KIFS SECURITIES LTD.,,AHMEDABAD vs. THE JT.CIT, RANGE- 3,, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

TDS as per section 194H on payment in the nature of Sub- brokerage for IPO. 6.The CIT(A) has erred in law and on facts by directing to treat profit from KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 sale of shares held only up to 30 days as business

THE DY. CIT., CIRCLE-3,, AHMEDABAD vs. KHANDWALA INTEGRATED FINANCIAL SERVICES PVT. LTD, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

TDS as per section 194H on payment in the nature of Sub- brokerage for IPO. 6.The CIT(A) has erred in law and on facts by directing to treat profit from KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 sale of shares held only up to 30 days as business

KIFS SECURITIES PVT. LTD.,,AHMEDABAD vs. THE ACIT, CIRCLE-1(3), AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

TDS as per section 194H on payment in the nature of Sub- brokerage for IPO. 6.The CIT(A) has erred in law and on facts by directing to treat profit from KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 sale of shares held only up to 30 days as business

KIFS SECURITIES PVT. LTD.,,AHMEDABAD vs. THE ACIT, CIRCLE-1(3),, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

TDS as per section 194H on payment in the nature of Sub- brokerage for IPO. 6.The CIT(A) has erred in law and on facts by directing to treat profit from KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 sale of shares held only up to 30 days as business

KIFS SECURITIES LTD.,,AHMEDABAD vs. THE JT.CIT, RANGE- 3,, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

TDS as per section 194H on payment in the nature of Sub- brokerage for IPO. 6.The CIT(A) has erred in law and on facts by directing to treat profit from KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 sale of shares held only up to 30 days as business

DY.COMMISSIONER OF INCOME TAX CIRCLE-1(3),, AHMEDABAD vs. KIFS PVT.LTD.,, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

TDS as per section 194H on payment in the nature of Sub- brokerage for IPO. 6.The CIT(A) has erred in law and on facts by directing to treat profit from KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 sale of shares held only up to 30 days as business

KIFS SECURITIES PVT. LTD.,AHMEDABAD vs. THE ACIT, CIRCLE-1(3), AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

TDS as per section 194H on payment in the nature of Sub- brokerage for IPO. 6.The CIT(A) has erred in law and on facts by directing to treat profit from KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 sale of shares held only up to 30 days as business

THE ACIT, CIRCLE-3,, AHMEDABAD vs. KIFS SECURITIES LIMITED,, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

TDS as per section 194H on payment in the nature of Sub- brokerage for IPO. 6.The CIT(A) has erred in law and on facts by directing to treat profit from KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 sale of shares held only up to 30 days as business

CHIRAG MAHENDRABHAI SHAH,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-4(2)(1),, AHMEDABAD

In the result, the appeal filed by the assessee is allowed for statistical purpose

2) and also the assessment year for which such credit may be given." 8 7. Under sub-section (1) of Section 200 any person deducting tax at source would pay within the prescribed time the said sum to the credit of the Central Government under sub-section (3) of Section 200 such person would file periodic statements of tax deducted

SPACE DEVELOPERS,AHMEDABAD vs. THE ITO, WARD-1(1)(3), AHMEDABAD

In the result, the appeal of the assessee stands dismissed

Bench: Smt.Annapurna Gupta & Shri T.R. Senthil Kumarassessment Year : 2023-24 Space Developers The Ito 501, Gurukrupa Avenue, Vs Ward-1(1)(3) Nr. Manekbaug Hall Ahmedabad Ambawadi Ahmedabad – 380 015 (Gujarat) Pan: Absfs 0313 F (Applicant) (Responent) : Assessee By Shri Sakar Sharma, Ar Revenue By : Shri Ketan Gajjar, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 11/11/2024 घोषणा की तारीख /Date Of Pronouncement: 19/11/2024 आदेश/O R D E R

2. The Ld. Addl. CIT (A erred on facts and in law in confirming action of Ld. CPC holding that TDS credit needed to be restricted in view of provisions of Rule 37BA and section 199

THE DCIT, CIRCLE-2(1)(1),, AHMEDABAD vs. GUJARAT APOLLO INDUSTRIES LTD.,, AHMEDABAD

The appeal of the asssessee is partly allowed

199 and 200/Ahd/2013 dated 16th Jan, 2017. The relevant part of the decision of the ITAT is reproduced as under:- “14. We also find that the issue travelled up to the Hon’ble High Court and the Hon’ble High Court was seized with the following substantial question of law:- “[A] Whether the Appellate Tribunal is right

GUJARAT APOLLO INDUSTRIES LIMITED,,AHMEDABAD vs. THE JT. CIT, RANGE-4,, AHMEDABAD

The appeal of the asssessee is partly allowed

199 and 200/Ahd/2013 dated 16th Jan, 2017. The relevant part of the decision of the ITAT is reproduced as under:- “14. We also find that the issue travelled up to the Hon’ble High Court and the Hon’ble High Court was seized with the following substantial question of law:- “[A] Whether the Appellate Tribunal is right

