DCIT, CIRCLE-2(1)(1), AHMEDABAD vs. ELITECORE TECHNOLOGIES PRIVATE LIMITED, AHMEDABAD

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokar, Accountnat Member आयकर अपील सं /Ita No.1728/Ahd/2019 "नधा"रण वष" /Assessment Year : 2011-12 The Dy.Cit Elitecore Technologies Pvt.Ltd. Circle-2(1)(1) बनाम/ (Now Merged With Sterlite Ahmedabad Technolgies Limited) V/S. 904, Silicon Tower, B/H. Pariseema Building Off. C.G. Road Ahmedabad, Gujarat-380 009 "थायी लेखा सं./Pan: Aaace 6815G (अपीलाथ"/ Appellant) ("" यथ"/ Respondent) Assessee By : Shri Dhinal Shah, Ar Revenue By : Shri Atul Pandey, Sr.Dr सुनवाई क" तार"ख/Date Of Hearing : 27/06/2024 घोषणा क" तार"ख /Date Of Pronouncement: 12/07/2024 आदेश/O R D E R Per Shri Makarand V. Mahadeokar, Am: This Appeal Is Filed By The Revenue As Against The Order Passed By The Ld.Commissioner Of Income-Tax(Appeals)-10, Ahmedabad [Hereinafter Referred To As “The Ld.Cit(A)”], Dated 04/09/2019, Arising Out Of The Assessment Order Passed By The Assessing Officer (Ao) Under Section 143(3) Dcit Vs. Elitecore Technologies Pvt.Ltd. Asst. Year : 2011-12

price. The Prime Lending Rate's comprehensiveness negates the necessity for further adjustments. (v) That, the Assessee’s method of calculating interest has been consistently applied in previous and subsequent financial years without challenge, underscoring its reliability and appropriateness. (vi) That, the Ld.CIT(A) has thoroughly addressed and resolved the issues raised, aligning with the principles of fair benchmarking

TORRENT PHARMACEUTICALS LTD.,,AHMEDABAD vs. ACIT, CIRCLE-4(1)(2),, AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

transfer pricing on account of capital account transaction being the acquisition of shares. Merely, there was a delay in the allotment of shares by the AE to the assessee, such delay cannot change the character of the transaction as loan. We note that the Delhi bench of ITAT in the case of Bharti Airtel Limited vs. ACIT reported

THE ACIT, CIRCLE-1(2), AHMEDABAD vs. NEPTUNE PLASTIC CORPORATION, AHMEDABAD

In the result, the appeal filed by the Revenue is partly allowed

Bench: Ms. Suchitra Kamble & Shri Narendra Prasad Sinha

Section 147 of the Income Tax Act, 1961 (in short ‘the Act’) after recording proper reason. The assessment was completed u/s. 143(3) r.w.s. 147 of the Act on 29.12.2018 at total income of Rs.3,07,97,263/-. 3. Aggrieved with the order of the AO, the assessee had filed an appeal before the First Appellate Authority, which was decided

THE ACTI , CIRCLE-3(1)(1),, AHMEDABAD vs. NIRMA LIMITED,, AHMEDABAD

transferred to Aculife\nHealthcare Pvt. Ltd. with effect from 01.10.2014.\n3. For the Assessment Year 2015–16, the assessee filed its\noriginal return of income on 28.11.2015 declaring total income at\nNil and book profit u/s 115JB at Rs.2,46,69,60,565/-. A revised\nITA Nos.1412-1413/Ahd/2019 with others\nNirma Limited Vs. DCIT\n Assessment Years

NIRMA LIMITED,,AHMEDABAD vs. THE DCTI , CIRCLE-3(1)(1),, AHMEDABAD

transferred to Aculife\nHealthcare Pvt. Ltd. with effect from 01.10.2014.\n3. For the Assessment Year 2015–16, the assessee filed its\noriginal return of income on 28.11.2015 declaring total income at\nNil and book profit u/s 115JB at Rs.2,46,69,60,565/-. A revised\nreturn was filed on 23.03.2017 declaring total income of Rs.\n46,72,792/-. The case

NIRMA LIMITED,,AHMEDABAD vs. THE DCTI , CIRCLE-3(1)(1),, AHMEDABAD

transferred to Aculife\nHealthcare Pvt. Ltd. with effect from 01.10.2014.\n3. For the Assessment Year 2015–16, the assessee filed its\noriginal return of income on 28.11.2015 declaring total income at\nNil and book profit u/s 115JB at Rs.2,46,69,60,565/-. A revised\nITA Nos.1412-1413/Ahd/2019 with others\nNirma Limited Vs. DCIT\n Assessment Years

THE ACTI , CIRCLE-3(1)(1),, AHMEDABAD vs. NIRMA LIMITED,, AHMEDABAD

transferred to Aculife\nHealthcare Pvt. Ltd. with effect from 01.10.2014.\n3. For the Assessment Year 2015–16, the assessee filed its\noriginal return of income on 28.11.2015 declaring total income at\nNil and book profit u/s 115JB at Rs.2,46,69,60,565/-. A revised\nITA Nos.1412-1413/Ahd/2019 with others\nNirma Limited Vs. DCIT\n Assessment Years

