SMT. JANKI KISHAN HINGORANI,RAJKOT vs. THE PR. CIT-1, RAJKOT, RAJKOT

In the result, the appeal of the Assessee is dismissed

Bench: Smt. Annapurna Gupta & Shri T.R. Senthil Kumar(Conducted Through Virtual Court) Assessment Year: 2015-16 Smt.Janki Kishan Hingorani The Pr.Cit 6/7, Subham Complex Rajkot-1 Royal Park, University Road बनाम/ Rajkot Rajkot – 380 006 Vs. Gujarat (Appellant ) ( Respondent ) Pan: Pan : Aahph 4774M Assessee By Ms.Amrin Pathan, Ld.Ar Revenue By Shri Shramdeep Sinha, Ld.Cit(Dr) Date Of Hearing 06/12/2023 Date Of Pronouncement 15/12/2023

section (1) shall be deemed to be income chargeable under the head "Capital gains" relating to long-term capital assets of the previous year in which such new asset is transferred. (4

THE ASSTT. COMMR. INCOME TAX, CEN. CIRCLE-2,, RAJKOT-GUJARAT vs. M/S BACKBONE ENTERPRISES LTD.,, RAJKOT-GUJARAT

In the result, appeal of the assessee is dismissed

gains from industrial undertakings or enterprises engaged in infrastructure development, etc. 80-IA. 4) This section applies to— (i) any enterprise carrying on the business of (i) developing or (ii) operating and maintaining or (iii) developing, operating and maintaining any infrastructure facility which fulfils all the following conditions, namely :— (a) it is owned by a company registered in India

BACKBONE ENTERPRISE LTD.,,RAJKOT-GUJARAT vs. THE DY. COMMR. INCOME TAX, CEN. CIRCLE-II,, RAJKOT-GUJARAT

In the result, appeal of the assessee is dismissed

gains from industrial undertakings or enterprises engaged in infrastructure development, etc. 80-IA. 4) This section applies to— (i) any enterprise carrying on the business of (i) developing or (ii) operating and maintaining or (iii) developing, operating and maintaining any infrastructure facility which fulfils all the following conditions, namely :— (a) it is owned by a company registered in India

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

gains or under any other head of income. In connection with reference invited to section 56(2)(viii) r.w.s. 145B(1) of the Act, by you, for chargeability of the interest income under the said section, I would like to state that interest as stipulated under the provisions of section 56(2)(viii) of the Income

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

gains of the assessee’s business. • to the provisions of section 33AC, 80HHB(4), 80HHD(5)(a) and 10AA(3) pointing out that all these provisions specifically provided for taxing the amounts credited to the reserve created,as provided under the relevant sections, on non- utilization of the said reserves for the specified purposes. 5 8. The ld.counsel

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

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

ANANDKUMAR MANSUKHLAL PATEL,RAJKOT vs. INCOME TAX OFFICER, WARD-3 (1) (2),, RAJKOT

In the result appeal of the assessee is hereby allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No. 190/Rjt/2022 िनधा"रण वष"/Asstt. Years: 2007-2008 Shri Anandkumar Mansukhlal Income Tax Officer, Changela, Vs. Ward-3(1)(2), Rajkot. C/O. M/S. Anand Agencies, Dhebar Road, Opp. Mehta Petrol Pump, Rajkot-360001. Pan: Acgpp8605G

4 Lakh only and offered capital gain on the same. However due to legal fiction created under section 50C of the Act, additional capital gain was worked out by the AO. The assessee, accordingly, contended that no penalty under section 271(1

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

section 68 of the Act. In view of the above, we do not find any infirmity in the order of Ld. CIT (A). 23.8 Once the addition made by the AO has been treated by us, holding the loan transaction and share application transaction between the assessee and M/s RNG Finlease Pvt. Ltd, as genuine, the corresponding addition made

RADHE RENEWABLE ENERGY DEVELOPMENT PVT LTD,RAJKOT vs. THE PCIT, RAJKOT-1, RAJKOT, RAJKOT

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

section 68 of the Act. In view of the above, we do not find any infirmity in the order of Ld. CIT (A). 23.8 Once the addition made by the AO has been treated by us, holding the loan transaction and share application transaction between the assessee and M/s RNG Finlease Pvt. Ltd, as genuine, the corresponding addition made

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

section 68 of the Act. In view of the above, we do not find any infirmity in the order of Ld. CIT (A). 23.8 Once the addition made by the AO has been treated by us, holding the loan transaction and share application transaction between the assessee and M/s RNG Finlease Pvt. Ltd, as genuine, the corresponding addition made

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

section 68 of the Act. In view of the above, we do not find any infirmity in the order of Ld. CIT (A). 23.8 Once the addition made by the AO has been treated by us, holding the loan transaction and share application transaction between the assessee and M/s RNG Finlease Pvt. Ltd, as genuine, the corresponding addition made

M/S FLAMINGO HOTELS PVT. LTD.,,RAJKOT-GUJARAT vs. THE INCOME TAX OFFICER, WARD-1, GANDHIDHAM., GANDHIDHAM

In the result, the appeal of the assessee is dismissed with the above directions

Bench: Smt.Annapurna Gupta & Ms.Suchitra Raghunath Kambleassessment Year : 2010-11 M/S.Flamingo Hotels P.Ltd. Ito, Ward-1 Plot No.416 Gandhidham. Ward-2B Adipur-Kutch.

4 Neelamalai Agro Industries Ltd. Vs. CIT, 259 ITR 651, had categorically stated that decision of the Hon’ble Apex Court in the case of CIT Vs. Grace Collis (supra) was rendered in different set of facts and had not dealt on the issue of extinguishment of rights in assets particularly on destruction. Hon’ble Madras High Court held that

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

gains of specified entities , being foreign companies engaged in the business of Civil Construction in certain key power projects, @ 10% of their gross receipts. Accordingly, the assessee, finding itself eligible u/s 44BBB of the Act, had returned 10% of its gross receipts, amounting to Rs.44,31,125/-, for taxation in the revised return filed. During assessment proceedings, the Assessing Officer

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

section 143(3) of\nthe Act, dated 26/12/2017, for revision u/s 263 of the Income tax Act.In\nresponse to the said notice, the assessee made written submissions on\n13/03/2019. The gist of the assessee`s submission is as under:\n“1. With respect to the claim of exempt Capital Gain, the assessee has contended that\nit is not necessary that

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

1,2,4,6,7 and 9 are dismissed.” 4. Before us, the assessee filed written submissions in which several grounds were submitted both challenging the legality of the present proceedings and also the levy of penalty looking into the facts of the instant case. The assessee’s contention is that the land sold by him was beyond distance

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

section 143(3) of\nthe Act, dated 26/12/2017, for revision u/s 263 of the Income tax Act.In\nresponse to the said notice, the assessee made written submissions on\n13/03/2019. The gist of the assessee`s submission is as under:\n“1. With respect to the claim of exempt Capital Gain, the assessee has contended that\nit is not necessary that

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

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

capital gain through penny stock. 4. Looking to the above facts, this office has verified the facts with the ITR filed and it is found that you have claimed LTCG of Rs.8,90,894/- under Schedule El under the head of details of exempt income. Assessment u/s.147 of the Act was made and the assessment was finalized accepting returned income