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 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 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 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

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

DUSHYANTSINH YADVENDRASINH CHUDASAMA,VADODARA vs. INCOME TAX OFFICER, WARD-1(2)(4), VADODARA

In the result, both the appeals of the assessee are allowed for statistical purposes

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita Nos.353/Ahd/2022 & 354/Ahd/2022 िनधा"रण वष" /Assessment Years : 2014-15 & 2015-16 Respectively Dushyantsinh Yadvendrasinh The Dy.Commissioner Of बनाम/ Chudasama Income Tax V/S. C/O.Anil R. Shah (Ca), Circle -1 (2) Shreeji House, 4Th Floor Vadodara – 390 007 B/H. M.J. Library Ahmedabad - 380 006 "थायी लेखा सं./Pan: Acrpc 1888 M (अपीलाथ%/ Appellant) (&' यथ%/ Respondent) Assessee By : Kinjal Shah, Ar Revenue By : Shri Rignesh Das, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 12 /03/2025 घोषणा की तारीख /Date Of Pronouncement: 19 /03/2025 आदेश/O R D E R Per Makarand V. Mahadeokar, Am:

TDS. The AO also made an addition of Rs.69,709/- under Section 43B of the Act for unpaid VAT liability

DUSHYANTSINH YADVENDRASINH CHUDASAMA,VADODARA vs. DY.COMM. OF INCOME TAX, CIRCLE-1(2), VADODARA

In the result, both the appeals of the assessee are allowed for statistical purposes

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita Nos.353/Ahd/2022 & 354/Ahd/2022 िनधा"रण वष" /Assessment Years : 2014-15 & 2015-16 Respectively Dushyantsinh Yadvendrasinh The Dy.Commissioner Of बनाम/ Chudasama Income Tax V/S. C/O.Anil R. Shah (Ca), Circle -1 (2) Shreeji House, 4Th Floor Vadodara – 390 007 B/H. M.J. Library Ahmedabad - 380 006 "थायी लेखा सं./Pan: Acrpc 1888 M (अपीलाथ%/ Appellant) (&' यथ%/ Respondent) Assessee By : Kinjal Shah, Ar Revenue By : Shri Rignesh Das, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 12 /03/2025 घोषणा की तारीख /Date Of Pronouncement: 19 /03/2025 आदेश/O R D E R Per Makarand V. Mahadeokar, Am:

TDS. The AO also made an addition of Rs.69,709/- under Section 43B of the Act for unpaid VAT liability

ARVIND LIFESTYLE BRANDS LTD.,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(2),, AHMEDABAD

In the result the appeal filed by the assessee is partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedsl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1817/Ahd/2016 2012-13 Arvind Lifestyle Brands D.C.I.T, Ltd., Circle-1(1)(2), Arvind Mills Premises, Ahmedabad. Naroda Road, Ahmedabad-380025. Pan No. Aaach7252A 2. 2056/Ahd/2016 2012-13 D.C.I.T, Arvind Lifestyle Circle-1(1)(2), Brands Ltd., Ahmedabad. 3. 2377/Ahd/2017 2013-14 Arvind Lifestyle Brands D.C.I.T, Ltd., Circle-1(1)(2), Ahmedabad. 4. 2618/Ahd/2017 2014-15 Arvind Lifestyle Brands Ito Ward-1(1)(3) Ltd., Ahmedabad

Section 43B), there really could be no reason for refusing deduction for employees' contribution as long as payment was made before the due date for filing the income-tax return; (b) that the appellant's contention found support from several authorities to which it had referred in its appellate proceedings. In law and in the facts and circumstances

SAFAL HOSPITALITY AND MAINTANANCE SERVICE,AHMEDABAD vs. THE DCIT, CIRCLE-3(1)(2), AHMEDABAD

In the result, the appeal of the assessee is partly allowed for statistical purposes

Bench: Ms. Suchitra Kamble (Judicial Member)

43B of the Income Tax Act. 1.4 In view of above, the appellant relied upon the following judgements (A) CIT v Rajasthan State Beverages Corporation Ltd (2017) 84 taxmann com 173 SLP filled by the Revenue department before Supreme Court has been rejected/dismissed in (2017) 250 Taxman 16 (SC) (B)Essae Teraoka

STHAPATI ARCHITECTURE AND INTERIORS PVT.LTD.,,AHMEDABAD vs. DY. COMMISSIONER OF INCOME TAX,, AHMEDABAD

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

Bench: Shri Waseem Ahmed & Shri Mahavir Prasadआयकर अपील सं./I.T.A. No.2361/Ahd/2015 ("नधा"रण वष" / Assessment Year : 2011-12) Sthapati Architecture & Dcit, बनाम/ Interiors Pvt. Ltd., Circle – 8, Vs. 502, New York Plaza, Ahmedabad. Opp. Judges Bunglow, Satellite, Ahmedabad – 380015 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aahcs 8758 F .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Shri Sakar Sharma, C.A. अपीलाथ" ओर से / Appellant By : ""यथ" क" ओर से/Respondent By : Shri T. Sankar, Sr. D.R.

