THE JT. CIT, RANGE-4, AHMEDABAD vs. M/S. MASTEK LTD.,, AHMEDABAD

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

section 2(47) as amended to the present proceedings. The application would depend upon the facts on record or those may be permitted to be brought on record. 219. There is another aspect. The petitioner may well contend that the amended definition makes no difference it being clarificatory in nature. The provisions thereof must, therefore, be deemed always to have

MASTEK LIMITED,,AHMEDABAD vs. THE DY.CIT, (OSD) - 1, CIRCLE-4,, AHMEDABAD

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

section 2(47) as amended to the present proceedings. The application would depend upon the facts on record or those may be permitted to be brought on record. 219. There is another aspect. The petitioner may well contend that the amended definition makes no difference it being clarificatory in nature. The provisions thereof must, therefore, be deemed always to have

MASTEK LIMITED,AHMEDABAD vs. THE JT.CIT, RANG4,, AHMEDABAD

Bench: Shri Pramod Kumar & Ms Madhumita Roysl. Ita No(S) Appeal(S) By Asset. Nos Year(S) Appellant Vs. Respondent Appellant Respondent 1. 1188/Ahd/2015 2009-10 M/S Mastek Ltd., D.C.I.T., (Osd)-1,Circle-4, 804/805Ahmedabad House, Opp. C.N. Vidyalaya, Nr. Ambawadi Circle, Ambawadi, Ahmedabad -380 006 Pan:Aaacm9908Q 2. 1852/Ahd/2015 2009-10 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad. Ahmedabad 3. It(Tp) 172/Ahd/2016 2010-11 M/S. Mastek Ltd. J.C.I.T., Ahmedabad Range-4, Ahmedabad 4. It(Tp) 514/Ahd/2016 2010-11 A.C.I.T., M/S. Mastek Ltd. Circle-2(1)(2), Ahmedabad Ahmedabad Assessee By : Shri S. N. Soparkar & Parin Shah, A.Rs. Revenue By : Shri Krishna Murari, Cit- D.R.

section 2(47) as amended to the present proceedings. The application would depend upon the facts on record or those may be permitted to be brought on record. 219. There is another aspect. The petitioner may well contend that the amended definition makes no difference it being clarificatory in nature. The provisions thereof must, therefore, be deemed always to have

THE DCIT, CIRCLE-1(3), AHMEDABAD vs. EDELWEISS BROKING LTD., AHMEDABAD

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

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

price of shares had been credited in the respective accounts. The CIT(A) follows special bench decision of the tribunal (2010) 5 ITR (Trib) 1 (Bom.) DCIT vs. Shreyas S. Morakhia as upheld in (2012) 342 ITR 285 (Bom.) CIT vs. Shreyas S. Morakhia that value of the share transacted by a broker-assessee on behalf of the concerned client

THE DCIT, CIRCLE-1(3), AHMEDABAD vs. EDELWEISS FINANCIAL ADVISORS LTD., ( FORMERLY KNOWN ANAGRAM STOCK BROKING LTD.,), AHMEDABAD

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

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

price of shares had been credited in the respective accounts. The CIT(A) follows special bench decision of the tribunal (2010) 5 ITR (Trib) 1 (Bom.) DCIT vs. Shreyas S. Morakhia as upheld in (2012) 342 ITR 285 (Bom.) CIT vs. Shreyas S. Morakhia that value of the share transacted by a broker-assessee on behalf of the concerned client

M/S. EDELWEISS BROKING LTD. ( AMALGAMATING COMPANY EDELWEISS FINANCIAL ADVISORS LTD.),AHMEDABAD vs. THE JT. CIT, RANGE-3,, AHMEDABAD

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

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

price of shares had been credited in the respective accounts. The CIT(A) follows special bench decision of the tribunal (2010) 5 ITR (Trib) 1 (Bom.) DCIT vs. Shreyas S. Morakhia as upheld in (2012) 342 ITR 285 (Bom.) CIT vs. Shreyas S. Morakhia that value of the share transacted by a broker-assessee on behalf of the concerned client

BARODA CRICKET ASSOCIATION,,BARODA vs. THE DY.CIT, CIRCLE-5., BARODA

In the result, ITA No. 2841/Ahd/17, i

transferred to SCAs as TV subsidy and IPL subvention as their share and not as corpus. It is the SCAs who have treated them in different fashion in their own financial statements. However, this does not mean that the nature of receipt changes. 10.8 Therefore, I am of the considered opinion that "receipts from BCCI on account of sale

BARODA CRICKET ASSOCIATION,,BARODA vs. THE DY.CIT, CIRCLE-5., BARODA

In the result, ITA No. 2841/Ahd/17, i

transferred to SCAs as TV subsidy and IPL subvention as their share and not as corpus. It is the SCAs who have treated them in different fashion in their own financial statements. However, this does not mean that the nature of receipt changes. 10.8 Therefore, I am of the considered opinion that "receipts from BCCI on account of sale

BARODA CRICKET ASSOCIATION,,BARODA vs. THE JT. CIT, RANGE-5,, BARODA

In the result, ITA No. 2841/Ahd/17, i

transferred to SCAs as TV subsidy and IPL subvention as their share and not as corpus. It is the SCAs who have treated them in different fashion in their own financial statements. However, this does not mean that the nature of receipt changes. 10.8 Therefore, I am of the considered opinion that "receipts from BCCI on account of sale

SAURASHTRA CRICKET ASSOCIATION,,RAJKOT vs. THE DY. CIT (EXEMPTION), CIRCLE-2,, AHMEDABAD

In the result, ITA No. 2841/Ahd/17, i

transferred to SCAs as TV subsidy and IPL subvention as their share and not as corpus. It is the SCAs who have treated them in different fashion in their own financial statements. However, this does not mean that the nature of receipt changes. 10.8 Therefore, I am of the considered opinion that "receipts from BCCI on account of sale

