BACKBONE ENTERPRISE LTD.,,RAJKOT-GUJARAT vs. THE DY. COMMR. INCOME TAX, CEN. CIRCLE-II,, RAJKOT-GUJARAT

In the result, appeal of the assessee is dismissed

disallowed and withdrawn and added back to the taxable income of the assessee company.” 5. In appeal, Ld. CIT(Appeals) discussed facts of each of the individual projects carried out by the assessee on merits, and based on the analysis of each of the projects, gave part relief to the assessee. The Department and the assessee are in appeal

THE ASSTT. COMMR. INCOME TAX, CEN. CIRCLE-2,, RAJKOT-GUJARAT vs. M/S BACKBONE ENTERPRISES LTD.,, RAJKOT-GUJARAT

In the result, appeal of the assessee is dismissed

disallowed and withdrawn and added back to the taxable income of the assessee company.” 5. In appeal, Ld. CIT(Appeals) discussed facts of each of the individual projects carried out by the assessee on merits, and based on the analysis of each of the projects, gave part relief to the assessee. The Department and the assessee are in appeal

ISS SHIPPING INDIA PVT. LTD., (AS AGENT FOR MAERSK TANKERS SINGAPORE PTE. LTD., SINGAPORE),NAVI MUMBAI vs. DY. COMMR. OF INCOME TAX ( INTERNATIONAL TAXATION),, RAJKOT

In the result, both the appeals of the assessee are allowed for statistical purposes

94 ITD 242 (Mum)] in paragraph 18 thereof, had observed that : "... the purpose of the relevant provision in the tax treaty is indeed one of the relevant considerations in deciding the contextual meaning. Second, even if it is debatable as to whether contextual meaning of a term has precedence over the domestic tax law meaning of that term

ISS SHIPPING INDIA PVT. LTD., (AS AGENT FOR MAERSK TANKERS SINGAPORE PTE. LTD., SINGAPORE),NAVI MUMBAI vs. DY. COMMR. OF INCOME TAX ( INTERNATIONAL TAXATION),, RAJKOT

In the result, both the appeals of the assessee are allowed for statistical purposes

94 ITD 242 (Mum)] in paragraph 18 thereof, had observed that : "... the purpose of the relevant provision in the tax treaty is indeed one of the relevant considerations in deciding the contextual meaning. Second, even if it is debatable as to whether contextual meaning of a term has precedence over the domestic tax law meaning of that term

AHLSTROM FIBERCOMPOSITES INDIA PVT. LTD.,,MUNDRA (KUTCH) vs. THE DY. COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE,, GANDHIDHAM

In the result, the appeals of the assessee are allowed for statistical purposes

Bench: Smt.Annapurna Gupta & Shri Siddhartha Nautiyalit(Tp)A No.85& 287/Rjt/2017 Assessment Year :2012-13 & 2013-14

94,57,783/- as opposed to Rs.53,11,37,045/- shown by the assessee; resulting in proposed adjustment of Rs.15,893,20,738/ on account of determination of ALP of the international transactions of sales. The assessee objected to the aforesaid proposed adjustment before the DRP who dismissed all the objections of the assessee, and accordingly, the adjustment of Rs.15.83

AHLSTROM FIBER COMPOSITES (I) P. LTD.,,MUNDRA (KUTCH) vs. THE ASSTT. COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE,, GANDHIDHAM

In the result, the appeals of the assessee are allowed for statistical purposes

Bench: Smt.Annapurna Gupta & Shri Siddhartha Nautiyalit(Tp)A No.85& 287/Rjt/2017 Assessment Year :2012-13 & 2013-14

94,57,783/- as opposed to Rs.53,11,37,045/- shown by the assessee; resulting in proposed adjustment of Rs.15,893,20,738/ on account of determination of ALP of the international transactions of sales. The assessee objected to the aforesaid proposed adjustment before the DRP who dismissed all the objections of the assessee, and accordingly, the adjustment of Rs.15.83

AHLSTROM FIBER COMPOSITES (I) P. LTD.,,MUNDRA (KUTCH) vs. THE ASSTT. COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE,, GANDHIDHAM

In the result, the appeals of the assessee are allowed for statistical purposes

Bench: Smt.Annapurna Gupta & Shri Siddhartha Nautiyalit(Tp)A No.85& 287/Rjt/2017 Assessment Year :2012-13 & 2013-14

94,57,783/- as opposed to Rs.53,11,37,045/- shown by the assessee; resulting in proposed adjustment of Rs.15,893,20,738/ on account of determination of ALP of the international transactions of sales. The assessee objected to the aforesaid proposed adjustment before the DRP who dismissed all the objections of the assessee, and accordingly, the adjustment of Rs.15.83

SHRI RAJKOT DISTRICT CO-OP. BANK LTD. RAJKOT,RAJKOT vs. THE PR. CIT-1, RAJKOT, RAJKOT

The appeal of the assessee is allowed

Bench: us, the error noted in the assessment order passed in the case of the assessee under Section 143(3) of the Act for the impugned year i.e. AY 2017-18 was that the assessee’s claim of deduction for creation of special reserve from the profit of “eligible business” as per Section 36(1)(viii) of the Act had been allowed in excess by the Assessing Officer without properly examining the calculation of the claim submitted by the assessee.