VIJAY KANTILAL VORA,VADODARA vs. DCIT, CIRCLE-4(2)(1), VADODARA

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar, Accountnat Member Assessment Year : 2011-12 Vijay Kantilal Vora The Dcit 201, Shrushti Flats, Vs Circle-4(2)(1), Opp. Geb Sub Station, Vadodara Gotri Road, Vadodara-390021 Pan: Aakpv3542 J अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Sunil Talati, Ca Revenue By : Shri Sudhakar Verma, Sr.Dr सुनवाई क" तार"ख/Date Of Hearing : 27/05/2024 घोषणा क" तार"ख /Date Of Pronouncement: 30/05/2024 आदेश/O R D E R Per Makarand V. Mahadeokarthis Appeal By The Assessee Is Directed Against The Order Of The Commissioner Of Income Tax (Appeals)- 4 Vadodara (Hereinafter Referred As “Ld. Cit(A)” Dated 30.1.2018, Relating To The Assessment Order Passed By The Assessing Officer (Hereinafter Referred As “Ao”) Under Section 144 R.W.S. 147 Of The Income Tax Act, 1961(Hereinafter Referred As “The Act” For The Assessment Year2011-12. 2. Assessee Has Taken Following Grounds Of Appeal: Vijay Kantilal Vora Vs. Dcit Asst. Year : 2011-12

201, Shrushti Flats, Vs Circle-4(2)(1), Opp. GEB Sub Station, Vadodara Gotri Road, Vadodara-390021 PAN: AAKPV3542 J अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri Sunil Talati, CA Revenue by : Shri Sudhakar Verma, Sr.DR सुनवाई क" तार"ख/Date of Hearing : 27/05/2024 घोषणा क" तार"ख /Date of Pronouncement: 30/05/2024 आदेश/O R D E R PER MAKARAND

ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), AHMEDABAD vs. MAHALAXMI INFRACONTRACT PRIVATE LIMITED, AHMEDABAD

Bench: Shri Ramit Kochar & Ms. Madhumita Royआयकर अपील सं./I.T.A. Nos. 484, 485 & 486/Ahd/2023 ("नधा"रण वष" / Assessment Years : 2015-16, 2017-18 & 2018-19) बनाम/ Assistant Commissioner Mahalaxmi Infracontract Of Income Tax Private Limited Vs. Central Circle-1(4), B-21, Corporate House, Ahmedabad Opp-Pakwan-Ii, S. G. Highway, Bodakdev, Ahmedabad "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aagcm4615E (Appellant) .. (Respondent) Assessee By : Shri S. N. Divatia & Shri B. K. Patel, A.Rs. Shri Sudhendu Das, Cit. Dr Revenue By : सुनवाई क" तार"ख / Date Of 22/01/2024 & Hearing घोषणा क" तार"ख /Date Of 31/05/2024 Pronouncement

Section 32 of the Income Tax Act, 1961 - Depreciation - Allowance/Rate of Assessment years 1991-92 and 1996-97-whether higher rate of depreciation is also admissible when motor lorry is used by assessee in his own business of transportation of goods on hire - In the judgement Hon'ble court Held- Yes' ITA Nos. 484 to 486/Ahd/2023 (ACIT Vs. Mahalaxmi Inferacontract

ASSTT. COMMISSIONER OF INCOME TAX, AHMEDABAD vs. MAHALAXMI INFRACONTRACT PRIVATE LIMITED, AHMEDABAD

Bench: Shri Ramit Kochar & Ms. Madhumita Royआयकर अपील सं./I.T.A. Nos. 484, 485 & 486/Ahd/2023 ("नधा"रण वष" / Assessment Years : 2015-16, 2017-18 & 2018-19) बनाम/ Assistant Commissioner Mahalaxmi Infracontract Of Income Tax Private Limited Vs. Central Circle-1(4), B-21, Corporate House, Ahmedabad Opp-Pakwan-Ii, S. G. Highway, Bodakdev, Ahmedabad "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aagcm4615E (Appellant) .. (Respondent) Assessee By : Shri S. N. Divatia & Shri B. K. Patel, A.Rs. Shri Sudhendu Das, Cit. Dr Revenue By : सुनवाई क" तार"ख / Date Of 22/01/2024 & Hearing घोषणा क" तार"ख /Date Of 31/05/2024 Pronouncement

Section 32 of the Income Tax Act, 1961 - Depreciation - Allowance/Rate of Assessment years 1991-92 and 1996-97-whether higher rate of depreciation is also admissible when motor lorry is used by assessee in his own business of transportation of goods on hire - In the judgement Hon'ble court Held- Yes' ITA Nos. 484 to 486/Ahd/2023 (ACIT Vs. Mahalaxmi Inferacontract

