CHINMAY GAURANGBHAI SHAH,AHMEDABAD vs. ACIT (INTER.TAXA)-1, AHMEDABAD

In the result, the appeal of the assessee is treated as partly allowed

capital gain shall be dealt with in accordance with the following provisions of this section, that is to say, -" It is clearly stated that intention of legislature was to allow deduction u/s 54 or 54F only when one residential house and that too in India is purchased. The amendment is brought in Act for clearly restricting deduction

THE ITO, WARD-1(3)(4), AHMEDABAD vs. SHRI NILESHKUMAR DASHRATHBHAI PATEL, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

capital gain of Rs. 1,04,55,043/- which was claimed as exempted under section 10(38) of the Act. 3.2 The assessee

THE ITO, WARD-1(2)(3), AHMEDABAD vs. SHRI MAHESH SOMABHAI PATEL, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

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

capital gain declared by the assessee on sale of shares of M/s SRK Industries Limited for ₹ 1,04,55,043/- was treated as bogus and manipulated, leading to the addition by the AO under section

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

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 authority

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

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 authority

THE ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), AHMEDABAD vs. SHRI KAILASH RAMAVATAR GOENKA, AHMEDABAD

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokar

capital gain. 6. The learned CIT(A) has erred in law and on facts of the case in not accepting the contention of the appellant that the amount of Rs. 1,00,00,000 received from Mr. Pawan Jalan was part of internal circulation and therefore, not unexplained receipt at all. 7. Alternatively and without prejudice, such

VISHAL EXPORTS OVERSEAS LTD.,,AHMEDABAD vs. ACIT, CIRCLE-8,, AHMEDABAD

In the result, ground No.7 raised by the assessee is dismissed

Bench: Dr. Arjun Lal Saini & Ms. Madhumita Royassessment Year:2009-10 Vishal Exports Overseas Ltd., The Acit, Circle-8, 301 Sheel Complex, 4 Mayur Colony, Vs Ahmebada. Nr. Mithakhali Six Road, Ahmedabad-380009. Pan :Aaacv 2354 D (Applicant) (Responent) Assessee By : Ms Urvashi Shodhan, Advocate Revenue By : Shria. P. Singh, Sr. Dr सुनवाईक"तार"ख/Date Of Hearing : 21/04/2022 घोषणाक"तार"ख/Date Of Pronouncement: 29/06/2022 आदेश/O R D E R

section 70(3) of the Act, the net resultant long term capital gain on account of sale of these two land will be Rs.53,15,401/-(5942874 - 627473).It is therefore, in the place of addition of Rs.29,46,45,500/- profit as worked out by A.O. it is to be with short term capital gain of Rs.28,52,55

NIRMA CHEMICAL WORKS PVT.LTD.,,AHMEDABAD vs. THE ACIT.,CIRCLE-5,, AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

capital gain assessable in the year when sale was made and loss from the date of conversion to the date of sale was to be treated as business loss, which assessee claimed. The valuation on date of conversion into stock in trade was taken on the basis of report of Chartered Accountant. There was no contrary sale price available

NIRMA CHEMICALS WORKS PVT.LTD.,AHMEDABAD vs. THE DY.CIT.,CIRCLE-5,, AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

capital gain assessable in the year when sale was made and loss from the date of conversion to the date of sale was to be treated as business loss, which assessee claimed. The valuation on date of conversion into stock in trade was taken on the basis of report of Chartered Accountant. There was no contrary sale price available

THE ACIT, CIRCLE-5,, AHMEDABAD vs. NIRMA CHEMICALS WORKS PVT.LTD., AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

capital gain assessable in the year when sale was made and loss from the date of conversion to the date of sale was to be treated as business loss, which assessee claimed. The valuation on date of conversion into stock in trade was taken on the basis of report of Chartered Accountant. There was no contrary sale price available

NIRMA CHEMICALS WORKS PVT.LTD.,AHMEDABAD vs. THE DY.CIT.,CIRCLE-5,, AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

capital gain assessable in the year when sale was made and loss from the date of conversion to the date of sale was to be treated as business loss, which assessee claimed. The valuation on date of conversion into stock in trade was taken on the basis of report of Chartered Accountant. There was no contrary sale price available

THE ACIT, CIRCLE-5,, AHMEDABAD vs. NIRMA CHEMICALS WORKS PVT.LTD., AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

capital gain assessable in the year when sale was made and loss from the date of conversion to the date of sale was to be treated as business loss, which assessee claimed. The valuation on date of conversion into stock in trade was taken on the basis of report of Chartered Accountant. There was no contrary sale price available

