THE DEPUTY COMMR. INCOME TAX, CIRCLE-1(2),, RAJKOT vs. M/S RADHE RENEWABLE ENERGY DEVELOPMENT PVT. LTD.,, RAJKOT

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

Capital Gain” is devoid of any merit. 24 A.Y.2011-12 and others Furthermore, the assessee and the Directors are closely connected people and therefore there is no loss to the revenue merely on the reasoning that the income has been offered in the hands of the Director in place of the company. Thus, we don’t find any infirmity

THE DY. COMMR. OF INCOME TAX, CIRCLE-1(1),, RAJKOT-GUJARAT vs. M/S. RADHE RENEWABLE ENERGY DEVELOPEMENT PVT. LTD.,, RAJKOT-GUJARAT

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

Capital Gain” is devoid of any merit. 24 A.Y.2011-12 and others Furthermore, the assessee and the Directors are closely connected people and therefore there is no loss to the revenue merely on the reasoning that the income has been offered in the hands of the Director in place of the company. Thus, we don’t find any infirmity

SMT. JANKI KISHAN HINGORANI,RAJKOT vs. THE PR. CIT-1, RAJKOT, RAJKOT

In the result, the appeal of the Assessee is dismissed

Bench: Smt. Annapurna Gupta & Shri T.R. Senthil Kumar(Conducted Through Virtual Court) Assessment Year: 2015-16 Smt.Janki Kishan Hingorani The Pr.Cit 6/7, Subham Complex Rajkot-1 Royal Park, University Road बनाम/ Rajkot Rajkot – 380 006 Vs. Gujarat (Appellant ) ( Respondent ) Pan: Pan : Aahph 4774M Assessee By Ms.Amrin Pathan, Ld.Ar Revenue By Shri Shramdeep Sinha, Ld.Cit(Dr) Date Of Hearing 06/12/2023 Date Of Pronouncement 15/12/2023

capital gain on transfer of plot of land, the exemption claimed u/s.54 of the Act and allowed by the Assessing Officer was not in accordance with law. At the same time, he noted that the assessee was eligible to claim exemption u/s.54F of the Act, but even if the same is allowed to the assessee the quantum of exemption worked

THE ACIT, CIRCLE-2,, RAJKOT-GUJARAT vs. SHRI NARENDRA J.BHIMANI,, RAJKOT-GUJARAT

In the result the appeal is dismissed

capital gain may be calculated on the "Race course land" of "R. A. Jasani & Co." deeming the value of consideration at a rate of Rs.5600/- per sq. Mtr. for Assessment Year 2004-05 u/s 45(4) of the I.T. Act. After allowing deduction

SHRI KANJIBHAI B. RANGANI,,RAJKOT-GUJARAT vs. THE INCOME TAX OFFICER, WARD-5(1), RAJKOT-GUJARAT

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

capital gains on sale of land and the same was added to the total income of the assessee. In quantum appeal, Ld. CIT(Appeals), Rajkot confirmed the addition of Rs. 36,34,125/-on account of sale of plot of land. However, he allowed deduction

M/S CHANDRAKANT H. KAKKAD,,RAJKOT-GUJARAT vs. THE INCOME TAX OFFICER, WARD-4(2),, RAJKOT-GUJARAT

In the result, this ground of the assessee’s appeal is allowed

Capital Gains Account scheme. The AO accordingly I.T.A No. 126/Rjt/2017 A.Y. 2006-07 Page No 5 M/s. Chandrakant H. Kakkad vs. ITO denied the deduction

BHANUBEN MANSUKHLAL KHIMASIYA,JAMNAGAR vs. OFFICE OF PRINCIPAL COMMISSIONER OF INCOME-TAX, JAMNAGAR, JAMNAGAR

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinha

capital gain to the tune of Rs. 8,90,894/-, from Karma Ispat Ltd. (Now the name of the company has changed to Karma Industries Ltd from the year 2011) which was nothing but bogus transaction and has also claimed deduction

MANSUKHLAL KHIMJI KHIMASIYA HUF,JAMNAGAR vs. OFFICE OF PRINCIPAL COMMISSIONER OF INCOME-TAX, JAMNAGAR, JAMNAGAR

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinha

capital gain to the tune of Rs. 8,90,894/-, from Karma Ispat Ltd. (Now the name of the company has changed to Karma Industries Ltd from the year 2011) which was nothing but bogus transaction and has also claimed deduction

MANSUKHLAL KHIMJI KHIMASIYA,JAMNAGAR vs. OFFICE OF PRINCIPAL COMMISSIONER OF INCOME-TAX, JAMNAGAR, JAMNAGAR

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinha

capital gain to the tune of Rs. 8,90,894/-, from Karma Ispat Ltd. (Now the name of the company has changed to Karma Industries Ltd from the year 2011) which was nothing but bogus transaction and has also claimed deduction

