YAKIN JAYANTILAL SHAH,AHMEDABAD vs. ITO, WARD 2(1)(1), AHMEDABAD, AHMEDABAD

Bench: Ms. Suchitra R. Kamble & Makarand V.Mahadeokar

255 (Raj.)] has, after an elaborate examination of the statutory scheme under sections 153A, 153C and 147, held that when the seized material “belongs to or relates to” a person other than the one searched, proceedings must be initiated under section 153C, and that the jurisdiction under section 147/148 can be exercised only where no incriminating material is found during

YAKIN JAYANTILAL SHAH,AHMEDABAD vs. ITO, WARD 2(1)(1), AHMEDABAD, AHMEDABAD

Bench: Ms. Suchitra R. Kamble & Makarand V.Mahadeokar

255 (Raj.)] has, after an elaborate examination of the statutory scheme under sections 153A, 153C and 147, held that when the seized material “belongs to or relates to” a person other than the one searched, proceedings must be initiated under section 153C, and that the jurisdiction under section 147/148 can be exercised only where no incriminating material is found during

YAKIN JAYANTILAL SHAH,AHMEDABAD vs. ITO, WARD 2(1)(1), AHMEDABAD, AHMEDABAD

Bench: Ms. Suchitra R. Kamble & Makarand V.Mahadeokar

255 (Raj.)] has, after an elaborate examination of the statutory scheme under sections 153A, 153C and 147, held that when the seized material “belongs to or relates to” a person other than the one searched, proceedings must be initiated under section 153C, and that the jurisdiction under section 147/148 can be exercised only where no incriminating material is found during

MADHAV COPPER LTD.,BHAVNAGAR vs. THE INCOME TAX OFFICER, WARD-1(8), BHAVNAGAR

Bench: S/Shri Sanjay Garg & Makarand V.Mahadeokar

255 and 256/Ahd/2024 Asstt.Year : 2018-19, 2020-21 and 2021-22 The ITO, Ward-1(8) Bhavnagar. Madhav Copper Ltd. Vs. 348, Madhav Darshan Waghawadi Road Bhavnagar Gujarat 364 001. PAN : AAICM 2859 A ITA No.274, 275 and 276/Ahd/2024 Asstt.Year: 2018-19, 2020-21 and 2021-22 The ITO, Ward-1(8) Vs. Bhavnagar. Madhav Copper Ltd. 348, Madhav Darshan

THE ACIT, CIRCLE-1(1)(1), VADODARA vs. GUJARAT URJA VIKAS NIGAM LIMITED, VADODARA

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

Bench: Smt. Annapurna Gupta & Ms. Madhumita Roy

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment year beginning on or before the 1st day of April, 2001.’ 2. New Rule 8D : 2.1 In exercise of the powers given in S. 14A(2) C.B.D.T. has issued

GUJARAT URJA VIKAS NIGAM LIMITED,VADODARA vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1), VADODARA

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

Bench: Smt. Annapurna Gupta & Ms. Madhumita Roy

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment year beginning on or before the 1st day of April, 2001.’ 2. New Rule 8D : 2.1 In exercise of the powers given in S. 14A(2) C.B.D.T. has issued

GUJARAT FLUROCHEMICALS LIMITED.,,VADODARA vs. THE ACIT, CIRCLE-1(1)(1),, VADODARA

In the result, both appeals of the assessee are partly allowed

Bench: Shri Rajpal Yadav & Shri Amarjit Singhआयकर अपील सं./ Ita No.805/Ahd/2017 "नधा"रण वष"/Asstt. Year: 2012-2013 & Asst.Year : 2013-2014

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment year beginning on or before the 1st day of April, 2001. 12. A perusal of this section would indicate that sub-section-1 contemplates that deduction of expenditure incurred

GUJARAT FLUOROCHEMICALS LIMITED,,VADODARA vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, VADODARA

In the result, both appeals of the assessee are partly allowed

Bench: Shri Rajpal Yadav & Shri Amarjit Singhआयकर अपील सं./ Ita No.805/Ahd/2017 "नधा"रण वष"/Asstt. Year: 2012-2013 & Asst.Year : 2013-2014

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment year beginning on or before the 1st day of April, 2001. 12. A perusal of this section would indicate that sub-section-1 contemplates that deduction of expenditure incurred

GUJARAT URJA VIKAS NIGAM LTD,VADODARA vs. THE ACIT, CIRECLE-1(1)(1), VADODARA

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

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment year beginning on or before the 1st day of April, 2001.’ 2. New Rule 8D : 2.1 In exercise of the powers given in S. 14A(2) C.B.D.T. has issued

