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.

section 80 of the Companies Act, 1956 and observed that first proviso to this section provided that “no such shares shall be redeemed except out of profits of the company which would otherwise be available for dividend or out of the proceeds of a fresh issue of shares made for the purposes of the redemption”. Thus, according to the ld.CIT

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.

section 80 of the Companies Act, 1956 and observed that first proviso to this section provided that “no such shares shall be redeemed except out of profits of the company which would otherwise be available for dividend or out of the proceeds of a fresh issue of shares made for the purposes of the redemption”. Thus, according to the ld.CIT

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.

section 80 of the Companies Act, 1956 and observed that first proviso to this section provided that “no such shares shall be redeemed except out of profits of the company which would otherwise be available for dividend or out of the proceeds of a fresh issue of shares made for the purposes of the redemption”. Thus, according to the ld.CIT

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.

section 80 of the Companies Act, 1956 and observed that first proviso to this section provided that “no such shares shall be redeemed except out of profits of the company which would otherwise be available for dividend or out of the proceeds of a fresh issue of shares made for the purposes of the redemption”. Thus, according to the ld.CIT

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.

section 80 of the Companies Act, 1956 and observed that first proviso to this section provided that “no such shares shall be redeemed except out of profits of the company which would otherwise be available for dividend or out of the proceeds of a fresh issue of shares made for the purposes of the redemption”. Thus, according to the ld.CIT

GUJARAT FLUROCHEMICALS LIMITED.,,VADODARA vs. THE ACIT, CIRCLE-1(1)(1),, VADODARA

In the result, both appeals of the assessee are partly allowed

Bench: Shri Rajpal Yadav & Shri Amarjit Singhआयकर अपील सं./ Ita No.805/Ahd/2017 "नधा"रण वष"/Asstt. Year: 2012-2013 & Asst.Year : 2013-2014

111 4,43,12,76,500 income [(A x B)/ C] 35,92,97,95,00 ITA No.805 and 2744/Ahd/2017 0 0.50 X (iii) Expenses being 0.5% of 2,21,56,383 average investments. [0.5% of B] 4,43,12,76,500 100 Total Disallowance u/s 14A r.w. 9,39,64,491 Rule 8D of the Act The amount

GUJARAT FLUOROCHEMICALS LIMITED,,VADODARA vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, VADODARA

In the result, both appeals of the assessee are partly allowed

Bench: Shri Rajpal Yadav & Shri Amarjit Singhआयकर अपील सं./ Ita No.805/Ahd/2017 "नधा"रण वष"/Asstt. Year: 2012-2013 & Asst.Year : 2013-2014

111 4,43,12,76,500 income [(A x B)/ C] 35,92,97,95,00 ITA No.805 and 2744/Ahd/2017 0 0.50 X (iii) Expenses being 0.5% of 2,21,56,383 average investments. [0.5% of B] 4,43,12,76,500 100 Total Disallowance u/s 14A r.w. 9,39,64,491 Rule 8D of the Act The amount

DIPAL SURESHBHAI PATEL,AHMEDABAD vs. ITO, WARD-3(3)(1),, AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed& Ms. Madhumita Roy

capital gain from being charged to income-tax on the sale of property used for residence up to 30-3-1998, inasmuch as the return of income-tax for the assessment year 1997-98 could be furnished before the expiry of one year from the end; of the relevant assessment year or before the completion of %e assessment whichever

SIRHIND STEELS LTD.,,AHMEDABAD vs. THE PR.CIT-4, AHMEDABAD

In the result the appeal filed by the assessee is allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No. 713/Ahd/2019 "नधा"रण वष"/Asstt. Year: 2014-2015 Sirhind Steel Ltd., P.C.I.T-4, 7Th Floor, Shalin Building, Vs. Ambawadi, Nr. Nehru Bridge Corner, Ahmedabad. Ashram Road, Ahmedabad.

111 taxmann.com 516, where it was held as under: In the instant case, it is demonstrated on behalf of the assessee that necessary inquiries were made towards computation of long term capital gain and claim of deduction under section

VINODCHANDRA T PARIKH,AHMEDABAD vs. ITO, WARD-2(1)(2),, AHMEDABAD

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

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No. 457/Ahd/2018 िनधा"रण वष"/Asstt. Year: 2013-2014 Vinodchandra T. Parikh, I.T.O, 31, Shail, Vs. Ward-2(1)(2), Opp. Madhusudan House, Ahmedabad. Navrangpura, Ahmedabad.

