SHRI VIJAYBHAI HATHISING SHAH,AHMEDABAD vs. THE PR. CIT-1 , AHMEDABAD

In the result, appeal filed by the Assessee is dismissed

property consisted of a house alongwith land and not merely an open plot of land as claimed by assessee now. Therefore, as on the date of sale of aforesaid lands, assessee was the owner of two residential houses one being Ambali Gam, Tal House and other being Residential Bungalow with book values Rs. 15,73

GIRISH FASHION PVT. LTD.,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-2(1)(1),, AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasadआयकर अपील सं./I.T.A. No.2811/Ahd/2015 ("नधा"रण वष" / Assessment Year : 2012-13)

section 73 of the Income-tax act which itself is based on surmises and presumptions, is not sustainable and deserves to be quashed. 1.2. The Learned Commissioner of Appeals-(2) has failed to appreciate the fact that the appellant principal business is Hotel Business along with business in derivatives trading business in Shares and securities, income from house property

NATIONAL DAIRY DEVELOPMENT BOARD,ANAND vs. THE DY.CIT, ANAND CIRCLE, ANAND

In the result, the appeals filed by the Revenue in ITA Nos

Bench: DR. BRR Kumar, Vice President\nAnd Shri T. R. Senthil Kumar (Judicial Member)

house property\".\n\n27. The next issue for consideration is before us whether the Ld. CIT(A) has erred in facts and in law in allowing the claim of depreciation in respect of other assets leased out by the assessee. Before us, the Ld. D.R. submitted that firstly, the Ld. CIT(A) has not disputed the fact that the assets

CHIRAYU EXIM PVT. LTD.,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-1(1)(3),, AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad, Judicial Memebr आयकर अपील सं./I.T.A. No. 2819/Ahd/2016 ("नधा"रण वष" / Assessment Year : 2013-14)

house property", "Capital gains" and "Income from other sources", or a company the principal business of which is the business of trading in shares or banking or the granting of loans and advances) consists in the purchase and sale of shares of other companies, such company shall, for the purposes of this section, be deemed to be carrying

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

In the result, the appeals filed by the Revenue in ITA Nos

Bench: DR. BRR Kumar (Vice President), Shri T. R. Senthil Kumar (Judicial Member)

house property”. 27. The next issue for consideration is before us whether the Ld. CIT(A) has erred in facts and in law in allowing the claim of depreciation in respect of other assets leased out by the assessee. Before us, the Ld. D.R. submitted that firstly, the Ld. CIT(A) has not disputed the fact that the assets have

NATIONAL DAIRY DEVELOPMENT BOARD,ANAND vs. THE DY.CIT, ANAND CIRCLE, ANAND

In the result, the appeals filed by the Revenue in ITA Nos

Bench: DR. BRR Kumar (Vice President), Shri T. R. Senthil Kumar (Judicial Member)

house property”. 27. The next issue for consideration is before us whether the Ld. CIT(A) has erred in facts and in law in allowing the claim of depreciation in respect of other assets leased out by the assessee. Before us, the Ld. D.R. submitted that firstly, the Ld. CIT(A) has not disputed the fact that the assets have

NATIONAL DAIRY DEVELOPMENT BOARD,ANAND vs. THE DY.CIT, ANAND CIRCLE, ANAND

In the result, the appeals filed by the Revenue in ITA Nos

Bench: DR. BRR Kumar (Vice President), Shri T. R. Senthil Kumar (Judicial Member)

house property”. 27. The next issue for consideration is before us whether the Ld. CIT(A) has erred in facts and in law in allowing the claim of depreciation in respect of other assets leased out by the assessee. Before us, the Ld. D.R. submitted that firstly, the Ld. CIT(A) has not disputed the fact that the assets have

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

In the result, the appeals filed by the Revenue in ITA Nos

Bench: DR. BRR Kumar (Vice President), Shri T. R. Senthil Kumar (Judicial Member)

house property”. 27. The next issue for consideration is before us whether the Ld. CIT(A) has erred in facts and in law in allowing the claim of depreciation in respect of other assets leased out by the assessee. Before us, the Ld. D.R. submitted that firstly, the Ld. CIT(A) has not disputed the fact that the assets have

NATIONAL DAIRY DEVELOPMENT BOARD,ANAND vs. THE DY.CIT, ANAND CIRCLE, ANAND

In the result, the appeals filed by the Revenue in ITA Nos

Bench: DR. BRR Kumar (Vice President), Shri T. R. Senthil Kumar (Judicial Member)

house property”. 27. The next issue for consideration is before us whether the Ld. CIT(A) has erred in facts and in law in allowing the claim of depreciation in respect of other assets leased out by the assessee. Before us, the Ld. D.R. submitted that firstly, the Ld. CIT(A) has not disputed the fact that the assets have

NATIONAL DAIRY DEVELOPMENT BOARD,ANAND vs. THE DY.CIT, ANAND CIRCLE, ANAND

In the result, the appeals filed by the Revenue in ITA Nos

Bench: DR. BRR Kumar (Vice President), Shri T. R. Senthil Kumar (Judicial Member)

house property”. 27. The next issue for consideration is before us whether the Ld. CIT(A) has erred in facts and in law in allowing the claim of depreciation in respect of other assets leased out by the assessee. Before us, the Ld. D.R. submitted that firstly, the Ld. CIT(A) has not disputed the fact that the assets have

