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41 results for “capital gains”+ Section 2(24)(vi)clear

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Key Topics

Section 143(3)44Addition to Income34Section 26324Section 153C19Disallowance17Section 14713Deduction12Section 6810Section 115J10Section 250

KALUBHAI DULABHAI GOLAVIYA,SURAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2, , SURAT

In the result, ground raised by the assessee is allowed

ITA 619/SRT/2018[2014-15]Status: DisposedITAT Surat30 Mar 2023AY 2014-15

Bench: Shri Pawan Singh, Jm &Dr. A.L.Saini, Am आयकर अपीलसं./It(Ss)A No.15 & Ita No.619/Srt/2018 (िनधा"रणवष" / Assessment Years: (2011-12 &2014-15) (Virtual Court Hearing) Shri Kalubhai Dulabhai Golaviya Deputy Commissioner Of Income-Tax, B/1-2, Jalaram Society, B/H. Central Circle-2, Aaykar Bhavan, Vs. Gurunagar Society, Varachha Majura Gate, Surat-395001 Road, Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ablpp 5116 A (अपीलाथ" /Appellant) (""थ" /Respondent)

For Appellant: Shri Ashwin K Parekh, C.AFor Respondent: Shri Ashok B.Koli, CIT-DR &
Section 132Section 143(2)Section 143(3)Section 153ASection 45(3)Section 54F

2(14) of the Act defines the term "capital asset". It states that property "whether connected to business or not" is "capital asset". Hence, even if an asset is connected to business, the gain on the sale is "capital gain". Even section 50 of the Income Tax Act lay down that the gain on the sale of depreciable asset used

Showing 1–20 of 41 · Page 1 of 3

10
Long Term Capital Gains9
Section 10(38)8

MICRO INKS PVT. LTD., ( FORMERLY KNOWN AS MICRO INKS LTD.),VAPI vs. THE INCOME TAX OFFICER, ( INTL. TAXN.), SURAT

In the result, appeal of the assessee is allowed

ITA 2707/AHD/2014[2012-13]Status: DisposedITAT Surat14 Feb 2020AY 2012-13

Bench: Shri Sandeep Gosain, Hon'Ble & Shri O.P.Meena, Hon'Bleआ.अ.सं./I.T.A No.2375/Ahd/2014 "नधा"रण वष"/Assessment Year: 2012-13 The Income Tax Officer, V Micro Inks Limited, (International Taxation), Surat. S. Bilakhia House, Muktanand Marg, Chala, Vapi – 396 191. [Pan: Aaach 7063 F] अपीलाथ" / Appellant ""यथ"/Respondent आ.अ.सं./I.T.A No.2707/Ahd/2014 "नधा"रण वष"/Assessment Year: 2012-13 Micro Inks Limited, V The Income Tax Officer, Bilakhia House, Muktanand S. (International Taxation), Marg, Chala, Vapi – 396 191. Surat. [Pan: Aaach 7063 F] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओरसे /Assessee By Shri Gopala Krishnan – Ca राज"वक"ओरसे /Revenue By Mrs. Anupam Singla – Sr.Dr सुनवाईकीतारीख/ Date Of Hearing: 06.02.2020 उ"घोषणाक"तार"ख/Pronouncement On: 14.02.2020

Section 201Section 5Section 5(2)Section 9(1)Section 9(1)(v)Section 9(1)(vb)

2. —For the purposes of this clause, "royalty" means consideration (including any lump sum consideration but excluding any consideration which would be the income of the recipient chargeable under the head "Capital gains") for- (i) the transfer of all or any rights (including the granting of a licence) in respect of a patent, invention, model, design, secret formula or process

