ACIT, CENTRAL CIRCLE-2, VADODARA, VADODARA vs. HK ISPAT PVT LTD, GODHRA

In the result, all the appeals filed by the Revenue for AYs 2014–15 to 2021–

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra R. Kamblesn

68, read with section 131. of the Income-tax Act, 1961-Cash credit (Advance) - Assessment years 2006-07 and 2007-08-In scrutiny, it was revealed that assessee had shown advances from 84 persons towards investment in land Assessee submitted that these were received as advance booking amounts through cheques in ordinary course of business

H K ISPAT PVT. LTD.,PANCHMAHAL vs. THE DY.CIT, CENTRAL CIRCLE-2, VADODARA

In the result, all the appeals filed by the Revenue for AYs 2014–15 to 2021–

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra R. Kamblesn

68, read with section 131. of the Income-tax Act, 1961-Cash credit (Advance) - Assessment years 2006-07 and 2007-08-In scrutiny, it was revealed that assessee had shown advances from 84 persons towards investment in land Assessee submitted that these were received as advance booking amounts through cheques in ordinary course of business

ACIT, CENTRAL CIRCLE-2, VADODARA, VADODARA vs. HK ISPAT PVT LTD, GODHRA

In the result, all the appeals filed by the Revenue for AYs 2014–15 to 2021–

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra R. Kamblesn

68, read with section 131. of the Income-tax Act, 1961-Cash credit (Advance) - Assessment years 2006-07 and 2007-08-In scrutiny, it was revealed that assessee had shown advances from 84 persons towards investment in land Assessee submitted that these were received as advance booking amounts through cheques in ordinary course of business

NIRMA LIMITED,AHMEDABAD vs. THE DY CIT, CIRCLE-5,, AHMEDABAD

In the result appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No. 1187 & 896/Ahd/2013 िनधा"रण वष"/Asstt. Years: 2000-2001 & 2004-2005 Nirma Limited, A.C.I.T., Nirma House, Vs. Circle-5, Ashram Road, Ahmedabad. Ahmedabad.

68. This question has been decided in favour of the assessee. However, we are of the view that income might be resulted to the assessee from job work, but whether it has been derived from export activities, there is a vital difference between sections 80HHC and 80I. The income should result from export activities only then it will qualify

THE ACIT, CIRCLE-5,, AHMEDABAD vs. M/S. NIRMA LIMITED,, AHMEDABAD

In the result appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No. 1187 & 896/Ahd/2013 िनधा"रण वष"/Asstt. Years: 2000-2001 & 2004-2005 Nirma Limited, A.C.I.T., Nirma House, Vs. Circle-5, Ashram Road, Ahmedabad. Ahmedabad.

68. This question has been decided in favour of the assessee. However, we are of the view that income might be resulted to the assessee from job work, but whether it has been derived from export activities, there is a vital difference between sections 80HHC and 80I. The income should result from export activities only then it will qualify

SHRI PAVAN M.SHARMA L/H OF LATE MAHESH L.SHARMA,AHMEDABAD vs. THE ADIT(EXEMPTION),, AHMEDABAD

In the result, the appeal of the assessee is allowed

business was carried out by the Appellant during the year under consideration. 3. The ld. CIT(A) has erred in law and on the facts of the case in confirming the action of Id. AO in treating interest income of Rs.6,98,780/- as income from other sources and adding the same to total income of the Appellant. 4. Alternatively

SHRI PAVAN M.SHARMA L/H OF LATE MAHESH L.SHARMA,AHMEDABAD vs. THE INCOME TAX OFFICER,WARD-9(2),, AHMEDABAD

In the result, the appeal of the assessee is allowed

business was carried out by the Appellant during the year under consideration. 3. The ld. CIT(A) has erred in law and on the facts of the case in confirming the action of Id. AO in treating interest income of Rs.6,98,780/- as income from other sources and adding the same to total income of the Appellant. 4. Alternatively

SHRI PAVAN M.SHARMA L/H OF LATE MAHESH L.SHARMA,AHMEDABAD vs. THE INCOME TAX OFFICER,WARD-9(2),, AHMEDABAD

In the result, the appeal of the assessee is allowed

business was carried out by the Appellant during the year under consideration. 3. The ld. CIT(A) has erred in law and on the facts of the case in confirming the action of Id. AO in treating interest income of Rs.6,98,780/- as income from other sources and adding the same to total income of the Appellant. 4. Alternatively

SHRI PAVAN M.SHARMA L/H OF LATE MAHESH L.SHARMA,AHMEDABAD vs. THE INCOME TAX OFFICER,WARD-9(2),, AHMEDABAD

In the result, the appeal of the assessee is allowed

business was carried out by the Appellant during the year under consideration. 3. The ld. CIT(A) has erred in law and on the facts of the case in confirming the action of Id. AO in treating interest income of Rs.6,98,780/- as income from other sources and adding the same to total income of the Appellant. 4. Alternatively

SHRI PAVAN M.SHARMA L/H OF LATE MAHESH L.SHARMA,AHMEDABAD vs. THE INCOME TAX OFFICER,WARD-9(2),, AHMEDABAD

In the result, the appeal of the assessee is allowed

business was carried out by the Appellant during the year under consideration. 3. The ld. CIT(A) has erred in law and on the facts of the case in confirming the action of Id. AO in treating interest income of Rs.6,98,780/- as income from other sources and adding the same to total income of the Appellant. 4. Alternatively

