CORRTECH INTERNATIONAL PVT. LTD.,AHMEDABAD vs. THE ADDL. CIT, TDS RANGE,, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

house property income, when the assessee claimed expenses relevant to leased out property as business expenditure as pointed out by the AO in the order, which resulted in double deduction. 3. The CIT(A) has erred in law and on facts in deleting the disallowance of interest expenses to the extent of Rs.51,10,672/- despite the fact that

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(2),, AHMEDABAD vs. M/S. CORRTECH INTERNATIONAL PVT. LTD.,, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

house property income, when the assessee claimed expenses relevant to leased out property as business expenditure as pointed out by the AO in the order, which resulted in double deduction. 3. The CIT(A) has erred in law and on facts in deleting the disallowance of interest expenses to the extent of Rs.51,10,672/- despite the fact that

CORRTECH INTERNATIONAL PVT.LTD.,,AHMEDABAD vs. DY. COMMISSIONER OF INCOME TAX,(OSD),, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

house property income, when the assessee claimed expenses relevant to leased out property as business expenditure as pointed out by the AO in the order, which resulted in double deduction. 3. The CIT(A) has erred in law and on facts in deleting the disallowance of interest expenses to the extent of Rs.51,10,672/- despite the fact that

THE DCIT(OSD) RANGE-1,, AHMEDABAD vs. M/S. CORRTECH INTERNATIONAL PVT.LTD.,, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

house property income, when the assessee claimed expenses relevant to leased out property as business expenditure as pointed out by the AO in the order, which resulted in double deduction. 3. The CIT(A) has erred in law and on facts in deleting the disallowance of interest expenses to the extent of Rs.51,10,672/- despite the fact that

CORRTECH INTERNATIONAL PVT.LTD.,,AHMEDABAD vs. THE ACIT.,(OSD) RANGE-1,, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

house property income, when the assessee claimed expenses relevant to leased out property as business expenditure as pointed out by the AO in the order, which resulted in double deduction. 3. The CIT(A) has erred in law and on facts in deleting the disallowance of interest expenses to the extent of Rs.51,10,672/- despite the fact that

THE DCIT(OSD) RANGE-1,, AHMEDABAD vs. M/S. CORRTECH INTERNATIONAL PVT.LTD.,, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

house property income, when the assessee claimed expenses relevant to leased out property as business expenditure as pointed out by the AO in the order, which resulted in double deduction. 3. The CIT(A) has erred in law and on facts in deleting the disallowance of interest expenses to the extent of Rs.51,10,672/- despite the fact that

CORRTECH INTERNATIONAL PVT.LTD.,,AHMEDABAD vs. THE ACIT.,(OSD)RANGE-1,, AHMEDABAD

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

house property income, when the assessee claimed expenses relevant to leased out property as business expenditure as pointed out by the AO in the order, which resulted in double deduction. 3. The CIT(A) has erred in law and on facts in deleting the disallowance of interest expenses to the extent of Rs.51,10,672/- despite the fact that

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

properties of the company including manufacturing facilities, research facilities and office premises. v. A minimum fixed asset cover of 1.1 times over these assets. vi. Net debt / EBIDTA to be not more than 4.5 times vii. Debt gearing not to exceed 1.65 times during the currency of facility. viii. Debt service cover ratio shall not be less than 1.33 times

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

House, Nr. D.C.I.T, Mithakhali Six Roads, 7 No.523/Ahd/2020 2016-17 Circle-1(1)(1), Navrangpura, Ahmedabad Ahmedabad. PAN :AABCA2804L (Applicant) (Responent) : Shri Alok Kumar, C.I.T.DR Revenue by : Shri Vartik Choksi, A.R. Assessee by ITA No.285/Ahd/2020 with C.O No.81/Ahd/2020 and 5 others A.Y. 2013-14 & Ors. 2 सुनवाई क" तार"ख/Date of Hearing : 05/08/2022 घोषणा क" तार"ख /Date

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

House, Nr. D.C.I.T, Mithakhali Six Roads, 7 No.523/Ahd/2020 2016-17 Circle-1(1)(1), Navrangpura, Ahmedabad Ahmedabad. PAN :AABCA2804L (Applicant) (Responent) : Shri Alok Kumar, C.I.T.DR Revenue by : Shri Vartik Choksi, A.R. Assessee by ITA No.285/Ahd/2020 with C.O No.81/Ahd/2020 and 5 others A.Y. 2013-14 & Ors. 2 सुनवाई क" तार"ख/Date of Hearing : 05/08/2022 घोषणा क" तार"ख /Date

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

House, Nr. D.C.I.T, Mithakhali Six Roads, 7 No.523/Ahd/2020 2016-17 Circle-1(1)(1), Navrangpura, Ahmedabad Ahmedabad. PAN :AABCA2804L (Applicant) (Responent) : Shri Alok Kumar, C.I.T.DR Revenue by : Shri Vartik Choksi, A.R. Assessee by ITA No.285/Ahd/2020 with C.O No.81/Ahd/2020 and 5 others A.Y. 2013-14 & Ors. 2 सुनवाई क" तार"ख/Date of Hearing : 05/08/2022 घोषणा क" तार"ख /Date

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

House, Nr. D.C.I.T, Mithakhali Six Roads, 7 No.523/Ahd/2020 2016-17 Circle-1(1)(1), Navrangpura, Ahmedabad Ahmedabad. PAN :AABCA2804L (Applicant) (Responent) : Shri Alok Kumar, C.I.T.DR Revenue by : Shri Vartik Choksi, A.R. Assessee by ITA No.285/Ahd/2020 with C.O No.81/Ahd/2020 and 5 others A.Y. 2013-14 & Ors. 2 सुनवाई क" तार"ख/Date of Hearing : 05/08/2022 घोषणा क" तार"ख /Date

ADANI ENTERPRISES LTD.,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, AHMEDABAD

Appeal of the Revenue is hereby dismissed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedasstt. Sr.No.

