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

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

gains' shall be computed by deducting from the full value of the consideration received or accrued as a result of the transfer, the cost of acquisition of the asset and the expenditure incurred in connection with the transfer. Section 45(4) is mutually exclusive to section 45(1). Section 45(4) categorically states that where there is a transfer

KIFS SECURITIES PVT. LTD.,AHMEDABAD vs. THE ACIT, CIRCLE-1(3), AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

price whichever is less”. There is no dispute to such disclosed income. Bone of contention relates to capital gain. Assessee has shown Short Term Capital and Long Term Capital Gain on sale of equity shares and has claimed the benefit of exemption for Long Term Capital Gain and special tax rate of 15% for Short Term Capital Gain

THE DY. CIT., CIRCLE-3,, AHMEDABAD vs. KHANDWALA INTEGRATED FINANCIAL SERVICES PVT. LTD, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

price whichever is less”. There is no dispute to such disclosed income. Bone of contention relates to capital gain. Assessee has shown Short Term Capital and Long Term Capital Gain on sale of equity shares and has claimed the benefit of exemption for Long Term Capital Gain and special tax rate of 15% for Short Term Capital Gain

KIFS SECURITIES PVT. LTD.,,AHMEDABAD vs. THE ACIT, CIRCLE-1(3), AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

price whichever is less”. There is no dispute to such disclosed income. Bone of contention relates to capital gain. Assessee has shown Short Term Capital and Long Term Capital Gain on sale of equity shares and has claimed the benefit of exemption for Long Term Capital Gain and special tax rate of 15% for Short Term Capital Gain

KIFS SECURITIES LTD.,,AHMEDABAD vs. THE JT.CIT, RANGE- 3,, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

price whichever is less”. There is no dispute to such disclosed income. Bone of contention relates to capital gain. Assessee has shown Short Term Capital and Long Term Capital Gain on sale of equity shares and has claimed the benefit of exemption for Long Term Capital Gain and special tax rate of 15% for Short Term Capital Gain

KIFS SECURITIES LTD.,,AHMEDABAD vs. THE JT.CIT, RANGE- 3,, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

price whichever is less”. There is no dispute to such disclosed income. Bone of contention relates to capital gain. Assessee has shown Short Term Capital and Long Term Capital Gain on sale of equity shares and has claimed the benefit of exemption for Long Term Capital Gain and special tax rate of 15% for Short Term Capital Gain

DY.COMMISSIONER OF INCOME TAX CIRCLE-1(3),, AHMEDABAD vs. KIFS PVT.LTD.,, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

price whichever is less”. There is no dispute to such disclosed income. Bone of contention relates to capital gain. Assessee has shown Short Term Capital and Long Term Capital Gain on sale of equity shares and has claimed the benefit of exemption for Long Term Capital Gain and special tax rate of 15% for Short Term Capital Gain

THE ACIT, CIRCLE-3,, AHMEDABAD vs. KIFS SECURITIES LIMITED,, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

price whichever is less”. There is no dispute to such disclosed income. Bone of contention relates to capital gain. Assessee has shown Short Term Capital and Long Term Capital Gain on sale of equity shares and has claimed the benefit of exemption for Long Term Capital Gain and special tax rate of 15% for Short Term Capital Gain

KIFS SECURITIES PVT. LTD.,,AHMEDABAD vs. THE ACIT, CIRCLE-1(3),, AHMEDABAD

In the result Ground No.9 of the revenue is allowed for

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

price whichever is less”. There is no dispute to such disclosed income. Bone of contention relates to capital gain. Assessee has shown Short Term Capital and Long Term Capital Gain on sale of equity shares and has claimed the benefit of exemption for Long Term Capital Gain and special tax rate of 15% for 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

price that such goods or services will ordinarily fetch in the open market. To our mind sum of Rs. 4.51 per unit of electricity only represented cost of electricity generation to the assessee and not the market value thereof. It is not in dispute that the GEB charged Rs. 5 per unit for supplying electricity to other industries including

