PATEL KENWOOD PRIVATE LIMITED,ANKLESHWAR vs. INCOME TAX OFFICER, VADODARA

In the result, the appeal filed by the assessee is hereby allowed

Bench: Shri Ramit Kochar (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

249 (Guj.) and CIT Vs. Nangalia Fabrics Pvt. Ltd. 40 Taxmann.com 206 (Guj.) and various other decisions. The Hon’ble jurisdictional High Court held that when purchases were supported by bills, entries made in books of I.T.A Nos. 60 & 61/Ahd/2024 A.Y. 2017-18 & 2018-19 Page No 10 Patel Kenwood Pvt. Ltd. vs. ITO account and payments made by cheque

PATEL KENWOOD PRIVATE LIMITED,ANKLESHWAR vs. INCOME TAX OFFICER, VADODARA

In the result, the appeal filed by the assessee is hereby allowed

Bench: Shri Ramit Kochar (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

249 (Guj.) and CIT Vs. Nangalia Fabrics Pvt. Ltd. 40 Taxmann.com 206 (Guj.) and various other decisions. The Hon’ble jurisdictional High Court held that when purchases were supported by bills, entries made in books of I.T.A Nos. 60 & 61/Ahd/2024 A.Y. 2017-18 & 2018-19 Page No 10 Patel Kenwood Pvt. Ltd. vs. ITO account and payments made by cheque

JT. CIT (OSD), CIRCLE-3(1)(1),, AHMEDABAD vs. M/S. PRADIP OVERSEAS LTD., AHMEDABAD

In the result, the appeal of the revenue is dismissed

249/- and finally the second party sold such goods to the appellant company (POL) at Rs. 3,32,72,933/-. In these transactions the purchases value of goods increased by Rs. 93,5187- (sale by POL Rs. 3.31,79,415/- less purchases by POL Rs. 3,32,72,933/-), which is 0.28% of circular purchases by the appellant

THE ACIT,(OSD)RANGE-1,, AHMEDABAD vs. CORRTECH INTERNATIONAL PVT.LTD.,, AHMEDABAD

In the result, appeal of the Revenue is partly allowed and appeal of the assessee is partly allowed for statistical purposes

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

bogus purchases to the tune of Rs.42,48,117/- (i.e. 25%) out of total purchases of Rs.1,69,92,471/-. 5. The Ld. CIT(A) has erred, both in law and on facts of the case, in confirming disallowance of Rs.14,62,818/- being irrecoverable deposits written off in books of account in respect of Earnest Money Deposit, Advance

CORRTECH INTERNATIONAL PVT.LTD.,,AHMEDABAD vs. THE DY.CIT.,(OSD)RANGE-1,, AHMEDABAD

In the result, appeal of the Revenue is partly allowed and appeal of the assessee is partly allowed for statistical purposes

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

bogus purchases to the tune of Rs.42,48,117/- (i.e. 25%) out of total purchases of Rs.1,69,92,471/-. 5. The Ld. CIT(A) has erred, both in law and on facts of the case, in confirming disallowance of Rs.14,62,818/- being irrecoverable deposits written off in books of account in respect of Earnest Money Deposit, Advance

ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), AHMEDABAD vs. REKHA INDRAVADAN CHOKSHI, AHMEDABAD

In the result, the Department’s appeal is dismissed

Bench: Smt. Annapurna Gupta (Accountant Member), Shri Siddhartha Nautiyal (Judicial Member)

249% increase. Further, the assessing officer observed that the assessee had nominal cash sales of Rs.7,46,179/- from 01.04.2016 to 30.09.2016 and the cash sales which was made during the period 22.10.2016 to 08.11.2016 reached an unimaginable amount of Rs.31,28,37,385/- (against cash sales of Rs.3,11,82,382/- for the same period in the immediately preceding

REKHABEN INDRAVADAN CHOKSHI,AHMEDABAD vs. INCOME TAX OFFICER,WARD-5(2)(4), AHMEDABAD

In the result, the Department’s appeal is dismissed

Bench: Smt. Annapurna Gupta (Accountant Member), Shri Siddhartha Nautiyal (Judicial Member)

249% increase. Further, the assessing officer observed that the assessee had nominal cash sales of Rs.7,46,179/- from 01.04.2016 to 30.09.2016 and the cash sales which was made during the period 22.10.2016 to 08.11.2016 reached an unimaginable amount of Rs.31,28,37,385/- (against cash sales of Rs.3,11,82,382/- for the same period in the immediately preceding

