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

94,436/- has been received during the year under consideration and repayment of Rs, 4,23,93,000/- was made during the year under consideration through proper banking channel leaving with a receivable closing balance of Rs. 2,01,075/-. In respect of unsecured loan of Rs. 2,00,00,OOO/- from Shreej Infrastructure, a group concern of Sarthav Group

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

7. LD. CIT (A) erred in law and on facts in confirming addition of Rs. 14,42,90,465/- u/s 68 for unsecured loan received during the when the primary onus was duly discharged by appellant by furnishing confirmation with PAN, income tax returns and evidence of amounts received through cheques, Ld. CIT (A) ought to have considered the submission

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

7. LD. CIT (A) erred in law and on facts in confirming addition of Rs. 14,42,90,465/- u/s 68 for unsecured loan received during the when the primary onus was duly discharged by appellant by furnishing confirmation with PAN, income tax returns and evidence of amounts received through cheques, Ld. CIT (A) ought to have considered the submission

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

7. LD. CIT (A) erred in law and on facts in confirming addition of Rs. 14,42,90,465/- u/s 68 for unsecured loan received during the when the primary onus was duly discharged by appellant by furnishing confirmation with PAN, income tax returns and evidence of amounts received through cheques, Ld. CIT (A) ought to have considered the submission

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

7. LD. CIT (A) erred in law and on facts in confirming addition of Rs. 14,42,90,465/- u/s 68 for unsecured loan received during the when the primary onus was duly discharged by appellant by furnishing confirmation with PAN, income tax returns and evidence of amounts received through cheques, Ld. CIT (A) ought to have considered the submission

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)

7. In response, DR placed reliance on the observations made by the assessing officer and Ld. CIT(Appeals), in their respective orders. 8. We have heard the rival contentions and perused the material on record. On going through the facts of the instant case, we are of the considered view that the present additions have been confirmed by the assessing

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

7,46,23,277/- (Rs.3,75,39,177/- under section 68 of the Act and Rs. 3,44,10,000/- suppression of sales) to the total income of the assessee. Aggrieved assessee preferred an appeal to the learned CIT (A). 5. The assessee before the learned CIT(A) submitted that it has written various letters to the central excise

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

7,46,23,277/- (Rs.3,75,39,177/- under section 68 of the Act and Rs. 3,44,10,000/- suppression of sales) to the total income of the assessee. Aggrieved assessee preferred an appeal to the learned CIT (A). 5. The assessee before the learned CIT(A) submitted that it has written various letters to the central excise

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

94,865/-. Penalty proceedings under section 270A were also initiated. Patel Wines vs. DCIT Asst.Year –2017-18 - 4– 5. Aggrieved by the assessment order, the assessee carried the matter in appeal before the Ld. CIT(Appeals). In the grounds of appeal, the assessee challenged the addition made by the Assessing Officer mainly on the ground that the Assessing Officer

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

94. Similarly, we also note that the assessee in respect of all the parties out of the parties as discussed above has furnished the sufficient documentary pieces of evidence including the details of the income of the parties. Therefore in our considered view, the assessee has discharged its onus imposed under section 68 of the Act. 95. In view

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

94. Similarly, we also note that the assessee in respect of all the parties out of the parties as discussed above has furnished the sufficient documentary pieces of evidence including the details of the income of the parties. Therefore in our considered view, the assessee has discharged its onus imposed under section 68 of the Act. 95. In view

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

94. Similarly, we also note that the assessee in respect of all the parties out of the parties as discussed above has furnished the sufficient documentary pieces of evidence including the details of the income of the parties. Therefore in our considered view, the assessee has discharged its onus imposed under section 68 of the Act. 95. In view

SHAUNAK SHAILESH SHAH ,9, NEELKANTH BUNGLOW, PRAHLADNAGAR, SATELLITE, AHMEDABAD. vs. INCOME TAX OFFICER, WARD - 15(4),, 7TH FLOOR, NATURE VIEW BUILDING, ASHRAM ROAD, AHMEDABAD 380009

In the result, the appeal of the assessee is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No. 1421/Ahd/2017 "नधा"रण वष"/Asstt. Year: 2011-2012 Shaunak Shailesh Shah, I.T.O., 9, Neelkanth Bunglow, Vs. Ward-15(4), Prahladnagar, Ahmedabad. Satellite, Ahmedabad.

94-100 Asstt. Year 2011-12 4 4.1 The assessee regarding the deposits made through cheques for the sum of Rs. 52,20,923.00 submitted that the transactions were carried out through the banking channel, therefore the question does not arise for making the addition under section 68 of the Act. 4.2 The assessee also submitted that

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 by the Hon’ble Calcutta High Court in the case of CIT Vs. Precision Finance (P) Ltd reported in 208 ITR 465 wherein it was held as under: “It was for the assessee to prove the identity of the creditors, their creditworthiness and the genuineness of the transactions. On the facts of this case

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

94,95,635/-\n18,19,68,995/-\nTotal Own Funds (a + b)\n19,52,09,835/-\n20,76,83,195/-\n18. It was thus urged that, in view of the availability of substantial own\nfunds and the binding judicial precedents, the disallowance sustained by\nthe CIT(A) under section 14A ought to be deleted in full.\n19. With regard

JCIT(OSD), CIR-3(1)(2),, AHMEDABAD vs. M/S. RADHE DEVELOPERS (INDIA) LTD.,, AHMEDABAD

In the result the appeal filed by the revenue is dismissed

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No. 1240/Ahd/2018 With C.O. 95/Ahd/2019 "नधा"रण वष"/Asstt. Year: 2012-2013 J.C.I.T(Osd), M/S Radhe Developers (India) Ltd., 1St Floor, Chunibhai Chambers, Circle-3(1)(2), Vs. Ahmedabad. B/H City Cold Cinema, Off. Ashram Road, Ahmedabad. Pan: Aaacr9177L

7. Being aggrieved by the order of the learned CIT (A) the Revenue is in appeal before us. 8. The learned DR before us contended that the assessee was not able to substantiate deposit of cash in the account of Shri Kanjibhai based on documentary evidence that such cash does not represent its undisclosed income. 9. The learned AR before

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

Appeals are partly allowed for\nstatistical reasons

94,95,635/-\n18,19,68,995/-\nTotal Own Funds (a + b)\n19,52,09,835/-\n20,76,83,195/-\n18.\nIt was thus urged that, in view of the availability of substantial own\nfunds and the binding judicial precedents, the disallowance sustained by\nthe CIT(A) under section 14A ought to be deleted in full.\n19.\nWith regard

THE DY.CIT, CENTRAL CIRCLE-1, VADODARA vs. PAWAN EDIFICE PVT. LTD., VADODARA

Appeals are partly allowed for\nstatistical reasons

94,95,635/-\n18,19,68,995/-\nTotal Own Funds (a + b)\n19,52,09,835/-\n20,76,83,195/-\n18.\nIt was thus urged that, in view of the availability of substantial own\nfunds and the binding judicial precedents, the disallowance sustained by\nthe CIT(A) under section 14A ought to be deleted in full.\n19.\nWith regard