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 under section 45 of the Act, and distribution of new shares allotted by Sterling as being distributed by the assessee to its shareholders as dividend under section 2

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 under section 45 of the Act, and distribution of new shares allotted by Sterling as being distributed by the assessee to its shareholders as dividend under section 2

SHRI JIGNESH JAYSUKHLAL GHIYA,VADODARA vs. THE DCIT CIRLCE-4(2), VADODARA

In the result, the appeal filed by the Assessee is allowed

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

45 as the income of the previous year, and for the purpose of computing in respect of the new asset any capital gain arising from its transfer within a period of three years of its purchase or construction, as the case may be, the cost shall be nil;" Also, section 54 provides a recourse to the assessee for not purchasing

SHRI NAVINCHANDRA N. PATEL,VADODARA vs. THE ACIT, CIRCLE-1(2), VADODARA

In the result, the appeal of the assessee is allowed

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

section 2(47)(iv) of the Act, if capital asset is converted into stock-in- trade or treated as stock-in-trade by the owner, such conversion or treatment shall be regarded as transfer. Further, as per sec. 45(2) of the Act, the profits or gains

AARK INFOSOFT PRIVATE LIMITED,AHMEDABAD vs. THE ACIT, CIRCLE-1(1)(1), AHMEDABAD

The appeal of the assessee is allowed

Bench: Mrs. Annapurna Gupta & Ms. Suchitra R. Kambleिनधा"रण वष"/Assessment Year: 2017-18 Vs. Aark Infosoft Private Limited, The Acit, 45, Shetrunjay, 2Nd Floor, Above Circle-1(1)(1), Central Bank Of India, Bhattha Ahmedabad Cross Road, Paldi, Ahmedabad Gujarat-380007 Pan : Aahca 9986 H अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" "" यथ" "" "" यथ" यथ"/ (Respondent) यथ" Assessee By : Shri Divyang Shah, Ar Revenue By : Shri Santosh Kumar, Sr. Dr सुनवाई क" तारीख/Date Of Hearing : 08.02.2024 घोषणा क" तारीख /Date Of Pronouncement: 21.02.2024 आदेश आदेश/O R D E R आदेश आदेश Per Annapurna Gupta: Present Appeal Has Been Filed By The Assessee Against Order Of The Commissioner Of Income-Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi [Hereinafter Referred To As "Cit(A)" For Short] Dated 27.07.2023 Passed Under Section 250 Of The Income-Tax Act, 1961 [Hereinafter Referred To As "The Act" For Short], For The Assessment Year (Ay) 2017-18. 2. The Grounds Raised By The Assessee Are As Under:- “1. Whether On The Facts & Circumstances Of The Case & In Law, Ld. Cit(A) Has Erred In Issuing A Notice U/S 143(2) Of The Act? 2. Whether On The Facts & In Circumstances Of The Case & In Law, Ld. Cit(A) Has Erred In Making Disallowance Of Employees' Contribution To Pf & Esic Of Rs.5,51,657/- U/S 36(1) (Va) Of The Act?

45, Shetrunjay, 2nd Floor, Above Circle-1(1)(1), Central Bank of India, Bhattha Ahmedabad Cross Road, Paldi, Ahmedabad Gujarat-380007 PAN : AAHCA 9986 H अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" "" यथ" "" "" यथ" यथ"/ (Respondent) यथ" Assessee by : Shri Divyang Shah, AR Revenue by : Shri Santosh Kumar, Sr. DR सुनवाई क" तारीख/Date of Hearing : 08.02.2024 घोषणा क" तारीख /Date

SHRI AJAY REGHUBHAI BHARWAD,VADODARA vs. THE ITO, WARD-2(1), VADODARA

In the result, the appeals filed by the Assessees are dismissed

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

2. Such capital assets are conveyed by sale deed effecting transfer of capital asset 3. The capital asset was sold for Rs.44,82,000/- (for a consideration). 4. There is profit or gain on the said transaction. In the light of the above facts, there is no difficulty in computing Capital gain as per sec.45

AJAY REGHUBHAI BHARWAD,VADODARA vs. THE ITO, WARD-1(2)(1), VADODARA

In the result, the appeals filed by the Assessees are dismissed

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

2. Such capital assets are conveyed by sale deed effecting transfer of capital asset 3. The capital asset was sold for Rs.44,82,000/- (for a consideration). 4. There is profit or gain on the said transaction. In the light of the above facts, there is no difficulty in computing Capital gain as per sec.45

