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.

section 68 of the Act are satisfied i.e. identity and creditworthiness of investors and genuineness of transaction are established. Hence the AO was not justified in treating share capital and share premium of Rs.21,00,44,500/- received from Westwell and Yamini as unexplained cash credit u/s 68 of the Act. Accordingly, addition

THE DCIT, CENTRAL CIIRCLE-1(2), AHMEDABAD vs. SHRENA S SUTARIA, AHMEDABAD

In the result appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No. 796/Ahd/2019 With C.O.No.172/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2010-2011 D.C.I.T., Shrena S. Sutaria, Central Circle-1(2), Vs. 8, Amrashagun Bunglows, Ahmedabad. Nr. Hathisingh Park, Satellite, Ahmedabad-380015. Pan: Asqps7606E

section 68 of the Act in the hands of the assessee. With C.O.No.172/Ahd/2019 Asstt. Year 2010-11 4 3.2 Based on the above, the AO analyzed the bank statements for the period beginning from 1 April 2008 to 31 March 2015 of different persons whose names were appearing in such excel sheet

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

section 68 of the Act in the hands of the assessee. 4.1 Based on the above, the AO analyzed the bank statements for the period beginning from 1 April 2008 to 31 March 2015 of different persons whose names were appearing in such excel sheet. As per the AO, all the names of the persons appearing on the excel

DCIT, CENTRAL CIRCLE-(1)(2), AHMEDABAD vs. SHREYASI DHARMEN SUTARIA, AHMEDABAD

In the result appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No. 797/Ahd/2019 With C.O.No.173/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2010-2011 D.C.I.T., Shreyasi Dharmen Sutaria, Central Circle-1(2), Vs. 16-B, Jadav Chamber, Ahmedabad. Ashram Road, Ahmedabad-380009. 2Nd Address: 8, Amrashagun Bunglows, Nr. Hathisingh Park, Satellite, Ahmedabad-380015. Pan: Awops1881R

section 68 of the Act in the hands of the assessee. 3.2 Based on the above, the AO analyzed the bank statements for the period beginning from 1 April 2008 to 31 March 2015 of different persons whose names were appearing in such excel sheet. As per the AO, all the names of the persons appearing on the excel

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 68 of the Act in the hands of the assessee. With C.O.No.169/Ahd/2019 Asstt. Year 2010-11 4 4.1 Based on the above, the AO analyzed the bank statements for the period beginning from 1 April 2008 to 31 March 2015 of different persons whose names were appearing in such excel sheet

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

68. Further, the Hon'ble Delhi ITAT on similar lines in case of Ashwini Kumar v. ITO [1991] 39 ITD 183 held that in the case of dumb document, revenue should collect necessary evidence to prove that the figures represent incomes earned by the assessee. 69. In view of the above and after considering the facts in totality

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

68. Further, the Hon'ble Delhi ITAT on similar lines in case of Ashwini Kumar v. ITO [1991] 39 ITD 183 held that in the case of dumb document, revenue should collect necessary evidence to prove that the figures represent incomes earned by the assessee. 69. In view of the above and after considering the facts in totality

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

68. Further, the Hon'ble Delhi ITAT on similar lines in case of Ashwini Kumar v. ITO [1991] 39 ITD 183 held that in the case of dumb document, revenue should collect necessary evidence to prove that the figures represent incomes earned by the assessee. 69. In view of the above and after considering the facts in totality

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

68. Further, the Hon'ble Delhi ITAT on similar lines in case of Ashwini Kumar v. ITO [1991] 39 ITD 183 held that in the case of dumb document, revenue should collect necessary evidence to prove that the figures represent incomes earned by the assessee. 69. In view of the above and after considering the facts in totality

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)

68 of the Act, is directed to be deleted. The second ground of appeal of the assessee relates to claim of depreciation of Rs. 18,92,228/- on capital assets: 12. The brief facts of the case are that the assessee claimed depreciation of Rs. 18,92,228/- on capital assets purchased from J S Enterprise for the assessment year

