THE TORRENT PHARMACEUTICALS LTD.,,AHMEDABAD vs. THE ACIT.,CIRCLE-8,, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 907/Ahd/2012 2007-08 M/S. Torrent Add. Cit, Pharmaceuticals Ltd., Range – 8, Torrent House, Off. Ahmedabad. Ashram Road, Ahmedabad. Pan No. Aaact 5456 A 2. 938/Ahd/2012 2007-08 The Acit, M/S. Torrent Ahmedabad. Pharmaceuticals Ltd. Ahmedabad. 3. 1634/Ahd/2012 2008-09 M/S. Torrent The Acit, Pharmaceuticals Ltd. Ahmedabad Ahmedabad. 4. 1725/Ahd/2012 2008-09 The Acit M/S. Torrent Ahmedabad. Pharmaceuticals Ltd., Ahmedabad.

house research & development and therefore, the same is not eligible for weighted deduction u/s. 35(2AB) of the Act. Similarly, capitalized interest on purchase of car is also not eligible for this benefit for same reasons because it is equal or similar to cost of car. Hence, this ground is rejected. Being aggrieved by the order of the learned

THE ACIT, CIRCLE-8,, AHMEDABAD vs. THE TORRENT PHARMACEUTICALS, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 907/Ahd/2012 2007-08 M/S. Torrent Add. Cit, Pharmaceuticals Ltd., Range – 8, Torrent House, Off. Ahmedabad. Ashram Road, Ahmedabad. Pan No. Aaact 5456 A 2. 938/Ahd/2012 2007-08 The Acit, M/S. Torrent Ahmedabad. Pharmaceuticals Ltd. Ahmedabad. 3. 1634/Ahd/2012 2008-09 M/S. Torrent The Acit, Pharmaceuticals Ltd. Ahmedabad Ahmedabad. 4. 1725/Ahd/2012 2008-09 The Acit M/S. Torrent Ahmedabad. Pharmaceuticals Ltd., Ahmedabad.

house research & development and therefore, the same is not eligible for weighted deduction u/s. 35(2AB) of the Act. Similarly, capitalized interest on purchase of car is also not eligible for this benefit for same reasons because it is equal or similar to cost of car. Hence, this ground is rejected. Being aggrieved by the order of the learned

THE ACIT,(OSD)CIRCLE-8,, AHMEDABAD vs. THE TORRENT PHARMACEUTICALS LTD.,, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 907/Ahd/2012 2007-08 M/S. Torrent Add. Cit, Pharmaceuticals Ltd., Range – 8, Torrent House, Off. Ahmedabad. Ashram Road, Ahmedabad. Pan No. Aaact 5456 A 2. 938/Ahd/2012 2007-08 The Acit, M/S. Torrent Ahmedabad. Pharmaceuticals Ltd. Ahmedabad. 3. 1634/Ahd/2012 2008-09 M/S. Torrent The Acit, Pharmaceuticals Ltd. Ahmedabad Ahmedabad. 4. 1725/Ahd/2012 2008-09 The Acit M/S. Torrent Ahmedabad. Pharmaceuticals Ltd., Ahmedabad.

house research & development and therefore, the same is not eligible for weighted deduction u/s. 35(2AB) of the Act. Similarly, capitalized interest on purchase of car is also not eligible for this benefit for same reasons because it is equal or similar to cost of car. Hence, this ground is rejected. Being aggrieved by the order of the learned

PRAGNESH AMRUTLAL GAJJAR,AHMEDABAD vs. INCOME TAX OFFICER, WARD 5(3)(2), AHMEDABAD, AHMEDABAD

In the result, the appeal of the assessee is dismissed

Bench: Ms. Suchitra Kambleassessment Year 2019-20

house property 66,264 TOTAL 4,85,607 Accordingly, the total income of appellant was assessed at Rs. 9,61,427/- as against the returned income of Rs. 4,75,820/-. The assessee filed appeal before the CIT(A). The CIT(A) 4. set aside the assessment order to the file of Assessing Officer for fresh assessment

M/S.HDB FINANCIAL SERVICES LTD.,,AHMEDABAD vs. THE PR. CIT-1 , AHMEDABAD

In the result, the appeal filed by the Assessee is hereby allowed

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

264 whose salary is 25,000/-pm Step 3: No. of employees having an effect of 7,099 increase [Opening-Closing) Step 4: Total emolument paid to 7,099 1,09,17,53,327 employees Step 5: 30% of total emouluments 7,099 32,75,25,998 paid to employees In view of the above discussion the claim of deduction