AMBAR RESOURCES PRIVATE LIMITED,AHMEDABAD vs. THE ITO, WARD-1(1)(1), AHMEDABAD

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

purchases of ₹4,82,10,278/- from M/s S.K. Enterprise were bogus. After rejecting the assessee’s submissions as unproven, the Assessing Officer invoked section 69C of the Act and made addition of ₹4,82,10,278/-, and determining total income at ₹4,87,48,540/-. 4. The assessee filed an appeal before the CIT(Appeals) raising several grounds

SHRI DIPAKKUMAR KESHAVLAL PATEL,,GANDHINAGAR vs. THE INCOME TAX OFFICER, WARD-1,, GANDHINAGAR

In the result, assessee’s appeal is thus allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

bogus purchase because payment of purchase was fulfilled next year. During the course of the assessment proceedings the document submitted was fully accepted by the income tax officer and no aby defects found in those documents. It is decided in the following cases that assessee offered an income to be tax in this circumstances no penalty is leviable

THE ADDL.CIT, RANGE-1, BARODA vs. GUJARAT FLUOROCHEMEICALS LTD, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

249, requirements of Schedule VI as well as the provisions of AS-13 on investment. The assessee has maintained only one portfolio. It is further pleaded that during the year there was speculative loss of Rs.0.67 lakhs and Rs.1.08 lakhs for the Asstt.year 2005-06 and 2008-09 respectively. Such small amount involving only six transactions should not be determining

GUJARAT FLUOROCHEMEICALS LTD,,BARODA vs. THE DY.CIT.,CIRCLE-1(1)(1),, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

249, requirements of Schedule VI as well as the provisions of AS-13 on investment. The assessee has maintained only one portfolio. It is further pleaded that during the year there was speculative loss of Rs.0.67 lakhs and Rs.1.08 lakhs for the Asstt.year 2005-06 and 2008-09 respectively. Such small amount involving only six transactions should not be determining

GUJARAT FLUROCHEMICALS LIMITED,,BARODA vs. THE DY.CIT, CIRCLE-1(1),, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

249, requirements of Schedule VI as well as the provisions of AS-13 on investment. The assessee has maintained only one portfolio. It is further pleaded that during the year there was speculative loss of Rs.0.67 lakhs and Rs.1.08 lakhs for the Asstt.year 2005-06 and 2008-09 respectively. Such small amount involving only six transactions should not be determining

THA ADDL. CIT, RANGE-1,, BARODA vs. M/S. GUJARAT FLUROCHEMICALS LIMITED.,, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

249, requirements of Schedule VI as well as the provisions of AS-13 on investment. The assessee has maintained only one portfolio. It is further pleaded that during the year there was speculative loss of Rs.0.67 lakhs and Rs.1.08 lakhs for the Asstt.year 2005-06 and 2008-09 respectively. Such small amount involving only six transactions should not be determining

GUJARAT FLUROCHEMICALS LTD.,,BARODA vs. THE DY.CIT.,CIRCLE-1(1),, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

249, requirements of Schedule VI as well as the provisions of AS-13 on investment. The assessee has maintained only one portfolio. It is further pleaded that during the year there was speculative loss of Rs.0.67 lakhs and Rs.1.08 lakhs for the Asstt.year 2005-06 and 2008-09 respectively. Such small amount involving only six transactions should not be determining

THE DCIT, CIRCLE-1(1),, BARODA vs. GUJARAT FLUROCHEMICALS LTD.,, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

249, requirements of Schedule VI as well as the provisions of AS-13 on investment. The assessee has maintained only one portfolio. It is further pleaded that during the year there was speculative loss of Rs.0.67 lakhs and Rs.1.08 lakhs for the Asstt.year 2005-06 and 2008-09 respectively. Such small amount involving only six transactions should not be determining

GUJARAT FLUROCHEMICALS LIMITED,,BARODA vs. THE ADDL. CIT, RANGE-1,, BARODA

Appeals of the Revenue are dismissed, whereas appeals of the assessee are partly allowed for statistical purpose

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediasr. No.

