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

capital gain and to tax at the rate prescribed u/s. 111A of the Act. Your appellant craves liberty to add, to alter, to modify, to amend or delete any of the grounds of appeal at the time of on or before the hearing of appeal. ITA. No 2717/Ahd/2014 Assessment Year 2011-12 1.The Ld. CIT(A) has erred

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

capital gain and to tax at the rate prescribed u/s. 111A of the Act. Your appellant craves liberty to add, to alter, to modify, to amend or delete any of the grounds of appeal at the time of on or before the hearing of appeal. ITA. No 2717/Ahd/2014 Assessment Year 2011-12 1.The Ld. CIT(A) has erred

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

capital gain and to tax at the rate prescribed u/s. 111A of the Act. Your appellant craves liberty to add, to alter, to modify, to amend or delete any of the grounds of appeal at the time of on or before the hearing of appeal. ITA. No 2717/Ahd/2014 Assessment Year 2011-12 1.The Ld. CIT(A) has erred

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

capital gain and to tax at the rate prescribed u/s. 111A of the Act. Your appellant craves liberty to add, to alter, to modify, to amend or delete any of the grounds of appeal at the time of on or before the hearing of appeal. ITA. No 2717/Ahd/2014 Assessment Year 2011-12 1.The Ld. CIT(A) has erred

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

capital gain and to tax at the rate prescribed u/s. 111A of the Act. Your appellant craves liberty to add, to alter, to modify, to amend or delete any of the grounds of appeal at the time of on or before the hearing of appeal. ITA. No 2717/Ahd/2014 Assessment Year 2011-12 1.The Ld. CIT(A) has erred

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

capital gain and to tax at the rate prescribed u/s. 111A of the Act. Your appellant craves liberty to add, to alter, to modify, to amend or delete any of the grounds of appeal at the time of on or before the hearing of appeal. ITA. No 2717/Ahd/2014 Assessment Year 2011-12 1.The Ld. CIT(A) has erred

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

capital gain and to tax at the rate prescribed u/s. 111A of the Act. Your appellant craves liberty to add, to alter, to modify, to amend or delete any of the grounds of appeal at the time of on or before the hearing of appeal. ITA. No 2717/Ahd/2014 Assessment Year 2011-12 1.The Ld. CIT(A) has erred

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.

capital. Before the ld.CIT(A), the assessee brought to the notice copies of resolutions of both the companies, and therefore, the ld.CIT(A) was satisfied that it was not bogus transaction or a colourable transaction. The assessee basically has not suffered any loss, rather long term capital loss arose account of indexation of cost, as the investment was long term

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.

capital. Before the ld.CIT(A), the assessee brought to the notice copies of resolutions of both the companies, and therefore, the ld.CIT(A) was satisfied that it was not bogus transaction or a colourable transaction. The assessee basically has not suffered any loss, rather long term capital loss arose account of indexation of cost, as the investment was long term

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.

capital. Before the ld.CIT(A), the assessee brought to the notice copies of resolutions of both the companies, and therefore, the ld.CIT(A) was satisfied that it was not bogus transaction or a colourable transaction. The assessee basically has not suffered any loss, rather long term capital loss arose account of indexation of cost, as the investment was long term

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.

capital. Before the ld.CIT(A), the assessee brought to the notice copies of resolutions of both the companies, and therefore, the ld.CIT(A) was satisfied that it was not bogus transaction or a colourable transaction. The assessee basically has not suffered any loss, rather long term capital loss arose account of indexation of cost, as the investment was long term

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.

capital. Before the ld.CIT(A), the assessee brought to the notice copies of resolutions of both the companies, and therefore, the ld.CIT(A) was satisfied that it was not bogus transaction or a colourable transaction. The assessee basically has not suffered any loss, rather long term capital loss arose account of indexation of cost, as the investment was long term

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.

capital. Before the ld.CIT(A), the assessee brought to the notice copies of resolutions of both the companies, and therefore, the ld.CIT(A) was satisfied that it was not bogus transaction or a colourable transaction. The assessee basically has not suffered any loss, rather long term capital loss arose account of indexation of cost, as the investment was long term

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.

capital. Before the ld.CIT(A), the assessee brought to the notice copies of resolutions of both the companies, and therefore, the ld.CIT(A) was satisfied that it was not bogus transaction or a colourable transaction. The assessee basically has not suffered any loss, rather long term capital loss arose account of indexation of cost, as the investment was long term

M/S. VISHAL ENGINEERS & GALVANIZERS,,AHMEDABAD vs. THE DY.CIT, CIRCLE-6,, AHMEDABAD

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

depreciable assets and enhanced their value. The Assessing Officer took the view that on conversion there was extinguishment of rights of the firm over the assets transferred to the company and the firm was liable to capital gains

THE DCIT, CIRCLE-6,, AHMEDABAD vs. VISHAL ENGINEERING & GALVANIZERS,, AHMEDABAD

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

depreciable assets and enhanced their value. The Assessing Officer took the view that on conversion there was extinguishment of rights of the firm over the assets transferred to the company and the firm was liable to capital gains

THE ACIT, CIRCLE-3(2),, AHMEDABAD vs. VISHAL ENGINEERING & GALVANIZERS,, AHMEDABAD

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

depreciable assets and enhanced their value. The Assessing Officer took the view that on conversion there was extinguishment of rights of the firm over the assets transferred to the company and the firm was liable to capital gains

SCARLETT DESIGNS PVT. LTD.,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-8(1),, AHMEDABAD

In the result, the appeal of the assessee stands allowed

Bench: Shri Pramod Kumar & Ms. Madhumita Roy

Gain 15,55,609/- Less: Set-off against the brought forward Short-term capital loss for A.Y.2009-10 16,17,834/- Nil Long Term Capital Loss (-) 30,586/- ____________ Gross Total Income (-) 21,93,102/- 2. The assessee company has claimed to allow the following current/brought forward losses in the e-filed return. 1. Unabsorbed depreciation