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

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

penalty levied of Rs.51,73,081/- u/s 271(1)(c) of the Act despite the fact that the ld. CIT(A) has confirmed these additions/disallowances. (a) Clam of Short Term capital loss Rs. 21,87,518/- (b) Payments to Axis PE for due diligence Rs.41,54,372/- (c) Dead Stock Rs.6,23,810/- (d) Disallowance u/s 40(a) Rs.4

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

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

penalty levied of Rs.51,73,081/- u/s 271(1)(c) of the Act despite the fact that the ld. CIT(A) has confirmed these additions/disallowances. (a) Clam of Short Term capital loss Rs. 21,87,518/- (b) Payments to Axis PE for due diligence Rs.41,54,372/- (c) Dead Stock Rs.6,23,810/- (d) Disallowance u/s 40(a) Rs.4

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

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

penalty levied of Rs.51,73,081/- u/s 271(1)(c) of the Act despite the fact that the ld. CIT(A) has confirmed these additions/disallowances. (a) Clam of Short Term capital loss Rs. 21,87,518/- (b) Payments to Axis PE for due diligence Rs.41,54,372/- (c) Dead Stock Rs.6,23,810/- (d) Disallowance u/s 40(a) Rs.4

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

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

penalty levied of Rs.51,73,081/- u/s 271(1)(c) of the Act despite the fact that the ld. CIT(A) has confirmed these additions/disallowances. (a) Clam of Short Term capital loss Rs. 21,87,518/- (b) Payments to Axis PE for due diligence Rs.41,54,372/- (c) Dead Stock Rs.6,23,810/- (d) Disallowance u/s 40(a) Rs.4

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

penalty levied of Rs.51,73,081/- u/s 271(1)(c) of the Act despite the fact that the ld. CIT(A) has confirmed these additions/disallowances. (a) Clam of Short Term capital loss Rs. 21,87,518/- (b) Payments to Axis PE for due diligence Rs.41,54,372/- (c) Dead Stock Rs.6,23,810/- (d) Disallowance u/s 40(a) Rs.4

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

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

penalty levied of Rs.51,73,081/- u/s 271(1)(c) of the Act despite the fact that the ld. CIT(A) has confirmed these additions/disallowances. (a) Clam of Short Term capital loss Rs. 21,87,518/- (b) Payments to Axis PE for due diligence Rs.41,54,372/- (c) Dead Stock Rs.6,23,810/- (d) Disallowance u/s 40(a) Rs.4

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

Bench: Ms. Suchitra Kamble& Shri Waseem Ahmed

penalty levied of Rs.51,73,081/- u/s 271(1)(c) of the Act despite the fact that the ld. CIT(A) has confirmed these additions/disallowances. (a) Clam of Short Term capital loss Rs. 21,87,518/- (b) Payments to Axis PE for due diligence Rs.41,54,372/- (c) Dead Stock Rs.6,23,810/- (d) Disallowance u/s 40(a) Rs.4

SHREE RAMA MULTI-TECH LTD.,,AHMEDABAD vs. THE ACIT(OSD) CIRCLE-8, AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

145A of the Act. However, the Ld. CIT-A vide order dated 5th January 2007 was pleased to allow the claim of the assessee by observing as under: ITA Nos.722,218&1306/Ahd/2014 & ITA No. 1345/Ahd/2015 A.Ys. 2000-01&2007-08 to 2009-10 7 “7.2 I have considered the facts and submissions of the appellant and I am inclined

SHREE RAMA MULTI-TECH LTD.,,AHMEDABAD vs. THE DY.CIT.,CRCLE-8,, AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

145A of the Act. However, the Ld. CIT-A vide order dated 5th January 2007 was pleased to allow the claim of the assessee by observing as under: ITA Nos.722,218&1306/Ahd/2014 & ITA No. 1345/Ahd/2015 A.Ys. 2000-01&2007-08 to 2009-10 7 “7.2 I have considered the facts and submissions of the appellant and I am inclined

