DCIT, CENTRAL CIRCLE-1(2), AHMEDABAD, AAYAKAR BHAWAN, ASHRAM ROAD, AHMEDABAD vs. PARUL AROGYA SEVA MANDAL TRUST, , AHMEDABAD

Appeals are allowed

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar, Accountnat Member

capital expenditure as an application of income under section 11 of the Act. 6. The Ld.Departmental Representative (DR), on the other hand, relied on the order of the AO and stated that extrapolation is legal when there is information available to rely upon with evidence. He further stated that there are circumstances to prove that the assessee trust was involved

DCIT, CENTRAL CIRCLE1(2), AHMEDABAD, AHMEDABAD vs. PARUL AROGYA SEVA MANDAL TRUST, AHMEDABAD

Appeals are allowed

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar, Accountnat Member

capital expenditure as an application of income under section 11 of the Act. 6. The Ld.Departmental Representative (DR), on the other hand, relied on the order of the AO and stated that extrapolation is legal when there is information available to rely upon with evidence. He further stated that there are circumstances to prove that the assessee trust was involved

PARUL UNIVERSITY,VADODARA vs. THE DY.CIT,EXEMPTION CIRCLE-1, AHMEDABAD

Appeals are allowed

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar, Accountnat Member

capital expenditure as an application of income under section 11 of the Act. 6. The Ld.Departmental Representative (DR), on the other hand, relied on the order of the AO and stated that extrapolation is legal when there is information available to rely upon with evidence. He further stated that there are circumstances to prove that the assessee trust was involved

PARUL AROGYA SEVA MANDAL TRUST,AHMEDABAD vs. THE DY.CIT, CENTRAL CIRCLE-1(2), AHMEDABAD

Appeals are allowed

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar, Accountnat Member

capital expenditure as an application of income under section 11 of the Act. 6. The Ld.Departmental Representative (DR), on the other hand, relied on the order of the AO and stated that extrapolation is legal when there is information available to rely upon with evidence. He further stated that there are circumstances to prove that the assessee trust was involved

PARUL AROGYA SEVA MANDAL TRUST,AHMEDABAD vs. THE DY.CIT, CENTRAL CIRCLE-1(2), AHMEDABAD

Appeals are allowed

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar, Accountnat Member

capital expenditure as an application of income under section 11 of the Act. 6. The Ld.Departmental Representative (DR), on the other hand, relied on the order of the AO and stated that extrapolation is legal when there is information available to rely upon with evidence. He further stated that there are circumstances to prove that the assessee trust was involved

DR K R SHROFF FOUNDATION,AHMEDABAD vs. THE DY. CIT, CIRCLE-1, EXMP, AHMEDABAD

In the result, appeal of the assessee is partly allowed\n\n29

capital gains on transfer of 80,00,000\nshares of e-Infochips Limited. The Ld. CIT(A), therefore, upheld the denial\nof exemption under Section 11 & 12 of the Act by invoking the provisions\nof Section 13(1

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain in the return of income. Based on certain materials found during the course of search, the Assessing Officer concluded that the real rate of land in question was Rs. 16,000/- per sq. yard and hence the Assessing Officer held that the actual sale consideration was Rs. 8,42,36,640/- (Rs. ITA No. 210/Ahd/2020 & 08 others Shri

SHRI ROHITJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain in the return of income. Based on certain materials found during the course of search, the Assessing Officer concluded that the real rate of land in question was Rs. 16,000/- per sq. yard and hence the Assessing Officer held that the actual sale consideration was Rs. 8,42,36,640/- (Rs. ITA No. 210/Ahd/2020 & 08 others Shri

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain in the return of income. Based on certain materials found during the course of search, the Assessing Officer concluded that the real rate of land in question was Rs. 16,000/- per sq. yard and hence the Assessing Officer held that the actual sale consideration was Rs. 8,42,36,640/- (Rs. ITA No. 210/Ahd/2020 & 08 others Shri

