THE DY.CIT, CENTRAL CIRCLE-1, VADODARA vs. PAWAN EDIFICE PVT. LTD., VADODARA

Appeals are partly allowed for\nstatistical reasons

section 37(1) of the Act, particularly when the genuineness of\nexpenditure was in doubt. It was held that the possibility of a personal or\nnon-business element in such expenditure could not be ruled out.\nConsequently, 10% of the aggregate amount of site and site development\nexpenses, i.e., Rs.13,47,839/-, was disallowed and added to the total\nincome

DCIT, CIRCLE-1(1)(1), AHMEDABAD vs. ADANI PETRONET (DAHEJ) PORT PVT. LTD, 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

197 and 508/Ahd/2016 dated 31/03/2017 considered Instruction No 3/2010 relied upon by AC and held as under:- "22. So far as this grievance of the assessee is concerned, the relevant material facts are like this. During the course of scrutiny assessment proceedings, the Assessing Officer noticed that the assessee has shown foreign exchange difference income of Rs 1

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

197 and 508/Ahd/2016 dated 31/03/2017 considered Instruction No 3/2010 relied upon by AC and held as under:- "22. So far as this grievance of the assessee is concerned, the relevant material facts are like this. During the course of scrutiny assessment proceedings, the Assessing Officer noticed that the assessee has shown foreign exchange difference income of Rs 1

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

197 and 508/Ahd/2016 dated 31/03/2017 considered Instruction No 3/2010 relied upon by AC and held as under:- "22. So far as this grievance of the assessee is concerned, the relevant material facts are like this. During the course of scrutiny assessment proceedings, the Assessing Officer noticed that the assessee has shown foreign exchange difference income of Rs 1

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

197 and 508/Ahd/2016 dated 31/03/2017 considered Instruction No 3/2010 relied upon by AC and held as under:- "22. So far as this grievance of the assessee is concerned, the relevant material facts are like this. During the course of scrutiny assessment proceedings, the Assessing Officer noticed that the assessee has shown foreign exchange difference income of Rs 1

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

disallowance of Rs.68,00,471/-. (6) The CIT(A)has erred in law and in facts in deleting he addition of Rs.I,72,59,614/- made on account of unutilized CENVAT credits. (7) The CIT(A) has erred in law and in facts in adjustment of Rs. 1,15, I5,902/- u/s 1 I5JB of the Act on account

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

disallowance of Rs.68,00,471/-. (6) The CIT(A)has erred in law and in facts in deleting he addition of Rs.I,72,59,614/- made on account of unutilized CENVAT credits. (7) The CIT(A) has erred in law and in facts in adjustment of Rs. 1,15, I5,902/- u/s 1 I5JB of the Act on account

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

disallowance of Rs.68,00,471/-. (6) The CIT(A)has erred in law and in facts in deleting he addition of Rs.I,72,59,614/- made on account of unutilized CENVAT credits. (7) The CIT(A) has erred in law and in facts in adjustment of Rs. 1,15, I5,902/- u/s 1 I5JB of the Act on account

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

disallowance of Rs.68,00,471/-. (6) The CIT(A)has erred in law and in facts in deleting he addition of Rs.I,72,59,614/- made on account of unutilized CENVAT credits. (7) The CIT(A) has erred in law and in facts in adjustment of Rs. 1,15, I5,902/- u/s 1 I5JB of the Act on account

M/S. FAG BEARINGS INDIA LTD.,BARODA vs. THE ACIT, CIRCLE-1(2),, BARODA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

section or the other. Surely, the legislature cannot run amok in the blind belief that Art. 31A is omnipotent. We will examine the alleged infirmities in due course. It is significant that even apart from the many decisions upholding Art. 31A, Golak Nath's case decided by a Bench of 11 Judges, while holding that the Constitution (First Amendment

M/S. FAG BEARINGS INDIA LTD.,,BARODA vs. THE DY.CIT.,CIRCLE-1(2),, BARODA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

section or the other. Surely, the legislature cannot run amok in the blind belief that Art. 31A is omnipotent. We will examine the alleged infirmities in due course. It is significant that even apart from the many decisions upholding Art. 31A, Golak Nath's case decided by a Bench of 11 Judges, while holding that the Constitution (First Amendment

THE ACIT, CIRCLE-1(2),, BARODA vs. M/S. FAG BEARINGS INDIA LTD.,, VADODARA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

section or the other. Surely, the legislature cannot run amok in the blind belief that Art. 31A is omnipotent. We will examine the alleged infirmities in due course. It is significant that even apart from the many decisions upholding Art. 31A, Golak Nath's case decided by a Bench of 11 Judges, while holding that the Constitution (First Amendment

