AURA SECURITIES PVT. LTD.,AHMEDABAD vs. DY. COMMISSIONER OF INCOME TAX,, AHMEDABAD

In the result the appeal of the assessee is allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No.834/Ahd/2012 "नधा"रण वष"/Asstt. Year: 2008-2009 Dcit, Aura Securities Pvt. Ltd. Circle-1, V Akhay Building, B/H, Vadilal Ahmedabad. S. House, 53, Shrimali Society, Navrangpura, Ahmedabad-380009 Pan: Aabct4637N आयकर अपील सं./Ita No.986/Ahd/2012 िनधा"रण वष"/Asstt. Year: 2008-2009 Aura Securities Pvt. Ltd. Acit, Akhay Building, B/H, Vadilal Vs. Circle-1, House, 53, Shrimali Society, Ahmedabad. Navrangpura, Ahmedabad-380009 Pan: Aabct4637N

vii) to section 56(2) of the Act. However, on reading the same, we note that the tax liability, if any arises will be applicable in the hands of the recipient and no liability, can be imposed on the transferor. Therefore, we are of the view that the assessee being the transferor of shares cannot be subject

ADANI AGRO PVT. LTD.,,AHMEDABAD vs. THE DY.CIT.,CIRCLE-1,, AHMEDABAD

In the result, the assessee appeal is thus allowed

Bench: Shri O. P. Meena& Ms. Madhumita Roy

vii) to section 56(2) of the Act. However, on reading the same, we note that the tax liability, if any arises will be applicable in the hands of the recipient and no liability, can be imposed on the transferor. Therefore, we are of the view that the assessee being the transferor of shares cannot be subject

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

vii). The CIT(A) has not appreciated the fact that the provisions of section 36(2) are not satisfied since the said amount of Rs. 1. 58 crores was never accounted for as income by the assessee. 4.The CIT(A) has erred in law and on facts by deleting the addition to the extent of Rs.2.68 lacs

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

vii). The CIT(A) has not appreciated the fact that the provisions of section 36(2) are not satisfied since the said amount of Rs. 1. 58 crores was never accounted for as income by the assessee. 4.The CIT(A) has erred in law and on facts by deleting the addition to the extent of Rs.2.68 lacs

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

vii). The CIT(A) has not appreciated the fact that the provisions of section 36(2) are not satisfied since the said amount of Rs. 1. 58 crores was never accounted for as income by the assessee. 4.The CIT(A) has erred in law and on facts by deleting the addition to the extent of Rs.2.68 lacs

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

vii). The CIT(A) has not appreciated the fact that the provisions of section 36(2) are not satisfied since the said amount of Rs. 1. 58 crores was never accounted for as income by the assessee. 4.The CIT(A) has erred in law and on facts by deleting the addition to the extent of Rs.2.68 lacs

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

vii). The CIT(A) has not appreciated the fact that the provisions of section 36(2) are not satisfied since the said amount of Rs. 1. 58 crores was never accounted for as income by the assessee. 4.The CIT(A) has erred in law and on facts by deleting the addition to the extent of Rs.2.68 lacs

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

vii). The CIT(A) has not appreciated the fact that the provisions of section 36(2) are not satisfied since the said amount of Rs. 1. 58 crores was never accounted for as income by the assessee. 4.The CIT(A) has erred in law and on facts by deleting the addition to the extent of Rs.2.68 lacs

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

vii). The CIT(A) has not appreciated the fact that the provisions of section 36(2) are not satisfied since the said amount of Rs. 1. 58 crores was never accounted for as income by the assessee. 4.The CIT(A) has erred in law and on facts by deleting the addition to the extent of Rs.2.68 lacs

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

vii). The CIT(A) has not appreciated the fact that the provisions of section 36(2) are not satisfied since the said amount of Rs. 1. 58 crores was never accounted for as income by the assessee. 4.The CIT(A) has erred in law and on facts by deleting the addition to the extent of Rs.2.68 lacs

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

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

56,225/- @ 3.79% . In respect of branch office at Kota it had declared turnover of Rs. 27,71,90,091/- and disclosed gross profit at Rs. 17,13,359/- @ 0.62%. In the immediately preceding year the assessee has disclosed gross profit of head office at Rs. 1,08,26,357/- on total turnover

SUN PHARMACEUTICALS INDUSTRIES LIMITED,,VADODARA vs. THE ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1)(1), BARODA

