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

capital gains have been credited to the profit and loss account prepared in accordance with the Companies Act. Once such gains form part of net profit, the computation of their quantum must necessarily follow the computation mechanism contained in section 48, which statutorily mandates indexation. Denial of indexation would artificially inflate book profit and result in MAT being levied

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

capital gains have been credited to the profit and loss account prepared in accordance with the Companies Act. Once such gains form part of net profit, the computation of their quantum must necessarily follow the computation mechanism contained in section 48, which statutorily mandates indexation. Denial of indexation would artificially inflate book profit and result in MAT being levied

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

capital gains have been credited to the profit and loss account prepared in accordance with the Companies Act. Once such gains form part of net profit, the computation of their quantum must necessarily follow the computation mechanism contained in section 48, which statutorily mandates indexation. Denial of indexation would artificially inflate book profit and result in MAT being levied

DCIE CIRCLE-2(1)(1), AHEMDABAD, 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

capital gains have been credited to the profit and loss account prepared in accordance with the Companies Act. Once such gains form part of net profit, the computation of their quantum must necessarily follow the computation mechanism contained in section 48, which statutorily mandates indexation. Denial of indexation would artificially inflate book profit and result in MAT being levied

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

capital gains have been credited to the profit and loss account prepared in accordance with the Companies Act. Once such gains form part of net profit, the computation of their quantum must necessarily follow the computation mechanism contained in section 48, which statutorily mandates indexation. Denial of indexation would artificially inflate book profit and result in MAT being levied

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

Appeal are dismissed

capital gains have been credited to\nthe profit and loss account prepared in accordance with the Companies Act.\nOnce such gains form part of net profit, the computation of their quantum\nmust necessarily follow the computation mechanism contained in section 48,\nwhich statutorily mandates indexation. Denial of indexation would artificially\ninflate book profit and result in MAT being levied

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

Appeal are dismissed

capital gains have been credited to\nthe profit and loss account prepared in accordance with the Companies Act.\nOnce such gains form part of net profit, the computation of their quantum\nmust necessarily follow the computation mechanism contained in section 48,\nwhich statutorily mandates indexation. Denial of indexation would artificially\ninflate book profit and result in MAT being levied

M/S. SAHAJANAND LASER TECHNOLOGY LTD.,,GANDHINAGAR vs. THE ITO, WARD-4(1)(1),, AHMEDABAD

In the result, the appeal of the assessee for A

Bench: Ms. Suchitra Kamble & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. Nos. 15 & 16/Ahd/2020 (िनधा"रण वष" / Assessment Years : 2012-13 & 2013-14)

gains had not been included by application of provisions of sub-section 7B of section 10A, the ITA Nos. 15 & 16/Ahd/2020 (M/s. Sahajanand Laser Technology Ltd. vs. ITO] A.Ys. 2012-13 & 2013-14 - 12 – undertaking being unit shall be entitled to deduction referred to in this sub- section only for the unexpired period of ten consecutive assessment years and thereafter

M/S. SAHAJANAND LASER TECHNOLOGY LTD.,,GANDHINAGAR vs. THE DCIT, CIRCLE-4(1)(1),, AHMEDABAD

In the result, the appeal of the assessee for A

Bench: Ms. Suchitra Kamble & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. Nos. 15 & 16/Ahd/2020 (िनधा"रण वष" / Assessment Years : 2012-13 & 2013-14)

gains had not been included by application of provisions of sub-section 7B of section 10A, the ITA Nos. 15 & 16/Ahd/2020 (M/s. Sahajanand Laser Technology Ltd. vs. ITO] A.Ys. 2012-13 & 2013-14 - 12 – undertaking being unit shall be entitled to deduction referred to in this sub- section only for the unexpired period of ten consecutive assessment years and thereafter

