GUJARAT MEDICAL EDUCATION AND RESEARCH SOCIETY AHMEDABAD,GANDHINAGAR vs. THE DY.CIT, CIRCLE-1, EXEMP, AHMEDABAD

In the result, the appeals of the assessee for A

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

69C read with section 115BBE were unjustified as the transactions were from explainable sources, and, without prejudice, that even otherwise only net income could be assessed after allowing telescoping. The assessee also submitted that that the delay in filing the appeal was on account of its bona fide belief of being exempt from tax and non-appointment

GUJARAT MEDICAL EDUCATION AND RESEARCH SOCIETY AHMEDABAD,GANDHINAGAR vs. THE DY.CIT, CIRCLE-1, EXEMP, AHMEDABAD

In the result, the appeals of the assessee for A

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

69C read with section 115BBE were unjustified as the transactions were from explainable sources, and, without prejudice, that even otherwise only net income could be assessed after allowing telescoping. The assessee also submitted that that the delay in filing the appeal was on account of its bona fide belief of being exempt from tax and non-appointment

GUJARAT MEDICAL EDUCATION AND RESEARCH SOCIETY AHMEDABAD,GANDHINAGAR vs. THE DY.CIT, CIRCLE-1, EXEMP, AHMEDABAD

In the result, the appeals of the assessee for A

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

69C read with section 115BBE were unjustified as the transactions were from explainable sources, and, without prejudice, that even otherwise only net income could be assessed after allowing telescoping. The assessee also submitted that that the delay in filing the appeal was on account of its bona fide belief of being exempt from tax and non-appointment

GUJARAT MEDICAL EDUCATION AND RESEARCH SOCIETY AHMEDABAD,GANDHINAGAR vs. THE DY.CIT, CIRCLE-1, EXEMP, AHMEDABAD

In the result, the appeals of the assessee for A

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

69C read with section 115BBE were unjustified as the transactions were from explainable sources, and, without prejudice, that even otherwise only net income could be assessed after allowing telescoping. The assessee also submitted that that the delay in filing the appeal was on account of its bona fide belief of being exempt from tax and non-appointment

THE ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1),, AHMEDABAD vs. SHRI SANJAY KISHANLAL BISHNOI,, AHMEDABAD

Bench: Shri Ramit Kochar & Ms. Suchitra Kamble

section 69C is not attracted as the assessee is into reasale business. Principle of consistency is to be followed keeping in view preceding years. The ld. Counsel for the assessee relied upon the judgment of Hon’ble Supreme Court AYs:2014-15 & 2015-16 Sh. Sanjay Kishanlal Bishnoi in the case of CIT v. J.K. Charitable Trust

THE ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1),, AHMEDABAD vs. SHRI SANJAY KISHANLAL BISHNOI,, AHMEDABAD

Bench: Shri Ramit Kochar & Ms. Suchitra Kamble

section 69C is not attracted as the assessee is into reasale business. Principle of consistency is to be followed keeping in view preceding years. The ld. Counsel for the assessee relied upon the judgment of Hon’ble Supreme Court AYs:2014-15 & 2015-16 Sh. Sanjay Kishanlal Bishnoi in the case of CIT v. J.K. Charitable Trust