THE ACIT,(OSD)CIRCLE-8,, AHMEDABAD vs. THE TORRENT PHARMACEUTICALS LTD.,, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 907/Ahd/2012 2007-08 M/S. Torrent Add. Cit, Pharmaceuticals Ltd., Range – 8, Torrent House, Off. Ahmedabad. Ashram Road, Ahmedabad. Pan No. Aaact 5456 A 2. 938/Ahd/2012 2007-08 The Acit, M/S. Torrent Ahmedabad. Pharmaceuticals Ltd. Ahmedabad. 3. 1634/Ahd/2012 2008-09 M/S. Torrent The Acit, Pharmaceuticals Ltd. Ahmedabad Ahmedabad. 4. 1725/Ahd/2012 2008-09 The Acit M/S. Torrent Ahmedabad. Pharmaceuticals Ltd., Ahmedabad.

253 and submitted that there could not be any adjustment in corporate guarantee fees because of the order of this Tribunal in the case of Micro Ink Ltd vs. ACIT (63 taxmann.com 353). Therefore there cannot be any adjustment in assessee’s profit for such corporate guarantee furnished to the bank. 7. On the other hand the Ld. DR before

THE TORRENT PHARMACEUTICALS,AHMEDABAD vs. THE ADDITIONAL CIT, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 907/Ahd/2012 2007-08 M/S. Torrent Add. Cit, Pharmaceuticals Ltd., Range – 8, Torrent House, Off. Ahmedabad. Ashram Road, Ahmedabad. Pan No. Aaact 5456 A 2. 938/Ahd/2012 2007-08 The Acit, M/S. Torrent Ahmedabad. Pharmaceuticals Ltd. Ahmedabad. 3. 1634/Ahd/2012 2008-09 M/S. Torrent The Acit, Pharmaceuticals Ltd. Ahmedabad Ahmedabad. 4. 1725/Ahd/2012 2008-09 The Acit M/S. Torrent Ahmedabad. Pharmaceuticals Ltd., Ahmedabad.

253 and submitted that there could not be any adjustment in corporate guarantee fees because of the order of this Tribunal in the case of Micro Ink Ltd vs. ACIT (63 taxmann.com 353). Therefore there cannot be any adjustment in assessee’s profit for such corporate guarantee furnished to the bank. 7. On the other hand the Ld. DR before

THE ACIT, CIRCLE-8,, AHMEDABAD vs. THE TORRENT PHARMACEUTICALS, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roysl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 907/Ahd/2012 2007-08 M/S. Torrent Add. Cit, Pharmaceuticals Ltd., Range – 8, Torrent House, Off. Ahmedabad. Ashram Road, Ahmedabad. Pan No. Aaact 5456 A 2. 938/Ahd/2012 2007-08 The Acit, M/S. Torrent Ahmedabad. Pharmaceuticals Ltd. Ahmedabad. 3. 1634/Ahd/2012 2008-09 M/S. Torrent The Acit, Pharmaceuticals Ltd. Ahmedabad Ahmedabad. 4. 1725/Ahd/2012 2008-09 The Acit M/S. Torrent Ahmedabad. Pharmaceuticals Ltd., Ahmedabad.

253 and submitted that there could not be any adjustment in corporate guarantee fees because of the order of this Tribunal in the case of Micro Ink Ltd vs. ACIT (63 taxmann.com 353). Therefore there cannot be any adjustment in assessee’s profit for such corporate guarantee furnished to the bank. 7. On the other hand the Ld. DR before

DY.COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, AHMEDABAD vs. M/S. LAMDA THERAPEUTIC RESEARCH LTD.,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 14A read with rule 8D of Income Tax Rule. ITA No.3492/Ahd/2015 and 5 others A.Y. 2010-11 44 65. The AO during the assessment proceedings found that the assessee has made huge investments amounting to "59,11,96,725/- which will generate the exempted income. Accordingly, the AO was of the view that the disallowance under section 14A read

LAMBDA THERAPEUTIC RESEARCH LIMITED,,AHMEDABAD vs. THE JT. CIT, RANGE-4,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 14A read with rule 8D of Income Tax Rule. ITA No.3492/Ahd/2015 and 5 others A.Y. 2010-11 44 65. The AO during the assessment proceedings found that the assessee has made huge investments amounting to "59,11,96,725/- which will generate the exempted income. Accordingly, the AO was of the view that the disallowance under section 14A read

THE DCIT, CIRCLE-2(1)(2),, AHMEDABAD vs. M/S. LAMBDA THERAPEUTIC RESEARCH LTD.,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 14A read with rule 8D of Income Tax Rule. ITA No.3492/Ahd/2015 and 5 others A.Y. 2010-11 44 65. The AO during the assessment proceedings found that the assessee has made huge investments amounting to "59,11,96,725/- which will generate the exempted income. Accordingly, the AO was of the view that the disallowance under section 14A read

LAMBDA THERAPEUTIC RESEARCH LTD.,,AHMEDABAD vs. DCIT CIRCLE-2(1) (2),, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 14A read with rule 8D of Income Tax Rule. ITA No.3492/Ahd/2015 and 5 others A.Y. 2010-11 44 65. The AO during the assessment proceedings found that the assessee has made huge investments amounting to "59,11,96,725/- which will generate the exempted income. Accordingly, the AO was of the view that the disallowance under section 14A read

