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

275 Taxman 550 (Karnataka) / [2020] 428 ITR 52 (Karnataka), wherein the Hon’ble Court held that by virtue of section 115JB(5), all other provisions of the Act— including those governing computation of long-term capital gains under sections 45, 48 and 112 continue to apply unless expressly overridden. The Hon’ble High Court further held that the difference between

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

275 Taxman 550 (Karnataka) / [2020] 428 ITR 52 (Karnataka), wherein the Hon’ble Court held that by virtue of section 115JB(5), all other provisions of the Act— including those governing computation of long-term capital gains under sections 45, 48 and 112 continue to apply unless expressly overridden. The Hon’ble High Court further held that the difference between

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

275 Taxman 550 (Karnataka) / [2020] 428 ITR 52 (Karnataka), wherein the Hon’ble Court held that by virtue of section 115JB(5), all other provisions of the Act— including those governing computation of long-term capital gains under sections 45, 48 and 112 continue to apply unless expressly overridden. The Hon’ble High Court further held that the difference between

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

275 Taxman 550 (Karnataka) / [2020] 428 ITR 52 (Karnataka), wherein the Hon’ble Court held that by virtue of section 115JB(5), all other provisions of the Act— including those governing computation of long-term capital gains under sections 45, 48 and 112 continue to apply unless expressly overridden. The Hon’ble High Court further held that the difference between

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

275 Taxman 550 (Karnataka) / [2020] 428 ITR 52 (Karnataka), wherein the Hon’ble Court held that by virtue of section 115JB(5), all other provisions of the Act— including those governing computation of long-term capital gains under sections 45, 48 and 112 continue to apply unless expressly overridden. The Hon’ble High Court further held that the difference between

THE DY. COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), AHMEDABAD vs. SUZLON ENERGY LTD.,, AHMEDABAD

In the result the Ground Nos

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

275(Delhi); Pr. CIT v. West Bengal Infrastructure Development Finance Corpn Ltd. (2022) 143 taxmann.com 135(cal.); Pr. CIT v. West Bengal Infrastructure Development Finance Corpn. Ltd. (2023) 149 taxmann.com 181 (Cal); Infrastructure Logistics (P.) Ltd. v. Jt. CIT (2022) 141 taxmann.com 24(Panaji-Trib.); Jt. CIT v. Rare Enterprises (2021] 124 taxmann.com 71(Mum-Trib); Kodagu District Co-operative

THE DY. COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), AHMEDABAD vs. SUZLON ENERGY LTD.,, AHMEDABAD

In the result the Ground Nos

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

275(Delhi); Pr. CIT v. West Bengal Infrastructure Development Finance Corpn Ltd. (2022) 143 taxmann.com 135(cal.); Pr. CIT v. West Bengal Infrastructure Development Finance Corpn. Ltd. (2023) 149 taxmann.com 181 (Cal); Infrastructure Logistics (P.) Ltd. v. Jt. CIT (2022) 141 taxmann.com 24(Panaji-Trib.); Jt. CIT v. Rare Enterprises (2021] 124 taxmann.com 71(Mum-Trib); Kodagu District Co-operative

SUZLON ENERGY LTD.,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), AHMEDABAD

In the result the Ground Nos

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

275(Delhi); Pr. CIT v. West Bengal Infrastructure Development Finance Corpn Ltd. (2022) 143 taxmann.com 135(cal.); Pr. CIT v. West Bengal Infrastructure Development Finance Corpn. Ltd. (2023) 149 taxmann.com 181 (Cal); Infrastructure Logistics (P.) Ltd. v. Jt. CIT (2022) 141 taxmann.com 24(Panaji-Trib.); Jt. CIT v. Rare Enterprises (2021] 124 taxmann.com 71(Mum-Trib); Kodagu District Co-operative

SUZLON ENERGY LTD.,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), AHMEDABAD

In the result the Ground Nos

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

275(Delhi); Pr. CIT v. West Bengal Infrastructure Development Finance Corpn Ltd. (2022) 143 taxmann.com 135(cal.); Pr. CIT v. West Bengal Infrastructure Development Finance Corpn. Ltd. (2023) 149 taxmann.com 181 (Cal); Infrastructure Logistics (P.) Ltd. v. Jt. CIT (2022) 141 taxmann.com 24(Panaji-Trib.); Jt. CIT v. Rare Enterprises (2021] 124 taxmann.com 71(Mum-Trib); Kodagu District Co-operative

DCIT CIRCLE-2(1)(1), AHMEDABAD, AHMEDABAD vs. ERIS LIFESCIENCES LIMITED SHIVARTH AMBIT , BODAKDEV AHMEDABAD

Appeal are dismissed

275 Taxman\n550 (Karnataka) / [2020] 428 ITR 52 (Karnataka), wherein the Hon'ble\nCourt held that by virtue of section 115JB(5), all other provisions of the Act—\nincluding those governing computation of long-term capital gains under\nsections 45, 48 and 112 continue to apply unless expressly overridden. The\nHon'ble High Court further held that the difference between

