THA ADDL. CIT, RANGE-1,, BARODA vs. M/S. GUJARAT FLUROCHEMICALS LIMITED.,, 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.

151. ITA No.1379 and 1380/Ahd/2009 and 13 Others Gujarat Fluorochemicals Ltd. Vs. ACIT 17. With the assistance of the ld.representatives, we have gone through the record. The issue whether gain from sale of shares/mutual funds is to be assessed as business income or short term capital gain/long term capital gain, is a highly debatable issue. It always puzzled the adjudicator

THE ADDL.CIT, RANGE-1, BARODA vs. GUJARAT FLUOROCHEMEICALS LTD, 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.

151. ITA No.1379 and 1380/Ahd/2009 and 13 Others Gujarat Fluorochemicals Ltd. Vs. ACIT 17. With the assistance of the ld.representatives, we have gone through the record. The issue whether gain from sale of shares/mutual funds is to be assessed as business income or short term capital gain/long term capital gain, is a highly debatable issue. It always puzzled the adjudicator

GUJARAT FLUROCHEMICALS LTD.,,BARODA vs. THE DY.CIT.,CIRCLE-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.

151. ITA No.1379 and 1380/Ahd/2009 and 13 Others Gujarat Fluorochemicals Ltd. Vs. ACIT 17. With the assistance of the ld.representatives, we have gone through the record. The issue whether gain from sale of shares/mutual funds is to be assessed as business income or short term capital gain/long term capital gain, is a highly debatable issue. It always puzzled the adjudicator

THE DCIT, CIRCLE-1(1),, BARODA vs. GUJARAT FLUROCHEMICALS LTD.,, 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.

151. ITA No.1379 and 1380/Ahd/2009 and 13 Others Gujarat Fluorochemicals Ltd. Vs. ACIT 17. With the assistance of the ld.representatives, we have gone through the record. The issue whether gain from sale of shares/mutual funds is to be assessed as business income or short term capital gain/long term capital gain, is a highly debatable issue. It always puzzled the adjudicator

GUJARAT FLUROCHEMICALS LIMITED,,BARODA vs. THE ADDL. CIT, RANGE-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.

151. ITA No.1379 and 1380/Ahd/2009 and 13 Others Gujarat Fluorochemicals Ltd. Vs. ACIT 17. With the assistance of the ld.representatives, we have gone through the record. The issue whether gain from sale of shares/mutual funds is to be assessed as business income or short term capital gain/long term capital gain, is a highly debatable issue. It always puzzled the adjudicator

THE DCIT, CIRCLE-1(2),, BARODA vs. M/S. PRATHAM INVESTMENTS,, BARODA

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad, Judicial Memebr आयकर अपील सं./I.T.A. Nos. 742/Ahd/2015, 3078 & 3077/Ahd/2016 With Cross Objection No. 76/Ahd/2015 & 9/Ahd/2017 & I.T.A. No. 3087/Ahd/2016 (In I.T.A. Nos. 742/Ahd/2015, 3078 & 3077/Ahd/2016) & ("नधा"रण वष" / Assessment Years : 2010-11, 2012-13 & 2013-14)

section the profits or gains arising from the transfer by way of conversion by the owner of a capital asset into or its treatment by him as stock-in- trade of a business carried on by him, shall be chargeable to tax as the income from the previous year in which such stock-in-rade is sold or otherwise transferred

M/S. PRATHAM DEVELOPERS,,VADODARA vs. THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2),, BARODA

In the result, Ground No.4 of the assessee’s appeal is allowed in part

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad, Judicial Memebr आयकर अपील सं./I.T.A. Nos. 742/Ahd/2015, 3078 & 3077/Ahd/2016 With Cross Objection No. 76/Ahd/2015 & 9/Ahd/2017 & I.T.A. No. 3087/Ahd/2016 (In I.T.A. Nos. 742/Ahd/2015, 3078 & 3077/Ahd/2016) & ("नधा"रण वष" / Assessment Years : 2010-11, 2012-13 & 2013-14)

section the profits or gains arising from the transfer by way of conversion by the owner of a capital asset into or its treatment by him as stock-in- trade of a business carried on by him, shall be chargeable to tax as the income from the previous year in which such stock-in-rade is sold or otherwise transferred

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

Capital expenditures are often employed to improve operational efficiency, increase revenue in the long term, or make improvements to the existing assets of a company. Capital spending is different from other types of spending that focus on short-term operating expenses, such as overhead expenses or payments to suppliers and creditors. 115.2 Depreciation is used to expense the fixed asset

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

Capital expenditures are often employed to improve operational efficiency, increase revenue in the long term, or make improvements to the existing assets of a company. Capital spending is different from other types of spending that focus on short-term operating expenses, such as overhead expenses or payments to suppliers and creditors. 115.2 Depreciation is used to expense the fixed asset

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

Capital expenditures are often employed to improve operational efficiency, increase revenue in the long term, or make improvements to the existing assets of a company. Capital spending is different from other types of spending that focus on short-term operating expenses, such as overhead expenses or payments to suppliers and creditors. 115.2 Depreciation is used to expense the fixed asset

