ALPA UDAYKUMAR SHAH,,BHAVNAGAR vs. ITO, WARD-1(2),, BHAVNAGAR

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed, Accountant Memebr & Shri Siddhartha Nautiyal, Judicial Memebr

Section 68 of the Act. It is recorded that "There is no dispute that the shares of the two companies were purchased online, the payments have been made through banking channel, and the shares were dematerialized and the sales have been routed from de-mat account and the consideration has been received through banking channels." The above noted factors, including

VIVEK SURESH AGRAWAL-HUF,AHMEDBAD vs. THE ITO, WARD-3(3)(15), AHMEDABAD

In the result, appeal of the assessee is dismissed

capital gain along with various decisions referred in submissions. It is observed that shares in which Appellant has carried out transaction is penny stock and entire circumstantial evidences clearly suggest that Appellant has obtained accommodation entries.” 6. The assessee is in appeal against us against the aforesaid order of Ld. CIT(Appeals). Before us, none appeared on behalf

THE DCIT, CIRCLE-1(3), , AHMEDABAD vs. SHAH INVESTORS HOME LTD,, AHMEDABAD

In the result, both the appeals of the Revenue are dismissed

Bench: Shri Mahavir Prasad & Shri Amarjit Singh)

206/-, payment of charges to NSDL of Rs. 19,47,551/- and payment of charges to CDSL of Rs. ITA Nos. 2312 & 2313/Ahd/2017 3 & C.O. Nos. 08 & 09/Ahd/2019 . A.Ys. 2012-13 & 2013-14 1,14,121/- for lower rate of deduction/non-deduction of TDS. The assessee also submitted the details before the ld. A.O. But ld. A.O. was not convinced with

SMT. SWETALBEN R.VORA,BHAVNAGAR vs. THE DY.CIT.,CIRCLE-1,, BHAVNAGAR

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

section 143(3) of the Income Tax Act, 1961; in short “the Act”. 2. The assessee has raised following grounds of appeal:- “1. The Id. CIT(A) has erred both in law and on the facts of the case in upholding the disallowance of Rs.7,26,151/- being 75% of total disallowance of brokerage and commission expenditure of Rs.9

DEVENDRA NARENDRABHAI THAKKER,,AHMEDABAD vs. ACIT, CIRCLE-5(2), AHMEDABAD

In the result, the appeal of the assessee is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./I.T.A. No. 762/Ahd/2018 ("नधा"रण वष" / Assessment Year : 2011-12) Devendra Narendrabhai Acit, बनाम/ Thakker, Cir – 5(2), Vs. C/O Maffick Logistics, 228, Ahmedabad. Akshar Arcade, Opp. Memnagar Fire Station, Navrangpura, Ahmedabad-14 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Abfpt 6354 E .. (अपीलाथ" /Appellant) (""यथ" / Respondent) अपीलाथ" ओर से / Appellant By : Shri Jyotish M. Shah, A.R. ""यथ" क" ओर से/Respondent By : Shri Prasoon Kabra, Sr.D.R.

section 54G of the Act. Further the new capital asset purchased is Devendra Narendrabhai Thakker vs. ACIT Asst.Year –2011-12 also situated at Ahmedabad and comes under territory of urban area of Ahmedabad, This clearly shows that the appellant has failed to fulfill both the conditions prescribed u/s.54G of the Act. In spite of that the appellant has claimed deduction

SHRI CHANNANSINGH S. GILL,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-8(1),, AHMEDABAD

In the result, the appeal is allowed in the terms indicated above

section 54F(2), the deduction from capital gain u/s.54F amounting to Rs.44,49,206/- should be taxed in the A.Y. 2009-10 as deemed

DEPUTY COMMISSIONER OF INCOME -TAX, CENTRAL CIRCLE-1(1), AHMEDABAD, AHMEDABAD vs. SANJAY PRATAPRAI MEHTA, BHAVNAGAR

In the result, appeal of the Department is dismissed

Bench: Shri Siddhartha Nautiyal & Shri Makarand Vasant Mahadeokar

Section 68 of the Act. It is recorded that "There is no dispute that the shares of the two companies were purchased online, the payments have been made through banking channel, and the shares were dematerialized and the sales have been routed from de-mat account and the consideration has been received through banking channels." The above noted factors, including

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

M/S. GUJARAT INDUSTRIAL INVESTMENT CORPORATION LTD.,GANDHINAGAR vs. THE ADDL.CIT.,GANDHINAGAR CIRCLE,, GANDHINAGAR

Appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

capital gains on sale of such equity is exempt. The assessee has started taking decisions about sale of such equity is also. All this requires considerable management time and expenses. Looking to and prom expenses are over Rs.5 crores and other expenses also requires to be proportioned; I uphold a disallowance of Rs.25,00,000/- u/s.14A