SHRI LAXMANBHAI JIVRAJBHAI PATEL,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-5(3),, AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No. 421/Ahd/2018 ("नधा"रण वष"/Assessment Year : 2013-14 ) बनाम/ Laxmanbhai Jivrajbhai Patel The Dcit M/S.Shree Krishna Vijay Saw Circle-5(3) Vs. Mills Ahmedabad Lati Gbazar Zone-3 Geeta Mandir Ahmedabad-380 022 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Abhpp 3999 H (अपीलाथ"/Appellant) (""यथ" / Respondent) .. अपीलाथ" ओर से/ Appellant By : Shri M.J. Shah, Ar ""यथ" क" ओर से/Respondent By: Shri Nilam Das Gupta, Sr.Dr सुनवाई क" तार"ख/ Date Of Hearing 08/05/2019 घोषणा क" तार"ख /Date Of Pronouncement 17/06/2019 आदेश / O R D E R Per Waseem Ahmed: The Captioned Appeal Has Been Filed At The Instance Of The Assessee Against The Order Of The Commissioner Of Income Tax (Appeals)–5, Ahmedabad [Cit(A) In Short] Vide Appeal No.Cit(A)-5/Dcit Cir.5(3)/10530/2017-18 Dated 08/12/2017 Arising In The Assessment Order Passed Under S.143(3) Of The Income Tax Act, 1961(Hereinafter Referred To As "The Act") Dated 16/02/2016 Relevant To Assessment Year (Ay) 2013-14. 2. The Assessee Has Raised The Following Grounds Of Appeal:- Laxmanbhai Jivrajbhai Patel Vs.Dcit Asst.Year - 2013-14 1. The Cit(Appeals) Erred In Not Granting Deduction Of Rs.94,90,000/- Paid Towards Cancellation Of Banakhat While Computing The Short Term Capital Gains, Which Arose On Sale Of Agricultural Land. The Appellant Reserves Its Right To Add, Amend, Alter Or Modify Any Of The Grounds Stated Hereinabove Either Before Or At The Time Of Hearing. The Only Issue Raised By The Assessee Is That The Ld. Cit (A) Erred In Not Granting The Deduction Amounting To Rs. 94,90,000/- Paid Towards Cancellation Of Banakhat Against The Income Under The Head Capital Gain.

House Property, commission, Capital Gain on sale of land, Interest and Dividend Income. The AO during the assessment proceedings observed that the assessee in the year under consideration had transferred the land situated at Survey No. 917 of village mouje Sanathal dated 23-07-2012 for Rs. 6,48,30,800/-. The land was also held by the other four

THE DCIT, CIRCLE-3(1)(1),, AHMEDABAD vs. M/S. PRIYAL INTERNATIONAL PVT. LTD.,, AHMEDABAD

In the result, appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita.No.91/Ahd/2019 "नधा"रण वष"/Asstt. Year: 2015-16 Dcit, Cir.3(1)(1) M/S. Priyal Internaional P. Ltd. Ahmedabad. 297/300, Phase-Ii, Gidc Vs. Vatva, Ahmedabad. Pan : Aaecp 4640 A (Applicant) (Responent) Assessee By : Shri M.K. Patel, Advocate Revenue By : Shri S.S. Shukla, Sr. Dr सुनवाई क" तार"ख/Date Of Hearing : 04/03/2022 घोषणा क" तार"ख /Date Of Pronouncement: 20/04/2022 आदेश/O R D E R

264,93,976/-. 12.3 The Ld. AO has not appreciated the fact that there are ample interest free funds with the appellant company, amounting to Rs.63,22,59,453/- (Last year Rs.63,76,88,389/-). The finding of such interest free funds are given on Pg. No. 3 para no. 3.2 of Assessment Order, the same is reproduced hereunder: ITA.No

JMC-MSKE(JV),,AHMEDABAD vs. INCOME TAX OFFICER, WARD-5(2)(3),, AHMEDABAD

In the result, appeal filed by the assessee in ITA no

Bench: Us & That These Four

property of the public. The assessee was to maintain at its own cost sufficient experienced supervisory staff required for the work and arrangement of their housing. The assessee was to have the field laboratory for the purpose of testing materials. The assessee has to arrange electric power and water supply. The assessee was also under the obligation to provide traffic

BGSCTPL- MSKEL (JV),AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-5(2)(1),, AHMEDABAD

In the result, appeal filed by the assessee in ITA no

Bench: Us & That These Four

property of the public. The assessee was to maintain at its own cost sufficient experienced supervisory staff required for the work and arrangement of their housing. The assessee was to have the field laboratory for the purpose of testing materials. The assessee has to arrange electric power and water supply. The assessee was also under the obligation to provide traffic

BGSCTPL- MSKEL CONSORTIUM,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-10(1),, AHMEDABAD

In the result, appeal filed by the assessee in ITA no

Bench: Us & That These Four

property of the public. The assessee was to maintain at its own cost sufficient experienced supervisory staff required for the work and arrangement of their housing. The assessee was to have the field laboratory for the purpose of testing materials. The assessee has to arrange electric power and water supply. The assessee was also under the obligation to provide traffic

JMC-MSKE(JV),,AHMEDABAD vs. INCOME TAX OFFICER, WARD-5(2)(3),, AHMEDABAD

In the result, appeal filed by the assessee in ITA no

Bench: Us & That These Four

property of the public. The assessee was to maintain at its own cost sufficient experienced supervisory staff required for the work and arrangement of their housing. The assessee was to have the field laboratory for the purpose of testing materials. The assessee has to arrange electric power and water supply. The assessee was also under the obligation to provide traffic

