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

90. The CIT(A) accepted the assessee’s submission and deleted the disallowance of Rs.8,70,747/- made under section 14A read with Rule 8D. He held that in the absence of any exempt income, the disallowance was ITA No.281 and 222/Ahd/2021 47 not sustainable in law, particularly in light of the binding precedents cited. The CIT(A) also noted

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

90. The CIT(A) accepted the assessee’s submission and deleted the disallowance of Rs.8,70,747/- made under section 14A read with Rule 8D. He held that in the absence of any exempt income, the disallowance was ITA No.281 and 222/Ahd/2021 47 not sustainable in law, particularly in light of the binding precedents cited. The CIT(A) also noted

TORRENT INVESTMENTS LIMITED (FORMERLY KNOWN AS TORRENT INVESTMENTS PRIVATE LIMITED),AHMEDABAD vs. THE PR.CIT, AHMEDABAD-3, AHMEDABAD

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

Bench: Smt. Annapurna Gupta & Shri T.R. Senthil Kumar

Section 14A of the Act. 17. The case of the Ld. PCIT is that the assessment records on verification revealed that the assessee had disallowed an amount of Rs. 64,82,90

GUJARAT STATE FINANCIAL SERVICES LTD.,AHMEDABAD vs. THE DY. CIT, CIRCLE-2(1)(1), AHMEDABAD

In the result, appeal of the assessee is allowed in part

Bench: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinhaassessment Year: 2020-21

Section 14A of the Act but had merely accepted the disallowance as made by the assessee itself. 14. The assessee in his explanation filed before the Assessing Officer had contended that the expenditure attributable to earning of exempt dividend income was Rs.98,872/- only and had requested that the A.Y. 2020-21 Gujarat State Financial Services Ltd. vs. DCIT Page

PAWAN EDIFICE PVT. LTD.,VADODARA vs. THE DY.CIT, CIRCLE-2(1)(2), VADODARA

Appeals are partly allowed for\nstatistical reasons

90,620/- was disallowed and\nadded to the total income. In addition, with respect to soil filling expenses\nof Rs.78,82,000/-, the Assessing Officer made a separate disallowance\ntreating the same as capital in nature. In first appeal, the learned CIT(A)\nrestricted this disallowance to Rs.7,88,200/- on the ground of lack of\nsupporting documentation, against which

PAWAN EDIFICE PVT. LTD.,VADODARA vs. THE DY.CIT, CIRCLE-2(1)(2), VADODARA

90,620/- was disallowed and\nadded to the total income. In addition, with respect to soil filling expenses\nof Rs. 78,82,000/-, the Assessing Officer made a separate disallowance\ntreating the same as capital in nature. In first appeal, the learned CIT(A)\nrestricted this disallowance to Rs. 7,88,200/- on the ground of lack of\nsupporting documentation

LOK PRAKASHAN LIMITED,AHMEDABAD vs. ACIT, CENTRAL CIRCLE-1(3),, AHMEDABAD

The appeal of the Revenue is dismissed accordingly

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita Nos.290 & 291/Ahd/2023 िनधा"रण वष" /Assessment Years : 2017-18 & 2018-19 Respectively Lok Prakashan Limited The Acit बनाम/ Gujarat Samachar Bhavan Central Circle-1(3) V/S. J.P. Chowk, Khanpur Ahmedabad – 380 009 Ahmedabad – 380 001 (अपीलाथ%/ Appellant) ('( यथ%/ Respondent) "थायी लेखा सं./Pan: Aaacl 2742 F

Section Earned in Rs. 14A in Rs. Self- 20,69,043/- 20,03,321/- Disallowance by Assessee AO's Calculation 17,37,10,409/- 24,52,39,198/- of Disallowance (Rule 8D) Additional 17,16,41,366/- 24,32,35,877/- Disallowance by AO CIT(A) Decision Partly allowed; directed recalculation per Rule 8D excluding investments not earning exempt income

