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

deemed dividend u/s 2(22)(e) of the Act'.'" 9. And the relevant findings of the Hon'ble High Court reads as under:- 4. It can thus be seen that the Commissioner as a matter of fact found that the payments were not in the nature of current adjustment. There was movement of fund both ways on need basis

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

deemed dividend u/s 2(22)(e) of the Act'.'" 9. And the relevant findings of the Hon'ble High Court reads as under:- 4. It can thus be seen that the Commissioner as a matter of fact found that the payments were not in the nature of current adjustment. There was movement of fund both ways on need basis

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

deemed dividend u/s 2(22)(e) of the Act'.'" 9. And the relevant findings of the Hon'ble High Court reads as under:- 4. It can thus be seen that the Commissioner as a matter of fact found that the payments were not in the nature of current adjustment. There was movement of fund both ways on need basis

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

deemed dividend u/s 2(22)(e) of the Act'.'" 9. And the relevant findings of the Hon'ble High Court reads as under:- 4. It can thus be seen that the Commissioner as a matter of fact found that the payments were not in the nature of current adjustment. There was movement of fund both ways on need basis

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

deemed dividend u/s 2(22)(e) of the Act'.'" 9. And the relevant findings of the Hon'ble High Court reads as under:- 4. It can thus be seen that the Commissioner as a matter of fact found that the payments were not in the nature of current adjustment. There was movement of fund both ways on need basis

M/S. PRECIMETAL CAST PVT. LTD.,,KADI vs. THE INCOME TAX OFFICER, WARD-3(1)(4),, AHMEDABAD

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

deemed dividend.” In view of the findings as supra Hon’ble Jurisdictional High Court wherein it is held that for the applicability of section 2(22)(e), it is required that the assessee company must be a shareholder in the company from whom the loan or advance has been taken and it does not provide that any shareholder

KESAR BUILDCON PRIVATE LIMITED,BANASKANTHA vs. THE PCIT, AHMEDABAD-3, AHMEDABAD

Accordingly, we set aside the order passed by the PCIT and restore the assessment order passed by the Assessing Officer. The appeal of the assessee is thus allowed

Bench: S/Shri Sanjay Garg & Makarand V.Mahadeokarasstt.Year : 2021-2028 Kesar Buildcon Pvt. Ltd. The Ld.Pr.Cit 1St Floor Shri Kesar Cold Vs. Ahmedabad-3 Storage Plot No.B-2 To 9, Rev Survey No.85/2 Paiki Near Hotel Jyoti Vil Banaskantha. Pan : Aabck 4923 E (Applicant) (Responent) : Shri Hem Chhajed, Ar Assessee By : Shri Rignesh Das, Cit-Dr Revenue By सुनवाई क" तारीख/Date Of Hearing : 03/09/2025 घोषणा क" तारीख /Date Of Pronouncement: 08/09/2025

Depreciation, Interest and Taxes) as compared to business turnover.” Pursuant thereto, notices under section 143(2) dated 28.06.2022 and 142(1) dated 11.08.2022, 08.10.2022, 24.11.2022 of the Act were issued to the assessee calling for details in relation to its return of income, profit and loss account, and other supporting documents. 2.2 Despite initial non-compliance, the assessee eventually furnished

SHRI GIRISHBHAI M.PATEL,,AHMEDABAD vs. THE ACIT.,MEHSANA CIRCLE,, MEHSANA

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

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No. 337/Ahd/2014 िनधा"रण वष"/Asstt. Year: 2005-2006 Girishbhai M. Patel, A.C.I.T., 4, Regent Park, Vs. Mehsana Circle, Vanza Co-Operative Society, Mehsana. Part-Ii, Near Judges Bungalow, Bodakdev, Ahmedabad-380015. Pan: Abypp8093M

Deemed dividend u/s.2(22)(e) of the Act Rs.21,71,160/- (2) Disallowance of interest paid on borrowed Rs.1,13,176/- capital for construction of house (3) Disallowance on depreciation

