NIRMA CHEMICAL WORKS PVT.LTD.,,AHMEDABAD vs. THE ACIT.,CIRCLE-5,, AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

establishing nexus between interest bearing funds and interest free funds advanced to sister concerns. 9.6 It is well settled law that burden is on the revenue to prove that any part of borrowed funds was diverted to non business use. Reliance in this regard, is placed on the following case laws; \ i) Shhadiram & Sons v/s. DCIT

NIRMA CHEMICALS WORKS PVT.LTD.,AHMEDABAD vs. THE DY.CIT.,CIRCLE-5,, AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

establishing nexus between interest bearing funds and interest free funds advanced to sister concerns. 9.6 It is well settled law that burden is on the revenue to prove that any part of borrowed funds was diverted to non business use. Reliance in this regard, is placed on the following case laws; \ i) Shhadiram & Sons v/s. DCIT

THE ACIT, CIRCLE-5,, AHMEDABAD vs. NIRMA CHEMICALS WORKS PVT.LTD., AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

establishing nexus between interest bearing funds and interest free funds advanced to sister concerns. 9.6 It is well settled law that burden is on the revenue to prove that any part of borrowed funds was diverted to non business use. Reliance in this regard, is placed on the following case laws; \ i) Shhadiram & Sons v/s. DCIT

THE ACIT, CIRCLE-5,, AHMEDABAD vs. NIRMA CHEMICALS WORKS PVT.LTD., AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

establishing nexus between interest bearing funds and interest free funds advanced to sister concerns. 9.6 It is well settled law that burden is on the revenue to prove that any part of borrowed funds was diverted to non business use. Reliance in this regard, is placed on the following case laws; \ i) Shhadiram & Sons v/s. DCIT

THE ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1),, AHMEDABAD vs. INDO COLCHEM LTD.,, AHMEDABAD

In the result, revenue’s appeal is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

permanent establishment in India, they are liable to be taxed in India. 5.1 Yet another contention of the learned counsel for the assessee is that: (a) the assessee paid the amount by way of commission to foreign agents for the services rendered outside India; (b) the Tax Deduction at Source (TDS) is required to be made on all payments

THE ACIT, CIRCLE-2(1)(1),, AHMEDABAD vs. INDO COLCHEM PVT. LTD.,, AHMEDABAD

In the result, the appeal is dismissed

permanent establishment in India, they are liable to be taxed in India. 5.1 Yet another contention of the learned counsel for the assessee is that: (a) the assessee paid the amount by way of commission to foreign agents for the services rendered outside India; (b) the Tax Deduction at Source (TDS) is required to be made on all payments

KARNAVATI ENGINEERING LTD.,,AHMEDABAD vs. THE DEPUTY COMMISSIONER OF INCOME TAX (OSD) CIRCLE-4,, AHMEDABAD

In the result, the appeal is allowed in the terms indicated above

permanent establishment in India, they are liable to be taxed in India. 5.1 Yet another contention of the learned counsel for the assessee is that: (a) the assessee paid the amount by way of commission to foreign agents for the services rendered outside India; (b) the Tax Deduction at Source (TDS) is required to be made on all payments

THE DCIT ( INTERNATIONAL TAXATION ),, AHMEDABAD vs. BLACK PEARL SERVICES LIMITED, G.S.E.C. LTD., AHMEDABAD

Appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Shri Ms Madhumita Royआयकर अपील सं./Ita Nos. 2813-2815/Ahd/2017 "नधा"रण वष"/Asstt. Years: 2011-2012 To 2013-14 The D.C.I.T, Black Pearl Services Limited, (International Taxation), Vs. 2Nd Floor, Gujarat Chamber Of Ahmedabad Commerce Building, ‘’Sangram.’’ Ashram Road, Ahmedabad. Pan: Aaecb1176H

capitalized amounting to Rs. 2,84,41,391/- and Rs. 1,14,69,888/-respectively which is placed on page 3 of the paper book. The assessee besides the above has also filed the bank statement of the bank of Baroda UAE showing the amount of loan and the interest charged by it which is placed on pages

THE DCIT ( INTERNATIONAL TAXATION ),, AHMEDABAD vs. BLACK PEARL SERVICES LIMITED, G.S.E.C. LTD., AHMEDABAD

Appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Shri Ms Madhumita Royआयकर अपील सं./Ita Nos. 2813-2815/Ahd/2017 "नधा"रण वष"/Asstt. Years: 2011-2012 To 2013-14 The D.C.I.T, Black Pearl Services Limited, (International Taxation), Vs. 2Nd Floor, Gujarat Chamber Of Ahmedabad Commerce Building, ‘’Sangram.’’ Ashram Road, Ahmedabad. Pan: Aaecb1176H

capitalized amounting to Rs. 2,84,41,391/- and Rs. 1,14,69,888/-respectively which is placed on page 3 of the paper book. The assessee besides the above has also filed the bank statement of the bank of Baroda UAE showing the amount of loan and the interest charged by it which is placed on pages