LOK PRAKASHAN LIMITED,AHMEDABAD vs. ACIT, CENTRAL CIRCLE-1(3),, AHMEDABAD

The appeal of the Revenue is dismissed accordingly

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita Nos.290 & 291/Ahd/2023 िनधा"रण वष" /Assessment Years : 2017-18 & 2018-19 Respectively Lok Prakashan Limited The Acit बनाम/ Gujarat Samachar Bhavan Central Circle-1(3) V/S. J.P. Chowk, Khanpur Ahmedabad – 380 009 Ahmedabad – 380 001 (अपीलाथ%/ Appellant) ('( यथ%/ Respondent) "थायी लेखा सं./Pan: Aaacl 2742 F

Section Earned in Rs. 14A in Rs. Self- 20,69,043/- 20,03,321/- Disallowance by Assessee AO's Calculation 17,37,10,409/- 24,52,39,198/- of Disallowance (Rule 8D) Additional 17,16,41,366/- 24,32,35,877/- Disallowance by AO CIT(A) Decision Partly allowed; directed recalculation per Rule 8D excluding investments not earning exempt income

DCIT, CENTRAL CIRCLE- 1(3), AHMEDABAD vs. M/S LOK PRAKASHAN LTD., AHMEDABAD

The appeal of the Revenue is dismissed accordingly

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita Nos.290 & 291/Ahd/2023 िनधा"रण वष" /Assessment Years : 2017-18 & 2018-19 Respectively Lok Prakashan Limited The Acit बनाम/ Gujarat Samachar Bhavan Central Circle-1(3) V/S. J.P. Chowk, Khanpur Ahmedabad – 380 009 Ahmedabad – 380 001 (अपीलाथ%/ Appellant) ('( यथ%/ Respondent) "थायी लेखा सं./Pan: Aaacl 2742 F

Section Earned in Rs. 14A in Rs. Self- 20,69,043/- 20,03,321/- Disallowance by Assessee AO's Calculation 17,37,10,409/- 24,52,39,198/- of Disallowance (Rule 8D) Additional 17,16,41,366/- 24,32,35,877/- Disallowance by AO CIT(A) Decision Partly allowed; directed recalculation per Rule 8D excluding investments not earning exempt income

DCIT, CENTRAL CIRCLE - 1(3), AHMEDABAD vs. M/S LOK PRAKASHAN LTD., AHMEDABAD

The appeal of the Revenue is dismissed accordingly

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita Nos.290 & 291/Ahd/2023 िनधा"रण वष" /Assessment Years : 2017-18 & 2018-19 Respectively Lok Prakashan Limited The Acit बनाम/ Gujarat Samachar Bhavan Central Circle-1(3) V/S. J.P. Chowk, Khanpur Ahmedabad – 380 009 Ahmedabad – 380 001 (अपीलाथ%/ Appellant) ('( यथ%/ Respondent) "थायी लेखा सं./Pan: Aaacl 2742 F

Section Earned in Rs. 14A in Rs. Self- 20,69,043/- 20,03,321/- Disallowance by Assessee AO's Calculation 17,37,10,409/- 24,52,39,198/- of Disallowance (Rule 8D) Additional 17,16,41,366/- 24,32,35,877/- Disallowance by AO CIT(A) Decision Partly allowed; directed recalculation per Rule 8D excluding investments not earning exempt income

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

Appeals are partly allowed for\nstatistical reasons

90,620/- was disallowed and\nadded to the total income. In addition, with respect to soil filling expenses\nof Rs.78,82,000/-, the Assessing Officer made a separate disallowance\ntreating the same as capital in nature. In first appeal, the learned CIT(A)\nrestricted this disallowance to Rs.7,88,200/- on the ground of lack of\nsupporting documentation, against which

THE ACIT,ANAND CIRCLE,, ANAND vs. NATIONAL DAIRY DEVELOPMENT BOARD, ANAND

In the result, Ground No. 7 of the assessee’s appeal is allowed for statistical purposes