SHRI PIYUSH M DOBARIYA,VADODARA vs. THE ITO, WARD-5(4), VADODARA

In the result, the appeals filed by the Assessees are dismissed

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

2. Such capital assets are conveyed by sale deed effecting transfer of capital asset 3. The capital asset was sold for Rs.44,82,000/- (for a consideration). 4. There is profit or gain on the said transaction. In the light of the above facts, there is no difficulty in computing Capital gain as per sec.45

SHRI GIRISHBHAI VADILAL SHAH,,AHMEDABAD vs. THE DCIT, CIRCLE-4(1)(2),, AHMEDABAD

In the result, appeal preferred by the assessee in ITA No

Bench: Ms. Suchitra Raghunath Kamble, Judical Member & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. Nos. 330, 331 & 332/Ahd/2020 (िनधा"रण वष" िनधा"रण वष" िनधा"रण वष" / Assessment Years : 2014-15, 2015-16 & 2016-17) िनधा"रण वष" Girishbhai Vadilal Shah Dcit बनाम बनाम/ बनाम बनाम 139, V R Shah Smruti Circle – 4(1)(2), Vs. Shikshan Mandir, Nr. Ahmedabad Dharnidhar Derasar, Vasna, Ahmedabad, Gujarat, 380007 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Abjps3102P (Appellant) .. (Respondent) Shri Jaimin Shah, Ar अपीलाथ" ओर से /Appellant By : ""यथ" क" ओर से/Respondent By : Ms. Saumya Pandey Jain, Sr. Dr Date Of Hearing 26/06/2024 Date Of Pronouncement 15/07/2024 O R D E R Per Shri Narendra Prasad Sinha, Am: These Three Appeals Are Filed By The Assessee Against The Order Of The Commissioner Of Income Tax (Appeals)-8, Ahmedabad, (In Short The ‘Cit(A)’), (In Short ‘The Cit(A)’) All Dated 16.03.2020 For The Assessment Year 2014-15, 2015-16 & 2016-17. As The Issues Involved In The Three Appeals Are Common, They Were Heard Together & Are Being Disposed Vide This Common Order.

gains of business or profession". (emphasis supplied) From the bare reading of this provision, it is evident that Section 58 of the Act has an overriding effect on the deduction as admissible under Section 57 of the Act. Therefore, the provision of Section 40A of the Act has to be mandatorily applied while ITA Nos. 330, 331 & 332/Ahd/2020 [Shri Girishbhai

SHRI GIRISHBHAI VADILAL SHAH,,AHMEDABAD vs. THE DCIT, CIRCLE-4(1)(2),, AHMEDABAD

In the result, appeal preferred by the assessee in ITA No

Bench: Ms. Suchitra Raghunath Kamble, Judical Member & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. Nos. 330, 331 & 332/Ahd/2020 (िनधा"रण वष" िनधा"रण वष" िनधा"रण वष" / Assessment Years : 2014-15, 2015-16 & 2016-17) िनधा"रण वष" Girishbhai Vadilal Shah Dcit बनाम बनाम/ बनाम बनाम 139, V R Shah Smruti Circle – 4(1)(2), Vs. Shikshan Mandir, Nr. Ahmedabad Dharnidhar Derasar, Vasna, Ahmedabad, Gujarat, 380007 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Abjps3102P (Appellant) .. (Respondent) Shri Jaimin Shah, Ar अपीलाथ" ओर से /Appellant By : ""यथ" क" ओर से/Respondent By : Ms. Saumya Pandey Jain, Sr. Dr Date Of Hearing 26/06/2024 Date Of Pronouncement 15/07/2024 O R D E R Per Shri Narendra Prasad Sinha, Am: These Three Appeals Are Filed By The Assessee Against The Order Of The Commissioner Of Income Tax (Appeals)-8, Ahmedabad, (In Short The ‘Cit(A)’), (In Short ‘The Cit(A)’) All Dated 16.03.2020 For The Assessment Year 2014-15, 2015-16 & 2016-17. As The Issues Involved In The Three Appeals Are Common, They Were Heard Together & Are Being Disposed Vide This Common Order.

gains of business or profession". (emphasis supplied) From the bare reading of this provision, it is evident that Section 58 of the Act has an overriding effect on the deduction as admissible under Section 57 of the Act. Therefore, the provision of Section 40A of the Act has to be mandatorily applied while ITA Nos. 330, 331 & 332/Ahd/2020 [Shri Girishbhai

