INTAS PHARMACEUTICALS LTD.,AHMEDABAD vs. THE DCIT, CIRCLE-2(1)(1), AHMEDABAD

Accordingly, this ground raised by the Revenue is dismissed

Bench: S/Shri T.R. Senthil Kumar & Makarand V.Mahadeokarasstt.Year : 2015-16 Acit, Cir.2(1)(1) M/S.Intas Pharmaceuticals Ltd Vejalpur Vs Corporate House Ahmedabad. S.G. Highway Nr.Sola Bridge, Thaltej Ahmedabad 380 054. Pan : Aaaci 5120 L Asstt.Year : 2015-16 M/S.Intas Pharmaceuticals Ltd Acit, Cir.2(1)(1) Corporate House Vs Vejalpur S.G. Highway Ahmedabad. Nr.Sola Bridge, Thaltej Ahmedabad 380 054. Pan : Aaaci 5120 L (Applicant) (Responent) : Assessee By Shri S.N. Soparkar, Sr.Advocae & Shri Parin Shah, Ar : Shri Ragnesh Das, Cit-Dr Revenue By सुनवाई क" तारीख/Date Of Hearing : 28/04/2025 घोषणा क" तारीख /Date Of Pronouncement: 21/05/2025 आदेश आदेश/O R D E R आदेश आदेश

1 Transfer Pricing Adjustment on account of interest 15,18,41,720 on advances to AEs 2 Disallowance of Depreciation on Goodwill 2,27,92,50,000 3 Disallowance due to Allocation of Common 10,19,24,003 Expenses (Inter-unit allocation) 4 Disallowance under Section 14A r.w.s. Rule 8D 8,70,747 5

THE ACIT, CIRCLE-2(1)(1), AHMEDABAD vs. M/S. INTAS PHARMACEUTICALS LTD., AHMEDABAD

Accordingly, this ground raised by the Revenue is dismissed

Bench: S/Shri T.R. Senthil Kumar & Makarand V.Mahadeokarasstt.Year : 2015-16 Acit, Cir.2(1)(1) M/S.Intas Pharmaceuticals Ltd Vejalpur Vs Corporate House Ahmedabad. S.G. Highway Nr.Sola Bridge, Thaltej Ahmedabad 380 054. Pan : Aaaci 5120 L Asstt.Year : 2015-16 M/S.Intas Pharmaceuticals Ltd Acit, Cir.2(1)(1) Corporate House Vs Vejalpur S.G. Highway Ahmedabad. Nr.Sola Bridge, Thaltej Ahmedabad 380 054. Pan : Aaaci 5120 L (Applicant) (Responent) : Assessee By Shri S.N. Soparkar, Sr.Advocae & Shri Parin Shah, Ar : Shri Ragnesh Das, Cit-Dr Revenue By सुनवाई क" तारीख/Date Of Hearing : 28/04/2025 घोषणा क" तारीख /Date Of Pronouncement: 21/05/2025 आदेश आदेश/O R D E R आदेश आदेश

1 Transfer Pricing Adjustment on account of interest 15,18,41,720 on advances to AEs 2 Disallowance of Depreciation on Goodwill 2,27,92,50,000 3 Disallowance due to Allocation of Common 10,19,24,003 Expenses (Inter-unit allocation) 4 Disallowance under Section 14A r.w.s. Rule 8D 8,70,747 5

AMBALAL SARABHAI ENTERPRISES LTD.,,BARODA vs. THE DY.COMMISSIONER OF INCOME TAX,CIRCLE-1(1)(1),, BARODA

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

1,85,737 4 Disallowance of 5% 2067/Ahd/2016 2007-08 Revenue 62,355 2 Selling Expenses 16 Adjustment to Book 1594/Ahd/2016 2004-05 Revenue Gratuity: 5 Profit under Section

THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, VADODARA vs. AMBALAL SARABHI ENTERPRISES LIMITED,, VADODARA

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

1,85,737 4 Disallowance of 5% 2067/Ahd/2016 2007-08 Revenue 62,355 2 Selling Expenses 16 Adjustment to Book 1594/Ahd/2016 2004-05 Revenue Gratuity: 5 Profit under Section

AMBALAL SARABHAI ENTERPRISES LTD.,,BARODA vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, BARODA

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

1,85,737 4 Disallowance of 5% 2067/Ahd/2016 2007-08 Revenue 62,355 2 Selling Expenses 16 Adjustment to Book 1594/Ahd/2016 2004-05 Revenue Gratuity: 5 Profit under Section

THE DY.COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, VADODARA vs. AMBALAL SARABHAI ENTERPRISES LIMITED,, VADODARA

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

1,85,737 4 Disallowance of 5% 2067/Ahd/2016 2007-08 Revenue 62,355 2 Selling Expenses 16 Adjustment to Book 1594/Ahd/2016 2004-05 Revenue Gratuity: 5 Profit under Section

THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, VADODARA vs. AMBALAL SARABHI ENTERPRISES LIMITED,, VADODARA

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

1,85,737 4 Disallowance of 5% 2067/Ahd/2016 2007-08 Revenue 62,355 2 Selling Expenses 16 Adjustment to Book 1594/Ahd/2016 2004-05 Revenue Gratuity: 5 Profit under Section

