GUJARAT FLUOROCHEMEICALS LTD,,BARODA vs. THE DY.CIT.,CIRCLE-1(1)(1),, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

gain”, then disallowance out of professional fees deserves to be confirmed. Therefore, we have rejected the ground of appeal bearing no.2 in ITA No.1380/Ahd/2009 raised by the assessee. As far as disallowance out of interest expenditure is concerned, the ld.CIT(A) has deleted this disallowance. We find that gross investment by the assessee in the Asstt.Year

THA ADDL. CIT, RANGE-1,, BARODA vs. M/S. GUJARAT FLUROCHEMICALS LIMITED.,, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

gain”, then disallowance out of professional fees deserves to be confirmed. Therefore, we have rejected the ground of appeal bearing no.2 in ITA No.1380/Ahd/2009 raised by the assessee. As far as disallowance out of interest expenditure is concerned, the ld.CIT(A) has deleted this disallowance. We find that gross investment by the assessee in the Asstt.Year

GUJARAT FLUROCHEMICALS LIMITED,,BARODA vs. THE DY.CIT, CIRCLE-1(1),, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

gain”, then disallowance out of professional fees deserves to be confirmed. Therefore, we have rejected the ground of appeal bearing no.2 in ITA No.1380/Ahd/2009 raised by the assessee. As far as disallowance out of interest expenditure is concerned, the ld.CIT(A) has deleted this disallowance. We find that gross investment by the assessee in the Asstt.Year

THE ADDL.CIT, RANGE-1, BARODA vs. GUJARAT FLUOROCHEMEICALS LTD, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

gain”, then disallowance out of professional fees deserves to be confirmed. Therefore, we have rejected the ground of appeal bearing no.2 in ITA No.1380/Ahd/2009 raised by the assessee. As far as disallowance out of interest expenditure is concerned, the ld.CIT(A) has deleted this disallowance. We find that gross investment by the assessee in the Asstt.Year

GUJARAT FLUROCHEMICALS LTD.,,BARODA vs. THE DY.CIT.,CIRCLE-1(1),, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

gain”, then disallowance out of professional fees deserves to be confirmed. Therefore, we have rejected the ground of appeal bearing no.2 in ITA No.1380/Ahd/2009 raised by the assessee. As far as disallowance out of interest expenditure is concerned, the ld.CIT(A) has deleted this disallowance. We find that gross investment by the assessee in the Asstt.Year

SHRI JIGNESH JAYSUKHLAL GHIYA,VADODARA vs. THE DCIT CIRLCE-4(2), VADODARA

In the result, the appeal filed by the Assessee is allowed

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

section 54F of the Act, further erred in making contrary/confusing statements with respect to allowability of exemption directing Id AO to allow deduction in vague manner. 1.2. Your appellant prays that the Order be treated as Bad in Law. 2.00 Denial of exemption u/s 54F of the Income Tax Act, 1961. 2.01 On the facts and circumstances of your appellant

GUJARAT FLUROCHEMICALS LIMITED.,,VADODARA vs. THE ACIT, CIRCLE-1(1)(1),, VADODARA

In the result, both appeals of the assessee are partly allowed

Bench: Shri Rajpal Yadav & Shri Amarjit Singhआयकर अपील सं./ Ita No.805/Ahd/2017 "नधा"रण वष"/Asstt. Year: 2012-2013 & Asst.Year : 2013-2014

234 it has filed a submission claiming deduction. It also revised return of income on 31.3.2015 in the assessment year ITA No.805 and 2744/Ahd/2017 2013-14. Similarly, in the assessment year 2012-13, it has enhanced its claim by way of a letter pointing out that the rate for determining the valuation of power generated by it for the purpose

GUJARAT FLUOROCHEMICALS LIMITED,,VADODARA vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, VADODARA

In the result, both appeals of the assessee are partly allowed

Bench: Shri Rajpal Yadav & Shri Amarjit Singhआयकर अपील सं./ Ita No.805/Ahd/2017 "नधा"रण वष"/Asstt. Year: 2012-2013 & Asst.Year : 2013-2014

234 it has filed a submission claiming deduction. It also revised return of income on 31.3.2015 in the assessment year ITA No.805 and 2744/Ahd/2017 2013-14. Similarly, in the assessment year 2012-13, it has enhanced its claim by way of a letter pointing out that the rate for determining the valuation of power generated by it for the purpose

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

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

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

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

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

M/S. MID VALLEY HEALTH CARE SERVICES PVT. LTD.,,AHMEDABAD vs. THE ASST. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, AHMEDABAD

In the result, the appeal of the assesseeis partly allowed

Bench: Shri Sudhanshu Srivastava&Shri Amarjit Singhआयकर अपील सं./I.T.A. Nos. 2524 & 2525/Ahd/2017 ("नधा"रण वष" / Assessment Years:2013-14 & 2014-15) Mid Valley Health Care Acit बनाम/ Cricle- 2(1)(2), Services Pvt. Ltd. Vs. Ahmedabad 51, 5Th Floor, New York Tower, S.G. Road, Thaltej, Ahmedabad "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aae Cm7 777 K .. (अपीलाथ"/Appellant) (""यथ" / Respondent)

section 48 of the Act was not admitted by Hon'ble Bombay High Court Hence the decision of Pune Tribunal had attained finality. Respectfully following the said decision, we hold that the PMS A.Ys. 2013-14 &2014-15 fees paid by the assessee in the sum of Rs. 18,93,788/- is eligible for deduction while computing Short Term Capital