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

In the result, the appeal of the assessee is allowed

74,63,173/-. During the course of appellate proceedings, the assessee has also placed reliance on the decision of following judicial pronouncements M/s. Fashion World Vs. ACIT Vide ITA 1634/Ahd/2016 dated 12.02.2010 , DCIT vs. M/s. Shah Khodi Das vide ITA No. 531/Ahd/2008 dated 25.03.2011 and CIT-II vs. Shilpa Dyeing & Printing Mills P. Ltd. vide Tax Appeal

JHAVERI TRADING AND INVESTMENT PVT.LTD.,AHMEDABAD vs. THE DCIT, CENT. CIR. 1(1), AHMEDABAD

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

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकर अपील सं./Ita Nos. 401 To 403/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2012-2013 To 2014-2015) & आयकर अपील सं./Ita Nos. 399 & 400/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2010-2011 & 2011-12)

68 of the Act amounting to ₹ 2,84,90,000.00 34. At the outset, we note that the issue raised by the assessee in its ground of appeal for the AY 2013-14 is identical to the issue raised by the assessee in ITA No. 401/AHD/2023 for the assessment year 2012-13 except the change in the amount

JHAVERI TRADING AND INVESTMENT PVT.LTD.,AHMEDABAD vs. THE DCIT, CENT. CIR. 1(1), AHMEDABAD

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

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकर अपील सं./Ita Nos. 401 To 403/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2012-2013 To 2014-2015) & आयकर अपील सं./Ita Nos. 399 & 400/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2010-2011 & 2011-12)

68 of the Act amounting to ₹ 2,84,90,000.00 34. At the outset, we note that the issue raised by the assessee in its ground of appeal for the AY 2013-14 is identical to the issue raised by the assessee in ITA No. 401/AHD/2023 for the assessment year 2012-13 except the change in the amount

JHAVERI TRADING AND INVESTMENT PVT.LTD.,AHMEDABAD vs. THE DCIT, CENT. CIR. 1(1), AHMEDABAD

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

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकर अपील सं./Ita Nos. 401 To 403/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2012-2013 To 2014-2015) & आयकर अपील सं./Ita Nos. 399 & 400/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2010-2011 & 2011-12)

68 of the Act amounting to ₹ 2,84,90,000.00 34. At the outset, we note that the issue raised by the assessee in its ground of appeal for the AY 2013-14 is identical to the issue raised by the assessee in ITA No. 401/AHD/2023 for the assessment year 2012-13 except the change in the amount

JHAVERI TRADING AND INVESTMENT PVT.LTD.,AHMEDABAD vs. THE DCIT, CENT. CIR. 1(1), AHMEDABAD

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

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकर अपील सं./Ita Nos. 401 To 403/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2012-2013 To 2014-2015) & आयकर अपील सं./Ita Nos. 399 & 400/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2010-2011 & 2011-12)

68 of the Act amounting to ₹ 2,84,90,000.00 34. At the outset, we note that the issue raised by the assessee in its ground of appeal for the AY 2013-14 is identical to the issue raised by the assessee in ITA No. 401/AHD/2023 for the assessment year 2012-13 except the change in the amount

JHAVERI TRADING AND INVESTMENT PVT.LTD.,AHMEDABAD vs. THE DCIT, CENT. CIR. 1(1), AHMEDABAD

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

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकर अपील सं./Ita Nos. 401 To 403/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2012-2013 To 2014-2015) & आयकर अपील सं./Ita Nos. 399 & 400/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2010-2011 & 2011-12)

68 of the Act amounting to ₹ 2,84,90,000.00 34. At the outset, we note that the issue raised by the assessee in its ground of appeal for the AY 2013-14 is identical to the issue raised by the assessee in ITA No. 401/AHD/2023 for the assessment year 2012-13 except the change in the amount

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

74,100/- after making addition on account of unexplained cash credit and interest free loan and advances. 4.2. Thereafter, there was a search conducted at the premise of the assessee by the Central Excise Department dated 18 May 1998. As per the search report of the central excise department, it was revealed that the assessee along with some other persons/organizations

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

74,100/- after making addition on account of unexplained cash credit and interest free loan and advances. 4.2. Thereafter, there was a search conducted at the premise of the assessee by the Central Excise Department dated 18 May 1998. As per the search report of the central excise department, it was revealed that the assessee along with some other persons/organizations