SHRI GIRISHBHAI VADILAL SHAH,,AHMEDABAD vs. THE DCIT, CIRCLE-4(1)(2),, AHMEDABAD

In the result, appeal preferred by the assessee in ITA No

Bench: Ms. Suchitra Raghunath Kamble, Judical Member & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. Nos. 330, 331 & 332/Ahd/2020 (िनधा"रण वष" िनधा"रण वष" िनधा"रण वष" / Assessment Years : 2014-15, 2015-16 & 2016-17) िनधा"रण वष" Girishbhai Vadilal Shah Dcit बनाम बनाम/ बनाम बनाम 139, V R Shah Smruti Circle – 4(1)(2), Vs. Shikshan Mandir, Nr. Ahmedabad Dharnidhar Derasar, Vasna, Ahmedabad, Gujarat, 380007 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Abjps3102P (Appellant) .. (Respondent) Shri Jaimin Shah, Ar अपीलाथ" ओर से /Appellant By : ""यथ" क" ओर से/Respondent By : Ms. Saumya Pandey Jain, Sr. Dr Date Of Hearing 26/06/2024 Date Of Pronouncement 15/07/2024 O R D E R Per Shri Narendra Prasad Sinha, Am: These Three Appeals Are Filed By The Assessee Against The Order Of The Commissioner Of Income Tax (Appeals)-8, Ahmedabad, (In Short The ‘Cit(A)’), (In Short ‘The Cit(A)’) All Dated 16.03.2020 For The Assessment Year 2014-15, 2015-16 & 2016-17. As The Issues Involved In The Three Appeals Are Common, They Were Heard Together & Are Being Disposed Vide This Common Order.

gains of business or profession". (emphasis supplied) From the bare reading of this provision, it is evident that Section 58 of the Act has an overriding effect on the deduction as admissible under Section 57 of the Act. Therefore, the provision of Section 40A of the Act has to be mandatorily applied while ITA Nos. 330, 331 & 332/Ahd/2020 [Shri Girishbhai

BHOGILAL BAHILALBHAI PATEL,VADODARA vs. THE PR. CIT -1, VADOADAR

In the result, the appeal of the assessee is dismissed

Bench: Smt.Annapurna Gupta & Shri Siddhartha Nautiyalassessment Year : 2015-16 Bhogilal Bhailalbhai Patel Vs. The Pr.Cit-1 475/2 Sagar Faliya Vadodara. At & Post Bhayali Vadodara 391 410. Pan : Bkkpp 3136 R

section 45; and for the purpose of computing in respect of the new asset any capital gain arising from its transfer within a period of three years of its purchase, the cost shall be reduced, by the amount of the capital gain. (2

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

45 and 48 necessarily requires substitution of cost with indexed cost (iii) there is no express bar in section 115JB excluding indexation (iv) denying indexation leads to taxation of unreal income, contrary to the real income theory recognised by the Supreme Court in CIT v. Shoorji Vallabhdas & Co. (1962) 46 ITR 144 (SC); and (v) specific provisions governing capital gains

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

45 and 48 necessarily requires substitution of cost with indexed cost (iii) there is no express bar in section 115JB excluding indexation (iv) denying indexation leads to taxation of unreal income, contrary to the real income theory recognised by the Supreme Court in CIT v. Shoorji Vallabhdas & Co. (1962) 46 ITR 144 (SC); and (v) specific provisions governing capital gains

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

45 and 48 necessarily requires substitution of cost with indexed cost (iii) there is no express bar in section 115JB excluding indexation (iv) denying indexation leads to taxation of unreal income, contrary to the real income theory recognised by the Supreme Court in CIT v. Shoorji Vallabhdas & Co. (1962) 46 ITR 144 (SC); and (v) specific provisions governing capital gains

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

45 and 48 necessarily requires substitution of cost with indexed cost (iii) there is no express bar in section 115JB excluding indexation (iv) denying indexation leads to taxation of unreal income, contrary to the real income theory recognised by the Supreme Court in CIT v. Shoorji Vallabhdas & Co. (1962) 46 ITR 144 (SC); and (v) specific provisions governing capital gains

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

45 and 48 necessarily requires substitution of cost with indexed cost (iii) there is no express bar in section 115JB excluding indexation (iv) denying indexation leads to taxation of unreal income, contrary to the real income theory recognised by the Supreme Court in CIT v. Shoorji Vallabhdas & Co. (1962) 46 ITR 144 (SC); and (v) specific provisions governing capital gains

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

45 and 48 necessarily requires substitution of cost with indexed cost (iii) there is no express bar in section 115JB excluding indexation (iv) denying indexation leads to taxation of unreal income, contrary to the real income theory recognised by the Supreme Court in CIT v. Shoorji Vallabhdas & Co. (1962) 46 ITR 144 (SC); and (v) specific provisions governing capital gains

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

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

2. The Ld. CIT (A) has erred on facts and in law in upholding the penalty levied on additions made by the Assessing Officer on account of alleged capital gain of Rs.86,60,942 on account of undisclosed short term capital gain of block no. 76 & 77 which has been added without considering & appreciating the facts that relevant capital gain