SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

43,840/- Undisclosed capital gain on sale of land Rs.49,00,000/- Undisclosed capital on sale of land 22. With respect to levy of penalty under Section 271AAA with regards to undisclosed capital gain on sale of land amounting to Rs. 1

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

43,840/- Undisclosed capital gain on sale of land Rs.49,00,000/- Undisclosed capital on sale of land 22. With respect to levy of penalty under Section 271AAA with regards to undisclosed capital gain on sale of land amounting to Rs. 1

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

43,840/- Undisclosed capital gain on sale of land Rs.49,00,000/- Undisclosed capital on sale of land 22. With respect to levy of penalty under Section 271AAA with regards to undisclosed capital gain on sale of land amounting to Rs. 1

SHRI ROHITJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

43,840/- Undisclosed capital gain on sale of land Rs.49,00,000/- Undisclosed capital on sale of land 22. With respect to levy of penalty under Section 271AAA with regards to undisclosed capital gain on sale of land amounting to Rs. 1

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

43,840/- Undisclosed capital gain on sale of land Rs.49,00,000/- Undisclosed capital on sale of land 22. With respect to levy of penalty under Section 271AAA with regards to undisclosed capital gain on sale of land amounting to Rs. 1

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

43,840/- Undisclosed capital gain on sale of land Rs.49,00,000/- Undisclosed capital on sale of land 22. With respect to levy of penalty under Section 271AAA with regards to undisclosed capital gain on sale of land amounting to Rs. 1

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

43,840/- Undisclosed capital gain on sale of land Rs.49,00,000/- Undisclosed capital on sale of land 22. With respect to levy of penalty under Section 271AAA with regards to undisclosed capital gain on sale of land amounting to Rs. 1

ACIT, CIRCLE-1(1)(1), AHMEDABAD, VEJALPUR, AHMEDABAD vs. AIA ENGINEERING LIMITED, AHMEDABAD

In the result, the appeal filed by the Revenue is dismissed, whereas the appeal filed by the assessee is allowed

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarआयकर अपील सं / Ita No. 397/Ahd/2024 िनधा"रण वष"/Assessment Year: 2016-17 बनाम Aia Engineering Limited, Dcit Vs. 115, Gvmm Estate, Odhav Road, Circle-1(1)(1), Odhav, Ahmedabad-382415 Ahmedabad Pan : Aabca 2777 J आयकर अपील सं / Ita No. 532/Ahd/2024 िनधा"रणवष"/Assessment Year: 2016-17 बनाम Aia Engineering Limited, Acit, Vs. 115, Gvmm Estate, Odhav Road, Circle-1(1)(1), Odhav, Ahmedabad-382415 Ahmedabad Pan : Aabca 2777 J अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" "" यथ" "" "" यथ" यथ"/ (Respondent) यथ" िनधा"रती की ओर से / Assessee By : Shri Tushar Hemani, Sr. Advocate & Shri Parimalsinh B. Parmar, Ar ""थ" की ओर से / Revenue By : Shri Pratik Sharma, Sr Dr & Shri Sudhendu Das, Cit-Dr तारीख/Date Of Hearing : 09.10.2024 सुनवाई क" क" तारीख सुनवाई सुनवाई सुनवाई क" क" तारीख तारीख घोषणा क" क" तारीख तारीख /Date Of Pronouncement: 21.10.2024 घोषणा घोषणा घोषणा क" क" तारीख तारीख आदेश आदेश/O R D E R आदेश आदेश

gains of business or profession. 43. In sections 28 to 41 and in this section, unless the context otherwise requires — AIA Engineering Ltd - Cross Appeals AY : 2016-17 (1) "actual cost" means the actual cost of the assets to the assessee, reduced by that portion of the cost thereof, if any, as has been met3 directly or indirectly

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

1-12 from short term capital gain of current year These grounds of appeal are allowed” 43. We find that the issue relating to taxability of surplus on shares and securities depends on various facts and circumstances. In the instant case the assessee is itself into the share trading business, broking house, depository services etc. From perusal of the balance

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

1-12 from short term capital gain of current year These grounds of appeal are allowed” 43. We find that the issue relating to taxability of surplus on shares and securities depends on various facts and circumstances. In the instant case the assessee is itself into the share trading business, broking house, depository services etc. From perusal of the balance

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

1-12 from short term capital gain of current year These grounds of appeal are allowed” 43. We find that the issue relating to taxability of surplus on shares and securities depends on various facts and circumstances. In the instant case the assessee is itself into the share trading business, broking house, depository services etc. From perusal of the balance

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

1-12 from short term capital gain of current year These grounds of appeal are allowed” 43. We find that the issue relating to taxability of surplus on shares and securities depends on various facts and circumstances. In the instant case the assessee is itself into the share trading business, broking house, depository services etc. From perusal of the balance

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

1-12 from short term capital gain of current year These grounds of appeal are allowed” 43. We find that the issue relating to taxability of surplus on shares and securities depends on various facts and circumstances. In the instant case the assessee is itself into the share trading business, broking house, depository services etc. From perusal of the balance

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

1-12 from short term capital gain of current year These grounds of appeal are allowed” 43. We find that the issue relating to taxability of surplus on shares and securities depends on various facts and circumstances. In the instant case the assessee is itself into the share trading business, broking house, depository services etc. From perusal of the balance

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

1-12 from short term capital gain of current year These grounds of appeal are allowed” 43. We find that the issue relating to taxability of surplus on shares and securities depends on various facts and circumstances. In the instant case the assessee is itself into the share trading business, broking house, depository services etc. From perusal of the balance

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

1-12 from short term capital gain of current year These grounds of appeal are allowed” 43. We find that the issue relating to taxability of surplus on shares and securities depends on various facts and circumstances. In the instant case the assessee is itself into the share trading business, broking house, depository services etc. From perusal of the balance

M/S. SURZLON GLOBAL SERVICES LTD. ,AHMEDABAD vs. THE PR. CIT-3,, AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita Nos. 67-68/Ahd/2021 िनधा"रण वष"/Asstt. Years: 2016-2017 & 2017-2018 M/S. Suzlon Global Services Limited, Principal Commissioner 5 Suzlon, Shrimali Society, Vs. Of Income-Tax, Near Shree Krishna Centre, Ahmedabad. Nr. Judges Bunglow Cross Road, Ahmedabad-380009. Pan: Aaics1406R

gains of business or profession. 43. In sections 28 to 41 and in this section, unless the context otherwise requires 3— 4(1) “actual cost” means the actual cost 3 of the assets to the assessee, reduced by that portion of the cost thereof, if any, as has been met3 directly or indirectly by any other person or authority: XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-4(1)(2),, AHMEDABAD vs. TROIKAA PHARMACEUTICLAS LIMITED,, AHMEDABAD

In the result, the CO filed by the assessee is dismissed as infructuous

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita Nos. 939 & 1129/Ahd/2019 With C.O.Nos.169 & 181/Ahd/2019 िनधा"रण वष"/Asstt. Years: 2011-2012 & 2012-2013 D.C.I.T., Troikaa Pharmaceuticals Ltd., Circle-4(1)(2), Vs. Commerce House-I, Ahmedabad. Opp. Rajvansh Apartment, Judges Bunglow Road, Ahmedabad-380054. Pan: Aabct0228K

capital expenditure or personal expenditure of the assessee, and (d) expenditure must be laid out or expended wholly and exclusively for the purpose of business or profession. The expression “wholly” employed in section 37 refers to quantification of expenditure while expression “exclusively” refers to the motive, objective and purpose of the expenditure. 14. Thus, if the nature of this expenditure