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

gains must be considered as part of eligible income and recomputed the deduction under section 80-IE accordingly. Further, the assessee made additional claims during assessment ITA Nos. 847to850/Ahd/2025 & 912to915/Ahd/2025 DCIT vs. Eris Lifesciences Ltd. Eris Lifesciences Ltd. vs. DCIT Asst. Years–2018-19 & 2020-21 to 2022-23 - 4– proceedings namely exclusion of GST/excise refund from book profit

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

gains must be considered as part of eligible income and recomputed the deduction under section 80-IE accordingly. Further, the assessee made additional claims during assessment ITA Nos. 847to850/Ahd/2025 & 912to915/Ahd/2025 DCIT vs. Eris Lifesciences Ltd. Eris Lifesciences Ltd. vs. DCIT Asst. Years–2018-19 & 2020-21 to 2022-23 - 4– proceedings namely exclusion of GST/excise refund from book profit

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

gains must be considered as part of eligible income and recomputed the deduction under section 80-IE accordingly. Further, the assessee made additional claims during assessment ITA Nos. 847to850/Ahd/2025 & 912to915/Ahd/2025 DCIT vs. Eris Lifesciences Ltd. Eris Lifesciences Ltd. vs. DCIT Asst. Years–2018-19 & 2020-21 to 2022-23 - 4– proceedings namely exclusion of GST/excise refund from book profit

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

gains must be considered as part of eligible income and recomputed the deduction under section 80-IE accordingly. Further, the assessee made additional claims during assessment ITA Nos. 847to850/Ahd/2025 & 912to915/Ahd/2025 DCIT vs. Eris Lifesciences Ltd. Eris Lifesciences Ltd. vs. DCIT Asst. Years–2018-19 & 2020-21 to 2022-23 - 4– proceedings namely exclusion of GST/excise refund from book profit

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

gains must be considered as part of eligible income and recomputed the deduction under section 80-IE accordingly. Further, the assessee made additional claims during assessment ITA Nos. 847to850/Ahd/2025 & 912to915/Ahd/2025 DCIT vs. Eris Lifesciences Ltd. Eris Lifesciences Ltd. vs. DCIT Asst. Years–2018-19 & 2020-21 to 2022-23 - 4– proceedings namely exclusion of GST/excise refund from book profit

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

Appeal are dismissed

gains must be considered as\npart of eligible income and recomputed the deduction under section 80-IE\naccordingly. Further, the assessee made additional claims during assessment\nproceedings namely exclusion of GST/excise refund from book profit and\ngrant of indexation while computing book profit u/s 115JB. The AO rejected\nthese claims on the ground that such relief could be claimed only

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

Appeal are dismissed

gains must be considered as\npart of eligible income and recomputed the deduction under section 80-IE\naccordingly. Further, the assessee made additional claims during assessment\nproceedings namely exclusion of GST/excise refund from book profit and\ngrant of indexation while computing book profit u/s 115JB. The AO rejected\nthese claims on the ground that such relief could be claimed only

ACIT CC 2(3) AHMEDABAD, AHMEDABAD vs. AISHA DHIRAJ GOGIA, AHMEDABAD

In the result: 50. To summarize the final outcome:

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinha["ी संजय गग", "ाियक सद" एवं "ी नरे" साद िस!ा, लेखा सद" के सम#।]

Capital Gains under section 10(38) of the Act, treating the underlying shares as "penny stocks"; and (iv) Addition on account of alleged on-money received on the sale of property in the Earth Erita project. These additions were made based on material allegedly found during the search action, including digital data like WhatsApp chats retrieved from third-party mobile

RAHUL MONAL CHOKSHI,AHMEDABAD vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI PRESENT JURISDICTION : THE ITO, WARD-5(3)(2), AHMEDABAD

In the result, the appeal filed by the Assessee is allowed for statistical purpose

Bench: DR. BRR Kumar (Vice President), Shri T.R. Senthil Kumar (Judicial Member)

Capital Gains Account Scheme, 1988. Which thereafter is to be withdrawn and utilized as per the terms contemplated in the said statutory provision. Thus Section 54F, neither provides as a pre-condition the requirement of filing of the 'return of income' by the assessee within the stipulated time period, nor places any embargo as regards the claim of such exemption

