HAFIZUNNISHA ABDULREHMAN SHAIKH,AHMEDABAD vs. ITO, WARD-1(3)(2), AHMEDABAD

In the result, the appeals of the assessees are allowed for statistical purpose

Bench: Shri Mahavir Prasad & Shri Amarjit Singh) [Through Virtual Court]

section 55 A of the IT Act. 6. The Hon. CIT (A) has erred in law in not considering the various submission and explanation submitted by the appellant from time to time. 7. The order passed by AO, confirmed by CIT (A) is against the principle of natural justice. 8. The appellant craves leave to add, alter or amend

THE DCIT, CIRCLE-6,, AHMEDABAD vs. SHRI RAJNIKANT KANUBHAI PATEL,, AHMEDABAD

In the result, all the appeals of the Revenue are dismissed, and that of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

section 148 on 4.3.2013. The ld.AO has observed that since vendees have accepted payment of on-money in this land transaction in their return of income, therefore, it is to be construed that vendors might have received on-money and capital gain ought to be assessed in their hands of that on-money. He worked out short capital gain

THE ITO, WARD-6(2),, AHMEDABAD vs. SHRI UPENDRA GANPATRAM PATEL, HUF,, AHMEDABAD

In the result, all the appeals of the Revenue are dismissed, and that of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

section 148 on 4.3.2013. The ld.AO has observed that since vendees have accepted payment of on-money in this land transaction in their return of income, therefore, it is to be construed that vendors might have received on-money and capital gain ought to be assessed in their hands of that on-money. He worked out short capital gain

SHRI SHANTILAL RANCHODDAS PATEL,,AHMEDABAD vs. INCOME TAX OFFICER,, AHMEDABAD

In the result, all the appeals of the Revenue are dismissed, and that of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

section 148 on 4.3.2013. The ld.AO has observed that since vendees have accepted payment of on-money in this land transaction in their return of income, therefore, it is to be construed that vendors might have received on-money and capital gain ought to be assessed in their hands of that on-money. He worked out short capital gain

THE ITO, WARD-6(2),, AHMEDABAD vs. SHRI HARIBHAI MEGHJIBHAI PATEL,, AHMEDABAD

In the result, all the appeals of the Revenue are dismissed, and that of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

section 148 on 4.3.2013. The ld.AO has observed that since vendees have accepted payment of on-money in this land transaction in their return of income, therefore, it is to be construed that vendors might have received on-money and capital gain ought to be assessed in their hands of that on-money. He worked out short capital gain

THE ITO, WARD-2(1)(4),, AHMEDABAD vs. MEDICAL TECHNOLOGIES PVT. LTD.,, AHMEDABAD

In the result, the appeal is dismissed

482,564 533,026 1 ,675,000 2010-11 9,006,240 -4434600 2011-12 9,306,240 159,006 — 2012-13 9,306,240 1,515,954 — 2.6. The above nature of income was verifiable from the profit and loss account and balance sheet submitted by the appellant to the department. As can be noticed from the above that

SUN PHARMACEUTICALS INDUSTRIES LTD. ( ERSTWHILE RANBAXY LABORATORIES LIMITED),BARODA vs. THE ACIT,CENT.CIRCLE-1, BARODA

capital gains of Rs, 14,27,71,965/- and income from other sources of Rs. 1,53,43,279/- without appreciating that the while considering the net business loss 3,02,66,75,122/-, the aforesaid incomes were already offered for tax and thereafter further adding the above incomes in computing the taxable income . 13. Re: Short grant

MEGHMANI ORGANICS LTD.,,AHMEDABAD vs. THE DCIT.,CENT.CIRCLE-1(1),, AHMEDABAD

In the result, assessee’s appeal is allowed for statistical purpose

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

section 482 is inconsistent with its treatment of guarantee fees under other provisions. See P.L.R. 9410008 (Dec. 13, 1993). 39. But of Federal Nat'l Mortgage Ass'n v. Commissioner, 100 T.C. 541, 579 (1993) (Fannie Mae provided services by buying mortgages). 37. We are in agreement with these views. There can thus be activities which benefit the group entities

