DIPAL SURESHBHAI PATEL,AHMEDABAD vs. ITO, WARD-3(3)(1),, AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed& Ms. Madhumita Roy

capital gain account within the time limit prescribed under Section 139 of the Act, benefit of claim of capital gain

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

Capital gains. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 On the fact and in the circumstances of the case and in law, the CIT(A) ought to have upheld the order of the Assessing Officer to the extent mentioned above since the assessee has failed to disclose his true

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

Capital gains. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 On the fact and in the circumstances of the case and in law, the CIT(A) ought to have upheld the order of the Assessing Officer to the extent mentioned above since the assessee has failed to disclose his true

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

Capital gains. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 On the fact and in the circumstances of the case and in law, the CIT(A) ought to have upheld the order of the Assessing Officer to the extent mentioned above since the assessee has failed to disclose his true

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

Capital gains. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 On the fact and in the circumstances of the case and in law, the CIT(A) ought to have upheld the order of the Assessing Officer to the extent mentioned above since the assessee has failed to disclose his true

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

Capital gains. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 On the fact and in the circumstances of the case and in law, the CIT(A) ought to have upheld the order of the Assessing Officer to the extent mentioned above since the assessee has failed to disclose his true

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

Capital gains. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 On the fact and in the circumstances of the case and in law, the CIT(A) ought to have upheld the order of the Assessing Officer to the extent mentioned above since the assessee has failed to disclose his true

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

Capital gains. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 On the fact and in the circumstances of the case and in law, the CIT(A) ought to have upheld the order of the Assessing Officer to the extent mentioned above since the assessee has failed to disclose his true

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

Capital gains. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 On the fact and in the circumstances of the case and in law, the CIT(A) ought to have upheld the order of the Assessing Officer to the extent mentioned above since the assessee has failed to disclose his true

AARK INFOSOFT PRIVATE LIMITED,AHMEDABAD vs. THE ACIT, CIRCLE-1(1)(1), AHMEDABAD

The appeal of the assessee is allowed

Bench: Mrs. Annapurna Gupta & Ms. Suchitra R. Kambleिनधा"रण वष"/Assessment Year: 2017-18 Vs. Aark Infosoft Private Limited, The Acit, 45, Shetrunjay, 2Nd Floor, Above Circle-1(1)(1), Central Bank Of India, Bhattha Ahmedabad Cross Road, Paldi, Ahmedabad Gujarat-380007 Pan : Aahca 9986 H अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" "" यथ" "" "" यथ" यथ"/ (Respondent) यथ" Assessee By : Shri Divyang Shah, Ar Revenue By : Shri Santosh Kumar, Sr. Dr सुनवाई क" तारीख/Date Of Hearing : 08.02.2024 घोषणा क" तारीख /Date Of Pronouncement: 21.02.2024 आदेश आदेश/O R D E R आदेश आदेश Per Annapurna Gupta: Present Appeal Has Been Filed By The Assessee Against Order Of The Commissioner Of Income-Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi [Hereinafter Referred To As "Cit(A)" For Short] Dated 27.07.2023 Passed Under Section 250 Of The Income-Tax Act, 1961 [Hereinafter Referred To As "The Act" For Short], For The Assessment Year (Ay) 2017-18. 2. The Grounds Raised By The Assessee Are As Under:- “1. Whether On The Facts & Circumstances Of The Case & In Law, Ld. Cit(A) Has Erred In Issuing A Notice U/S 143(2) Of The Act? 2. Whether On The Facts & In Circumstances Of The Case & In Law, Ld. Cit(A) Has Erred In Making Disallowance Of Employees' Contribution To Pf & Esic Of Rs.5,51,657/- U/S 36(1) (Va) Of The Act?

Capital gains" and claims that the loss or any part thereof should be carried forward under sub-section (1) of Section 72, or sub-section (2) of Section 73 or sub-section (2) of section 73-A, or sub- section (1) or sub- section (3) of section 74 or sub-section (3) of section 74-A, he may furnish, within

L/H LATE SHRI ARVINDBHAI NARSINHBHAI PATEL (SHRI PARESHBHAI PATEL),VADODARA vs. THE PR. CIT-1, VADODARA

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

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

139(1) of the Act, the entire capital gain had not been utilized for purchase of new asset. That being the case, the assessee was required to deposit the unutilized capital gain in Capital Gain Account Scheme within the due date of filing of return of income under section

RAVINDRABHAI SHANKARBHAI PATEL,VADODARA vs. THE ITO, WARD-1(2)(5) NOW ITO, WARD-1(2)(2), VADODARA

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

Bench: Dr. B.R.R. Kumar, Vice-Shri Siddhartha Nautiyalthe Ito Ravindrabhai Shankarbhai Vs. Ward-1(2)(5). Patel Now Ito, Ward-1(2)(2) 86,Kanha Residency Vadodara – 390 007 Kalali Road, Kalali Ahmedabad – 390 012 [Pan : Aigpp 8415 M] (Appellant) (Respondent) .. Assessee Represented By : Ms. Urvashi Shodhan, Ar Revenue Represented By : Shri Abhijit, Sr.Dr Date Of Hearing 27/11/2025 Date Of Pronouncement 29/01/2026

capital gains and income from other sources. For Assessment Year 2015–16, the assessee filed his return of income on 18.03.2016 under section 139

