H K ISPAT PVT. LTD.,PANCHMAHAL vs. THE DY.CIT, CENTRAL CIRCLE-2, VADODARA

In the result, all the appeals filed by the Revenue for AYs 2014–15 to 2021–

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra R. Kamblesn

68, read with section 143, of the Income-tax Act, 1961 Cash credit [Loans] - Assessment year 2006-07-Assessing Officer framed assessment under section 143(3

ZYDUS LIFESCIENCES LIMITED (FORMERLY KNOWN AS CADILA HEALTHCARE LTD.),AHMEDABAD vs. THE DCIT, CIRCLE-1(1)(1), AHMEDABAD

In the result, appeal preferred by the assessee is allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./I.T.A. No. 162/Ahd/2021 ("नधा"रण वष" / Assessment Years : 2016-17)

68 taxmann.com 246 (Bombay); (iii) Zuari Cements Ltd. v. ACIT [Writ Petition No. 5557 of 2012, dated 21-2- 2013] (Andhra Pradesh)- Revenue‟s SLP dismissed by the Hon‟ble Apex Court in CC No. 16694/2013 on 27th September 2013 38. What culminates from the aforesaid two sets of parallel decisions is that the provisions of section 144C

DR K R SHROFF FOUNDATION,AHMEDABAD vs. THE DY. CIT, CIRCLE-1, EXMP, AHMEDABAD

In the result, appeal of the assessee is partly allowed\n\n29

sections": [ "143(3)", "147", "68", "11", "12", "13(1)(c)", "13(3)", "11(1A)", "12AA", "2(15)", "270A" ], "issues

SANDEEP MOHANRAJ SINGHI,AHMEDABAD vs. ACIT, CIRCLE4(2), AHMEDABAD, AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinhaassessment Year: 2018-19

3) of the Act on 06.06.2022 at a total income of Rs.6,15,26,94,300/-. In the course of assessment, the Assessing Officer had made an addition of Rs.538.40 Crores under Section 68

AMBE TRADECORP PVT. LTD.,AHMEDABAD vs. THE PR. CIT (CENTRAL), AHMEDABAD

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

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No.53/Ahd/2021 िनधा"रण वष"/Asstt. Year: 2010-2011 Ambe Tradecorp Private Limited, The P.C.I.T.(Central) Iscon House, Vs. Ahmedabad. B/H. Rembrandt Building, C.G. Road, Ahmedabad.

3) read with section 147 of the Act after making the addition of ₹ 39,05,50,000/- under section 68

ACIT (EXEMPTION) CIRCLE 1 AHMEDABAD, AHMEDABAD vs. DR K R SHROFF FOUNDATION, AHMEDABAD

In the result, appeal of the assessee is partly allowed\n\n29

sections": [ "143(3)", "147", "68", "11", "12", "12AA", "13(1)(c)", "13(3)", "2(15)", "270A" ], "issues": "1. Whether

EAGLE STEEL INDUSTRIES PVT. LTD.,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-2(1)(1),, AHMEDABAD

In the result, appeal filed by the Assessee is allowed

Bench: Shri P. K. Kedia & Shri Mahavir Prasad)

68,187/- being transportation charges paid/credited in the above mentioned account without complying the provisions of section 194C of the Income-tax Act and without complying the provisions of Section 194C(7) of the Act, is disallowed u/s. 40(a)(ia) of the Income-tax Act. 2. Against the order of the ld. A.O., assessee preferred first statutory

THE DCIT.CIRCLE-8,, AHMEDABAD vs. SHREE SANAND TEXTILE INDS.LTD.,, AHMEDABAD

In the result the appeal filed by the assessee is allowed and the appeal filed by the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed1. आयकर अपील सं./Ita No.995/Ahd/2014 With Co No.167/Ahd/2014 (In Ita No.1166/Ahd/2014) ("नधा"रण वष"/Assessment Year : 1995-96) Shree Sanand Textiles The Dy.Cit (Osd) बनाम/ Industries Ltd. Circle-8 Vs. 10-A, Sattar Taluka Society Ahmedabad B/H. C.U. Shah College Navjivan Press Road Ahmedabad "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aamc 8881 G (Appellant & Cross Objector) .. (""यथ" / Respondent) & 2. आयकर अपील सं./Ita No.1166/Ahd/2014 ("नधा"रण वष"/Assessment Year : 1995-96) The Dcit Shree Sanand Textile बनाम/ Circle-8 Industries Ltd., Vs. Ahmedabad Ahmedabad .. (अपीलाथ"/Appellant) (""यथ" / Respondent) Assessee By : Shri Anil R.Shah, Shri Tushar Hemani & Ms.Kinjal Shah, Ars Revenue By : Shri Vidhut Trivedi, Sr.Dr