TECHNODOT ENGINEERS PVT. LTD,GANDHINAGAR vs. THE DCIT, CIRCLE-2(2), AHMEDABAD

Appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokari.T(Ss).A. Nos.147&148/Ahd/2019 (A.Ys.: 2005-06 & 2006-07) Smt. Neelu Sanjay Gupta, Vs. Deputy Commissioner Of L/H. Of Late Shri Sanjay Gupta Income Tax, B-202, Dhananjay Tower, Central Circle-2(2), Anand Nagar Road, Satellite, Ahmedabad Ahmedabad-380015 [Pan No.Adypg0351K] (Appellant) .. (Respondent) I.T(Ss).A. Nos.21 To 23/Ahd/2020 & 15/Ahd/2022 & Ita No. 93/Ahd/2020) (A.Ys.: 2007-08, 2008-09 & 2006-07 & 2010-11 To 2011-12) M/S. Technodot Engineers Ltd., Vs. Deputy Commissioner Of C/O. Cambay Hotel & Resorts, Income Tax, Plot No. 22, 23, 24 Gidc, Central Circle-2(2), Sector-25, Gandhinagar-382010 Ahmedabad [Pan No.Aabct5392A] (Appellant) .. (Respondent)

deemed dividends, which had to be included in the taxable income under the relevant provisions of the Income Tax Act. The Assessing Officer also made a disallowance of a deduction under Section 80G, amounting to Rs. 15,000/-. This disallowance was made because the necessary supporting documents for claiming the deduction were either insufficient or not provided. Moreover, unrecorded interest

ANANYA FINANCE FOR INCLUSIVE GROWTH PVT.LTD.,,AHMEDABAD vs. DY.COMMISSIONER OF INCOME TAX,CIRCLE-1(1)(2),, AHMEDABAD

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

Bench: Smt.Annapurna Gupta & Shri Mahavir Prasadassessment Year : 2011-12 Ananya Finance For Inclusive The Dcit, Cir.1(1)(1) Growth P Ltd. Ambawadi 401, Shaan, Op: M.J. Library Ahmedabad 380015. Ashram Road Ahmedabad 380 009. Pan : Aahca 8023 D

deemed dividend, Section 94 relating to dividend stripping, clubbing of income of minors, are few such provisions where the legislature has enacted specific anti-tax avoidance rules. It is the obligation and duty of the court/tribunal to apply the said provisions in terms of the legislative mandate. When a specific anti-tax avoidance section/rule is invoked, the court

THE ACIT, CIRCLE-2(1)(2),, AHMEDABAD vs. KANSARA POPATLAL TRIBHOVANDAS METAL PVT. LTD.,, AHMEDABAD

In the result, the appeal of the Revenue is dismissed while the Cross

Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyal

dividends. Therefore, a Minimum Alternate Tax was sought to be imposed on `zero tax' Companies. Section 115J of the Act imposes tax on a deemed income. Section 115J of the Act is a special provision relating only to certain Companies. The said section does not make any distinction between public and private limited companies. In our view, Section 115J

GUJARAT STATE ELECTRICITY CORPORATION LTD.,BARODA vs. THE DY.CIT, CIRCLE-1(1),, BARODA

In the result, the appeal filed by the Assessee in ITA No

Bench: DR. BRR Kumar (Vice President), Shri T.R. Senthil Kumar (Judicial Member)

deem it expedient to restore the issue back to the file of AO for examining the issue de novo after verifying facts as may be considered necessary and expedient in accordance with law. The AO shall bear in mind the ratio laid down by the Hon'ble Gujarat High Court in the case of Adani Enterprises Ltd. (supra) while adjudicating

THE DCIT, CIRCLE-1(1), NOW CIRCLE-1(1)(1),, BARODA vs. GUJARAT STATE ELECTRICITY CORPORATION LTD.,, BARODA

In the result, the appeal filed by the Assessee in ITA No

Bench: DR. BRR Kumar (Vice President), Shri T.R. Senthil Kumar (Judicial Member)

deem it expedient to restore the issue back to the file of AO for examining the issue de novo after verifying facts as may be considered necessary and expedient in accordance with law. The AO shall bear in mind the ratio laid down by the Hon'ble Gujarat High Court in the case of Adani Enterprises Ltd. (supra) while adjudicating

