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

M/S RADHE RENEWABLE ENERGY DEVELOPMENT PVT. LTD.,,RAJKOT-GUJARAT vs. THE ASSTT. COMMR. INCOME TAX, CIRCLE-5,, 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

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

AMIBEN RAJESHKUMAR PUNATAR,RAJKOT vs. ITO, WARD-1(2)(1), RAJKOT, RAJKOT

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

Bench: Dr. Arjun Lal Sainiआयकरअपील सं. /Ita No.24/Rjt/2026 िनधा"रण वष"/Assessment Year : 2015-16 Amiben Rajeshkumar Punatar, बनाम/ Ito, Ashish, 41-New Jagnath Plot, Vs Ward – 1(2)(1), Rajkot – 360001(Gujarat) Rajkot "ायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahrpp4181F (अपीलाथ"/Assessee) (""थ"/Respondent)

143(3) of the Act. The assessee has disclosed the long- term capital gain (LTCG) on the impugned shares in its return of income and assessing officer had already examined the said long-term capital gain and framed the assessment order under section

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

143(3) r.w.s. 147 of the Income Tax Act, 1961; in short “the Act”. I.T.A No. 126/Rjt/2017 A.Y. 2006-07 Page No 2 M/s. Chandrakant H. Kakkad vs. ITO 2. The assessee has taken the following grounds of appeal:- “1.1. The Ld. CIT(A) has erred in law and facts in confirming the income

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

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

143(3) read with section 263 of the Act, (these four different assessees) have not proved the genuineness of the transactions. A sample assessment order (appeal effect) in ITA No.03/RJT/2024, in the case of Mansukhlal Khimji K HUF, for assessment year 2012–13, is reproduced below: “4.6 Conclusion drawn-As the assessee has claimed income from capital gain

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

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

143(3) read with section 263 of the Act, (these four different assessees) have not proved the genuineness of the transactions. A sample assessment order (appeal effect) in ITA No.03/RJT/2024, in the case of Mansukhlal Khimji K HUF, for assessment year 2012–13, is reproduced below: “4.6 Conclusion drawn-As the assessee has claimed income from capital gain

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

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

143(3) read with section 263 of the Act, (these four different assessees) have not proved the genuineness of the transactions. A sample assessment order (appeal effect) in ITA No.03/RJT/2024, in the case of Mansukhlal Khimji K HUF, for assessment year 2012–13, is reproduced below: “4.6 Conclusion drawn-As the assessee has claimed income from capital gain

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

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

143(3) read with section 263 of the Act, (these four different assessees) have not proved the genuineness of the transactions. A sample assessment order (appeal effect) in ITA No.03/RJT/2024, in the case of Mansukhlal Khimji K HUF, for assessment year 2012–13, is reproduced below: “4.6 Conclusion drawn-As the assessee has claimed income from capital gain

BHIKHALAL PRAHLADRAI AGARWAL HUF,GANDHIDHAM vs. ASSISTANT COMMISSIONER OF INCOME TAX GANDHIDHAM CIRCLE, GANDHIDHAM

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita Nos.779&780/Rjt/2024 ("नधा"रण वष" / Assessment Years: 2011-12 & 2016-17) Bhikhalal Prahaladrai Agarwal- Vs. Assistant Commissioner Of Income Tax, Huf, Gandhidham Circle C/O. Sarda & Sarda, Sakar, 1St It Office, Plot No. 32, Sector No. 3, Near Floor, Dr. Radha-Krishnan Road, Iffco Colony, Gandhidham Opp. Rajkumar College Rajkot Gandhidham - 370201 Rajkot - 360001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabha4638R (Assessee) (Respondent) Assessee By : Shri Vimal Desai, Ld. Ar Respondent By : Shri Abhimanyu Singh Yadav, Ld. Sr. Dr Date Of Hearing : 05/06/2025 Date Of Pronouncement : 21/08/2025

143(3) of the Act is bad in law. 2.The ld. AO has erred in law as well as on facts in making the addition of Rs. 46,46,469/-, u/s 46A of the Act. on account of long-term capital gain by denying the exemption u/s 10(34A). The ld. CIT(A) has erred in law as well

BHIKHALAL PRAHALADRAI AGARWAL HUF,GANDHIDHAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, GANDHIDHAM CIRCLE, GANDHIDHAM

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita Nos.779&780/Rjt/2024 ("नधा"रण वष" / Assessment Years: 2011-12 & 2016-17) Bhikhalal Prahaladrai Agarwal- Vs. Assistant Commissioner Of Income Tax, Huf, Gandhidham Circle C/O. Sarda & Sarda, Sakar, 1St It Office, Plot No. 32, Sector No. 3, Near Floor, Dr. Radha-Krishnan Road, Iffco Colony, Gandhidham Opp. Rajkumar College Rajkot Gandhidham - 370201 Rajkot - 360001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabha4638R (Assessee) (Respondent) Assessee By : Shri Vimal Desai, Ld. Ar Respondent By : Shri Abhimanyu Singh Yadav, Ld. Sr. Dr Date Of Hearing : 05/06/2025 Date Of Pronouncement : 21/08/2025

