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488 results for “capital gains”+ Section 74clear

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Key Topics

Addition to Income56Section 14A55Disallowance54Section 143(3)51Section 80I36Deduction29Section 54F27Section 43B24Section 14823

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

ITA 295/AHD/2022[2018-19]Status: DisposedITAT Ahmedabad07 Feb 2024AY 2018-19

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

For Appellant: Shri Tushar Hemani, Sr. Advocate with Shri Parimalsinh B. ParmarFor Respondent: Shri Sudhendu Das, CIT.D.R
Section 50Section 54ESection 70Section 74

gains arising out of sale of depreciable asset of Solar Power Plant as short term in nature, denied the set off to A.Y. 2018-19 3 this income from the Long Term Capital Loss arising out of sale of shares in subsidiary company in view of section 74

Showing 1–20 of 488 · Page 1 of 25

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Penalty23
Depreciation22
Section 143(2)19

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

ITA 914/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad29 Nov 2019AY 2012-13

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 111ASection 143(3)Section 14ASection 43B

Capital Gain needs to be accepted. We accordingly order so and allow the respective Ground No.4 of the assessee’s appeal for Assessment Years 2010-11and 2011-12 and dismiss Ground No.7 & 5 of Revenue for Assessment Years 2010-11 , 2011-12 and 2012-13 respectively. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14

KIFS SECURITIES LTD.,,AHMEDABAD vs. THE JT.CIT, RANGE- 3,, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

ITA 2717/AHD/2014[2011-12]Status: DisposedITAT Ahmedabad29 Nov 2019AY 2011-12

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 111ASection 143(3)Section 14ASection 43B

Capital Gain needs to be accepted. We accordingly order so and allow the respective Ground No.4 of the assessee’s appeal for Assessment Years 2010-11and 2011-12 and dismiss Ground No.7 & 5 of Revenue for Assessment Years 2010-11 , 2011-12 and 2012-13 respectively. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14

KIFS SECURITIES LTD.,,AHMEDABAD vs. THE JT.CIT, RANGE- 3,, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

ITA 643/AHD/2014[2010-11]Status: DisposedITAT Ahmedabad29 Nov 2019AY 2010-11

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 111ASection 143(3)Section 14ASection 43B

Capital Gain needs to be accepted. We accordingly order so and allow the respective Ground No.4 of the assessee’s appeal for Assessment Years 2010-11and 2011-12 and dismiss Ground No.7 & 5 of Revenue for Assessment Years 2010-11 , 2011-12 and 2012-13 respectively. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14

KIFS SECURITIES PVT. LTD.,AHMEDABAD vs. THE ACIT, CIRCLE-1(3), AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

ITA 786/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad29 Nov 2019AY 2012-13

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 111ASection 143(3)Section 14ASection 43B

Capital Gain needs to be accepted. We accordingly order so and allow the respective Ground No.4 of the assessee’s appeal for Assessment Years 2010-11and 2011-12 and dismiss Ground No.7 & 5 of Revenue for Assessment Years 2010-11 , 2011-12 and 2012-13 respectively. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14

KIFS SECURITIES PVT. LTD.,,AHMEDABAD vs. THE ACIT, CIRCLE-1(3),, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

ITA 63/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad29 Nov 2019AY 2013-14

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 111ASection 143(3)Section 14ASection 43B

Capital Gain needs to be accepted. We accordingly order so and allow the respective Ground No.4 of the assessee’s appeal for Assessment Years 2010-11and 2011-12 and dismiss Ground No.7 & 5 of Revenue for Assessment Years 2010-11 , 2011-12 and 2012-13 respectively. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14

KIFS SECURITIES PVT. LTD.,,AHMEDABAD vs. THE ACIT, CIRCLE-1(3), AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

ITA 1885/AHD/2017[2014-15]Status: DisposedITAT Ahmedabad29 Nov 2019AY 2014-15

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 111ASection 143(3)Section 14ASection 43B

