RANCHODBHAI KARAMSHIBHAI DHAMI,RAJKOT vs. ITO, WARD-1(2)(2), RAJKOT, RAJKOT

The appeal of the assessee is allowed for statistical purposes

Bench: Dr. Arjun Lal Saini, Am. & Diesh Mohan Sinha, Jm आयकरअपीलसं./Ita No. 431/Rjt/2024 ("नधा"रणवष" / Assessment Year: (2012-13) (Hybrid Hearing) Ranchodbhai Karamshibhai Dhami. Vs. Ito Ward-1(2)(2), Rajkot. M. N. Manvar & Co. Ca, 504, Star Plaza, Nr. Circuit House, Phulchhab Chowk, Rajkot. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabts8458H (Appellant) (Respondent) Appellant By : Shri M. N. Manvar, Ld. Ar Respondent By : Shri Abhimanyu Singh Yadav, Ld. Sr. Dr Date Of Hearing : 19/ 12/2024 Date Of Pronouncement : 20 /01/2025 आदेश / O R D E R Per Dinesh Mohan Sinha, Jm: Captioned Appeal Filed By The Assessee Is Directed Against The Order Passed By The National Faceless Appeal Centre [(In Short “Nfac/Ld.Cit(A)”] Vide Order Dated 01/05/2024, Which In Turn Assessment Order Passed By Ld. Assessing Officer U/S 143(3) R.W.S. 147 Of The Income Tax Act, 1961 (In Short “The Act”). 2. Grounds Of Appeal Raised By The Assessee Are As Followed: 1). Cit(A)-Nfac Erred In Law & Facts In Confirming The Addition Of Short Term Capital Gain Made By Ao Rs. 29,56,695/- U/S 50C Of The Income Tax Act, 1961 (The Act) For The Income In The Nature Of Business

capital gain made by AO Rs. 29,56,695/- u/s 50C of the Income Tax Act, 1961 (the act) for the income in the nature of business ITA-431/RJT/2024 (AY-2012-13) Ranchhodbhai Vs. ITO Ward-1(2)(2), Rajkot. Rs. 1,22,770/- from sale of industrial plots jointly owned by the appellant and other 4 (Four

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-2(1), RAJKOT, RAJKOT vs. BHAWANI INDUSTRIES INDIA LLP, RAJKOT

capital in the industrial undertaking set up,\n10\nBhawani Industries India LLP\nITA Nos. 247 to 250/RJT/2024 & Ors. (AYs: 2012-13, 2013-14 & Ors.)\n(2). employment of requisite labour therein, (3). manufacture or production of\narticles in the said undertaking, (4). earning of profits clearly attributable to the\nsaid new undertaking, and (5) above all, a separate and distinct

BHAVANI INDUSTRIES INDIA LLP,RAJKOT vs. ACIT, CIRCLE-2(1), RAJKOT, RAJKOT

capital in the industrial undertaking set up,\n(2). employment of requisite labour therein, (3). manufacture or production of articles in the said undertaking, (4). earning of profits clearly attributable to the said new undertaking, and (5) above all, a separate and distinct identity of the industrial unit set up. The Court is of the view that

ASSISTANT COMMISSINER OF IINCOME TAX CIRCLE-2(1), RAJKOT, RAJKOT vs. BHAWANI INDUSTRIES INDIA LLP, RAJKOT

capital in the industrial undertaking set up,\n10\nBhawani Industries India LLP\nITA Nos.247 to 250/RJT/2024 & Ors. (AYs: 2012-13, 2013-14 & Ors.)\n(2). employment of requisite labour therein, (3). manufacture or production of\narticles in the said undertaking, (4). earning of profits clearly attributable to the\nsaid new undertaking, and (5) above all, a separate and distinct identity

BHAVANI INDUSTRIES INDIA LLP,RAJKOT vs. ADDI. CIT, RANGE-2, RAJKOT, RAJKOT

capital in the industrial undertaking set up,\n10\n(2). employment of requisite labour therein, (3). manufacture or production of\narticles in the said undertaking, (4). earning of profits clearly attributable to the\nsaid new undertaking, and (5) above all, a separate and distinct identity of the\nindustrial unit set up. The Court is of the view that

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1), RAJKOT, RAJKOT vs. BHAWANI INDUSTRIES INDIA LLP, RAJKOT

capital in the industrial undertaking set up,\n10\nBhavani Industries India LLP\nITA Nos. 247 to 250/RJT/2024 & Ors. (AYs: 2012-13, 2013-14 & Ors.)\n(2). employment of requisite labour therein, (3). manufacture or production of\narticles in the said undertaking, (4). earning of profits clearly attributable to the\nsaid new undertaking, and (5) above all, a separate and distinct