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

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

bogus purchases based on the information received from Department of Sales Tax, Maharashtra without considering the evidences and explanations provided by the Appellant and without giving the basis for such allegations and an opportunity to cross examine the defaulting parties to the Appellant. ITA No. 1462, 1463, 1519 & 1520/Ahd/2018 [Sun Pharma Laboratories

SUN PHARMACEUTICALS INDUSTRIES LIMITED,,VADODARA vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1)(1), BARODA

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

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

bogus purchases based on the information received from Department of Sales Tax, Maharashtra without considering the evidences and explanations provided by the Appellant and without giving the basis for such allegations and an opportunity to cross examine the defaulting parties to the Appellant. ITA No. 1462, 1463, 1519 & 1520/Ahd/2018 [Sun Pharma Laboratories

DCIT, CIRCLE-2(1)(1),, BARODA vs. M/S. SUN PHARMACEUTICALS INDUSTRIES LTD. , BARODA

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

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

bogus purchases based on the information received from Department of Sales Tax, Maharashtra without considering the evidences and explanations provided by the Appellant and without giving the basis for such allegations and an opportunity to cross examine the defaulting parties to the Appellant. ITA No. 1462, 1463, 1519 & 1520/Ahd/2018 [Sun Pharma Laboratories

DCIT, CIRCLE-2(1)(1),, BARODA vs. M/S. SUN PHARMACEUTICALS INDUSTRIES LTD. , BARODA

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

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

bogus purchases based on the information received from Department of Sales Tax, Maharashtra without considering the evidences and explanations provided by the Appellant and without giving the basis for such allegations and an opportunity to cross examine the defaulting parties to the Appellant. ITA No. 1462, 1463, 1519 & 1520/Ahd/2018 [Sun Pharma Laboratories

TRUSHAR PARIMAL SHAH,,BHAVNAGAR vs. ITO, WARD-1(3),, BHAVNAGAR

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

Bench: Shri Kul Bharat & Shri Waseem Ahmedआयकर अपील सं./Ita No. 268/Ahd/2018 ("नधा"रण वष"/Assessment Year :2013-14) बनाम/ Trushar Parimal Shah The Income Tax 354, Madhav Darshan Officer Vs. Waghawadi Road Ward-1(3) Bhavnagar-364 002 Bhavnagar "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Axwps5561M (अपीलाथ"/Appellant) (""यथ" / Respondent) .. अपीलाथ" ओर से/ Appellant By : Shri Tushar P. Hemani, Ar ""यथ" क" ओर से/Respondent By: Shri Nilabra Dasgupta, Sr.Dr सुनवाई क" तार"ख/ Date Of Hearing 29/08/2019 घोषणा क" तार"ख /Date Of Pronouncement 01/10/2019 आदेश / O R D E R Per Bench:

bogus purchases would meet ends of justice. 9. On the other hand, the Ld. DR before us vehemently supported the order of the authorities below. 10. We have heard the rival contentions of both the parties and perused the materials available on record. The AO in the instant case has treated the purchases from the 2 parties namely Impex Sales

THE DY. CIT, CIRCLE-1(1)(2),, AHMEDABAD vs. JMC PROJECTS (INDIA) LIMITED,, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

vii) were not met. The CIT(A) allowed the write-off, finding that the debt had indeed become irrecoverable. Bogus Purchases The AO disallowed certain purchases, considering them bogus transactions without supporting documentation. The CIT(A), however, allowed the purchases as genuine after reviewing evidence submitted by the assessee. Gift, Boni, and Chandla The AO disallowed these expenses

THE DY. CIT, CIRCLE-1(1)(2),, AHMEDABAD vs. JMC PROJECTS (INDIA) LIMITED,, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

vii) were not met. The CIT(A) allowed the write-off, finding that the debt had indeed become irrecoverable. Bogus Purchases The AO disallowed certain purchases, considering them bogus transactions without supporting documentation. The CIT(A), however, allowed the purchases as genuine after reviewing evidence submitted by the assessee. Gift, Boni, and Chandla The AO disallowed these expenses

JMC PROJECTS (INDIA) LTD.,,AHMEDABAD vs. THE ACIT.,(OSD)-I,RANGE-4,, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

vii) were not met. The CIT(A) allowed the write-off, finding that the debt had indeed become irrecoverable. Bogus Purchases The AO disallowed certain purchases, considering them bogus transactions without supporting documentation. The CIT(A), however, allowed the purchases as genuine after reviewing evidence submitted by the assessee. Gift, Boni, and Chandla The AO disallowed these expenses