CHIRAG ISHWARBHAI PATEL,AHMEDABAD vs. THE ITO, WARD-7(2)(1), AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No. 1182 & 1192/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2010-11 Chirag Ishwarbhai Patel, I.T.O., 49 Dharamanth Prabhu Society, Vs. Ward-3(3)(6), Near Adishawar Society, Ahmedabad. Nikol Road, Naroda, Ahmedabad.

2) of the Act was not issued upon him. Accordingly, the assessee claimed that the assessment framed under section 143(3) read with section 147 of the Act vide order dated 01-11-2017 is not sustainable and thus liable to be quashed. However the learned CIT(A) rejected the contention of the assessee by observing as under: 2.3, / have

THE ITO, WARD-2(1)(1),, AHMEDABAD vs. M/S. GUJARAT TERCE LABORATORIES LTD.,, AHMEDABAD

The appeal of the Revenue are allowed

2. The assessee company is engaged in trading of polished diamond. The assessee company showed turnover of Rs. 1,86,36,447/- and gross profit of Rs. 1,93,105/- which comes to 1.03%. During the assessment proceedings, the details of purchase was called for and the list of purchase parties was submitted by the company. During the assessment proceedings

THE ACIT, CIRCLE-2(1)(1),, AHMEDABAD vs. M/S. GUJARAT TERCE LABORATORIES LTD.,, AHMEDABAD

The appeal of the Revenue are allowed

2. The assessee company is engaged in trading of polished diamond. The assessee company showed turnover of Rs. 1,86,36,447/- and gross profit of Rs. 1,93,105/- which comes to 1.03%. During the assessment proceedings, the details of purchase was called for and the list of purchase parties was submitted by the company. During the assessment proceedings

THE ITO, WARD-2(1)(1),, AHMEDABAD vs. M/S. GUJARAT TERCE LABORATORIES LTD.,, AHMEDABAD

The appeal of the Revenue are allowed

2. The assessee company is engaged in trading of polished diamond. The assessee company showed turnover of Rs. 1,86,36,447/- and gross profit of Rs. 1,93,105/- which comes to 1.03%. During the assessment proceedings, the details of purchase was called for and the list of purchase parties was submitted by the company. During the assessment proceedings

RAJENDRAKUMAR CHHANALAL SHAH,MEHSANA vs. THE ITO, WARD-1, PATAN

In the result, the appeal of the assessee is allowed

Bench: Dr. B.R.R. Kumar, Vice-Shri T.R. Senthil Kumar

31- 03-2021 was shown in closing stock and sold in next year. 5. The purchase transactions with these two Parties are not dubious or doubtful transactions but they are genuine and real transactions. They are not Bogus Purchases to inflate the purchases but they are real purchases accounted in my books of account. 5.4 Thus assessee has produced

THE JT. CIT, RANGE-9,, AHMEDABAD vs. M/S. UNIQUE METROPOILS,, AHMEDABAD

In the result, Ground Nos

bogus purchases calculated at 12.5% of the purchases which is excessive when no such disallowance is called. The ld. Authorized Representative of the assessee reiterated that assessee had provided all details and evidences and vide reply dated 24-02- 2014, copy of PAN card of parties, confirmation of ledger account duly signed by parties, copies of invoices and delivery challan

M/S. UNIQUE METROPOLIS,,AHMEDABAD vs. JT.COMMISSIONER OF INCOME TAX,RANGE-9,, AHMEDABAD

In the result, Ground Nos

bogus purchases calculated at 12.5% of the purchases which is excessive when no such disallowance is called. The ld. Authorized Representative of the assessee reiterated that assessee had provided all details and evidences and vide reply dated 24-02- 2014, copy of PAN card of parties, confirmation of ledger account duly signed by parties, copies of invoices and delivery challan

JT. CIT (OSD), CIRCLE-3(1)(1),, AHMEDABAD vs. M/S. PRADIP OVERSEAS LTD., AHMEDABAD

In the result, the appeal of the revenue is dismissed

2,83,77,87,618/- as not reliable and paper purchases. The A.O. concluded that the benefit derived by the assessee from, such bogus circular paper purchase bills can be around 5% and disallowed Rs. 14,18,89,380/- of purchases. 4.3.1 In assessment proceedings and before me in appellate proceedings, the appellant submitted that: (i) In circular trading, there

M/S. GSP CROP SCIENCE PVT. LTD.,,AHMEDABAD vs. THE DCIT, CIRCLE-2(1)(1),, AHMEDABAD

In the result, both the appeals of the assessee are partly allowed

Bench: Smt.Annapurna Gupta & Shri Siddhartha Nautiyal

31-3-2016, and hence the assessee’s in-house R&D facility was not approved for the impugned year, i.e A.Y 2013-14. 7. In view of the same, we see no reason to interfere in the order of the ld.CIT(A) upholding the disallowance of claim of weighted deduction to the assessee under section

M/S. GSP CROP SCIENCE PVT. LTD.,,AHMEDABAD vs. THE DCIT, CIRCLE-2(1)(1),, AHMEDABAD

In the result, both the appeals of the assessee are partly allowed

Bench: Smt.Annapurna Gupta & Shri Siddhartha Nautiyal

31-3-2016, and hence the assessee’s in-house R&D facility was not approved for the impugned year, i.e A.Y 2013-14. 7. In view of the same, we see no reason to interfere in the order of the ld.CIT(A) upholding the disallowance of claim of weighted deduction to the assessee under section

MARUTI METAL INDUSTRIES,,BHAVNAGAR vs. THE JT. CIT, RANGE-1,, BHAVNAGAR

In the result, the appeal of the assessee is partly allowed

section 143(3) of the Income Tax Act, 1961; in short “the Act”. 2. The assessee has raised the following grounds of appeal:- I.T.A No. 2457/Ahd/2014 A.Y. 2010-11 Page No 2 Maruti Metal Industries vs. Joint CIT “1. The Ld. CIT (A) erred on facts and in law in confirming addition of Rs. 1,22,715/- for undervaluation

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

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

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

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

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

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

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

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

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

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

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

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

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

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

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

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either