DALPAT BARAIYA,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-3(3)(1), AHMEDABAD

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

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

capital gain of Rs.12,97,910/-. The assessee was issued with 148 notice dated 27-08-2022 for the Asst. Year 2016-17 after getting approval from Ld. PCIT on 23-08-2022 which is more than three years from the end of the relevant assessment year. As per Section 151

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

capital gain and determination of cost of\nacquisition, while confirming the reassessment proceedings and major\nadditions made by the Assessing Officer.\n6. The assessee is in appeal before us against the order passed by\nCIT(Appeals) dismissing the appeal of the assessee. The assessee has raised\nthe following Grounds of Appeal before us:\n“1. The Ld. CIT(A)-NFAC

STERLING ADDLIFE INDIA PRIVATE LTD.,,AHMEDABAD vs. PR. CIT-4,, AHMEDABAD

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

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No.967/Ahd/2018 ("नधा"रण वष"/Assessment Year : 2013-14) बनाम/ Sterling Addlife India The Pr.Cit-4 Pvt.Ltd. Ahmedabad Vs. Sterling Hospital Buildings Off Gurukul Road Memnagar Ahmedabad-380 052 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadca 0897 M (अपीलाथ"/Appellant) (""यथ" / Respondent) .. अपीलाथ" ओर से/ Appellant By : Shri Dinal Shah & A.C.Shah, Ars ""यथ" क" ओर से/Respondent By: Shri Mahesh Shah, Cit-Dr सुनवाई क" तार"ख/ Date Of Hearing 28/01/2019 घोषणा क" तार"ख /Date Of Pronouncement 27/03/2019 आदेश / O R D E R Per Waseem Ahmed: The Captioned Appeal Has Been Filed At The Instance Of The Assessee Against The Order Of The Commissioner Of Income Tax–4, Ahmedabad [Cit In Short] Dated 28/03/2018 Relevant To Assessment Year (Ay) 2013-14. 2. The Assessee Has Raised The Following Grounds Of Appeal:-

capital gain is properly worked out since the premium is paid to the government as per Clause No. 11 of agreement to sale. So far as the payment is concerned, the AO has examined the payment properly and satisfied about the same and therefore he has allowed the deduction. The premium is paid as per Clause No. 11 of agreement

SHRI NAVINCHANDRA N. PATEL,VADODARA vs. THE ACIT, CIRCLE-1(2), VADODARA

In the result, the appeal of the assessee is allowed

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

capital gain. (ii) Scrutiny of records, it was noticed from the assets of the balance sheet for AY 2012- 13 that there was an agricultural land amounting to Rs. 1.73,25,167 (including land purchased during the year R.S. no. 665/P/l for Rs. 15.54,000) under the head investment. However, the balance sheet of the previous 'year

THE ACIT, CIRCLE-7,, AHMEDABAD vs. SMT. USHABEN P. MEHTA,, AHMEDABAD

In the result, the appeals filed by the Assessees are allowed consequently the Revenue appeals are dismissed

capital gains". In view of the above, I have reason to believe that the income has escaped assessment and therefore this proposal. (RANJIT SAH) Income Tax Officer, Ward-7(2), Ahmedabad 5.1. The assessee counsel also taken us through the paper book wherein an approval u/s. 151 of the Act is given by the Joint Commissioner of Income Tax Range

THE INCOME TAX OFFICER, WARD-3(3)(5),, AHMEDABAD vs. SMT. SONAL D. MEHTA,, AHMEDABAD

In the result, the appeals filed by the Assessees are allowed consequently the Revenue appeals are dismissed

capital gains". In view of the above, I have reason to believe that the income has escaped assessment and therefore this proposal. (RANJIT SAH) Income Tax Officer, Ward-7(2), Ahmedabad 5.1. The assessee counsel also taken us through the paper book wherein an approval u/s. 151 of the Act is given by the Joint Commissioner of Income Tax Range

SMT. RAKSHABEN S. MEHTA,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-3(3)(2), ( ERSTWHILE ACIT, CIRCLE-7),, AHMEDABAD

In the result, the appeals filed by the Assessees are allowed consequently the Revenue appeals are dismissed

capital gains". In view of the above, I have reason to believe that the income has escaped assessment and therefore this proposal. (RANJIT SAH) Income Tax Officer, Ward-7(2), Ahmedabad 5.1. The assessee counsel also taken us through the paper book wherein an approval u/s. 151 of the Act is given by the Joint Commissioner of Income Tax Range

SMT. SONAL D. MEHTA,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-3(3)(5), (ERSTWHILE ACIT, CIRCLE-7),, AHMEDABAD

In the result, the appeals filed by the Assessees are allowed consequently the Revenue appeals are dismissed

capital gains". In view of the above, I have reason to believe that the income has escaped assessment and therefore this proposal. (RANJIT SAH) Income Tax Officer, Ward-7(2), Ahmedabad 5.1. The assessee counsel also taken us through the paper book wherein an approval u/s. 151 of the Act is given by the Joint Commissioner of Income Tax Range