ATUL LIMITED,AHMEDABAD vs. THE ACIT, CIRCLE-1(1)(1), AHMEDABAD

In the result, the appeal is partly allowed

Bench: S/Shri T.R. Senthil Kumar & Makarand V.Mahadeokarasstt.Year : 2017-18 Atul Limited Acit, Cir.1(1)(1) Atul House, Gi Patel Mark Vs Ahmedabad. Mithila Society, Ahmedabad. Pan : Aabca 2390 M (Applicant) (Responent) Assessee By : Shri Bandish Soparkar, Ar : Shri Prathvi Raj Meena, Cit-Dr Revenue By सुनवाई क" तारीख/Date Of Hearing : 01/05/2025 घोषणा क" तारीख /Date Of Pronouncement: 08/05/2025 आदेश/O R D E R आदेश आदेश आदेश

14A and the consequent addition under section 115JB are directed to be deleted. Grounds 2(a) to 2(d) are allowed. Ground No. 3(a) & 3(b): Disallowance of deduction under section 35(2AB) and alternate claim under section 35(1)(iv) 26. During the assessment proceedings for A.Y. 2017–18, the assessee claimed weighted deduction under section

ACIT, CIRCLE-1(1)(1), AHMEDABAD, VEJALPUR vs. AXIS BANK LTD, ELISBRIDGE

In the result, the appeal of the Department is dismissed

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

14A of the Act is allowed. ITA Nos.142&143/Ahd/2024 & 48&49/Ahd/2024 Axis Bank Ltd. vs. ACIT & ACIT vs. Axis Bank Ltd. Asst.Years –2010-11 & 2011-12 - 9– Now we shall come to Department’s appeal for Assessment Year 2010-11 15. The sole/single issue for consideration is regarding the disallowance of ESOP expenses, which was allowed

ACIT, CIRCLE-1(1)(1), AHMEDABAD, VEJALPUR vs. AXIS BANK LIMITED, ELLISBRIDGE

In the result, the appeal of the Department is dismissed

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

14A of the Act is allowed. ITA Nos.142&143/Ahd/2024 & 48&49/Ahd/2024 Axis Bank Ltd. vs. ACIT & ACIT vs. Axis Bank Ltd. Asst.Years –2010-11 & 2011-12 - 9– Now we shall come to Department’s appeal for Assessment Year 2010-11 15. The sole/single issue for consideration is regarding the disallowance of ESOP expenses, which was allowed

AXIS BANK LIMITED,AHMEDABAD vs. THE ACIT., CIRCLE-1(1)(1),, AHMEDABAD

In the result, the appeal of the Department is dismissed

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

14A of the Act is allowed. ITA Nos.142&143/Ahd/2024 & 48&49/Ahd/2024 Axis Bank Ltd. vs. ACIT & ACIT vs. Axis Bank Ltd. Asst.Years –2010-11 & 2011-12 - 9– Now we shall come to Department’s appeal for Assessment Year 2010-11 15. The sole/single issue for consideration is regarding the disallowance of ESOP expenses, which was allowed

AXIS BANK LIMITED,AHMEDABAD vs. THE ACIT., CIRCLE-1(1)(1),, AHMEDABAD

In the result, the appeal of the Department is dismissed

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

14A of the Act is allowed. ITA Nos.142&143/Ahd/2024 & 48&49/Ahd/2024 Axis Bank Ltd. vs. ACIT & ACIT vs. Axis Bank Ltd. Asst.Years –2010-11 & 2011-12 - 9– Now we shall come to Department’s appeal for Assessment Year 2010-11 15. The sole/single issue for consideration is regarding the disallowance of ESOP expenses, which was allowed

THE ACIT, CIRCLE-4(1)(2),, AHMEDABAD vs. M/S. TORRENT POWER LTD.,, AHMEDABAD

3,28,035/- 4. Liquidated damages/rebate Rs. 2,12,47,267/- 5. Sale of scrap Rs. 10,45,41,099 12.1 Nevertheless, the assessee has claimed deduction under section 80IA of the Act by treating them as profit derived from the business of distribution of power. However, the AO disputed the deduction with respect to such items of income. However

THE ACIT, CIRCLE-4(1)(2),, AHMEDABAD vs. M/S. TORRENT POWER LIMITED, AHMEDABAD

3,28,035/- 4. Liquidated damages/rebate Rs. 2,12,47,267/- 5. Sale of scrap Rs. 10,45,41,099 12.1 Nevertheless, the assessee has claimed deduction under section 80IA of the Act by treating them as profit derived from the business of distribution of power. However, the AO disputed the deduction with respect to such items of income. However