GUJARAT VENTURE CAPITAL FUND 1995,,AHMEDABAD vs. THE ACIT, CIRCLE-10,, AHMEDABAD

In the result, the appeal of the assessee is allowed

House, Vs. Circle-10, Ashram Road, Ahmedabad Ahmedabad PAN: AAATG2269D (Applicant) (Respondent) : Assessee by Shri S.N. Soparkar & Parin Shah, A.Rs : Revenue by Shri Vinod Tanwani, Sr.DR सुनवाई क" तार"ख/Date of Hearing : 03/01/2019 घोषणा क" तार"ख /Date of Pronouncement: 21/01/2019 आदेश/O R D E R PER WASEEM AHMED, ACCOUNTANT MEMBER: The captioned appeal has been filed

INDIAN MEDICAL ASSOCIATION-GUJARAT STATE BRANCH,AHMEDABAD vs. THE ITO, (EXEMPTIONS), WARD-1,, AHMEDABAD

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri Waseem Ahmed & Shri Siddharatha Nautiyalआयकर अपील सं./Ita No. 326/Ahd/2020 िनधा"रण वष"/Asstt. Year: 2016-2017 Indian Medical Association Gujarat State I.T.O.(Exemptions), Branch, Vs. Ward-1, Ama, 2Nd Floor, Ahmedabad. House, Nr. Natraj Cinema, Gandhigram Rly Crossing, Ahmedabad-380009. Pan: Aaat10762K

House, Nr. Natraj Cinema, Gandhigram Rly Crossing, Ahmedabad-380009. PAN: AAAT10762K (Applicant) (Respondent) Assessee by : Shri A.C. Shah, A.R Revenue by : Shri R.R. Makwana, Sr.D.R सुनवाई क" तारीख/Date of Hearing : 03/06/2022 घोषणा क" तारीख /Date of Pronouncement: 17/06/2022 आदेश/O R D E R PER WASEEM AHMED, ACCOUNTANT MEMBER: The captioned appeal has been filed at the instance

GOLD FINCH JEWELLERY LTD.,,AHMEDABAD vs. THE DCIT, CIRCLE-2(1)(1),, AHMEDABAD

In the result, the appeal filed by the Assessee is allowed

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

section 143(3) of the Act. 16.9 On perusal of the ledgers of the laborers we note that the payment was made by the assessee periodically after the deduction of TDS. Thus, the assessee cannot be penalized if the laborers have raised the bills at the end of the accounting year. 16.10 We also note that the assessee has shown

GOLD FINCH JEWELLERY LTD.,,AHMEDABAD vs. THE DCIT, CIRCLE-2(1)(1),, AHMEDABAD

In the result, the appeal filed by the Assessee is allowed

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

section 143(3) of the Act. 16.9 On perusal of the ledgers of the laborers we note that the payment was made by the assessee periodically after the deduction of TDS. Thus, the assessee cannot be penalized if the laborers have raised the bills at the end of the accounting year. 16.10 We also note that the assessee has shown

DCIT, CENTRAL CIRCLE -1(1),, AHMEDABAD vs. SHRI DEEPAK KUMAR VASWANI,, AHMEDABAD

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

House of Vasibhai Vasrambhai Desai, at village Khadeda, Rabari Vas, Dist. Patan. Sanjeet Motors 6, Saarthi Bungalows Finance P.Ltd. Prernatirth Derasar Road Satellite, Ahmedabad. 17/B/1, Devendra Society Naranpura Ahmedabad. B/6, Pallavi Apartment Opp: Municipal Market C.G.Road Ahmedabad. 3. In order to give logical end to the search, the ld.AO had issued notice under section 153A, 153C

SHRI RAJESH SUNDERDAS VASWANI,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-1(1), AHMEDABAD

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

House of Vasibhai Vasrambhai Desai, at village Khadeda, Rabari Vas, Dist. Patan. Sanjeet Motors 6, Saarthi Bungalows Finance P.Ltd. Prernatirth Derasar Road Satellite, Ahmedabad. 17/B/1, Devendra Society Naranpura Ahmedabad. B/6, Pallavi Apartment Opp: Municipal Market C.G.Road Ahmedabad. 3. In order to give logical end to the search, the ld.AO had issued notice under section 153A, 153C

M/S. VENUS INFRABUILD,AHMEDABAD vs. THE DY.CIT.,CENT.CIRCLE-1(1),, AHMEDABAD

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

House of Vasibhai Vasrambhai Desai, at village Khadeda, Rabari Vas, Dist. Patan. Sanjeet Motors 6, Saarthi Bungalows Finance P.Ltd. Prernatirth Derasar Road Satellite, Ahmedabad. 17/B/1, Devendra Society Naranpura Ahmedabad. B/6, Pallavi Apartment Opp: Municipal Market C.G.Road Ahmedabad. 3. In order to give logical end to the search, the ld.AO had issued notice under section 153A, 153C