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

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

capital gains. However, as stated, computation under section 45(4) read with section 48 would arise only if the aforestated

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

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

capital gains. However, as stated, computation under section 45(4) read with section 48 would arise only if the aforestated

DEPUTY COMMISSIONER OF INCOME -TAX, CENTRAL CIRCLE-2(1), AHMEDABAD vs. M/S. CLARIS LIFESCIENCES LIMITED, AHMEDABAD

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकरअपीलसं./Ita No. 295/Ahd/2022 धििाधरणवरध/Asstt. Year: 2018-2019 The D.C.I.T, M/S Claris Lifesciences Limited, Central Circle-2(1), Vs. Claris Corporate Hq, Ahmedabad. Near Parimal Rly. Crossing, Ellisbridge, Ahmedabad-380006. Pan: Aaacc6366Q

48 and 49 or under section 50. The contention of the revenue that by amendment to section 50 the long-term capital asset has been converted into to short-term capital asset is also without any merit. As stated hereinabove, the legal fiction created by the statute is to deem the capital gain

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

capital gains under section 48 of the Act. Hence, there was no scope of interpreting Explanation (iii) of section 48

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

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

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

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

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

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

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

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

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

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

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

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

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

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

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

Section 2 of the Income-tax Act, 1961 ('Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

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.

capital gain. We have upheld this finding of the ld.CIT(A) while rejecting the ground of appeal taken by the Revenue in the above discussion. Therefore, we are required to adjudicate what amount ought to be disallowed under section 14A of the Act. A perusal of the record would indicate that the ld.AO has made disallowance under two heads

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.

capital gain. We have upheld this finding of the ld.CIT(A) while rejecting the ground of appeal taken by the Revenue in the above discussion. Therefore, we are required to adjudicate what amount ought to be disallowed under section 14A of the Act. A perusal of the record would indicate that the ld.AO has made disallowance under two heads

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.

capital gain. We have upheld this finding of the ld.CIT(A) while rejecting the ground of appeal taken by the Revenue in the above discussion. Therefore, we are required to adjudicate what amount ought to be disallowed under section 14A of the Act. A perusal of the record would indicate that the ld.AO has made disallowance under two heads

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.

capital gain. We have upheld this finding of the ld.CIT(A) while rejecting the ground of appeal taken by the Revenue in the above discussion. Therefore, we are required to adjudicate what amount ought to be disallowed under section 14A of the Act. A perusal of the record would indicate that the ld.AO has made disallowance under two heads

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.

capital gain. We have upheld this finding of the ld.CIT(A) while rejecting the ground of appeal taken by the Revenue in the above discussion. Therefore, we are required to adjudicate what amount ought to be disallowed under section 14A of the Act. A perusal of the record would indicate that the ld.AO has made disallowance under two heads

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.

capital gain. We have upheld this finding of the ld.CIT(A) while rejecting the ground of appeal taken by the Revenue in the above discussion. Therefore, we are required to adjudicate what amount ought to be disallowed under section 14A of the Act. A perusal of the record would indicate that the ld.AO has made disallowance under two heads