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

42 taxmann.com 251 wherein it was held as under: “Head Note: Section 68, read with section 143, of the Income

JAS INFRASPACE PVT. LTD.,AHMEDABAD vs. DCIT, CIRCLE-2(2)(1),, AHMEDABAD

In the result, appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 68 of the Act to offer an explanation based on the documentary evidence about the nature and source of such cash credit entries. As such the assessee, has to justify the identity, creditworthiness of the parties and genuineness of the transactions. 42

THE ACIT, CIRCLE-2(1)(2),, AHMEDABAD vs. JAS INFRA SPACE PRIVATE LTD.,, AHMEDABAD

In the result, appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 68 of the Act to offer an explanation based on the documentary evidence about the nature and source of such cash credit entries. As such the assessee, has to justify the identity, creditworthiness of the parties and genuineness of the transactions. 42

THE ACIT, CIRCLE-2(1)(2),, AHMEDABAD vs. JAS INFRA SPACE PRIVATE LTD.,, AHMEDABAD

In the result, appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 68 of the Act to offer an explanation based on the documentary evidence about the nature and source of such cash credit entries. As such the assessee, has to justify the identity, creditworthiness of the parties and genuineness of the transactions. 42

THE ACIT, CIRCLE-2(1)(2),, AHMEDABAD vs. JAS INFRASPACE PRIVATE LIMITED,, AHMEDABAD

In the result, appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 68 of the Act to offer an explanation based on the documentary evidence about the nature and source of such cash credit entries. As such the assessee, has to justify the identity, creditworthiness of the parties and genuineness of the transactions. 42

THE DCIT, CENTRAL CIRCLE-1(2), AHMEDABAD vs. M/S. STHAPATYA SHILP CONSTRUCTION, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No. 907/Ahd/2019 With C.O.No.170/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2010-2011 D.C.I.T., M/S. Sthapatya Shilp Construction, Central Circle-1(2), Vs. 2, Abhiraj Complex, Ahmedabad. 68-B, Swastic Society, Ahmedabad. Pan: Abffs2922P

section 68 of the Act. 24. The learned CIT(A) after considering the submission of the assessee deleted the addition made by the AO by observing as under: The AO in Para 8.1.1 of the assessment order observed that the appellant has not submitted all the details in support of its claim. Thereafter in para

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 ...

42,700/-. The case was reopened under section\n147 of the Act on the basis of information received in the case of\nShri Chimanbhai Kalubhai Patel [PAN: ACTPP0989L], wherein it\nwas revealed that the assessee had allegedly advanced an\nunsecured loan of Rs.9,80,75,000/- during the financial year\n2012–13, which was not reflected in the books

DEPUTY COMMISSIONER OF INCOME -TAX CENTRAL CIRCLE-1(1), AHMEDABAD, AHMEDABAD, GUJARAT vs. BHAVESHKUMAR GIRISHBHAI BHANDARI, AHMEDABAD, GUJARAT

Appeal is allowed in ITA 978/Ahd/2025 and ITA\n978/Ahd/2025 as well

42,214/- under section 68 of the Act for unexplained cash credits and\nan addition of Rs. 21,36,579/- for disallowance

DCIT, CENTRAL CIRCLE-1(2), AHMEDABAD vs. DHARMENBHAI MAHENDRABHAI SUTARIA -HUF, AHMEDABAD

In the result appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No. 795/Ahd/2019 With C.O.No.169/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2010-2011 D.C.I.T., Dharmenbhai M. Sutaria, Huf Central Circle-1(2), Vs. 16-B, Jadav Chamber, Ahmedabad. Ashram Road, Ahmedabad-380009. Pan: Aafhd1653K

section 148 for the concerned assessment year 2010-11 so as to say that the case of the Respondent cannot be reopened on the strength of subject matter of reasons recorded by the Ld. AO as the reasons are based out of seized material so impounded from the premises of Barter Group relevant to A.Y. 2011-12 and thus

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

Bench: Shri Sanjay Garg & Makarand V. Mahadeokar

42,940/- Income in Rs. 4. The assessee carried the matter in appeals before the CIT(A), challenging both the validity of the reopening of assessments under section 147 and the additions made under sections 68

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

Bench: Shri Sanjay Garg & Makarand V. Mahadeokar

42,940/- Income in Rs. 4. The assessee carried the matter in appeals before the CIT(A), challenging both the validity of the reopening of assessments under section 147 and the additions made under sections 68

M/S. FLOURISH PUREFOODS PVT.LTD.,,AHMEDABAD vs. THE DCIT.,CENT.CIRCLE-2(1),, AHMEDABAD

In the result, this ground of appeal of the assessee is allowed

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyali.T(Ss).A. No.518/Ahd/2019 (Assessment Year: 2015-16) Flourish Purefoods Pvt. Ltd., Vs. Deputy Commissioner Of Income 11-12, Ecs House, Garden View, Tax, Nr. Global Hospital, Bodakdev, Central Circle-2(1), Ahmedabad-380054 Ahmedabad [Pan No.Aadcv2683B] (Appellant) .. (Respondent)

section 68 of the I.T. Sunderdeep Construction Pvt. Ltd Act does not come into play. No material was brought by the Ld. A.O to prove that the money was the assessee's own undisclosed income" (emphasis supplied). 16. As regards the judgment of Hon'ble Apex Court in the case of NRA Iron & Steel Pvt. Ltd (supra) relied

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.

