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)

gain and income from other sources. Besides during the year, assessee received 25% share in enhanced compensation, totalling to Rs. 2,69,41,878/-, on compulsory acquisition of ancestral agricultural land of his family. The above compensation of Rs. 2,69,41,878/- was inclusive of interest of Rs. 1,89,62,258/-, granted u/s. 28 of the Land Acquisition

SHRI RAJKOT DISTRICT COOPERATIVE BANK LTD.,,RAJKOT-GUJARAT vs. THE PR. COMMR. OF INCOME TAX-1,, RAJKOT-GUJARAT

In the result, appeal of the assessee is dismissed

Bench: Smt.Annapurna Gupta & Shri T.R. Senthil Kumarassessment Year :2011-12 Shri Rajkot District Cooperative Vs. Pr.Cit, Rajkot-1 Bank Ltd. Rajkot. ‘Jilla Bank Bhavan’, Kasturba Road Opp: Chaudhari High School Rajkot. Pan : Aaaar 0564 K 0 अपीलाथ"/ (Appellant) "" यथ"/(Respondent) Assesseeby : Shri S.N. Soparkar, Ld.Ar Revenue By : Shri Shramdeep Sinha, Ld.Cit-Dr सुनवाई क" तार"ख/Date Of Hearing : 17/11/2022 घोषणा क" तार"ख /Date Of Pronouncement: 15/02/2023

capital, had been explained by the assessee or not, was left unexamined. It was held that it is a case where prejudice is writ large. 15. It is not necessary for us to multiply the precedents for the simple reason that the assessment order does not contain the necessary discussion with regard to the various aspects of the case indicated

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)

gains or under any other head of income. Taking the rationale of the High Court of Gujrat in the case of Movaliva Bhikhubhai Balabhai v. ITO CA No.17944 of 2015, order dated 31.03.2016, wherein it was held that interest on compensation/enhanced compensation under section 28 of the Land Acquisition Act, 1894 forms part of compensation/consideration and not interest as contemplated

THE DCIT, (INTL. TAXN.), RAJKOT vs. M/S. KOREA SOUTH EAST POWER CO. LTD., MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Smt. Annapurna Gupta & Shri T.R. Senthil Kumar(Conducted Through Virtual Court) Assessment Year: 2011-12 The Dcit (Intl. Taxn.) M/S.Korea South East Power Amruta Estate Co.Ltd. Room No.312 Mg Road बनाम/ C/O. P.V. Page & Co., Girnar Cinema 201, Sardar Griha, 198 L.T. Marg Vs. Rajkot Mumbai – 400 002 (Appellant) (Respondent) Pan: Pan : Ahvps 3555Q Assessee By None Revenue By Shri Ashish Kumar Pandey, Sr.Dr Date Of Hearing 25/09/2023 Date Of Pronouncement 15/12/2023

capital gains' but Assessing Officer chose to tax same under head other sources, penalty levied under section 271(1)(c) was to be cancelled." CIT v. Auric Investment & Securities Ltd. [2007] 163 Taxman 533 (Delhi): "Section 271(1)(c) of the Income-tax Act, 1961- Penalty For concealment of income - Assessment year 2001-02-Assessee had declared its income from

MISS PARI ANIL GANDHI, RAJKOT,RAJKOT vs. THE PR. CIT-1, RAJKOT, RAJKOT

section 68 of the Act, total income was assessed at Rs.\n5,21,964/-.\n3.2 In appeal by the assessee before the Commissioner of Income-tax\n(Appeals), the issue was re-examined. According to the appellate authority the\nappellant assessee had furnished evidence to show that the shares were\nbrought as genuine investment which was long back

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

37,55,020/-. The then CIT (A)-IV, Rajkot vide order dtd. 13-09-2012 has confirmed the addition of Rs. 36,34,125/- on account of capita! gain on sale of plot of land. However, he allowed deduction of Rs. 19,30,320/- in the short term capital gain as cost of improvement being amount of premium paid

