SMT. RASHIDABEN TAHER MORAWALA,GODHRA vs. THE DCIT, INT.-TAXA., BARODA

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

70,390/-. The return was taken for scrutiny assessment. The assessee sold immovable property on 23.01.2015 in the form of office premises bearing No. 3,4,5,6,7,13 & 14, in building wing “CBI” at Wonder City situated at Katran village, Taluka-Haveli, Pune-District and also adjacent Terrance portion for a consideration

ZYDUS LIFESCIENCES LIMITED (FORMERLY KNOWN AS CADILA HEALTHCARE LTD.),AHMEDABAD vs. THE DCIT, CIRCLE-1(1)(1), AHMEDABAD

In the result, appeal preferred by the assessee is allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./I.T.A. No. 162/Ahd/2021 ("नधा"रण वष" / Assessment Years : 2016-17)

70,46,681 Tax @ 18.5% Rs. 372,16,53,636 8. The assessee filed its objection before the Hon’ble DRP-2, Mumbai against the said draft order issued under Section 144C of the Act dated 12.12.2019. The Hon’ble Dispute Resolution Panel- 2, Mumbai passed order under Section 144C(5) of the Act dated 19.03.2021 issuing certain directions

MRS. SHIKHA SANJAYA SHARMA,MUMBAI vs. THE DCIT, CIRCLE-1(1)(1), AHMEDABAD

In the result, this appeal of assessee is allowed

Bench: Smt. Annapurna Gupta& Ms. Madhumita Roy

3) and assessed the Total Income at the same amount of Rs. 17,25,67,630/- as declared by the assessee, but made set-off of Long-Term Capital Loss (STT not paid) of Rs.15,41,625/- and Short-Term Capital Loss of Rs. 2,46,64,662/- against the Long-Term Capital Gain

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)

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 & 48 of the Act. The Hon'ble ITAT, Hyderabad (SB) in the case of Dr. B.V. Raju (18 taxmann.com

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)

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 & 48 of the Act. The Hon'ble ITAT, Hyderabad (SB) in the case of Dr. B.V. Raju (18 taxmann.com

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)

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 & 48 of the Act. The Hon'ble ITAT, Hyderabad (SB) in the case of Dr. B.V. Raju (18 taxmann.com

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

70,614/-, by making various additions/disallowances of Rs.13,19,12,485/- as capital gains under normal provisions of the Act and Rs.129,12,24,408/- as book profits u/s 115JB of the Act. 3. Aggrieved by the order of the Assessing Officer, the assessee has filed appeal before the ld. CIT(A) who confirmed/deleted some of the additions/ disallowances made

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

70,614/-, by making various additions/disallowances of Rs.13,19,12,485/- as capital gains under normal provisions of the Act and Rs.129,12,24,408/- as book profits u/s 115JB of the Act. 3. Aggrieved by the order of the Assessing Officer, the assessee has filed appeal before the ld. CIT(A) who confirmed/deleted some of the additions/ disallowances made

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

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 gains year-wise as computed and directed by the CIT(A). B. Grounds relating to Addition in respect of Internal Circulation of Funds and Unaccounted Receipts and Payments 15. The issue involved under these grounds pertain to unaccounted cash receipts and unaccounted cash payments, as reflected in the seized documents during the search operation. The AO made substantial additions

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 account. The liability is still standing in the books of account. The Hon'ble Gujarat high court in the case of commissioner of income tax Vs. Chetan Chemicals (P) Ltd. (2004) 267 ITR 770 while dealing with both section i.e. 41(1) of the IT. Act held that, "Before section 41(1) can be invoked, it is necessary that

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

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

gain (Rs.) (ii) Sale consideration of land at Irrukundarai 1,40,040 less: Indexed cost of acquisition 633000 x 582/480 7,67,512 Long term capital loss 6,27,473 As per provisions of section 70(3

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

70,000/-\n24,97,375/-\n19,17,001/-\n25,08,037/-\n5,91,036/-\n3. 3. Accordingly, the AO proportionately disallowed Rs.5,91,036/- from\nthe claimed deduction.\n3. 4. The assessee claimed exemption under Section 54B of the Act for an\namount of Rs.87,11,000/-, stating that he had reinvested the capital gains