SHRI RAMNIKLAL H. AMBANI,,AHMEDABAD vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-5(2),, AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./ Ita No. 3202/Ahd/2016 "नधा"रण वष"/Assessment Year: 2013-14 Ramniklal H. Ambani, Vs. Dcit, Vimal House, 7 Gadhvi Society, Circle – 5(2), Navrangpura, Ahmedabad. Ahmedabad. Pan No. Aalpa 6303 R अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Sameer Jani, A.R. Revenue By : Shri Kamlesh Makwana, Sr. D.R. सुनवाई क" तार"ख/Date Of Hearing : 10.09.2018 घोषणा क" तार"ख /Date Of Pronouncement : 15.10.2018 आदेश/O R D E R Per Waseem Ahmed: The Captioned Appeal Has Been Filed At The Instance Of The Assessee Against The Appellate Order Of The Learned Commissioner Of Income-Tax (Appeals)-5, Ahmedabad [“Cit(A)” In Short] Relevant To Assessment Year 2013-14. 2. Assessee Has Raised The Following Grounds Of Appeal:- “1. The Learned Cit (A) Has Erred In Law & On Facts In Partly Confirming The Assessment Order Passed By The Assessing Officer U/S 143(3) Of The Act. 2. The Learned Cit(A) Has Erred In Law & On Facts On The Issue Of Disallowance Under Section 14A Without Considering The Contention Of The Appellant. The Appellant'S Contention That Majority Of The Investment In Shares Are Made Before Many Years Is Neglected By The Ld.Cit(A). The Ld.Cit(A) Has Conveniently Misrepresented The Fact In His Order That No Bifurcation With Regards To Stock In Trade & Investments Is Given Even Though Separate Figures Were Given During Appellate Proceedings. The 2 Ramniklal H. Ambai Vs. Dcit Ay : 2013-14

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.]” "8D. Method for determining amount of expenditure in relation to income not includible in total income.—(1) Where

SUN PHARMACEUTICALS INDUSTRIES LTD. ( ERSTWHILE RANBAXY LABORATORIES LIMITED),BARODA vs. THE ACIT,CENT.CIRCLE-1, BARODA

482 provide and discuss the concept of transfer pricing. Section 1.482-5 of the US Transfer Pricing Regulations state that 'the tested party will be the participant in the controlled transaction whose operating profit attributable to the controlled transactions can be verified using the most reliable data and requiring the fewest and most reliable adjustments, and for which reliable data

RANBAXY LABORATORIES LTD.,DELHI vs. DCIT, NEW DELHI

In the result, the appeal of the assessee in IT(TP) A No

Bench: Justice P.P. Bhatt & Shri Waseem Ahmed1. आयकर अपील सं./It(Tp)A No. 1782/Del/2014 2. आयकर अपील सं./It(Tp)A No. 781/Del/2015 ("नधा"रण वष"/Assessment Years : 2009-10 & 2010-11) Ranbaxy Laboratories Ltd. The Dcit बनाम/ 12Th Floor, Devika Tower Circle-21(1), New Vs. 6, Nehru Place, New Delhi Delhi/ 110 019 Addl.Cit Range-15 New Delhi "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacr0127N .. (अपीलाथ"/Appellant) (""यथ" / Respondent) अपीलाथ" ओर से/ Appellant By : Shri S.N.Soparkar, Shri Vartik Chokshi, Ms.Urvashi Shodhan & Shri P.Shah, Ars ""यथ" क" ओर से/Respondent By: Shri Mahesh Shah, Cit-Dr

482 provide and discuss the concept of transfer pricing. Section 1.482-5 of the US Transfer Pricing Regulations state that 'the tested party will be the participant in the controlled transaction whose operating profit attributable to the controlled transactions can be verified using the most reliable data and requiring the fewest and most reliable adjustments, and for which reliable data

M/S. RANBAXY LABORATORIES LIMITED,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, the appeal of the assessee in IT(TP) A No

