Here is Portfolio page of Ankur, with all his work

CIT(A) method to arrive at fair market value of plot, held better, ITAT
Dec. 24, 2015
Assessee-Co. sold its factory land. It reported fair market value (FMV) of land at Rs.14.12 cr. on basis of report of reg. valuer &, worked out capital gain. AO valued it 1.7 cr on basis of unused land. CIT(A) rejected assesse's valuation report & calulated FMV 2.78 cr. On appeal ITAT held, CIT(A) had adopted probable method for arriving at FMV of plot & that annual rate of appreciat'n method. His method held better than method adopted …
AO computed higher indirect cost that reduced benefits u/s 80HHC deleted by HC.
Nov. 04, 2015
Assessee-Co. traded & exported. It was entitled for deduction u/s 80HHC. AO computed higher indirect cost attributable to turnover by taking total indirect cost in ratio of export turnover & total turnover which reduced income benefit u/s 80HHC. CIT & ITAT allowed it. On appeal HC disallowed it holding that ITAT's decision allowed deduction in previous year. Thus, assessee held entitled to benefit of Rs.50 lacs & not Rs.30 lakhs u/s 80HHC(3)(b).-01…
Assessee-Bank held liable to pay interest u/s 201(1A) as failed to deduct TDS.
Dec. 09, 2015
Assessee-bank failed to deduct TDS on deposits made by (HPSEB). AO held assessee to be in default & determined liability u/s 201(1) & 201(1A). On appeal, CIT(A) upheld it. On appeal ITAT held, assessee-bank was required to deduct tax. Since assessee has later on deducted tax at 1% which was also approved by Income-tax authorities, there can't be any default for deduct'n of tax on part of bank & assessee liable to pay interest u/s 201(1A…
No explanation for delay in amending petition, could'nt be condoned, held HC.
Nov. 04, 2015
Writ petition filed by trustees.They expired during proceedings. New trustees took over. They filed application for amendment in petition. Delay took place due to which condonation of delay was sought on ground that AOR informed them that records were not available. HC held, comparing with other entries in register, found that rule in writ petition was not discharged for default. Delay of 32 years was unexplained, thus can't be condoned.
Set-off claim of assessee disallowed by AO, allowed u/s 73 of I.T. Act by HC .
Dec. 11, 2015
Assessee was share broker & member of NSE & BSE Ltd. In return showed loss. Its set off claim was disallowed by AO as it was a pvt. Co. & not banking Co. CIT(A) upheld it. Tribunal held loss suffered as business loss. On appeal HC held, prohibit'n u/s 73 is attracted only to set off loss in speculative business against profit from other business, because loss from speculation business should be set off only from a profit of speculation …
Sum paid by Co. to lessor was not revenue exp. made for working cap. asset, SC
Nov. 14, 2015
Assessee Co. acquired from State Govt. lease of limestone quarries for manufacture of cement. In a/c year Co. paid its lessor as per two covenants & claimed to deduct sum in computation of its business profits u/s 10(2)(xv). AAC, ITO & Tribunal rejected it. On reference HC upheld it. SC upheld it too holding that sum agreed to be paid by Co. to lessor was not revenue exp. which was made by Co. for working capital asset which it had acquired.-010366
As Internat'nl transact'ns consistent with ALP, thus no TP adjustments, ITAT
Dec. 11, 2015
Assessee, subsidiary of foreign Co. mfd. & traded fluid power hydraulic equipm't. It imported raw materials & exported finished goods. TPO held, separate benchmarking required to be undertaken for manufacturing as well as trading segment. Thus, an adjustment was computed by applying external TNMM. On appeal ITAT held, international transactions entered into were consistent with ALP & no transfer pricing adjustment was required to be mad…
Assessee directed to show records on which change in accounting policy made.
Nov. 23, 2015
Assessee filed return declaring loss. Assessment completed u/s 143(3) &Sec.115JB. AO reopened assessment on ground of no change in accounting policy regarding dep. AO made addit'n to book profit on account of applying reduced rate of dep. CIT(A) upheld it. On appeal ITAT held, issue on merits is set aside to record of AO for deciding afresh after verification & examination of relevant record, which assessee has not produced before AO & Tribunal.-00…
Non obstante clause in Sec. 80-IA(5) overrides all proviso. held HC.
Dec. 08, 2015
Tribunal held, u/s 80-IA(5), while computing profits from eligible business for allowing deduct'n u/s 80-IB, deduct'n of losses set off against profits from other business was to be taken into considerat'n. On appeal HC held, non obstante clause in Sec. 80-IA(5) overrides all proviso. In absence of non obstante clause & because of non-obstante clause, set off amount against other income of assessee has to be ignored. Tribunal's order was upheld.-00…
AO order of withdrawl of benefit of investment allowance held incorrect by HC.
Nov. 02, 2015
Assessee was granted benefit of investment allowance u/s 32A. Under a scheme industrial units held by assessee were transferred to other companies. AO passed order u/s 32A(5) withdrawing benefit of investment allowance. On appeal CIT(A) allowed it. However, ITAT disallowed holding that scheme of arrangement did not result in 'transfer' u/s 32A(5). On appeal HC upheld ITAT decision holding that there was transfer within meaning of Section 32A(5). -0…