111 and contended that the assessee has complied the provisions of section 54 of the Act substantially. Therefore, the assessee cannot be denied the benefit of the provisions of section 54 of the Act merely on the reasoning that there was the delay in completing the construction of the house. 11. The learned DR before us vehemently supported the stand

M/S. EDELWEISS BROKING LTD. ( AMALGAMATING COMPANY EDELWEISS FINANCIAL ADVISORS LTD.),AHMEDABAD vs. THE JT. CIT, RANGE-3,, AHMEDABAD

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

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

gain with respect to shares acquired by the assessee upon the conversion of both membership cards of the BSE. In this regard we note that the assessee itself has agreed before the ld. CIT-A for allowing the benefit of indexation from the AY 2006-07 and accordingly, the ld. CIT-A decided the issue after considering the plea

THE DCIT, CIRCLE-1(3), AHMEDABAD vs. EDELWEISS FINANCIAL ADVISORS LTD., ( FORMERLY KNOWN ANAGRAM STOCK BROKING LTD.,), AHMEDABAD

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

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

gain with respect to shares acquired by the assessee upon the conversion of both membership cards of the BSE. In this regard we note that the assessee itself has agreed before the ld. CIT-A for allowing the benefit of indexation from the AY 2006-07 and accordingly, the ld. CIT-A decided the issue after considering the plea

THE DCIT, CIRCLE-1(3), AHMEDABAD vs. EDELWEISS BROKING LTD., AHMEDABAD

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

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

gain with respect to shares acquired by the assessee upon the conversion of both membership cards of the BSE. In this regard we note that the assessee itself has agreed before the ld. CIT-A for allowing the benefit of indexation from the AY 2006-07 and accordingly, the ld. CIT-A decided the issue after considering the plea

SHRI NATWARBHAI J. PATEL,VADODARA vs. THE INCOME TAX OFFICER, WARD-1(2)(4), VADODARA

In the result, both the appeals are partly allowed for statistical purposes in the terms indicated above

capital gains. Casus omissus, which broadly refers to the principle that a matter which has not been provided in the statue but should have been there, cannot be supplied by us, as, to do so will be clearly beyond the call and scope of our duty which is only to interpret the law is it exists. Hon'ble Supreme Court

THE ITO, WARD-1(2)(5), VADODARA vs. SHRI VINODBHAI J. PATEL, VADODARA

In the result, both the appeals are partly allowed for statistical purposes in the terms indicated above

capital gains. Casus omissus, which broadly refers to the principle that a matter which has not been provided in the statue but should have been there, cannot be supplied by us, as, to do so will be clearly beyond the call and scope of our duty which is only to interpret the law is it exists. Hon'ble Supreme Court

SHRI VINODBHAI J. PATEL,VADODARA vs. THE INCOME TAX OFFICER, WARD-1(2)(5), VADODARA

In the result, both the appeals are partly allowed for statistical purposes in the terms indicated above

capital gains. Casus omissus, which broadly refers to the principle that a matter which has not been provided in the statue but should have been there, cannot be supplied by us, as, to do so will be clearly beyond the call and scope of our duty which is only to interpret the law is it exists. Hon'ble Supreme Court

THE ITO, WARD-1(2)(4), BARODA vs. SHRI NATWARBHAI J. PATEL, VADODARA

In the result, both the appeals are partly allowed for statistical purposes in the terms indicated above

capital gains. Casus omissus, which broadly refers to the principle that a matter which has not been provided in the statue but should have been there, cannot be supplied by us, as, to do so will be clearly beyond the call and scope of our duty which is only to interpret the law is it exists. Hon'ble Supreme Court

THE ITO, WARD-2(2)(5),, AHMEDABAD vs. SMT. SEJAL D. SHAH,, AHMEDABAD

capital gains addition of Rs.36,06,950/- after invoking Section 50C, in proceedings u/s.143(3) of the Income Tax Act, 1961; in short “the Act”. Heard both the parties reiterating their respective stands. Case file perused. ITA No. 3400/Ahd/14 [ITO vs. Smt. Sejal D Shah] A.Y. 2010-11 2. We notice at the outset that the CIT(A)’s findings