ASSTT. COMMISSIONER OF INCOME TAX,, CENTRAL CIRCLE - 1(4), AHMEDABAD vs. MAHALAXMI INFRACONTRACT PVT. LTD., AHMEDABAD

Bench: Shri Ramit Kochar & Ms. Madhumita Royआयकर अपील सं./I.T.A. Nos. 484, 485 & 486/Ahd/2023 ("नधा"रण वष" / Assessment Years : 2015-16, 2017-18 & 2018-19) बनाम/ Assistant Commissioner Mahalaxmi Infracontract Of Income Tax Private Limited Vs. Central Circle-1(4), B-21, Corporate House, Ahmedabad Opp-Pakwan-Ii, S. G. Highway, Bodakdev, Ahmedabad "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aagcm4615E (Appellant) .. (Respondent) Assessee By : Shri S. N. Divatia & Shri B. K. Patel, A.Rs. Shri Sudhendu Das, Cit. Dr Revenue By : सुनवाई क" तार"ख / Date Of 22/01/2024 & Hearing घोषणा क" तार"ख /Date Of 31/05/2024 Pronouncement

Section 32 of the Income Tax Act, 1961 - Depreciation - Allowance/Rate of Assessment years 1991-92 and 1996-97-whether higher rate of depreciation is also admissible when motor lorry is used by assessee in his own business of transportation of goods on hire - In the judgement Hon'ble court Held- Yes' ITA Nos. 484 to 486/Ahd/2023 (ACIT Vs. Mahalaxmi Inferacontract

ARUNABEN KISHORKUMAR MANDALIA,AHMEDABAD vs. THE PR.CIT, CENTRAL, AHMEDABAD

In the result, the appeal preferred by the assessee is allowed

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinhaआयकर अपील सं./Ita Nos. 1052 To 1054/Ahd/2025 िनधा"रण वष"/Asstt. Years: 2017-18 To 2020-21 Arunaben Kishorkumar Mandalia, The Principal बनामVs 12, Ashwamegh-Iii, Commissioner Of . 132 Feet Ring Road, Income Tax (Central), Satellite, Ahmedabad. Ahmedabad-380015. Pan: Ablpm2848Q (अपीलाथ" /Appellant ( ""यथ" /Respondent) Assessee By : Shri M K Patel, With Shri Vartik Choksi, Ars Revenue By : Shri Sher Singh, Cit.Dr

price of Rs.18.11 crores. Shri Suresh R Thakkar had confirmed that these seized documents were in respect of sale of land by Rajeshbhai Brahmbhatt and Arunaben K Zhaveri to one Shri N. K. Patel of Sun Builder Group. He had also stated that cash and cheque payments were involved in this transaction and that the deal was facilitated through

ARUNABEN KISHORKUMAR MANDALIA,AHMEDABAD vs. THE PR.CIT, CENTRAL, AHMEDABAD

In the result, the appeal preferred by the assessee is allowed

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinhaआयकर अपील सं./Ita Nos. 1052 To 1054/Ahd/2025 िनधा"रण वष"/Asstt. Years: 2017-18 To 2020-21 Arunaben Kishorkumar Mandalia, The Principal बनामVs 12, Ashwamegh-Iii, Commissioner Of . 132 Feet Ring Road, Income Tax (Central), Satellite, Ahmedabad. Ahmedabad-380015. Pan: Ablpm2848Q (अपीलाथ" /Appellant ( ""यथ" /Respondent) Assessee By : Shri M K Patel, With Shri Vartik Choksi, Ars Revenue By : Shri Sher Singh, Cit.Dr

price of Rs.18.11 crores. Shri Suresh R Thakkar had confirmed that these seized documents were in respect of sale of land by Rajeshbhai Brahmbhatt and Arunaben K Zhaveri to one Shri N. K. Patel of Sun Builder Group. He had also stated that cash and cheque payments were involved in this transaction and that the deal was facilitated through

ARUNABEN KISHORKUMAR MANDALIA,AHMEDABAD vs. THE PR.CIT, CENTRAL, AHMEDABAD

In the result, the appeal preferred by the assessee is allowed

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinhaआयकर अपील सं./Ita Nos. 1052 To 1054/Ahd/2025 िनधा"रण वष"/Asstt. Years: 2017-18 To 2020-21 Arunaben Kishorkumar Mandalia, The Principal बनामVs 12, Ashwamegh-Iii, Commissioner Of . 132 Feet Ring Road, Income Tax (Central), Satellite, Ahmedabad. Ahmedabad-380015. Pan: Ablpm2848Q (अपीलाथ" /Appellant ( ""यथ" /Respondent) Assessee By : Shri M K Patel, With Shri Vartik Choksi, Ars Revenue By : Shri Sher Singh, Cit.Dr

price of Rs.18.11 crores. Shri Suresh R Thakkar had confirmed that these seized documents were in respect of sale of land by Rajeshbhai Brahmbhatt and Arunaben K Zhaveri to one Shri N. K. Patel of Sun Builder Group. He had also stated that cash and cheque payments were involved in this transaction and that the deal was facilitated through