THE ACIT, CIRCLE-5,, AHMEDABAD vs. NIRMA CHEMICALS WORKS PVT.LTD., AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

capital gain assessable in the year when sale was made and loss from the date of conversion to the date of sale was to be treated as business loss, which assessee claimed. The valuation on date of conversion into stock in trade was taken on the basis of report of Chartered Accountant. There was no contrary sale price available

DCIT CIRCLE-3(3), AHMEDABAD vs. SHRI ALPESHKUMAR C.PATEL, AHMEDABAD

In the result, the appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed & Shri T.R. Senthil Kumarआयकर अपील सं./Ita No. 1908/Ahd/2018 िनधा"रण वष"/Asstt. Year: 2011-2012 Alpeshkumar C. Patel, A.C.I.T., 503, Milestone Building, Vs. Circle-3(3), Drive In Road, Ahmedabad. Thaltej, Ahmedabad-380052. Pan: Aeapp9489G

capital gain in the event the assessee makes the sale of its bungalow in dispute. It is because the revenue has not doubted on the incurrence of such expenses while framing the assessment. Besides the above, all the necessary details of the construction expenses were made available to the authorities below along with the addresses and the payments were made

MR. JOBANJI THAKOR,AHMEDABAD vs. THE ITO. WARD-3(2)(2), AHMEDABAD

Appeal is partly allowed

Bench: SHRI T.R. SENTHIL KUMAR, JUDICIAL MEMBER\nAND\nSHRI MAKARAND V. MAHADEOKAR, ACCOUNTANT MEMBER\nआयकर अपील सं/ITA No.264/Ahd/2019\nनिर्धारण वर्ष / Assessment Year : 2015-16\nMr. Jobanji Thakor\nThe ITO\nF-40, Abugiri Society\nबनाम / Ward-3(2)(2)\nTal. Daskroi, Jagatpur\nv/s.\nAhmedabad\nAhmedabad - 382 470\nस्थायी लेखा सं./PAN: AKNPT 2930 M\n(अपीलार्थी/ Appellant)\n(प्रत्यर्थी / Respondent)\nAssessee by:\nShri Mehul K. Patel, AR\nRevenue by :\nShri A.P. Singh, CIT-DR\nसुनवाई की तारीख/Date of

Sections 54B and 54F\n(rounded off)\nFinal long-term capital gain (as per assessee's revised\ncomputation)\n2,08,10,450/-\n15,25,760/-\n33,10,450/-\n1,59,74,240/-\n87,11,000/-\n25,08,037/-\n1,12,19,000/-\n47,55

VINODCHANDRA T PARIKH,AHMEDABAD vs. ITO, WARD-2(1)(2),, AHMEDABAD

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

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No. 457/Ahd/2018 िनधा"रण वष"/Asstt. Year: 2013-2014 Vinodchandra T. Parikh, I.T.O, 31, Shail, Vs. Ward-2(1)(2), Opp. Madhusudan House, Ahmedabad. Navrangpura, Ahmedabad.

section 54 of the Act even on the amount invested by the assessee within a period of 3 years. Thus the AO has computed the long-term capital gain at Rs. 4,05,20,000.00 but made the addition of Rs. 2,48,49,050.00 after reducing the amount ( 1,56,70,950.00) already offered by the assessee

ALPA UDAYKUMAR SHAH,,BHAVNAGAR vs. ITO, WARD-1(2),, BHAVNAGAR

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed, Accountant Memebr & Shri Siddhartha Nautiyal, Judicial Memebr

gain of Rs. 1,15,49,320/-claimed by the assessee as bogus and added to the total income of the assessee as unexplained cash credit under section 68 of the Act. 4. Aggrieved assessee preferred an appeal to the learned CIT(A) and besides reiterating its submission made before the AO contended that the purchase of share

THAKORBHAI MAGANBHAI PATEL,VADODARA vs. THE ITO, WARD- 3(1)(1), VADODARA

section\n148, contending that there was no escapement of income and that objections\nwere not disposed of by a separate speaking order. On merits, the assessee\ncontended that the land sold was agricultural land and not a capital asset, that\ncapital gains could not be taxed in A.Y. 2008-09 as substantial consideration\nwas received in subsequent years, that