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

section 68 of the Act, total income was assessed at Rs.\n5,21,964/-\n3.2 In appeal by the assessee before the Commissioner of Income-tax\n(Appeals), the issue was re-examined. According to the appellate authority the\nappellant assessee had furnished evidence to show that the shares were\nbrought as genuine investment which was long back

SHRI RAJKOT DISTRICT CO-OP. BANK LTD. RAJKOT,RAJKOT vs. THE PR. CIT-1, RAJKOT, RAJKOT

The appeal of the assessee is allowed

Bench: us, the error noted in the assessment order passed in the case of the assessee under Section 143(3) of the Act for the impugned year i.e. AY 2017-18 was that the assessee’s claim of deduction for creation of special reserve from the profit of “eligible business” as per Section 36(1)(viii) of the Act had been allowed in excess by the Assessing Officer without properly examining the calculation of the claim submitted by the assessee.

gains of business or profession" amounted to Rs. 4,94,94,107only, thelater being lower of the two has been claimed as deduction. Details of appropriation of profit for the F.Y.2016-17is enclosed and computation of segment-wise profit is attached at PP-14-20. 11 Shri Rajkot Dist Coop Bank Ltd Vs. PCIT We have computed the profit

SAURASHTRA GRAMIN BANK MANAGER (F & A), RAJKOT,RAJKOT vs. THE PR. COMMISSIONER OF INCOME TAX-I,, 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. 37/Rjt/2022 (Assessment Year: 2017-18) (Hybrid Hearing) Saurashtra Gramin Bank Vs. The Pr. Cit-1, Manager (F & A), Rajkot 1St Floor Wing 2, Lic Jeevan Prakash Building, Tagore Road, Rajkot-360001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aahas2116H (अपीलाथ"/Appellant) (""यथ"/Respondent)

capital and Reserve Fund of Rs. 195 crore. So, the proposed disallowance is not justifiable. 7. In view of the grounds mentioned as above your Appellant requests your Honour to appreciate the fact that re-opening of the assessment as above is completely erroneous and disregard with the Act, and order under section 263 is required to be quashed

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

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

1,14,00,000/-. This has been worked\nout as capital gain. The assessee has shown purchase of another house property\n2\nITA No. 422/Ahd/2024 A.Y. 2015-16\nDushyant Bharatbhai Metha Vs. ITO\nfor a sum of Rs. 73,27,000/-. Out of this, 50% was shown purchase of his\nbrother Shri Paras Mehta, without executing any transfer deed

SHRI BABUBHAI NARANBHAI SAKHIYA,,RAJKOT-GUJARAT vs. THE PR. COMMR. OF INCOME TAX-1,, RAJKOT-GUJARAT

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

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Gain of Rs.39,37,435/- arising on conversion of capital asset into stock in trade and deduction claimed u/s. 54B of the Act though all the requisite details were furnished at the time of assessment proceedings and verified by the AO. I.T.A No. 144/Rjt/2016 A.Y. 2011-12 Page No 7 Shri Babubhai Naranbhai Sakhiya. Vs. PCIT

DCIT, CENTRAL CIRCLE 1, RAJKOT vs. LAJVANTIBEN RAJABHAI HINDUJA, RAJKOT

section\n142(1) of the Act, the assessee had furnished the copy of acknowledgement for\nRs.30,00,000/-, on stamp paper of Rs.100 dated 15.04.2009. The assessee has\ncontended that she had agreed to sale the said land for Rs.30,00,000/- and\nreceived the money by cheques. However, due to the pending litigation under\nsection 37

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

ASSTT. COMMR. OF INCOME TAX, CEN. CIR-1,, RAJKOT vs. RAJESHKUMAR GOVINDBHAI PATEL,, RAJKOT

In the result both the appeals filed by the Revenue and the Cross Objections filed by the assessee are hereby dismissed