Capital Gain needs to be accepted. We accordingly order so and allow the respective Ground No.4 of the assessee’s appeal for Assessment Years 2010-11and 2011-12 and dismiss Ground No.7 & 5 of Revenue for Assessment Years 2010-11 , 2011-12 and 2012-13 respectively. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14

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

ITA 932/AHD/2014[2010-11]Status: DisposedITAT Ahmedabad29 Nov 2019AY 2010-11

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 111ASection 143(3)Section 14ASection 43B

Capital Gain needs to be accepted. We accordingly order so and allow the respective Ground No.4 of the assessee’s appeal for Assessment Years 2010-11and 2011-12 and dismiss Ground No.7 & 5 of Revenue for Assessment Years 2010-11 , 2011-12 and 2012-13 respectively. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14

THE ACIT, CIRCLE-3,, AHMEDABAD vs. KIFS SECURITIES LIMITED,, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

ITA 2882/AHD/2014[2011-12]Status: DisposedITAT Ahmedabad29 Nov 2019AY 2011-12

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 111ASection 143(3)Section 14ASection 43B

Capital Gain needs to be accepted. We accordingly order so and allow the respective Ground No.4 of the assessee’s appeal for Assessment Years 2010-11and 2011-12 and dismiss Ground No.7 & 5 of Revenue for Assessment Years 2010-11 , 2011-12 and 2012-13 respectively. KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14

SCARLETT DESIGNS PVT. LTD.,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-8(1),, AHMEDABAD

In the result, the appeal of the assessee stands allowed

ITA 2839/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad01 Apr 2019AY 2010-11

Bench: Shri Pramod Kumar & Ms. Madhumita Roy

For Appellant: Shri Tushar P. Hemani, A.RFor Respondent: Shri S. K. Dev, Sr. D.R
Section 143(1)Section 154Section 250(6)Section 71(2)Section 72(1)Section 74

74 of the Act, operative w.e.f. A.Y. 2003-04. It was the case of the assessee that the Short Term Capital Loss of Rs.16,17,834/- was already determined in A.Y. 2009-10 and such loss was required to be set off against Capital Gain of Rs.15,55,609/- to arrive at assessable capital gain in terms of Section

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

ITA 1668/AHD/2012[2006-07]Status: DisposedITAT Ahmedabad05 Mar 2020AY 2006-07

Bench: Shri Sandeep Gosain & Shri Amarjit Singh

For Appellant: Shri Vartik ChowkshiFor Respondent: Shri Samir Tekriwal, CIT-DR
Section 115JSection 14Section 143(3)Section 14A

gains without considering Indexation of actual cost relating to the period the investments in question were held by the previous owners (Amalgamating Companies) resulting into disallowance of carry forward of long term capital loss of 'Rs. 7,72,9 7, 783 (Rs. 8,20,72,060 minus Rs. 47,74,277). As only a plain reading of the impugned reassessment

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

ITA 117/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2011-12

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

For Appellant: Shri S.N. Soparkar, and Shri Parin Shah, ARFor Respondent: Shri Subhas Bains, CIT-DR and Shri Vinod Tanwani, Sr.DR

section 80 of the Companies Act, 1956 and observed that first proviso to this section provided that “no such shares shall be redeemed except out of profits of the company which would otherwise be available for dividend or out of the proceeds of a fresh issue of shares made for the purposes of the redemption”. Thus, according to the ld.CIT

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

ITA 2546/AHD/2012[2009-10]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2009-10

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

For Appellant: Shri S.N. Soparkar, and Shri Parin Shah, ARFor Respondent: Shri Subhas Bains, CIT-DR and Shri Vinod Tanwani, Sr.DR

section 80 of the Companies Act, 1956 and observed that first proviso to this section provided that “no such shares shall be redeemed except out of profits of the company which would otherwise be available for dividend or out of the proceeds of a fresh issue of shares made for the purposes of the redemption”. Thus, according to the ld.CIT

