Industries, D/62 Diamond Park, Gidc, Estate, Opp. Toyota Show Room, Naroda, Ahmedabad – 382 330. [Pan No. Aatpp 8316 R] (Appellant) .. (Respondent)

…he value of unsold stock is to balance to cost of those goods entered into other side of account. There is an another decision of an Hon'ble Gujarat High Court pronounced in the DCIT vs. Udaykumar C. Patel Asst.Year – 2014-15 case of CIT vs. Unique Industries 307 ITR 350 (Guj.), wherein it was held that the Excise duty, Sales Tax and other duties form part of the closing stock when the same are incurred. In that case, it was noted that the assessee had not debited any excise duty or sales-tax to the purchase account or P&L account. The Court has held that the question of including the excise duty in the value of…

BISAZZA INDIA PVT. LTD.,,KADI vs. THE PR. CIT- 1,, AHMEDABAD

In the result, the appeal is allowed

…ble income by invoking the provisions of section 145 of the Act. It is the contention of the assessee that such intention is contrary to the settled principle of law as the Hon’ble Gujarat High Court in the case of CIT vs. Unique Industries reported at (2008) 307 ITR 350 (Guj.) has ruled that MODVAT credit available to the assessee in terms of provisions of Central Excise Act is not liable to be taxed. Before the ld. Pr. CIT a reliance was placed on the judgement(s) of the Hon’ble Supreme Court in the case of CIT vs. Indo Nippon Chemicals Co. Ltd. reported at (2003) 261 ITR 275(SC) and of CIT vs. Shri Ram Honda P…