42 taxmann.com 251 has rightly deleted the addition made by the AO under section 68 of the I.T. Act, 1961 of Rs.10

THE ASST. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1),, AHMEDABAD vs. EL DORADO BIOTECH PRIVATE LIMITED,, AHMEDABAD

In the result, the appeal filed by the Revenue is dismissed

68 of the Act for the reasons that the AO has not provided sufficient opportunity to the assessee which has been discussed in detail in the preceding paragraph. Moreover, there can be change in the facts and circumstances 17 AY: 2009-10 in the year when the company has issued shares at premium viz a viz the year in which

SHRI NARENDRA B. PATEL,,SABARKANTHA vs. THE INCOME TAX OFFICER, WARD-2,, HIMATNAGAR

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

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No. 3153/Ahd/2014 िनधा"रण वष"/Asstt. Year: 2011-12 Narendra B. Patel, I.T.O., 592, Pampaliva Vas, Vs. Ward-2, Moyad, Himatnagar. Sabarkantha-383110. Pan: Asupp6989M

section 68 of the Act and added the same to the total income of the assessee. Property at Ta Dhanduka survey no. 143 12.7 The AO during the assessment proceedings observed on the basis of AIR information that the assessee has purchased a property at Dhanduka at 8.75 lacs and incurred stamp duty charges at Rs. 42

RICH PAINTS LIMITED,,BARODA vs. THE INCOME TAX OFFICER,WARD-4(2),, BARODA

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedsl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 186/Ahd/2015 1995-96 M/S. Rich Paints Ltd. Ito-4(2), C/O Smt. Bhartiben M. Shah, Baroda 60 Sundaram Nagar, Near Jakat Naka, Vasna Road, Vadodara (Guj.)-390007 Pan No. Aaacr8988H 2. 187/Ahd/2015 1996-97 M/S. Rich Paints Ltd. Ito-4(2), C/O Smt. Bhartiben M. Shah, Baroda 60 Sundaram Nagar, Near Jakat Naka, Vasna Road, Vadodara (Guj.)-390007 Pan No. Aaacr8988H 3. 188/Ahd/2015 1997-98 M/S. Rich Paints Ltd. Ito-4(2), C/O Smt. Bhartiben M. Shah, Baroda 60 Sundaram Nagar, Near Jakat Naka, Vasna Road, Vadodara (Guj.)-390007 Pan No. Aaacr8988H

Section 68 of the Act. However, to our understanding such legal fiction can be applied in the case of actual transactions incorporated in the books and not be applied on the transactions which are merely book entries and representing the fake transactions, having no substance. 32. Moving forward, admittedly it is the set-aside proceedings before us. The ITAT

RICH PAINTS LIMITED,,BARODA vs. THE INCOME TAX OFFICER,WARD-4(2),, BARODA

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedsl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 186/Ahd/2015 1995-96 M/S. Rich Paints Ltd. Ito-4(2), C/O Smt. Bhartiben M. Shah, Baroda 60 Sundaram Nagar, Near Jakat Naka, Vasna Road, Vadodara (Guj.)-390007 Pan No. Aaacr8988H 2. 187/Ahd/2015 1996-97 M/S. Rich Paints Ltd. Ito-4(2), C/O Smt. Bhartiben M. Shah, Baroda 60 Sundaram Nagar, Near Jakat Naka, Vasna Road, Vadodara (Guj.)-390007 Pan No. Aaacr8988H 3. 188/Ahd/2015 1997-98 M/S. Rich Paints Ltd. Ito-4(2), C/O Smt. Bhartiben M. Shah, Baroda 60 Sundaram Nagar, Near Jakat Naka, Vasna Road, Vadodara (Guj.)-390007 Pan No. Aaacr8988H

Section 68 of the Act. However, to our understanding such legal fiction can be applied in the case of actual transactions incorporated in the books and not be applied on the transactions which are merely book entries and representing the fake transactions, having no substance. 32. Moving forward, admittedly it is the set-aside proceedings before us. The ITAT

RICH PAINTS LIMITED,,BARODA vs. THE INCOME TAX OFFICER,WARD-4(2),, BARODA

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedsl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 186/Ahd/2015 1995-96 M/S. Rich Paints Ltd. Ito-4(2), C/O Smt. Bhartiben M. Shah, Baroda 60 Sundaram Nagar, Near Jakat Naka, Vasna Road, Vadodara (Guj.)-390007 Pan No. Aaacr8988H 2. 187/Ahd/2015 1996-97 M/S. Rich Paints Ltd. Ito-4(2), C/O Smt. Bhartiben M. Shah, Baroda 60 Sundaram Nagar, Near Jakat Naka, Vasna Road, Vadodara (Guj.)-390007 Pan No. Aaacr8988H 3. 188/Ahd/2015 1997-98 M/S. Rich Paints Ltd. Ito-4(2), C/O Smt. Bhartiben M. Shah, Baroda 60 Sundaram Nagar, Near Jakat Naka, Vasna Road, Vadodara (Guj.)-390007 Pan No. Aaacr8988H

Section 68 of the Act. However, to our understanding such legal fiction can be applied in the case of actual transactions incorporated in the books and not be applied on the transactions which are merely book entries and representing the fake transactions, having no substance. 32. Moving forward, admittedly it is the set-aside proceedings before us. The ITAT