THE DCIT, CIRCLE-2(1)(1),, AHMEDABAD vs. GUJARAT APOLLO INDUSTRIES LTD.,, AHMEDABAD

The appeal of the asssessee is partly allowed

199 and 200/Ahd/2013 dated 16th Jan, 2017. The relevant part of the decision of the ITAT is reproduced as under:- “14. We also find that the issue travelled up to the Hon’ble High Court and the Hon’ble High Court was seized with the following substantial question of law:- “[A] Whether the Appellate Tribunal is right

GUJARAT APOLLO INDUSTRIES LIMITED,,AHMEDABAD vs. THE JT. CIT, RANGE-4,, AHMEDABAD

The appeal of the asssessee is partly allowed

199 and 200/Ahd/2013 dated 16th Jan, 2017. The relevant part of the decision of the ITAT is reproduced as under:- “14. We also find that the issue travelled up to the Hon’ble High Court and the Hon’ble High Court was seized with the following substantial question of law:- “[A] Whether the Appellate Tribunal is right

NIRMA LIMITED,AHMEDABAD vs. THE DCTI , CIRCLE-3(1)(1) NOW DCIT, CENTRAL CIRCLE-2(2), AHMEDABAD

Appeal of the assessee is allowed

Bench: Mrs. Annapurna Gupta & Ms. Suchitra R. Kambleिनधा"रण वष"/Assessment Year: 2013-14 Nirma Limited, The Dy. Commissioner Of Vs. Nirma House, Ashram Road, Income-Tax, Ahmedabad-380 009 Circle-3(1)(1), Pan : Aaacn 5350 K Ahmedabad-380009 अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" "" यथ" "" "" यथ" यथ"/ (Respondent) यथ" Assessee By : Shri Bandish Soparkar, Ar Revenue By : Shri Sanjay Kumar, Sr Dr सुनवाई क" तारीख/Date Of Hearing : 11.07.2024 घोषणा क" तारीख /Date Of Pronouncement: 09.10.2024 आदेश आदेश/O R D E R आदेश आदेश Per Annapurna Gupta: Present Appeal Has Been Filed By The Assessee Against The Order Of The Commissioner Of Income-Tax (Appeals)-12, Ahmedabad [Hereinafter Referred To As "Cit(A)" For Short] Dated 10.04.2023 Passed Under Section 250 Of The Income-Tax Act, 1961 [Hereinafter Referred To As "The Act" For Short], For The Assessment Year (Ay) 2013-14. 2. The Effective Ground Raised By The Assessee Is As Follows:-

2 Nirma Limited Vs. DCIT AY : 2013-14 3. The solitary grievance of the assessee in the present appeal relates to refusal of grant of interest on refund of self-assessment tax in terms of provisions of Section 244A of the Act. The orders of the Revenue Authorities reveal that the same was consistently denied, both by the Assessing Officer

THE DY. CIT, CIRCLE-2(1)(1),, AHMEDABAD vs. M/S. GUJARAT MICROWAX LTD.,, AHMEDABAD

In the result, both of the Appeals of Revenue are partly allowed for statistical purposes

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani

TDS u/s 195 nor the disallowance u/s 40(a)(i) is attracted. Regarding genuineness of commission-payment, we observe that the assessee has given sufficient documentary evidences to prove the services of Page 41 of 51 ITA No.2682 & 2683/Ahd/2016 A.Y. 2011-12 and 2012-13 Gujarat Microwax Pvt. Ltd. agents and payment of commission. It is also observed that

THE DY. CIT, CIRCLE-2(1)(1),, AHMEDABAD vs. M/S. GUJARAT MICROWAX LTD.,, AHMEDABAD

In the result, both of the Appeals of Revenue are partly allowed for statistical purposes

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani

TDS u/s 195 nor the disallowance u/s 40(a)(i) is attracted. Regarding genuineness of commission-payment, we observe that the assessee has given sufficient documentary evidences to prove the services of Page 41 of 51 ITA No.2682 & 2683/Ahd/2016 A.Y. 2011-12 and 2012-13 Gujarat Microwax Pvt. Ltd. agents and payment of commission. It is also observed that

MIRANT NAVINBHAI PARIKH,VADODARA vs. THE DCIT ,CIRCLE INT.TAXA., VADODARA

In the result, the appeal of the assessee is allowed

Bench: Smt. Annapurna Gupta, Accountnat Member & Shri T.R.Senthil Kumar

2) and also the assessment year for which such credit may be given." 7. Under sub-section (1) of Section 200 any person deducting tax at source would pay within the prescribed time the said sum to the credit of the Central Government under sub-section (3) of Section 200 such person would file periodic statements of tax deducted