SHRI PAVAN M.SHARMA L/H OF LATE MAHESH L.SHARMA,AHMEDABAD vs. THE ADIT(EXEMPTION),, AHMEDABAD

In the result, the appeal of the assessee is allowed

business was carried out by the Appellant during the year under consideration. 3. The ld. CIT(A) has erred in law and on the facts of the case in confirming the action of Id. AO in treating interest income of Rs.6,98,780/- as income from other sources and adding the same to total income of the Appellant. 4. Alternatively

M/S. FAG BEARINGS INDIA LTD.,,BARODA vs. THE CIT-I,, BARODA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

business income. Sr.No. Nature of Income Amount (Rs.in lacs) a) Service Income 248.00 b) Income from Investments 14.00 c) Income from UTI 34.00 d) Write Back of Provisions 64.00 e) Misc.Income i) Scrap Sales 70.47 ii) Freight Recovered 6.01 iii) Insurance claim 4.59 iv) Handling Charges 2.65 v) DEPB Income 55.39 vi) Discount on early 12.39 payments of Suppliers

THE ACIT, CIRCLE-1(2),, BARODA vs. M/S. FAG BEARINGS INDIA LTD.,, VADODARA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

business income. Sr.No. Nature of Income Amount (Rs.in lacs) a) Service Income 248.00 b) Income from Investments 14.00 c) Income from UTI 34.00 d) Write Back of Provisions 64.00 e) Misc.Income i) Scrap Sales 70.47 ii) Freight Recovered 6.01 iii) Insurance claim 4.59 iv) Handling Charges 2.65 v) DEPB Income 55.39 vi) Discount on early 12.39 payments of Suppliers

THE ACIT, CIRCLE-5, AHMEDABAD vs. M/S. NABROS PHARMA LTD., AHMEDABAD

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

business income. Sr.No. Nature of Income Amount (Rs.in lacs) a) Service Income 248.00 b) Income from Investments 14.00 c) Income from UTI 34.00 d) Write Back of Provisions 64.00 e) Misc.Income i) Scrap Sales 70.47 ii) Freight Recovered 6.01 iii) Insurance claim 4.59 iv) Handling Charges 2.65 v) DEPB Income 55.39 vi) Discount on early 12.39 payments of Suppliers

M/S. FAG BEARINGS INDIA LTD.,,BARODA vs. THE DY.CIT.,CIRCLE-1(2),, BARODA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

business income. Sr.No. Nature of Income Amount (Rs.in lacs) a) Service Income 248.00 b) Income from Investments 14.00 c) Income from UTI 34.00 d) Write Back of Provisions 64.00 e) Misc.Income i) Scrap Sales 70.47 ii) Freight Recovered 6.01 iii) Insurance claim 4.59 iv) Handling Charges 2.65 v) DEPB Income 55.39 vi) Discount on early 12.39 payments of Suppliers

M/S. FAG BEARINGS INDIA LTD.,BARODA vs. THE ACIT, CIRCLE-1(2),, BARODA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

business income. Sr.No. Nature of Income Amount (Rs.in lacs) a) Service Income 248.00 b) Income from Investments 14.00 c) Income from UTI 34.00 d) Write Back of Provisions 64.00 e) Misc.Income i) Scrap Sales 70.47 ii) Freight Recovered 6.01 iii) Insurance claim 4.59 iv) Handling Charges 2.65 v) DEPB Income 55.39 vi) Discount on early 12.39 payments of Suppliers

M/S. FAG BEARINGS INDIA LTD.,,BARODA vs. THE ACIT.,CIRCLE-1(2),(TPO), BARODA

Bench: Shri Waseem Ahmed & Ms Madhumita Roy1. आयकर अपील सं./Ita No.4565/Ahd/2007 – Ay 2004-05 2. आयकर अपील सं./Ita No.1529/Ahd/2009 – Ay 2005-06 3. आयकर अपील सं./Ita No.1256/Ahd/2012 – Ay 2007-08 4. आयकर अपील सं./It(Tp)A No.1941/Ahd/2012 – Ay 2008-09 5. आयकर अपील सं./It(Tp)A No.551/Ahd/2016 – Ay 2009-10

business income. Sr.No. Nature of Income Amount (Rs.in lacs) a) Service Income 248.00 b) Income from Investments 14.00 c) Income from UTI 34.00 d) Write Back of Provisions 64.00 e) Misc.Income i) Scrap Sales 70.47 ii) Freight Recovered 6.01 iii) Insurance claim 4.59 iv) Handling Charges 2.65 v) DEPB Income 55.39 vi) Discount on early 12.39 payments of Suppliers

GUJARAT FLUROCHEMICALS LIMITED,,BARODA vs. THE DY.CIT, CIRCLE-1(1),, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

section 88E for the securities transaction tax paid during the year. (Rs.in) Asstt.Year Amount added back to Amount added the total income back in the total income in previous Asstt.Year 2005-06 Rs.31,565/- Rs.6,02,99,64/- 2006-07 Rs.NIL Rs.31,565/- 2007-08 Rs.27,58,400/- - 2008-09 Rs.10,19,61,651/- Rs.27,58,400/- 2009-10 Rs.2

GUJARAT FLUROCHEMICALS LTD.,,BARODA vs. THE DY.CIT.,CIRCLE-1(1),, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

section 88E for the securities transaction tax paid during the year. (Rs.in) Asstt.Year Amount added back to Amount added the total income back in the total income in previous Asstt.Year 2005-06 Rs.31,565/- Rs.6,02,99,64/- 2006-07 Rs.NIL Rs.31,565/- 2007-08 Rs.27,58,400/- - 2008-09 Rs.10,19,61,651/- Rs.27,58,400/- 2009-10 Rs.2