THE JT. CIT, RANGE-4, AHMEDABAD vs. M/S. MASTEK LTD.,, AHMEDABAD

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

section 482 is inconsistent with its treatment of guarantee fees under other provisions. See P.L.R. 9410008 (Dec. 13, 1993). 39But cf Federal Nat'l Mortgage Ass'n v. Commissioner, 100 T.C. 541, 579 (1993) (Fannie Mae provided services by buying mortgages). 37. We are in agreement with these views. There can thus be activities which benefit the group entities

ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, AHMEDABAD vs. M/S. MASTEK LTD.,, AHMEDABAD

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

section 482 is inconsistent with its treatment of guarantee fees under other provisions. See P.L.R. 9410008 (Dec. 13, 1993). 39But cf Federal Nat'l Mortgage Ass'n v. Commissioner, 100 T.C. 541, 579 (1993) (Fannie Mae provided services by buying mortgages). 37. We are in agreement with these views. There can thus be activities which benefit the group entities

MASTEK LIMITED,AHMEDABAD vs. THE JT.CIT, RANG4,, AHMEDABAD

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

section 482 is inconsistent with its treatment of guarantee fees under other provisions. See P.L.R. 9410008 (Dec. 13, 1993). 39But cf Federal Nat'l Mortgage Ass'n v. Commissioner, 100 T.C. 541, 579 (1993) (Fannie Mae provided services by buying mortgages). 37. We are in agreement with these views. There can thus be activities which benefit the group entities

MASTEK LIMITED,,AHMEDABAD vs. THE DY.CIT, (OSD) - 1, CIRCLE-4,, AHMEDABAD

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

section 482 is inconsistent with its treatment of guarantee fees under other provisions. See P.L.R. 9410008 (Dec. 13, 1993). 39But cf Federal Nat'l Mortgage Ass'n v. Commissioner, 100 T.C. 541, 579 (1993) (Fannie Mae provided services by buying mortgages). 37. We are in agreement with these views. There can thus be activities which benefit the group entities

THE DCIT(OSD) CIRCLE-8,, AHMEDABAD vs. M/S. TORRENT PVT. LIMITED,, AHMEDABAD

Bench: Shri Pramod Kumar & Shri Mahavir Prasad)

capital gains. iv). Rule 8D was introduced precisely to cover the situations wherein the assessee were pushing the expenses relating to exempt income towards taxable income and thereby reducing the taxable income. The intention of the legislature is clearly evident from the Memorandum explaining the provisions contained in the finance Act, wherein it was explained that only those expenses could

THE DY. CIT, CIRCLE-1(2),, VADODARA vs. M/S. WEB GAZER SOFTWARE COMPANY,, VADODARA

482 (Bom.). The issue there was the challenge to the notice under section 148 of the Act. Admittedly, the issue regarding the capital gains

M/S. RANBAXY LABORATORIES LIMITED,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, the appeal of the assessee in IT(TP) A No

Bench: Justice P.P. Bhatt & Shri Waseem Ahmed1. आयकर अपील सं./It(Tp)A No. 1782/Del/2014 2. आयकर अपील सं./It(Tp)A No. 781/Del/2015 ("नधा"रण वष"/Assessment Years : 2009-10 & 2010-11) Ranbaxy Laboratories Ltd. The Dcit बनाम/ 12Th Floor, Devika Tower Circle-21(1), New Vs. 6, Nehru Place, New Delhi Delhi/ 110 019 Addl.Cit Range-15 New Delhi "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacr0127N .. (अपीलाथ"/Appellant) (""यथ" / Respondent) अपीलाथ" ओर से/ Appellant By : Shri S.N.Soparkar, Shri Vartik Chokshi, Ms.Urvashi Shodhan & Shri P.Shah, Ars ""यथ" क" ओर से/Respondent By: Shri Mahesh Shah, Cit-Dr

482 provide and discuss the concept of transfer pricing. Section 1.482-5 of the US Transfer Pricing Regulations state that 'the tested party will be the participant in the controlled transaction whose operating profit attributable to the controlled transactions can be verified using the most reliable data and requiring the fewest and most reliable adjustments, and for which reliable data

