MOHSIN ZULFIKAR KORADIA,AHMEDABAD vs. THE PR. CIT-3, AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Smt.Annapurna Gupta & T.R. Senthil Kumarasstt.Year : 2011-12 Mohsin Zulfikar Koradia The Pr.Cit-3 C/O.Gujarat Food Industries Vs Ahmedabad. 4324 Phase Iv Gidc Vatva Ahmedabad 382 445 Pan : Htpk 0799 C

reassessment proceedings had been initiated on the assessee on the basis of information that the assessee had traded in scrips of penny stock company viz. M/s. Vas Infrastructure Ltd. (“VIL” for short) amounting to Rs.41,78,568/-. Thereafter case of the assessee was reopened and during the assessment proceedings, the assessee filed revised 3 return declaring capital gain on sale

THE ACIT, CIRCLE-3(2),, AHMEDABAD vs. VISHAL ENGINEERING & GALVANIZERS,, AHMEDABAD

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

short-term capital gain and long term capital gain. The appellant on the other hand has submitted that provisions of section 45(4) are not applicable as there was no transfer of assets by way of distribution of capital assets and there was no dissolution of the firm. The AO was not justified in observing that on conversion

THE DCIT, CIRCLE-6,, AHMEDABAD vs. VISHAL ENGINEERING & GALVANIZERS,, AHMEDABAD

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

short-term capital gain and long term capital gain. The appellant on the other hand has submitted that provisions of section 45(4) are not applicable as there was no transfer of assets by way of distribution of capital assets and there was no dissolution of the firm. The AO was not justified in observing that on conversion

M/S. VISHAL ENGINEERS & GALVANIZERS,,AHMEDABAD vs. THE DY.CIT, CIRCLE-6,, AHMEDABAD

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

short-term capital gain and long term capital gain. The appellant on the other hand has submitted that provisions of section 45(4) are not applicable as there was no transfer of assets by way of distribution of capital assets and there was no dissolution of the firm. The AO was not justified in observing that on conversion

VINODKUMAR S TOTLA,AHMEDABAD vs. ITO, WARD-7(1)(4),, AHMEDABAD

In the result, the appeal of the assessee is allowed

reassessment in the guise of a rectification proceeding and such an order could not stand. 6.1 Now coming to the facts of the case, the issue before us whether it can be said that the facts are straightforward enough to come to an unmistakable conclusion that the assessee has earned short term capital gains

THE ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), AHMEDABAD vs. SHRI KAILASH RAMAVATAR GOENKA, AHMEDABAD

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokar

Short-Term Capital Gains (Silver Harmony - AY 2020-21): Rs. 33,17,936/-. 10.1. Accordingly, the AO was directed to tax the capital gains year-wise under the appropriate heads and provide relief for the disallowed expenses IT(SS)A No.1/Ahd/2023 Kailash Ramavatar Goenka vs. ACIT and seven other appeals (By Assessee and By Revenue) Asst. Years

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

Term Capital Gain” (“LTCG” for short) in the hands of the assessee worked out at Rs. 65,28,303/-. Since assessee had already declared LTCG of Rs. 16,28,303/- in the return of income, Assessing Officer made addition of Rs. 49,00,000/- in respect of undisclosed capital gain on sale of land. Eventually, penalty under Section 271AAA came

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

Term Capital Gain” (“LTCG” for short) in the hands of the assessee worked out at Rs. 65,28,303/-. Since assessee had already declared LTCG of Rs. 16,28,303/- in the return of income, Assessing Officer made addition of Rs. 49,00,000/- in respect of undisclosed capital gain on sale of land. Eventually, penalty under Section 271AAA came

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

Term Capital Gain” (“LTCG” for short) in the hands of the assessee worked out at Rs. 65,28,303/-. Since assessee had already declared LTCG of Rs. 16,28,303/- in the return of income, Assessing Officer made addition of Rs. 49,00,000/- in respect of undisclosed capital gain on sale of land. Eventually, penalty under Section 271AAA came

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

Term Capital Gain” (“LTCG” for short) in the hands of the assessee worked out at Rs. 65,28,303/-. Since assessee had already declared LTCG of Rs. 16,28,303/- in the return of income, Assessing Officer made addition of Rs. 49,00,000/- in respect of undisclosed capital gain on sale of land. Eventually, penalty under Section 271AAA came