THE ITO, (INTERNATIONAL TAXATION),, SURAT vs. MICRO INKS LIMITED,, VAPI

In the result, appeal of the assessee is allowed

ITA 2375/AHD/2014[2012-13]Status: DisposedITAT Surat14 Feb 2020AY 2012-13

Bench: Shri Sandeep Gosain, Hon'Ble & Shri O.P.Meena, Hon'Bleआ.अ.सं./I.T.A No.2375/Ahd/2014 "नधा"रण वष"/Assessment Year: 2012-13 The Income Tax Officer, V Micro Inks Limited, (International Taxation), Surat. S. Bilakhia House, Muktanand Marg, Chala, Vapi – 396 191. [Pan: Aaach 7063 F] अपीलाथ" / Appellant ""यथ"/Respondent आ.अ.सं./I.T.A No.2707/Ahd/2014 "नधा"रण वष"/Assessment Year: 2012-13 Micro Inks Limited, V The Income Tax Officer, Bilakhia House, Muktanand S. (International Taxation), Marg, Chala, Vapi – 396 191. Surat. [Pan: Aaach 7063 F] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओरसे /Assessee By Shri Gopala Krishnan – Ca राज"वक"ओरसे /Revenue By Mrs. Anupam Singla – Sr.Dr सुनवाईकीतारीख/ Date Of Hearing: 06.02.2020 उ"घोषणाक"तार"ख/Pronouncement On: 14.02.2020

Section 201Section 5Section 5(2)Section 9(1)Section 9(1)(v)Section 9(1)(vb)

2. —For the purposes of this clause, "royalty" means consideration (including any lump sum consideration but excluding any consideration which would be the income of the recipient chargeable under the head "Capital gains") for- (i) the transfer of all or any rights (including the granting of a licence) in respect of a patent, invention, model, design, secret formula or process

SHRI NISHANT KANTILAL PATEL,BHARUCH vs. INCOME TAX OFFICER, WARD-2(2), BHARUCH

In the result, the appeals filed by the assessee (In ITA No

ITA 10/SRT/2019[2014-15]Status: DisposedITAT Surat07 Jan 2021AY 2014-15

Bench: Shri Pawan Singh, Jm & Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.05 & 06/Srt/2019 ("नधा"रणवष" / Assessment Year: (2013-14) (Virtual Court Hearing) Shri Nishantkantilal Patel, Vs. Income Tax Officer, 9, Uma Park Society, Near Uma Ward-2(2), Bharuch. Bhavan, Bharuch-393002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Amepp2505R (Assessee) (Respondent) Smt Muktabennishantbhai Patel, Vs. Income Tax Officer, 9-10, Patel Kubj, Uma Park Society, B/H Ward-2(2), Bharuch. Uma Bhavan, Old Nh No.8, Gidc, Zadeshwar, Ankleshwar -393002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Binpp5922N (Assessee) (Respondent) आयकरअपीलसं./Ita Nos.07 & 10/Srt/2019 ("नधा"रणवष" / Assessment Year: (2014-15)

For Appellant: Shri Rasesh Shah -CAFor Respondent: Ms Anupama Singhla -Sr. DR
Section 10(38)Section 143(3)Section 147Section 148Section 68Section 69C

vi).The purchase of the shares of ‘Global Securities Ltd’ were off market transactions whereby no STT has been paid. (vii).Finally, to make transaction look genuine, sale of shares happened through a broker (which has been categorically involved in LTCG scam as named in Kolkata Investigation Report) through online mode and STT is paid and assessee, derives exempt income

SHRI NISHANT KANTILAL PATEL,BHARUCH vs. INCOME TAX OFFICER, WARD-2(2), BHARUCH

In the result, the appeals filed by the assessee (In ITA No

ITA 5/SRT/2019[2013-14]Status: DisposedITAT Surat07 Jan 2021AY 2013-14

Bench: Shri Pawan Singh, Jm & Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.05 & 06/Srt/2019 ("नधा"रणवष" / Assessment Year: (2013-14) (Virtual Court Hearing) Shri Nishantkantilal Patel, Vs. Income Tax Officer, 9, Uma Park Society, Near Uma Ward-2(2), Bharuch. Bhavan, Bharuch-393002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Amepp2505R (Assessee) (Respondent) Smt Muktabennishantbhai Patel, Vs. Income Tax Officer, 9-10, Patel Kubj, Uma Park Society, B/H Ward-2(2), Bharuch. Uma Bhavan, Old Nh No.8, Gidc, Zadeshwar, Ankleshwar -393002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Binpp5922N (Assessee) (Respondent) आयकरअपीलसं./Ita Nos.07 & 10/Srt/2019 ("नधा"रणवष" / Assessment Year: (2014-15)