RANBAXY LABORATORIES LTD.,DELHI vs. DCIT, NEW DELHI

In the result, the appeal of the assessee in IT(TP) A No

Bench: Justice P.P. Bhatt & Shri Waseem Ahmed1. आयकर अपील सं./It(Tp)A No. 1782/Del/2014 2. आयकर अपील सं./It(Tp)A No. 781/Del/2015 ("नधा"रण वष"/Assessment Years : 2009-10 & 2010-11) Ranbaxy Laboratories Ltd. The Dcit बनाम/ 12Th Floor, Devika Tower Circle-21(1), New Vs. 6, Nehru Place, New Delhi Delhi/ 110 019 Addl.Cit Range-15 New Delhi "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacr0127N .. (अपीलाथ"/Appellant) (""यथ" / Respondent) अपीलाथ" ओर से/ Appellant By : Shri S.N.Soparkar, Shri Vartik Chokshi, Ms.Urvashi Shodhan & Shri P.Shah, Ars ""यथ" क" ओर से/Respondent By: Shri Mahesh Shah, Cit-Dr

482 provide and discuss the concept of transfer pricing. Section 1.482-5 of the US Transfer Pricing Regulations state that 'the tested party will be the participant in the controlled transaction whose operating profit attributable to the controlled transactions can be verified using the most reliable data and requiring the fewest and most reliable adjustments, and for which reliable data

ASAHI SONGWON COLORS LIMITED,AHMEDABAD vs. DEPUTY COMMISSIONER OF INCOME TAX, AAYKAR BHAVAN, AHMEDABAD

The appeal of the assessee is partly allowed

Bench: Smt.Annapurna Gupta & Ms. Suchitra R. Kambleassessment Year : 2017-18 Asahi Songwon Colors Limited, Deputy Commissioner Of Vs. 20 Block B, Times Corporate Income Tax, Park, Opp Copper Stone, Central Circle 2 (3), Thaltej, Shilaj Road, Aaykar Bhavan, Ahmedabad -380059 Ahmedabad Pan : Aaaca 9713 D अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Sunil Talati, Ar Revenue By : Ms. Saumya Pandey Jain, Sr Dr सुनवाई की तारीख/Date Of Hearing : 13.02.2024 घोषणा की तारीख /Date Of Pronouncement: 10.05.2024 आदेश/O R D E R Per Annapurna Guptapresent Appeal Has Been Filed By The Assessee Against Order Of The Commissioner Of Income-Tax (Appeals)-12, Ahmedabad [Hereinafter Referred To As "Cit(A)" For Short] Dated 18.08.2023 Passed Under Section 250(6) Of The Income-Tax Act, 1961 [Hereinafter Referred To As "The Act" For Short], For The Assessment Year (Ay) 2017-18. 2. Ground Nos. 1 & 2, It Was Stated, Relate To The Same Issue Of Disallowance Made Of Expenses Incurred In Relation To Earning Exempt Income, In Terms Of Provisions Of Section 14A Of The Act. The Disallowance So Made By The Assessing Officer & Confirmed By The Ld. Cit(A) Amounts To Rs.23,00,575/-. Ground Nos. 1 & 2 Raised By The Assessee Read As Under:- Asahi Songwon Colors Ltd Vs. Dcit Ay : 2017-18 2

Gain - Rs. 3,59,87,261/- u/s 10(38) of the Act 4. The expense suo moto disallowed by the assessee u/s 14A of the Act pertaining to the earning of exempt income was “Nil”. The persistent plea of the assessee against any disallowance of expenses to be made u/s 14A of the Act was that it had sufficient interest

THE ADDL. CIT, RANGE-1,, AHMEDABAD vs. M/S. ADANI ENTERPRISES LTD.,, AHMEDABAD

In the result, the appeal of the Assessing Officer for the assessment year 2010-11 is dismissed

gains for the recipient entity and thus the MNE group as a whole. In general, thus, the consideration for issuance of corporate guarantees are of a different character altogether. [Para 39] vii. At this stage, it would be appropriate to analyze the business model of bank guarantees, with which corporate guarantees are sometimes compared, in the context of benchmarking

ADANI ENTERPRISES LTD.,AHMEDABAD vs. THE ADDL. CIT,RANGE-1, AHMEDABAD

In the result, the appeal of the Assessing Officer for the assessment year 2010-11 is dismissed

gains for the recipient entity and thus the MNE group as a whole. In general, thus, the consideration for issuance of corporate guarantees are of a different character altogether. [Para 39] vii. At this stage, it would be appropriate to analyze the business model of bank guarantees, with which corporate guarantees are sometimes compared, in the context of benchmarking