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

price that such goods or services will ordinarily fetch in the open market. To our mind sum of Rs. 4.51 per unit of electricity only represented cost of electricity generation to the assessee and not the market value thereof. It is not in dispute that the GEB charged Rs. 5 per unit for supplying electricity to other industries including

THE DCIT, CIRCLE-1(2),, BARODA vs. M/S. PRATHAM INVESTMENTS,, BARODA

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad, Judicial Memebr आयकर अपील सं./I.T.A. Nos. 742/Ahd/2015, 3078 & 3077/Ahd/2016 With Cross Objection No. 76/Ahd/2015 & 9/Ahd/2017 & I.T.A. No. 3087/Ahd/2016 (In I.T.A. Nos. 742/Ahd/2015, 3078 & 3077/Ahd/2016) & ("नधा"रण वष" / Assessment Years : 2010-11, 2012-13 & 2013-14)

transfer and is thus chargeable to tax. It is thus contention on behalf of the Revenue that the notional difference between the market price and the cost price at which the conversion has taken place from trading asset to capital asset is taxable as business income. In essence, the central case of the Revenue is that the difference between cost

M/S. PRATHAM DEVELOPERS,,VADODARA vs. THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2),, BARODA

In the result, Ground No.4 of the assessee’s appeal is allowed in part

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad, Judicial Memebr आयकर अपील सं./I.T.A. Nos. 742/Ahd/2015, 3078 & 3077/Ahd/2016 With Cross Objection No. 76/Ahd/2015 & 9/Ahd/2017 & I.T.A. No. 3087/Ahd/2016 (In I.T.A. Nos. 742/Ahd/2015, 3078 & 3077/Ahd/2016) & ("नधा"रण वष" / Assessment Years : 2010-11, 2012-13 & 2013-14)

transfer and is thus chargeable to tax. It is thus contention on behalf of the Revenue that the notional difference between the market price and the cost price at which the conversion has taken place from trading asset to capital asset is taxable as business income. In essence, the central case of the Revenue is that the difference between cost

ZYDUS LIFESCIENCES LIMITED (FORMERLY KNOWN AS CADILA HEALTHCARE LTD.),AHMEDABAD vs. THE DCIT, CIRCLE-1(1)(1), AHMEDABAD

In the result, appeal preferred by the assessee is allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./I.T.A. No. 162/Ahd/2021 ("नधा"रण वष" / Assessment Years : 2016-17)

capital gain and other sources. During the course of assessment proceeding, it was noticed that the assessee had entered into international transaction as well specified domestic transaction. Further that, it was noticed that transfer pricing

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

transfer would be offered under the head capital gain. The Assessing Officer further stated that during the year, the assessee company has incurred administrative and financial cost to maintain and made new investment, therefore, the assessee was asked to explain why not disallowance of expenditure incurred towards earning exempt income be computed according to section 14A of the Act r.w.s

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

Gain/ Loss on transfer of leasehold land alongwith building at Jejuri in the assessment year under consideration. 13.1 That the Ld. AO / DRP erred in not accepting/considering the valuation report certified by an independent valuer in respect of the leasehold land transferred by the appellant. 14. That the Ld.AO/DRP erred on facts and in law in disallowing

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

Gain/ Loss on transfer of leasehold land alongwith building at Jejuri in the assessment year under consideration. 13.1 That the Ld. AO / DRP erred in not accepting/considering the valuation report certified by an independent valuer in respect of the leasehold land transferred by the appellant. 14. That the Ld.AO/DRP erred on facts and in law in disallowing

SHRI BALKRISHNA P.TRIVEDI,HUF,AHMEDABAD vs. THE CIT-III,, AHMEDABAD

In the result, appeal filed by the Revenue in ITA No

Bench: Shri Pradip Kumar Kedia & Smt. Madhumita Roy

transfer of land as LTCG instead of STCG on the basis additional evidences admitted in contravention of Rule 46A. ITA Nos. 1225/Ahd/13, 1229 & 997/Ahd/2016 [Balkrishna P. Trivedi HUF] A.Y. 2008-09 - 8 - (3) The Ld.CIT(A) has erred on facts and in law in directing the AO to allow exemption of Rs.50,00,000/- u/s 54EC of the Act Rs.51