INCOME TAX OFFICER, WARD-1(8), BHAVNAGAR, BHAVNAGAR vs. MADHAV COPPER LIMITED, BHAVNAGAR

In the result, all six appeals, three by the Revenue and three by the assessee, stand dismissed

Bench: S/Shri Sanjay Garg & Makarand V.Mahadeokar

255 and 256/Ahd/2024 Asstt.Year : 2018-19, 2020-21 and 2021-22 The ITO, Ward-1(8) Madhav Copper Ltd. Bhavnagar. Vs. 348, Madhav Darshan Waghawadi Road Bhavnagar Gujarat 364 001. PAN : AAICM 2859 A ITA No.274, 275 and 276/Ahd/2024 Asstt.Year : 2018-19, 2020-21 and 2021-22 Madhav Copper Ltd. The ITO, Ward-1(8) 348, Madhav Darshan Vs. Bhavnagar

INCOME TAX OFFICER, WARD-1(8), BHAVNAGAR vs. MADHAV COPPER LIMITED, BHAVNAGAR

In the result, all six appeals, three by the Revenue and three by the assessee, stand dismissed

Bench: S/Shri Sanjay Garg & Makarand V.Mahadeokar

255 and 256/Ahd/2024 Asstt.Year : 2018-19, 2020-21 and 2021-22 The ITO, Ward-1(8) Madhav Copper Ltd. Bhavnagar. Vs. 348, Madhav Darshan Waghawadi Road Bhavnagar Gujarat 364 001. PAN : AAICM 2859 A ITA No.274, 275 and 276/Ahd/2024 Asstt.Year : 2018-19, 2020-21 and 2021-22 Madhav Copper Ltd. The ITO, Ward-1(8) 348, Madhav Darshan Vs. Bhavnagar

MADHAV COPPER LTD.,BHAVNAGAR vs. THE INCOME TAX OFFICER, WARD-1(8), BHAVNAGAR

In the result, all six appeals, three by the Revenue and three by the assessee, stand dismissed

Bench: S/Shri Sanjay Garg & Makarand V.Mahadeokar

255 and 256/Ahd/2024 Asstt.Year : 2018-19, 2020-21 and 2021-22 The ITO, Ward-1(8) Madhav Copper Ltd. Bhavnagar. Vs. 348, Madhav Darshan Waghawadi Road Bhavnagar Gujarat 364 001. PAN : AAICM 2859 A ITA No.274, 275 and 276/Ahd/2024 Asstt.Year : 2018-19, 2020-21 and 2021-22 Madhav Copper Ltd. The ITO, Ward-1(8) 348, Madhav Darshan Vs. Bhavnagar

SUZLON ENERGY LTD.,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), AHMEDABAD

In the result the Ground Nos

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

255 ITR 273 (SC) which held that “the Assessing Officer does not have the jurisdiction to go behind the net profit shown in the profit and loss account except to the extent provided in the Explanation to Section 115J.” The Court declines to frame a question on the above issue.” 21. Apart from the above, we have a binding precedent

THE DY. COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), AHMEDABAD vs. SUZLON ENERGY LTD.,, AHMEDABAD

In the result the Ground Nos

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

255 ITR 273 (SC) which held that “the Assessing Officer does not have the jurisdiction to go behind the net profit shown in the profit and loss account except to the extent provided in the Explanation to Section 115J.” The Court declines to frame a question on the above issue.” 21. Apart from the above, we have a binding precedent

THE DY. COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), AHMEDABAD vs. SUZLON ENERGY LTD.,, AHMEDABAD

In the result the Ground Nos

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

255 ITR 273 (SC) which held that “the Assessing Officer does not have the jurisdiction to go behind the net profit shown in the profit and loss account except to the extent provided in the Explanation to Section 115J.” The Court declines to frame a question on the above issue.” 21. Apart from the above, we have a binding precedent

SUZLON ENERGY LTD.,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), AHMEDABAD

In the result the Ground Nos

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

255 ITR 273 (SC) which held that “the Assessing Officer does not have the jurisdiction to go behind the net profit shown in the profit and loss account except to the extent provided in the Explanation to Section 115J.” The Court declines to frame a question on the above issue.” 21. Apart from the above, we have a binding precedent

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

255/- in respect of contract research receipts : At the outset the appellant most respectfully submits that in respect of upward adjustment in with regards to transaction in the nature of contract research receipt from Dishman USA Inc is amounting to Rs.2,96,26,763/- is concerned, the same is not at all tenable as the total contacts research receipt with

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

255/- in respect of contract research receipts : At the outset the appellant most respectfully submits that in respect of upward adjustment in with regards to transaction in the nature of contract research receipt from Dishman USA Inc is amounting to Rs.2,96,26,763/- is concerned, the same is not at all tenable as the total contacts research receipt with