RECKITT BENCKISER HEALTHCARE INDIA PVT. LTD., ( FORMERLY KNOWN AS RECKITT BENCKISER HEALTHCARE INDIA LTD.,),HARYANA vs. DCIT, CIRCLE-3(1)(2), AHMEDABAD

In the result, appeal of the Revenue is dismissed

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

capital gains under section 45 of the Act, and distribution of new shares allotted by Sterling as being distributed by the assessee to its shareholders as dividend under section 2(22

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 2 1 1, AHMEDABAD, AHMEDABAD vs. BHARAT LAKHAJI NANDWANA, AHMEDABAD

In the result, the appeal filed by the Department is allowed for statistical purposes

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

capital gain by the learned CIT(A). Accordingly, the ground raised by the Revenue on this issue is dismissed. 22. With respect to the issue relating to investment in bonds under section

THE ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), AHMEDABAD vs. SHRI KAILASH RAMAVATAR GOENKA, AHMEDABAD

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokar

22,15,26,118 1,06,44,45,543 3.2. Amounts relating to A.Y. 2015-16 are not part of the above summarized tables as we are not dealing with the appeal of the said A.Y. 3.3. Notices under Section 153A of the Act were issued, requiring the assessee to file returns for multiple years. Accordingly, the assessee filed returns

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

gain on sale of land Rs.49,00,000/- Undisclosed capital on sale of land 22. With respect to levy of penalty under Section

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

gain on sale of land Rs.49,00,000/- Undisclosed capital on sale of land 22. With respect to levy of penalty under Section

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

gain on sale of land Rs.49,00,000/- Undisclosed capital on sale of land 22. With respect to levy of penalty under Section

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

gain on sale of land Rs.49,00,000/- Undisclosed capital on sale of land 22. With respect to levy of penalty under Section

SHRI ROHITJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

gain on sale of land Rs.49,00,000/- Undisclosed capital on sale of land 22. With respect to levy of penalty under Section

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

gain on sale of land Rs.49,00,000/- Undisclosed capital on sale of land 22. With respect to levy of penalty under Section

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

gain on sale of land Rs.49,00,000/- Undisclosed capital on sale of land 22. With respect to levy of penalty under Section

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

gain on sale of land Rs.49,00,000/- Undisclosed capital on sale of land 22. With respect to levy of penalty under Section

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

gain on sale of land Rs.49,00,000/- Undisclosed capital on sale of land 22. With respect to levy of penalty under Section

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

22. In the case of Smt. M.K. Rajeshwari v. ITO [2018] 99 taxmann.com 339 (Bangalore - Trib.), the Tribunal held that where assessee claimed exemption under section 10(38) in respect of capital gain

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

22. In the case of Smt. M.K. Rajeshwari v. ITO [2018] 99 taxmann.com 339 (Bangalore - Trib.), the Tribunal held that where assessee claimed exemption under section 10(38) in respect of capital gain

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

22. In the case of Smt. M.K. Rajeshwari v. ITO [2018] 99 taxmann.com 339 (Bangalore - Trib.), the Tribunal held that where assessee claimed exemption under section 10(38) in respect of capital gain

SHRI KIRANKUMAR RASIKLAL SANGHVI,DEESA vs. THE PR.CIT-4,, AHMEDABAD

The appeal of the assessee is allowed

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarिनधा"रण वष"/Assessment Year: 2015-16 Shri Kirankumar Rasiklal Sanghvi, The Principal Commissioner Of 1, Paras Society, Neminathnagar Income-Tax-4, Vs. Road, Deesa, Gujarat-385535 Ahmedabad Pan : Afops 0131 D अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" "" यथ" "" "" यथ" यथ"/ (Respondent) यथ" Assessee By : Shri Manish J. Shah & Shri Rushin Patel, Ars Revenue By : Shri Durga Dutt, Cit-Dr सुनवाई क" तारीख/Date Of Hearing : 12.09.2024 घोषणा क" तारीख /Date Of Pronouncement: 24.09.2024 आदेश आदेश/O R D E R आदेश आदेश Per Annapurna Gupta: This Appeal Filed By The Assessee Is Directed Against The Order Passed By The Learned Principal Commissioner Of Income-Tax-4, Ahmedabad [Herein- After Referred To As “Pcit”] Dated 03.03.2020, In Exercise Of His Revisionary Powers Under Section 263 Of The Income-Tax Act, 1961 [Hereinafter Referred To As “The Act”], For The Assessment Year (Ay) 2015-16. 2. The Registry Has Noted The Present Appeal To Be Barred By Limitation By 1355 Days. The Ld. Counsel For The Assessee Explained That There Was, In Fact, No Delay In Filing The Appeal Before The Tribunal For The Reason That The Assessee Had Inadvertently Filed The Appeal Against The Order Of The Ld. Pcit Before The Surat Bench Of The Itat Which, When The Appeal Came Up For Hearing Before It, Passed A Judicial Order Dated 21.11.2023 Dismissing The Appeal As Withdrawn, Noting The Fact That The Correct Jurisdiction Lay With The 2 Shri Kirankumar Rasiklal Sanghvi Vs. Pcit Ay : 2015-16

gains on sale of transfer of capital assets. That it provides exemption also on investment in capital assets. He further pointed out that the ld. PCIT has given no basis whatsoever, nor any reasoning to arrive at the finding that even assets not qualifying as capital assets and being in the nature of stock in trade are to be considered

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

22– jurisdictional High Court, the decision of the Karnataka High Court being the only High Court judgment directly on the issue deserves to be respectfully followed in terms of judicial discipline. 34. In the present case, the long-term capital gains have been credited to the profit and loss account prepared in accordance with the Companies Act. Once such gains

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

22– jurisdictional High Court, the decision of the Karnataka High Court being the only High Court judgment directly on the issue deserves to be respectfully followed in terms of judicial discipline. 34. In the present case, the long-term capital gains have been credited to the profit and loss account prepared in accordance with the Companies Act. Once such gains