THE DCIT, CIRCLE-1(1)(1), AHMEDABAD vs. M/S. ADANI ENTERPRISE LTD, AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

35D(2)(c)(iv) of the Act. Hence the ground of appeal of the assessee is allowed whereas the ground of appeal of the revenue is by dismissed. 61.1 In view of the above finding in own case of the assessee for A.Y. 2011-12 we hereby set aside the finding of the learned CIT(A) and direct

DCIT, CIRCLE-1(1)(1),, AHMEDABAD vs. ADANI ENTERPRISES LTD., AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

35D(2)(c)(iv) of the Act. Hence the ground of appeal of the assessee is allowed whereas the ground of appeal of the revenue is by dismissed. 61.1 In view of the above finding in own case of the assessee for A.Y. 2011-12 we hereby set aside the finding of the learned CIT(A) and direct

DCIT, CIRCLE-1(1)(1),, AHMEDABAD vs. ADANI ENTERPRISES LTD., AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

35D(2)(c)(iv) of the Act. Hence the ground of appeal of the assessee is allowed whereas the ground of appeal of the revenue is by dismissed. 61.1 In view of the above finding in own case of the assessee for A.Y. 2011-12 we hereby set aside the finding of the learned CIT(A) and direct

BRIGHT AUTOPLAST LTD.,,AHMEDABAD vs. ASSTT. CIT,CIRCLE-1(1)(1),, AHMEDABAD

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

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedsl.

section 35D(2)(c)( iv) of the Act. The Hon'ble Supreme Court in the case of Punjab State Industrial Development Corporation Ltd. (supra) and Brooke Bond India Ltd. (supra) was, however, dealing with a different situation, namely, as to whether the fee paid to RoC is a capital expenditure or revenue expenditure. We, therefore, see no conflict between

THE DCIT, CIRCLE-1(1)(1),, VADODARA vs. M/S. CAMPHOR & ALLIED PRODUCTS LTD.,, VADODARA

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

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No. 598/Ahd/2017 िनधा"रण वष"/Asstt. Year: 2013-2014 D.C.I.T., M/S Camphor & Allied Products Ltd., Circle-1(1)(1), Vs. Plot No.3, Vadodara. Gidc Industrial Estate, Nandesari, Vadodara-391340. Pan: Aaacc9211E

depreciation to 25%. 2. On the facts and in the circumstances of the case and in law, the Ld. C!T(A) erred in [aw and on fact in deleting the capitalization of preliminary expenses written off u/s 35D of the Act, without appreciating the fact that the preoperative expenses can be amortized only after the asset is capitalized

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

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

Section 92(1) provides that, "(a)ny income arising from an international transaction shall be computed having regard to the arm's length price". In order to attract the arm's length price adjustment, therefore, a transaction has to be an 'international transaction' first. The expression 'international transaction' is a defined expression. Section 92 B defines the expression 'international transaction

AIA ENGINEERING LTD.,,AHMEDABAD vs. THE DY.CIT.,CIRCLE-1,, AHMEDABAD

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

Section 92(1) provides that, "(a)ny income arising from an international transaction shall be computed having regard to the arm's length price". In order to attract the arm's length price adjustment, therefore, a transaction has to be an 'international transaction' first. The expression 'international transaction' is a defined expression. Section 92 B defines the expression 'international transaction

THE ACIT.(OSD), CIRCLE-1,, AHMEDABAD vs. KHURANA ENGINEERING LTD.,, AHMEDABAD

Bench: Shri Ramit Kochar & Ms. Madhumita Roya.Y. 2007-08

depreciation in respect of such machinery or plant has been allowed or is allowable under the provisions of this Act in computing the total income of any person for any period prior to the date of the installation of machinery or plant by the assessee. Explanation 2.—Where in the case of an 46[undertaking], any machinery or plant

KHURANA ENGINEERING LTD.,,AHMEDABAD vs. THE ACIT.(OSD),CIRCLE-1,, AHMEDABAD

Bench: Shri Ramit Kochar & Ms. Madhumita Roya.Y. 2007-08

depreciation in respect of such machinery or plant has been allowed or is allowable under the provisions of this Act in computing the total income of any person for any period prior to the date of the installation of machinery or plant by the assessee. Explanation 2.—Where in the case of an 46[undertaking], any machinery or plant

THE ACIT.(OSD), CIRCLE-1,, AHMEDABAD vs. KHURANA ENGINEERING LTD.,, AHMEDABAD

Bench: Shri Ramit Kochar & Ms. Madhumita Roya.Y. 2007-08

depreciation in respect of such machinery or plant has been allowed or is allowable under the provisions of this Act in computing the total income of any person for any period prior to the date of the installation of machinery or plant by the assessee. Explanation 2.—Where in the case of an 46[undertaking], any machinery or plant

THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, AHMEDABAD vs. M/S. APPLITECH SOLUTIONS LTD.,, AHMEDABAD

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed)

section has been enacted to provide for a remedy for loss of revenue and that wiliful concealment is not an essential ingredient for attracting civil liability as u/s. 271(1)(c) of the Act. 3.5 In view of the decisions discussed above, it clearly emerges that in case any where any particular filed in the return of income

M/S. GUJARAT INDUSTRIAL INVESTMENT CORPORATION,GANDHINAGAR vs. THE DY.CIT.,GANDHINAGAR CIRCLE,, GANDHINAGAR

Appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

C) Rs.6,25,83,251 III 5% of the average value of investment Rs.84,81,427 on which tax free income is received or receivable. IV Total Rs.7,10,64,678 3.4 In view of the above, AO disallowed expense of Rs. 7,10,64,678/- under the provision of section 14A of the Act and added to the total

THE DCITGANDHINAGAR CIRCLE,, GANDHINAGAR vs. M/S. GUJARAT INDUSTRIAL INVESTMENT CORPORATION, GANDHINAGAR

Appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

C) Rs.6,25,83,251 III 5% of the average value of investment Rs.84,81,427 on which tax free income is received or receivable. IV Total Rs.7,10,64,678 3.4 In view of the above, AO disallowed expense of Rs. 7,10,64,678/- under the provision of section 14A of the Act and added to the total

M/S. GUJARAT INDUSTRIAL INVESTMENT CORPORATION LTD.,GANDHINAGAR vs. THE JT.CIT.,GNR RANGE,, GANDHINAGAR

Appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

C) Rs.6,25,83,251 III 5% of the average value of investment Rs.84,81,427 on which tax free income is received or receivable. IV Total Rs.7,10,64,678 3.4 In view of the above, AO disallowed expense of Rs. 7,10,64,678/- under the provision of section 14A of the Act and added to the total

THE ACIT,GNR CIRCLE,, GANDHINAGAR vs. M/S. GUJARAT INDUSTRIAL INVESTMENT CORPORATION LTD., GANDHINAGAR

Appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

C) Rs.6,25,83,251 III 5% of the average value of investment Rs.84,81,427 on which tax free income is received or receivable. IV Total Rs.7,10,64,678 3.4 In view of the above, AO disallowed expense of Rs. 7,10,64,678/- under the provision of section 14A of the Act and added to the total

M/S. GUJARAT INDUSTRIAL INVESTMENT CORPORATION LTD.,GANDHINAGAR vs. THE ADDL.CIT.,GANDHINAGAR CIRCLE,, GANDHINAGAR

Appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

C) Rs.6,25,83,251 III 5% of the average value of investment Rs.84,81,427 on which tax free income is received or receivable. IV Total Rs.7,10,64,678 3.4 In view of the above, AO disallowed expense of Rs. 7,10,64,678/- under the provision of section 14A of the Act and added to the total

THE ACIT,GNR CIRCLE,, GANDHINAGAR vs. M/S. GUJARAT INDUSTRIAL INVESTMENT CORPORATION LTD., GANDHINAGAR

Appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

C) Rs.6,25,83,251 III 5% of the average value of investment Rs.84,81,427 on which tax free income is received or receivable. IV Total Rs.7,10,64,678 3.4 In view of the above, AO disallowed expense of Rs. 7,10,64,678/- under the provision of section 14A of the Act and added to the total

ADANI PETRONET( DAHEJ) PORT PVT. LTD.,,AHMEDABAD vs. THE DY.COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1), AHMEDABAD

In the result, the appeal of the Revenue for AY 2014-15 and CO of the assessee for AY 2013-14 are treated as partly allowed

Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyalassessment Year : 2012-13 Adani Petronet (Dahej) Port The Dy. Commissioner Of Pvt. Ltd., Vs Income-Tax, 9Th Floor, Shikhar Building, Circle 1(1)(1), Nr. Mithakali Circle, Ahmedabad Navrangpura, Ahmedabad-380009 Pan: Aaeca 5046 R Assessment Year : 2012-13 The Dy. Commissioner Of Adani Petronet (Dahej) Port Income-Tax, Vs Pvt. Ltd., Circle 1(1)(1), Ahmedabad-380009 Ahmedabad Pan: Aaeca 5046 R

C" Special Bench, Mumbai in the case of DCIT vs. M/s. Bank of Bahrain & Kuwait (ITA No.4404 & 1883/Mum/2004) is squarely applicable to the appellant company. 8.7 The loss incurred by the appellant company on account of evaluation of contract on the last day of accounting year i.e. before the date of maturity of forward contract be allowed as business loss