SHRI JIGNESH JAYSUKHLAL GHIYA,VADODARA vs. THE DCIT CIRLCE-4(2), VADODARA

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

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

gains by purchase of new asset for which the legislature has stopped short by making reference of Section 139 of the Act, in variation to Section 139(1) of the Act referred for deposit in capital

SHRI VIKAS NARAYAN BADDI,AHMEDABAD vs. THE ACIT,CENTRAL CIRCLE-1(3),, AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Smt.Annapurna Gupta & Smt.Suchitra Kambleassessment Year :2012-13

gains" relating to long-term capital assets of the previous year in which such new asset is transferred. (4) The amount of the net consideration which is not appropriated by the assessee towards the purchase of the new asset made within one year before the date on which the transfer of the original asset took place, or which

JAYSHREEBEN JAYANTIBHAI PALSANA,LIMBADIYA, BOTAD, GUJARAT vs. ITO WARD 1(9) BHAVANAGAR, BHAVNAGAR

In the result, the appeal of the assessee is allowed

139(1) of the Act on 30.07.2024, declaring\ntotal income of Rs.4,27,635/-, comprising the following:\nShort-term capital gains u/s 111A: Rs.3,79,559/-\nLong-term capital gains u/s 112A: Rs.38,840/-\nIncome from other sources: Rs.9,236/-\n2.2 The return was subsequently revised on 31.12.2024 within the time\nallowed under section

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

MRS. SHIKHA SANJAYA SHARMA,MUMBAI vs. THE DCIT, CIRCLE-1(1)(1), AHMEDABAD

In the result, this appeal of assessee is allowed

Bench: Smt. Annapurna Gupta& Ms. Madhumita Roy

Section 70 nowhere mentions that short term capital loss and long-term capital loss cannot be set off against the exempted long-term capital gain. The appellant has relied upon the Mrs. Shikha Sanjaya Sharma vs. DCIT Asst.Year –2016-17 decision of Hon’ble Mumbai ITAT in the case of G.K. RammurthyVs. JCIT (2010) 2 ITR (T) 139

CHINMAY GAURANGBHAI SHAH,AHMEDABAD vs. ACIT (INTER.TAXA)-1, AHMEDABAD

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

139(1) of the Act and thus claim of appellant for the year under being A.Y. 2016-17 was allowed. It was further observed that financial year 2017-18, the appellant purchased two residential units by withdrawing from capital gain account and contravened the provisions of section

INCOME-TAX OFFICER, AHMEDABAD vs. JHAVERI SANDEEP BIPINCHANDRA (HUF), MUMBAI

The appeal of the Revenue is dismissed

Bench: Smt.Annapurna Gupta & Ms. Suchitra R. Kambleassessment Year : 2016-17 Jhaveri Sandeep Income Tax Officer, Vs. Bipinchandra (Huf), Ward-5(3)(1), 21, Crest Nutan Laxmi Soc., Ahmedabad 9Th Road, Jvpd Scheme, Juhu, Mumbai, Maharashtra 400049 Pan : Aachj 0855 Q अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" "" यथ" "" "" यथ" यथ"/ (Respondent) यथ" Assessee By : Shri Deepak Shah, Ar Revenue By : Shri Ashok Kumar Suthar, Sr Dr सुनवाई की तारीख/Date Of Hearing : 15.02.2024 घोषणा की तारीख /Date Of Pronouncement: 10.05.2024 आदेश/O R D E R Per Annapurna Guptapresent Appeal Has Been Filed By The Revenue Against Order Of The Commissioner Of Income-Tax (Appeals), Pune-12 [Hereinafter Referred To As "Cit(A)" For Short] Dated 24.08.2023 Passed Under Section 250(6) Of The Income-Tax Act, 1961 [Hereinafter Referred To As "The Act" For Short], For The Assessment Year (Ay) 2016-17. 2. Ground Of Appeal No.1 Raised By The Department Reads As Under:- “1. On The Facts & Circumstances Of The Case & In Law, The Ld. Cit(A) Has Erred In Treating The Income Of Rs. 54,49,539/- As Short Term Capital Gain Instead Of Business Income.” 3. The Issue Raised In The Above Ground Relates To The Short Term Capital Gain Returned By The Assessee, On The Transactions Of Dealing In Shares, As Ito Vs Jhaveri Sandeep Bipinchandra Huf Ay : 2016-17 2

Section 250(6) of the Income-tax Act, 1961 [hereinafter referred to as "the Act" for short], for the Assessment Year (AY) 2016-17. 2. Ground of appeal No.1 raised by the Department reads as under:- “1. On the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in treating the income