JAYESH KHIMJI KHIMASIYA HUF,JAMNAGAR vs. OFFICE OF PRINCIPAL COMMISSIONER OF INCOME-TAX, JAMNAGAR, JAMNAGAR

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinha

capital gain to the tune of Rs. 8,90,894/-, from Karma Ispat Ltd. (Now the name of the company has changed to Karma Industries Ltd from the year 2011) which was nothing but bogus transaction and has also claimed deduction

THE INCOME TAX OFFICER, WARD-1(2) (5), , RAJKOT vs. SHRI DHIRAJLAL BHANJIBHAI VADALIA, RAJKOT

Bench: Smt.Annapurna Gupta & T.R. Senthil Kumarassessment Year : 2009-10 Shri Dhirajlal Bhanjibhai Vadalia Cit-1, 1St Floor, Sterling Appts., Vs Rajkot. Jawahar Road, Rajkot.

deduction under section 54F viz. whether the assessee has deposited capital gain amount in the specified capital gain tax account

SHRI DHIRAJLAL BHANJIBHAI VADALIA,,RAJKOT-GUJARAT vs. THE COMMISSIONER OF INCOME TAX-I,, RAJKOT-GUJARAT

Bench: Smt.Annapurna Gupta & T.R. Senthil Kumarassessment Year : 2009-10 Shri Dhirajlal Bhanjibhai Vadalia Cit-1, 1St Floor, Sterling Appts., Vs Rajkot. Jawahar Road, Rajkot.

deduction under section 54F viz. whether the assessee has deposited capital gain amount in the specified capital gain tax account

SHRI AJAYBHAI ISHWARLAL GOGIA,,RAJKOT-GUJARAT vs. THE INCOME TAX OFFICER, WARD-1 (2) (5), RAJKOT

In the result, the assessee’s appeal is allowed

deducted while computing capital gains besides allowing other deductions. Neither ITO nor the appellate authority agreed with the assessee. The Tribunal

NIRMAL B. CHAVDA,,RAJKOT-GUJARAT vs. THE INCOME TAX OFFICER, WARD-2(1)(2),, RAJKOT-GUJARAT

In the result, the appeal of the assessee is dismissed

Capital Gain of the assessee. The assessment was completed u/s.144 after show cause notice to above effect was not responded by the assessee. The objections of the assessee in ground of appeal are threefold. First is against taking the sale consideration as per section 50C second is against not allowing the cost of acquisition and third is not allowing deduction

SHRI VASANTRAI PURSOTAM KACHALIA,RAJKOT vs. THE ITO WARD 2 (1) (1), RAJKOT

In the result, appeal filed by the assessee is partly allowed in above terms

Bench: Dr. Arjun Lal Sainiआयकरअपील सं. /Ita No.811/Rjt/2025 िनधा"रण वष"/Assessment Year : 2016-17 बनाम/ Vasantrai Pursotam Ito Ward 2(1)(1), Rajkot Vs Kachalia (Original - Ito Ward 2(1)(5), Rajkot) 210-Shrinathji Complex, Aaykar Bhavan, Race Course Road, Canal Road, Rajkot. Rajkot 360001 Rajkot 360002, Gujarat India "ायीलेखासं./जीआइआरसं./Pan/Gir No.: Adspk1354Q (अपीलाथ"/Assessee) (""थ"/Respondent)

deduction against long-term capital gains. 4. The Assessing Officer observed that the claimed expenditure of Rs.1,81,000/- purportedly

DUSHYANT BHARATBHAI MEHTA,RAJKOT vs. ITO WD-(2)(1)(2) , RAJKOT

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

capital gain and thereby, disallowing claim of\nexemption u/s 54F of the Act made by the assessee.\n(2) The Learned CIT(A) has erred in upholding the finding of the assessing officer that\nclaim of deduction

THE ITO, WARD-1 (1) (4),, RAJKOT-GUJARAT vs. SHRI MAHENDRABHAI D. ZALAVADIA,, RAJKOT-GUJARAT

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

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No.610/Rjt/2015 "नधा"रण वष"/Asstt. Year: 2007-2008 I.T.O., Shri Mahendrabhai D. Zalavadia, Vs. Ward-1(1)(4), 303, Ayodhya Apartment, Rajkot. University Road, Rajkot. Pan: Aabpz6007F

capital gain u/s.45(3) r.w.s 50C of the I.T Act. 2) The Learned C.I.T. (A)-1, Rajkot has erred in deleting remuneration from the firm amounting to Rs.1,58,79,299/- in which the appellant had claimed deduction

LATE SMT. PRITI A. GANDHI L/R. SHRI ANILBHAI A. GANDHI, RAJKOT,RAJKOT vs. THE PR. CIT-1, RAJKOT, RAJKOT

capital gain of Rs.1,32,35,925/-, has been shown\nfrom sale of 12,72,000 shares of Atlanta Infra& Finance Limited, with\nscript code 530479 (formerly known as Kadavani Securities Limited) and\nthe same has been claimed as exempt from tax u/s 10(38) of the Income-\ntax Act. This claim of the assessee has been allowed