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

9. On merit, Ld. Counsel for the assessee submitted that assessee has claimed the Long- Term Capital Gain (in short “LTCG”) and entire details ITA Nos.779&780/RJT/2024/AYs.2011-12&2016-17 Bhikhalal Prahladrai Agarwal-HUF were submitted which are in the Paper Book at Page No. 3, -16. The Ld. Counsel also explained that the transactions were through banking channel

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

9. On merit, Ld. Counsel for the assessee submitted that assessee has claimed the Long- Term Capital Gain (in short “LTCG”) and entire details ITA Nos.779&780/RJT/2024/AYs.2011-12&2016-17 Bhikhalal Prahladrai Agarwal-HUF were submitted which are in the Paper Book at Page No. 3, -16. The Ld. Counsel also explained that the transactions were through banking channel

RADHIKA JEWELLERS,RAJKOT vs. DY.CIT 2 (1), RAJKOT

In the result, appeal filed by the assessee is allowed

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

section 45(3) of the Act are clearly applicable to the assessee, and therefore, assessing officer held that capital gain of Rs.2,95,09,518/- is chargeable to tax. Hence, addition of the capital gain of Rs.2,95,09,518/- was added in the hands of (Shri Ashok Kumar M Zinzuwadia Proprietor of said concern) on substantive basis

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

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

section 263 of the Income-tax Act, 1961. The ld.PCIT, as per the information, Director of Investigation, Kolkata conducted inquiries which unearthed some big syndicates involved in providing accommodation entries of long term capital gains and a total of 84 BSE listed penny stocks were identified. Thereafter, search and survey actions were Mansukhlal khimji and others v. PCIT ITA No.3

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

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

section 263 of the Income-tax Act, 1961. The ld.PCIT, as per the information, Director of Investigation, Kolkata conducted inquiries which unearthed some big syndicates involved in providing accommodation entries of long term capital gains and a total of 84 BSE listed penny stocks were identified. Thereafter, search and survey actions were Mansukhlal khimji and others v. PCIT ITA No.3

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

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

section 263 of the Income-tax Act, 1961. The ld.PCIT, as per the information, Director of Investigation, Kolkata conducted inquiries which unearthed some big syndicates involved in providing accommodation entries of long term capital gains and a total of 84 BSE listed penny stocks were identified. Thereafter, search and survey actions were Mansukhlal khimji and others v. PCIT ITA No.3

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

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

section 263 of the Income-tax Act, 1961. The ld.PCIT, as per the information, Director of Investigation, Kolkata conducted inquiries which unearthed some big syndicates involved in providing accommodation entries of long term capital gains and a total of 84 BSE listed penny stocks were identified. Thereafter, search and survey actions were Mansukhlal khimji and others v. PCIT ITA No.3

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

9. The appellant craves leave to add / alter / amend and / or substitute any or all grounds of appeal before the actual hearing take place.” Kanjibhai Bhimjibhai Rangani vs. ITO Asst.Year –2007-08 3. The brief facts of the case are that the assessee filed return of income showing total income of Rs. 1,20, 890/- and agricultural income

NISHANT PAREKH- LEGAL HEIR OF MINA PAREKH,JAMNAGAR vs. INCOME TAX OFFICER, WARD-1(3), JAMNAGAR

In the result, the appeal of the assessee is allowed

Bench: Dr. Arjun Lal Saini. आयकरअपीलसं./Ita No.215/Rjt/2025 "नधा"रणवष" / Assessment Year: (2015-2016) Nishant Parekh – Legal Heir Of Vs. Income Tax Officer Mina Parekh Aaykar Bhavan 322 Madhav Square, Opp 361001, Gujrat Avantika Complex, Limda Lane Road, Gujrat-361001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aanpp9471F (Appellant) (Respondent)

Capital Gain u/s 10(38) to the tune of Rs.3,12,35,919 was disallowed and accordingly total sale proceeds of Rs.3,28,81,890/- from the sale of scrips of 'PS IT Infrastructure &Services Ltd (Formerly known as Parag Shilpa Investments Ltd) was assessed as unexplained cash credit u/s 68 of the I.T. Act and to be taxable

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

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

9,50,000/-, under the\nhead “profits and gain of business and profession”. The assessee has offered tax\nin both the heads, that is, “profits and gain of business and profession\" and\n\"Capital Gains”. Therefore, the assessee has did the right treatment in the books\nof accounts, so far capital gain and business income is concerned. Therefore,\nno addition

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)

9,32,516 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)

9. The order passed by the Ld. FAO as well as order passed by National Faceless Appeal Centre under Section 250 is bad in law as well as on facts by upholding the addition originally made by merely relying on concept of PREPONDERANCE OF PROBABILITY and the judgements based on the same. In such a manner, every gain earned

URVASHI GIRISHBHAI LAL,RAJKOT vs. ITO WD 1(2)(1), RAJKOT, RAJKOT

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

Bench: Dr. Arjun Lal Saini

Section 147 of the Act, that is, reassessment was dropped by the assessing officer. In this regard, the detailed submission made by the assessee and the arguments made before the Ld. CIT(A), are reproduced below: “Simply relying upon the general modus operandi does not mean that all the transactions undertaken throughout the country by millions of subscribers are bogus

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

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

AMIBEN RAJESHKUMAR PUNATAR,RAJKOT vs. ITO, WARD-1(2)(1), RAJKOT, RAJKOT

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

Bench: Dr. Arjun Lal Sainiआयकरअपील सं. /Ita No.24/Rjt/2026 िनधा"रण वष"/Assessment Year : 2015-16 Amiben Rajeshkumar Punatar, बनाम/ Ito, Ashish, 41-New Jagnath Plot, Vs Ward – 1(2)(1), Rajkot – 360001(Gujarat) Rajkot "ायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahrpp4181F (अपीलाथ"/Assessee) (""थ"/Respondent)

capital gain and framed the assessment order under section 143(3) of the Act. Hence, there is no any new tangible material with the assessing officer to reopen the concluded assessment after four years. Besides, there is no failure on the part of the assessee to disclose fully and truly all material facts during the regular assessment under section

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)

9. The entire amount of the so called receipt of share sales could well also be treated as unexplained credit u/s 68 of the I.T. Act as it has all the ingredients of attracting the rigours of the said section. Section 68 of the I.T. Act provides that where any sum is found credited in the books of the assessee

SHRI VASANTRAI PURSOTAM KACHALIA,RAJKOT vs. THE ITO WARD 2 (1) (1), RAJKOT

In the result, appeal filed by the assessee is partly allowed in above terms

Bench: Dr. Arjun Lal Sainiआयकरअपील सं. /Ita No.811/Rjt/2025 िनधा"रण वष"/Assessment Year : 2016-17 बनाम/ Vasantrai Pursotam Ito Ward 2(1)(1), Rajkot Vs Kachalia (Original - Ito Ward 2(1)(5), Rajkot) 210-Shrinathji Complex, Aaykar Bhavan, Race Course Road, Canal Road, Rajkot. Rajkot 360001 Rajkot 360002, Gujarat India "ायीलेखासं./जीआइआरसं./Pan/Gir No.: Adspk1354Q (अपीलाथ"/Assessee) (""थ"/Respondent)

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) (‘CIT(A)’), dated 04.11.2025, which in turn arises out of an assessment order passed by Assessing Officer u/s. 143(3) of the Act, on 23.11.2018. Vasantrai Pursotam Kachalia 2. Although, this appeal filed