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

price whichever is less”. There is no dispute to such disclosed income. Bone of contention relates to capital gain. Assessee has shown Short Term Capital and Long Term Capital Gain on sale of equity shares and has claimed the benefit of exemption for Long Term Capital Gain and special tax rate of 15% for Short Term Capital Gain

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

price whichever is less”. There is no dispute to such disclosed income. Bone of contention relates to capital gain. Assessee has shown Short Term Capital and Long Term Capital Gain on sale of equity shares and has claimed the benefit of exemption for Long Term Capital Gain and special tax rate of 15% for Short Term Capital Gain

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

price whichever is less”. There is no dispute to such disclosed income. Bone of contention relates to capital gain. Assessee has shown Short Term Capital and Long Term Capital Gain on sale of equity shares and has claimed the benefit of exemption for Long Term Capital Gain and special tax rate of 15% for Short Term Capital Gain

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

price whichever is less”. There is no dispute to such disclosed income. Bone of contention relates to capital gain. Assessee has shown Short Term Capital and Long Term Capital Gain on sale of equity shares and has claimed the benefit of exemption for Long Term Capital Gain and special tax rate of 15% for Short Term Capital Gain

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

price whichever is less”. There is no dispute to such disclosed income. Bone of contention relates to capital gain. Assessee has shown Short Term Capital and Long Term Capital Gain on sale of equity shares and has claimed the benefit of exemption for Long Term Capital Gain and special tax rate of 15% for Short Term Capital Gain

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

price whichever is less”. There is no dispute to such disclosed income. Bone of contention relates to capital gain. Assessee has shown Short Term Capital and Long Term Capital Gain on sale of equity shares and has claimed the benefit of exemption for Long Term Capital Gain and special tax rate of 15% for Short Term Capital Gain

AURA SECURITIES PVT.LTD.,,AHMEDABAD vs. THE ACIT.,CIRCLE-1,, AHMEDABAD

In the result the appeal of the assessee is allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No.834/Ahd/2012 "नधा"रण वष"/Asstt. Year: 2008-2009 Dcit, Aura Securities Pvt. Ltd. Circle-1, V Akhay Building, B/H, Vadilal Ahmedabad. S. House, 53, Shrimali Society, Navrangpura, Ahmedabad-380009 Pan: Aabct4637N आयकर अपील सं./Ita No.986/Ahd/2012 िनधा"रण वष"/Asstt. Year: 2008-2009 Aura Securities Pvt. Ltd. Acit, Akhay Building, B/H, Vadilal Vs. Circle-1, House, 53, Shrimali Society, Ahmedabad. Navrangpura, Ahmedabad-380009 Pan: Aabct4637N

price of RS 38 per share. Appellant earned substantial long-term capital gains on transfer of its own holding whereas suffered short

AURA SECURITIES PVT. LTD.,AHMEDABAD vs. DY. COMMISSIONER OF INCOME TAX,, AHMEDABAD

In the result the appeal of the assessee is allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No.834/Ahd/2012 "नधा"रण वष"/Asstt. Year: 2008-2009 Dcit, Aura Securities Pvt. Ltd. Circle-1, V Akhay Building, B/H, Vadilal Ahmedabad. S. House, 53, Shrimali Society, Navrangpura, Ahmedabad-380009 Pan: Aabct4637N आयकर अपील सं./Ita No.986/Ahd/2012 िनधा"रण वष"/Asstt. Year: 2008-2009 Aura Securities Pvt. Ltd. Acit, Akhay Building, B/H, Vadilal Vs. Circle-1, House, 53, Shrimali Society, Ahmedabad. Navrangpura, Ahmedabad-380009 Pan: Aabct4637N

price of RS 38 per share. Appellant earned substantial long-term capital gains on transfer of its own holding whereas suffered short

M/S. VENUS INFRASTRUCTURE & DEVELOPERS PVT. LTD.,,AHMEDABAD vs. THE DCIT, (OSD) CIRCLE-8,, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No. 1582/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2012-2013 M/S. Venus Infrastructure & D.C.I.T.,(Osd) Developers (P) Ltd., Vs. Central Circle-8, 801-802, Broadway Business Ahmedabad. Centre, Opp. Mayor’S Bungalow, Law Garden Ellisbridge, Ahmedabad. Pan: Aahcs6254J

gain on transfer of share after claiming indexed cost of acquisition as the holding period of shares by assessee was for more than 12 month by virtue of proviso to section 2(42A) of the Act read with section 2(29A) of the Act. Thus, the assessee choses one option out of two legally permissible options which it deem most

