CIT v. Gurubachhan Singh J. Juneja

Anil Radheshyam Sharma, Surat vs. ITO, Ward 2(3)(1), Surat

In the result, the appeal of the assessee is partly allowed

Bench: Shri Siddhartha Nautiyal & Shri Bijayananda Prusethआयकर अपील सं./Ita No.888/Srt/2024 Assessment Year: 2011-12 (Hybrid Hearing) Anil Radheshyam Sharma, Income Tax Officer, Ward – बनाम/ 73, Shyamal Dham Row 2(3)(1), Surat Vs. House, Godadara, Surat – 395 012 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Bdhps8135D (""थ"/Respondent) (अपीलाथ"/Appellant)

…ance on the decisions given in following cases : (i) Kailashnath Arunkumar Dube Vs. ITO ITA No.623/SRT/2024 (ii) CIT Vs. Pradeep Shantilal Patel (42 taxmann.com 2 (Guj) ITA No.888/Srt/2024 A.Y 11-12 Anil R Sharma (iii) CIT Vs. Gurubachhan Singh J. Juneja ( 302 ITR 63 (Guj)) (iv) CIT Vs. President Industries (158 CTR 372 (Guj) 6. On the other hand, the Ld. Sr. DR, relied on the orders passed by the lower authorities. He submitted that the case of the assessee was reopened on the basis of information about the huge cash credit in the bank accounts. The assessee had not filed return of income u/s.139 of the Act…

ACIT, Allahabad vs. Kesarwani Zarda Bhandar, Allahabad

In the result, the appeal of Revenue is dismissed and the appeal of the assessee is partly allowed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

…production. Sir total sales or total production cannot be regarded as profit/ income of the assessee. In support of this the assessee rely on following decisions…………. 1- (2003) 263 ITR 610 (MP) 2- (2002) 258 ITR 654 (Guj) 3- (2008) 304 ITR 52 (MP) 4- (2008) 302 ITR 63 (Guj) 5- (2011) 12 ITR 748 (ITAT Delhi Bench) To sum up the whole submissions on the point of the addition of the amount of alleged suppression of production of tobacco and addition of Rs 6,95,66,165/- treating such amount as income of the assessee. The questions to be considered for adjudication by the Learned appellate court are broadly as unde…

M/S Kesarwani Zarda Bhandar, Allahabad vs. Jt.CIT, Allahabad

In the result, the appeal of Revenue is dismissed and the appeal of the assessee is partly allowed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

…production. Sir total sales or total production cannot be regarded as profit/ income of the assessee. In support of this the assessee rely on following decisions…………. 1- (2003) 263 ITR 610 (MP) 2- (2002) 258 ITR 654 (Guj) 3- (2008) 304 ITR 52 (MP) 4- (2008) 302 ITR 63 (Guj) 5- (2011) 12 ITR 748 (ITAT Delhi Bench) To sum up the whole submissions on the point of the addition of the amount of alleged suppression of production of tobacco and addition of Rs 6,95,66,165/- treating such amount as income of the assessee. The questions to be considered for adjudication by the Learned appellate court are broadly as unde…

Manoj Kumar Khubani, Barmer vs. Dc Cen Cir 2 Jdh, Jodhpur

In the result, stands ALLOWED

Bench: DR. MITHA LAL MEENA (Accountant Member), DR. S. SEETHALAKSHMI (Judicial Member)

…ce from the judgment of Hon'ble Gujurat High Court in the case of CIT vs. Samir Synthetics Mill reported in 326 ITR 410. The appellant places further reliance on the judgement of Gujarat High Court in the case of CIT vs. Gurubachhan Singh J Juneja reported in 302 ITR 63. The relevant extract of the judgment is reproduced as under: 6. Hence, in absence of any material on record to show that there was any unexplained investment made by the assessee which was reflected by the alleged unaccounted sales, the finding of the Tribunal that only the gross profit on the said amount can be brought to tax does not call for a…

Mukeshbhai Karshanbhai Baflipara, Surat vs. Income Tax Officer Ward-3(3)(1), Surat

In the result, appeal of the assessee is allowed partly

Bench: Shri Pawan Singh & Shri Bijayananda Prusethआयकर अपील सं./Ita No.683/Srt/2024 Assessment Year: (2016-17) (Physical Hearing) Mukeshbhai Karshanbhai Baflipara Income Tax Officer, Ward- बनाम/ D/801,Shiv Plaza Apartment, 3(3)(1), Surat, Adajan, Near Vs. Gadhpur Township Road, Nr. Gas Circle, Surat-395001 Sarthana Jakat Naka, Varachha Road, Surat-395 006 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aixpb 2114 M (अपीलाथ"/Appellant) (""थ" /Respondent) िनधा"रती की ओर से /Appellant By Shri Kiran K. Shah, Ca राज" की ओर से /Respondent By Shri Manish Jain, Sr-Dr सुनवाई की तारीख/Date Of Hearing 12/03/2025 उद्घोषणा की तारीख/Date Of Pronouncement 15/04/2025