AMBALAL SARABHAI ENTERPRISES LIMITED,,BARODA vs. THE ACIT.,CIRCLE-1(1),, BARODA

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

1,85,737 4 Disallowance of 5% 2067/Ahd/2016 2007-08 Revenue 62,355 2 Selling Expenses 16 Adjustment to Book 1594/Ahd/2016 2004-05 Revenue Gratuity: 5 Profit under Section

AMBALAL SARABHAI ENTERPRISES LIMITED,,BARODA vs. THE ACIT.,CIRCLE-1(1),, BARODA

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

1,85,737 4 Disallowance of 5% 2067/Ahd/2016 2007-08 Revenue 62,355 2 Selling Expenses 16 Adjustment to Book 1594/Ahd/2016 2004-05 Revenue Gratuity: 5 Profit under Section

AMBALAL SARABHAI ENTERPRISES LTD.,,BARODA vs. THE DY. COMMISSIONER OF INCOME TAX-1(1)(1),, BARODA

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

1,85,737 4 Disallowance of 5% 2067/Ahd/2016 2007-08 Revenue 62,355 2 Selling Expenses 16 Adjustment to Book 1594/Ahd/2016 2004-05 Revenue Gratuity: 5 Profit under Section

AMBALAL SARABHAI ENTERPRISES LTD.,,BARODA vs. THE DY. COMMISSIONER OF INCOME TAX-1(1)(1),, BARODA

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं/ िनधा"रण वष"/ Sl. Appeal(S) By :

1,85,737 4 Disallowance of 5% 2067/Ahd/2016 2007-08 Revenue 62,355 2 Selling Expenses 16 Adjustment to Book 1594/Ahd/2016 2004-05 Revenue Gratuity: 5 Profit under Section

GUJARAT GAS TRADIANG CO.LTD.,,AHMEDABAD vs. THE ACIT, CIRCLE-4,, AHMEDABAD

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

Section 14A. He rejected this contention as unacceptable. He noted that though there are no direct expenses, as average investments, yield tax exempt income, are of Rs.46.54 crores, ½% of such expenses must be disallowed under Rule 8D. The admissible disallowance was thus quantified at Rs.23,27,185/-. It was in this backdrop that a further disallowance of Rs.23

THE DCIT, CIRCLE-4,, AHMEDABAD vs. GUJARAT GAS TRADING CO. LTD.,, AHMEDABAD

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

Section 14A. He rejected this contention as unacceptable. He noted that though there are no direct expenses, as average investments, yield tax exempt income, are of Rs.46.54 crores, ½% of such expenses must be disallowed under Rule 8D. The admissible disallowance was thus quantified at Rs.23,27,185/-. It was in this backdrop that a further disallowance of Rs.23

GUJARAT GAS TRADIANG CO.LTD.,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-4(1),, AHMEDABAD

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

Section 14A. He rejected this contention as unacceptable. He noted that though there are no direct expenses, as average investments, yield tax exempt income, are of Rs.46.54 crores, ½% of such expenses must be disallowed under Rule 8D. The admissible disallowance was thus quantified at Rs.23,27,185/-. It was in this backdrop that a further disallowance of Rs.23

THE DCIT, CIRCLE-4,, AHMEDABAD vs. GUJARAT GAS TRADING CO. LTD.,, AHMEDABAD

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

Section 14A. He rejected this contention as unacceptable. He noted that though there are no direct expenses, as average investments, yield tax exempt income, are of Rs.46.54 crores, ½% of such expenses must be disallowed under Rule 8D. The admissible disallowance was thus quantified at Rs.23,27,185/-. It was in this backdrop that a further disallowance of Rs.23

THE DCIT, CIRCLE-4,, AHMEDABAD vs. GUJARAT GAS TRADING CO. LTD.,, AHMEDABAD

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

Section 14A. He rejected this contention as unacceptable. He noted that though there are no direct expenses, as average investments, yield tax exempt income, are of Rs.46.54 crores, ½% of such expenses must be disallowed under Rule 8D. The admissible disallowance was thus quantified at Rs.23,27,185/-. It was in this backdrop that a further disallowance of Rs.23

GUJARAT GAS TRADIANG CO.LTD.,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-4(1),, AHMEDABAD

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

Section 14A. He rejected this contention as unacceptable. He noted that though there are no direct expenses, as average investments, yield tax exempt income, are of Rs.46.54 crores, ½% of such expenses must be disallowed under Rule 8D. The admissible disallowance was thus quantified at Rs.23,27,185/-. It was in this backdrop that a further disallowance of Rs.23

M/S. INOX INDIA LTD.,,BARODA vs. THE PR. CIT-1,, VADODARA

In the result, the appeal is allowed

disallowance made by the Assessing Officer towards export commission paid by the assessee to the non-resident was rightly deleted.' 16. When the transaction does not atract the provisions of Section 9 of the Act, then there is no question of applying Explanation 4 to Section 9 of the Act. Therefore, the Revenue has no case and the Tax Case