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

disallowance of deduction u/s. 36(1)(viii) for Rs.79,90,00,000? b) Whether, on the facts and in the circumstances of the case, the Hon'ble High Court erred, in holding that ‘dairying’ is not industry or agricultural, development or development, of industrial facility for the purpose of Section

NATIONAL DAIRY DEVELOPMENT BOARD,,ANAND vs. THE ACIT.,ANAND CIRCLE,, ANAND

In the result, Ground No. 7 of the assessee’s appeal is allowed for statistical purposes

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

disallowance of deduction u/s. 36(1)(viii) for Rs.79,90,00,000? b) Whether, on the facts and in the circumstances of the case, the Hon'ble High Court erred, in holding that ‘dairying’ is not industry or agricultural, development or development, of industrial facility for the purpose of Section

THE DY.COMMISSIONER OF INCOME TAX.,ANAND CIRCLE,, ANAND vs. NATIONAL DAIRY DEVELOPMENT BOARD, ANAND

In the result, Ground No. 7 of the assessee’s appeal is allowed for statistical purposes

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

disallowance of deduction u/s. 36(1)(viii) for Rs.79,90,00,000? b) Whether, on the facts and in the circumstances of the case, the Hon'ble High Court erred, in holding that ‘dairying’ is not industry or agricultural, development or development, of industrial facility for the purpose of Section

NATIONAL DAIRY DEVELOPMENT BOARD,,ANAND vs. THE ASSTT. COMMISSIONER OF INCOME TAX, ANAND CIRCLE,, ANAND

In the result, Ground No. 7 of the assessee’s appeal is allowed for statistical purposes

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

disallowance of deduction u/s. 36(1)(viii) for Rs.79,90,00,000? b) Whether, on the facts and in the circumstances of the case, the Hon'ble High Court erred, in holding that ‘dairying’ is not industry or agricultural, development or development, of industrial facility for the purpose of 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 :

90,262 6 1291/Ahd/2016 2006-07 Assessee 5,315 3 1783/Ahd/2016 2007-08 Assessee 1,96,130 3 9 Deletion of 2066/Ahd/2016 2005-06 Revenue 9,49,096 3 Disallowance of Other Penalties (Contractual Obligation) 1290/Ahd/2016 2004-05 Assessee 1,29,080 4 10 Disallowance u/s 14A 1772/Ahd/2015 2002-03 Assessee 6 33,75,000 11 Disallowance relating 1290/Ahd/2016

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 :

90,262 6 1291/Ahd/2016 2006-07 Assessee 5,315 3 1783/Ahd/2016 2007-08 Assessee 1,96,130 3 9 Deletion of 2066/Ahd/2016 2005-06 Revenue 9,49,096 3 Disallowance of Other Penalties (Contractual Obligation) 1290/Ahd/2016 2004-05 Assessee 1,29,080 4 10 Disallowance u/s 14A 1772/Ahd/2015 2002-03 Assessee 6 33,75,000 11 Disallowance relating 1290/Ahd/2016

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 :

90,262 6 1291/Ahd/2016 2006-07 Assessee 5,315 3 1783/Ahd/2016 2007-08 Assessee 1,96,130 3 9 Deletion of 2066/Ahd/2016 2005-06 Revenue 9,49,096 3 Disallowance of Other Penalties (Contractual Obligation) 1290/Ahd/2016 2004-05 Assessee 1,29,080 4 10 Disallowance u/s 14A 1772/Ahd/2015 2002-03 Assessee 6 33,75,000 11 Disallowance relating 1290/Ahd/2016

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 :

90,262 6 1291/Ahd/2016 2006-07 Assessee 5,315 3 1783/Ahd/2016 2007-08 Assessee 1,96,130 3 9 Deletion of 2066/Ahd/2016 2005-06 Revenue 9,49,096 3 Disallowance of Other Penalties (Contractual Obligation) 1290/Ahd/2016 2004-05 Assessee 1,29,080 4 10 Disallowance u/s 14A 1772/Ahd/2015 2002-03 Assessee 6 33,75,000 11 Disallowance relating 1290/Ahd/2016