…IN THE INCOME-TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER & SHRI BIJAYANANDA PRUSETH, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.683/SRT/2024 Assessment Year: (2016-17) (Physical hearing) Mukeshbhai Karshanbhai Baflipara Income Tax Officer, Ward- बनाम/ D/801,Shiv Plaza Apartment, 3(3)(1), Surat, Adajan, Near Vs. Gadhpur Township Road, Nr. Gas Circle, Surat-395001 Sarthana Jakat Naka, Varachha Road, Surat-395 006 "थायीलेखासं./जीआइआरसं./PAN/GIR No: AIXPB 2114 M (अपीलाथ"/Appellant) (""थ" /Respondent) िनधा"रती की ओर से /Appellant by Shri Kiran K. Shah, CA राज" की ओर से /Respondent…

Radha Madhav Eco-Industrial Park, Valsad vs. Asstt. Commissioner of Income Tax, Central Circle-1, Vapi

In the result, appeal of the assessee is partly allowed and appeal of revenue is dismissed

Bench: Shri Pawan Singh & Shri Bijayananda Prusethआयकर अपील सं./Ita No.762/Srt/2023 Assessment Year: (2021-22) (Hybrid Hearing) The Acit, Vs. Radha Madhav Eco-Industrial Park, Central Circle – 1, Village Degam, Opp – Padmavati Vapi Logistics, Nasik Road, Degam, Tal – Vapi, District – Valsad – 396191, Gujarat "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aaaofr2845L (Appellant) (Respondent) आयकर अपील सं./Ita No.41/Srt/2024 Assessment Year: (2021-22) Radha Madhav Eco-Industrial Park, Vs. The Acit, Village Degam, Opp – Padmavati Central Circle – 1, Logistics, Nasik Road, Degam, Tal – Vapi, Vapi District – Valsad – 396191, Gujarat "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aaaofr2845L (Appellant) (Respondent) आयकर अपील सं./Ita Nos.625/Srt/2024 Assessment Year: (2018-19) The Acit, Vs. Radha Madhav Eco-Industrial Park, Central Circle – 1, Village Degam, Opp – Padmavati Vapi Logistics, Nasik Road, Degam, Tal – Vapi, District – Valsad – 396191, Gujarat "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aaaofr2845L (Appellant) (Respondent) आयकर अपील सं./Ita No.632/Srt/2024 Assessment Year: (2018-19) Radha Madhav Eco-Industrial Park, Vs. The Acit, Village Degam, Opp – Padmavati Central Circle – 1, Logistics, Nasik Road, Degam, Tal – Vapi, Vapi District – Valsad – 396191, Gujarat "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aaaofr2845L (Appellant) (Respondent)

…tal receipts cannot be taxed and only the profit embedded therein has to be taxed. The appellant had relied on the decisions of the Hon’ble jurisdictional High Court in case of CIT vs. President Industries, 258 ITR 654 (Guj.), CIT vs. Gurbachhan Singh Juneja, 302 ITR 63 (Guj.) and DCIT vs. Narayan Land Estate, ITA No.1836/2019, dated 10.06.2022 (Guj.). In all these decisions, it has been held that on-money / unaccounted sales cannot be totally brought to tax because developers have to incur various unaccounted expenses for procurement of land, approval of the projects and other civil expenses. The appellant also…

Assistant Commissioner of Income Tax, Central Circle, Vapi vs. Radha Madhav Eco Industrial Park, Vapi

Bench: Shri Pawan Singh & Shri Bijayananda Prusethआयकर अपील सं./Ita No.762/Srt/2023 Assessment Year: (2021-22) (Hybrid Hearing) Vs. The Acit, Radha Madhav Eco-Industrial Park, Central Circle - 1, Village Degam, Opp – Padmavati Vapi Logistics, Nasik Road, Degam, Tal – Vapi, District - Valsad – 396191, Gujarat स्थायीलेखासं./जीआइआरसं./Pan/Gir No: Aaaofr2845L (Appellant) (Respondent) आयकर अपील सं./Ita No.41/Srt/2024 Assessment Year: (2021-22) Radha Madhav Eco-Industrial Park, Vs. The Acit, Village Degam, Opp – Padmavati Central Circle – 1, Logistics, Nasik Road, Degam, Tal – Vapi, Vapi District - Valsad - 396191, Gujarat स्थायीलेखासं./जीआइआरसं./Pan/Gir No: Aaaofr2845L (Appellant) (Respondent) आयकर अपील सं./Ita Nos.625/Srt/2024 Assessment Year: (2018-19) The Acit, Vs. Radha Madhav Eco-Industrial Park, Central Circle – 1, Village Degam, Opp - Padmavati Vapi Logistics, Nasik Road, Degam, Tal – Vapi, District - Valsad – 396191, Gujarat स्थायीलेखासं./जीआइआरसं./Pan/Gir No: Aaaofr2845L (Appellant) (Respondent) आयकर अपील सं./Ita No.632/Srt/2024 Assessment Year: (2018-19) Radha Madhav Eco-Industrial Park, Vs. The Acit, Village Degam, Opp - Padmavati Central Circle – 1, Logistics, Nasik Road, Degam, Tal – Vapi, Vapi District - Valsad - 396191, Gujarat स्थायीलेखासं./जीआइआरसं./Pan/Gir No: Aaaofr2845L (Appellant) (Respondent)

