DY.COMMISSIONER OF INCOME TAX CIRCLE-1(3),, AHMEDABAD vs. KIFS PVT.LTD.,, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Capital gains disregarding the findings in the assessment order which reveals that the profit was earned from systematic business activity with substantial turnover. 7.The CIT(A) has erred in law and on facts by deleting the addition of Rs.45.59 lacs uls 14A to Book profit despite the fact that the same is required to be added to Book profit

KIFS SECURITIES PVT. LTD.,,AHMEDABAD vs. THE ACIT, CIRCLE-1(3),, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Capital gains disregarding the findings in the assessment order which reveals that the profit was earned from systematic business activity with substantial turnover. 7.The CIT(A) has erred in law and on facts by deleting the addition of Rs.45.59 lacs uls 14A to Book profit despite the fact that the same is required to be added to Book profit

KIFS SECURITIES PVT. LTD.,AHMEDABAD vs. THE ACIT, CIRCLE-1(3), AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Capital gains disregarding the findings in the assessment order which reveals that the profit was earned from systematic business activity with substantial turnover. 7.The CIT(A) has erred in law and on facts by deleting the addition of Rs.45.59 lacs uls 14A to Book profit despite the fact that the same is required to be added to Book profit

KIFS SECURITIES PVT. LTD.,,AHMEDABAD vs. THE ACIT, CIRCLE-1(3), AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Capital gains disregarding the findings in the assessment order which reveals that the profit was earned from systematic business activity with substantial turnover. 7.The CIT(A) has erred in law and on facts by deleting the addition of Rs.45.59 lacs uls 14A to Book profit despite the fact that the same is required to be added to Book profit

THE DY. CIT., CIRCLE-3,, AHMEDABAD vs. KHANDWALA INTEGRATED FINANCIAL SERVICES PVT. LTD, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Capital gains disregarding the findings in the assessment order which reveals that the profit was earned from systematic business activity with substantial turnover. 7.The CIT(A) has erred in law and on facts by deleting the addition of Rs.45.59 lacs uls 14A to Book profit despite the fact that the same is required to be added to Book profit

KIFS SECURITIES LTD.,,AHMEDABAD vs. THE JT.CIT, RANGE- 3,, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Capital gains disregarding the findings in the assessment order which reveals that the profit was earned from systematic business activity with substantial turnover. 7.The CIT(A) has erred in law and on facts by deleting the addition of Rs.45.59 lacs uls 14A to Book profit despite the fact that the same is required to be added to Book profit

SHRI ASHISH TANDON, ,VADODARA vs. THE ACIT, CIRCLE-1(1)(2),, VADODARA

In the result, the appeal is dismissed

gain as discussed above. 5.8. But, a perusal of the Asset Purchase Agreement clearly shows that the dominant intention of the purchaser for making payment to the appellant was to prevent him from engaging in any business which could have competed with the business purchased by M/s. Trend Micro from the sellers. Under such circumstances, the decision in the case

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, 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

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

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

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

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

SHREE RAMA MULTI-TECH LTD.,,AHMEDABAD vs. THE ACIT(OSD) CIRCLE-8, AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

23 be profits and gains of business or profession and accordingly chargeable to income- tax as the income of that previous year, whether the business or profession in respect of which the allowance or deduction has been made is in existence in that year or not; or (b) the successor in business has obtained, whether in cash

SHREE RAMA MULTI-TECH LTD.,,AHMEDABAD vs. THE DY.CIT.,CRCLE-8,, AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

23 be profits and gains of business or profession and accordingly chargeable to income- tax as the income of that previous year, whether the business or profession in respect of which the allowance or deduction has been made is in existence in that year or not; or (b) the successor in business has obtained, whether in cash

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

1)(va) of the Act and observed that the assessee shall be entitled to ITA.Nos.1285/Ahd/2017 & 7 others A.Y.2009-10 21 deduction of such amount while computing the income referred to in section 28, if said sum has been credited by the assessee to employees’ account in the relevant fund/(s) on or before due date i.e. date by which

DHOLU CONSTRUCTION & PROJECTS LTD.,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(2),, AHMEDABAD

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Mahavir Prasad & Shri Amarjit Singh)

gains derived were to be computed as if the eligible business was only source of income of the assessee during the year; therefore the, depreciation and proportionate interest and common administration expenses were to be reduced from the income; appellant had reduced only AMC charges of Rs.12,30,966/- while computing the deduction; however, the depreciation

THE DCIT, CIRCLE-1(1)(1), AHMEDABAD vs. ADANI WILMAIR LTD.,, AHMEDABAD

In the result, the CO. of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No. 1761/Ahd/2016 With C.O. No.133/Ahd/2016 "नधा"रण वष"/Asstt. Year: 2011-2012 D.C.I.T., Adani Wilmar Ltd., Circle-1(1)(1), Vs. “Fortune House”, Ahmedabad. Near Adani House Mithakali Cross Roads, Navrangpura, Ahmedabad Pan: Aabca8056G

gains of the business or profession, and accordingly chargeable to income-tax as the income of that previous year. 19.1 A plain reading of the aforesaid provisions reveals that it is applicable with respect to the trading liabilities and not with respect to the trading receivable. Thus the trading receivable shown by the assessee along with the sundry creditors cannot