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

SABBIRALI ALIMIYA SAIYED,VADODARA vs. THE ITO, WARD-3(1)(1),, VADODARA

In the result, the appeal of the assessee is allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No. 904/Ahd/2018 िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष"/Asstt. Year: 2014-15 वष"

131 dated 10th February 2015 in connection with the survey proceedings under section 133A of the Act wherein it was accepted that the company namely M/s AGIL was used in penny stock transactions to provide bogus long-term capital gain

DCIT CIRCLE-3(3), AHMEDABAD vs. SHRI ALPESHKUMAR C.PATEL, AHMEDABAD

In the result, the appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed & Shri T.R. Senthil Kumarआयकर अपील सं./Ita No. 1908/Ahd/2018 िनधा"रण वष"/Asstt. Year: 2011-2012 Alpeshkumar C. Patel, A.C.I.T., 503, Milestone Building, Vs. Circle-3(3), Drive In Road, Ahmedabad. Thaltej, Ahmedabad-380052. Pan: Aeapp9489G

capital account. The liability is still standing in the books of account. The Hon'ble Gujarat high court in the case of commissioner of income tax Vs. Chetan Chemicals (P) Ltd. (2004) 267 ITR 770 while dealing with both section i.e. 41(1) of the IT. Act held that, "Before section 41(1) can be invoked, it is necessary that

SHRI ROHITJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

section 131 of the post-search inquiry. On the other hand, the ld.CIT-DR also relied upon the assessment order, and submitted that evidence during the course of search duly seized exhibiting the earning of short term capital gain

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

section 131 of the post-search inquiry. On the other hand, the ld.CIT-DR also relied upon the assessment order, and submitted that evidence during the course of search duly seized exhibiting the earning of short term capital gain

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

section 131 of the post-search inquiry. On the other hand, the ld.CIT-DR also relied upon the assessment order, and submitted that evidence during the course of search duly seized exhibiting the earning of short term capital gain

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

section 131 of the post-search inquiry. On the other hand, the ld.CIT-DR also relied upon the assessment order, and submitted that evidence during the course of search duly seized exhibiting the earning of short term capital gain

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

section 131 of the post-search inquiry. On the other hand, the ld.CIT-DR also relied upon the assessment order, and submitted that evidence during the course of search duly seized exhibiting the earning of short term capital gain

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

section 131 of the post-search inquiry. On the other hand, the ld.CIT-DR also relied upon the assessment order, and submitted that evidence during the course of search duly seized exhibiting the earning of short term capital gain

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

section 131 of the post-search inquiry. On the other hand, the ld.CIT-DR also relied upon the assessment order, and submitted that evidence during the course of search duly seized exhibiting the earning of short term capital gain

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

section 131 of the post-search inquiry. On the other hand, the ld.CIT-DR also relied upon the assessment order, and submitted that evidence during the course of search duly seized exhibiting the earning of short term capital gain

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

section 131 of the post-search inquiry. On the other hand, the ld.CIT-DR also relied upon the assessment order, and submitted that evidence during the course of search duly seized exhibiting the earning of short term capital gain

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

section, the original cost should be takes as the cost of acquisition while determining the income under the head capital gain. Now coming to the 2nd question arising for our consideration, what 95. should be the period of holding for computing the capital gain with respect to shares acquired by the assessee upon the conversion of both membership cards

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

section, the original cost should be takes as the cost of acquisition while determining the income under the head capital gain. Now coming to the 2nd question arising for our consideration, what 95. should be the period of holding for computing the capital gain with respect to shares acquired by the assessee upon the conversion of both membership cards

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

section, the original cost should be takes as the cost of acquisition while determining the income under the head capital gain. Now coming to the 2nd question arising for our consideration, what 95. should be the period of holding for computing the capital gain with respect to shares acquired by the assessee upon the conversion of both membership cards

SHRI DINESH CHHAGANLAL THAKKAR,AHMEDABAD vs. THE PR. CIT-1 , AHMEDABAD

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

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No. 51/Ahd/2020 िनधा"रण वष"/Asstt. Year: 2015-2016

capital gains shown in the return (Penny stock tab in ITS)’. 10.4 In addition to the above, there was also summon issued by the Director of Income Tax dated 13 August 2015 before selecting the case under scrutiny under the provisions of section 131

ALPA UDAYKUMAR SHAH,,BHAVNAGAR vs. ITO, WARD-1(2),, BHAVNAGAR

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed, Accountant Memebr & Shri Siddhartha Nautiyal, Judicial Memebr

section 131(1) of the Act stated that she is not knowing the fundamentals of the company M/s Comfort Fincap Ltd and their director despite the fact that she has purchased shares in private placement. Therefore, the AO show caused the assessee proposing to treat the impugned long term capital gain

THAKORBHAI MAGANBHAI PATEL,VADODARA vs. THE ITO, WARD- 3(1)(1), VADODARA

131 of the Act\nadmitting receipt of cash on sale of land, the Assessing Officer reopened the\nassessment by issuing notice under section 148 dated 27.03.2015 after\nobtaining approval from the competent authority. During reassessment\nproceedings, the Assessing Officer issued several notices under section\n142(1) of the Act calling for details regarding the nature of land, distance\nfrom municipal