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.

gain”, then disallowance out of professional fees deserves to be confirmed. Therefore, we have rejected the ground of appeal bearing no.2 in ITA No.1380/Ahd/2009 raised by the assessee. As far as disallowance out of interest expenditure is concerned, the ld.CIT(A) has deleted this disallowance. We find that gross investment by the assessee in the Asstt.Year

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.

gain”, then disallowance out of professional fees deserves to be confirmed. Therefore, we have rejected the ground of appeal bearing no.2 in ITA No.1380/Ahd/2009 raised by the assessee. As far as disallowance out of interest expenditure is concerned, the ld.CIT(A) has deleted this disallowance. We find that gross investment by the assessee in the Asstt.Year

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.

gain”, then disallowance out of professional fees deserves to be confirmed. Therefore, we have rejected the ground of appeal bearing no.2 in ITA No.1380/Ahd/2009 raised by the assessee. As far as disallowance out of interest expenditure is concerned, the ld.CIT(A) has deleted this disallowance. We find that gross investment by the assessee in the Asstt.Year

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.

gain”, then disallowance out of professional fees deserves to be confirmed. Therefore, we have rejected the ground of appeal bearing no.2 in ITA No.1380/Ahd/2009 raised by the assessee. As far as disallowance out of interest expenditure is concerned, the ld.CIT(A) has deleted this disallowance. We find that gross investment by the assessee in the Asstt.Year

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.

gain”, then disallowance out of professional fees deserves to be confirmed. Therefore, we have rejected the ground of appeal bearing no.2 in ITA No.1380/Ahd/2009 raised by the assessee. As far as disallowance out of interest expenditure is concerned, the ld.CIT(A) has deleted this disallowance. We find that gross investment by the assessee in the Asstt.Year

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 2 1 1, AHMEDABAD, AHMEDABAD vs. BHARAT LAKHAJI NANDWANA, AHMEDABAD

In the result, the appeal filed by the Department is allowed for statistical purposes

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

section 2(42A), which provides that the period for which the asset was held by the previous owner must be included in the period of holding of the assessee. Consequently, the Hon’ble High Court held that while computing the capital gains arising on transfer of a capital asset acquired by the assessee through gift or will, the indexed cost

AJAY REGHUBHAI BHARWAD,VADODARA vs. THE ITO, WARD-1(2)(1), VADODARA

In the result, the appeals filed by the Assessees are dismissed

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

section 45(1) of the act, any profits or gains arising from the transfer of a capital asset effected in the previous year I.T.A No. 595, 596 & 597/Ahd/2020 A.Ys. 2009-10 & 2010-11 Page No 10 Shri Piyush M. Dobariya vs. ITO & Ors. shall be chargeable to income-tax under the head "Capital gains" with certain conditions and exemptions

SHRI AJAY REGHUBHAI BHARWAD,VADODARA vs. THE ITO, WARD-2(1), VADODARA

In the result, the appeals filed by the Assessees are dismissed

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

section 45(1) of the act, any profits or gains arising from the transfer of a capital asset effected in the previous year I.T.A No. 595, 596 & 597/Ahd/2020 A.Ys. 2009-10 & 2010-11 Page No 10 Shri Piyush M. Dobariya vs. ITO & Ors. shall be chargeable to income-tax under the head "Capital gains" with certain conditions and exemptions

SHRI PIYUSH M DOBARIYA,VADODARA vs. THE ITO, WARD-5(4), VADODARA

In the result, the appeals filed by the Assessees are dismissed

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

section 45(1) of the act, any profits or gains arising from the transfer of a capital asset effected in the previous year I.T.A No. 595, 596 & 597/Ahd/2020 A.Ys. 2009-10 & 2010-11 Page No 10 Shri Piyush M. Dobariya vs. ITO & Ors. shall be chargeable to income-tax under the head "Capital gains" with certain conditions and exemptions

