Here is Portfolio page of Ankur, with all his work

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). ...
There is Difference between accounting income & taxable income held SC.
Nov. 06, 2015
Appellant NPO in USA granted tax exempt. as edu. institute there. It has branch office in India. CBDT rejected its application u/s10(23C). On writ HC upheld order of CBDT. On appeal SC Held, diff. between accounting income & taxable income. u/s 10, it is accounting income. It is open to prescribed authority, if it deems fit, to stipulate that certain percentage of accounting income would be utilized for impartation of education in India.
As assessees had insufficient cause, thus delay in filling case was not condoned
Dec. 11, 2015
In search, documents, a/c books & papers seized from office of assessees. AO issued notice u/s 153A for block assessm't proceedings. AO passed assessm't order by making addit'ns. CIT(A) & ITAT upheld AO's order. On appeal HC found, assessees have not shown sufficient cause for condoning delay. Parameters laid down by SC in in Esha Bhattacharjee v. Managing Committee of Raghunathpur, Nafar Academy 2013 (5) CTC 547 delay held not to be cond...
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 speculatio...
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 adopte...
Roll over charges represent diff. arising due to change in foreign ex. rates. SC
Nov. 06, 2015
Assessee-Co procured foreign currency loan for business expansion. AO disallowed roll over premium charges paid by assessee for foreign ex. forward contracts to bank on ground, charges were incurred in connection with purchase of capital asset. Hence, were inadmissible for deduction u/s 36(1)(iii) or u/s 37. On appeal CIT & HC allowed it. On appeal SC held, Roll over charges represent difference arising on account of change in foreign ex. rates....
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
Deduct'n calim u/s 80-IB(10) on housing project allowed to assessee, HC
Dec. 08, 2015
Assessee-HUF claimed deduct'n u/s 80-IB(10) on housing project. AO disallowed it. On appeal, CIT(A) allowed it holding that assessee need not own property to claim deduct'n u/s 80-IB(10) & car park area would not be held as private area. On appeal, Tribunal upheld it. On appeal HC upheld it too as in proviso. no justification in including car park in definit'n of built-up area of residential unit for purpose of determining maximum built...
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 m...
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.-...