For Appellant: Shri Rasesh Shah -CAFor Respondent: Ms Anupama Singhla -Sr. DR
Section 10(38)Section 143(3)Section 147Section 148Section 68Section 69C

vi).The purchase of the shares of ‘Global Securities Ltd’ were off market transactions whereby no STT has been paid. (vii).Finally, to make transaction look genuine, sale of shares happened through a broker (which has been categorically involved in LTCG scam as named in Kolkata Investigation Report) through online mode and STT is paid and assessee, derives exempt income

SMT. MUKTABEN NISHANTBHAI PATEL,ANKLESHWAR vs. INCOME TAX OFFICER WARD -2(2), BHARUCH

In the result, the appeals filed by the assessee (In ITA No

ITA 6/SRT/2019[2013-14]Status: DisposedITAT Surat07 Jan 2021AY 2013-14

Bench: Shri Pawan Singh, Jm & Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.05 & 06/Srt/2019 ("नधा"रणवष" / Assessment Year: (2013-14) (Virtual Court Hearing) Shri Nishantkantilal Patel, Vs. Income Tax Officer, 9, Uma Park Society, Near Uma Ward-2(2), Bharuch. Bhavan, Bharuch-393002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Amepp2505R (Assessee) (Respondent) Smt Muktabennishantbhai Patel, Vs. Income Tax Officer, 9-10, Patel Kubj, Uma Park Society, B/H Ward-2(2), Bharuch. Uma Bhavan, Old Nh No.8, Gidc, Zadeshwar, Ankleshwar -393002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Binpp5922N (Assessee) (Respondent) आयकरअपीलसं./Ita Nos.07 & 10/Srt/2019 ("नधा"रणवष" / Assessment Year: (2014-15)

For Appellant: Shri Rasesh Shah -CAFor Respondent: Ms Anupama Singhla -Sr. DR
Section 10(38)Section 143(3)Section 147Section 148Section 68Section 69C

vi).The purchase of the shares of ‘Global Securities Ltd’ were off market transactions whereby no STT has been paid. (vii).Finally, to make transaction look genuine, sale of shares happened through a broker (which has been categorically involved in LTCG scam as named in Kolkata Investigation Report) through online mode and STT is paid and assessee, derives exempt income

DIVYABEN PRAFULCHANDRA PARMAR,SURAT vs. INCOME TAX OFFICER, WARD 1(3)(1), SURAT

In the result, appeal filed by the assessee is allowed

ITA 73/SRT/2023[2014-15]Status: DisposedITAT Surat27 Jul 2023AY 2014-15

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.73/Srt/2023 (Assessment Year: 2014-15) (Physical Hearing) Divyaben Prafulchand Parmar, Vs. The Ito, Ward-1(3)(1), 1-2, Harikrishna Niwas, B/H Braham Surat. Kumari Ashram, Bhatar Road, Surat – 395017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acbpp9559Q (Appellant) (Respondent)

Section 115BSection 143(3)Section 68Section 69

2% of the LTCG was also added by the assessing officer, as unexplained expenditure under section 69 of the Act. 14. The Assessing Officer also held that tax on the above unaccounted income of Rs.49,99,877/- (Rs.49,01,840 + Rs.98,037) should be calculated @ 30% as per the mandate of section 115BBE, of the Income

SHRI JIVRAJBHAI H. BALAR,,SURAT vs. THE INCOME TAX OFFICER, WARD-8(2),, SURAT

In the result, appeals filed by the assessee for assessment years 2004-05 to 2007-08, ( IT(SS)A Nos

