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 of the Income Tax Act. Before the AO the assessee vide submission dated 23.02.2015 (PB Page No.84), has inter alia stated that the aforesaid amount has been carried forward as unsecured loan in the books of the account of the assessee company since AY 2005-06 but since there is change in constitution of the firm partners

THE ACIT, CIRCLE-2(1)(1), AHMEDABAD vs. MAYORA INDIA PRIVATE LIMITED (FORMERLY KNOWN AS , AHMEDABAD

In the result, the appeals of the Department are dismissed

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

68 of Income Tax Act 1961, even when the assessee has failed to prove creditworthiness and genuineness of transaction. 2. Whether on facts and circumstances and in law, the Ld. CIT(A) has erred in deleting the addition of Rs. 14,30,00,000/- made by the AO @ 10% of total expenses, as assesssee could not established the genuineness

THE ACIT, CIRCLE-2(1)(1), AHMEDABAD vs. MAYORA INDIA PRIVATE LIMITED (FORMERLY KNOWN AS "INBISCO INDIA PVT. LTD.), AHMEDABAD

In the result, the appeals of the Department are dismissed

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

68 of Income Tax Act 1961, even when the assessee has failed to prove creditworthiness and genuineness of transaction. 2. Whether on facts and circumstances and in law, the Ld. CIT(A) has erred in deleting the addition of Rs. 14,30,00,000/- made by the AO @ 10% of total expenses, as assesssee could not established the genuineness

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 ...

section 68 of the Act, treating the said\namount as unexplained cash credit on account of large cash\ndeposits made in the following four ICICI Bank accounts held by\nthe assessee:\nSr. No.\nAccount Number\nAmount (Rs.)\n1\n006705000412\n12,99,100/-\n2\n093005001118\n8,22,21,444/-\n3\n093005500510\n1,37,90,550/-\n4\n93005001162\n7,21,81

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. 2,64,81

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. 2,64,81

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. 2,64,81

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. 2,64,81

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

68 cannot be applied in relation to the sales receipt shown by the assessee in its books of accounts. It is because the sales receipt has already been shown in the books of accounts as income at the time of sale only. 9.7. We are also aware of the fact that there is no iota of evidence having any adverse

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

68 cannot be applied in relation to the sales receipt shown by the assessee in its books of accounts. It is because the sales receipt has already been shown in the books of accounts as income at the time of sale only. 9.7. We are also aware of the fact that there is no iota of evidence having any adverse

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

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

section 132 of the Act. 108. The facts of the case are that there was the search and seizure operation under the provisions of section 132 of the Act at the premises of the assessee dated 13th November 2014. Accordingly, the proceedings for the assessment under the provisions of section 153A of the Act were initiated

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

section 132 of the Act. 108. The facts of the case are that there was the search and seizure operation under the provisions of section 132 of the Act at the premises of the assessee dated 13th November 2014. Accordingly, the proceedings for the assessment under the provisions of section 153A of the Act were initiated

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

section 132 of the Act. 108. The facts of the case are that there was the search and seizure operation under the provisions of section 132 of the Act at the premises of the assessee dated 13th November 2014. Accordingly, the proceedings for the assessment under the provisions of section 153A of the Act were initiated

THE ITO, WARD-7(2)(1),, AHMEDABAD vs. M/S. ASIAN AGENCY,, AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Smt. Madhumita Roy

81,224/- being 7% of the unaccounted sales as discussed above and enhancement of income under section 69C of the Act for ₹ 2,09,23,747.00 whereas the Revenue is in appeal against the deletion of the addition made by the AO for ₹ 4,09,82,116/- under section 68

M/S. ASIAN AGENCY,,AHMEDABAD vs. THE DCIT, CIRCEL-7(2),, AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Smt. Madhumita Roy

81,224/- being 7% of the unaccounted sales as discussed above and enhancement of income under section 69C of the Act for ₹ 2,09,23,747.00 whereas the Revenue is in appeal against the deletion of the addition made by the AO for ₹ 4,09,82,116/- under section 68

M/S. ASIAN AGENCY,,AHMEDABAD vs. THE ACIT, CIRCEL-7(2),, AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Smt. Madhumita Roy

81,224/- being 7% of the unaccounted sales as discussed above and enhancement of income under section 69C of the Act for ₹ 2,09,23,747.00 whereas the Revenue is in appeal against the deletion of the addition made by the AO for ₹ 4,09,82,116/- under section 68

M/S. ASIAN AGENCY,,AHMEDABAD vs. THE ACIT, CIRCLE-12,, AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Smt. Madhumita Roy

81,224/- being 7% of the unaccounted sales as discussed above and enhancement of income under section 69C of the Act for ₹ 2,09,23,747.00 whereas the Revenue is in appeal against the deletion of the addition made by the AO for ₹ 4,09,82,116/- under section 68