249, requirements of Schedule VI as well as the provisions of AS-13 on investment. The assessee has maintained only one portfolio. It is further pleaded that during the year there was speculative loss of Rs.0.67 lakhs and Rs.1.08 lakhs for the Asstt.year 2005-06 and 2008-09 respectively. Such small amount involving only six transactions should not be determining

THE DCIT, CENTRAL CIRCLE-1(1),, AHMEDABAD vs. SHRI UMANG H. THAKKAR, AHMEDABAD

In the result, the appeal filed by the assessee bearing ITA No

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarआयकर अपील सं / Ita No. 2150/Ahd/2008 िनधा"रण वष"/Assessment Year: 2005-06 बनाम Shri Umang Hiralal Thakkar, The Dy. Commissioner Of Vs. Dharmadev House, Income-Tax, Shyamal Cross Road, Satellite, Central Circle 1(1), Ahmedabad – 380015 Ahmedabad Pan : Aavpt 8621 R आयकर अपील सं / Ita No. 2548/Ahd/2008 िनधा"रणवष"/Assessment Year: 2005-06 बनाम Shri Umang Hiralal Thakkar, The Dy. Commissioner Of Vs. 305, Sahajanand Plaza, Bhatta Income-Tax, Ch Ar Rasta, Paldi, Ahmedabad Central Circle 1(1), Pan : Aavpt 8621 R Ahmedabad अपीलाथ"/ (Appellant) अपीलाथ" "" यथ" "" यथ"/ (Respondent) अपीलाथ" अपीलाथ" "" "" यथ" यथ" िनधा"रती की ओर से / Assessee By : Shri Bandish Soparkar, Ar & Shri Parin Shah, Ar ""थ" की ओर से / Revenue By : Shri Akhilendra Pratap Yadav, Cit-Dr तारीख/Date Of Hearing : 09.05.2024 सुनवाई क" क" तारीख सुनवाई सुनवाई सुनवाई क" क" तारीख तारीख घोषणा क" क" तारीख तारीख /Date Of Pronouncement: 30.07.2024 घोषणा घोषणा घोषणा क" क" तारीख तारीख आदेश आदेश/O R D E R आदेश आदेश

section 68 of the Act on this count.” 6.4 As is evident from the above, the ITAT noted that the Assessing Officer had made addition in the absence of any evidence filed by the assessee. The ld. CIT(A) had admitted the additional evidences filed by the assessee in this regard, and after appreciating the same and seeking a report

SHRI UMANG HIRALAL THAKKAR,AHMEDABAD vs. THE DY.CIT.,CENT.CIRCLE-1(1),, AHMEDABAD

In the result, the appeal filed by the assessee bearing ITA No

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarआयकर अपील सं / Ita No. 2150/Ahd/2008 िनधा"रण वष"/Assessment Year: 2005-06 बनाम Shri Umang Hiralal Thakkar, The Dy. Commissioner Of Vs. Dharmadev House, Income-Tax, Shyamal Cross Road, Satellite, Central Circle 1(1), Ahmedabad – 380015 Ahmedabad Pan : Aavpt 8621 R आयकर अपील सं / Ita No. 2548/Ahd/2008 िनधा"रणवष"/Assessment Year: 2005-06 बनाम Shri Umang Hiralal Thakkar, The Dy. Commissioner Of Vs. 305, Sahajanand Plaza, Bhatta Income-Tax, Ch Ar Rasta, Paldi, Ahmedabad Central Circle 1(1), Pan : Aavpt 8621 R Ahmedabad अपीलाथ"/ (Appellant) अपीलाथ" "" यथ" "" यथ"/ (Respondent) अपीलाथ" अपीलाथ" "" "" यथ" यथ" िनधा"रती की ओर से / Assessee By : Shri Bandish Soparkar, Ar & Shri Parin Shah, Ar ""थ" की ओर से / Revenue By : Shri Akhilendra Pratap Yadav, Cit-Dr तारीख/Date Of Hearing : 09.05.2024 सुनवाई क" क" तारीख सुनवाई सुनवाई सुनवाई क" क" तारीख तारीख घोषणा क" क" तारीख तारीख /Date Of Pronouncement: 30.07.2024 घोषणा घोषणा घोषणा क" क" तारीख तारीख आदेश आदेश/O R D E R आदेश आदेश

section 68 of the Act on this count.” 6.4 As is evident from the above, the ITAT noted that the Assessing Officer had made addition in the absence of any evidence filed by the assessee. The ld. CIT(A) had admitted the additional evidences filed by the assessee in this regard, and after appreciating the same and seeking a report