JHAVERI TRADING AND INVESTMENT PVT.LTD.,AHMEDABAD vs. THE DCIT, CENT. CIR. 1(1), AHMEDABAD

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

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकर अपील सं./Ita Nos. 401 To 403/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2012-2013 To 2014-2015) & आयकर अपील सं./Ita Nos. 399 & 400/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2010-2011 & 2011-12)

capital gains in accommodation entries. (ix) The decision of Hon'ble Madhya Pradesh High Court in the case of Chain House International Pvt. Limited, ratio of such decision cannot be made applicable to present, as in the appellant's case no affidavits or confirmation of Mr. Shirish Shah was filed which proved that loan/ICD taken by Appellant is genuine, whereas

JHAVERI TRADING AND INVESTMENT PVT.LTD.,AHMEDABAD vs. THE DCIT, CENT. CIR. 1(1), AHMEDABAD

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

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकर अपील सं./Ita Nos. 401 To 403/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2012-2013 To 2014-2015) & आयकर अपील सं./Ita Nos. 399 & 400/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2010-2011 & 2011-12)

capital gains in accommodation entries. (ix) The decision of Hon'ble Madhya Pradesh High Court in the case of Chain House International Pvt. Limited, ratio of such decision cannot be made applicable to present, as in the appellant's case no affidavits or confirmation of Mr. Shirish Shah was filed which proved that loan/ICD taken by Appellant is genuine, whereas

JHAVERI TRADING AND INVESTMENT PVT.LTD.,AHMEDABAD vs. THE DCIT, CENT. CIR. 1(1), AHMEDABAD

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

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकर अपील सं./Ita Nos. 401 To 403/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2012-2013 To 2014-2015) & आयकर अपील सं./Ita Nos. 399 & 400/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2010-2011 & 2011-12)

capital gains in accommodation entries. (ix) The decision of Hon'ble Madhya Pradesh High Court in the case of Chain House International Pvt. Limited, ratio of such decision cannot be made applicable to present, as in the appellant's case no affidavits or confirmation of Mr. Shirish Shah was filed which proved that loan/ICD taken by Appellant is genuine, whereas

JHAVERI TRADING AND INVESTMENT PVT.LTD.,AHMEDABAD vs. THE DCIT, CENT. CIR. 1(1), AHMEDABAD

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

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकर अपील सं./Ita Nos. 401 To 403/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2012-2013 To 2014-2015) & आयकर अपील सं./Ita Nos. 399 & 400/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2010-2011 & 2011-12)

capital gains in accommodation entries. (ix) The decision of Hon'ble Madhya Pradesh High Court in the case of Chain House International Pvt. Limited, ratio of such decision cannot be made applicable to present, as in the appellant's case no affidavits or confirmation of Mr. Shirish Shah was filed which proved that loan/ICD taken by Appellant is genuine, whereas

JHAVERI TRADING AND INVESTMENT PVT.LTD.,AHMEDABAD vs. THE DCIT, CENT. CIR. 1(1), AHMEDABAD

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

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकर अपील सं./Ita Nos. 401 To 403/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2012-2013 To 2014-2015) & आयकर अपील सं./Ita Nos. 399 & 400/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2010-2011 & 2011-12)

capital gains in accommodation entries. (ix) The decision of Hon'ble Madhya Pradesh High Court in the case of Chain House International Pvt. Limited, ratio of such decision cannot be made applicable to present, as in the appellant's case no affidavits or confirmation of Mr. Shirish Shah was filed which proved that loan/ICD taken by Appellant is genuine, whereas

THE DCIT, CENTRAL CIRCLE-1(2),, AHMEDABAD vs. M/S. VOLGA INTERNATIONAL LTD.,, SARANGPUR

In the result appeal of the revenue is hereby dismissed

Bench: Shri Waseem Ahmed & Ms Madhumita Roy

capital gains was factually not correct. Therefore, after having regard to the facts and circumstances of the case and position of law on issue, in my considered opinion the action of the AO is not sustainable. Accordingly, the ground of appeal is allowed. 8. Being aggrieved by the order of the learned CIT(A), the Revenue is in appeal before