THE ACIT,GNR CIRCLE,, GANDHINAGAR vs. M/S. GUJARAT INDUSTRIAL INVESTMENT CORPORATION LTD., GANDHINAGAR

Appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

capital gains on sale of such equity is exempt. The assessee has started taking decisions about sale of such equity is also. All this requires considerable management time and expenses. Looking to and prom expenses are over Rs.5 crores and other expenses also requires to be proportioned; I uphold a disallowance of Rs.25,00,000/- u/s.14A

THE DCITGANDHINAGAR CIRCLE,, GANDHINAGAR vs. M/S. GUJARAT INDUSTRIAL INVESTMENT CORPORATION, GANDHINAGAR

Appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

capital gains on sale of such equity is exempt. The assessee has started taking decisions about sale of such equity is also. All this requires considerable management time and expenses. Looking to and prom expenses are over Rs.5 crores and other expenses also requires to be proportioned; I uphold a disallowance of Rs.25,00,000/- u/s.14A

M/S. GUJARAT INDUSTRIAL INVESTMENT CORPORATION,GANDHINAGAR vs. THE DY.CIT.,GANDHINAGAR CIRCLE,, GANDHINAGAR

Appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

capital gains on sale of such equity is exempt. The assessee has started taking decisions about sale of such equity is also. All this requires considerable management time and expenses. Looking to and prom expenses are over Rs.5 crores and other expenses also requires to be proportioned; I uphold a disallowance of Rs.25,00,000/- u/s.14A

M/S. GUJARAT INDUSTRIAL INVESTMENT CORPORATION LTD.,GANDHINAGAR vs. THE JT.CIT.,GNR RANGE,, GANDHINAGAR

Appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

capital gains on sale of such equity is exempt. The assessee has started taking decisions about sale of such equity is also. All this requires considerable management time and expenses. Looking to and prom expenses are over Rs.5 crores and other expenses also requires to be proportioned; I uphold a disallowance of Rs.25,00,000/- u/s.14A

THE ACIT,GNR CIRCLE,, GANDHINAGAR vs. M/S. GUJARAT INDUSTRIAL INVESTMENT CORPORATION LTD., GANDHINAGAR

Appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

capital gains on sale of such equity is exempt. The assessee has started taking decisions about sale of such equity is also. All this requires considerable management time and expenses. Looking to and prom expenses are over Rs.5 crores and other expenses also requires to be proportioned; I uphold a disallowance of Rs.25,00,000/- u/s.14A

JT. CTI (OSD), CIRCLE-3(1)(1),, AHMEDABAD vs. M/S. NIRMA LIMITED,, AHMEDABAD

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

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

gains would be determined in the prescribed manner. Rule 8AC has been prescribed for this purpose.  Section 55: Meaning of 'Cost of Acquisition' in case of Goodwill of Business or Profession has been amended to provide that • in case it is acquired from a previous owner, the cost would be the amount of purchase price paid. • in case

NIRMA LIMITED,,AHMEDABAD vs. DCIT, CIRCLE-3(1)(1),, AHMEDABAD

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

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

gains would be determined in the prescribed manner. Rule 8AC has been prescribed for this purpose.  Section 55: Meaning of 'Cost of Acquisition' in case of Goodwill of Business or Profession has been amended to provide that • in case it is acquired from a previous owner, the cost would be the amount of purchase price paid. • in case

M/S. NIRMA LIMITED,,AHMEDABAD vs. THE DCIT, CIRCLE-3(1)(1),, AHMEDABAD

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

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

gains would be determined in the prescribed manner. Rule 8AC has been prescribed for this purpose.  Section 55: Meaning of 'Cost of Acquisition' in case of Goodwill of Business or Profession has been amended to provide that • in case it is acquired from a previous owner, the cost would be the amount of purchase price paid. • in case

THE DCIT, CIR-3(1)(1), AHMEDABAD vs. M/S. NIRMA LIMITED,, AHMEDABAD

In the result, all the appeals filed by the Revenue and the appeals for AYs 2012-

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

gains would be determined in the prescribed manner. Rule 8AC has been prescribed for this purpose.  Section 55: Meaning of 'Cost of Acquisition' in case of Goodwill of Business or Profession has been amended to provide that • in case it is acquired from a previous owner, the cost would be the amount of purchase price paid. • in case