DHARAMTAR MOTORS SERVICES PETROLEUM PRODUCT,,AHMEDABAD vs. THE ITO, WARD-6(1)(4),, AHMEDABAD

In the results, both the appeals of the assessee are allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita Nos. 1438 & 2534/Ahd/2017 "नधा"रण वष"/Asstt. Year: 2012-2013 M/S Dharamtar Motor Services Income Tax Officer, Petroleum Product, Vs. Ward 6(1)(4) C/O. Ketan H. Shah, Advocate 903, Ahmedabad. Sapphire Complex, C.G. Road, Navrangpura, Ahmedabad. Pan: Aabfd9182F

Section 68. The detailed chart is as per PB Page No.92 also regarding crediting Chandrakant N. Shah and the major amount is in reference to MAC Laboratories, Rs.1,64

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 I. T. Act, 1961 in respect of following persons on the ground that appellant failed to produce above persons, and therefore, identity, genuineness and creditworthiness have not been proved. Hannah Enterprises Pvt. Ltd. Rs. 14,14,291/- Boaston Tradelinks Pvt. Ltd. Rs. 2,87,50,414/- Biraj Manimpex Pvt. Ltd. Rs. 2,64

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 I. T. Act, 1961 in respect of following persons on the ground that appellant failed to produce above persons, and therefore, identity, genuineness and creditworthiness have not been proved. Hannah Enterprises Pvt. Ltd. Rs. 14,14,291/- Boaston Tradelinks Pvt. Ltd. Rs. 2,87,50,414/- Biraj Manimpex Pvt. Ltd. Rs. 2,64

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 I. T. Act, 1961 in respect of following persons on the ground that appellant failed to produce above persons, and therefore, identity, genuineness and creditworthiness have not been proved. Hannah Enterprises Pvt. Ltd. Rs. 14,14,291/- Boaston Tradelinks Pvt. Ltd. Rs. 2,87,50,414/- Biraj Manimpex Pvt. Ltd. Rs. 2,64

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 I. T. Act, 1961 in respect of following persons on the ground that appellant failed to produce above persons, and therefore, identity, genuineness and creditworthiness have not been proved. Hannah Enterprises Pvt. Ltd. Rs. 14,14,291/- Boaston Tradelinks Pvt. Ltd. Rs. 2,87,50,414/- Biraj Manimpex Pvt. Ltd. Rs. 2,64

M/S. ARIHANT JEWELS,AHMEDABAD vs. THE ITO, WARD-5(3)(3), AHMEDABAD

In the result, the appeal of the assessee is allowed

64,306/- 39,950/- 3,24,354 Stock 1,78,92,962/- 18,26,797/- 1,60,66,165/- Total 1,75,28,656/- 17,86,847/- 1,57,41,811/- I.T.A No. 2341/Ahd/2018 A.Y. 2015-16 Page No 3 M/s. Arihant Jewels vs. ITO During the course of survey, assessee has also disclosed income of Rs. 50 lacs. During

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

68 of the Act by observing that the assessee failed to explain the source of money in the hands of the party who has made the payment on behalf of the assessee for making the investments. However, the learned CIT-A has confirmed the addition under the provisions of section 69 of the Act considering the impugned investments

ANKIT VIJAYKUMAR JAIN,AHMEDABAD vs. THE DY.CIT, CIRCLE-3(2), AHMEDABAD

In the result, both the appeals of the Revenue are dismissed

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

section 68 of the Act is wrongly invoked in respect of cash deposits which are part of recorded business receipts, especially when books of account are accepted. Similar views have been expressed in CIT v. Vishal Exports Overseas Ltd. (Tax Appeal No. 2471 of 2009, Gujarat High Court), Smt. Sarika Jain v. CIT (2017) 84 taxmann.com 64

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

68 of the Act by furnishing the necessary details about the source of share capital and premium received from above mentioned 5 investor companies. 13. Coming to the companies namely M/s. Pearl Tracom Pvt. Ltd., M/s 13.1 With respect to above 3 companies the DDIT in commission report under section 131(1)(d) has submitted that one company namely

