BHANUPRASAD MAGANLAL PATEL,AHMEDABAD vs. ACIT, CIRCLE-3(3), AHMEDABAD

In the result, the appeal filed by the Assessee is hereby dismissed

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

business income or income from capital gain. (It is pertinent to note that In the decision reported in G. Venkataswami

SAMIR NETWORKS LLP(PREVIOUSLY KNOWN AS SAMIR STOCKHOLDINGS PVT. LTD.),AHMEDABAD vs. THE ACIT, CIRCLE-4(1)(1), AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Smt.Annapurna Gupta & Shri T.R. Senthil Kumarassessment Year : 2016-17 Samir Networks Llp The Acit (Converted From Samir Networks Vs Circle-4(1)91) Private Limited) Ahmedabad [Previously Known As Samil Stockholdings Pvt.Ltd.] 8, Abhishree Residency-2 B/H. Kantam Party Plot, Bopal Ahmedabad – 380 058 (Gujarat) Pan: Aaccs 6455 J (Applicant) (Responent) Assessee By : Shri Dhinal Shah, Ar : Shri Sanjay Kumar, Sr.Dr Revenue By सुनवाई की तारीख/Date Of Hearing : 28/11/2024 घोषणा की तारीख /Date Of Pronouncement: 05/12/2024

business income and no expenditure was allocated to capital gains. Once the principle was accepted and consistently applied and followed

DEPUTY COMMISSIONER OF INCOME -TAX, CENTRAL CIRCLE-2(1), AHMEDABAD vs. M/S. CLARIS LIFESCIENCES LIMITED, AHMEDABAD

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकरअपीलसं./Ita No. 295/Ahd/2022 धििाधरणवरध/Asstt. Year: 2018-2019 The D.C.I.T, M/S Claris Lifesciences Limited, Central Circle-2(1), Vs. Claris Corporate Hq, Ahmedabad. Near Parimal Rly. Crossing, Ellisbridge, Ahmedabad-380006. Pan: Aaacc6366Q

Income Tax Act, 1961 (here-in-after referred to as "the Act") relevant to the Assessment Year 2018-19. A.Y. 2018-19 2 2. The solitary issue raised by the Revenue is that the learned CIT-A erred in allowing the set off of the long-term capital loss against the short-term capital gain arising from the sale

AJAY REGHUBHAI BHARWAD,VADODARA vs. THE ITO, WARD-1(2)(1), VADODARA

In the result, the appeals filed by the Assessees are dismissed

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

income-tax under the head "Capital gains" with certain conditions and exemptions. In view of the above discussion, having regard to the facts of the case, it is held that the appellant is the owner of the land which was transferred to the company. The land so transferred was a capital asset because the lands purchased were converted

SHRI PIYUSH M DOBARIYA,VADODARA vs. THE ITO, WARD-5(4), VADODARA

In the result, the appeals filed by the Assessees are dismissed

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

income-tax under the head "Capital gains" with certain conditions and exemptions. In view of the above discussion, having regard to the facts of the case, it is held that the appellant is the owner of the land which was transferred to the company. The land so transferred was a capital asset because the lands purchased were converted

SHRI AJAY REGHUBHAI BHARWAD,VADODARA vs. THE ITO, WARD-2(1), VADODARA

In the result, the appeals filed by the Assessees are dismissed

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

income-tax under the head "Capital gains" with certain conditions and exemptions. In view of the above discussion, having regard to the facts of the case, it is held that the appellant is the owner of the land which was transferred to the company. The land so transferred was a capital asset because the lands purchased were converted

RECKITT BENCKISER HEALTHCARE INDIA PVT. LTD., ( FORMERLY KNOWN AS RECKITT BENCKISER HEALTHCARE INDIA LTD.,),HARYANA vs. DCIT, CIRCLE-3(1)(2), AHMEDABAD

In the result, appeal of the Revenue is dismissed

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

capital gains and income from other source and no other income of the undertaking was offered as business income, investments

JCIT(OSD), CIR-3(1)(2), AHMEDABAD vs. RECKITT BENCKISER HEALTHCARE (INDIA) LTD, HARYANA

In the result, appeal of the Revenue is dismissed

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

capital gains and income from other source and no other income of the undertaking was offered as business income, investments

THE ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), AHMEDABAD vs. SHRI KAILASH RAMAVATAR GOENKA, AHMEDABAD

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

capital gains. The CIT(A) allowed deduction for unaccounted expenses related to these transactions for calculating taxable gains and restricted indexation benefits to the year of receipt of sale consideration. • Internal Circulation of Funds: Such transactions include Fund transfers within group entities treated as unexplained income by the AO. The CIT(A) recognised these as internal fund movements and treated