SHRI BHARATKUMAR IASHWARBHAI BHATIYA,RAJKOT vs. THE ITO, WARD-1 (1) (2),, RAJKOT

264\nITR 254 (Gauhati)/[2003] 185 CTR 635 (Gauhati), it has been observed that merely because a\ntransaction takes place by cheque is not sufficient to discharge the burden. The assessee has to prove\nthe identity of the creditors and genuineness of the transaction. “It cannot be said that a transaction,\nwhich takes place by way of cheque, is invariably

SHRI BHARATKUMAR ISHWARBHAI BHATIYA,RAJKOT-GUJARAT vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1,, RAJKOT-GUJARAT

264\nITR 254 (Gauhati)/[2003] 185 CTR 635 (Gauhati), it has been observed that merely because a\ntransaction takes place by cheque is not sufficient to discharge the burden. The assessee has to prove\nthe identity of the creditors and genuineness of the transaction. \"It cannot be said that a transaction,\nwhich takes place by way of cheque, is invariably

THE INCOME TAX OFFICER-WARD-2,, JUNAGADH vs. SHRI DAMJIBHAI LEKHRAJBHAI THAVRANI,, JUNAGADH

264\nITR 254 (Gauhati)/[2003] 185 CTR 635 (Gauhati), it has been observed that merely because a\ntransaction takes place by cheque is not sufficient to discharge the burden. The assessee has to prove\nthe identity of the creditors and genuineness of the transaction. “It cannot be said that a transaction,\nwhich takes place by way of cheque, is invariably

THE ITO WARD-1 (2) (1),, RAJKOT vs. SHRI KHRAJMAL LEKHRAJBHAI THAVRANI, RAJKOT

264\nITR 254 (Gauhati)/[2003] 185 CTR 635 (Gauhati), it has been observed that merely because a\ntransaction takes place by cheque is not sufficient to discharge the burden. The assessee has to prove\nthe identity of the creditors and genuineness of the transaction. “It cannot be said that a transaction,\nwhich takes place by way of cheque, is invariably

BHARATKUMAR ISHWARBHAI BHATIYA,,RAJKOT vs. ASSTT. COMMR. OF INCOME TAX, CEN. CIR.-1,, RAJKOT

264\nITR 254 (Gauhati)/[2003] 185 CTR 635 (Gauhati), it has been observed that merely because a\ntransaction takes place by cheque is not sufficient to discharge the burden. The assessee has to prove\nthe identity of the creditors and genuineness of the transaction. \"It cannot be said that a transaction,\nwhich takes place by way of cheque, is invariably

SHRI BHARATKUMAR IASHWARBHAI BHATIYA,RAJKOT vs. THE ITO, WARD-1 (1) (2),, RAJKOT

264\nITR 254 (Gauhati)/[2003] 185 CTR 635 (Gauhati), it has been observed that merely because a\ntransaction takes place by cheque is not sufficient to discharge the burden. The assessee has to prove\nthe identity of the creditors and genuineness of the transaction. \"It cannot be said that a transaction,\nwhich takes place by way of cheque, is invariably

SHRI DAMJIBHAI LEKHRAJBHAI THAVRANI,,JUNAGADH vs. THE INCOME TAX OFFICER-WARD 1(2)(4),, RAJKOT

264 ITR 254 (Gauhati)/[2003] 185 CTR 635 (Gauhati), it has been observed that merely because a transaction takes place by cheque is not sufficient to discharge the burden. The assessee has to prove the identity of the creditors and genuineness of the transaction. “It cannot be said that a transaction, which takes place by way of cheque, is invariably

THE INCOME TAX OFFICER-WARD-2,, JUNAGADH vs. SHRI DAMJIBHAI LEKHRAJBHAI THAVRANI,, JUNAGADH

264\nITR 254 (Gauhati)/[2003] 185 CTR 635 (Gauhati), it has been observed that merely because a\ntransaction takes place by cheque is not sufficient to discharge the burden. The assessee has to prove\nthe identity of the creditors and genuineness of the transaction. “It cannot be said that a transaction,\nwhich takes place by way of cheque, is invariably

THE DY. COMMR. OF INCOME TAX, CEN. CIR.-1,, RAJKOT vs. BHARATKUMAR ISHWARBHAI BHATIYA,, RAJKOT

264\nITR 254 (Gauhati)/[2003] 185 CTR 635 (Gauhati), it has been observed that merely because a\ntransaction takes place by cheque is not sufficient to discharge the burden. The assessee has to prove\nthe identity of the creditors and genuineness of the transaction. “It cannot be said that a transaction,\nwhich takes place by way of cheque, is invariably