LOK PRAKASHAN LIMITED,AHMEDABAD vs. ACIT, CENTRAL CIRCLE-1(3),, AHMEDABAD

The appeal of the Revenue is dismissed accordingly

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita Nos.290 & 291/Ahd/2023 िनधा"रण वष" /Assessment Years : 2017-18 & 2018-19 Respectively Lok Prakashan Limited The Acit बनाम/ Gujarat Samachar Bhavan Central Circle-1(3) V/S. J.P. Chowk, Khanpur Ahmedabad – 380 009 Ahmedabad – 380 001 (अपीलाथ%/ Appellant) ('( यथ%/ Respondent) "थायी लेखा सं./Pan: Aaacl 2742 F

TDS Total After Additions 2,84,90,90,198/- 3,28,35,26,028 Assessed Rounded Off 2,84,90,90,200/- 3,28,35,26,030 Income in Rs. 5. Aggrieved by the order of CIT(A) both the assessee and revenue are in appeal(s) before us with following grounds of appeal: Assessee’s Grounds of appeal

LOK PRAKASHAN LIMITED,AHMEDABAD vs. ACIT, CENTRAL CIRCLE-1(3),, AHMEDABAD

The appeal of the Revenue is dismissed accordingly

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita Nos.290 & 291/Ahd/2023 िनधा"रण वष" /Assessment Years : 2017-18 & 2018-19 Respectively Lok Prakashan Limited The Acit बनाम/ Gujarat Samachar Bhavan Central Circle-1(3) V/S. J.P. Chowk, Khanpur Ahmedabad – 380 009 Ahmedabad – 380 001 (अपीलाथ%/ Appellant) ('( यथ%/ Respondent) "थायी लेखा सं./Pan: Aaacl 2742 F

TDS Total After Additions 2,84,90,90,198/- 3,28,35,26,028 Assessed Rounded Off 2,84,90,90,200/- 3,28,35,26,030 Income in Rs. 5. Aggrieved by the order of CIT(A) both the assessee and revenue are in appeal(s) before us with following grounds of appeal: Assessee’s Grounds of appeal

DCIT, CENTRAL CIRCLE- 1(3), AHMEDABAD vs. M/S LOK PRAKASHAN LTD., AHMEDABAD

The appeal of the Revenue is dismissed accordingly

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita Nos.290 & 291/Ahd/2023 िनधा"रण वष" /Assessment Years : 2017-18 & 2018-19 Respectively Lok Prakashan Limited The Acit बनाम/ Gujarat Samachar Bhavan Central Circle-1(3) V/S. J.P. Chowk, Khanpur Ahmedabad – 380 009 Ahmedabad – 380 001 (अपीलाथ%/ Appellant) ('( यथ%/ Respondent) "थायी लेखा सं./Pan: Aaacl 2742 F

TDS Total After Additions 2,84,90,90,198/- 3,28,35,26,028 Assessed Rounded Off 2,84,90,90,200/- 3,28,35,26,030 Income in Rs. 5. Aggrieved by the order of CIT(A) both the assessee and revenue are in appeal(s) before us with following grounds of appeal: Assessee’s Grounds of appeal

DCIT, CENTRAL CIRCLE - 1(3), AHMEDABAD vs. M/S LOK PRAKASHAN LTD., AHMEDABAD

The appeal of the Revenue is dismissed accordingly

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita Nos.290 & 291/Ahd/2023 िनधा"रण वष" /Assessment Years : 2017-18 & 2018-19 Respectively Lok Prakashan Limited The Acit बनाम/ Gujarat Samachar Bhavan Central Circle-1(3) V/S. J.P. Chowk, Khanpur Ahmedabad – 380 009 Ahmedabad – 380 001 (अपीलाथ%/ Appellant) ('( यथ%/ Respondent) "थायी लेखा सं./Pan: Aaacl 2742 F

TDS Total After Additions 2,84,90,90,198/- 3,28,35,26,028 Assessed Rounded Off 2,84,90,90,200/- 3,28,35,26,030 Income in Rs. 5. Aggrieved by the order of CIT(A) both the assessee and revenue are in appeal(s) before us with following grounds of appeal: Assessee’s Grounds of appeal

INTAS PHARMACEUTICALS LTD.,AHMEDABAD vs. THE DCIT, CIRCLE-2(1)(1), AHMEDABAD

Accordingly, this ground raised by the Revenue is dismissed

Bench: S/Shri T.R. Senthil Kumar & Makarand V.Mahadeokarasstt.Year : 2015-16 Acit, Cir.2(1)(1) M/S.Intas Pharmaceuticals Ltd Vejalpur Vs Corporate House Ahmedabad. S.G. Highway Nr.Sola Bridge, Thaltej Ahmedabad 380 054. Pan : Aaaci 5120 L Asstt.Year : 2015-16 M/S.Intas Pharmaceuticals Ltd Acit, Cir.2(1)(1) Corporate House Vs Vejalpur S.G. Highway Ahmedabad. Nr.Sola Bridge, Thaltej Ahmedabad 380 054. Pan : Aaaci 5120 L (Applicant) (Responent) : Assessee By Shri S.N. Soparkar, Sr.Advocae & Shri Parin Shah, Ar : Shri Ragnesh Das, Cit-Dr Revenue By सुनवाई क" तारीख/Date Of Hearing : 28/04/2025 घोषणा क" तारीख /Date Of Pronouncement: 21/05/2025 आदेश आदेश/O R D E R आदेश आदेश

