DCIT, CIRCLE-1(1)(1),, AHMEDABAD vs. ADANI ENTERPRISES LTD., AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

section 35D(2)(c)(iv) of the Act. Hence the ground of appeal of the assessee is allowed whereas the ground of appeal of the revenue is by dismissed. 61.1 In view of the above finding in own case of the assessee for A.Y. 2011-12 we hereby set aside the finding of the learned CIT(A) and direct

DCIT, CIRCLE-1(1)(1),, AHMEDABAD vs. ADANI ENTERPRISES LTD., AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

section 35D(2)(c)(iv) of the Act. Hence the ground of appeal of the assessee is allowed whereas the ground of appeal of the revenue is by dismissed. 61.1 In view of the above finding in own case of the assessee for A.Y. 2011-12 we hereby set aside the finding of the learned CIT(A) and direct

THE DCIT CIRCLE-1(1)(1), AHMEDABAD vs. M/S. ADANI ENTERPRISE LTD, AHMEDABAD

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

section 35D(2)(c)(iv) of the Act. Hence the ground of appeal of the assessee is allowed whereas the ground of appeal of the revenue is by dismissed. 61.1 In view of the above finding in own case of the assessee for A.Y. 2011-12 we hereby set aside the finding of the learned CIT(A) and direct

THE DCIT, CIRCLE-1,, AHMEDABAD vs. AIA ENGINEERING LTD.,, AHMEDABAD

In the result, ITA Appeals 1766/Ahd/12, 2342/Ahd/15, 2343/Ahd/2015,

price, under the scheme of the international transfer pricing set out in the Income Tax Act, 1961, can only be done in respect of an 'international transaction'. Section 92(1) provides that, "(a)ny income arising from an international transaction shall be computed having regard to the arm's length price". In order to attract the arm's length price

AIA ENGINEERING LTD.,,AHMEDABAD vs. THE DY.CIT.,CIRCLE-1,, AHMEDABAD

In the result, ITA Appeals 1766/Ahd/12, 2342/Ahd/15, 2343/Ahd/2015,

price, under the scheme of the international transfer pricing set out in the Income Tax Act, 1961, can only be done in respect of an 'international transaction'. Section 92(1) provides that, "(a)ny income arising from an international transaction shall be computed having regard to the arm's length price". In order to attract the arm's length price

KHURANA ENGINEERING LTD.,,AHMEDABAD vs. THE ACIT.(OSD),CIRCLE-1,, AHMEDABAD

Bench: Shri Ramit Kochar & Ms. Madhumita Roya.Y. 2007-08

price that such goods or services would ordinarily fetch in the open market.] (9) Where any amount of profits and gains of an 76[undertaking]or of an enterprise in the case of an assessee is claimed and allowed under this section for any assessment year, deduction to the extent of such profits and gains shall not be allowed under

THE ACIT.(OSD), CIRCLE-1,, AHMEDABAD vs. KHURANA ENGINEERING LTD.,, AHMEDABAD

Bench: Shri Ramit Kochar & Ms. Madhumita Roya.Y. 2007-08

price that such goods or services would ordinarily fetch in the open market.] (9) Where any amount of profits and gains of an 76[undertaking]or of an enterprise in the case of an assessee is claimed and allowed under this section for any assessment year, deduction to the extent of such profits and gains shall not be allowed under

THE ACIT.(OSD), CIRCLE-1,, AHMEDABAD vs. KHURANA ENGINEERING LTD.,, AHMEDABAD

Bench: Shri Ramit Kochar & Ms. Madhumita Roya.Y. 2007-08

price that such goods or services would ordinarily fetch in the open market.] (9) Where any amount of profits and gains of an 76[undertaking]or of an enterprise in the case of an assessee is claimed and allowed under this section for any assessment year, deduction to the extent of such profits and gains shall not be allowed under

THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1),, BARODA vs. M/S. SUN PHARMA LABORATORIES LTD.,, MUMBAI

In the result, the Department’s appeal is partly allowed

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Pricing and also much lesser than the prevailing interest rates in the market. It is undisputed fact that based on contractual obligation the late payment of 232 days has attracted the penal interest of Rs.50,16,000/- which is to be allowed u/s.37(1) of the Act. Thus the addition made by the Ld AO on this account is against

SUN PHARMA LABORATORIES LTD.,,MUMBAI vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1),, BARODA

