ACIT, CIR-1(1), RAJKOT, RAJKOT vs. SHRI RAJKOT DISTRICT CO OPERATIVE BANK LTD, RAJKOT

The appeal of the revenue is dismissed

Bench: Dr. Arjun Lal Saini. & Shri Dinesh Mohan Sinhaआयकरअपीलसं./Ita No.188/Rjt/2024 िनधा"रणवष"/ Assessment Year: (2015-16) (Hybrid Hearing) Assistant Commissioner Of Income- Vs. Rajkot District Co-Operative Bank Tax, Circle-1 (1), Rajkot Limited Room No.502, Aayakar Bhawan, Jilla Bankbhavan, Kasturba Road, Race Course Ring Road, Rajkot- Opp: Chaudhary High School, 360001 Rajkot 360001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaaar0564K (Appellant) (Respondent) Appellant By : Shri D. M. Rindani, Ld. Ar Respondent By : Shri Abhimanyu Singh Yadav, Ld.Sr.Dr : 09/06 /2025 Date Of Hearing Date Of Pronouncement : 05/08 /2025

depreciation could be misused for fund diversion, thereby affecting tax assessments. The ruling makes it clear that unless there is a clear record of how funds have been utilized, there exists a possibility of funds being employed for purposes unauthorized by the Act. The same principle applies to the present case, where the absence of clear notes in the accounts

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)

depreciation on investment, however, the nature of deduction is notional in nature and not allowable as an expense as per the provision of the Act. Accordingly, the same should have been disallowed u/s 37(1) of Income Tax Act, and to be added to the total income of the assessee- bank, by the assessing officer, while finalizing the assessment

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

In the result, summarised and concise ground No

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./ Ita No. 247 To 250 & 260/Rjt/2024 "नधा"रण वष"/ Assessment Years: 2012-13, 2013-14, 2017-18 2018-19 & 2010-11 Bhawani Industries India Llp Assistant Commissioner Of बनाम/ Income-Tax, Cicle-2(1), Rajkot, C/1-B, 236/3 Gidc, Aji Industrial Room No.311, 3Rd Floor, Aaykar Estate, Rajkot-36 003 Vs. Bhawan, Race Course Ring Road, Rajkot-360 001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacfb 8046 R (अपीलाथ"/Assessee) (""यथ"/Respondent) आयकर अपील सं/.Ita No.254 To 256/Rjt/2024 "नधा"रण वष"/ Assessment Years: 2010-11, 2012-13 & 2013-14 Bhawani Industries India Llp Assistant Commissioner Of Income- C/1-B, 236/3 Gidc, Aji बनाम/ Tax, Cicle-2(1), Rajkot, Room No.311, Industrial Estate, Rajkot-36 3Rd Floor, Aaykar Bhawan, Race Vs. 003 Course Ring Road, Rajkot-360 001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacfb 8046 R (अपीलाथ"/Assessee) (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee By : Shri Mehul Ranpura, Ld.Ar राज"व क" ओर से/Revenue By : Shri Sanjay Punglia, Ld. Cit-Dr & Shri Abhimanyu Singh Yadav, Sr-Dr

exemption, subsidy, and many other government benefit and incentive. Hence, Tata Motors is saving approx. 25-30% manufacturing cost at Rudrapur compared with their manufacturing units situated at other parts of India. Hence, Tata Motors has invited their parts suppliers like assessee -firm and many others to manufacture their parts at Rudrapur and to supply them at Rudrapur