ITA 1245/AHD/2015[2010-11]Status: DisposedITAT Surat31 May 2022AY 2010-11

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./It(Ss)A No.150 To 154/Ahd/2015 ("नधा"रणवष" / Assessment Year: (2004-05 To 2008-09) (Physical Court Hearing) Jivrajbhai Harkhabhai Balar, The Dcit, Central Circle-1, Vs. 59, Kantareshwar Society, Surat. Katargam Road, Surat-395004. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Abopb8649M (Appellant) (Respondent) आयकरअपीलसं./Ita No.1245/Ahd/2015 ("नधा"रणवष" / Assessment Year: (2010-11) Jivrajbhai Harkhabhai Balar, Vs. The Dcit, Central Circle-1, 59, Kantareshwar Society, Surat. Katargam Road, Surat-395004. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Abopb8649M (Appellant) (Respondent)

For Appellant: Shri Rasesh Shah, CAFor Respondent: Shri H. P. Meena, CIT(DR) & Ms Anupama Singla, Sr. DR
Section 143(3)Section 153C

gain. 2) It is, therefore, prayed that the impugned penalty levied by the Ld AO be deleted. 3) The Appellant craves leave to add, amend, alter, modify, substitute, delete, change or vary all or any of the Ground or Grounds of Appeal." The grounds of appeal in all years are identical. 28. In respect of penalty appeals, the appellant submitted

ARUN KUMAR GUPTA, DCIT, CIRCLE-1(3), SURAT, ADAJAN vs. CHUNIBHAI HARIBHAI GAJERA, ADARSH NAGAR SOCIETY

In the result, the appeal of the revenue is dismissed

ITA 778/SRT/2023[2013-14]Status: DisposedITAT Surat17 Nov 2025AY 2013-14

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Prusethआयकर अपील सं./Ita Nos.778 & 779/Srt/2023 Assessment Years: (2013-14 & 2014-15) (Physical Hearing) Dcit, Vs. Chunibhai Haribhai Gajera, Circle - 1(3), 67, Adarsh Nagar Society, Athwalines, Surat Surat - 395 001 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aawpg3525A (अपीलाथ"/Appellant) (""थ" /Respondent) Appellant By Shri Mukesh Jain, Cit-Dr Respondent By Shri Rasesh Shah, Ca Date Of Hearing 03/09/2025 Date Of Pronouncement 17/11/2025

Section 143(3)Section 250

2) of the Act was issued on 24.10.2018. As per the investigation report, M/s Kyra Landscapes Ltd (earlier named as M/s TCL Technologies Ltd) was indulged in providing bogus long-term capital gain to different persons. The ITA Nos.778 & 779/SRT/2023/AYs 2013-14 & 2014-15 Chunibhai Haribhai Gajera assessee had purchased the physical shares of the aforesaid scrip @ Rs.10/- per share

ARUN KUMAR GUPTA, DCIT, CIRCLE-1(3), SURAT, ADAJAN vs. CHUNIBHAI HARIBHAI GAJERA, ADARSH NAGAR SOCIETY

In the result, the appeal of the revenue is dismissed

ITA 779/SRT/2023[2014-15]Status: DisposedITAT Surat17 Nov 2025AY 2014-15

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Prusethआयकर अपील सं./Ita Nos.778 & 779/Srt/2023 Assessment Years: (2013-14 & 2014-15) (Physical Hearing) Dcit, Vs. Chunibhai Haribhai Gajera, Circle - 1(3), 67, Adarsh Nagar Society, Athwalines, Surat Surat - 395 001 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aawpg3525A (अपीलाथ"/Appellant) (""थ" /Respondent) Appellant By Shri Mukesh Jain, Cit-Dr Respondent By Shri Rasesh Shah, Ca Date Of Hearing 03/09/2025 Date Of Pronouncement 17/11/2025

Section 143(3)Section 250

2) of the Act was issued on 24.10.2018. As per the investigation report, M/s Kyra Landscapes Ltd (earlier named as M/s TCL Technologies Ltd) was indulged in providing bogus long-term capital gain to different persons. The ITA Nos.778 & 779/SRT/2023/AYs 2013-14 & 2014-15 Chunibhai Haribhai Gajera assessee had purchased the physical shares of the aforesaid scrip @ Rs.10/- per share

