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

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

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.

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

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

SHRI ASHISH TANDON, ,VADODARA vs. THE ACIT, CIRCLE-1(1)(2),, VADODARA

In the result, the appeal is dismissed

gain as discussed above. 5.8. But, a perusal of the Asset Purchase Agreement clearly shows that the dominant intention of the purchaser for making payment to the appellant was to prevent him from engaging in any business which could have competed with the business purchased by M/s. Trend Micro from the sellers. Under such circumstances, the decision in the case

SHRI KETAN RAMNIKLAL MEHTA,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-7(2),, AHMEDABAD

In the result, the appeal of the assessee is treated as partly allowed for statistical purposes

Bench: Shri P.M. Jagtap, Vice- & Shri T.R. Senthil Kumarassessment Years : 2010-11 Shri Ketan Ramniklal Mehta, Income-Tax Officer, 10, Nishant Bungalows, Part-1, Vs Ward 7(2), Nr. Shyamal Char Rasta, Satellite Ahmedabad Road, Ahmedabad – 380015 Pan : Aevpm 2649 Q अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri D.K. Parikh, Ar Revenue By : Shri V.K. Singh, Sr Dr सुनवाई क" तार"ख/Date Of Hearing : 02/03/2022 घोषणा क" तार"ख /Date Of Pronouncement: 25/03/2022 आदेश/O R D E R Per P.M. Jagtap, Vice-:

section 10(35), 10(38) of the Act. The A.O. in the impugned order at para 4 accepted that share trading and derivative trading activities for which se para: accounts are maintained. The appellant on the basis of total turnover such separate accounts audited. The A.O. at para 5 of impugned order admitted that tax audit report as required

M/S. ATUL LIMITED,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, AHMEDABAD

The appeal of the assessee is allowed in above terms

gain and such a situation was governed by a specific provision of the Act u/s 112(2) of the I.T. Act. Provision of section 112(2) of the Act states as under: "where the gross total income of an assessee includes any income arising from the transfer of long term capital

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

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

SHREE VAIDEHI IMPEX PVT. LTD.,AHMEDABAD vs. THE DY.CIT, CIRCLE-4(1)(1), AHMEDABAD

Accordingly, the appeal filed by the assessee is dismissed

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gains, including the concessional rate of tax under section 112 of the Act and indexation, should be allowed. The assessee

ERIS LIFESCIENCES LIMITED,AHMEDABAD vs. NFAC, DELHI (PRESENT JURISDICTION- THE DY. CIT, CIRCLE-2(1)(1)), AHMEDABAD

In the result, for assessment year 2022-23, the appeal of the Department is partly allowed for statistical purposes

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

capital gains under sections 45, 48 and 112 continue to apply unless expressly overridden. The Hon’ble High Court further

ERIS LIFESCIENCES LIMITED,AHMEDABAD vs. NFAC, DELHI (PRESENT JURISDICTION - THE DY. CIT, CIRCLE-2(1)(1)), AHMEDABAD

In the result, for assessment year 2022-23, the appeal of the Department is partly allowed for statistical purposes

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

capital gains under sections 45, 48 and 112 continue to apply unless expressly overridden. The Hon’ble High Court further

DCIT CIRCLE-2(1)(1), AHMEDABAD, VEJALPUR vs. ERIS LIFESCIENCES LIMITED SHIVARTH AMBIT, BODAKDEV AHMEDABAD

In the result, for assessment year 2022-23, the appeal of the Department is partly allowed for statistical purposes

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

capital gains under sections 45, 48 and 112 continue to apply unless expressly overridden. The Hon’ble High Court further

DCIE CIRCLE-2(1)(1), AHEMDABAD, VEJALPUR vs. ERIS LIFESCIENCES LIMITED SHIVARTH AMBIT, BODAKDEV AHMEDABAD

In the result, for assessment year 2022-23, the appeal of the Department is partly allowed for statistical purposes

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

capital gains under sections 45, 48 and 112 continue to apply unless expressly overridden. The Hon’ble High Court further

DCIT, CIRCLE-2(1)(1) AHMEDABAD, AHMEDABAD vs. ERIS LIFESCIENCE LIMITED SHIVARTH AMBIT, AHMEDABAD

In the result, for assessment year 2022-23, the appeal of the Department is partly allowed for statistical purposes

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

capital gains under sections 45, 48 and 112 continue to apply unless expressly overridden. The Hon’ble High Court further

ERIS LIFESCIENCES LIMITED,AHMEDABAD vs. NFAC, DEHI (PRESENT JURISDICTION- THE DY.CIT, CIRCLE-2(1)(1)), AHMEDABAD

In the result, for assessment year 2022-23, the appeal of the Department is partly allowed for statistical purposes

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

capital gains under sections 45, 48 and 112 continue to apply unless expressly overridden. The Hon’ble High Court further