SHAMA AJAY PATEL,AHMEDABAD vs. THE CIT(IT & TP), AHMEDABAD

The appeal of the assessee is allowed

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarिनधा"रण वष"/Assessment Year: 2017-18 Shama Ajay Patel, Vs. 2, Chandroday Society, The Cit(It & Tp), Opp. Golden Triangle, Sp Ahmedabad Stadium Road, Navjivan Post, Ahmedabad-380014 Pan : Alxpp 5273 E अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" "" यथ" "" "" यथ" यथ"/ (Respondent) यथ" Assessee By : Shri Sunil Talati, Ar Revenue By : Dr. Darsi Suman Ratnam, Cit-Dr सुनवाई क" तारीख/Date Of Hearing : 01.02.2024 घोषणा क" तारीख /Date Of Pronouncement: 26.04.2024 आदेश आदेश/O R D E R आदेश आदेश Per Annapurna Gupta: The Present Appeal Filed By The Assessee Is Directed Against The Order Passed By The Learned Commissioner Of Income-Tax (It & Tp), Ahmedabad [Hereinafter Referred To As Ld. "Cit(It & Tp)" For Short] Dated 08.02.2023, 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) 2017-18. 2. The Grounds Raised By The Assessee Challenging The Impugned Order Of The Ld. Cit (It & Tp) Reads As Under:- “1. The Ld. Cit Has Erred In Passing Order U/S 263 Without Jurisdiction & Appropriate Powers Available Under The Act. It Is Submitted That The Order Passed U/S. 263 Is Bad In Law As A.O. Has Neither Committed Any Error Nor It Is Prejudicial To The Interest Of Revenue. It Be Held Now.

Section 263 of the Act as found by the ld. CIT (IT & TP). 10. Undoubtedly, the assessment order sought to be revised was passed u/s 147 of the Act on reopening the case of the assessee for the specific reason that the Assessing Officer had information regarding the dubious dealing in shares of M/s. Kushal Limited. Clearly, the scope

YOGESH JASHUBHAI PATEL,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-3(4) NOW WARD- 1(2)(1), AHMEDABAD

In the result, both the appeals filed by the assessee are allowed

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal1. आयकर अपील सं /Ita No.158/Ahd/2023, Asst.Year 2011-12 2. आयकर अपील सं /Ita No.159/Ahd/2023, Asst.Year 2011-12 Yogesh Jashubhai Patel, The Income Tax Officer Harivallabh Society बनाम/ Ward-3(4) V/S. Naroda Now Ward-1(2)(1) Opp. Devi Cinema Ahmedabad – 380 051 Ahmedabad – 382 345 "थायी लेखा सं./Pan: Audpp 9058 L (अपीलाथ"/ Appellant) ("" यथ"/ Respondent) Assessee By : Shri M.K. Patel, Advocate Revenue By : Shri C. Dharani Nath, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 16/09/2025 घोषणा की तारीख /Date Of Pronouncement: 06/11/2025 आदेश/O R D E R Per Siddhartha Nautiyal, Jm: The Present Appeals Have Been Preferred By The Assessee Against The Order Of The Learned Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi [Hereinafter Referred To As ‘Cit(A)’] Dated 06/01/2023 Passed U/S.250 Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) For The Assessment Year (Ay) 2011-2012. 2. The Assessee Has Raised The Following Grounds Of Appeal In Ita No.158/Ahd/2023:

Capital Gains” by reducing the cost of acquisition of land as on 01.04.1981 from Rs. 1,25,220/- to Rs. 60,000/-. The Assessing Officer made this substitution purely on an estimated basis, without citing any comparable sale instances, independent valuation, or expert opinion. Such estimation without cogent evidence or technical basis cannot be sustained in law. Once the assessee

YOGESH JASHUBHAI PATEL,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-3(4) NOW WARD- 1(2)(1), AHMEDABAD

In the result, both the appeals filed by the assessee are allowed

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal1. आयकर अपील सं /Ita No.158/Ahd/2023, Asst.Year 2011-12 2. आयकर अपील सं /Ita No.159/Ahd/2023, Asst.Year 2011-12 Yogesh Jashubhai Patel, The Income Tax Officer Harivallabh Society बनाम/ Ward-3(4) V/S. Naroda Now Ward-1(2)(1) Opp. Devi Cinema Ahmedabad – 380 051 Ahmedabad – 382 345 "थायी लेखा सं./Pan: Audpp 9058 L (अपीलाथ"/ Appellant) ("" यथ"/ Respondent) Assessee By : Shri M.K. Patel, Advocate Revenue By : Shri C. Dharani Nath, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 16/09/2025 घोषणा की तारीख /Date Of Pronouncement: 06/11/2025 आदेश/O R D E R Per Siddhartha Nautiyal, Jm: The Present Appeals Have Been Preferred By The Assessee Against The Order Of The Learned Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi [Hereinafter Referred To As ‘Cit(A)’] Dated 06/01/2023 Passed U/S.250 Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) For The Assessment Year (Ay) 2011-2012. 2. The Assessee Has Raised The Following Grounds Of Appeal In Ita No.158/Ahd/2023:

