THE ACIT, CIRCLE-3(2),, AHMEDABAD vs. VISHAL ENGINEERING & GALVANIZERS,, AHMEDABAD

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

section 48, the fair market value of the asset on the date of such transfer shall be deemed to be the full value of the consideration received or accruing as a result of the transfer." 13. According to the aforesaid provision, the profits or gains arising from transfer of capital

THE DCIT, CIRCLE-6,, AHMEDABAD vs. VISHAL ENGINEERING & GALVANIZERS,, AHMEDABAD

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

section 48, the fair market value of the asset on the date of such transfer shall be deemed to be the full value of the consideration received or accruing as a result of the transfer." 13. According to the aforesaid provision, the profits or gains arising from transfer of capital

SMT. RASHIDABEN TAHER MORAWALA,GODHRA vs. THE DCIT, INT.-TAXA., BARODA

In the result, the appeal filed by the Assessee is hereby allowed

capital gain under section 48, a reference can be made to DVO only in a situation as prescribed under section 50C, and not otherwise. [Para 13

KIFS SECURITIES PVT. LTD.,,AHMEDABAD vs. THE ACIT, CIRCLE-1(3),, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

13-08-2014in appeal No.CIT(/!)- VI/jt.CIT/R.3/214/ 2013-14, .My predecessor directed A.O to assess the gain on shares held up to 30 days as business income and to assess the balance gain as short term capital gain] long term capital gain, keeping view decision of Ahmedabad Tribunal in case of Shri Sughamhand C.Shah Vs. ACIT, Circle-3, Surat

KIFS SECURITIES LTD.,,AHMEDABAD vs. THE JT.CIT, RANGE- 3,, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

13-08-2014in appeal No.CIT(/!)- VI/jt.CIT/R.3/214/ 2013-14, .My predecessor directed A.O to assess the gain on shares held up to 30 days as business income and to assess the balance gain as short term capital gain] long term capital gain, keeping view decision of Ahmedabad Tribunal in case of Shri Sughamhand C.Shah Vs. ACIT, Circle-3, Surat

DY.COMMISSIONER OF INCOME TAX CIRCLE-1(3),, AHMEDABAD vs. KIFS PVT.LTD.,, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

13-08-2014in appeal No.CIT(/!)- VI/jt.CIT/R.3/214/ 2013-14, .My predecessor directed A.O to assess the gain on shares held up to 30 days as business income and to assess the balance gain as short term capital gain] long term capital gain, keeping view decision of Ahmedabad Tribunal in case of Shri Sughamhand C.Shah Vs. ACIT, Circle-3, Surat

THE ACIT, CIRCLE-3,, AHMEDABAD vs. KIFS SECURITIES LIMITED,, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

13-08-2014in appeal No.CIT(/!)- VI/jt.CIT/R.3/214/ 2013-14, .My predecessor directed A.O to assess the gain on shares held up to 30 days as business income and to assess the balance gain as short term capital gain] long term capital gain, keeping view decision of Ahmedabad Tribunal in case of Shri Sughamhand C.Shah Vs. ACIT, Circle-3, Surat

KIFS SECURITIES PVT. LTD.,,AHMEDABAD vs. THE ACIT, CIRCLE-1(3), AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

13-08-2014in appeal No.CIT(/!)- VI/jt.CIT/R.3/214/ 2013-14, .My predecessor directed A.O to assess the gain on shares held up to 30 days as business income and to assess the balance gain as short term capital gain] long term capital gain, keeping view decision of Ahmedabad Tribunal in case of Shri Sughamhand C.Shah Vs. ACIT, Circle-3, Surat

KIFS SECURITIES PVT. LTD.,AHMEDABAD vs. THE ACIT, CIRCLE-1(3), AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

13-08-2014in appeal No.CIT(/!)- VI/jt.CIT/R.3/214/ 2013-14, .My predecessor directed A.O to assess the gain on shares held up to 30 days as business income and to assess the balance gain as short term capital gain] long term capital gain, keeping view decision of Ahmedabad Tribunal in case of Shri Sughamhand C.Shah Vs. ACIT, Circle-3, Surat

KIFS SECURITIES LTD.,,AHMEDABAD vs. THE JT.CIT, RANGE- 3,, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

13-08-2014in appeal No.CIT(/!)- VI/jt.CIT/R.3/214/ 2013-14, .My predecessor directed A.O to assess the gain on shares held up to 30 days as business income and to assess the balance gain as short term capital gain] long term capital gain, keeping view decision of Ahmedabad Tribunal in case of Shri Sughamhand C.Shah Vs. ACIT, Circle-3, Surat

THE DY. CIT., CIRCLE-3,, AHMEDABAD vs. KHANDWALA INTEGRATED FINANCIAL SERVICES PVT. LTD, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

13-08-2014in appeal No.CIT(/!)- VI/jt.CIT/R.3/214/ 2013-14, .My predecessor directed A.O to assess the gain on shares held up to 30 days as business income and to assess the balance gain as short term capital gain] long term capital gain, keeping view decision of Ahmedabad Tribunal in case of Shri Sughamhand C.Shah Vs. ACIT, Circle-3, Surat

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

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

HARSHADKUMAR AMRUTLAL PATEL,MEHSANA vs. DCIT, MEHSANA CIRCLE, MEHSANA

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

Bench: Shri Pradip Kumar Kedia & Smt. Madhumita Royआयकर अपील सं./I.T.A. No. 361/Ahd/2019 ("नधा"रण वष" / Assessment Year : 2015-16)

capital gain as declared in the return of income be accepted and the AO's finding in this regard be reversed. 6.1 Since the AO has referred to definition as provided in section 2(13

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.

13 Others Gujarat Fluorochemicals Ltd. Vs. ACIT Section 28(i), read with section 45 of the Income-tax Act, 1961 - Business income - chargeable as (Share transactions) - Assessment year 2007-08 - Assessee declared income arising from sale of shares as short-term capital gain