AXIS BANK LIMITED,AHMEDABAD vs. THE DY.CIT, CIRCLE-1 NOW CIRCLE-1(1)(1), AHMEDABAD

In the result appeal of the Revenue is partly allowed for statistical purposes

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedsl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 311/Ahd/2016 2010-11 Axis Bank Limited, D.C.I.T., “Trishul”, 3Rd Floor, Circle-1(1)(1) Opp. Samtheshwar Ahmedabad. Mahadev Near Law Garden, Ellisbridge, Ahmedabad-380006. Pan: Aaacu2414K 2. 2176/Ahd/2016 2011-12 Axis Bank Limited, D.C.I.T., “Trishul”, 3Rd Floor, Circle-1(1)(1) Opp. Samtheshwar Ahmedabad. Mahadev Near Law Garden, Ellisbridge, Ahmedabad-380006. Pan: Aaacu2414K 3. 2173/Ahd/2016 2011-12 D.C.I.T., Axis Bank Limited, Circle-1(1)(1) Ahmedabad. Ahmedabad. Pan: Aaacu2414K 4. 165/Ahd/2017 2012-13 Axis Bank Limited, D.C.I.T., Ahmedabad. Circle-1(1)(1) Ahmedabad. Pan: Aaacu2414K 5. 287/Ahd/2017 2012-13 D.C.I.T., Axis Bank Limited, Circle-1(1)(1) Ahmedabad. Ahmedabad. Pan: Aaacu2414K 6-7 520 & 2013-14 Axis Bank Limited, D.C.I.T., 521/Ahd/2018 & Ahmedabad. Circle-1(1)(1) 2014-15 Ahmedabad. Pan: Aaacu2414K 8-9 604 & 605/ 2013-14 D.C.I.T., Axis Bank Limited, Ahd/2018 & Circle-1(1)(1) Ahmedabad. 2014-15 Ahmedabad. Pan: Aaacu2414K

depreciation methods, recognition of goodwill, preparation of research and ITA nos.311/Ahd/2016 and 8 others Asstt. Years 2010-11 to 2014-15 23 development (R&D) costs, inventory valuation, and the consolidation of financial accounts. These policies may differ from company to company. It is the management of the company to choose specific accounting policies that are advantageous to the financial

THE DCIT, CIRCLE-1(1)(1),, AHMEDABAD vs. M/S. ASMAN INVESTMENTS LTD., AHMEDABAD

In the result, Ground No.2 of the Revenue’s appeal is dismissed

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad, Judicial Memebr आयकर अपील सं./I.T.A. No. 3138/Ahd/2015 ("नधा"रण वष" / Assessment Year : 2011-12)

dividend amounting to Rs.41,250/-. We find that the issue is squarely covered in favour of the assessee by the decision of the Hon’ble Delhi High Court in the case of Joint Investments Pvt.Ltd. vs. CIT reported in 372 ITR 692 (Delhi) as relied upon on behalf of the assessee. Hon’ble Delhi High Court in the aforesaid decision

THE DCIT, CIRCLE-1(3), AHMEDABAD vs. EDELWEISS FINANCIAL ADVISORS LTD., ( FORMERLY KNOWN ANAGRAM STOCK BROKING LTD.,), AHMEDABAD

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

deemed to arise from the transfer of short-term capital assets. 93. In the backdrop of the stated discussion, first we deal with question No. 1 with respect to both the membership card in seriatim. Regarding the first membership card of the BSE acquired in the year 1995-96, we note that the assessee has not claimed any depreciation thereon

M/S. EDELWEISS BROKING LTD. ( AMALGAMATING COMPANY EDELWEISS FINANCIAL ADVISORS LTD.),AHMEDABAD vs. THE JT. CIT, RANGE-3,, AHMEDABAD

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

deemed to arise from the transfer of short-term capital assets. 93. In the backdrop of the stated discussion, first we deal with question No. 1 with respect to both the membership card in seriatim. Regarding the first membership card of the BSE acquired in the year 1995-96, we note that the assessee has not claimed any depreciation thereon

THE DCIT, CIRCLE-1(3), AHMEDABAD vs. EDELWEISS BROKING LTD., AHMEDABAD

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

deemed to arise from the transfer of short-term capital assets. 93. In the backdrop of the stated discussion, first we deal with question No. 1 with respect to both the membership card in seriatim. Regarding the first membership card of the BSE acquired in the year 1995-96, we note that the assessee has not claimed any depreciation thereon

NIRMA LIMITED,AHMEDABAD vs. THE DY CIT, CIRCLE-5,, AHMEDABAD

In the result appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No. 1187 & 896/Ahd/2013 िनधा"रण वष"/Asstt. Years: 2000-2001 & 2004-2005 Nirma Limited, A.C.I.T., Nirma House, Vs. Circle-5, Ashram Road, Ahmedabad. Ahmedabad.

depreciation in respect of these assets is Rs. 15,27,086/-. The facts available on record clearly indicate that the income of lease rent is not derived from the export turnover or this income has not sprung from export turnover. In view of above, I hold that this income has not sprung from the export activities and accordingly the jappellant