43B of the Income Tax Act, 1961 ('the Act') do not apply to "employees' contribution to ESI/PF" and the deduction in respect of the same is allowable only if such contribution is deposited within the 'due date' specified in Explanation to section 36(1)(va) of the Act. While ruling in favour of the Revenue, the High Court distinguished

CB DOCTOR VENTILATORS PRIVATE LIMITED,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-1(3),, AHMEDABAD

In the result, appeal filed by the assessee is dismissed

Bench: Shri N.K. Billaiya & Shri Mahavir Prasad

43B and explanation there-under. (c) The learned Commissioner of Income Tax (Appeals) has erred in law and on facts of the case in confirming the impugned disallowance in utter disregard to the ratio of the judgments of the Supreme Court, High Court and ITAT in following judicial pronouncements: a) CIT vs. Vinay Cement Company Limited

AARVEE DENIMS & EXPORTS LTD.,AHMEDABAD vs. THE PR. CIT, AHMEDABAD-1, AHMEDABAD

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

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita No.396/Ahd/2024 िनधा"रण वष" /Assessment Year : 2018-19 Aarvee Denims & Exports Ltd. The Pr.Cit बनाम/ 191, Shahwadi Ahmedabad-1 V/S. Narol–Sarkhej Highway Ahmedabad – 382 405 (Gujarat) "थायी लेखा सं./Pan: Aabca 6019 P (अपीलाथ&/ Appellant) ('( यथ&/ Respondent) Assessee By : Shri Divyakant Parikh, Ar Revenue By : Shri Prithviraj Meena, Cit-Dr सुनवाई की तारीख/Date Of Hearing : 19/09/2024 घोषणा की तारीख /Date Of Pronouncement: 27/09/2024 आदेश/O R D E R Per Makarand V. Mahadeokar, Am:

TDS on foreign commission. The gross total income was computed at Rs.12,04,36,098/-, against which the assessee claimed a deduction of Rs.12,04,36,098/- under section 80IA of the Act, resulting in NIL taxable income. 2.1. Subsequently, the PCIT invoked the revisionary jurisdiction under Section 263, holding that the assessment order was erroneous and prejudicial

P. K. PARIKH, HUF,VADODARA vs. THE ITO, WARD-3(1)(1), VADODARA

In the result, the appeal of the assessee is allowed

Bench: Or During The Hearing Of This Appeal.

section 43B of Rs. 59,93,050/- 2. The appellant craves, leave or reserving the right to amend, modify, alter, add or forego any ground(s) of appeal at any time before or during the hearing of this appeal. Total effect (see note below) 2,00,459/- 3. The assessee filed return of income for assessment year

INTAS BIOPHARMACEUTICALS LTD.,,AHMEDABAD vs. THE DY.COMMISSIONER OF INCOME TAX, R-2(1)(1),, AHMEDABAD

In the result, appeal of the assessee is partly allowed for statistical purpose

Bench: Ms. Suchitra Kamble & Shri Makarand Vasant Mahadeokarassessment Year: 2012-13

TDS and taxes paid. 15. In law and in the facts and circumstances of the appellant's case, the learned Assessing Officer has grossly erred and the Ld. CIT A has erred in confirming in giving direction to charge interest u/s.234A; 2348; 234C and 234D when no such interest is chargeable. 16. In law and in the facts and circumstances

THE ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), AHMEDABAD vs. SANKALP RECREATION PVT. LTD., AHMEDABAD

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokar

TDS non-compliance. This is consistent with judicial principles that when profit is computed based on estimation, it covers all aspects of the business, including potential violations. 13.2. We also find that the 12% Net Profit Rate (NPR) applied by the CIT(A) is reasonable, given the nature of the case. The assessee was found to have engaged in unaccounted

SANKALP RECREATION PRIVATE LIMITED,AHMEDABAD vs. THE ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), AHMEDABAD

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokar

TDS non-compliance. This is consistent with judicial principles that when profit is computed based on estimation, it covers all aspects of the business, including potential violations. 13.2. We also find that the 12% Net Profit Rate (NPR) applied by the CIT(A) is reasonable, given the nature of the case. The assessee was found to have engaged in unaccounted