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain in the return of income. Based on certain materials found during the course of search, the Assessing Officer concluded that the real rate of land in question was Rs. 16,000/- per sq. yard and hence the Assessing Officer held that the actual sale consideration was Rs. 8,42,36,640/- (Rs. ITA No. 210/Ahd/2020 & 08 others Shri

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain in the return of income. Based on certain materials found during the course of search, the Assessing Officer concluded that the real rate of land in question was Rs. 16,000/- per sq. yard and hence the Assessing Officer held that the actual sale consideration was Rs. 8,42,36,640/- (Rs. ITA No. 210/Ahd/2020 & 08 others Shri

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain in the return of income. Based on certain materials found during the course of search, the Assessing Officer concluded that the real rate of land in question was Rs. 16,000/- per sq. yard and hence the Assessing Officer held that the actual sale consideration was Rs. 8,42,36,640/- (Rs. ITA No. 210/Ahd/2020 & 08 others Shri

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain in the return of income. Based on certain materials found during the course of search, the Assessing Officer concluded that the real rate of land in question was Rs. 16,000/- per sq. yard and hence the Assessing Officer held that the actual sale consideration was Rs. 8,42,36,640/- (Rs. ITA No. 210/Ahd/2020 & 08 others Shri

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain in the return of income. Based on certain materials found during the course of search, the Assessing Officer concluded that the real rate of land in question was Rs. 16,000/- per sq. yard and hence the Assessing Officer held that the actual sale consideration was Rs. 8,42,36,640/- (Rs. ITA No. 210/Ahd/2020 & 08 others Shri

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain in the return of income. Based on certain materials found during the course of search, the Assessing Officer concluded that the real rate of land in question was Rs. 16,000/- per sq. yard and hence the Assessing Officer held that the actual sale consideration was Rs. 8,42,36,640/- (Rs. ITA No. 210/Ahd/2020 & 08 others Shri

SANDEEP MOHANRAJ SINGHI,AHMEDABAD vs. ACIT, CIRCLE4(2), AHMEDABAD, AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinhaassessment Year: 2018-19

capital gains on transfer of 80,00,000 shares of e-Infochips Limited. The Ld. CIT(A), therefore, upheld the denial of exemption under Section 11 & 12 of the Act by invoking the provisions of Section 13(1

ACIT (EXEMPTION) CIRCLE 1 AHMEDABAD, AHMEDABAD vs. DR K R SHROFF FOUNDATION, AHMEDABAD

In the result, appeal of the assessee is partly allowed\n\n29

capital gains on transfer of 80,00,000\nshares of e-Infochips Limited. The Ld. CIT(A), therefore, upheld the denial\nof exemption under Section 11 & 12 of the Act by invoking the provisions\nof Section 13(1

DCIT(EXEMPTION) CIRCLE-1 AHMEDABAD, AHMEDABAD vs. GUJARAT STATE BOARD OF SCHOOL TEXT BOOK, GANDHINAGAR

In the result, both the M

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Makarand V. Mahadeokar (Accountant Member)

Gains of business or profession as well as Income from other sources which together constitute "two properties" held under the trust and the total moon thereof has been arrived at in the manner as held by ITAT Mumbai in the ne Prayagdham Trust Vs. CIT(E), Mumbai in ITA No. 3348(Mum) 2016 for A. 2011 pronounced on 07.08.2017 reported

DCIT (EXMP) CIRCLE-1 AHMEDABAD, AHMEDABAD vs. GUJARAT STATE BOARD OF SCHOOL TEXT BOOK, GANDHINAGAR

In the result, both the M

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Makarand V. Mahadeokar (Accountant Member)

Gains of business or profession as well as Income from other sources which together constitute "two properties" held under the trust and the total moon thereof has been arrived at in the manner as held by ITAT Mumbai in the ne Prayagdham Trust Vs. CIT(E), Mumbai in ITA No. 3348(Mum) 2016 for A. 2011 pronounced on 07.08.2017 reported