House, Nr. No.2030/Ahd/2016 2011-12 D.C.I.T, Mithakhali Six Roads, 3-4 & & Circle-1(1)(1), Navrangpura, No.913/Ahd/2018 2012-13 Ahmedabad Ahmedabad. PAN :AABCA2804L (Applicant) (Responent) Assessee by : Shri S.N. Soparkar, Sr. Advocate with Shri Vartik Choksi, A.R Shri Parin Shah, A.R Revenue by : Shri Mohd. Usman, C.I.T.DR सुनवाई क" तारीख/Date of Hearing : 20/04/2022 घोषणा क" तारीख /Date of Pronouncement

ROMABEN KEYUR THAKORE LEGAL HEIR OF LATE ANANDIBEN JITENDRABHAI SHAH,VADODARA vs. THE DY.CIT, CIRCLE-1(1)(1), VADODARA

In the result the appeal filed by the assessee is allowed

Bench: The Ld.Cit(A), Who Has Confirmed The Disallowance Made By The Assessing Officer By Observing As Follows:

C” BENCH Before: DR. BRR Kumar, Vice President And Shri T. R. Senthil Kumar, Judicial Member ITA No: 2605/Ahd/2025 Assessment Year: 2015-16 Romaben Keyur Thakore The DCIT, Legal heir of Late Anandiben Circle-1(1)(1), Jitendrabhai Shah, Vs Vadodara. 11/A Saimy Society, Subhanpura, Vadodara-390023. PAN: AFOPS8299C (Appellant) (Respondent) Assessee Represented: Shri Prashant Upadhyay, AR Revenue Represented: Shri

SHRI JAYDEEPSINH VAJESINH DODIYA,,AHMEDABAD vs. THE JT. C.I.T., RANGE-7(1),, AHMEDABAD

In the result, Ground number 2 of the assessee’s appeal is party allowed

275(1)(c) of the Act. The counsel reliance placed on several cases in support of this contention. We have perused the case law submitted by the assessee, however, we are unable to agree with the contention of the assessee that the order u/s 271D of the Act is barred by limitation. The case laws cited by the assessee

JT.CIT.(OSD),CIRCLE-1(1)(1),, AHMEDABAD vs. AXIS BANK LIMITED,, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No. 852/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2015-2016 Axis Bank Limited, J.C.I.T., “Trishul”, 3Rd Floor, Vs. Circle-1(1)(1), Opp. Samtheshwar Mahadev, Ahmedabad. Near Law Garden, Ellisbridge, Ahmedabad-380006. Pan: Aaacu2414K

c. ITC Limited vs. ACIT (ITA No.685/Kol/2014 order dated 27-11-2018] d. The Peerless General Finance & Investment Co. Ltd. Vs. DCIT (ITA No. 937 & 938/Kol/2018 order dated 24-04-2019). e. DCIT vs. Bajaj Allianz General Insurance Company Ltd [ITANos.Hll & 1112/PUN/2017 order dated 25-07-2019) f. Atlas Copco (India) Limited vs. ACIT (ITA No.736 8. 732/PUN/2011 order dated

AXIS BANK LIMITED,,AHMEDABAD vs. JT.CIT.,CIRCLE-1(1)(1),, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No. 852/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2015-2016 Axis Bank Limited, J.C.I.T., “Trishul”, 3Rd Floor, Vs. Circle-1(1)(1), Opp. Samtheshwar Mahadev, Ahmedabad. Near Law Garden, Ellisbridge, Ahmedabad-380006. Pan: Aaacu2414K

c. ITC Limited vs. ACIT (ITA No.685/Kol/2014 order dated 27-11-2018] d. The Peerless General Finance & Investment Co. Ltd. Vs. DCIT (ITA No. 937 & 938/Kol/2018 order dated 24-04-2019). e. DCIT vs. Bajaj Allianz General Insurance Company Ltd [ITANos.Hll & 1112/PUN/2017 order dated 25-07-2019) f. Atlas Copco (India) Limited vs. ACIT (ITA No.736 8. 732/PUN/2011 order dated

CADILA HEALTHCARE LTD.,,AHMEDABAD vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(2),, AHMEDABAD

In the result, the appeal for the assessment year 2013-14 is also partly allowed in the terms indicated above

275 ZIPL Total 9,97,52,304 ITA Nos. 954/Ahd/17 and 213/Ahd/18 Assessment years: 2012-13 and 2013-14 Page 17 of 85 7.6 In light of the above discussion, an upward adjustment of Rs. 9,97,52,304/- is required to be made to the income of the assessee company on account of the optionally convertible loans given