RANJITSINH KANUBHAI RATHOD,KALOL vs. ASSESSMENT UNIT, NFAC PRESENT JURIDICTION THE ITO, WARD-1, MEHSANA

Bench: Ms. Suchitra Kamble & Shri Narendra Prasad Sinha

Capital Gain. Though a search and seizure action was carried out in Kushal Group there was an independent inquiry and independent reasons given by the Assessing Officer for reopening assessee’s case. Therefore, the plea of the assessee that Section 153C should have been invoked does not come in picture. Therefore, Ground No. 2 and 3 of assessee’s appeal

RANJITSINH KANUBHAI RATHOD,KALOL vs. ASSESSMENT UNIT,NFAC PRESENT JURISDICTION THE ITO, WARD-1, MEHSANA

Bench: Ms. Suchitra Kamble & Shri Narendra Prasad Sinha

Capital Gain. Though a search and seizure action was carried out in Kushal Group there was an independent inquiry and independent reasons given by the Assessing Officer for reopening assessee’s case. Therefore, the plea of the assessee that Section 153C should have been invoked does not come in picture. Therefore, Ground No. 2 and 3 of assessee’s appeal

RANJITSINH KANUBHAI RATHOD,KALOL vs. ASSESSMENT UNIT, NFAC PRESENT JURIDICTION THE ITO, WARD-1, MEHSANA

Bench: Ms. Suchitra Kamble & Shri Narendra Prasad Sinha

Capital Gain. Though a search and seizure action was carried out in Kushal Group there was an independent inquiry and independent reasons given by the Assessing Officer for reopening assessee’s case. Therefore, the plea of the assessee that Section 153C should have been invoked does not come in picture. Therefore, Ground No. 2 and 3 of assessee’s appeal

DARPAN KANUBHAI SHAH,VADODARA vs. THE INCOME TAX OFFICER,WARD-3(1)(4), VADODARA

The appeal of the assessee is allowed for statistical purposes

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarआयकर अपील सं / Ita No. 123/Ahd/2024 िनधा"रण वष"/Assessment Year : 2018-19 बनाम बनाम बनाम बनाम Darpan Kanubhai Shah The Income-Tax Officer, C/O. Darpan Travels, Vs. Ward-3(1)(4), Near Ramji Mandir, Vadodara Madanzampa Road, Vadodara-390001 Pan : Agips 3405 P अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) िनधा"रती की ओर से / Assessee By : Shri Samir Parikh, Ar ""थ" की ओर से / Revenue By: Dr. Darsi Suman Ratnam, Cit-Dr सुनवाई की तारीख /Date Of Hearing : 22/04/2024 घोषणा की तारीख /Date Of Pronouncement: 05/07/2024 आदेश/O R D E R Per Annapurna Guptapresent Appeal Has Been Filed By The Assessee Against Order Of The Learned Commissioner Of Income-Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi [Hereinafter Referred To As "Cit(A)" For Short] Dated 22.11.2023 Passed Under Section 250 Of The Income-Tax Act, 1961 [Hereinafter Referred To As "The Act" For Short], For The Assessment Year (Ay) 2018-19. 2. Grounds Raised Are As Under :- “(1) The Learned Cit(Appeal) Is Not Correct In Holding That The Assessee Has Not Filed Return Of Income U/S 148. Consequently The Learned Cit (Appeal) Is Not Correct That The Appeal Is Not Liable To Be Admitted. (Ii) Alternatively Appeal Is Allowed By Set Aside The Order & Matter Referred Back To The Desk Of Hon. Cit For Reconsideration. Darpan Kanubhai Shah Vs. Ito Ay : 2018-19 2

Capital Gain earned by the assessee was computed by the Assessing Officer at Rs.52,41,028/- and, subjected to tax, adding it to the income of the assessee. 4. The matter was carried in appeal before the ld. CIT(A) who dismissed the assessee’s appeal as infructuous and non-maintainable, noting that the assessee had failed to fulfil