BALUBHAI MUSTUFABHAI MAHIDA,SURAT vs. DCIT, CIRCLE-2(2), SURAT

In the result, this ground of appeal is allowed for statistical purposes

ITA 580/SRT/2019[2012-13]Status: DisposedITAT Surat29 Dec 2022AY 2012-13

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Physical Hearing) Balubhai Mustufabhai Mahida, D.C.I.T., Post Valak, Valak Kamrej, Circle-2(2), Vs. Surat-394180 Surat. Pan No. Bkdpm 8643 R Appellant/ Assessee Respondent/ Revenue

Section 254(1)Section 54Section 54BSection 55A

vi) Jagrutiben V Patel Vs ITO Ward 2(2)(2), Surat and Bharvinaben V Patel Vs ITO Ward 2(2)(2), Surat ITA No. 650 & 651/Ahd/2017) (vii) Shri Mahadevbhai Mohanbhai Naik (ITA No. 820/Ahd/2016) (viii) CIT Vs Nitin Jayantilal Shah 48 SOT 16 (Ahd. Trib) (ix) Prembhai Kanjibhai Tandel Vs ITO 47 CH 724 (Ahd. Trib). 18. On the other

SATHAIYA GANAPATHY,PUDUKOTTAI vs. ITO, WARD 1 , BARDOLI

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

ITA 330/SRT/2025[2015-16]Status: DisposedITAT Surat26 Nov 2025AY 2015-16

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Prusethआयकर अपील सं./Ita No.329 & 330/Srt/2025 Assessment Years: (2015-16) (Physical Hearing) Sathaiya Ganapathy, Vs. Ito, Ts No.4114, South 3 Rd Street, Ward – 1, Pukukottai, Tamil Nadu - 622001 Bardoli "थायीलेखासं./जीआइआरसं./Pan/Gir No: Ahbpg2414Q (अपीलाथ"/Appellant) (""थ" /Respondent) Appellant By Shri Mayank A. Ogriwala, Ca Respondent By Shri Ajay Uke, Sr. Dr Date Of Hearing 02/09/2025 Date Of Pronouncement 26/11/2025

Section 111ASection 16Section 24Section 250Section 271(1)(c)Section 69A

VI-A would not arise. Therefore, the ratio of the decisions relied upon could not be applied to the facts of the instant case. Hence, the ground is dismissed. 13. Regarding the issue of tax rate applicable on short-term capital gain (STCG), we find that the material placed on record shows that all transactions were routed through recognized stock

SATHAIYA GANAPATHY,PUDUKOTTAI vs. ITO, WARD 1, BARDOLI

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

ITA 329/SRT/2025[2015-16]Status: DisposedITAT Surat26 Nov 2025AY 2015-16

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Prusethआयकर अपील सं./Ita No.329 & 330/Srt/2025 Assessment Years: (2015-16) (Physical Hearing) Sathaiya Ganapathy, Vs. Ito, Ts No.4114, South 3 Rd Street, Ward – 1, Pukukottai, Tamil Nadu - 622001 Bardoli "थायीलेखासं./जीआइआरसं./Pan/Gir No: Ahbpg2414Q (अपीलाथ"/Appellant) (""थ" /Respondent) Appellant By Shri Mayank A. Ogriwala, Ca Respondent By Shri Ajay Uke, Sr. Dr Date Of Hearing 02/09/2025 Date Of Pronouncement 26/11/2025

Section 111ASection 16Section 24Section 250Section 271(1)(c)Section 69A

VI-A would not arise. Therefore, the ratio of the decisions relied upon could not be applied to the facts of the instant case. Hence, the ground is dismissed. 13. Regarding the issue of tax rate applicable on short-term capital gain (STCG), we find that the material placed on record shows that all transactions were routed through recognized stock