ERIS LIFESCIENCES LIMITED,AHMEDABAD vs. NFAC, DEHI (PRESENT JURISDICTION- THE DY. CIT, CIRCLE-2(1)(1), AHMEDABAD

Appeal are dismissed

275 Taxman\n550 (Karnataka) / [2020] 428 ITR 52 (Karnataka), wherein the Hon'ble\nCourt held that by virtue of section 115JB(5), all other provisions of the Act—\nincluding those governing computation of long-term capital gains under\nsections 45, 48 and 112 continue to apply unless expressly overridden. The\nHon'ble High Court further held that the difference between

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

section (5) of Section 80-IA. In this case, the question that arose for consideration ITA.Nos.1285/Ahd/2017 & 7 others A.Y.2009-10 38 before this Court related to computation of the profits for the purpose of deduction under section 80-E, as it then existed, after setting off the loss incurred by the assessee in the manufacture of alloy steels. Section

MUKESH RAMCHANDRA PATEL,AHMEDABAD vs. DCIT, CENTRAL CIRCLE-1(2),, AHMEDABAD

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

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedassessment Year : 2010-11 Mukesh Ramchandra Patel, Deputy Commissioner Of 1397, Patel-Vas, Mithakhali Gam, Vs Income-Tax, Ellisbridge, Ahmedabad-380015 Circle 1(2), Pan : Aggpp 5391 R Ahmedabad अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri S N Soparkar, Ar Revenue By : Shri Deelip Kumar, Sr Dr सुनवाई क" तार"ख/Date Of Hearing : 08/01/2020 घोषणा क" तार"ख /Date Of Pronouncement: 09/01/2020

275 shall, so far as may be, apply in relation to the penalty referred to in this section. Explanation.—For the purposes of this section,— (a) "undisclosed income" means— (i) any income of the specified previous year represented, either wholly or partly, by any money, bullion, jewellery or other valuable article or thing or any entry in the books

M/S. FAG BEARINGS INDIA LTD.,,BARODA vs. THE ACIT.,CIRCLE-1(2),(TPO), BARODA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

gain from foreign exchange fluctuation of Rs.1,16,29,805/- under clause (baa) of the Explanation below section 80HHC, without appreciating the import of residuary clause of "any other receipt of a similar nature", which excludes all those receipts which do not form part of turnover akin to export turnover in order to avoid distortion in the working of profits

M/S. FAG BEARINGS INDIA LTD.,,BARODA vs. THE CIT-I,, BARODA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

gain from foreign exchange fluctuation of Rs.1,16,29,805/- under clause (baa) of the Explanation below section 80HHC, without appreciating the import of residuary clause of "any other receipt of a similar nature", which excludes all those receipts which do not form part of turnover akin to export turnover in order to avoid distortion in the working of profits

M/S. FAG BEARINGS INDIA LTD.,,BARODA vs. THE DY.CIT.,CIRCLE-1(2),, BARODA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

gain from foreign exchange fluctuation of Rs.1,16,29,805/- under clause (baa) of the Explanation below section 80HHC, without appreciating the import of residuary clause of "any other receipt of a similar nature", which excludes all those receipts which do not form part of turnover akin to export turnover in order to avoid distortion in the working of profits

M/S. FAG BEARINGS INDIA LTD.,BARODA vs. THE ACIT, CIRCLE-1(2),, BARODA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

gain from foreign exchange fluctuation of Rs.1,16,29,805/- under clause (baa) of the Explanation below section 80HHC, without appreciating the import of residuary clause of "any other receipt of a similar nature", which excludes all those receipts which do not form part of turnover akin to export turnover in order to avoid distortion in the working of profits

THE ACIT, CIRCLE-5, AHMEDABAD vs. M/S. NABROS PHARMA LTD., AHMEDABAD

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

gain from foreign exchange fluctuation of Rs.1,16,29,805/- under clause (baa) of the Explanation below section 80HHC, without appreciating the import of residuary clause of "any other receipt of a similar nature", which excludes all those receipts which do not form part of turnover akin to export turnover in order to avoid distortion in the working of profits

THE ACIT, CIRCLE-1(2),, BARODA vs. M/S. FAG BEARINGS INDIA LTD.,, VADODARA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

gain from foreign exchange fluctuation of Rs.1,16,29,805/- under clause (baa) of the Explanation below section 80HHC, without appreciating the import of residuary clause of "any other receipt of a similar nature", which excludes all those receipts which do not form part of turnover akin to export turnover in order to avoid distortion in the working of profits