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

32. We have heard the rival contentions of both the parties and perused the materials available on record. Admittedly, the own fund of the assessee exceeds the amount of loan and advance given to the parties and therefore it is presumed that the interest free loans and advances were provided out of the share capital and reserve and surplus fund

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

32. We have heard the rival contentions of both the parties and perused the materials available on record. Admittedly, the own fund of the assessee exceeds the amount of loan and advance given to the parties and therefore it is presumed that the interest free loans and advances were provided out of the share capital and reserve and surplus fund

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. The claim of assessee is that the new asset was acquired jointly with daughter in law before the end of time allowed u/s 139(4) for furnishing the return of income and hence he should

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

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 आदेश

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

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 आदेश

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

32 SOT 419(Mum.), CIT v. Thiruvengadam Investments Pvt. Ltd. [2010] 320 ITR 345(Mad.) Section 50C is not applicable for calculating business income under section 28. 4. The Assessing Officer has erred in law by not giving enough opportunity to the assessee before passing Order and not follows the principle of natural justice. 5. The Commissioner of Income

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

capital gain taxability under section 45 with respect to revaluation of assets by the partnership Firm and credit of revaluation amounts of the partners in their profit-sharing ratio. However, the facts of the assessee`s case refer to claim of depreciation on goodwill under section 32

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

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

32 share broking entities and such entities accepted that they were actively involved in the bogus long term capital gains and loss scam. It was mentioned in the investigation report that certain scripts which included scrip "Karma Ispat" were used and manipulated to provide bogus accommodation entries to the beneficiaries in the form of bogus long term capital gains (which

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

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

32 share broking entities and such entities accepted that they were actively involved in the bogus long term capital gains and loss scam. It was mentioned in the investigation report that certain scripts which included scrip "Karma Ispat" were used and manipulated to provide bogus accommodation entries to the beneficiaries in the form of bogus long term capital gains (which

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

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

32 share broking entities and such entities accepted that they were actively involved in the bogus long term capital gains and loss scam. It was mentioned in the investigation report that certain scripts which included scrip "Karma Ispat" were used and manipulated to provide bogus accommodation entries to the beneficiaries in the form of bogus long term capital gains (which

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

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

32 share broking entities and such entities accepted that they were actively involved in the bogus long term capital gains and loss scam. It was mentioned in the investigation report that certain scripts which included scrip "Karma Ispat" were used and manipulated to provide bogus accommodation entries to the beneficiaries in the form of bogus long term capital gains (which

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

capital gain to defraud the Revenue. The Ld. Sr. DR also pointed out that the holding period of scrip is only 22 months. The Ld. Sr. DR, therefore relied on the findings of the assessing officer and further relied on the following judgments: (i) Shri Mukesh M. Trivedi vs DCIT, ITA No.1955/Mum/2022, dated 07.02.2023 Page 8 of 14 Kaushaliya Sampatlal

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)

32,516 addition made of 15 9.32.5106 ultimately made on total sale value of rs 1,42.333. While doing so the ld. A.O. though assessed income as capital gain and there after applied provisions of section

SAMEER SHAH (HUF),1 "SWAPNEEL" ,OPP. GURUDATATREY TEMPLE PALACE ROAD vs. INCOME TAX OFFICER, WARD 1(3), JAMNAGAR, GUJARAT

In the result, appeal filed by the assessee is allowed

Bench: Dr. Arjun Lal Saini. आयकरअपीलसं./Ita No.248/Rjt/2025 "नधा"रणवष" / Assessment Year: (2013-14) (Hybrid Hearing) Sameer Shah (Huf), Vs. The Ito Ward 1(3), 1 “Swapneel”, Opp. Jamnagar - 361001 Gurudatatrey Temple, Palace Road, Jamnagar - 361008 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aawhs3749E (Appellant) (Respondent)

capital gain, in respect of a script of Tuni Textile, has been discussed and adjudicated in favour of assessee. Learned Counsel for the assessee submitted Sameer Shah HUF, that the present appeal is squarely covered by the aforesaid order of the Tribunal, a copy of which was also placed before the Bench. 5. Learned Departmental Representative nevertheless relied upon

SHRI TULSHIBHAI POLABHAI SAKARIYA,RAJKOT vs. THE PR. CIT-1, RAJKOT, RAJKOT

In the result, appeal filed by assessee is allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकरअपीलसं./Ita No. 93/Rjt/2021 िनधा"रणवष" िनधा"रणवष"/Asstt. Year:2015-16 िनधा"रणवष" िनधा"रणवष" Shri Tulsibhai Polabhai Sakariya Vs. The Pr. C.I.T, 2-Bombay Housing Society, Rajkot-1, Meghdhara, University Road, Rajkot. Opp. G. K. Dholakiya, Rajkot

32,566/-, we herewith attached Calculation of this capital gain in Computation of Income for A Y 2015-16, Sale Deed of Agriculture land and Valuation Report of valuer for values as on 01/04.1981. 4. We herewith attached copy of Copy of Bank statement for the period 01/04/2014 to 31/03.2015 of all banks. 5. We have purchase

SEABIRD MARINE SERVICES PRIVATE LIMITED,JAMNAGAR vs. ACIT, CIRCLE - 1, JAMNAGAR, JAMANGAR

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No. 83/Rjt/2025 (निर्धारण वर्ष/Assessment Year: (2017-18) Seabird Marine Services Pvt. Vs. Ltd. Office No. 309 & 310, Centroid Luxuria, Nr. Crystal Mall, Khodiyar Colony, Aerodrome Road, Jamnagar 361006 Assistant Commissioner Of Income-Tax, Circle-1, Jamnagar, Aayakar Bhawan, Nr. Subhash Bridge, Jamnagar -Rajkot Highway, Jamnagar स्थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaccs 9869 C (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Appellant By : Shri S. N. Soparkar, Ld. Ar Respondent By : Shri Sanjay Punglia, Ld. Cit-Dr Date Of Hearing : 30/04/2025 Date Of Pronouncement : 30/05/2025 Per Dr. A. L. Saini, Am: आदेश / Order Captioned Appeal Filed By The Assessee, Pertaining To Assessment Year 2017-18, Is Directed Against The Order Passed By The National Faceless Appeal Centre (Nfac), Dehi/ Commissioner Of Income Tax (Appeal) [In Short 'Ld. Cit(A)'], Dated 02.01.2025, Which In Turn Arises Out Of An Assessment Order Passed By The Assessing Officer, Under Section 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As “The Act”), Vide Order Dated 31.12.2019. 2. Grounds Of Appeal Raised By The Assessee Are As Follows: “All The Below Mentioned Grounds Of Appeal Are Independent & Without Prejudices To Each Other.

gain should have been shown irrespective of treatment in book of account. Therefore, ld CIT(A), based on these facts, confirmed the addition made by the assessing officer. 10. Shri S. N. Soparkar, Ld. Senior Counsel for the assessee, pleaded on behalf of assessee that there was reduction in the capital and the assesssee has “written off" the investments

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.

32 to 68). It is further submitted that the provisions of Section 54F does not lay any relevance on the date of permission given by the local authority and the date of expenses start well before the permission of the local authority is granted and stretch well beyond the formal completion letter is granted for the residential house. The requirements

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.

32 to 68). It is further submitted that the provisions of Section 54F does not lay any relevance on the date of permission given by the local authority and the date of expenses start well before the permission of the local authority is granted and stretch well beyond the formal completion letter is granted for the residential house. The requirements