THE ITO, WARD-1(3)(4), AHMEDABAD vs. SHRI NILESHKUMAR DASHRATHBHAI PATEL, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

capital gains from penny stocks: If the transaction is supported by documents like contract notes, demat statements etc and is routed through the stock exchange and if the payments are by account payee cheques and there is no evidence that the cash has gone back to the assessee's account, it has to be treated as a genuine transaction

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

Capital expenditures are often employed to improve operational efficiency, increase revenue in the long term, or make improvements to the existing assets of a company. Capital spending is different from other types of spending that focus on short-term operating expenses, such as overhead expenses or payments to suppliers and creditors. 115.2 Depreciation is used to expense the fixed asset

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

Capital expenditures are often employed to improve operational efficiency, increase revenue in the long term, or make improvements to the existing assets of a company. Capital spending is different from other types of spending that focus on short-term operating expenses, such as overhead expenses or payments to suppliers and creditors. 115.2 Depreciation is used to expense the fixed asset

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

Capital expenditures are often employed to improve operational efficiency, increase revenue in the long term, or make improvements to the existing assets of a company. Capital spending is different from other types of spending that focus on short-term operating expenses, such as overhead expenses or payments to suppliers and creditors. 115.2 Depreciation is used to expense the fixed asset

CHUDABHAI LAXMNABHAI DESAI,,MEHSANA vs. THE ITO, WARD -6(2),, AHMEDABAD

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

gain in assessment order has been done as per provisions of the Act as the land parcel situated at Village Chandlodia-Tal. Ahmedabad is a capital asset as per the definition of section 2(14)(iii) of the Act and hence, the chargeability u/s. 45 would succeed. It is clear that the sales consideration received on sale of I.T.A

KUM. NALINI SURRENDRABHAI PATEL,,BARODA vs. THE INCOME TAX OFFICER, WARD-2(1),, BARODA

In the result, the appeal of the assessee is allowed

capital gain in Flat No.304, Suramiya Apartments, Vadodara. The above return was transferred to ITO(International Taxation), Baroda. After issuance of notice under section 142(1) calling for various details, the returned income was accepted and claim of deduction under section 54 and 54F has been accepted in the case of the assessee’s brother, who was owning 50% share

GAJIBEN MAHOTJI THAKOR,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-3(3)(8), AHMEDABAD

In the result, appeal filed by the assessee is dismissed

Bench: SMT. ANNAPURNA GUPTA (Accountant Member), SHRI SIDDHARTHA NAUTIYAL (Judicial Member)

Section 127 of the Act as noted above clearly states that succeeding AO is not required to re-issue any notice to the assessee. The argument of the Ld. Counsel for the assessee therefore that succeeding AO in the present case i.e. ITO, Ward-3(3)(8) could have validly assumed jurisdiction to assess the case of the assessee only

SMT. MINAL NAYAN SHAH,AHMEDABAD vs. THE PR, CIT-3, AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad

127 (Madras) for construction of the expression ‘a residential house’ ITA No.643/Ahd/19 [Smt. Minal Nayan Shah vs. Pr.C IT] A.Y. 2014-15 - 8 - in the context of Section 54 and Section 54F of the Act. It was pointed out that in the light of all the judicial precedents cited, the residential units forming part of the block acquired

SHRI ASHOKBHAI KANUBHAI PATEL,AHMEDABAD vs. THE ACIT (INT.TAXA.)-1, AHMEDABAD

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

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No. 405/Ahd/2020 िनधा"रण वष"/Asstt. Year: 2016-2017 Shri Ashokbhai Kanubhai Patel, A.C.I.T., 8, Parul Society, Vs. (Int. Taxation)-1, Opp. Memnagar Fire Station, Ahmedabad. Navrangpura, Ahmedabad-380009. Pan: Arrpp4895J

capital gains has been claimed correctly. In view of the above, I would like to give you an opportunity to produce any evidence/information which you feel is necessary in support of the said retutn of income on or before 17/07/2017 at 12.12 PM 10.3 Accordingly notice under section 142(1) of the Act was issued dated 03-08- 2018 requiring