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

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

26-8-2013, assessee having complied with requirement of section 54B(2) in light of time limit as per section 139(4), it could not have been denied benefit of exemption under section 54B by only taking into consideration section 139(1). 7.3 In the case of CIT v. Ms. Jagriti Aggarwal[2011] 15 taxmann.com 146 (Punjab & Haryana), the High

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

In the result the appeal is dismissed

section 49 which implies that the cost of acquisition of the asset in the hands of the retiring partners should be the market value on the date of retirement and not the cost for which the previous owner of the property acquired it. Since the consideration of the transfer of collective land of "R.AJasani & Co." to individual members has been

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

capital gain of 17,33,289/- in their return of income, the A.O. formed an opinion that the said LTCG was claimed, as exempt in the scrip Vax Housing Finance Corporation Ltd, and the same was an accommodation entry. 14. Having gone through the reasons recorded by the assessing officer, we noticed that the reasons recorded by the AO were

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

capital gain of 17,33,289/- in their return of income, the A.O. formed an opinion that the said LTCG was claimed, as exempt in the scrip Vax Housing Finance Corporation Ltd, and the same was an accommodation entry. 14. Having gone through the reasons recorded by the assessing officer, we noticed that the reasons recorded by the AO were

KAUSHALIYA SAMPATLAL DUDANI,JAMNAGAR vs. INCOME TAX OFFICER, WARD 2(6), JAMNAGAR

In the result, the appeal of the assessee is allowed

Bench: Dr. Arjun Lal Sainiआयकर अपील सं./ Ita No.659/Rjt/2025 िनधा"रण वष"/Assessment Year :2012-2013 Kaushaliya Sampatlal Dudani The Ito, Ward-2(6), बनाम/ K-1/79/4 G.I.D.C., Shanker Ayakar Bhawan, Jamnagar Vs Tekri, Udyognagar, Jamnagar Jamnagar. Gujarart-361005 "ायीलेखासं./जीआइआरसं./Pan/Gir No.: Abnpd8662P (अपीलाथ"/Appellant) (""थ"/Respondent) िनधा"रती की ओर से/Assessee By : Shri Sagar Shah, Ld. Ar राज" की ओर से/Revenue By : Shri Abhimanyu Singh, Ld. Sr-Dr

section 250 of the Income Tax Act, 1961 (hereinafter referred to as “the Act”) by National Faceless Appeal Centre (NFAC), Delhi/Commissioner of Income-tax (Appeals), dated 15.08.2025, which in turn arises out of an assessment order passed by the Assessing Officer u/s 147 of the Act, on 22.09.2021. 2. At the outset, ld. Counsel for the assessee, submitted that issue

MANSUKHBHAI KANJIBHAI SAKARIYA,RAJKOT vs. PRINCIPAL COMMISSIONER OF INCOME TAX, RAJKOT-1, RAJKOT

In the result, appeal filed by the assessee is allowed

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकरअपीलसं/.Ita No.318/Rjt/2024 "नधा"रणवष"/ Assessment Year: 2016-17 Mansukhbhai Kanjibhai Sakariya The Pr.Commissioner Of बनाम At Khajuri Gundala Income Tax-1, Rajkot. Post Station: Vavdi Vs. Amarnagar, Khajuri Gundala. Pan : Aslps 7027 E (अपीलाथ"/Assessee) : (""यथ"/Respondent) "नधा"रतीक"ओरसे/Assessee By : Shri Rajendra Singhal, Ld.Ar राज"वक"ओरसे/Revenue By : Shri Sanjay Punglia, Ld.Cit-Dr

capital gains tax under section 45 of the I.T. Act, the interest received undersection 28 of the Act of 1894 being an accretion to the value, would form part of the compensation and wouldbe exigible to tax under section 45(5) of the I.T. Act, whereas the interest received under section 34 of the Actof 1894 would be "interest" within

HANSA JITENDRA HARIA,JAMNAGAR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, JAMNAGAR

In the result, the appeal of the assessee is dismissed

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No.104/Rjt/2024 ("नधा"रण वष" / Assessment Year: (2013-14) (Hybrid Hearing) Hansa Jitendra Haria Vs. Principal Commissioner Of 2, Oswal Colony, Near Rajendra Income Tax Balkrindagan, Jamnagar, Gujarat Jamnagar 361005. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aahph4309L (Assessee) (Respondent)

capital gain ( in brief “LTCG”), as exempt u/s 10(38) of the Act, to the tune of Rs. 5,26,730/-, in the return of income filed by the assessee. Accordingly, the assessment in the case of the assessee was finalized vide order u/s 147 rws 144B of the Income-tax Act (for short 'the Act'), dated 30/03/2022 by accepting

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.

26 of the Paper Book] which is self-explanatory and reads as follows: “… Facts of the case is that the assessee is an individual deriving income from salary, share of profit from Firm and capital gain for the year under consideration [assessment year 2009–10]. Moreover he had sold agricultural land, based on which the case was selected for scrutiny

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.

