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

section 14A is not applicable to the appellant as the investments in securities yielding tax free income were made from own funds of the appellant and no expenses are incurred in relation to earn the exempt income. 4.2. The Hon'ble CIT(A) has erred in law in confirming the application of Rule 8D, where the AO has not brought

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

section 14A is not applicable to the appellant as the investments in securities yielding tax free income were made from own funds of the appellant and no expenses are incurred in relation to earn the exempt income. 4.2. The Hon'ble CIT(A) has erred in law in confirming the application of Rule 8D, where the AO has not brought

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' instead of “business income” and disallowance of depreciation on building\n• Disallowance of deduction of interest paid to North Kerala Project Development Fund\n• Disallowance of contribution to Employee's Recreation (BOHO Club)\n• Disallowance of payment of monthly benefit to employees under VRS scheme after retirement – Section 35DDA, Section 37(1)\n• Applicability of MAT u/s 115JB

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)

8D  Taxing of rental income from building as ‘Income from House Property’ instead of “business income” and disallowance of depreciation on building  Disallowance of deduction of interest paid to North Kerala Project Development Fund  Disallowance of contribution to Employee’s Recreation (BOHO Club)  Disallowance of payment of monthly benefit to employees under VRS scheme after retirement – Section

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)

8D  Taxing of rental income from building as ‘Income from House Property’ instead of “business income” and disallowance of depreciation on building  Disallowance of deduction of interest paid to North Kerala Project Development Fund  Disallowance of contribution to Employee’s Recreation (BOHO Club)  Disallowance of payment of monthly benefit to employees under VRS scheme after retirement – Section

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)

8D  Taxing of rental income from building as ‘Income from House Property’ instead of “business income” and disallowance of depreciation on building  Disallowance of deduction of interest paid to North Kerala Project Development Fund  Disallowance of contribution to Employee’s Recreation (BOHO Club)  Disallowance of payment of monthly benefit to employees under VRS scheme after retirement – Section

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)

8D  Taxing of rental income from building as ‘Income from House Property’ instead of “business income” and disallowance of depreciation on building  Disallowance of deduction of interest paid to North Kerala Project Development Fund  Disallowance of contribution to Employee’s Recreation (BOHO Club)  Disallowance of payment of monthly benefit to employees under VRS scheme after retirement – Section

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)

8D  Taxing of rental income from building as ‘Income from House Property’ instead of “business income” and disallowance of depreciation on building  Disallowance of deduction of interest paid to North Kerala Project Development Fund  Disallowance of contribution to Employee’s Recreation (BOHO Club)  Disallowance of payment of monthly benefit to employees under VRS scheme after retirement – Section

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)

8D  Taxing of rental income from building as ‘Income from House Property’ instead of “business income” and disallowance of depreciation on building  Disallowance of deduction of interest paid to North Kerala Project Development Fund  Disallowance of contribution to Employee’s Recreation (BOHO Club)  Disallowance of payment of monthly benefit to employees under VRS scheme after retirement – Section

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)

8D  Taxing of rental income from building as ‘Income from House Property’ instead of “business income” and disallowance of depreciation on building  Disallowance of deduction of interest paid to North Kerala Project Development Fund  Disallowance of contribution to Employee’s Recreation (BOHO Club)  Disallowance of payment of monthly benefit to employees under VRS scheme after retirement – Section

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)

8D  Taxing of rental income from building as ‘Income from House Property’ instead of “business income” and disallowance of depreciation on building  Disallowance of deduction of interest paid to North Kerala Project Development Fund  Disallowance of contribution to Employee’s Recreation (BOHO Club)  Disallowance of payment of monthly benefit to employees under VRS scheme after retirement – Section

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)

8D  Taxing of rental income from building as ‘Income from House Property’ instead of “business income” and disallowance of depreciation on building  Disallowance of deduction of interest paid to North Kerala Project Development Fund  Disallowance of contribution to Employee’s Recreation (BOHO Club)  Disallowance of payment of monthly benefit to employees under VRS scheme after retirement – Section

