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

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

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

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 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

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 ACIT, CIRCLE-2(1)(2),, AHMEDABAD vs. M & B ENGINEERING LIMITED,, AHMEDABAD

In the result, the revenue’s appeal is thus dismissed

Bench: Shri Pramod Kumar & Ms. Madhumita Roy

2)(b) read with section 9(1)(i) of Income Tax Act. 2.16. Regarding the issue of obtaining no deduction certificate under section 195 it is seen that for the applicability of the provisions of this section, the sum must be chargeable under the provisions of the income tax Act. Section 195 provides for deduction of tax by the person

DCIT, CIRCLE-2 (1)(2),, AHMEDABAD vs. M/S. JAGSON COLORCHEM LTD.,, AHMEDABAD

In the result, both the appeals of the revenue and the cross objection of the assessee are dismissed

Bench: Shri Pradip Kumar Kedia & Shri Madhumita Royआयकर अपील सं. Ita No.112/Ahd/2017 With Co No. 32/Ahd/2017 "नधा"रण वष" /Asstt. Years: 2013-14

TDS u/s. 195 has arisen in the hands of the appellant. The detailed discussion in this regard has been made in CIT[A)'s appellate order for A. Y. 2010-11 in appellant's own case which has been reproduced in the preceding paras of this order and following the same, the disallowance of commission payment is found not correct

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

In the result, Revenue’s appeal stands dismissed

Bench: Shri Waseem Ahmed & Shri Mahavir Prasadआयकर अपील सं./I.T.A. No.2503/Ahd/2016 ("नधा"रण वष" / Assessment Year : 2013-14) Dcit, M/S. Gujarat Microwax बनाम/ Cir – 2(1)(1), Pvt. Ltd., Vs. Ahmedabad. 401 & 02, Sarthik Square, Sarkhej Gandhinagar Highway, Bodakdev, Ahmedabad – 380 054 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacg 5593 P .. (अपीलाथ" /Appellant) (""यथ" / Respondent) अपीलाथ" ओर से / Appellant By : Dr. Jayant Jhveri, Sr.D.R. ""यथ" क" ओर से/Respondent By : Shri G.C. Pipara, C.A.

2)(b) read with section 9 [l)[ij of Income Tax Act. 2.18. The last issue which is to be adjudicated is that whether the commission payment was genuine and the services were rendered. The AO has briefly dealt with the issue in para - 4 of assessment order. It has placed on record several documents which indicate that the agents

THE ITO, WARD-1(1)(2),, AHMEDABAD vs. M/S. BAJAJ HERBALS PVT. LTD.,, AHMEDABAD

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

Bench: Shri Waseem Ahmed& Ms. Madhumita Roy

TDS has not been deducted is disallowed u/s 40(a)(ia) of the IT Act and added to the total income. On the other hand the appellant ahs submitted that payee has accounted for these payments in his books of accounts, financial statements and the same have been offered for tax in his Return of Income for the period

THE DCIT, PANCHMAHAL CIRCLE,, PANCHMAHAL vs. THE PANCHMAHAL STEEL LTD.,, PANCHMAHAL

In the result, appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Amarjit Singhआयकर अपील सं./ Ita No.634/Ahd/2017 "नधा"रण वष"/Asstt. Year: 2013-2014 Dcit, Panchmahal Circle Vs. The Panchmahal Steel Ltd. Godhra 389 001. Gidc, Kalol Dist: Panchmahal,Gujarat.

2) was issued and served upon the assessee. On scrutiny of the accounts, it revealed to the AO that the assessee had claimed expenditure of commission payment of Rs.1,05,98,558/- in foreign currency. The ld.AO has confronted the assessee to show as to whether it has deducted TDS on such commission payment. If not, then why it should

THE DCIT, CIRCLE-1(3),, AHMEDABAD vs. M/S. SHAH INVESTORS HOME LTD.,, AHMEDABAD

In the result, the appeal of the revenue is dismissed and cross

section 36(2) of the act were not complied with and hence the assessee’s claim of bad debt was not allowable. 4. Aggrieved assessee has filed appeal before the ld. CIT(A). The ld. CIT(A) has allowed the appeal of the assessee stating that the issue in the case is covered 5. We have heard the rival contentions

NAVRANGPURA ORGANISERS & DEV. PVT. LTD.,,AHMEDABAD vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1)(1),, AHMEDABAD

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

TDS ought to be granted in this very year. After taking into consideration well reasoned finding of the ld.CIT(A), we do not find any force in this grounds of appeal. It is rejected. 36. Ground no.6: In this ground of appeal, grievance of the assessee is that the ld.CIT(A) has erred in confirming the addition of Rs.95

NAVRATNA ORGANISERS & DEV. PVT. LTD.,AHMEDABAD vs. THE ACIT, CENT. CIRCLE 1(1),, AHMEDABAD

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

TDS ought to be granted in this very year. After taking into consideration well reasoned finding of the ld.CIT(A), we do not find any force in this grounds of appeal. It is rejected. 36. Ground no.6: In this ground of appeal, grievance of the assessee is that the ld.CIT(A) has erred in confirming the addition of Rs.95

THE DCIT, CIRCLE-1(3), , AHMEDABAD vs. SHAH INVESTORS HOME LTD,, AHMEDABAD

In the result, both the appeals of the Revenue are dismissed

Bench: Shri Mahavir Prasad & Shri Amarjit Singh)

TDS u/s. 194C rather assessee ought to have deducted tax u/s. 194J of the Act and made the disallowance of Rs. 61,54,512/- u/s. 40(a)(ia) of the Act. 5. Thereafter assessee preferred first statutory appeal before the ld. CIT(A) who granted relief to the assessee. 6. Now Revenue has come before us by way of second

ARVIND FASHIONS LIMITED,AHMEDABAD vs. THE PCIT, AHMEDABAD-1, AHMEDABAD

In the result, the appeal filed by the Assessee is allowed

Bench: DR. BRR Kumar (Vice President), Shri T. R. Senthil Kumar (Judicial Member)

TDS was deducted as and when the final bills were received. Considering the above, no error has been committed by the learned CIT (A) as well as the learned Tribunal in deleting the dis- allowance. We are in complete agreement with the view taken by the learned Tribunal as well as the learned CIT (A). 20.6 Respectfully following the above

SHELL INTERNATIONAL B.V., ,MUMBAI vs. THE ACIT, INTL. TAXN.-1,, AHMEDABAD

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

TDS (INR 51,34, 571/-) 42. Before us, the Counsel for the assessee submitted that ground number 6 is not being pressed, since this issue has been rectified by way of subsequent order under Section 154 of the Act. 43. Accordingly, ground number 6 of the assessee’s appeal is dismissed as not pressed. 44. Ground