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. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 On the fact and in the circumstances of the case and in law, the CIT(A) ought to have upheld the order of the Assessing Officer to the extent mentioned above since the assessee has failed to disclose his true

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. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 On the fact and in the circumstances of the case and in law, the CIT(A) ought to have upheld the order of the Assessing Officer to the extent mentioned above since the assessee has failed to disclose his true

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. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 On the fact and in the circumstances of the case and in law, the CIT(A) ought to have upheld the order of the Assessing Officer to the extent mentioned above since the assessee has failed to disclose his true

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. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 On the fact and in the circumstances of the case and in law, the CIT(A) ought to have upheld the order of the Assessing Officer to the extent mentioned above since the assessee has failed to disclose his true

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. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 On the fact and in the circumstances of the case and in law, the CIT(A) ought to have upheld the order of the Assessing Officer to the extent mentioned above since the assessee has failed to disclose his true

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. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 On the fact and in the circumstances of the case and in law, the CIT(A) ought to have upheld the order of the Assessing Officer to the extent mentioned above since the assessee has failed to disclose his true

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. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 On the fact and in the circumstances of the case and in law, the CIT(A) ought to have upheld the order of the Assessing Officer to the extent mentioned above since the assessee has failed to disclose his true

JCIT(OSD), CIR-3(1)(2), AHMEDABAD vs. RECKITT BENCKISER HEALTHCARE (INDIA) LTD, HARYANA

In the result, appeal of the Revenue is dismissed

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

capital gains tax by virtue of various clauses forming a part of Section 47 of the IT Act subjected to the applications of provisions of Section 2(19AA) of the Act. It is also settled position of law that the scheme of demerger once approved by the Hon’ble Jurisdictional High Court, it cannot be re-visited by any statutory

RECKITT BENCKISER HEALTHCARE INDIA PVT. LTD., ( FORMERLY KNOWN AS RECKITT BENCKISER HEALTHCARE INDIA LTD.,),HARYANA vs. DCIT, CIRCLE-3(1)(2), AHMEDABAD

In the result, appeal of the Revenue is dismissed

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

capital gains tax by virtue of various clauses forming a part of Section 47 of the IT Act subjected to the applications of provisions of Section 2(19AA) of the Act. It is also settled position of law that the scheme of demerger once approved by the Hon’ble Jurisdictional High Court, it cannot be re-visited by any statutory

HARSHADKUMAR AMRUTLAL PATEL,MEHSANA vs. DCIT, MEHSANA CIRCLE, MEHSANA

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

Bench: Shri Pradip Kumar Kedia & Smt. Madhumita Royआयकर अपील सं./I.T.A. No. 361/Ahd/2019 ("नधा"रण वष" / Assessment Year : 2015-16)

28 read with section 2(13). The assessee has disputed the aforesaid action of the revenue on various counts, firstly, it is the case of the assessee that the purchase and sale transaction of impugned land is a transaction of capital nature and consequently, gain

M/S. PRATHAM DEVELOPERS,,VADODARA vs. THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2),, BARODA

In the result, Ground No.4 of the assessee’s appeal is allowed in part

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad, Judicial Memebr आयकर अपील सं./I.T.A. Nos. 742/Ahd/2015, 3078 & 3077/Ahd/2016 With Cross Objection No. 76/Ahd/2015 & 9/Ahd/2017 & I.T.A. No. 3087/Ahd/2016 (In I.T.A. Nos. 742/Ahd/2015, 3078 & 3077/Ahd/2016) & ("नधा"रण वष" / Assessment Years : 2010-11, 2012-13 & 2013-14)

28,78,660 Sun 11-08-2009 Pharmaceutical 25,000 2,10,000 1089.46 2,72,36,500 Sun 08-09-2009 Pharmaceutical 25,000 2,35,000 1089.46 2,72,36,500 Sun 27-10-2009 Pharmaceutical 50,000 2,85,000 1160.27 5,80,13,667 Total 31,40,36,767 3. Necessary declaration of the partners

THE DCIT, CIRCLE-1(2),, BARODA vs. M/S. PRATHAM INVESTMENTS,, BARODA

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad, Judicial Memebr आयकर अपील सं./I.T.A. Nos. 742/Ahd/2015, 3078 & 3077/Ahd/2016 With Cross Objection No. 76/Ahd/2015 & 9/Ahd/2017 & I.T.A. No. 3087/Ahd/2016 (In I.T.A. Nos. 742/Ahd/2015, 3078 & 3077/Ahd/2016) & ("नधा"रण वष" / Assessment Years : 2010-11, 2012-13 & 2013-14)

28,78,660 Sun 11-08-2009 Pharmaceutical 25,000 2,10,000 1089.46 2,72,36,500 Sun 08-09-2009 Pharmaceutical 25,000 2,35,000 1089.46 2,72,36,500 Sun 27-10-2009 Pharmaceutical 50,000 2,85,000 1160.27 5,80,13,667 Total 31,40,36,767 3. Necessary declaration of the partners

SHRI ASHOKKUMAR KHIMRAJ,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-3(1), AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Smt Madhumita Royआयकर अपील सं./I.T.A. No. 1247/Ahd/2015 ("नधा"रण वष" / Assessment Year : 2006-07) Shri Ashokkumar Khimraj Ito, बनाम/ Prop. Ridhi Siddhi Ward – 3(1), Vs. Enterprises, 21, Shitalkunj Ahmedabad. Society, Rambaug Road, Ahmedabad. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Afdpk 6404 N .. (अपीलाथ"/Appellant) (""यथ" / Respondent) Shri Parin Shah, A.R. अपीलाथ" ओर से/ Appellant By : Shri Vinod Talwani, Sr. D.R. ""यथ" क" ओर से/Respondent By:

capital assets and gains are dealt with under section 2(42A) and section 2(42B). 3. Trading asset is dealt with under section 28

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.

28(i), read with section 45 of the Income-tax Act, 1961 - Business income - chargeable as (Share transactions) - Assessment year 2007-08 - Assessee declared income arising from sale of shares as short-term capital gain - Assessee had opening investment of Rs.1 crore in shares - During year under consideration shares worth Rs.4.10 crore had been sold while shares of Rs.4.9 crore

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.

28(i), read with section 45 of the Income-tax Act, 1961 - Business income - chargeable as (Share transactions) - Assessment year 2007-08 - Assessee declared income arising from sale of shares as short-term capital gain - Assessee had opening investment of Rs.1 crore in shares - During year under consideration shares worth Rs.4.10 crore had been sold while shares of Rs.4.9 crore

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.

28(i), read with section 45 of the Income-tax Act, 1961 - Business income - chargeable as (Share transactions) - Assessment year 2007-08 - Assessee declared income arising from sale of shares as short-term capital gain - Assessee had opening investment of Rs.1 crore in shares - During year under consideration shares worth Rs.4.10 crore had been sold while shares of Rs.4.9 crore

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.

28(i), read with section 45 of the Income-tax Act, 1961 - Business income - chargeable as (Share transactions) - Assessment year 2007-08 - Assessee declared income arising from sale of shares as short-term capital gain - Assessee had opening investment of Rs.1 crore in shares - During year under consideration shares worth Rs.4.10 crore had been sold while shares of Rs.4.9 crore

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.

28(i), read with section 45 of the Income-tax Act, 1961 - Business income - chargeable as (Share transactions) - Assessment year 2007-08 - Assessee declared income arising from sale of shares as short-term capital gain - Assessee had opening investment of Rs.1 crore in shares - During year under consideration shares worth Rs.4.10 crore had been sold while shares of Rs.4.9 crore