Bench: Justice P.P. Bhatt & Shri Waseem Ahmed1. आयकर अपील सं./It(Tp)A No. 1782/Del/2014 2. आयकर अपील सं./It(Tp)A No. 781/Del/2015 ("नधा"रण वष"/Assessment Years : 2009-10 & 2010-11) Ranbaxy Laboratories Ltd. The Dcit बनाम/ 12Th Floor, Devika Tower Circle-21(1), New Vs. 6, Nehru Place, New Delhi Delhi/ 110 019 Addl.Cit Range-15 New Delhi "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacr0127N .. (अपीलाथ"/Appellant) (""यथ" / Respondent) अपीलाथ" ओर से/ Appellant By : Shri S.N.Soparkar, Shri Vartik Chokshi, Ms.Urvashi Shodhan & Shri P.Shah, Ars ""यथ" क" ओर से/Respondent By: Shri Mahesh Shah, Cit-Dr

482 provide and discuss the concept of transfer pricing. Section 1.482-5 of the US Transfer Pricing Regulations state that 'the tested party will be the participant in the controlled transaction whose operating profit attributable to the controlled transactions can be verified using the most reliable data and requiring the fewest and most reliable adjustments, and for which reliable data

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)

482]. But if it changes the law it is not presumed to be retrospective, irrespective of the fact that the phrases used are “it is declared” or “for the removal of doubts”. 18. There was and is no ambiguity in the main provision of Section 9(1)(ii). It includes salaries in the total income of an assessee

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)

482]. But if it changes the law it is not presumed to be retrospective, irrespective of the fact that the phrases used are “it is declared” or “for the removal of doubts”. 18. There was and is no ambiguity in the main provision of Section 9(1)(ii). It includes salaries in the total income of an assessee

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)

482]. But if it changes the law it is not presumed to be retrospective, irrespective of the fact that the phrases used are “it is declared” or “for the removal of doubts”. 18. There was and is no ambiguity in the main provision of Section 9(1)(ii). It includes salaries in the total income of an assessee

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)

482]. But if it changes the law it is not presumed to be retrospective, irrespective of the fact that the phrases used are “it is declared” or “for the removal of doubts”. 18. There was and is no ambiguity in the main provision of Section 9(1)(ii). It includes salaries in the total income of an assessee

JOSHI TECHNOLOGIES INTERNATIONAL INC.,,AHMEDABAD vs. THE ADIT.,(INTNL.TAXN.), AHMEDABAD

In the result appeal of the assessee is allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedassessment Year : 2003-04 Joshi Technologies International Inc., Asst. Commissioner Of Income- 402, Heritage, Off. Ashram Road, Vs Tax (International Taxation), Usmanpura, Ahmedabad Ahmedabad Pan : Aaacj 9592 P Assessment Year : 2006-07 Joshi Technologies International Inc., Dy. Commissioner Of Income- 701, Parshwanath E Square, Vs Tax (International Taxation-1), Prahladnagar Garden, Near Titanium Ahmedabad Building, Satellite, Ahmedabad Pan : Aaacj 9592 P अपीलाथ"/ (Appellant) "त् यथ"/ (Respondent) Assessee By : Shri S.N. Soparkar, Sr. Advocate With Shri Yogesh G. Shah, Ar Revenue By : Shri Alok Kumar, Cit-Dr & Shri Atul Pandey, Sr Dr सुनवाई क" तार"ख/Date Of Hearing : 02/08/2022 घोषणा क" तार"ख /Date Of Pronouncement: 17/08/2022 आदेश/O R D E R Per Waseem Ahmed, Am : These Are The Appeals Filed By The Assessee Against Two Separate Orders Of The Learned Commissioner Of Income Tax (Appeals), Gandhinagar Dated 12.01.2010 & Learned Commissioner Of Income-Tax (Appeals)-13, Ahmedabad Dated 29.05.2015 Passed For Assessment Years 2003-04 & 2006-07 Respectively.

reassessment proceeding within four year from the end of the assessment year. It is submitted it be so held now. 4. The CIT(A) erred in disallowing claim of deduction under section 42 of the Act. It is submitted that in the facts and circumstances of the case the appellant is entitled to deduction under section

