SHRI JIGAR JASHWANTLAL SHAH,AHMEDABAD vs. THE ACIT, CIRCLE-2(1)(1),, AHMEDABAD

Appeal is dismissed

gained' "qualitatively" with substantial controlling interest of 53.22% in AY 13-14 as compared to 27.90% in immediately preceding year AY 12-13 and 'quantitatively' with Rs.4,90,00,000 to be charged as income as per section 56(2)(vii) of the Act. Accordingly a sum of Rs. 4,90,00,000/- received by way disproportionate allotment of shares

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 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 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 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

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

THE ACIT,(OSD)CIRCLE-8,, AHMEDABAD vs. TORRENT POWER LTD.,, AHMEDABAD

In the result, the appeal of the Revenue and the Cross-objection of the assessee, both are dismissed

Bench: Shri Sandeep Gosain & Shri Amarjit Singh

2 During the course of appellate proceedings, the AR of the appellant has made the written submission and it will be appropriate to reproduce below the relevant part of the submission: “In this connection the appellant relies on the following paras from Statement of facts "Computation of long term capital gains without considering Indexation of actual cost relating

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) of the Act, the issue is required to be examined with reference to this definition. As per the definition of section 2(13

THE DDIT (EXEMP.), AHMEDABAD vs. ADARSH FOUNDATION, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri O. P Meena & Ms. Madhumita Royआ.अ.सं/.I.T.A No.1858/Ahd/2013 िनधा"रणवष"/Assessment Year:2009-10 बनाम Deputy Director Of Income Tax Adarsh Foundation, Vs. (Exemption), Ahmedabad C/O Sal Hospital & Medical Institution, Opp. Doordarshan Tower, Drive- In-Road, Thaltej, Ahmedabad Pan:Aaa Ta2 111 J अपीलाथ" Appellant ""यथ"/Respondent

Gains from business and profession’ of the Income Tax Act, 1961, would be available to a charitable trust whose income is otherwise not assessable under the above head. viii) On the facts and circumstances of the case, the Ld. Commissioner of Income-Tax (Appeals) ought to have upheld the order of the Assessing Officer. ix) It is, therefore, prayed that

JCIT(OSD), CIR-3(1)(2), AHMEDABAD vs. RECKITT BENCKISER HEALTHCARE (INDIA) LTD, HARYANA

In the result, appeal of the Revenue is dismissed

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

13,19,12,485/-. Therefore, the levy of a capital gain taxes u/s.45 of the Act is hereby confirmed. Further, I also agree with the stand taken by the A.O that on sale of assets by appellant to Sterling the sale consideration of Rs. 61,91,15,966/- of the transferred assets was to be received by the appellant from

RECKITT BENCKISER HEALTHCARE INDIA PVT. LTD., ( FORMERLY KNOWN AS RECKITT BENCKISER HEALTHCARE INDIA LTD.,),HARYANA vs. DCIT, CIRCLE-3(1)(2), AHMEDABAD

In the result, appeal of the Revenue is dismissed

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

13,19,12,485/-. Therefore, the levy of a capital gain taxes u/s.45 of the Act is hereby confirmed. Further, I also agree with the stand taken by the A.O that on sale of assets by appellant to Sterling the sale consideration of Rs. 61,91,15,966/- of the transferred assets was to be received by the appellant from

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

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 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

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

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

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