THE ACIT, CIRCLE-5, AHMEDABAD vs. M/S. NABROS PHARMA LTD., AHMEDABAD

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

section or the other. Surely, the legislature cannot run amok in the blind belief that Art. 31A is omnipotent. We will examine the alleged infirmities in due course. It is significant that even apart from the many decisions upholding Art. 31A, Golak Nath's case decided by a Bench of 11 Judges, while holding that the Constitution (First Amendment

M/S. FAG BEARINGS INDIA LTD.,,BARODA vs. THE CIT-I,, BARODA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

section or the other. Surely, the legislature cannot run amok in the blind belief that Art. 31A is omnipotent. We will examine the alleged infirmities in due course. It is significant that even apart from the many decisions upholding Art. 31A, Golak Nath's case decided by a Bench of 11 Judges, while holding that the Constitution (First Amendment

M/S. FAG BEARINGS INDIA LTD.,,BARODA vs. THE ACIT.,CIRCLE-1(2),(TPO), BARODA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

section or the other. Surely, the legislature cannot run amok in the blind belief that Art. 31A is omnipotent. We will examine the alleged infirmities in due course. It is significant that even apart from the many decisions upholding Art. 31A, Golak Nath's case decided by a Bench of 11 Judges, while holding that the Constitution (First Amendment

TORRENT PHARMACEUTICALS LTD.,,AHMEDABAD vs. ACIT, CIRCLE-4(1)(2),, AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

1 Zao Torrent Pharma 20,51,66,850/- 08-08-2012 28-03-2013 2 Zao Torrent Pharma 15,19,72,500/- 16-11-2011 18-05-2012 55.1 The TPO found that as per the provision of FEMA 1999 and RBI master circular No. 15/2014-15 dated 01-07-2014, the process of allotment of shares/equity instrument shall be completed

TORRENT PHARMACEUTICALS LTD.,,AHMEDABAD vs. THE DEPUTY COMMISSIONER OF INCOME TAX (OSD) CIRCLE-8,, AHMEDABAD

In the result appeal of the Revenue is partly allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita.No.1285 & 1286/Ahd/2017 िनधा"रण वष"/Asstt. Year: 2009-10 & 2010-11 & Ita No.1396 & 1397/Ahd/2018 Asstt.Year 2011-12 & 2012-13 Torrent Pharmaceuticals Ltd. Acit, Circle-4(1)(2) Torrent House Ahmedabad. Vs. Off.Ashram Road Ahmedabad 380 009. आयकर अपील सं./Ita.No.1327 & 1328/Ahd/2017 िनधा"रण वष"/ Asstt. Year: 2009-10 & 2010-11 & आयकर अपील सं./Ita.No.1414 & 1415/Ahd/2018 िनधा"रण वष"/ Asstt. Year: 2011-12 & 2012-13 Acit, Circle-4(1)(2) Torrent Pharmaceuticals Ltd. Ahmedabad. Torrent House Vs. Off.Ashram Road Ahmedabad 380 009. (Applicant) (Responent) Assessee By : Shri Vartik Choksi, With Shri Biren Shah, Ars. Revenue By : Shri Mohd. Usman, Cit-Dr सुनवाई क" तारीख/Date Of Hearing : 23/11/2021 घोषणा क" तारीख /Date Of Pronouncement: 22/02/2022 आदेश/O R D E R Per Bench

section (5) of Section 80-IA. In this case, the question that arose for consideration ITA.Nos.1285/Ahd/2017 & 7 others A.Y.2009-10 38 before this Court related to computation of the profits for the purpose of deduction under section 80-E, as it then existed, after setting off the loss incurred by the assessee in the manufacture of alloy steels. Section

TORRENT POWER LTD.,,AHMEDABAD vs. THE ACIT.,RANGE-8,, AHMEDABAD

In the result cross objection filed by the assessee is partly allowed for statistical purposes

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

disallowing the deduction under section 80-IA of the Act. 69. The learned CIT (A) disregarded the contention of the assessee by observing that the impugned income does not have nexus with the distribution of power activity of the assessee. Thus the learned CIT (A) upheld the finding of the AO. 70. Being aggrieved by the order of the learned

GUJARAT POWER CORPORATION LIMITED,GANDHINAGAR vs. THE PR. CIT, AHMEDABAD-3, AHMEDABAD

In the result, Ground No. 4 of the assessee’s appeal is allowed

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

197,74,06,788/- and earned exempt income of Rs. 1,42,39,767/- from share of profit and debited an amount of Rs. 1,00,000/- as expenses related to exempt income. On perusal of assessment order the PCIT observed that the AO made disallowance under Section