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Capital Gains and also Income from Other Sources. For the asst year 2006-07 the assessee filed his Return of Income on 31-07-2006 admitting total income of Rs.4,17,050/=. The return was processed under section 143[1] dated 06-12-2006 and refund was issued to the assessee. Thus there was no regular assessment u/s.143

ASSTT. COMMR. OF INCOME TAX, CEN. CIR-1,, RAJKOT vs. RAJESHKUMAR GOVINDBHAI PATEL,, RAJKOT

In the result both the appeals filed by the Revenue and the Cross Objections filed by the assessee are hereby dismissed

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Capital Gains and also Income from Other Sources. For the asst year 2006-07 the assessee filed his Return of Income on 31-07-2006 admitting total income of Rs.4,17,050/=. The return was processed under section 143[1] dated 06-12-2006 and refund was issued to the assessee. Thus there was no regular assessment u/s.143

SHRI SHASHIKANT BHAGVANJIBHAI RAJPARA,RAJKOT vs. THE PR. CIT-1, RAJKOT, RAJKOT

In the result, the appeal of the assessee is allowed

Bench: Smt.Annapurna Gupta & Shri T.R. Senthil Kumarassessment Year :2017-18 Shashikant Bhavajjibhai Rajpara Vs. The Pr.Cit-1 409, Aadarsh Plaza, Rajkot. 150 Ft. Ring Road Rajkot. Pan : Abipr 9935 Q अपीलाथ"/ (Appellant) "" यथ"/(Respondent) Assessee By : Shri D.M. Rindani, Ld.Ar Revenue By : Shri Shramdeep Sinha, Ld.Cit(Dr) सुनवाई क" तार"ख/Date Of Hearing : 13/03/2023 घोषणा क" तार"ख /Date Of Pronouncement: 22/03/2023 आदेश/O R D E R Per Annapurna Guptapresent Appeal Has Been Filed By The Assessee Against Order Passed By The Ld.Pr.Commissioner Of Income Tax-I, Rajkot [Hereinafter Referred To As “Ld.Pr.Cit Under Section 263 Of The Income Tax Act, 1961 ("The Act" For Short) Dated 7.2.2022 Pertaining To The Asst.Year2017-18. 2. The Grounds Raised By The Assessee In Appeal Are As Under: “1. The Learned Principal Commissioner Of Income-Tax - Rajkot -1, Rajkot Erred In Assuming Jurisdiction U/S 263 Of The Act, Particularly In The Light Of Reasons Stated By Him In The Show Cause Notice & In The Order Passed U/S 263 Of The Act & Hence The Impugned Order Is Bad In Law. 2. The Learned Principal Commissioner Of Income-Tax, Rajkot - 1, Rajkot Erred In Setting Aside The Assessment Order Framed U/S 143(3)Of The Act By Holding That The Ao Has Not Properly Examined The Facts Of The Case In 2

37 (1) Any expenditure (not being expenditure of the nature described in sections 30 to 36 and not being in the nature of capital expenditure or personal expenses of the assessee), laid out or expended wholly and exclusively for the purposes of the business or profession shall be allowed in computing the income chargeable under the head "Profits and gains

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)

1) of the Income Tax Act, 1961 (the Act) on 27.07.2013 declaring total income of Rs. 3,31,950/-. The Long term capital gain on sale of security of Rs. 5,26,730/- was reported as exempt u/s. 10(38) of the Act. In response to notice u/s. 148 of the Act, Return of Income was filed on 28.04.2021, declaring

BABUBHAI KANJIBHAI SAKARIYA LEGAL HEIR OF LATE SMT. UJIBEN KANJIBHAI SAKARIYA,JETPUR vs. ITO WARD 1(2)(1), RAJKOT, RAJKOT

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

section 68 of the Act, total income was assessed\nat Rs. 5,21,964/-.\n3.2 In appeal by the assessee before the Commissioner of Income-tax\n(Appeals), the issue was re-examined. According to the appellate authority\nthe assessee assessee had furnished evidence to show that the shares were\nbrought as genuine investment which was long back