3,75,39,177/- being 33% of the total sales shown at Rs. 11,37,55,083/- as unexplained cash credit under section 68

SHREE SANAND TEXTILE INDUSTRIES LTD.,,AHMEDABAD vs. THE DY.CIT, (OSD), CIRCLE-8,, AHMEDABAD

In the result the appeal filed by the assessee is allowed and the appeal filed by the revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed1. आयकर अपील सं./Ita No.995/Ahd/2014 With Co No.167/Ahd/2014 (In Ita No.1166/Ahd/2014) ("नधा"रण वष"/Assessment Year : 1995-96) Shree Sanand Textiles The Dy.Cit (Osd) बनाम/ Industries Ltd. Circle-8 Vs. 10-A, Sattar Taluka Society Ahmedabad B/H. C.U. Shah College Navjivan Press Road Ahmedabad "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aamc 8881 G (Appellant & Cross Objector) .. (""यथ" / Respondent) & 2. आयकर अपील सं./Ita No.1166/Ahd/2014 ("नधा"रण वष"/Assessment Year : 1995-96) The Dcit Shree Sanand Textile बनाम/ Circle-8 Industries Ltd., Vs. Ahmedabad Ahmedabad .. (अपीलाथ"/Appellant) (""यथ" / Respondent) Assessee By : Shri Anil R.Shah, Shri Tushar Hemani & Ms.Kinjal Shah, Ars Revenue By : Shri Vidhut Trivedi, Sr.Dr

3,75,39,177/- being 33% of the total sales shown at Rs. 11,37,55,083/- as unexplained cash credit under section 68

ITO WARD-4(1)(4),, AHMEDABAD vs. VALLEY COMTRADE PVT LTD ( EARLIER KNOWN AS JHAWAR COMTRADE PVT. LTD.,), AHMEDABAD

In the result appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Shri Siddharatha Nautiyalआयकर अपील सं./Ita No. 2034/Ahd/2017 िनधा"रण वष"/Asstt. Year:2012-2013 I.T.O, M/S. Valley Comtrade Pvt. Ltd., Ward-4(1)(4), Vs. (Earlier Known As Jhawar Comtrade Ahmedabad. Pvt. Ltd.,) C-205, Titanium Square, Near Parsoli Bmw Showroom, Thaltej Chokdi, Ahmedabad-380054. Pan: Aadcs3553N & आयकर अपील सं./Ita No. 68/Srt/2017 िनधा"रण वष"/Asstt. Year:2012-2013 M/S. Valley Comtrade Pvt. Ltd., I.T.O, (Earlier Known As Jhawar Comtrade Vs. Ward-1(1)(3), Pvt. Ltd.,) Surat. C-205, Titanium Square, Near Parsoli Bmw Showroom, Thaltej Chokdi, Ahmedabad-380054. Pan: Aadcs3553N

3. The only grievance of the assessee is that the learned CIT (A) erred in confirming the order of the AO in part instead of deleting the same in entirety on account of share capital & premium of Rs. 1,95,00,000/- treating the same as unexplained cash credit under section 68

ACIT, CIRCLE-3(2), AHMEDABAD vs. M/S. KRAFT LAMINATE, AHMEDABAD

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

Bench: Shri P.M. Jagtap, Vice- & Shri T.R. Senthil Kumarassessment Years : 2015-16 Assistant Commissioner Of M/S. Kraft Laminate, Income-Tax, Vs C/O. Laxmi Timber, Nr. Circle 3(2), Ahmedabad Mahalaxmi Textile Mill, Opp. Rajbai Patel Timber Market, Narol Naroda Highway, Narol, Ahmedabad-382405 Pan : Aamfk 8120 F अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Revenue By : Shri V.K. Singh, Sr. Dr Assessee By : Shri Manish J. Shah, Advocate सुनवाई क" तार"ख/Date Of Hearing : 24/02/2022 घोषणा क" तार"ख /Date Of Pronouncement: 16/03/2022 आदेश/O R D E R Per P.M. Jagtap, Vice-:

Section 68 of the Income-tax Act, 1961 (“the Act” in short). 3. The assessee, in the present case

THE DCIT-CIRCLE-4(1)(1), AHMEDABAD vs. SHREE SIDDHI INFRABUILD PVT. LTD, AHMEDABAD

Bench: Shri Sanjay Garg & Makarand V. Mahadeokar

68 and Rs. 5,80,00,000/- under section 69A. 3. The summary of year-wise assessments is given

THE DCIT-CIRCLE-4(1)(1), AHMEDABAD vs. SHREE SIDDHI INFRABUILD PVT. LTD, AHMEDABAD

Bench: Shri Sanjay Garg & Makarand V. Mahadeokar

68 and Rs. 5,80,00,000/- under section 69A. 3. The summary of year-wise assessments is given

ARVINDBHAI PUNABHAI PATEL,AHMEDABAD vs. THE ITO, WARD-3(3)(1), AHMEDABAD

Accordingly accepted in principle, and the issue is restored to the\nAssessing Officer for fresh adjudication in terms of directions\nabove.\n25. In the combined result, the appeal of the assessee ...

3 is dismissed.\n15. Ground No. 4 challenges the addition of Rs.16,94,93,035/-\nmade by the Assessing Officer under section 68

SAKET M JAINI(HUF),AHMEDABAD vs. THE PR. CIT, AHMEDABAD-5, AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No. 579/Ahd/2019 "नधा"रण वष"/Asstt. Year: 2009-2010 Saket M. Jain (Huf), The Pr. Commissioner Of 403, 3Rd Eye Two, Vs. Income Tax-2, Nr. Joyalukkas Show Room, Ahmedabad. Opp. Parimal Garden, Ellisbridge, Ahmedabad.

68 of the Act. 7.1 In view of the above the Learned Pr. CIT held the assessment order framed under section 143(3

DCIT, CENTRAL CIRCLE-1(2), AHMEDABAD vs. M/S.DHARMEN MARBLE & STONE, AHMEDABAD

In the result appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No. 794/Ahd/2019 With C.O.No.171/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2010-2011 D.C.I.T., M/S. Dharmen Marble & Stone, Central Circle-1(2), Vs. 16-B, Jadav Chamber, Ahmedabad. Ashram Road, Ahmedabad-380009. Pan: Aabfd5172B

3,81,00,000/- on account of unexplained cash credit under section 68 of the Act. 21. The assessee

THE DCIT, CENTRAL CIRCLE-1(4), AHMEDABAD vs. M/S. GTC OILFIELDS SERVICES P. LTD, AHMEDABAD

In the result, all the 8 appeals filed by the Revenue are dismissed

Bench: Shri P.M. Jagtap, Vice- & Ms. Madhumita Royappeal No. Ay Appellant Respondent Sn M/S. Gtc Oilfields Services P. Ltd., 2009-10 The Dcit, 61, New York Tower, A-Block, It(Ss)A Nos. 1-3 2010-11 Central Circle 1(4), Thaltej Char Rasta, S.G. Road, 314 To 316/Ahd/2019 2014-15 Ahmedabad Ahmedabad-380054 Pan : Aaacg 8684 P The Dcit, M/S. Gtc Oilfields Services P. Ltd.

3. Baghban Marketing P Ltd has paid first installment of tax of Rs.1,15,00,000/-. Therefore, the income declared by Baghban Marketing P Ltd justifies the identity, genuineness and creditworthiness on their part, as per provisions of section 68

THE ITO, WARD-1(1)(3), AHMEDABAD vs. M/S. CAPAXO LOGISTICS PVT. LTD, AHMEDABAD

In the result, the CO filed by the assessee is dismissed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No. 1264/Ahd/2019 With C.O.No.190/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2010-2011 I.T.O., M/S. Capaxo Logistics Pvt. Ltd., Ward-1(1)(3), Vs. 302, Third Floor, Ahmedabad. 3Rd Eye, C.G.Cross Road, Ambawadi, Ahmedabad.

section 68 of the Act. 3. The assessee in the year under consideration has shown share application money amounting