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

disallowed by the AO while determining the book profit under the provision of MAT on account of retrospective amendment effective from 1.4.2001 by the Finance Act No. 2 of 2009. Accordingly the assessee voluntary offer the same to tax during the assessment proceedings. However, the AO has worked out interest u/s 234B and 234C on account of less payment

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

disallowed by the AO while determining the book profit under the provision of MAT on account of retrospective amendment effective from 1.4.2001 by the Finance Act No. 2 of 2009. Accordingly the assessee voluntary offer the same to tax during the assessment proceedings. However, the AO has worked out interest u/s 234B and 234C on account of less payment

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

disallowed by the AO while determining the book profit under the provision of MAT on account of retrospective amendment effective from 1.4.2001 by the Finance Act No. 2 of 2009. Accordingly the assessee voluntary offer the same to tax during the assessment proceedings. However, the AO has worked out interest u/s 234B and 234C on account of less payment

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

disallowed by the AO while determining the book profit under the provision of MAT on account of retrospective amendment effective from 1.4.2001 by the Finance Act No. 2 of 2009. Accordingly the assessee voluntary offer the same to tax during the assessment proceedings. However, the AO has worked out interest u/s 234B and 234C on account of less payment

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

disallowed by the AO while determining the book profit under the provision of MAT on account of retrospective amendment effective from 1.4.2001 by the Finance Act No. 2 of 2009. Accordingly the assessee voluntary offer the same to tax during the assessment proceedings. However, the AO has worked out interest u/s 234B and 234C on account of less payment

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 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

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

disallowance of deduction under section 80-IE of the Act in Sikkim Unit on other incomes. 60. The AO during the assessment proceedings found that the assessee has claimed deduction of profit derived from Sikkim Unit under section 80-IE of the Act. As per the AO, there were certain incomes considered by the assessee eligible for deduction under section

LAMBDA THERAPEUTIC RESEARCH LTD.,,AHMEDABAD vs. DCIT CIRCLE-2(1) (2),, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 14A read with rule 8D of Income Tax Rule. ITA No.3492/Ahd/2015 and 5 others A.Y. 2010-11 44 65. The AO during the assessment proceedings found that the assessee has made huge investments amounting to "59,11,96,725/- which will generate the exempted income. Accordingly, the AO was of the view that the disallowance under section 14A read

LAMBDA THERAPEUTIC RESEARCH LIMITED,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 14A read with rule 8D of Income Tax Rule. ITA No.3492/Ahd/2015 and 5 others A.Y. 2010-11 44 65. The AO during the assessment proceedings found that the assessee has made huge investments amounting to "59,11,96,725/- which will generate the exempted income. Accordingly, the AO was of the view that the disallowance under section 14A read

THE ACIT, CIRCLE-2(1)(2),, AHMEDABAD vs. LAMBDA THERAPEUTIC RESEARCH LTD.,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 14A read with rule 8D of Income Tax Rule. ITA No.3492/Ahd/2015 and 5 others A.Y. 2010-11 44 65. The AO during the assessment proceedings found that the assessee has made huge investments amounting to "59,11,96,725/- which will generate the exempted income. Accordingly, the AO was of the view that the disallowance under section 14A read

LAMBDA THERAPEUTIC RESEARCH LIMITED,,AHMEDABAD vs. THE JT. CIT, RANGE-4,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 14A read with rule 8D of Income Tax Rule. ITA No.3492/Ahd/2015 and 5 others A.Y. 2010-11 44 65. The AO during the assessment proceedings found that the assessee has made huge investments amounting to "59,11,96,725/- which will generate the exempted income. Accordingly, the AO was of the view that the disallowance under section 14A read

THE DCIT, CIRCLE-2(1)(2),, AHMEDABAD vs. M/S. LAMBDA THERAPEUTIC RESEARCH LTD.,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 14A read with rule 8D of Income Tax Rule. ITA No.3492/Ahd/2015 and 5 others A.Y. 2010-11 44 65. The AO during the assessment proceedings found that the assessee has made huge investments amounting to "59,11,96,725/- which will generate the exempted income. Accordingly, the AO was of the view that the disallowance under section 14A read

DY.COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, AHMEDABAD vs. M/S. LAMDA THERAPEUTIC RESEARCH LTD.,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 14A read with rule 8D of Income Tax Rule. ITA No.3492/Ahd/2015 and 5 others A.Y. 2010-11 44 65. The AO during the assessment proceedings found that the assessee has made huge investments amounting to "59,11,96,725/- which will generate the exempted income. Accordingly, the AO was of the view that the disallowance under section 14A read

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

THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1),, BARODA vs. M/S. SUN PHARMACEUTICALS INDUSTRIES LIMITED,, VADODARA

In the result the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

section 35(2AB) of the Act in respect of certain expenses. 30. The assessee during the year has incurred total research and development expenses amounting to Rs. 11,962.75 lacs. But the assessee claimed weighted deduction under section 35(2AB) of the Act in respect of the expenses amounting to Rs. 11,271.35 lacs only. As such the assessee omitted

THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1),, BARODA vs. M/S. SUN PHARMACEUTICALS INDUSTRIES LIMITED,, VADODARA

In the result the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

section 35(2AB) of the Act in respect of certain expenses. 30. The assessee during the year has incurred total research and development expenses amounting to Rs. 11,962.75 lacs. But the assessee claimed weighted deduction under section 35(2AB) of the Act in respect of the expenses amounting to Rs. 11,271.35 lacs only. As such the assessee omitted

SUN PHARMACEUTICALS INDUSTRIES LTD.,,VADODARA vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1)(1),, VADODARA

In the result the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

section 35(2AB) of the Act in respect of certain expenses. 30. The assessee during the year has incurred total research and development expenses amounting to Rs. 11,962.75 lacs. But the assessee claimed weighted deduction under section 35(2AB) of the Act in respect of the expenses amounting to Rs. 11,271.35 lacs only. As such the assessee omitted