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

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

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, 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

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

HARSHADKUMAR HARGOVANDAS PATEL,KALOL vs. THE ITO, WARD-4, MEHSANA

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

section 50C\nof the Act were found to be applicable. However, in the original\nassessment, the Assessing Officer computed Short-Term Capital Gain\n(STCG) by taking the sale consideration at ₹50,00,000/- instead of\n₹67,56,900/-, resulting in a total gain of ₹28,53,700/- and the assessee's\none-third share at ₹9,51,234

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

SANJAYKUMAR RAMESHBHAI MALI,VADODARA vs. THE ITO, WARD-1(2)(5), VADODARA

In the result, the appeal of the assessee is allowed

Bench: Dr. Brr Kumar & Ms. Suchitra Kambleassessment Year 2012-13

Capital Gain and final assessment is as income from other sources is illegal and bad in Law and Void. III On Interest u/s. 234 1. The CITA) has erred both in Law and in Fact in upholding charging of Interest us 234A of Rs. 36,366 and u/s 234B of Rs. 18,874/- which is not chargeable both on point

DEVRAJ HARSHADRAI PATEL,AHMEDABAD vs. THE DY.CIT., CIRCLE-3(1)(1), AHMEDABAD

In the result, the appeal of the Department is dismissed

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

234-A ought to have been levied. 6. The appellant craves leave to add, to alter and/or modify any grounds of appeal.” Ground No.1: Addition of Long Term Capital Gain amounting to Rs. 40 lakhs. 3. The brief facts in relation to this ground of appeal are that the assessee had sold immovable property, jointly with other co-owners

LATE SMT. RAMILABEN HARSHADRAI PATEL(THROUGH L/H DEVRAJ H.PATEL),AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-3(3)(2), AHMEDABAD

In the result, the appeal of the Department is dismissed

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

234-A ought to have been levied. 6. The appellant craves leave to add, to alter and/or modify any grounds of appeal.” Ground No.1: Addition of Long Term Capital Gain amounting to Rs. 40 lakhs. 3. The brief facts in relation to this ground of appeal are that the assessee had sold immovable property, jointly with other co-owners

ASSISTANT COMMISSIONER OF INCOME-TAX, AHMEDABAD vs. DEVRAJ HARSHADRAY PATEL, AHMEDABAD

In the result, the appeal of the Department is dismissed

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

234-A ought to have been levied. 6. The appellant craves leave to add, to alter and/or modify any grounds of appeal.” Ground No.1: Addition of Long Term Capital Gain amounting to Rs. 40 lakhs. 3. The brief facts in relation to this ground of appeal are that the assessee had sold immovable property, jointly with other co-owners

THE DY.COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, VADODARA vs. AMBALAL SARABHI ENTERPRISES LIMITED,, VADODARA

In the result, the appeal is allowed for statistical purposes

234 (Mumbai)\nHarshad J.Choksi Vs. CIT, Bombay City- VII [2012] 25 taxmann.com 567\n(Bombay HC)\n57. On the other hand, the DR placed reliance on the orders of lower authorities.\n58. We have considered the contentions of the parties. The CIT(A) concluded that\nthe conditions laid down under Section 36(1)(vii) read with Section 36(2) were

AMBALAL SARABHAI ENTERPRISES LTD.,,BARODA vs. THE DY. COMMISSIONER OF INCOME TAX-1(1)(1),, BARODA

In the result, the appeal is allowed for statistical purposes

234 (Mumbai)\nHarshad J.Choksi Vs. CIT, Bombay City- VII [2012] 25 taxmann.com 567\n(Bombay HC)\n57.\nOn the other hand, the DR placed reliance on the orders of lower authorities.\n58.\nWe have considered the contentions of the parties. The CIT(A) concluded that\nthe conditions laid down under Section 36(1)(vii) read with Section 36(2) were

THE ASST. CIT.,CIRCLE-1(1),, BARODA vs. AMBALAL SARABHAI ENTERPRISES LIMITED,, BARODA

In the result, the appeal is allowed for statistical purposes

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

234 (Mumbai) - Harshad J.Choksi Vs. CIT, Bombay City- VII [2012] 25 taxmann.com 567 (Bombay HC) 57. On the other hand, the DR placed reliance on the orders of lower authorities. 58. We have considered the contentions of the parties. The CIT(A) concluded that the conditions laid down under Section 36(1)(vii) read with Section 36(2) were

AMBALAL SARABHAI ENTERPRISES LIMITED,,BARODA vs. THE DY.CIT.,CIRCLE-1(1),, BARODA

In the result, the appeal is allowed for statistical purposes

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

234 (Mumbai) - Harshad J.Choksi Vs. CIT, Bombay City- VII [2012] 25 taxmann.com 567 (Bombay HC) 57. On the other hand, the DR placed reliance on the orders of lower authorities. 58. We have considered the contentions of the parties. The CIT(A) concluded that the conditions laid down under Section 36(1)(vii) read with Section 36(2) were

NIRMA CREDIT & CAPITAL PVT. LTD.,AHMEDABAD vs. THE ITO, WARD-3(1)(1), AHMEDABAD

In the result, the appeal filed by the assesse is allowed for statistical purpose

Bench: Ld. Cit (A) Was Against Charging Interest U/S 234C Of I.T. Act For Rs.7,93,284/-On Capital Gain Arose On 30-03-2023. Hence Interest U/S 234 C Cannot Be Charged Up To 15-03-2023. 3) Your Appellant Reserves The Right To Add, Alter, Amend All Or Any Of The Above Grounds Of Appeal As May Be Advised From Time To Time.

section 143(1) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) relating to the Assessment Year 2020-21. I.T.A No. 101/Ahd/2025 A.Y. 2023-24 Page No 2 Nirma Credit & Capital Pvt. Ltd. vs. ITO 2. The Grounds of Appeal raised by the assessee are as follows: 1) In law and in facts and circumstances

SHRI MUKESH RASIKLAL SHAH,,AHMEDABAD vs. THE ACIT, CIRCLE-9, NOW CIRCLE-4(2),, AHMEDABAD

In the result, the appeals filed by the assessee are hereby dismissed

Bench: Dr. B.R.R. Kumar, Vice-Shri T.R. Senthil Kumar

234). (c) Although the distinction between capital receipt and revenue receipt is well recognized, the task of assigning it to the appropriate head in borderline cases is not free from difficulty and becomes one of much refinement. Decided cases can provide illustrations and afford indications of the kind of consideration which may relevantly be borne in mind in approaching