2017 (5) TMI 1739

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.... SOPARKAR, SR. ADVOCATE with MR B S SOPARKAR, CAVEATOR for the Opponent(s) No. 1 ORAL ORDER (PER : HONOURABLE MR.JUSTICE M.R. SHAH) Draft amendment allowed. [1.0] Feeling aggrieved and dissatisfied with the impugned judgment and order dated 03.05.2016 passed by the learned Income Tax Appellate Tribunal, "B" Bench, Ahmedabad (hereinafter referred to as "ITAT") in ITA No.3032/Ahd/2011 for the AY....

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.... of the Revenue and Shri S.N. Soparkar, learned Counsel appearing on behalf of the assessee. [3.0] Now, so far as proposed question of law No.(1) is concerned, it appears that the assessee claimed the revised working of capital gains in respect of transaction of BSE shares, however the same was denied by the Assessing Officer on the ground that the same was not prayed either in return or in the r....

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....Now, so far as the proposed question No.(3) i.e. whether the learned ITAT was justified in deleting the disallowance of deduction u/s 40(a)(ia) of Rs. 37,43,705/with respect to reimbursement of expenses is concerned, the said proposed question of law is also answered against the Revenue by the Division Bench of this Court in the case of Commissioner of Income tax-III vs. Gujarat Narmada Valley Fer....