DEPUTY COMMISSIONER OF INCOME -TAX CENTRAL CIRCLE-1(1), AHMEDABAD, AHMEDABAD, GUJARAT vs. GIRISHKUMAR AMRATLAL BHANDARI HUF, HIMATNAGAR, GUJARAT

In the result, the appeal of the Department is allowed and the order of\nthe Assessing Officer is restored

section 68 were accordingly upheld.\n10. The principle laid down by the Hon'ble Supreme Court in Sumati\nDayal v. CIT [1995] 214 ITR 801 (SC) that transactions must be tested on the\ntouchstone of human probability and surrounding circumstances rather than\non mere paper documentation, squarely applies to the present case. The\nCIT(Appeals) erred in deleting

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

In the result, the appeal of the Department is allowed and the order of\nthe Assessing Officer is restored

section 68 were accordingly upheld.\n10.\nThe principle laid down by the Hon'ble Supreme Court in Sumati\nDayal v. CIT [1995] 214 ITR 801 (SC) that transactions must be tested on the\ntouchstone of human probability and surrounding circumstances rather than\non mere paper documentation, squarely applies to the present case. The\nCIT(Appeals) erred in deleting

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

section 68 of the Act. The assessee has claimed to have made sales to 6 parties amounting to Rs. 4,11,36,522/- which are reproduced as under: (i) M.K. Textiles Rs.29,04,991/- (ii) Hardik Textiles Rs.1,98,91,748/- (iii) Lata Textiles Rs.19,96,635/- (iv) Shaka Fabrics Nil (v) Ravi Textiles Rs.1

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

section 68 of the Act. The assessee has claimed to have made sales to 6 parties amounting to Rs. 4,11,36,522/- which are reproduced as under: (i) M.K. Textiles Rs.29,04,991/- (ii) Hardik Textiles Rs.1,98,91,748/- (iii) Lata Textiles Rs.19,96,635/- (iv) Shaka Fabrics Nil (v) Ravi Textiles Rs.1

DCIT, CENTRAL CIRCLE-2, VADODARA vs. NEOTECH EDUCATION FOUNDATION, VADODARA

68 of the Act are applicable with respect to the transactions recorded in the books of accounts. As regards the expenses in the given facts and circumstances, the provisions of section 69C of the Act cannot be applicable as the source of the expenses is emanating from the same seized document. In other words, one of the precondition

SHRI PRAVINCHANDRA R PATEL,VADODARA vs. DCIT, CENTRAL CIRCLE-2, VADODARA

68 of the Act are applicable with respect to the transactions recorded in the books of accounts. As regards the expenses in the given facts and circumstances, the provisions of section 69C of the Act cannot be applicable as the source of the expenses is emanating from the same seized document. In other words, one of the precondition

DCIT, CENTRAL CIRCLE-2, VADODARA vs. NEOTECH EDUCATION FOUNDATION, VADODARA

68 of the Act are applicable with respect to the transactions recorded in the books of accounts. As regards the expenses in the given facts and circumstances, the provisions of section 69C of the Act cannot be applicable as the source of the expenses is emanating from the same seized document. In other words, one of the precondition

PATEL WINES,KHEDA vs. THE DY.CIT, KHEDA CIRCLE, NADIAD

In the result, the appeal of the assessee is dismissed

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

68 read with section 115BBE of the Act. As a result, the appeal of the assessee was dismissed. 8. The assessee is in appeal before us against the order passed by CIT(Appeals) dismissing the appeal of the assessee. Before us, the counsel for the assessee primarily reiterated the arguments taken before Tax Authorities viz. the cash deposits

THE ACIT, CIRCLE-5, AHMEDABAD vs. M/S. RAJESH MALLEABLES LTD.,, AHMEDABAD

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

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

section 68 of the Act and added to the total income of the assessee. Aggrieved assessee preferred an appeal to the learned CIT (A). 3.2. The assessee before the learned CIT (A) submitted that it has received fresh unsecured loan in the year under consideration amounting to Rs. 2,41,28,949/- only. The assessee further filed the details