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

In the result, the appeals filed by the Revenue in ITA Nos

Bench: DR. BRR Kumar (Vice President), Shri T. R. Senthil Kumar (Judicial Member)

house property”. 27. The next issue for consideration is before us whether the Ld. CIT(A) has erred in facts and in law in allowing the claim of depreciation in respect of other assets leased out by the assessee. Before us, the Ld. D.R. submitted that firstly, the Ld. CIT(A) has not disputed the fact that the assets have

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

In the result, the appeals filed by the Revenue in ITA Nos

Bench: DR. BRR Kumar (Vice President), Shri T. R. Senthil Kumar (Judicial Member)

house property”. 27. The next issue for consideration is before us whether the Ld. CIT(A) has erred in facts and in law in allowing the claim of depreciation in respect of other assets leased out by the assessee. Before us, the Ld. D.R. submitted that firstly, the Ld. CIT(A) has not disputed the fact that the assets have

NATIONAL DAIRY DEVELOPMENT BOARD,ANAND vs. THE DY.CIT, ANAND CIRCLE, ANAND

In the result, the appeals filed by the Revenue in ITA Nos

Bench: DR. BRR Kumar (Vice President), Shri T. R. Senthil Kumar (Judicial Member)

house property”. 27. The next issue for consideration is before us whether the Ld. CIT(A) has erred in facts and in law in allowing the claim of depreciation in respect of other assets leased out by the assessee. Before us, the Ld. D.R. submitted that firstly, the Ld. CIT(A) has not disputed the fact that the assets have

MAGIC SHARE TRADERS LTD.,AHMEDABAD vs. THE ITO, WARD-2(1)(4), AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasadआयकर अपील सं./I.T.A. No. 635/Ahd/2018 ("नधा"रण वष" / Assessment Year: 2014-15) Magic Share Traders Ltd. बनाम/ Ito 101, Akashganga Building, Ward- 2(1)(4) Vs. Nr. Gujarat College Road, Ahmedabad Ellis Bridge, Ahmedabad- 380006 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aae Cm9 542 L .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

section. 5.3 Sec. 73 deals with losses incurred by an assessee in his speculation business. Losses computed in respect of speculation business is not allowed to be set off against income other than speculation income. From the plain reading of the Explanation to sec. 73, it can be seen that the Explanation has introduced a deemed ITA No.635/Ahd/2018 [Magic Share

M/S. EDELWEISS BROKING LTD. ( AMALGAMATING COMPANY EDELWEISS FINANCIAL ADVISORS LTD.),AHMEDABAD vs. THE JT. CIT, RANGE-3,, AHMEDABAD

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

House’ Near H. L. Commerce College, Stadium Road, Navrangpura, Ahmedabad-380009 PAN No. AABCA9956F 3. 268/Ahd/2016 2010-11 Edelweiss Broking Ltd. Jt. CIT, Range-3 (On behalf of Ahmedabd-380015 amalgamating company: Edelweiss Financial Advisors Ltd.) 801-804, 8th Floor, Abhishree Avenue, Opp. Hanumanji Temple, Nehrunagar, Ambawadi, Ahmedabad-380015 PAN No. AABCE9421H PAN No. AABCA2916K 4. 318/Ahd/2016 2011-12 Edelweiss

THE DCIT, CIRCLE-1(3), AHMEDABAD vs. EDELWEISS FINANCIAL ADVISORS LTD., ( FORMERLY KNOWN ANAGRAM STOCK BROKING LTD.,), AHMEDABAD

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

House’ Near H. L. Commerce College, Stadium Road, Navrangpura, Ahmedabad-380009 PAN No. AABCA9956F 3. 268/Ahd/2016 2010-11 Edelweiss Broking Ltd. Jt. CIT, Range-3 (On behalf of Ahmedabd-380015 amalgamating company: Edelweiss Financial Advisors Ltd.) 801-804, 8th Floor, Abhishree Avenue, Opp. Hanumanji Temple, Nehrunagar, Ambawadi, Ahmedabad-380015 PAN No. AABCE9421H PAN No. AABCA2916K 4. 318/Ahd/2016 2011-12 Edelweiss

THE DCIT, CIRCLE-1(3), AHMEDABAD vs. EDELWEISS BROKING LTD., AHMEDABAD

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

House’ Near H. L. Commerce College, Stadium Road, Navrangpura, Ahmedabad-380009 PAN No. AABCA9956F 3. 268/Ahd/2016 2010-11 Edelweiss Broking Ltd. Jt. CIT, Range-3 (On behalf of Ahmedabd-380015 amalgamating company: Edelweiss Financial Advisors Ltd.) 801-804, 8th Floor, Abhishree Avenue, Opp. Hanumanji Temple, Nehrunagar, Ambawadi, Ahmedabad-380015 PAN No. AABCE9421H PAN No. AABCA2916K 4. 318/Ahd/2016 2011-12 Edelweiss

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

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

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

73 ITR 634 (SC), 117 ITR 945 (BOM), 227 ITR 846 (Gau.) and 249 ITR 401 (Oris.). (3) The Id. CIT(A) erred in treating land restoration expenses to the extent of Rs.42,63,517/- as Revenue expenditure despite the same being capital expenditure. (4) The Id. CIT(A) erred in directing the AO to allow Rs.4,66,007/- being

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

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

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

73 ITR 634 (SC), 117 ITR 945 (BOM), 227 ITR 846 (Gau.) and 249 ITR 401 (Oris.). (3) The Id. CIT(A) erred in treating land restoration expenses to the extent of Rs.42,63,517/- as Revenue expenditure despite the same being capital expenditure. (4) The Id. CIT(A) erred in directing the AO to allow Rs.4,66,007/- being