M/S. VENUS INFRASTRUCTURE & DEVELOPERS PVT. LTD.,,AHMEDABAD vs. THE DCIT, (OSD) CIRCLE-8,, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No. 1582/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2012-2013 M/S. Venus Infrastructure & D.C.I.T.,(Osd) Developers (P) Ltd., Vs. Central Circle-8, 801-802, Broadway Business Ahmedabad. Centre, Opp. Mayor’S Bungalow, Law Garden Ellisbridge, Ahmedabad. Pan: Aahcs6254J

gain on transfer of share after claiming indexed cost of acquisition as the holding period of shares by assessee was for more than 12 month by virtue of proviso to section 2(42A) of the Act read with section 2(29A) of the Act. Thus, the assessee choses one option out of two legally permissible options which it deem most

SHRI MANAV VIKAS FOUNDATION,CHAMARAJ, TL. VADHAVAN vs. ITO, WARD-2(EXEMP), AHMEDABAD

In the result, the appeal of the asessee is allowed

Capital expenditure amounting to Rs.3,02,379 since in the absence of being assessed u/s 11 the appellant would need to be assessed as an AOP and expenses for the objects of the Trust cannot be disallowed. Furthermore, the appellant also requested to keep the present appeal proceedings in abeyance till the disposal of condonation application filed

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)

Capital Gain – [as per Return of income] Rs. 11,37,32,825/- D. Income from other sources [as per Return of income] Rs. 80,07,21,966/- Assessed Income Rs. 18,07,02,90,489/- Brought forward losses of Rs. 2,41,44,65,028/- Rs. Nil for A.Y. 2013-14 Adjusted fully by the Dept. while passing order

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

DISHMAN PHARMACEUTICALS & CHEMICALS LTD.,,AHMEDABAD vs. THE ACIT.,(OSD)RANGE-1,, AHMEDABAD

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

92E of the Income Tax Act, 1961 relating to international transactions was submitted in Form No.3CEB. The ld.AO has made reference to the TPO for determination of arm’s length price (ALP for short) of international transactions undertaken by the assessee with its AE. The ld.TPO vide its order dated 29.9.2009 recommended upward adjustment of Rs.15

THE DCIT(OSD)RANGE-1,, AHMEDABAD vs. DISHMAN PHARMACEUTICALS & CHEMICALS LTD.,, AHMEDABAD

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

92E of the Income Tax Act, 1961 relating to international transactions was submitted in Form No.3CEB. The ld.AO has made reference to the TPO for determination of arm’s length price (ALP for short) of international transactions undertaken by the assessee with its AE. The ld.TPO vide its order dated 29.9.2009 recommended upward adjustment of Rs.15

THE ACIT,(OSD)RANGE-1,, AHMEDABAD vs. M/S. DISHMAN PHARMACEUTICALS & CHEMICALS LTD.,, AHMEDABAD

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

92E of the Income Tax Act, 1961 relating to international transactions was submitted in Form No.3CEB. The ld.AO has made reference to the TPO for determination of arm’s length price (ALP for short) of international transactions undertaken by the assessee with its AE. The ld.TPO vide its order dated 29.9.2009 recommended upward adjustment of Rs.15

DISHMAN PHARMACEUTICALS & CHEMICALS LIMITED,,AHMEDABAD vs. THE ACIT, (OSD),RANGE-1,, AHMEDABAD

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

92E of the Income Tax Act, 1961 relating to international transactions was submitted in Form No.3CEB. The ld.AO has made reference to the TPO for determination of arm’s length price (ALP for short) of international transactions undertaken by the assessee with its AE. The ld.TPO vide its order dated 29.9.2009 recommended upward adjustment of Rs.15

THE DCIT(OSD)RANGE-1,, AHMEDABAD vs. DISHMAN PHARMACEUTICALS & CHEMICALS LTD.,, AHMEDABAD

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

92E of the Income Tax Act, 1961 relating to international transactions was submitted in Form No.3CEB. The ld.AO has made reference to the TPO for determination of arm’s length price (ALP for short) of international transactions undertaken by the assessee with its AE. The ld.TPO vide its order dated 29.9.2009 recommended upward adjustment of Rs.15

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

92E, "international transaction'' means a transaction between two or more associated enterprises, either or both of whom are non- residents, in the nature of purchase, sale or lease of tangible or intangible property, or provision of services, or lending or borrowing money, or any other transaction having a bearing on the profits, income, losses or assets of such enterprises

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.

capital gain which is taxable. Accordingly, the submission of the appellant is accepted and the AO is directed to calculate the disallowance by applying the third limb of rule 8D after excluding the investment in foreign subsidiaries and also the investment in Debt Funds. The appellant has submitted that out of the total average value of investment cf 193.57 crores

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.

capital gain which is taxable. Accordingly, the submission of the appellant is accepted and the AO is directed to calculate the disallowance by applying the third limb of rule 8D after excluding the investment in foreign subsidiaries and also the investment in Debt Funds. The appellant has submitted that out of the total average value of investment cf 193.57 crores

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.

capital gain which is taxable. Accordingly, the submission of the appellant is accepted and the AO is directed to calculate the disallowance by applying the third limb of rule 8D after excluding the investment in foreign subsidiaries and also the investment in Debt Funds. The appellant has submitted that out of the total average value of investment cf 193.57 crores

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.

capital gain which is taxable. Accordingly, the submission of the appellant is accepted and the AO is directed to calculate the disallowance by applying the third limb of rule 8D after excluding the investment in foreign subsidiaries and also the investment in Debt Funds. The appellant has submitted that out of the total average value of investment cf 193.57 crores

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

Gain/ Loss on transfer of leasehold land alongwith building at Jejuri in the assessment year under consideration. 13.1 That the Ld. AO / DRP erred in not accepting/considering the valuation report certified by an independent valuer in respect of the leasehold land transferred by the appellant. 14. That the Ld.AO/DRP erred on facts and in law in disallowing

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

Gain/ Loss on transfer of leasehold land alongwith building at Jejuri in the assessment year under consideration. 13.1 That the Ld. AO / DRP erred in not accepting/considering the valuation report certified by an independent valuer in respect of the leasehold land transferred by the appellant. 14. That the Ld.AO/DRP erred on facts and in law in disallowing

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-5(1), HYDERABAD, HYDERABAD vs. MYTRAH VAYU (GUJARAT) PRIVATE LIMITED, HYDERABAD

In the result, appeal filed by the Revenue is dismissed

Bench: SMT. ANNAPURNA GUPTA (Accountant Member), Ms. SUCHITRA KAMBLE (Judicial Member)

capital work-in-progress. The above facts are not disputed. The transactions qualifying as SDT in law are listed in Section 92BA of the Act which is reproduced hereunder: “Meaning of specified domestic transaction. 92BA. For the purposes of this section and sections 92, 92C, 92D and 92E, "specified domestic transaction" in case of an assessee means

THE DCIT, CIRCLE-1,, AHMEDABAD vs. AIA ENGINEERING LTD.,, AHMEDABAD

In the result, ITA Appeals 1766/Ahd/12, 2342/Ahd/15, 2343/Ahd/2015,

capital or share holders’ activities and not in the nature of provision of services. Therefore, the said transaction is to be excluded from the scope of international transaction u/s. 92B of the Act. The ld. counsel has also brought to our notice that identical issue has been adjudicated by the Co-ordinate Bench of the ITAT in favour