26 of the Paper Book] which is self-explanatory and reads as follows: “… Facts of the case is that the assessee is an individual deriving income from salary, share of profit from Firm and capital gain for the year under consideration [assessment year 2009–10]. Moreover he had sold agricultural land, based on which the case was selected for scrutiny

BABUBHAI KANJIBHAI SAKARIA,JETPUR vs. ITO WD 1(2)(1), RAJKOT, RAJKOT

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

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No. 156/Rjt/2025 (Assessment Year: 2016-17) Babubhai Kanjibhai Sakariya Vs. Ito, Wd 1(2)(1), Rajkot Plot No. 82 Satyam Park, Amarnagar Aaykar Bhavan, Race Course Ring Road, Jetpur,(Rajkot-Gujarat) -360370 Road, Rajkot 360001 "ायीलेखासं./जीआइआरसं./Pan/Gir No.: Agnps7407C (अपीलाथ"/Appellant) (""थ"/Respondent)

capital gains tax under section 45 of the I.T. Act, the Page 9 of 19 Babubhai K. Sakaria interest received undersection 28 of the Act of 1894 being an accretion to the value, would form part of the compensation and would be exigible to tax under section 45(5) of the I.T. Act, whereas the interest received under section

KANTABEN VAJUBHAI PAGHADAL,RAJKOT, GUJARAT vs. ITO WD 1(2)(1), RAJKOT, RAJKOT

In the result, appeal filed by the assessee is allowed

Bench: Dr. Arjun Lal Sainiआयकरअपीलसं./Ita No.552/Rjt/2025 "नधा"रणवष" / Assessment Year: (2016-17) (Hybrid Hearing) Kantaben Vajubhai Paghadal Vs. It-Office, New Aayakar At- Charan Samadhiyala, Bhawan, Jetpur – 360370(Gujarat) Rajkot - 360370 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Cxmpp2962D (Appellant) (Respondent)

capital gains tax under section 45 of the I.T. Act, the interest received under section 28 of the Act of 1894 being an accretion to the value, would form part of the compensation and would be exigible to tax under section 45(5) of the I.T. Act, whereas the interest received under section 34 of the Act of 1894 would

VISHAL NAVINCHANDRA SHAH,JAMNAGAR vs. OFFICE OF THE COMMISSIONER OF INCOME TAX, APPEAL, BHUBANESWAR

In the result, appeal of the assessee, is allowed for statistical purpose

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

Section 50C and make an addition of Rs. 23,26,000/- to Long Term Capital Gain. During the assessment proceedings

KARANBHAI BHARATBHAI GANGDEV,,RAJKOT-GUJARAT vs. THE INCOME TAX OFFICER, WARD-5(2),, RAJKOT-GUJARAT

In the result, Assessee’s appeal is allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

capital gain under the provisions of section 50C of the Act. The DVO in turn has valued the property at Rs. 26

BHARATBHAI NARSHIBHAI PATEL,,RAJKOT-GUJARAT vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2,, RAJKOT-GUJARAT

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

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No.47/Rjt/2014 ("नधा"रण वष"/Assessment Year : 2009-10) Bharatbhai Narsibhai Patel The Acit बनाम/ Prop Of M/S.Pushpam Circle-2 Vs. Creation Rajkot Mehul Textile Nagar Sant Kabir Road, Rajkot "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Adppp 6615 C .. (अपीलाथ"/Appellant) (""यथ" / Respondent) अपीलाथ" ओर से/ Appellant By : None ""यथ" क" ओर से/Respondent By: Shri Pravin Verma, Sr.Dr

gain on account of the investment in residential house property under the provisions of section 54F of the Act if such investment is made in the name of the wife or person directly connected with the assessee. Thus the facts of the above case are squarely applicable to the facts of the case on hand subject to the caveat that

ACIT, CIRCLE-1(1), RAJKOT, RAJKOT vs. GANDHI REALITY (INDIA) PRIVATE LIMITED, RAJKOT

In the result, the appeal of the Revenue is dismissed

Bench: Dr. Arjun Lal Saini, Am. & Dinesh Mohan Sinha, Jm

gaining financial and operational synergy by combining staff and resources of all the three companies. It was envisaged to create one single entity by encompassing different business operations in one legal entity, each company would leverage off of the other company's strengths. The merger would lead to creating a strong entity wherein fund raising would have been easier because

MANISH GYANCHAND JAIN,GANDHIDHAM vs. ASSTT. COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE, , GANDHIDHAM

In the result the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

26. The AO during the assessment proceedings found that the assessee has made payment of 91.46 crores against which there was a pay out of 924.54 lakhs. Thus, the net outflow stood at 91.21 crores only. The assessee at the same time 18 A.Y. 2016-17 and 4 others has also accepted an income of 91.035 crores from the shipping