3,65,68,91,720 Proportionate Interest Disallowance (B × C) ÷ A Amount Disallowed u/s 36(1)(iii) Rs. 11,29,21,996 ITA No.281 and 222/Ahd/2021 43 80. Before the CIT(A), the assessee submitted that the disallowance was unjustified and that it had substantial interest-free funds available throughout the year, far in excess of the average CWIP balance

THE ACIT, CIRCLE-2(1)(1), AHMEDABAD vs. M/S. INTAS PHARMACEUTICALS LTD., AHMEDABAD

Accordingly, this ground raised by the Revenue is dismissed

Bench: S/Shri T.R. Senthil Kumar & Makarand V.Mahadeokarasstt.Year : 2015-16 Acit, Cir.2(1)(1) M/S.Intas Pharmaceuticals Ltd Vejalpur Vs Corporate House Ahmedabad. S.G. Highway Nr.Sola Bridge, Thaltej Ahmedabad 380 054. Pan : Aaaci 5120 L Asstt.Year : 2015-16 M/S.Intas Pharmaceuticals Ltd Acit, Cir.2(1)(1) Corporate House Vs Vejalpur S.G. Highway Ahmedabad. Nr.Sola Bridge, Thaltej Ahmedabad 380 054. Pan : Aaaci 5120 L (Applicant) (Responent) : Assessee By Shri S.N. Soparkar, Sr.Advocae & Shri Parin Shah, Ar : Shri Ragnesh Das, Cit-Dr Revenue By सुनवाई क" तारीख/Date Of Hearing : 28/04/2025 घोषणा क" तारीख /Date Of Pronouncement: 21/05/2025 आदेश आदेश/O R D E R आदेश आदेश

3,65,68,91,720 Proportionate Interest Disallowance (B × C) ÷ A Amount Disallowed u/s 36(1)(iii) Rs. 11,29,21,996 ITA No.281 and 222/Ahd/2021 43 80. Before the CIT(A), the assessee submitted that the disallowance was unjustified and that it had substantial interest-free funds available throughout the year, far in excess of the average CWIP balance

THE DCIT(OSD) RANGE-1,, AHMEDABAD vs. M/S. CORRTECH INTERNATIONAL PVT.LTD.,, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

3. The learned CIT(A) has erred in law as well as on facts in confirming the addition of Rs.39,72,461/- made by the AO while applying the provisions of Section 14A of the IT. Act, 1961 read with Rule 8D of the I.T. Rules, 1962. In view of facts and elaborate submissions filed coupled with settled legal position

CORRTECH INTERNATIONAL PVT.LTD.,,AHMEDABAD vs. DY. COMMISSIONER OF INCOME TAX,(OSD),, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

3. The learned CIT(A) has erred in law as well as on facts in confirming the addition of Rs.39,72,461/- made by the AO while applying the provisions of Section 14A of the IT. Act, 1961 read with Rule 8D of the I.T. Rules, 1962. In view of facts and elaborate submissions filed coupled with settled legal position

CORRTECH INTERNATIONAL PVT.LTD.,,AHMEDABAD vs. THE ACIT.,(OSD)RANGE-1,, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

3. The learned CIT(A) has erred in law as well as on facts in confirming the addition of Rs.39,72,461/- made by the AO while applying the provisions of Section 14A of the IT. Act, 1961 read with Rule 8D of the I.T. Rules, 1962. In view of facts and elaborate submissions filed coupled with settled legal position

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(2),, AHMEDABAD vs. M/S. CORRTECH INTERNATIONAL PVT. LTD.,, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

3. The learned CIT(A) has erred in law as well as on facts in confirming the addition of Rs.39,72,461/- made by the AO while applying the provisions of Section 14A of the IT. Act, 1961 read with Rule 8D of the I.T. Rules, 1962. In view of facts and elaborate submissions filed coupled with settled legal position

THE DCIT(OSD)RANGE-1,, AHMEDABAD vs. CORRTECH INTERNATIONAL PVT.LTD.,, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

3. The learned CIT(A) has erred in law as well as on facts in confirming the addition of Rs.39,72,461/- made by the AO while applying the provisions of Section 14A of the IT. Act, 1961 read with Rule 8D of the I.T. Rules, 1962. In view of facts and elaborate submissions filed coupled with settled legal position