SARLABEN R. ARORA,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-10(3),, AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Ms Madhumita Royअपील सं./Ita No.2072/Ahd/2015 & "नधा"रण वष"/Asstt. Year:2007-2008

197/- as long term capital gain taking into consideration of the date of payment made and acquired possession thereof and offering long term capital gain after claiming deduction of cost of acquisition and cost of indexation of Rs.18,71,803/- and investment of 50 cr in REC bond does not suffer from any ambiguity. Merely non registration of the deed

HARSHADKUMAR AMRUTLAL PATEL,MEHSANA vs. DCIT, MEHSANA CIRCLE, MEHSANA

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

Bench: Shri Pradip Kumar Kedia & Smt. Madhumita Royआयकर अपील सं./I.T.A. No. 361/Ahd/2019 ("नधा"रण वष" / Assessment Year : 2015-16)

capital gain as declared in the return of income be accepted and the AO's finding in this regard be reversed. 6.1 Since the AO has referred to definition as provided in section 2(13) of the Act, the issue is required to be examined with reference to this definition. As per the definition of section

SHRI SUBHASH BECHULAL SONI,AHMEDABAD vs. THE INCOME TAX OFFICER,WARD-6(4),, AHMEDABAD

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

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No. 220/Ahd/2018 िनधा"रण वष"/Asstt. Year: 2009-10 Subhash Bechulal Soni, I.T.O., B/H Shahwadi Bus Stand, Vs. Ward-6(4), Shahwadi, Ahmedabad. Narol, Ahmedabad-382405. Pan: Adzps9498J

section 271(1)© of the Act dated 20 December 2011. During the penalty proceedings, the assessee was given opportunities to place his points of contention with respect to the penalty proceedings initiated against him. But the assessee did not comply the same. In the absence of any reply from the side of the assessee, the AO concluded that the assessee

SHRI GANPATBHAI JETHABHAI PATEL,AHMEDABAD vs. THE INCOME TAX OFFICER,WARD-9(2),, AHMEDABAD

In the result, the appeal filed by the Revenue is dismissed, and the appeal filed by the assessee is partly allowed

section 55(2)(ii) of the Act. As such, the expenditure incurred for any addition/ alteration to the capital assets is only eligible for the deduction as the cost of the improvement. Page 4 of 11 ITA nos.170-398/Ahd/2012 and others Asstt. Year 2008-09. 2.3 In view of the above, the AO did not allow the deduction to the assessee

TORRENT PHARMACEUTICALS LTD.,,AHMEDABAD vs. THE DEPUTY COMMISSIONER OF INCOME TAX (OSD) CIRCLE-8,, AHMEDABAD

In the result appeal of the Revenue is partly allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita.No.1285 & 1286/Ahd/2017 िनधा"रण वष"/Asstt. Year: 2009-10 & 2010-11 & Ita No.1396 & 1397/Ahd/2018 Asstt.Year 2011-12 & 2012-13 Torrent Pharmaceuticals Ltd. Acit, Circle-4(1)(2) Torrent House Ahmedabad. Vs. Off.Ashram Road Ahmedabad 380 009. आयकर अपील सं./Ita.No.1327 & 1328/Ahd/2017 िनधा"रण वष"/ Asstt. Year: 2009-10 & 2010-11 & आयकर अपील सं./Ita.No.1414 & 1415/Ahd/2018 िनधा"रण वष"/ Asstt. Year: 2011-12 & 2012-13 Acit, Circle-4(1)(2) Torrent Pharmaceuticals Ltd. Ahmedabad. Torrent House Vs. Off.Ashram Road Ahmedabad 380 009. (Applicant) (Responent) Assessee By : Shri Vartik Choksi, With Shri Biren Shah, Ars. Revenue By : Shri Mohd. Usman, Cit-Dr सुनवाई क" तारीख/Date Of Hearing : 23/11/2021 घोषणा क" तारीख /Date Of Pronouncement: 22/02/2022 आदेश/O R D E R Per Bench

section (5) of Section 80-IA. In this case, the question that arose for consideration ITA.Nos.1285/Ahd/2017 & 7 others A.Y.2009-10 38 before this Court related to computation of the profits for the purpose of deduction under section 80-E, as it then existed, after setting off the loss incurred by the assessee in the manufacture of alloy steels. Section

THE ITO, WARD-3(3)(4),, AHMEDABAD vs. RAEVA PARIKH TRUST,, AHMEDABAD

In the result, the appeal is dismissed

197 ITR 156 laid down the same principle. 6.8 Similarly since the trustee is to be assessed in the like manner and to the same extent the income of the trustee is to be computed after granting permissible deduction. In the present case, the trustee has fulfilled the conditions of Section 54 in as much as the capital gain

SHRI SANJAY RAMANLAL BHATT,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-14(1), NOW WARD-5(1)(3), AHMEDABAD

Section 144A itself, may please be deleted. 2.1 In the facts and circumstances of the case as well as in law, the learned Commissioner of Income Tax (Appeals), Ahmedabad-5, Ahmedabad has grossly erred in confirming the action of the AO in making addition for an amount of Rs.85,00,658/- on account of short term capital gain on transfer