LAMBDA THERAPEUTIC RESEARCH LIMITED,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 14A read with rule 8D of Income Tax Rule. ITA No.3492/Ahd/2015 and 5 others A.Y. 2010-11 44 65. The AO during the assessment proceedings found that the assessee has made huge investments amounting to "59,11,96,725/- which will generate the exempted income. Accordingly, the AO was of the view that the disallowance under section 14A read

THE ACIT, CIRCLE-2(1)(2),, AHMEDABAD vs. LAMBDA THERAPEUTIC RESEARCH LTD.,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 14A read with rule 8D of Income Tax Rule. ITA No.3492/Ahd/2015 and 5 others A.Y. 2010-11 44 65. The AO during the assessment proceedings found that the assessee has made huge investments amounting to "59,11,96,725/- which will generate the exempted income. Accordingly, the AO was of the view that the disallowance under section 14A read

ADANI ENTERPRISES LTD.,AHMEDABAD vs. THE ADDL. CIT,RANGE-1, AHMEDABAD

In the result, the appeal of the Assessing Officer for the assessment year 2010-11 is dismissed

1,56,62,600 U/s. 14A while computing total income and AO has not given any cogent reasons for not satisfying with the corrections of claim of appellant as provide in section 14A(2). (B) On the facts and in the circumstances of the case, the learned C.I.T. (Appeals) erred in not deleting proportionate disallowance of interest expenditure

ADANI ENTERPRISES LTD.,AHMEDABAD vs. THE ADDL. CIT,RANGE-1, AHMEDABAD

In the result, the appeal of the Assessing Officer for the assessment year 2010-11 is dismissed

1,56,62,600 U/s. 14A while computing total income and AO has not given any cogent reasons for not satisfying with the corrections of claim of appellant as provide in section 14A(2). (B) On the facts and in the circumstances of the case, the learned C.I.T. (Appeals) erred in not deleting proportionate disallowance of interest expenditure

THE ADDL. CIT, RANGE-1,, AHMEDABAD vs. M/S. ADANI ENTERPRISES LTD.,, AHMEDABAD

In the result, the appeal of the Assessing Officer for the assessment year 2010-11 is dismissed

1,56,62,600 U/s. 14A while computing total income and AO has not given any cogent reasons for not satisfying with the corrections of claim of appellant as provide in section 14A(2). (B) On the facts and in the circumstances of the case, the learned C.I.T. (Appeals) erred in not deleting proportionate disallowance of interest expenditure

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

In the result, the appeal of the Assessing Officer for the assessment year 2010-11 is dismissed

1,56,62,600 U/s. 14A while computing total income and AO has not given any cogent reasons for not satisfying with the corrections of claim of appellant as provide in section 14A(2). (B) On the facts and in the circumstances of the case, the learned C.I.T. (Appeals) erred in not deleting proportionate disallowance of interest expenditure

ADANI ENTERPRISES LTD.,,AHMEDABAD vs. THE ADDL.CIT.,RANGE-1,, AHMEDABAD

In the result, the appeal of the Assessing Officer for the assessment year 2010-11 is dismissed

1,56,62,600 U/s. 14A while computing total income and AO has not given any cogent reasons for not satisfying with the corrections of claim of appellant as provide in section 14A(2). (B) On the facts and in the circumstances of the case, the learned C.I.T. (Appeals) erred in not deleting proportionate disallowance of interest expenditure

THE DCIT, CIRCLE-1,, AHMEDABAD vs. ADANI ENTERPRISES LTD.,, AHMEDABAD

In the result, the appeal of the Assessing Officer for the assessment year 2010-11 is dismissed

1,56,62,600 U/s. 14A while computing total income and AO has not given any cogent reasons for not satisfying with the corrections of claim of appellant as provide in section 14A(2). (B) On the facts and in the circumstances of the case, the learned C.I.T. (Appeals) erred in not deleting proportionate disallowance of interest expenditure

DCIT CIRCLE-3(3), AHMEDABAD vs. SHRI ALPESHKUMAR C.PATEL, AHMEDABAD

In the result, the appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed & Shri T.R. Senthil Kumarआयकर अपील सं./Ita No. 1908/Ahd/2018 िनधा"रण वष"/Asstt. Year: 2011-2012 Alpeshkumar C. Patel, A.C.I.T., 503, Milestone Building, Vs. Circle-3(3), Drive In Road, Ahmedabad. Thaltej, Ahmedabad-380052. Pan: Aeapp9489G

price will jump to that extent until and unless some material is available on record. Even at the time of hearing, a question was put up to the learned counsel appearing on behalf of the assessee about the value of the land for the purpose of Stamp duty, it was communicated to us that the land was transferred

KALPATARU POWER TRANSMISSION LTD.,,GANDHINAGAR vs. THE DY. CIT, GANDHINAGAR CIRCLE,, GANDHINAGAR

Appeal of the assessee is dismissed

253 (Ahmedabad) 10. At this juncture, Ld. Counsel for the assessee was asked at bar to demonstrate with evidence as to how the loan given in the present case would qualify as quasi capital and or given for commercial expediency of the assessee as were the facts in the case of Micro Inks Ltd. (supra) referred

KALPATARU POWER TRANSMISSION LTD.,,GANDHINAGAR vs. THE DY. CIT, GANDHINAGAR CIRCLE,, GANDHINAGAR

Appeal of the assessee is dismissed

253 (Ahmedabad) 10. At this juncture, Ld. Counsel for the assessee was asked at bar to demonstrate with evidence as to how the loan given in the present case would qualify as quasi capital and or given for commercial expediency of the assessee as were the facts in the case of Micro Inks Ltd. (supra) referred