143(3) of the Act is bad in law. 2.The ld. AO has erred in law as well as on facts in making the addition of Rs. 46,46,469/-, u/s 46A of the Act. on account of long-term capital gain by denying the exemption u/s 10(34A). The ld. CIT(A) has erred in law as well

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

In the result the appeal is dismissed

section 143(3) of the Income Tax Act, 1961, for the assessment year 2008-09. The assessee has also filed a cross objection but as learned counsel for the assessee fairly submits, it merely supports this order of the CIT(A) and is not, therefore, pressed. The CO is thus dismissed as not pressed. 2. Coming to the appeal filed

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

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

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपीलसं./Ita No.422/Rjt/2024 (निर्धारणवर्ष / Assessment Year: (2015-16) Dushyant Bharatbhai Mehta (Physical Hearing) C/O Bhabha Fashions 34/35 Bhabha Bazzar, Ghee Kanta Road, Vs. The Ito, Ward -2(1)(2), Aaykar Bhawan, Rajkot Rajkot 360001 (Gujarat) स्थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahgpm4763P (Assessee) (Respondent) Assessee By Respondent By : Shri Vijay Mehta, Ld. Ar : Shri Abhimanyu Singh, Yadav, Ld. Sr. Dr Date Of Hearing : 01/05/2025 Date Of Pronouncement : 30/06/2025 आदेश / Order Per, Dr. A. L. Saini, Am: By Way Of This Appeal, The Assessee Has Challenged Correctness Of The Order Dated 27-05-2024 Passed By The Learned Cit(A), In The Matter Of Assessment Under Section 143(3) Of The Income Tax Act 1961, For The

section 143(3) of the Income Tax Act 1961, for the assessment year 2015-16. 2. Grievances raised by the assessee are as follows. (1).The Learned CIT(A) has erred in upholding assessment of gain of Rs. 1,01,04,063/- as business income, as against long term capital

RADHIKA JEWELLERS,RAJKOT vs. DY.CIT 2 (1), RAJKOT

In the result, appeal filed by the assessee is allowed

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

section 45(3). The addition of Rs.2,95,09,518/- is prayed for deletion. 4. The appellant reserves its rights to add, amend, alter or modify any of the grounds on or before the time of final hearing. 3. The relevant material facts, as culled out from the material on record, are as follows. Return of income, declaring an income

RAMESHBHAI DEVRAJBHAI KHICHADIA,RAJKOT vs. PR. CIT, RAJKOT-1, RAJKOT

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकर अपील सं./Ita No. 51/Rjt/2022 िनधा"रण वष"/Asstt. Years: 2012-2013

143(3) section 147 of the Act at the income declared by the assessee in the return of income at Rs. 22,17,280/- vide order dated 30 of December 2019. 3.2 Subsequently, the proceedings under section 263 of the Act was initiated vide notice dated 11 December 2021 alleging that the assessee has declared long-term capital gain

SHRI JAYANTILAL P. SATIKUNVER,,RAJKOT-GUJARAT vs. THE COMMISSIONER OF INCOME TAX-III,, RAJKOT-GUJARAT

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकर अपील सं./I.T.A. No.469/Rjt/2014 ("नधा"रण वष" / Assessment Year 2010-11)

gain computed by the learned CIT in the proceedings under section 263 of the Act was subject to tax year in which such converted stock in trade is sold. It was submitted by the learned AR that the provisions of section 45(2) requires to tax the income arising on the conversion of capital asset as stock in trade

SMT. BIJAL DARSHITBHAI PUJARA,,RAJKOT vs. THE DY. COMMR. OF INCOME TAX, CIRCLE-1 (1),, RAJKOT

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed (Accountant Member), Shri Siddhartha Nautiyal (Judicial Member)

capital gains tax with respect to the aforesaid immovable properties, was in pursuance to the aforesaid notice under section 143

SHRI CHHAGANBHAI MULJIBHAI PATOLIYA,JETPUR vs. THE ITO WARD-1 (2) (3) RAJKOT, RAJKOT

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Dr. Arjun Lal Sainiआयकरअपीलसं./Ita No.477/Rjt/2025 "नधा"रणवष" / Assessment Year: (2012-13) Chhaganbhai Muljibhai Patoliya, Vs The Ito Ward 1(2)(3), Radhe Park, Shreeji School, Aayakar Bhavan, Race Course, . Amarnagar Road, Rajkot (Gujarat) - 360001 Jetpur (Gujarat) - 360370 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ddrpp2365A (Appellant) (Respondent)

143(3) r.w.s. 147 of the Income Tax Act, 1961. 2. Grounds of appeal raised by the assessee are as follows: 1. The Id CIT(A) has erred in law and facts in not considering need the addition made relates to capital gain and the statutory position of capital gain specifically required to reduce the purchase cost with index cost