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\nAnd Shri T. R. Senthil Kumar (Judicial Member)

Section\n36(1)(viii) of the Act before Hon'ble Supreme Court) and A.Y. 2004-05 (in\nrelation to grounds relating to interest earned on North Kerala Dairy Project\nDevelopment Fund and in relation to ground relating to deduction in respect of\ncontribution made to employees recreation ) before Hon'ble Gujarat High Court,\non the said issues being decided

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\nAnd Shri T. R. Senthil Kumar (Judicial Member)

Section\n36(1)(viii) of the Act before Hon'ble Supreme Court) and A.Y. 2004-05 (in\nrelation to grounds relating to interest earned on North Kerala Dairy Project\nDevelopment Fund and in relation to ground relating to deduction in respect of\ncontribution made to employees recreation ) before Hon'ble Gujarat High Court,\non the said issues being decided

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

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

Section\n36(1)(viii) of the Act before Hon'ble Supreme Court) and A.Y. 2004-05 (in\nrelation to grounds relating to interest earned on North Kerala Dairy Project\nDevelopment Fund and in relation to ground relating to deduction in respect of\ncontribution made to employees recreation ) before Hon'ble Gujarat High Court,\non the said issues being decided

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\nAnd Shri T. R. Senthil Kumar (Judicial Member)

Section\n36(1)(viii) of the Act before Hon'ble Supreme Court) and A.Y. 2004-05 (in\nrelation to grounds relating to interest earned on North Kerala Dairy Project\nDevelopment Fund and in relation to ground relating to deduction in respect of\ncontribution made to employees recreation ) before Hon'ble Gujarat High Court,\non the said issues being decided

ACIT CENTRAL CIRCLE 2(3), AHMEDABAD vs. INTAS PHARMACEUTICALS LIMITED, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Ms. Suchitra R. Kamble & Shri Narendra Prasad Sinhaasst. Commissioner Of M/S. Intas Pharmaceuticals Ltd., Vs. Income-Tax, Corporate House, S.G. Highway, Central Circle 2(3), Nr. Sola Bridge, Thaltej, Ahmedabad Ahmedabad-380 054 [Pan : Aaaci 5120 L] (Appellant) .. (Respondent) Appellant Represented By : Shri Sher Singh, Cit (Dr) Respondent Represented By: Shri S. N. Soparkar, Sr. Advocate & Ms. Urvashi Sodhan, Ar Date Of Hearing 07.01.2026 Date Of Pronouncement 24.02.2026 O R D E R Per Ms. Suchitra R. Kamble:-

House, S.G. Highway, Central Circle 2(3), Nr. Sola Bridge, Thaltej, Ahmedabad Ahmedabad-380 054 [PAN : AAACI 5120 L] (Appellant) .. (Respondent) Appellant represented by : Shri Sher Singh, CIT (DR) Respondent represented by: Shri S. N. Soparkar, Sr. Advocate & Ms. Urvashi Sodhan, AR Date of Hearing 07.01.2026 Date of Pronouncement 24.02.2026 O R D E R PER MS. SUCHITRA R. KAMBLE

AURA SECURITIES PRIVATE LIMITED,AHMEDABAD vs. THE ACIT, CIRCLE-1(1)(1), AHMEDABAD

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

Bench: Ms. Suchitra Kamble & Shri Makarand Vasant Mahadeokarassessment Year: 2017-18

House, Circle – 1(1)(1), 53-Shrimali Society, Ahmedabad. Vs. Navrangpura, Ahmedabad – 380 009 [PAN – AABCM 0602 L] (Appellant) (Respondent) Assessee by Shri Biren Shah, AR Revenue by Shri B.P. Srivastava, Sr. DR Date of Hearing 09.12.2024 Date of Pronouncement 02.01.2025 O R D E R This appeal is filed by the assessee against order dated 04.09.2023 passed