In the result, the Department’s appeal is partly allowed

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Pricing and also much lesser than the prevailing interest rates in the market. It is undisputed fact that based on contractual obligation the late payment of 232 days has attracted the penal interest of Rs.50,16,000/- which is to be allowed u/s.37(1) of the Act. Thus the addition made by the Ld AO on this account is against

THE ACIT, CIRCLE-5,, AHMEDABAD vs. NIRMA CHEMICALS WORKS PVT.LTD., AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

c) The AO has treated the loss on account of OFCPN as sham transaction which is unjustified in view of the fact available on record. It is evident from the record that the assessee has invoked securities pledge after passing board resolution thereafter shares of different companies were transferred and in the process several dispute arose which gone upto apex

NIRMA CHEMICALS WORKS PVT.LTD.,AHMEDABAD vs. THE DY.CIT.,CIRCLE-5,, AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

c) The AO has treated the loss on account of OFCPN as sham transaction which is unjustified in view of the fact available on record. It is evident from the record that the assessee has invoked securities pledge after passing board resolution thereafter shares of different companies were transferred and in the process several dispute arose which gone upto apex

NIRMA CHEMICALS WORKS PVT.LTD.,AHMEDABAD vs. THE DY.CIT.,CIRCLE-5,, AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

c) The AO has treated the loss on account of OFCPN as sham transaction which is unjustified in view of the fact available on record. It is evident from the record that the assessee has invoked securities pledge after passing board resolution thereafter shares of different companies were transferred and in the process several dispute arose which gone upto apex

THE ACIT, CIRCLE-5,, AHMEDABAD vs. NIRMA CHEMICALS WORKS PVT.LTD., AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

c) The AO has treated the loss on account of OFCPN as sham transaction which is unjustified in view of the fact available on record. It is evident from the record that the assessee has invoked securities pledge after passing board resolution thereafter shares of different companies were transferred and in the process several dispute arose which gone upto apex

THE ACIT, CIRCLE-5,, AHMEDABAD vs. NIRMA CHEMICALS WORKS PVT.LTD., AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

c) The AO has treated the loss on account of OFCPN as sham transaction which is unjustified in view of the fact available on record. It is evident from the record that the assessee has invoked securities pledge after passing board resolution thereafter shares of different companies were transferred and in the process several dispute arose which gone upto apex

NIRMA CHEMICAL WORKS PVT.LTD.,,AHMEDABAD vs. THE ACIT.,CIRCLE-5,, AHMEDABAD

In the result appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

c) The AO has treated the loss on account of OFCPN as sham transaction which is unjustified in view of the fact available on record. It is evident from the record that the assessee has invoked securities pledge after passing board resolution thereafter shares of different companies were transferred and in the process several dispute arose which gone upto apex

BHOGILAL ODHAVJI INDUSTRIAL ENTERPRISES PVT. LTD.,,AHMEDABAD vs. THE DCIT, CIRCLE-1(1),, AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Smt Madhumita Royआयकर अपील सं./I.T.A. No. 2889/Ahd/2017 ("नधा"रण वष" / Assessment Year : 2012-13) Bhogilal Odhavji Industrial Dcit, बनाम/ Enterprises Pvt. Ltd., Circle -1(1), Vs. Asarva Bethak, Asarva, Ahmedabad. Ahmedabad-380 016. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacv 6980 D .. (अपीलाथ"/Appellant) (""यथ" / Respondent) अपीलाथ" ओर से/ Appellant By : Shri B. R. Popat, A.R. ""यथ" क" ओर से/Respondent By: Ms. Vasundhara Upmanya. Cit-D.R.

section 35D of the Act; and 2. Confirming the addition of Rs 22,59,10, 459/- made by the AO by treating the entire accounted cost of an immovable property as having been met out of unexplained sources and thereby treating the same as unexplained investment. While adjudicating this ground he ought to have inter alia appreciated the undisputed

THE DY.COMMISSIONER OF INCOME TAX CIRCLE-2(1)(1),, AHMEDABAD vs. M/S. GUJARAT INTERNATIONAL FINANCE TECH-CITY CO. LIMITED, GANDHINAGAR

In the result, both the grounds of appeal of the revenue are dismissed

35D of the Act. I.T.A No. 1177/Ahd/2016 A.Y. 2012-13 Page No 6 DCIT vs. M/s. Gujarat International Finance Tech-City Co. Limited 4. Allowability of Depreciation 41 it is submitted that the Assets used by the Company are used for the purpose of Business and that the assets have been put to use by the Company. Section