M/S. VISHAL ENGINEERS & GALVANIZERS,,AHMEDABAD vs. THE DY.CIT, CIRCLE-6,, AHMEDABAD

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

Section 45(4) of the Act was brought to tax against the assessee to the tune of Rs.25,46,06,987/- as LTCG and capital gain out of the transfer of part of land has been treated to be STCG which was worked out at Rs.3,26

THE ACIT, CIRCLE-3(2),, AHMEDABAD vs. VISHAL ENGINEERING & GALVANIZERS,, AHMEDABAD

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

Section 45(4) of the Act was brought to tax against the assessee to the tune of Rs.25,46,06,987/- as LTCG and capital gain out of the transfer of part of land has been treated to be STCG which was worked out at Rs.3,26

THE DCIT, CIRCLE-6,, AHMEDABAD vs. VISHAL ENGINEERING & GALVANIZERS,, AHMEDABAD

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

Section 45(4) of the Act was brought to tax against the assessee to the tune of Rs.25,46,06,987/- as LTCG and capital gain out of the transfer of part of land has been treated to be STCG which was worked out at Rs.3,26

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

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

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 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

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 ACIT, CIRCLE-3,, AHMEDABAD vs. KIFS SECURITIES LIMITED,, 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 ACIT,(OSD)CIRCLE-8,, AHMEDABAD vs. TORRENT POWER LTD.,, AHMEDABAD

In the result, the appeal of the Revenue and the Cross-objection of the assessee, both are dismissed

Bench: Shri Sandeep Gosain & Shri Amarjit Singh

26 taxmann.com 51 (Guj.). ITA No.1668/Ahd/2012(By Revenue) & CO No.178/Ahd/2012 (By Assessee) ACIT (OSD) vs. M/s.Torrent Power Ltd. Asst.Year – 2006-07 10. We have heard the Learned Representatives for both the parties. We have also perused the material placed on record, judgements cited by the parties as well as the orders passed by the revenue authorities. Before we decide

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.

26. It is submitted that during the year, the company has earned capital gains from mutual funds, strategic investment and equity shares etc. Bifurcation of such capital gain is as under: (Rs.in crores) Asstt. Gain from Gain/Loss from Gain from Total Year Mutual Fund Strategic Equity capital investment shares gain 2005-06 24.32 7.61 2.98 19.69 (including LTG Rs.10.17

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.

26. It is submitted that during the year, the company has earned capital gains from mutual funds, strategic investment and equity shares etc. Bifurcation of such capital gain is as under: (Rs.in crores) Asstt. Gain from Gain/Loss from Gain from Total Year Mutual Fund Strategic Equity capital investment shares gain 2005-06 24.32 7.61 2.98 19.69 (including LTG Rs.10.17

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.

26. It is submitted that during the year, the company has earned capital gains from mutual funds, strategic investment and equity shares etc. Bifurcation of such capital gain is as under: (Rs.in crores) Asstt. Gain from Gain/Loss from Gain from Total Year Mutual Fund Strategic Equity capital investment shares gain 2005-06 24.32 7.61 2.98 19.69 (including LTG Rs.10.17

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.

26. It is submitted that during the year, the company has earned capital gains from mutual funds, strategic investment and equity shares etc. Bifurcation of such capital gain is as under: (Rs.in crores) Asstt. Gain from Gain/Loss from Gain from Total Year Mutual Fund Strategic Equity capital investment shares gain 2005-06 24.32 7.61 2.98 19.69 (including LTG Rs.10.17

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.

26. It is submitted that during the year, the company has earned capital gains from mutual funds, strategic investment and equity shares etc. Bifurcation of such capital gain is as under: (Rs.in crores) Asstt. Gain from Gain/Loss from Gain from Total Year Mutual Fund Strategic Equity capital investment shares gain 2005-06 24.32 7.61 2.98 19.69 (including LTG Rs.10.17

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.

26. It is submitted that during the year, the company has earned capital gains from mutual funds, strategic investment and equity shares etc. Bifurcation of such capital gain is as under: (Rs.in crores) Asstt. Gain from Gain/Loss from Gain from Total Year Mutual Fund Strategic Equity capital investment shares gain 2005-06 24.32 7.61 2.98 19.69 (including LTG Rs.10.17

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.

26. It is submitted that during the year, the company has earned capital gains from mutual funds, strategic investment and equity shares etc. Bifurcation of such capital gain is as under: (Rs.in crores) Asstt. Gain from Gain/Loss from Gain from Total Year Mutual Fund Strategic Equity capital investment shares gain 2005-06 24.32 7.61 2.98 19.69 (including LTG Rs.10.17