THE DCIT, CIRCLE-1(3), AHMEDABAD vs. EDELWEISS BROKING LTD., AHMEDABAD

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

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

Capital Gain as per provision of Section 48 of the I. T. Act, 1961 for indexing the cost from F.Y. 2005-06 when the BSE shares were allotted and first held by the assessee.” 3. The first issue raised by the Revenue is that Learned CIT(A) erred in deleting the addition made by the AO for Rs.79/- on account

M/S. EDELWEISS BROKING LTD. ( AMALGAMATING COMPANY EDELWEISS FINANCIAL ADVISORS LTD.),AHMEDABAD vs. THE JT. CIT, RANGE-3,, AHMEDABAD

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

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

Capital Gain as per provision of Section 48 of the I. T. Act, 1961 for indexing the cost from F.Y. 2005-06 when the BSE shares were allotted and first held by the assessee.” 3. The first issue raised by the Revenue is that Learned CIT(A) erred in deleting the addition made by the AO for Rs.79/- on account

THE DCIT, CIRCLE-1(1),, BARODA vs. GUJARAT FLUROCHEMICALS 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.

2. We would like to take note of details of orders of the Revenue authorities, which are under challenge in order to give logical end to the proceedings before us. They are as under: Sr. No. ITA No.Asst.Year Appeal by Dt. of CIT(A)’s AO’s order order 1-2 1379 and Assessee 12.03.2009 31.12.2017 1380/Ahd/2009 12.03.2009 24.12.2008 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.

2. We would like to take note of details of orders of the Revenue authorities, which are under challenge in order to give logical end to the proceedings before us. They are as under: Sr. No. ITA No.Asst.Year Appeal by Dt. of CIT(A)’s AO’s order order 1-2 1379 and Assessee 12.03.2009 31.12.2017 1380/Ahd/2009 12.03.2009 24.12.2008 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.

2. We would like to take note of details of orders of the Revenue authorities, which are under challenge in order to give logical end to the proceedings before us. They are as under: Sr. No. ITA No.Asst.Year Appeal by Dt. of CIT(A)’s AO’s order order 1-2 1379 and Assessee 12.03.2009 31.12.2017 1380/Ahd/2009 12.03.2009 24.12.2008 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.

2. We would like to take note of details of orders of the Revenue authorities, which are under challenge in order to give logical end to the proceedings before us. They are as under: Sr. No. ITA No.Asst.Year Appeal by Dt. of CIT(A)’s AO’s order order 1-2 1379 and Assessee 12.03.2009 31.12.2017 1380/Ahd/2009 12.03.2009 24.12.2008 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.

2. We would like to take note of details of orders of the Revenue authorities, which are under challenge in order to give logical end to the proceedings before us. They are as under: Sr. No. ITA No.Asst.Year Appeal by Dt. of CIT(A)’s AO’s order order 1-2 1379 and Assessee 12.03.2009 31.12.2017 1380/Ahd/2009 12.03.2009 24.12.2008 Asstt.Year

GUJARAT FLUROCHEMICALS LIMITED,,BARODA vs. THE ADDL. CIT, RANGE-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.

2. We would like to take note of details of orders of the Revenue authorities, which are under challenge in order to give logical end to the proceedings before us. They are as under: Sr. No. ITA No.Asst.Year Appeal by Dt. of CIT(A)’s AO’s order order 1-2 1379 and Assessee 12.03.2009 31.12.2017 1380/Ahd/2009 12.03.2009 24.12.2008 Asstt.Year

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.

2. We would like to take note of details of orders of the Revenue authorities, which are under challenge in order to give logical end to the proceedings before us. They are as under: Sr. No. ITA No.Asst.Year Appeal by Dt. of CIT(A)’s AO’s order order 1-2 1379 and Assessee 12.03.2009 31.12.2017 1380/Ahd/2009 12.03.2009 24.12.2008 Asstt.Year

DIPAL SURESHBHAI PATEL,AHMEDABAD vs. ITO, WARD-3(3)(1),, AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed& Ms. Madhumita Roy

256 (Mumbai – Trib.) where the same issue has cropped up and it was observed that when the unutilized portion of capital gain on sale of capital asset is required to be deposited before the date of furnishing of return of tax under Section 139, in such a situation Section 139 cannot be meant only Section 139 but it means

DCIT CIRCLE-3(3), AHMEDABAD vs. SHRI ALPESHKUMAR C.PATEL, AHMEDABAD

In the result, the appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed & Shri T.R. Senthil Kumarआयकर अपील सं./Ita No. 1908/Ahd/2018 िनधा"रण वष"/Asstt. Year: 2011-2012 Alpeshkumar C. Patel, A.C.I.T., 503, Milestone Building, Vs. Circle-3(3), Drive In Road, Ahmedabad. Thaltej, Ahmedabad-380052. Pan: Aeapp9489G

capital gain in the event the assessee makes the sale of its bungalow in dispute. It is because the revenue has not doubted on the incurrence of such expenses while framing the assessment. Besides the above, all the necessary details of the construction expenses were made available to the authorities below along with the addresses and the payments were made

SHRI KETAN RAMNIKLAL MEHTA,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-7(2),, AHMEDABAD