BILAKHIA HOLDINGS PVT. LTD.,,VAPI vs. THE JT.CIT.,VAPI RANGE,, VAPI

In the result, the appeal of the assessee is allowed for assessment year 2010-11

ITA 1415/AHD/2015[2009-10]Status: DisposedITAT Surat04 Feb 2020AY 2009-10

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

Section 115JSection 143(3)Section 144C

vi. 258/712 (Guj) 3. Adopting notes to accounts does not amount to qualification. Reliance is placed on Paragraph 3.9 and in particular 3.12 of the ICAI’s guidelines specify the manner of qualification-adoption of notes of accounts (as contained in Para 4.6 at Pg. 11 of the paper book) cannot amount to a qualification. 4. The decision

BILAKHIA HOLDINGS PVT. LTD.,,VAPI vs. THE ADDL.CIT.,VAPI RANGE,, VAPI

In the result, the appeal of the assessee is allowed for assessment year 2010-11

ITA 1416/AHD/2015[2010-11]Status: DisposedITAT Surat04 Feb 2020AY 2010-11

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

Section 115JSection 143(3)Section 144C

vi. 258/712 (Guj) 3. Adopting notes to accounts does not amount to qualification. Reliance is placed on Paragraph 3.9 and in particular 3.12 of the ICAI’s guidelines specify the manner of qualification-adoption of notes of accounts (as contained in Para 4.6 at Pg. 11 of the paper book) cannot amount to a qualification. 4. The decision

BILAKHIA HOLDING P LTD,VAPI vs. THE JT.CIT.,VAPI RANGE,, VAPI

In the result, the appeal of the assessee is allowed for assessment year 2010-11

ITA 507/AHD/2013[2008-09]Status: DisposedITAT Surat04 Feb 2020AY 2008-09

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

Section 115JSection 143(3)Section 144C

vi. 258/712 (Guj) 3. Adopting notes to accounts does not amount to qualification. Reliance is placed on Paragraph 3.9 and in particular 3.12 of the ICAI’s guidelines specify the manner of qualification-adoption of notes of accounts (as contained in Para 4.6 at Pg. 11 of the paper book) cannot amount to a qualification. 4. The decision

BILAKHIA HOLDINGS PVT. LTD.,VAPI vs. THE ACIT.,VAPI CIRCLE, VAPI

In the result, the appeal of the assessee is allowed for assessment year 2010-11

ITA 795/AHD/2016[2011-12]Status: DisposedITAT Surat04 Feb 2020AY 2011-12

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

Section 115JSection 143(3)Section 144C

vi. 258/712 (Guj) 3. Adopting notes to accounts does not amount to qualification. Reliance is placed on Paragraph 3.9 and in particular 3.12 of the ICAI’s guidelines specify the manner of qualification-adoption of notes of accounts (as contained in Para 4.6 at Pg. 11 of the paper book) cannot amount to a qualification. 4. The decision

ASSISTANT COMMISSIONER OF INCOME TAX, VALSAD CIRCLE, VALSAD vs. M/S. MANGALDEEP, VALSAD

In the result, appeals in ITA No

ITA 699/SRT/2018[2015-16]Status: DisposedITAT Surat26 Jan 2022AY 2015-16

Bench: Shripawan Singh, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.699/Srt/2018 ("नधा"रणवष" / Assessment Years: (2015-16) (Virtual Court Hearing) The Acit, Valsad Circle, Vs. M/S. Mangaldeep, 1St Floor, Shankeshwar Complex, Valsad. Dhobiwad, Valsad, Valsad-396001. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aahfm7130L (Appellant) (Respondent) Cross Objection No.11/Srt/2021 [Arising In Ita No.699/Srt/2018] ("नधा"रणवष" / Assessment Years: (2015-16) (Virtual Court Hearing) M/S. Mangaldeep, Vs. The Acit, Valsad Circle, 1St Floor, Shankeshwar Complex, Valsad. Dhobiwad, Valsad, Valsad-396001. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aahfm7130L (Applicant-Co-Objector) (Respondent)