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

Term Capital Gain” (“LTCG” for short) in the hands of the assessee worked out at Rs. 65,28,303/-. Since assessee had already declared LTCG of Rs. 16,28,303/- in the return of income, Assessing Officer made addition of Rs. 49,00,000/- in respect of undisclosed capital gain on sale of land. Eventually, penalty under Section 271AAA came

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

Term Capital Gain” (“LTCG” for short) in the hands of the assessee worked out at Rs. 65,28,303/-. Since assessee had already declared LTCG of Rs. 16,28,303/- in the return of income, Assessing Officer made addition of Rs. 49,00,000/- in respect of undisclosed capital gain on sale of land. Eventually, penalty under Section 271AAA came

SHRI ROHITJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

Term Capital Gain” (“LTCG” for short) in the hands of the assessee worked out at Rs. 65,28,303/-. Since assessee had already declared LTCG of Rs. 16,28,303/- in the return of income, Assessing Officer made addition of Rs. 49,00,000/- in respect of undisclosed capital gain on sale of land. Eventually, penalty under Section 271AAA came

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

Term Capital Gain” (“LTCG” for short) in the hands of the assessee worked out at Rs. 65,28,303/-. Since assessee had already declared LTCG of Rs. 16,28,303/- in the return of income, Assessing Officer made addition of Rs. 49,00,000/- in respect of undisclosed capital gain on sale of land. Eventually, penalty under Section 271AAA came

SHRI ASHOKJI CHANDUJI THAKOR,,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

Term Capital Gain” (“LTCG” for short) in the hands of the assessee worked out at Rs. 65,28,303/-. Since assessee had already declared LTCG of Rs. 16,28,303/- in the return of income, Assessing Officer made addition of Rs. 49,00,000/- in respect of undisclosed capital gain on sale of land. Eventually, penalty under Section 271AAA came

NRUPAL NARESHCHANDRA RAJA,AHMEDABAD vs. THE PR. CIT, AHMEDABAD-1, AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

reassessment proceedings, the assessee had specifically submitted that during the impugned year under consideration, the assessee had not earned any exempt Long term capital gains, but in fact the assessee had earned the short

THE ACIT, CIRCLE-5,, AHMEDABAD vs. M/S. JUBILEE TRADELINK PVT. LTD., AHMEDABAD

In the result, the appeal of the Department is dismissed

Bench: Mrs. Annapurna Gupta & Shri Siddhartha Nautiyalिनधा"रणवष"/Assessment Year: 2008-09 Vs. M/S. Jubilee Tradelink Pvt. Ltd., The Acit, 9B, Bansidhar Apartments, Circle-5, Gyanganga Classes, Ahmedabad Jawaharnagar, Vasna, Ahmedabad Pan : Aabcj 0614 P अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" "" यथ" "" "" यथ" यथ"/ (Respondent) यथ" Assessee By : Shri S.N. Soparkar, Sr. Advocate & Shri Parin Shah, Ar Revenue By : Shri Ravindra, Sr Dr तारीख/Date Of Hearing : 08.05.2024 सुनवाई क" क" तारीख सुनवाई सुनवाई सुनवाई क" क" तारीख तारीख घोषणा क" क" तारीख तारीख /Date Of Pronouncement: 29.05.2024 घोषणा घोषणा घोषणा क" क" तारीख तारीख आदेश आदेश/O R D E R आदेश आदेश Per Siddhartha Nautiyal: This Appeal Has Been Filed By The Department Against The Order Of The Learned Commissioner Of Income-Tax (Appeals)-9, Ahmedabad [Hereinafter Referred To As "Cit(A)" For Short] Dated 05.01.2016, Passed Under Section 250(6) Of The Income Tax Act, 1961 [Hereinafter Referred To As "The Act" For Short], For The Assessment Year (Ay) 2008-09. 2. The Department Has Taken The Following Grounds Of Appeal:- “1. The Ld. Cit(A) Has Erred In Law & On Facts In Holding The Reassessment Proceedings As Void. 2. The Ld. Cit(A) Has Erred In Law & On Facts By Not Appreciating That The Assessment Was Reopened Within Four Years From The Relevant Assessment Year & The Issue Decided In Reassessment Proceedings Was Not Dealt With During Original Assessment Proceedings..

reassessment proceedings was not dealt with during original assessment proceedings.. 2 ACIT Vs. Jubilee Tradelink Pvt. Ltd. AY : 2008-09 3. The Ld. CIT(A) has erred in law and on facts in directing to allow the assessee short term capital loss of Rs.30,10,000/- instead of short term capital gain

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