THE DCIT ( INTERNATIONAL TAXATION ),, AHMEDABAD vs. BLACK PEARL SERVICES LIMITED, G.S.E.C. LTD., AHMEDABAD

Appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Shri Ms Madhumita Royआयकर अपील सं./Ita Nos. 2813-2815/Ahd/2017 "नधा"रण वष"/Asstt. Years: 2011-2012 To 2013-14 The D.C.I.T, Black Pearl Services Limited, (International Taxation), Vs. 2Nd Floor, Gujarat Chamber Of Ahmedabad Commerce Building, ‘’Sangram.’’ Ashram Road, Ahmedabad. Pan: Aaecb1176H

capitalized amounting to Rs. 2,84,41,391/- and Rs. 1,14,69,888/-respectively which is placed on page 3 of the paper book. The assessee besides the above has also filed the bank statement of the bank of Baroda UAE showing the amount of loan and the interest charged by it which is placed on pages

THE DCIT(INTL. TAXN),,, AHMEDABAD vs. M/S. SHANDONG TIEJUN ELECTRIC POWER ENGG. COMPANY LTD., KUTCH

In the result, all three appeals of the Revenue are dismissed

Bench: Shri Rajpal Yadav & Shri T. S. Kapoor

established that the Appellant has actually incurred the cost as estimated. f) One of the objections of the AO is that the Appellant ought to have followed another method of stage of completion of the project i.e. (c) Completion of a physical proportion of the contract work. The AO has further observed that as per Annexure 3 of the contract

THE ACIT, CIRCLE- 2(1)(1),, AHMEDABAD vs. M/S. GUJARAT AMBUJA EXPORTS LIMITED,, AHMEDABAD

Bench: Us.

capital employed in its undertaking of manufacture of liquor and, therefore, it follows that any income or profits generated by such funds employed in the undertaking of the I.T.A No. 1550/Ahd/2017 A.Y. 2014-15 Page No 6 ACIT vs. M/s. Gujarat Ambuja Exports Ltd. assessee partake the character of profits and gains derived from such undertaking. (Para

THE DCIT, CIRCLE- 2(1)(1),, AHMEDABAD vs. M/S. GUJARAT AMBUJA EXPORTS LIMITED, AHMEDABAD

In the result, appeals of the Revenue and CO of the assessee; all are dismissed

Bench: Shri Rajpal Yadav & Shri Pradipkumar Kedia

permanent establishment in India. They are not operating from India and alleged commission income received by them is not taxable in India. Thus, according to the CIT(A) on the strength of Hon’ble Supreme Court decision in the case of GE India Technology Centre P.Ltd. (supra) if the remittances do not contain element of income, then

THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1`),, AHMEDABAD vs. M/S. GUJARAT AMBUJA EXPORTS LTD.,, AHMEDABAD

In the result, appeals of the Revenue and CO of the assessee; all are dismissed

Bench: Shri Rajpal Yadav & Shri Pradipkumar Kedia

permanent establishment in India. They are not operating from India and alleged commission income received by them is not taxable in India. Thus, according to the CIT(A) on the strength of Hon’ble Supreme Court decision in the case of GE India Technology Centre P.Ltd. (supra) if the remittances do not contain element of income, then

THE DCIT, CIRCLE-4,, AHMEDABAD vs. M/S. GUJARAT AMBUJA EXPORTS LIMITED, AHMEDABAD

In the result, appeals of the Revenue and CO of the assessee; all are dismissed

Bench: Shri Rajpal Yadav & Shri Pradipkumar Kedia

permanent establishment in India. They are not operating from India and alleged commission income received by them is not taxable in India. Thus, according to the CIT(A) on the strength of Hon’ble Supreme Court decision in the case of GE India Technology Centre P.Ltd. (supra) if the remittances do not contain element of income, then

M/S. URBAN DEVELOPMENT GROUP,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-9(4),, AHMEDABAD

In the result, the appeal of the assessee is allowed on this issue

permanently closed is allowable expense. It be so held now. 6. Ld. CIT (A) erred in law and on facts in confirming action of AO reducing cost of capitalized expenditure from the cost of office while computing capital gain. Ld. CIT (A) ought to have accepted working of capital gain submitted by appellant in absence of claim of depreciation

M/S. HAATHEE VENTURES,,VADODARA vs. INCOME TAX OFFICER, WARD-3(1)(1),, VADODARA

In the result, ground number 3 of the assessee’s appeal is allowed

Bench: The Hearing Of The Appeal.”

capital gain was assessable in assessee’s hands in that year. In the case of Ashaland Corporation[1981] 7Taxman393 (Guj.), the assessee-firm was a dealer in land. On 14-11-1970, it executed an agreement to sell certain number of plots to a co-operative society who also took over their possession by paying

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, VADODARA vs. MRS. CRYOGAS EQUIPOMNET PVT. LTD.,, VADODARA

Appeals are dismissed

Bench: Shri Pramod Kumar & Ms. Madhumita Roy

permanent establishment in India and ITA Nos.1228 & 2025/Ahd/2017 The DCIT/ACIT vs. M/s. Cryogas Equipment Pvt. Ltd. Asst.Years –2012-13 & 2013-14 when the payment were made outside in India for such services then such payment to foreign parties ought not to have been considered as accrued or arisen in India by the Learned AO which is not at par with