Section 133ASection 143(2)Section 143(3)Section 14ASection 36(1)(va)Section 69A

vi) The assessee craves to add, modify or alter any grounds during thecourse of appeal proceedings.” 3. Grounds of appeal raised by the assessee in Cross Objection No. 11/SRT/2021, are as follows: “1. Ld. CIT(A), Valsad has erred in law and on fact to upheld AO’s disallowance of Rs.57,867/- U/s 14A of the Act without considering

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4, SURAT, SURAT vs. SAHAJANAND MEDICAL TECHNOLOGIES LIMITED, SURAT

In the result, appeal of revenue is dismissed whereas CO of assessee is dismissed as infructuous

ITA 364/SRT/2025[2020-21]Status: DisposedITAT Surat19 Sept 2025AY 2020-21

Bench: Ms. Suchitra R. Kammble & Shri Bijayananda Prusethआयकर अपील सं./Ita Nos.364 & 366/Srt/2025 Ays: (2020-21 & 2018-19) (Physical Hearing) Dcit, Vs. Sahajanand Medical Technologies Central Circle – 4, Limited, Surat 221, C-Wing, Kanakia Atrium Andheri Kurla Road, Jb Nagar, Andheri East, Mumbai - 400059 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aafcs7694L (Appellant) (Respondent) Co. No.11/Srt/2025 (Ay 2018-19) [Arising Out Of Ita No.366/Srt/2025] Sahajanand Medical Technologies Vs. Dcit, Limited, Central Circle – 4, 221, C-Wing, Kanakia Atrium Andheri Surat Kurla Road, Jb Nagar, Andheri East, Mumbai - 400059 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aafcs7694L (Appellant) (Respondent) Appellant By Shri Rajesh C. Shah, Ca Respondent By Shri Ravinder Sindhu, Cit-Dr Date Of Hearing 28/08/2025 Date Of Pronouncement 19/09/2025

Section 142(1)Section 143(2)Section 250Section 35(1)(iv)Section 80G

VI, the AO has added the amount as income of the assessee. However, the Hon’ble Delhi High Court in case of Chamber of Tax Consultants (supra) has clearly held that the Income Computation and Disclosure Standards (ICDS) in exercise of power u/s 145(2) of the Act cannot override binding judicial precent or provisions of the Act or Rules

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4, SURAT, SURAT vs. SAHAJANAND MEDICAL TECHNOLOGIES LIMITED, SURAT

In the result, appeal of revenue is dismissed whereas CO of assessee is dismissed as infructuous

ITA 366/SRT/2025[2018-19]Status: DisposedITAT Surat19 Sept 2025AY 2018-19

Bench: Ms. Suchitra R. Kammble & Shri Bijayananda Prusethआयकर अपील सं./Ita Nos.364 & 366/Srt/2025 Ays: (2020-21 & 2018-19) (Physical Hearing) Dcit, Vs. Sahajanand Medical Technologies Central Circle – 4, Limited, Surat 221, C-Wing, Kanakia Atrium Andheri Kurla Road, Jb Nagar, Andheri East, Mumbai - 400059 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aafcs7694L (Appellant) (Respondent) Co. No.11/Srt/2025 (Ay 2018-19) [Arising Out Of Ita No.366/Srt/2025] Sahajanand Medical Technologies Vs. Dcit, Limited, Central Circle – 4, 221, C-Wing, Kanakia Atrium Andheri Surat Kurla Road, Jb Nagar, Andheri East, Mumbai - 400059 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aafcs7694L (Appellant) (Respondent) Appellant By Shri Rajesh C. Shah, Ca Respondent By Shri Ravinder Sindhu, Cit-Dr Date Of Hearing 28/08/2025 Date Of Pronouncement 19/09/2025

Section 142(1)Section 143(2)Section 250Section 35(1)(iv)Section 80G

VI, the AO has added the amount as income of the assessee. However, the Hon’ble Delhi High Court in case of Chamber of Tax Consultants (supra) has clearly held that the Income Computation and Disclosure Standards (ICDS) in exercise of power u/s 145(2) of the Act cannot override binding judicial precent or provisions of the Act or Rules