SHRI NAMAN JAYESHBHAI SHAH,AHMEDABAD vs. THE ACIT CIRCLE-1(3), AHMEDABAD

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

Bench: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinha

business income or capital gain. When the Act provides for a mechanism for disclosure of Short-Term Capital Gain, where

MADHYA GUJARAT VIJ COMPANY LIMITED,VADODARA vs. DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), VADODARA

In the result, the appeal filed by the Revenue is allowed for statistical purpose

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

gain on the sale of assets. 5.2 On the other hand, the learned DR vehemently supported the order of the authorities below. 6. As regards the interest income shown by the assessee on the loans & advances given to the employees, we note that there was identical issue before this Tribunal in the case of sister concern of the assessee namely

DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), VADODARA vs. MADHYA GUJARAT VIJ COMPANY LTD., VADODARA

In the result, the appeal filed by the Revenue is allowed for statistical purpose

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

gain on the sale of assets. 5.2 On the other hand, the learned DR vehemently supported the order of the authorities below. 6. As regards the interest income shown by the assessee on the loans & advances given to the employees, we note that there was identical issue before this Tribunal in the case of sister concern of the assessee namely

MADHYA GUJARAT VIJ COMPANY LIMITED,VADODARA vs. DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), VADODARA

In the result, the appeal filed by the Revenue is allowed for statistical purpose

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

gain on the sale of assets. 5.2 On the other hand, the learned DR vehemently supported the order of the authorities below. 6. As regards the interest income shown by the assessee on the loans & advances given to the employees, we note that there was identical issue before this Tribunal in the case of sister concern of the assessee namely

DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), VADODARA vs. MADHYA GUJARAT VIJ COMPANY LTD., VADODARA

In the result, the appeal filed by the Revenue is allowed for statistical purpose

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

gain on the sale of assets. 5.2 On the other hand, the learned DR vehemently supported the order of the authorities below. 6. As regards the interest income shown by the assessee on the loans & advances given to the employees, we note that there was identical issue before this Tribunal in the case of sister concern of the assessee namely

MADHYA GUJARAT VIJ COMPANY LIMITED,VADODARA vs. ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2), VADODARA

In the result, the appeal filed by the Revenue is allowed for statistical purpose

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

gain on the sale of assets. 5.2 On the other hand, the learned DR vehemently supported the order of the authorities below. 6. As regards the interest income shown by the assessee on the loans & advances given to the employees, we note that there was identical issue before this Tribunal in the case of sister concern of the assessee namely

DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), VADODARA vs. MADHYA GUJARAT VIJ COMPANY LTD., VADODARA

In the result, the appeal filed by the Revenue is allowed for statistical purpose

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

gain on the sale of assets. 5.2 On the other hand, the learned DR vehemently supported the order of the authorities below. 6. As regards the interest income shown by the assessee on the loans & advances given to the employees, we note that there was identical issue before this Tribunal in the case of sister concern of the assessee namely

THE ITO, WARD-1(2)(3), AHMEDABAD vs. SHRI MAHESH SOMABHAI PATEL, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

business of trading in shares claimed long term capital gains arising out of sale of shares as exemption under section 10(38). The Assessing officer denied claim and made certain additions into assessee's income

SHRI NAVINCHANDRA N. PATEL,VADODARA vs. THE ACIT, CIRCLE-1(2), VADODARA

In the result, the appeal of the assessee is allowed

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

capital gain per square feet works out to Rs. 355.17 (Rs. 4390.07 lakh / 1236019 square feet [114829 square meters]). However, the assessee has already offered Rs. 210 per square feet out of the above short term capita] gain of Rs. 355.17 square feet as his business income

YOGESH HIMATLAL THAKKER,NAVRANGPURA,AHMEDABAD vs. INCOME TAX OFFICERWARD 4(1)(1), AHMEDABAD, AMBAWADI, AHMEDABAD,

In the result, the order of the Ld

Bench: Dr. B.R.R. Kumar, Vice-Shri Siddhartha Nautiyal

capital gain in the intimation sent u/s 143(1) of the Act, but has added the difference of Rs 28,03,587/- which is the difference between long term gain as per Profit & Loss account of Rs 53,01,700 and long-term gain as per working after indexation Rs.24,98,113, as income from business