JOSHI TECHNOLOGIES INTERNATIONAL INC.,,AHMEDABAD vs. THE ASSTT. DIT, (INTL. TAXN.),, AHMEDABAD

In the result appeal of the assessee is allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedassessment Year : 2003-04 Joshi Technologies International Inc., Asst. Commissioner Of Income- 402, Heritage, Off. Ashram Road, Vs Tax (International Taxation), Usmanpura, Ahmedabad Ahmedabad Pan : Aaacj 9592 P Assessment Year : 2006-07 Joshi Technologies International Inc., Dy. Commissioner Of Income- 701, Parshwanath E Square, Vs Tax (International Taxation-1), Prahladnagar Garden, Near Titanium Ahmedabad Building, Satellite, Ahmedabad Pan : Aaacj 9592 P अपीलाथ"/ (Appellant) "त् यथ"/ (Respondent) Assessee By : Shri S.N. Soparkar, Sr. Advocate With Shri Yogesh G. Shah, Ar Revenue By : Shri Alok Kumar, Cit-Dr & Shri Atul Pandey, Sr Dr सुनवाई क" तार"ख/Date Of Hearing : 02/08/2022 घोषणा क" तार"ख /Date Of Pronouncement: 17/08/2022 आदेश/O R D E R Per Waseem Ahmed, Am : These Are The Appeals Filed By The Assessee Against Two Separate Orders Of The Learned Commissioner Of Income Tax (Appeals), Gandhinagar Dated 12.01.2010 & Learned Commissioner Of Income-Tax (Appeals)-13, Ahmedabad Dated 29.05.2015 Passed For Assessment Years 2003-04 & 2006-07 Respectively.

reassessment proceeding within four year from the end of the assessment year. It is submitted it be so held now. 4. The CIT(A) erred in disallowing claim of deduction under section 42 of the Act. It is submitted that in the facts and circumstances of the case the appellant is entitled to deduction under section

THE ITO, WARD-1,, ANAND vs. M/S. DEVRAJ DEVELOPERS,, ANAND

In the result, appeal of the revenue in ITA No

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediaआयकर अपील सं./I.T.A. Nos. 1524 To 1526/Ahd/2018 ("नधा"रण वष" / Assessment Years : 2009-10 To 2011-12)

reassessment. As the assessee has declared building amount only Rs.2,46,32,166/- and the value estimated by valuation cell of income tax of Rs.4,28,09,482/- over the years, there is clear cut difference between these three figures amounting to Rs.1,81,77,316/- (Rs.2,46,32,166/- - Rs.4,28,09,482). Thus, this is a case

THE ITO, WARD-1,, ANAND vs. M/S. DEVRAJ DEVELOPERS,, ANAND

In the result, appeal of the revenue in ITA No

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediaआयकर अपील सं./I.T.A. Nos. 1524 To 1526/Ahd/2018 ("नधा"रण वष" / Assessment Years : 2009-10 To 2011-12)

reassessment. As the assessee has declared building amount only Rs.2,46,32,166/- and the value estimated by valuation cell of income tax of Rs.4,28,09,482/- over the years, there is clear cut difference between these three figures amounting to Rs.1,81,77,316/- (Rs.2,46,32,166/- - Rs.4,28,09,482). Thus, this is a case

THE ITO, WARD-1,, ANAND vs. M/S. DEVRAJ DEVELOPERS,, ANAND

In the result, appeal of the revenue in ITA No

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediaआयकर अपील सं./I.T.A. Nos. 1524 To 1526/Ahd/2018 ("नधा"रण वष" / Assessment Years : 2009-10 To 2011-12)

reassessment. As the assessee has declared building amount only Rs.2,46,32,166/- and the value estimated by valuation cell of income tax of Rs.4,28,09,482/- over the years, there is clear cut difference between these three figures amounting to Rs.1,81,77,316/- (Rs.2,46,32,166/- - Rs.4,28,09,482). Thus, this is a case

THE DY. CIT, CIRCLE-1(2),, VADODARA vs. M/S. WEB GAZER SOFTWARE COMPANY,, VADODARA

482 (Bom.). The issue there was the challenge to the notice under section 148 of the Act. Admittedly, the issue regarding the capital gains arising from the sale of shares pursuant to the agreement dated 3-1-1992, was neither raised nor discussed in the assessment order for the assessment year 1992-93. On those facts, the court refused