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

Bench: Shri P.M. Jagtap, Vice- & Shri T.R. Senthil Kumarassessment Years : 2010-11 Shri Ketan Ramniklal Mehta, Income-Tax Officer, 10, Nishant Bungalows, Part-1, Vs Ward 7(2), Nr. Shyamal Char Rasta, Satellite Ahmedabad Road, Ahmedabad – 380015 Pan : Aevpm 2649 Q अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri D.K. Parikh, Ar Revenue By : Shri V.K. Singh, Sr Dr सुनवाई क" तार"ख/Date Of Hearing : 02/03/2022 घोषणा क" तार"ख /Date Of Pronouncement: 25/03/2022 आदेश/O R D E R Per P.M. Jagtap, Vice-:

256/- 4. During the course of assessment proceedings, the assessee was called upon by the Assessing Officer to furnish the relevant details in respect of all the share transactions. Although the assessee furnished the said details in piecemeal manner at different stages, the full details as required by the Assessing Officer were not furnished by him. From the perusal

ABDULVAHED A. SHEIKH, LEGAL HEIROF LATE SMT. SARIFABEN BIKHUBHAI SHEK,,AHMEDABAD vs. THE ITO, WARD-7(2)(5),, AHMEDABAD

The appeal of the assessee is allowed in above terms

Capital Gain [LTCG] of Rs. 32,63,644 in as much as the fair market value as on 01-04-1981 should have been adopted as per Registered Valuer Report. 2.1 The appellant says and submits that the AR visited CIT(A) three to four times explained the case. However, the same is not taken into consideration and the order

SHRI RAKESH AMBALAL PATEL,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-3(3)(9),, AHMEDABAD

In the result, appeal of the assessee is dismissed

Bench: Shri Pradip Kumar Kedia & Smt. Madhumita Royआयकर अपील सं./I.T.A. No. 465/Ahd/2016 ("नधा"रण वष" / Assessment Year : 2010-11)

256 ITR 1 (Del)(FB). It was thus contended that having regard to the schematic interpretation to the expression ‘reason to believe’ used in Section 147 of the Act, the action of the AO in assuming jurisdiction under s.147 of the Act is arbitrary. It was asserted that having regard to the query raised in the context of capital gains

DR. DILIP S. DOCTOR,,VADODARA vs. THE DY. CIT, CENTRAL CIRCLE-2,, VADODARA

In the result, the appeal of the assessee is dismissed

section 143(3) of the I.T. Act. 2. The leaned commissioner of income tax (appeals) has erred in law and on facts in confirming the additions of Rs. 11,641/- on account of interest income from banks as per the arbitrary profit & loss A/c prepared by the Assessing Officer 3. The learned commissioner of income tax (appeals) has erred

K.P. WOVEN PVT. LTD.,,AHMEDABAD vs. THE ITO, WARD-2(1)(2),, AHMEDABAD

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

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No.169/Ahd/2018 िनधा"रण वष"/Asstt. Year: 2014-2015 K.P. Woven Pvt. Ltd., I.T.O., 13-B, Navbharat Society, Vs. Ward-2(1)(2) Usmanpura, Ahmedabad. Ahmedabad-380013. Pan: Aaeck6307M

gain made on sale- of assets or addition of capital only. There cannot be any isolated increase in working capital without the- corresponding, increase in liability either long term or short term, in fact, in the case under consideration, the assessee company presented a fabricated and a masked picture under the permitted valuation rule but providing a hypothetical figure, which

N.K. INDUSTRIES LTD.,AHMEDABAD vs. THE DY.CIT, CIRCLE-3(1)(1), AHMEDABAD

In the result, the appeal of the assessee on this ground is allowed

Bench: Dr. B.R.R. Kumarms. Suchitra Kamble

gains of the business or profession, and accordingly chargeable to income-tax as the income of that previous year. Explanation 1. - For the purposes of this sub-section, the expression "loss or expenditure or some benefit in respect of any such trading liability by way of remission or cessation thereof" shall include the remission or cessation of any liability

THE DY.CIT, CIRCLE-3(1)(1)., AHMEDABAD vs. N.K. INDUSTRIES LTD., AHMEDABAD

In the result, the appeal of the assessee on this ground is allowed

Bench: Dr. B.R.R. Kumarms. Suchitra Kamble

gains of the business or profession, and accordingly chargeable to income-tax as the income of that previous year. Explanation 1. - For the purposes of this sub-section, the expression "loss or expenditure or some benefit in respect of any such trading liability by way of remission or cessation thereof" shall include the remission or cessation of any liability

N.K. INDUSTRIES LTD.,AHMEDABAD vs. THE DY.CIT, CIRCLE-3(1)(1), AHMEDABAD

In the result, the appeal of the assessee on this ground is allowed

Bench: Dr. B.R.R. Kumarms. Suchitra Kamble

gains of the business or profession, and accordingly chargeable to income-tax as the income of that previous year. Explanation 1. - For the purposes of this sub-section, the expression "loss or expenditure or some benefit in respect of any such trading liability by way of remission or cessation thereof" shall include the remission or cessation of any liability