DCIT, CIR.1(1)(1),, AHMEDABAD vs. AWN AGRO PVT. LTD., 2014-15

In the result, the appeal of the revenue and the cross objection of the assessee both are dismissed

section 143(3) of the Income Tax Act, 1961; in short “the Act”. 2. The solitary ground of appeal of the revenue is against the decision of ld. CIT(A) in deleting the addition of Rs. 8,50,70,594/- made on account of disallowance of foreign exchange fluctuation loss. 3. The brief fact of the case is return

THE JOINT COMMISSIONER OF INCOME TAX(OSD),, GANDHINAGAR vs. SABARMATI GAS LIMITED,, GANDHINAGAR

Appeal of the Revenue is partly allowed for statistical purposes

197-200 for A.Y 2014-15. 14. He further contended that the Revenues contention that the pipelines were constructed in tranches and therefore it was necessary for the assessee to establish connection of the newly added tranches with the Grid for the purposes of demonstrating user of the asset for claiming depreciation, was not based on correct appreciation of facts

SABARMATI GAS LIMITED,,AHMEDABAD vs. THE ASSTT. COMMISSIONER OF INCOME TAX, GANDHINAGAR CIRCLE,, GANDHINAGAR

Appeal of the Revenue is partly allowed for statistical purposes

197-200 for A.Y 2014-15. 14. He further contended that the Revenues contention that the pipelines were constructed in tranches and therefore it was necessary for the assessee to establish connection of the newly added tranches with the Grid for the purposes of demonstrating user of the asset for claiming depreciation, was not based on correct appreciation of facts

M/S. FAG BEARINGS INDIA LTD.,BARODA vs. THE ACIT, CIRCLE-1(2),, BARODA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

gain from foreign exchange fluctuation of Rs.1,16,29,805/- under clause (baa) of the Explanation below section 80HHC, without appreciating the import of residuary clause of "any other receipt of a similar nature", which excludes all those receipts which do not form part of turnover akin to export turnover in order to avoid distortion in the working of profits

M/S. FAG BEARINGS INDIA LTD.,,BARODA vs. THE CIT-I,, BARODA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

gain from foreign exchange fluctuation of Rs.1,16,29,805/- under clause (baa) of the Explanation below section 80HHC, without appreciating the import of residuary clause of "any other receipt of a similar nature", which excludes all those receipts which do not form part of turnover akin to export turnover in order to avoid distortion in the working of profits

THE ACIT, CIRCLE-5, AHMEDABAD vs. M/S. NABROS PHARMA LTD., AHMEDABAD

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

gain from foreign exchange fluctuation of Rs.1,16,29,805/- under clause (baa) of the Explanation below section 80HHC, without appreciating the import of residuary clause of "any other receipt of a similar nature", which excludes all those receipts which do not form part of turnover akin to export turnover in order to avoid distortion in the working of profits

M/S. FAG BEARINGS INDIA LTD.,,BARODA vs. THE ACIT.,CIRCLE-1(2),(TPO), BARODA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

gain from foreign exchange fluctuation of Rs.1,16,29,805/- under clause (baa) of the Explanation below section 80HHC, without appreciating the import of residuary clause of "any other receipt of a similar nature", which excludes all those receipts which do not form part of turnover akin to export turnover in order to avoid distortion in the working of profits

THE ACIT, CIRCLE-1(2),, BARODA vs. M/S. FAG BEARINGS INDIA LTD.,, VADODARA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

gain from foreign exchange fluctuation of Rs.1,16,29,805/- under clause (baa) of the Explanation below section 80HHC, without appreciating the import of residuary clause of "any other receipt of a similar nature", which excludes all those receipts which do not form part of turnover akin to export turnover in order to avoid distortion in the working of profits

M/S. FAG BEARINGS INDIA LTD.,,BARODA vs. THE DY.CIT.,CIRCLE-1(2),, BARODA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

gain from foreign exchange fluctuation of Rs.1,16,29,805/- under clause (baa) of the Explanation below section 80HHC, without appreciating the import of residuary clause of "any other receipt of a similar nature", which excludes all those receipts which do not form part of turnover akin to export turnover in order to avoid distortion in the working of profits

TORRENT POWER LTD.,,AHMEDABAD vs. THE ACIT.,RANGE-8,, AHMEDABAD

In the result cross objection filed by the assessee is partly allowed for statistical purposes

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 80-IA of the Act. 69. The learned CIT (A) disregarded the contention of the assessee by observing that the impugned income does not have nexus with the distribution of power activity of the assessee. Thus the learned CIT (A) upheld the finding of the AO. 70. Being aggrieved by the order of the learned CIT (A), the assessee

GPSAR HEALTH CARE LTD.,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-4,, AHMEDABAD

In the result, both the appeals filed by the revenue on this issue for A

section 73 of the income tax act, the loss assessed from share trading business of any company, the income of which is not from house property, I.T.A Nos. 2894, 2895, 2905 & 2906/Ahd/2016 A.Y. 2011-12 & 2012-13 Page No 3 GPSAR Health Care Ltd. vs. DCIT/ITO capital gain, interest of security and income from other sources is deemed