…of purchase consideration of plot. 5) On the facts and in the circumstances of the case and in law the Ld. CIT(A) erred in relying upon the rulings in the case of CIT Vs President Industries reported in 258 ITR 654, CIT Vs Gurubachhan Singh Juneja reported in 302 ITR 63 especially when the facts involved in these cases are not identical to the assessee's case because the issue decided of unaccounted sales of goods and not receipt of on-money in construction/development business 6) On the facts and in the circumstances of the case and in law the Ld. CIT(A) ought to have upheld the order of the Assessing Officer. 7…

Assistant Commissioner of Income Tax, Central Circle, Vapi vs. Radha Madhav Eco Industrial Park, Vapi

Bench: Shri Pawan Singh & Shri Bijayananda Prusethआयकर अपील सं./Ita No.762/Srt/2023

…tal receipts cannot be taxed and only the profit embedded therein has to be taxed. The appellant had relied on the decisions of the Hon'ble jurisdictional High Court in case of CIT vs. President Industries, 258 ITR 654 (Guj.), CIT vs. Gurbachhan Singh Juneja, 302 ITR 63 (Guj.) and DCIT vs. Narayan Land Estate, ITA No.1836/2019, dated 10.06.2022 (Guj.). In all these decisions, it has been held that on-money / unaccounted sales cannot be totally brought to tax because developers have to incur various unaccounted expenses for procurement of land, approval of the projects and other civil expenses. The appellant also…

Radha Madhav Eco-Industrial Park, Vapi vs. ACIT, Centarl Circle-1, Vapi

In the result, appeal of the assessee is partly allowed and appeal of revenue is dismissed

Bench: Shri Pawan Singh & Shri Bijayananda Prusethआयकर अपील सं./Ita No.762/Srt/2023 Assessment Year: (2021-22) (Hybrid Hearing) The Acit, Vs. Radha Madhav Eco-Industrial Park, Central Circle – 1, Village Degam, Opp – Padmavati Vapi Logistics, Nasik Road, Degam, Tal – Vapi, District – Valsad – 396191, Gujarat "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aaaofr2845L (Appellant) (Respondent) आयकर अपील सं./Ita No.41/Srt/2024 Assessment Year: (2021-22) Radha Madhav Eco-Industrial Park, Vs. The Acit, Village Degam, Opp – Padmavati Central Circle – 1, Logistics, Nasik Road, Degam, Tal – Vapi, Vapi District – Valsad – 396191, Gujarat "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aaaofr2845L (Appellant) (Respondent) आयकर अपील सं./Ita Nos.625/Srt/2024 Assessment Year: (2018-19) The Acit, Vs. Radha Madhav Eco-Industrial Park, Central Circle – 1, Village Degam, Opp – Padmavati Vapi Logistics, Nasik Road, Degam, Tal – Vapi, District – Valsad – 396191, Gujarat "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aaaofr2845L (Appellant) (Respondent) आयकर अपील सं./Ita No.632/Srt/2024 Assessment Year: (2018-19) Radha Madhav Eco-Industrial Park, Vs. The Acit, Village Degam, Opp – Padmavati Central Circle – 1, Logistics, Nasik Road, Degam, Tal – Vapi, Vapi District – Valsad – 396191, Gujarat "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aaaofr2845L (Appellant) (Respondent)

…tal receipts cannot be taxed and only the profit embedded therein has to be taxed. The appellant had relied on the decisions of the Hon’ble jurisdictional High Court in case of CIT vs. President Industries, 258 ITR 654 (Guj.), CIT vs. Gurbachhan Singh Juneja, 302 ITR 63 (Guj.) and DCIT vs. Narayan Land Estate, ITA No.1836/2019, dated 10.06.2022 (Guj.). In all these decisions, it has been held that on-money / unaccounted sales cannot be totally brought to tax because developers have to incur various unaccounted expenses for procurement of land, approval of the projects and other civil expenses. The appellant also…