Capital Gains” by reducing the cost of acquisition of land as on 01.04.1981 from Rs. 1,25,220/- to Rs. 60,000/-. The Assessing Officer made this substitution purely on an estimated basis, without citing any comparable sale instances, independent valuation, or expert opinion. Such estimation without cogent evidence or technical basis cannot be sustained in law. Once the assessee

DIPA PRAKASHKUMAR VELANI,AHMEDABAD vs. THE ITO, WARD-1(2), BHAVNAGAR

In the result, the appeal filed by the assessee is allowed for statistical\npurposes

2,08,780/-\nwas incurred and declared short term capital gains of ₹58,220/- in her\nreturn. However, the Assessing Officer rejected her explanation and found\nher claims to be unsubstantiated. The Assessing Officer noted that it was\nimplausible for the assessee to have received the sale proceeds from a\nbuyer before acquiring the property. Further, the AO held that

PRAVINSINH BHAWANSINH VAGHELA,GANDHINAGAR vs. THE INCOME TAX OFFICER,WARD-3,, GANDHINAGAR

In the result, appeal of the assessee is partly allowed

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

capital gain be deleted. With respect to Ground No. 2, the Counsel submitted that the learned CIT(A), though correctly holding that the original asset transferred by the assessee was agricultural land and that the assessee was eligible for deduction under section 54B in principle, gravely erred in restricting the deduction to ₹80,62,820/- instead of allowing the full

SHRI NAGIN A VAGHELA,VADODARA vs. THE DCIT, CENTRAL CIRCLE-3, VADODARA

In the result, the appeal of the assessee is dismissed for A

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyali.T(Ss).A. Nos.449/Ahd/2019 & 44/Ahd/2020 (A.Ys.: 2011-12 & 2012-13) Deputy Commissioner Of Income Vs. Shri Nagin A. Vaghela, Tax, 11, Purva Bunglow, Nr. Central Circle-3, Manglam Duple, Sama, Vadodara Vadodara [Pan No.Aakpw5302R] (Appellant) .. (Respondent)

capital gains was offered to tax in the return or whether it was properly accounted for. More crucially, since A.Y. 2011-12 was an unabated year for the purposes of section 153A proceedings, the AO could not have made any additions unless incriminating documents were found during the search. The assessment record does not mention any such incriminating material that

SHRI NAGIN A VAGHELA,VADODARA vs. THE ACIT, CENTRAL CIRCLE-3, VADODARA

In the result, the appeal of the assessee is dismissed for A

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyali.T(Ss).A. Nos.449/Ahd/2019 & 44/Ahd/2020 (A.Ys.: 2011-12 & 2012-13) Deputy Commissioner Of Income Vs. Shri Nagin A. Vaghela, Tax, 11, Purva Bunglow, Nr. Central Circle-3, Manglam Duple, Sama, Vadodara Vadodara [Pan No.Aakpw5302R] (Appellant) .. (Respondent)

capital gains was offered to tax in the return or whether it was properly accounted for. More crucially, since A.Y. 2011-12 was an unabated year for the purposes of section 153A proceedings, the AO could not have made any additions unless incriminating documents were found during the search. The assessment record does not mention any such incriminating material that

CHANDULAL JASHBHAI PATEL (DECEASED) THROUGH LEGAL HEIR RUPESHKUMAR CHANDUBHAI PATEL,ANAND vs. THE INCOME TAX OFFICER, WARD-2, ANAND

In the result, the appeal of the assessee is partly allowed for statistical purposes

Bench: Dr. Brr Kumar & Ms. Suchitra Kamble

capital Gain. 5. The learned Commissioner of Income Tax (Appeals), NFAC, Delhi has erred in confirming the addition of Rs.2,65,00,000/- made by the Assessing Officer for the alleged sale consideration of immovable property holding that the same has been sold by the appellant without considering the fact that the property in question was held by the Partnership

DCIT, CENTRAL CIRCLE 1(1) AHMEDABAD, AHMEDABAD vs. NAVRATNA ORGANISERS AND DEVELOPERS PRIVATE LIMITED, AHMEDABAD

In the result the appeal filed by the Revenue is hereby dismissed

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

section 143(3) r.w.s. 254 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) relating to the Assessment Year 2007-08. Cross Objection is filed by the assessee as against the above Revenue appeal. 2. Brief facts of the case is that assessee engaged in the business of development of various projects from which it earned development