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

Appeal of the assessee is dismissed

Price adjustment made u/s. 92CA(3) of the Act. 38. Ground of appeal no. 1 is therefore dismissed. 39. Ground no. 2 reads as under: 2. Whether on the facts & circumstances of the case, the Ld CIT(A) was justified in deleting the addition made on profit on sale of carbon credit of Rs.5,25,41,076/ 40. The issue

THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), AHMEDABAD vs. N K PROTEINS PRIVATE LIMITED, AHMEDABAD

In the result, no question of law arises

Bench: Dr. B.R.R. Kumar, Vice-Shri T.R. Senthil Kumar

price fluctuations; or (c) a contract entered into by a member of a forward market or a stock exchange in the course of any transaction in the nature of jobbing or arbitrage to guard against loss which may arise in the ordinary course of his business as such member; [or] (d) an eligible transaction in respect of trading in derivatives

N K PROTEINS PVT. LIMITED,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE- 3(1)(1), AHMEDABAD

In the result, no question of law arises

Bench: Dr. B.R.R. Kumar, Vice-Shri T.R. Senthil Kumar

price fluctuations; or (c) a contract entered into by a member of a forward market or a stock exchange in the course of any transaction in the nature of jobbing or arbitrage to guard against loss which may arise in the ordinary course of his business as such member; [or] (d) an eligible transaction in respect of trading in derivatives

DCIT, CIRCLE-2(1)(1),, BARODA vs. M/S. SUN PHARMACEUTICALS INDUSTRIES LTD. , BARODA

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

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

32(1)(iia) on such capital expenditure disallowed. 5. Re: Disallowance on account of alleged Bogus Purchases Rs. 51.712/- : 5.1. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) grossly erred in disallowing purchases made from M/s M.R. Corporation and M/s Savita International as bogus purchases based on the information received from

SUN PHARMACEUTICALS INDUSTRIES LIMITED,,VADODARA vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1)(1), BARODA

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

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

32(1)(iia) on such capital expenditure disallowed. 5. Re: Disallowance on account of alleged Bogus Purchases Rs. 51.712/- : 5.1. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) grossly erred in disallowing purchases made from M/s M.R. Corporation and M/s Savita International as bogus purchases based on the information received from

SUN PHARMACEUTICALS INDUSTRIES LIMITED,,VADODARA vs. THE ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1)(1), BARODA

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

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

32(1)(iia) on such capital expenditure disallowed. 5. Re: Disallowance on account of alleged Bogus Purchases Rs. 51.712/- : 5.1. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) grossly erred in disallowing purchases made from M/s M.R. Corporation and M/s Savita International as bogus purchases based on the information received from

DCIT, CIRCLE-2(1)(1),, BARODA vs. M/S. SUN PHARMACEUTICALS INDUSTRIES LTD. , BARODA

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

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

32(1)(iia) on such capital expenditure disallowed. 5. Re: Disallowance on account of alleged Bogus Purchases Rs. 51.712/- : 5.1. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) grossly erred in disallowing purchases made from M/s M.R. Corporation and M/s Savita International as bogus purchases based on the information received from

THE DY. CIT., ANAND CIRCLE,, ANAND vs. M/S. KAIRA DIST. CO.-OP. MILK PRODUCERS UNION LTD.,, ANAND

In the result, the appeal of the revenue is dismissed

Bench: Shri Kul Bharat & Shri Waseem Ahmedआयकर अपील सं./Ita No.2218/Ahd/2016 "नधा"रण वष"/Asstt. Year: 2012-2013 D.C.I.T, M/S. Kaira District Co-Op. Milk, Anand Circle, Vs. Producers Union Ltd., Anand. Amul Dairy Road, Anand-388001. Pan: Aaaak8694F

transfer to the undertaking of building, raw material or plant used in any previous business results in denial of the benefit contemplated under sub-s. (1). Since a provision intended for promoting economic growth has to be interpreted liberally, the restriction on it, too, has to be construed so as to advance the objective of the section and notto frustrate

DR K R SHROFF FOUNDATION,AHMEDABAD vs. THE DY. CIT, CIRCLE-1, EXMP, AHMEDABAD

In the result, appeal of the assessee is partly allowed\n\n29

32,730\nCredit\nA/c No. 45505376211\n\nBank of America (A/c No.70061049)\n22-12-2017 674,35,49,415 Bank of America\n22-12-2017 567,99,00,000 - HSBC Bank\n22-11-2017 568,21,11,200 Standard Chartered Bank\nBalance as on 22-12-2017 in BOA = Rs.1831,73,46,385-38\n\nTotal Deposits (FDRs) made

ACIT (EXEMPTION) CIRCLE 1 AHMEDABAD, AHMEDABAD vs. DR K R SHROFF FOUNDATION, AHMEDABAD

In the result, appeal of the assessee is partly allowed\n\n29

32,730\nCredit\nA/c No. 45505376211\n\nBank of America (A/c No.70061049)\n22-12-2017 674,35,49,415 Bank of America\n22-12-2017 567,99,00,000 - HSBC Bank\n22-11-2017 568,21,11,200 Standard Chartered Bank\nBalance as on 22-12-2017 in BOA = Rs.1831,73,46,385-38\nTotal Deposits (FDRs) made in Bank

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

transfer of shares and securities”. 42. The above circular has been prepared keeping in mind various judgments relating to this issue both favouring the assessee as well as revenue. Further we observe that Ld. CIT(A) allowed the assessee’s claim except for treating the Gain/Loss from its equity shares/securities held for 30 days or loss as business income. This

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

transfer of shares and securities”. 42. The above circular has been prepared keeping in mind various judgments relating to this issue both favouring the assessee as well as revenue. Further we observe that Ld. CIT(A) allowed the assessee’s claim except for treating the Gain/Loss from its equity shares/securities held for 30 days or loss as business income. This

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

transfer of shares and securities”. 42. The above circular has been prepared keeping in mind various judgments relating to this issue both favouring the assessee as well as revenue. Further we observe that Ld. CIT(A) allowed the assessee’s claim except for treating the Gain/Loss from its equity shares/securities held for 30 days or loss as business income. This

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

transfer of shares and securities”. 42. The above circular has been prepared keeping in mind various judgments relating to this issue both favouring the assessee as well as revenue. Further we observe that Ld. CIT(A) allowed the assessee’s claim except for treating the Gain/Loss from its equity shares/securities held for 30 days or loss as business income. This

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

transfer of shares and securities”. 42. The above circular has been prepared keeping in mind various judgments relating to this issue both favouring the assessee as well as revenue. Further we observe that Ld. CIT(A) allowed the assessee’s claim except for treating the Gain/Loss from its equity shares/securities held for 30 days or loss as business income. This

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

transfer of shares and securities”. 42. The above circular has been prepared keeping in mind various judgments relating to this issue both favouring the assessee as well as revenue. Further we observe that Ld. CIT(A) allowed the assessee’s claim except for treating the Gain/Loss from its equity shares/securities held for 30 days or loss as business income. This

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

transfer of shares and securities”. 42. The above circular has been prepared keeping in mind various judgments relating to this issue both favouring the assessee as well as revenue. Further we observe that Ld. CIT(A) allowed the assessee’s claim except for treating the Gain/Loss from its equity shares/securities held for 30 days or loss as business income. This

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

transfer of shares and securities”. 42. The above circular has been prepared keeping in mind various judgments relating to this issue both favouring the assessee as well as revenue. Further we observe that Ld. CIT(A) allowed the assessee’s claim except for treating the Gain/Loss from its equity shares/securities held for 30 days or loss as business income. This