SAURASHTRA CRICKET ASSOCIATION,,RAJKOT vs. THE DY. CIT (EXEMPTION), CIRCLE-2,, AHMEDABAD

In the result, ITA No. 2841/Ahd/17, i

transferred to SCAs as TV subsidy and IPL subvention as their share and not as corpus. It is the SCAs who have treated them in different fashion in their own financial statements. However, this does not mean that the nature of receipt changes. 10.8 Therefore, I am of the considered opinion that "receipts from BCCI on account of sale

M/S. GUJARAT CRICKET ASSOCIATION,,AHMEDABAD vs. THE DEPUTY COMMISSIONER OF INCOME TAX EXEPTIONS, CIRCLE-1,, AHMEDABAD

In the result, ITA No. 2841/Ahd/17, i

transferred to SCAs as TV subsidy and IPL subvention as their share and not as corpus. It is the SCAs who have treated them in different fashion in their own financial statements. However, this does not mean that the nature of receipt changes. 10.8 Therefore, I am of the considered opinion that "receipts from BCCI on account of sale

SAURASHTRA CRICKET ASSOCIATION,,RAJKOT vs. THE DY. CIT (EXEMPTION), CIRCLE-2,, AHMEDABAD

In the result, ITA No. 2841/Ahd/17, i

transferred to SCAs as TV subsidy and IPL subvention as their share and not as corpus. It is the SCAs who have treated them in different fashion in their own financial statements. However, this does not mean that the nature of receipt changes. 10.8 Therefore, I am of the considered opinion that "receipts from BCCI on account of sale

GUJARAT CRICKET ASSOCIATION,AHMEDABAD vs. THE JT..DIRECTOR OF INCOME TAX(EXEMPTION),, AHMEDABAD

In the result, ITA No. 2841/Ahd/17, i

transferred to SCAs as TV subsidy and IPL subvention as their share and not as corpus. It is the SCAs who have treated them in different fashion in their own financial statements. However, this does not mean that the nature of receipt changes. 10.8 Therefore, I am of the considered opinion that "receipts from BCCI on account of sale

M/S. GUJARAT CRICKET ASSOCIATION,,AHMEDABAD vs. THE JT.. DIRECTOR OF INCOME TAX (EXEMPTION),, AHMEDABAD

In the result, ITA No. 2841/Ahd/17, i

transferred to SCAs as TV subsidy and IPL subvention as their share and not as corpus. It is the SCAs who have treated them in different fashion in their own financial statements. However, this does not mean that the nature of receipt changes. 10.8 Therefore, I am of the considered opinion that "receipts from BCCI on account of sale

M/S. GUJARAT CRICKET ASSOCIATION,,AHMEDABAD vs. THE JT.. DIRECTOR OF INCOME TAX (EXEMPTION),, AHMEDABAD

In the result, ITA No. 2841/Ahd/17, i

transferred to SCAs as TV subsidy and IPL subvention as their share and not as corpus. It is the SCAs who have treated them in different fashion in their own financial statements. However, this does not mean that the nature of receipt changes. 10.8 Therefore, I am of the considered opinion that "receipts from BCCI on account of sale

ADANI ENTERPRISES LTD.,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, AHMEDABAD

Appeal of the Revenue is hereby dismissed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedasstt. Sr.No.

Section 37(1) of the Income-tax Act, 1961, read with sections 198 and 309 of the Companies Act, 1956 - Business expenditure - Allowability of - Assessment year 1979-80 - Whether when vehicles belonging to an assessee-company are used by its directors, for personal or other purposes, it would be wrong to hold that vehicles are personally used by company, because

TORRENT PHARMACEUTICALS LTD.,,AHMEDABAD vs. THE DEPUTY COMMISSIONER OF INCOME TAX (OSD) CIRCLE-8,, AHMEDABAD

In the result appeal of the Revenue is partly allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita.No.1285 & 1286/Ahd/2017 िनधा"रण वष"/Asstt. Year: 2009-10 & 2010-11 & Ita No.1396 & 1397/Ahd/2018 Asstt.Year 2011-12 & 2012-13 Torrent Pharmaceuticals Ltd. Acit, Circle-4(1)(2) Torrent House Ahmedabad. Vs. Off.Ashram Road Ahmedabad 380 009. आयकर अपील सं./Ita.No.1327 & 1328/Ahd/2017 िनधा"रण वष"/ Asstt. Year: 2009-10 & 2010-11 & आयकर अपील सं./Ita.No.1414 & 1415/Ahd/2018 िनधा"रण वष"/ Asstt. Year: 2011-12 & 2012-13 Acit, Circle-4(1)(2) Torrent Pharmaceuticals Ltd. Ahmedabad. Torrent House Vs. Off.Ashram Road Ahmedabad 380 009. (Applicant) (Responent) Assessee By : Shri Vartik Choksi, With Shri Biren Shah, Ars. Revenue By : Shri Mohd. Usman, Cit-Dr सुनवाई क" तारीख/Date Of Hearing : 23/11/2021 घोषणा क" तारीख /Date Of Pronouncement: 22/02/2022 आदेश/O R D E R Per Bench

section (5) of Section 80-IA. In this case, the question that arose for consideration ITA.Nos.1285/Ahd/2017 & 7 others A.Y.2009-10 38 before this Court related to computation of the profits for the purpose of deduction under section 80-E, as it then existed, after setting off the loss incurred by the assessee in the manufacture of alloy steels. Section