THE JOINT COMMISSIONER OF INCOME TAX(OSD),, GANDHINAGAR vs. SABARMATI GAS LIMITED,, GANDHINAGAR

Appeal of the Revenue is partly allowed for statistical purposes

145A was only the amount of any tax, duty, cess or fee, by whatever name called, actually paid or incurred by'the assessee to bring the goods to the place of its location and condition as on date of valuation - Addition made bytheAO is neither permissible under s. 145 nor under s. 145 A." 2.6 The appellant further draws

SABARMATI GAS LIMITED,,AHMEDABAD vs. THE ASSTT. COMMISSIONER OF INCOME TAX, GANDHINAGAR CIRCLE,, GANDHINAGAR

Appeal of the Revenue is partly allowed for statistical purposes

145A was only the amount of any tax, duty, cess or fee, by whatever name called, actually paid or incurred by'the assessee to bring the goods to the place of its location and condition as on date of valuation - Addition made bytheAO is neither permissible under s. 145 nor under s. 145 A." 2.6 The appellant further draws

DISHMAN PHARMACEUTICALS & CHEMICALS LIMITED,,AHMEDABAD vs. THE ACIT, (OSD),RANGE-1,, AHMEDABAD

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

u/s 795 is not required when the assessee directly incurred travelling and hotel expenses on Foreign Technicians and the same were not reimbursed to the foreign parties or the foreign technicians. In the case of CIT vs. Dunlop Rubber Co. Ltd., reported in 142 ITR 493 (CaL), the assessee company had paid its share of costs and expenses in relation

THE DCIT(OSD)RANGE-1,, AHMEDABAD vs. DISHMAN PHARMACEUTICALS & CHEMICALS LTD.,, AHMEDABAD

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

u/s 795 is not required when the assessee directly incurred travelling and hotel expenses on Foreign Technicians and the same were not reimbursed to the foreign parties or the foreign technicians. In the case of CIT vs. Dunlop Rubber Co. Ltd., reported in 142 ITR 493 (CaL), the assessee company had paid its share of costs and expenses in relation

THE ACIT,(OSD)RANGE-1,, AHMEDABAD vs. M/S. DISHMAN PHARMACEUTICALS & CHEMICALS LTD.,, AHMEDABAD

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

u/s 795 is not required when the assessee directly incurred travelling and hotel expenses on Foreign Technicians and the same were not reimbursed to the foreign parties or the foreign technicians. In the case of CIT vs. Dunlop Rubber Co. Ltd., reported in 142 ITR 493 (CaL), the assessee company had paid its share of costs and expenses in relation

THE DCIT(OSD)RANGE-1,, AHMEDABAD vs. DISHMAN PHARMACEUTICALS & CHEMICALS LTD.,, AHMEDABAD

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

u/s 795 is not required when the assessee directly incurred travelling and hotel expenses on Foreign Technicians and the same were not reimbursed to the foreign parties or the foreign technicians. In the case of CIT vs. Dunlop Rubber Co. Ltd., reported in 142 ITR 493 (CaL), the assessee company had paid its share of costs and expenses in relation

DISHMAN PHARMACEUTICALS & CHEMICALS LTD.,,AHMEDABAD vs. THE ACIT.,(OSD)RANGE-1,, AHMEDABAD

In the result, we allow appeal of the assessee and delete penalty confirmed by the ld

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

u/s 795 is not required when the assessee directly incurred travelling and hotel expenses on Foreign Technicians and the same were not reimbursed to the foreign parties or the foreign technicians. In the case of CIT vs. Dunlop Rubber Co. Ltd., reported in 142 ITR 493 (CaL), the assessee company had paid its share of costs and expenses in relation

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

section (5) of Section 80-IA. In this case, the question that arose for consideration ITA.Nos.1285/Ahd/2017 & 7 others A.Y.2009-10 38 before this Court related to computation of the profits for the purpose of deduction under section 80-E, as it then existed, after setting off the loss incurred by the assessee in the manufacture of alloy steels. Section