SHRI BALKRISHNA P.TRIVEDI,HUF,AHMEDABAD vs. THE CIT-III,, AHMEDABAD

In the result, appeal filed by the Revenue in ITA No

Bench: Shri Pradip Kumar Kedia & Smt. Madhumita Roy

transfer of land as LTCG instead of STCG on the basis additional evidences admitted in contravention of Rule 46A. ITA Nos. 1225/Ahd/13, 1229 & 997/Ahd/2016 [Balkrishna P. Trivedi HUF] A.Y. 2008-09 - 8 - (3) The Ld.CIT(A) has erred on facts and in law in directing the AO to allow exemption of Rs.50,00,000/- u/s 54EC of the Act Rs.51

GUJARAT FLUOROCHEMEICALS LTD,,BARODA vs. THE DY.CIT.,CIRCLE-1(1)(1),, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

capital. Before the ld.CIT(A), the assessee brought to the notice copies of resolutions of both the companies, and therefore, the ld.CIT(A) was satisfied that it was not bogus transaction or a colourable transaction. The assessee basically has not suffered any loss, rather long term capital loss arose account of indexation of cost, as the investment was long term

GUJARAT FLUROCHEMICALS LIMITED,,BARODA vs. THE DY.CIT, CIRCLE-1(1),, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

capital. Before the ld.CIT(A), the assessee brought to the notice copies of resolutions of both the companies, and therefore, the ld.CIT(A) was satisfied that it was not bogus transaction or a colourable transaction. The assessee basically has not suffered any loss, rather long term capital loss arose account of indexation of cost, as the investment was long term

THE ADDL.CIT, RANGE-1, BARODA vs. GUJARAT FLUOROCHEMEICALS LTD, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

capital. Before the ld.CIT(A), the assessee brought to the notice copies of resolutions of both the companies, and therefore, the ld.CIT(A) was satisfied that it was not bogus transaction or a colourable transaction. The assessee basically has not suffered any loss, rather long term capital loss arose account of indexation of cost, as the investment was long term

GUJARAT FLUROCHEMICALS LIMITED,,BARODA vs. THE ADDL. CIT, RANGE-1,, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

capital. Before the ld.CIT(A), the assessee brought to the notice copies of resolutions of both the companies, and therefore, the ld.CIT(A) was satisfied that it was not bogus transaction or a colourable transaction. The assessee basically has not suffered any loss, rather long term capital loss arose account of indexation of cost, as the investment was long term

THE DCIT, CIRCLE-1(1),, BARODA vs. GUJARAT FLUROCHEMICALS LTD.,, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

capital. Before the ld.CIT(A), the assessee brought to the notice copies of resolutions of both the companies, and therefore, the ld.CIT(A) was satisfied that it was not bogus transaction or a colourable transaction. The assessee basically has not suffered any loss, rather long term capital loss arose account of indexation of cost, as the investment was long term

GUJARAT FLUROCHEMICALS LTD.,,BARODA vs. THE DY.CIT.,CIRCLE-1(1),, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

capital. Before the ld.CIT(A), the assessee brought to the notice copies of resolutions of both the companies, and therefore, the ld.CIT(A) was satisfied that it was not bogus transaction or a colourable transaction. The assessee basically has not suffered any loss, rather long term capital loss arose account of indexation of cost, as the investment was long term

THA ADDL. CIT, RANGE-1,, BARODA vs. M/S. GUJARAT FLUROCHEMICALS LIMITED.,, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

capital. Before the ld.CIT(A), the assessee brought to the notice copies of resolutions of both the companies, and therefore, the ld.CIT(A) was satisfied that it was not bogus transaction or a colourable transaction. The assessee basically has not suffered any loss, rather long term capital loss arose account of indexation of cost, as the investment was long term

THE DCIT, CIRCLE-6,, AHMEDABAD vs. VISHAL ENGINEERING & GALVANIZERS,, AHMEDABAD

Bench: Shri Pramod Kumar& Ms. Madhumita Roy

short-term capital gain and long term capital gain. The appellant on the other hand has submitted that provisions of section 45(4) are not applicable as there was no transfer of assets by way of distribution of capital assets and there was no dissolution of the firm. The AO was not justified in observing that on conversion