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Section 684 Section 80I3 Section 143(3)3 Section 269S3 Addition to Income3 Section 145(3)2 Section 54F2 Section 143(2)2 Deduction2 Disallowance

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

depreciable asset used for the purpose of business. Therefore, to say that the gain on sale of business asset is taxable under the head "business income" is contrary to provisions of section 50 and if accepted, it would render section 50 nugatory. h. The AO's contention that there is no connection between asset becoming sterile and capital gain. This

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

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

M/S. JAY KESAR BHAVANI DEVELOPERS PVT.LTD.,SURAT vs. THE ITOI,WD.1(3), SURAT

JAYANTILAL VALLABHBHAI RAMOLIYA,SURAT vs. ITO, WARD -3(3)(2), SURAT

DCIT, CIRCLE-1(1)(2), SURAT vs. J B SYNTEX PVT. LTD, SURAT