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

92 taxmann.com 72: "I. Section 68 of the Income-tax Act, 1961 Cash credits (Share application money) - Assessment year

MANISH DEVENDRAKUMAR SHAH,AHMEDABAD vs. THE ITO, WARD-5(3)(1), AHMEDABAD

The appeal of the assessee is allowed in full

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita No.918/Ahd/2024 िनधा"रण वष" /Assessment Year : 2014-15 Manish Devendrakumar Shah The Ito बनाम/ 206, 2Nd Floor, Kalash 1 Ward-5(3)(1) V/S. Navrangpura Ahmedabad Ahmedabad – 380 009 "थायी लेखा सं./Pan: Aqjps 4226 K (अपीलाथ"/ Appellant) ("" यथ"/ Respondent) Assessee By : Shri S.N. Divatia, Ar & Shri Samir Vora, Ar Revenue By : Shri Rignesh Das, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 20 /02/2025 घोषणा की तारीख /Date Of Pronouncement: 25/02/2025 आदेश/O R D E R Per Makarand V. Mahadeokar, Am:

92,400/- made by the Assessing Officer [hereinafter referred to as "AO"] under section 68 of the Income Tax Act, 1961 (hereinafter

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 did not apply to the advances received for alleged sale of land. 3 The appellant craves leave to amend or alter any ground or add a new ground, which may be necessary.” 3. The first issue raised by the Revenue is that the Ld. CIT-A erred in deleting the addition made by the AO for Rs. 33.92 crores

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 did not apply to the advances received for alleged sale of land. 3 The appellant craves leave to amend or alter any ground or add a new ground, which may be necessary.” 3. The first issue raised by the Revenue is that the Ld. CIT-A erred in deleting the addition made by the AO for Rs. 33.92 crores

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 did not apply to the advances received for alleged sale of land. 3 The appellant craves leave to amend or alter any ground or add a new ground, which may be necessary.” 3. The first issue raised by the Revenue is that the Ld. CIT-A erred in deleting the addition made by the AO for Rs. 33.92 crores

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 did not apply to the advances received for alleged sale of land. 3 The appellant craves leave to amend or alter any ground or add a new ground, which may be necessary.” 3. The first issue raised by the Revenue is that the Ld. CIT-A erred in deleting the addition made by the AO for Rs. 33.92 crores

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 Act, is directed to be deleted. The second ground of appeal of the assessee relates to claim of depreciation of Rs. 18,92

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

In the result, the appeal of the assessee is allowed

92,962/-, there was shortage of stock in trade to the amount of Rs. 1,60,66,165/-. The assessee has declared income of Rs. 50 lacs. During the course of assessment, assessing officer observed that assessee has not fully paid the advance tax on the income of Rs. 50 lacs declared during the survey as the cheques submitted during

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. The CIT(Appeals) confirmed the disallowance of commission expenses of Rs.19,92,025/- on the ground

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

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

GITABEN DINESHBHAI PATEL,AHMEDABAD vs. ITO WARD 5(3)(1), AHMEDABAD

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

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

92,789/- under section 68 of the Act by treating the Long-Term Capital Gain (LTCG) claimed by the assessee

PAWAN EDIFICE PVT. LTD.,VADODARA vs. THE DY.CIT, CIRCLE-2(1)(2), VADODARA

section 68 and also deleted the\nrelated disallowance of Rs. 92,603/- towards interest.\n96. The Revenue is in appeal

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

section 68 of the Act and onus shifted on the AO to prove otherwise based on contrary materials on record. 92

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

section 68 of the Act and onus shifted on the AO to prove otherwise based on contrary materials on record. 92

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

section 68 of the Act and onus shifted on the AO to prove otherwise based on contrary materials on record. 92

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

92,659/- only leading to a difference ITA No. 3048/Ahd/14 & 6 Ors. [M/s. Asian Agency] - 4 - of Rs. 4,09,82,116/- representing the excessive amount of sundry creditor shown by the assessee. 4.2 On question about the impugned difference by the AO, the assessee failed to reconcile the same. Therefore, in the absence of any reconciliation by the assessee

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

92,659/- only leading to a difference ITA No. 3048/Ahd/14 & 6 Ors. [M/s. Asian Agency] - 4 - of Rs. 4,09,82,116/- representing the excessive amount of sundry creditor shown by the assessee. 4.2 On question about the impugned difference by the AO, the assessee failed to reconcile the same. Therefore, in the absence of any reconciliation by the assessee