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

ITA 135/AHD/2015[2008-09]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2008-09

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

For Appellant: Shri S.N. Soparkar, and Shri Parin Shah, ARFor Respondent: Shri Subhas Bains, CIT-DR and Shri Vinod Tanwani, Sr.DR

section 80 of the Companies Act, 1956 and observed that first proviso to this section provided that “no such shares shall be redeemed except out of profits of the company which would otherwise be available for dividend or out of the proceeds of a fresh issue of shares made for the purposes of the redemption”. Thus, according to the ld.CIT

THE ADDL.CIT, RANGE-1, BARODA vs. GUJARAT FLUOROCHEMEICALS LTD, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

ITA 548/AHD/2016[2010-11]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2010-11

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

For Appellant: Shri S.N. Soparkar, and Shri Parin Shah, ARFor Respondent: Shri Subhas Bains, CIT-DR and Shri Vinod Tanwani, Sr.DR

section 80 of the Companies Act, 1956 and observed that first proviso to this section provided that “no such shares shall be redeemed except out of profits of the company which would otherwise be available for dividend or out of the proceeds of a fresh issue of shares made for the purposes of the redemption”. Thus, according to the ld.CIT

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

ITA 116/AHD/2016[2010-11]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2010-11

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

For Appellant: Shri S.N. Soparkar, and Shri Parin Shah, ARFor Respondent: Shri Subhas Bains, CIT-DR and Shri Vinod Tanwani, Sr.DR

section 80 of the Companies Act, 1956 and observed that first proviso to this section provided that “no such shares shall be redeemed except out of profits of the company which would otherwise be available for dividend or out of the proceeds of a fresh issue of shares made for the purposes of the redemption”. Thus, according to the ld.CIT

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

ITA 2365/AHD/2012[2009-10]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2009-10

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

For Appellant: Shri S.N. Soparkar, and Shri Parin Shah, ARFor Respondent: Shri Subhas Bains, CIT-DR and Shri Vinod Tanwani, Sr.DR

section 80 of the Companies Act, 1956 and observed that first proviso to this section provided that “no such shares shall be redeemed except out of profits of the company which would otherwise be available for dividend or out of the proceeds of a fresh issue of shares made for the purposes of the redemption”. Thus, according to the ld.CIT

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

ITA 106/AHD/2016[2010-11]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2010-11

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

For Appellant: Shri S.N. Soparkar, and Shri Parin Shah, ARFor Respondent: Shri Subhas Bains, CIT-DR and Shri Vinod Tanwani, Sr.DR

section 80 of the Companies Act, 1956 and observed that first proviso to this section provided that “no such shares shall be redeemed except out of profits of the company which would otherwise be available for dividend or out of the proceeds of a fresh issue of shares made for the purposes of the redemption”. Thus, according to the ld.CIT

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

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

ITA 324/AHD/2020[2013-14]Status: DisposedITAT Ahmedabad07 Aug 2024AY 2013-14

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

Section 139(1)Section 139(4)Section 143(3)Section 54Section 54F

Section 54(2) of the Act.” 9. Further the Hon’ble High Court of Madras in the case of C. Aryama Sundaram Vs. CIT reported in (2018) 97 taxmann.com 74 wherein on an identical facts held as follows: 20. What has to be adjusted and/or set off against the capital gain

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

In the result, this appeal of assessee is allowed

ITA 1546/AHD/2019[2016-17]Status: DisposedITAT Ahmedabad13 Apr 2022AY 2016-17

Bench: Smt. Annapurna Gupta& Ms. Madhumita Roy

For Appellant: Shri S. N. Soparkar, Sr. Adv., & ShriFor Respondent: Shri Purushottam Kumar, Sr. DR
Section 10(38)Section 143(3)Section 70

74,578/-. 4. The Ld. AO completed assessment u/s 143(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