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

addition of Rs.1.11 crores to the book profit of the Short Term and Long Term Capital Gains earned from sale of shares of Adani Enterprises. Assessee has claimed that the impugned amount of capital gain forms part of the 62 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 income

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

addition of Rs.1.11 crores to the book profit of the Short Term and Long Term Capital Gains earned from sale of shares of Adani Enterprises. Assessee has claimed that the impugned amount of capital gain forms part of the 62 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 income

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

addition of Rs.1.11 crores to the book profit of the Short Term and Long Term Capital Gains earned from sale of shares of Adani Enterprises. Assessee has claimed that the impugned amount of capital gain forms part of the 62 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 income

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

addition of Rs.1.11 crores to the book profit of the Short Term and Long Term Capital Gains earned from sale of shares of Adani Enterprises. Assessee has claimed that the impugned amount of capital gain forms part of the 62 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 income

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

addition of Rs.1.11 crores to the book profit of the Short Term and Long Term Capital Gains earned from sale of shares of Adani Enterprises. Assessee has claimed that the impugned amount of capital gain forms part of the 62 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 income

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

addition of Rs.1.11 crores to the book profit of the Short Term and Long Term Capital Gains earned from sale of shares of Adani Enterprises. Assessee has claimed that the impugned amount of capital gain forms part of the 62 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 income

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

addition of Rs.1.11 crores to the book profit of the Short Term and Long Term Capital Gains earned from sale of shares of Adani Enterprises. Assessee has claimed that the impugned amount of capital gain forms part of the 62 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 income

THE ACIT, CIRCLE-7(1),, AHMEDABAD vs. SHRI KETAN V. SHAH,, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकरअपीलसं./Itano.3288/Ahd/2016 िनधा"रणवष"/Asstt. Year: 2013-2014

addition of short term capital gain of Rs. 24, 26, 5347-and long term capital gain of Rs.82,32,625/- as business income

M/S. CHANDAN INFRATECH LIMITED,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-1(3),, AHMEDABAD

income and concluded that the assessee has not followed FIFO to determine the profits whereas the assessee is following FIFO method for accounting of shares. In fact the Short Term Capital I.T.A No. 1597/Ahd/2016 A.Y. 2011-12 Page No 10 M/s. Chandan Infratech Ltd. vs. ITO Gain working given by the assessee as clearly adopted the FIFO method which

SHRI ASHOKKUMAR KHIMRAJ,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-3(1), AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Smt Madhumita Royआयकर अपील सं./I.T.A. No. 1247/Ahd/2015 ("नधा"रण वष" / Assessment Year : 2006-07) Shri Ashokkumar Khimraj Ito, बनाम/ Prop. Ridhi Siddhi Ward – 3(1), Vs. Enterprises, 21, Shitalkunj Ahmedabad. Society, Rambaug Road, Ahmedabad. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Afdpk 6404 N .. (अपीलाथ"/Appellant) (""यथ" / Respondent) Shri Parin Shah, A.R. अपीलाथ" ओर से/ Appellant By : Shri Vinod Talwani, Sr. D.R. ""यथ" क" ओर से/Respondent By:

addition made by the AO treating the Short Term Capital Gain of Rs. 9,61,606/- and long-term capital gain 25,471/- respectively as business income

GUJARAT FLUROCHEMICALS LIMITED,,BARODA vs. THE DY.CIT, CIRCLE-1(1),, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

income, but on protective ITA No.1379 and 1380/Ahd/2009 and 13 Others Gujarat Fluorochemicals Ltd. Vs. ACIT basis, he disallowed expenditure of Rs.62,56,732/- out of professional fees and Rs.1,11,47,627/- on account of interest expenses. He observed that if at any appellate stage the same is held taxable under the heading “capital gain” then disallowance under section

GUJARAT FLUOROCHEMEICALS LTD,,BARODA vs. THE DY.CIT.,CIRCLE-1(1)(1),, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

income, but on protective ITA No.1379 and 1380/Ahd/2009 and 13 Others Gujarat Fluorochemicals Ltd. Vs. ACIT basis, he disallowed expenditure of Rs.62,56,732/- out of professional fees and Rs.1,11,47,627/- on account of interest expenses. He observed that if at any appellate stage the same is held taxable under the heading “capital gain” then disallowance under section

THE DCIT, CIRCLE-1(1),, BARODA vs. GUJARAT FLUROCHEMICALS LTD.,, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

income, but on protective ITA No.1379 and 1380/Ahd/2009 and 13 Others Gujarat Fluorochemicals Ltd. Vs. ACIT basis, he disallowed expenditure of Rs.62,56,732/- out of professional fees and Rs.1,11,47,627/- on account of interest expenses. He observed that if at any appellate stage the same is held taxable under the heading “capital gain” then disallowance under section

THE ADDL.CIT, RANGE-1, BARODA vs. GUJARAT FLUOROCHEMEICALS LTD, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

income, but on protective ITA No.1379 and 1380/Ahd/2009 and 13 Others Gujarat Fluorochemicals Ltd. Vs. ACIT basis, he disallowed expenditure of Rs.62,56,732/- out of professional fees and Rs.1,11,47,627/- on account of interest expenses. He observed that if at any appellate stage the same is held taxable under the heading “capital gain” then disallowance under section

GUJARAT FLUROCHEMICALS LIMITED,,BARODA vs. THE ADDL. CIT, RANGE-1,, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

income, but on protective ITA No.1379 and 1380/Ahd/2009 and 13 Others Gujarat Fluorochemicals Ltd. Vs. ACIT basis, he disallowed expenditure of Rs.62,56,732/- out of professional fees and Rs.1,11,47,627/- on account of interest expenses. He observed that if at any appellate stage the same is held taxable under the heading “capital gain” then disallowance under section

THA ADDL. CIT, RANGE-1,, BARODA vs. M/S. GUJARAT FLUROCHEMICALS LIMITED.,, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

income, but on protective ITA No.1379 and 1380/Ahd/2009 and 13 Others Gujarat Fluorochemicals Ltd. Vs. ACIT basis, he disallowed expenditure of Rs.62,56,732/- out of professional fees and Rs.1,11,47,627/- on account of interest expenses. He observed that if at any appellate stage the same is held taxable under the heading “capital gain” then disallowance under section

GUJARAT FLUROCHEMICALS LTD.,,BARODA vs. THE DY.CIT.,CIRCLE-1(1),, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

income, but on protective ITA No.1379 and 1380/Ahd/2009 and 13 Others Gujarat Fluorochemicals Ltd. Vs. ACIT basis, he disallowed expenditure of Rs.62,56,732/- out of professional fees and Rs.1,11,47,627/- on account of interest expenses. He observed that if at any appellate stage the same is held taxable under the heading “capital gain” then disallowance under section

SHRI SUBHASH BECHULAL SONI,AHMEDABAD vs. THE INCOME TAX OFFICER,WARD-6(4),, AHMEDABAD

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

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No. 220/Ahd/2018 िनधा"रण वष"/Asstt. Year: 2009-10 Subhash Bechulal Soni, I.T.O., B/H Shahwadi Bus Stand, Vs. Ward-6(4), Shahwadi, Ahmedabad. Narol, Ahmedabad-382405. Pan: Adzps9498J

Gain Rs.13,50,000/- 3. Addition on account of disallowance of long term capital Rs.13,50,000/- loss 4. Unexplained capital addition Rs.2,25,000/- 5. Addition on account of income