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 by the assessee on the land transactions comprised at block no.77 and 76. 19. We have duly considered rival submissions

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 by the assessee on the land transactions comprised at block no.77 and 76. 19. We have duly considered rival submissions

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 by the assessee on the land transactions comprised at block no.77 and 76. 19. We have duly considered rival submissions

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 by the assessee on the land transactions comprised at block no.77 and 76. 19. We have duly considered rival submissions

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 by the assessee on the land transactions comprised at block no.77 and 76. 19. We have duly considered rival submissions

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 by the assessee on the land transactions comprised at block no.77 and 76. 19. We have duly considered rival submissions

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 by the assessee on the land transactions comprised at block no.77 and 76. 19. We have duly considered rival submissions

SHAILESH S. JHAVERI,AHMEDABAD vs. THE DY.CIT, CENT. CIRCLE-1(1), AHMEDABAD

In the result, the appeal of the assessee is dismissed for both the year under consideration

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

Section 132(4A) are applicable in case of Shri Shirish Shah and not the appellant and since the said burden has not been discharged by Shri Shirish Shah, the disallowance of loss requires to be cancelled/deleted. In view of the above, the impugned addition of Rs. 1,52,20,891/- being loss incurred in trading of shares of Chandni Textile

SHAILESH SUBODHCHANDRA JHAVERI,AHMEDABAD vs. THE DY.CIT, CENTRAL CIRCLE-1(1), AHMEDABAD

In the result, the appeal of the assessee is dismissed for both the year under consideration

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

Section 132(4A) are applicable in case of Shri Shirish Shah and not the appellant and since the said burden has not been discharged by Shri Shirish Shah, the disallowance of loss requires to be cancelled/deleted. In view of the above, the impugned addition of Rs. 1,52,20,891/- being loss incurred in trading of shares of Chandni Textile

SHAILESH SUBODHCHANDRA JHAVERI,AHMEDABAD vs. THE DY.CIT, CENTRAL CIRCLE-1(1), AHMEDABAD

In the result, the appeal of the assessee is dismissed for both the year under consideration

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

Section 132(4A) are applicable in case of Shri Shirish Shah and not the appellant and since the said burden has not been discharged by Shri Shirish Shah, the disallowance of loss requires to be cancelled/deleted. In view of the above, the impugned addition of Rs. 1,52,20,891/- being loss incurred in trading of shares of Chandni Textile

ERIS LIFESCIENCES LIMITED,AHMEDABAD vs. NFAC, DELHI (PRESENT JURISDICTION - THE DY. CIT, CIRCLE-2(1)(1)), AHMEDABAD

In the result, for assessment year 2022-23, the appeal of the Department is partly allowed for statistical purposes

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

capital gains have been credited to the profit and loss account prepared in accordance with the Companies Act. Once such gains form part of net profit, the computation of their quantum must necessarily follow the computation mechanism contained in section 48, which statutorily mandates indexation. Denial of indexation would artificially inflate book profit and result in MAT being levied

ERIS LIFESCIENCES LIMITED,AHMEDABAD vs. NFAC, DELHI (PRESENT JURISDICTION- THE DY. CIT, CIRCLE-2(1)(1)), AHMEDABAD

In the result, for assessment year 2022-23, the appeal of the Department is partly allowed for statistical purposes

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

capital gains have been credited to the profit and loss account prepared in accordance with the Companies Act. Once such gains form part of net profit, the computation of their quantum must necessarily follow the computation mechanism contained in section 48, which statutorily mandates indexation. Denial of indexation would artificially inflate book profit and result in MAT being levied

ERIS LIFESCIENCES LIMITED,AHMEDABAD vs. NFAC, DEHI (PRESENT JURISDICTION- THE DY.CIT, CIRCLE-2(1)(1)), AHMEDABAD

In the result, for assessment year 2022-23, the appeal of the Department is partly allowed for statistical purposes

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

capital gains have been credited to the profit and loss account prepared in accordance with the Companies Act. Once such gains form part of net profit, the computation of their quantum must necessarily follow the computation mechanism contained in section 48, which statutorily mandates indexation. Denial of indexation would artificially inflate book profit and result in MAT being levied

DCIE CIRCLE-2(1)(1), AHEMDABAD, VEJALPUR vs. ERIS LIFESCIENCES LIMITED SHIVARTH AMBIT, BODAKDEV AHMEDABAD

In the result, for assessment year 2022-23, the appeal of the Department is partly allowed for statistical purposes

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

capital gains have been credited to the profit and loss account prepared in accordance with the Companies Act. Once such gains form part of net profit, the computation of their quantum must necessarily follow the computation mechanism contained in section 48, which statutorily mandates indexation. Denial of indexation would artificially inflate book profit and result in MAT being levied

DCIT, CIRCLE-2(1)(1) AHMEDABAD, AHMEDABAD vs. ERIS LIFESCIENCE LIMITED SHIVARTH AMBIT, AHMEDABAD

In the result, for assessment year 2022-23, the appeal of the Department is partly allowed for statistical purposes

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

capital gains have been credited to the profit and loss account prepared in accordance with the Companies Act. Once such gains form part of net profit, the computation of their quantum must necessarily follow the computation mechanism contained in section 48, which statutorily mandates indexation. Denial of indexation would artificially inflate book profit and result in MAT being levied

DCIT CIRCLE-2(1)(1), AHMEDABAD, VEJALPUR vs. ERIS LIFESCIENCES LIMITED SHIVARTH AMBIT, BODAKDEV AHMEDABAD

In the result, for assessment year 2022-23, the appeal of the Department is partly allowed for statistical purposes

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

capital gains have been credited to the profit and loss account prepared in accordance with the Companies Act. Once such gains form part of net profit, the computation of their quantum must necessarily follow the computation mechanism contained in section 48, which statutorily mandates indexation. Denial of indexation would artificially inflate book profit and result in MAT being levied

DCIT CIRCLE-2(1)(1), AHMEDABAD, AHMEDABAD vs. ERIS LIFESCIENCES LIMITED SHIVARTH AMBIT , BODAKDEV AHMEDABAD

Appeal are dismissed

capital gains have been credited to\nthe profit and loss account prepared in accordance with the Companies Act.\nOnce such gains form part of net profit, the computation of their quantum\nmust necessarily follow the computation mechanism contained in section 48,\nwhich statutorily mandates indexation. Denial of indexation would artificially\ninflate book profit and result in MAT being levied

ERIS LIFESCIENCES LIMITED,AHMEDABAD vs. NFAC, DEHI (PRESENT JURISDICTION- THE DY. CIT, CIRCLE-2(1)(1), AHMEDABAD

Appeal are dismissed

capital gains have been credited to\nthe profit and loss account prepared in accordance with the Companies Act.\nOnce such gains form part of net profit, the computation of their quantum\nmust necessarily follow the computation mechanism contained in section 48,\nwhich statutorily mandates indexation. Denial of indexation would artificially\ninflate book profit and result in MAT being levied