4,94,94,106 In light of the above submission, you will see that the method of computing "profit from eligible business" followed by us meets the requirement of law as well as the cost accounting standard and therefore, profit of eligible business computed and deduction claimed on that basisis proper. This very method of computing profit of eligible business

THE DCIT, CIRCLE-1(2), RAJKOT vs. M/S. DRB COMMODITIES PVT. LTD., RAJKOT

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

disallowance of foreign exchange rate difference of Rs.2,09,49,337/-. 3. It is, therefore, prayed that the order of the Ld. CIT(A) may be set aside and that of the Assessing Officer be restored.” 3. Ground No. 1 relates to addition of Rs. 1,47,94,267/- made on account of export sale commission under Section

THE DCIT, CIRCLE-1(2), RAJKOT vs. M/S. DRB COMMODITIES PVT. LTD., RAJKOT

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

disallowance of foreign exchange rate difference of Rs.2,09,49,337/-. 3. It is, therefore, prayed that the order of the Ld. CIT(A) may be set aside and that of the Assessing Officer be restored.” 3. Ground No. 1 relates to addition of Rs. 1,47,94,267/- made on account of export sale commission under Section

THE DY. COMMR. OF INCOME TAX, CIR.-1(2), RAJKOT-GUJARAT vs. M/S DML EXIM PVT. LTD.,, RAJKOT-GUJARAT

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

disallowance of foreign exchange rate difference of Rs.2,09,49,337/-. 3. It is, therefore, prayed that the order of the Ld. CIT(A) may be set aside and that of the Assessing Officer be restored.” 3. Ground No. 1 relates to addition of Rs. 1,47,94,267/- made on account of export sale commission under Section

THE DCIT, CIRCLE-1 (2), RAJKOT vs. SHRI NARENDRA NANJIBHAI DAVDA, RAJKOT

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

disallowance of foreign exchange rate difference of Rs.2,09,49,337/-. 3. It is, therefore, prayed that the order of the Ld. CIT(A) may be set aside and that of the Assessing Officer be restored.” 3. Ground No. 1 relates to addition of Rs. 1,47,94,267/- made on account of export sale commission under Section

THE DCIT, CIRCLE 2(1), RAJKOT-GUJARAT vs. SMT MEENABEN H LAKHANI, RAJKOT-GUJARAT

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

disallowance of foreign exchange rate difference of Rs.2,09,49,337/-. 3. It is, therefore, prayed that the order of the Ld. CIT(A) may be set aside and that of the Assessing Officer be restored.” 3. Ground No. 1 relates to addition of Rs. 1,47,94,267/- made on account of export sale commission under Section

THE DCIT, CIRCLE-1(2), RAJKOT vs. M/S. D.M.L. WORLD TRADE PVT. LTD., RAJKOT

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

disallowance of foreign exchange rate difference of Rs.2,09,49,337/-. 3. It is, therefore, prayed that the order of the Ld. CIT(A) may be set aside and that of the Assessing Officer be restored.” 3. Ground No. 1 relates to addition of Rs. 1,47,94,267/- made on account of export sale commission under Section

THE ACIT, CIRCLE-1,, JAMNAGAR vs. M/S. SENOR METALS PVT. LTD., JAMNAGAR

In the results the appeal of the revenue is dismissed

Bench: Shri Waseem Ahmed & Ms Suchitra Raghunath Kambleआयकर अपील सं./Ita No. 260/Rjt/2015 िनधा"रण वष"/Asstt. Year:2011-12

4,04,77,490 55,03,173 B Copper 31-Aug-10 255 388.80 7,91,69,191 8,57,65,028 (65,95,837) c Copper 30-Nov-10 195 239.19 6,72,73,511 7,43,67,554 (70,94,043) D Copper

M/S. RISHI KIRAN LOGISTICS PVT. LTD.,,GANDHIDHAM vs. THE JOINT COMMR. OF INCOME TAX,, GANDHIDHAM

In the result, appeal filed by the assessee is partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed)

94,549/- by invoking provisions of section 14A of the Act on the alleged ground that appellant failed to prove one-to-one nexus from bank account that investment has been done entirely from its own funds. (vi) Alleged that assessee (i) paid excessive terminal handling charges to Shreeji Power and Insulators Pvt. Ltd. [SPIPL] and (ii) paid

THE ASSTT. COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE,, GANDHIDHAM vs. M/S RISHI KIRAN LOGISTICS P. LTD.,, GANDHIDHAM

In the result, appeal filed by the assessee is partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed)

94,549/- by invoking provisions of section 14A of the Act on the alleged ground that appellant failed to prove one-to-one nexus from bank account that investment has been done entirely from its own funds. (vi) Alleged that assessee (i) paid excessive terminal handling charges to Shreeji Power and Insulators Pvt. Ltd. [SPIPL] and (ii) paid

PUNABHAI G. PARDAVA,,DHARI vs. INCOME TAX OFFICER, WARD-3(1)(4),, AMRELI

In the result, the appeal filed by the assessee is partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedassessment Year: 2012-13

4. However, the AO disagreed with the contention of the assessee on the reasoning that there was the single monthly cheque payment towards the rent amounting to ₹30,000 only. Accordingly, the AO concluded that the payment of the rent was paid to one person only. Thus the assessee was liable to deduct the TDS under the provisions of section