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

In the result, summarised and concise ground No

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./ Ita No. 247 To 250 & 260/Rjt/2024 "नधा"रण वष"/ Assessment Years: 2012-13, 2013-14, 2017-18 2018-19 & 2010-11 Bhawani Industries India Llp Assistant Commissioner Of बनाम/ Income-Tax, Cicle-2(1), Rajkot, C/1-B, 236/3 Gidc, Aji Industrial Room No.311, 3Rd Floor, Aaykar Estate, Rajkot-36 003 Vs. Bhawan, Race Course Ring Road, Rajkot-360 001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacfb 8046 R (अपीलाथ"/Assessee) (""यथ"/Respondent) आयकर अपील सं/.Ita No.254 To 256/Rjt/2024 "नधा"रण वष"/ Assessment Years: 2010-11, 2012-13 & 2013-14 Bhawani Industries India Llp Assistant Commissioner Of Income- C/1-B, 236/3 Gidc, Aji बनाम/ Tax, Cicle-2(1), Rajkot, Room No.311, Industrial Estate, Rajkot-36 3Rd Floor, Aaykar Bhawan, Race Vs. 003 Course Ring Road, Rajkot-360 001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacfb 8046 R (अपीलाथ"/Assessee) (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee By : Shri Mehul Ranpura, Ld.Ar राज"व क" ओर से/Revenue By : Shri Sanjay Punglia, Ld. Cit-Dr & Shri Abhimanyu Singh Yadav, Sr-Dr

exemption, subsidy, and many other government benefit and incentive. Hence, Tata Motors is saving approx. 25-30% manufacturing cost at Rudrapur compared with their manufacturing units situated at other parts of India. Hence, Tata Motors has invited their parts suppliers like assessee -firm and many others to manufacture their parts at Rudrapur and to supply them at Rudrapur

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

exemption, subsidy, and\nmany other government benefit and incentive. Hence, Tata Motors is saving\napprox. 25-30% manufacturing cost at Rudrapur compared with their\nmanufacturing units situated at other parts of India. Hence, Tata Motors has\ninvited their parts suppliers like assessee -firm and many others to manufacture\ntheir parts at Rudrapur and to supply them at Rudrapur

SAURASHTA CEMENT LTD.,,PORBANDAR vs. THE JOINT COMMISSIONER OF INCOME TAX, RANGE-2,, JAMNAGAR

In the result, appeal filed by the Revenue is dismissed and appeal filed by the Assessee is partly allowed

Bench: Ms. Suchitra Kamble & Shri Waseem Ahmedassessment Year: 2010-11

depreciation was in respect of new Plant & Machinery viz. Fly Ash Handling System, Air Compressor, 36KV Power Control Panels, X-ray Spectrometer Analyser etc. which was allowable to the assessee. Thus, the CIT(A) was right in deleting the same. Ground no.5 of Revenue’s appeal is dismissed. A.Ys. 2010-11 21. As regards to ground no.6

THE ACIT, CIRCLE-2,, JAMNAGAR vs. SAURASHTRA CEMENT LTD.,, PORBANDAR

In the result, appeal filed by the Revenue is dismissed and appeal filed by the Assessee is partly allowed

Bench: Ms. Suchitra Kamble & Shri Waseem Ahmedassessment Year: 2010-11

depreciation was in respect of new Plant & Machinery viz. Fly Ash Handling System, Air Compressor, 36KV Power Control Panels, X-ray Spectrometer Analyser etc. which was allowable to the assessee. Thus, the CIT(A) was right in deleting the same. Ground no.5 of Revenue’s appeal is dismissed. A.Ys. 2010-11 21. As regards to ground no.6

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

exemption, subsidy, and\nmany other government benefit and incentive. Hence, Tata Motors is saving\napprox. 25-30% manufacturing cost at Rudrapur compared with their\nmanufacturing units situated at other parts of India. Hence, Tata Motors has\ninvited their parts suppliers like assessee -firm and many others to manufacture\ntheir parts at Rudrapur and to supply them at Rudrapur

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

In the result, summarised and concise ground No

exempt u/s 80HHC of the I. T. Act, 1961. The partner in\ntheir return of income has not included interest received from the above firm from their\ncapital invested in the firm. The Assessing Officer has taxed the above interest on the ground\nthat the benefit of exemption from tax under section 80HHC, which once been extended to the\npartnership

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

exempt u/s 80HHC of the I. T. Act, 1961. The partner in\ntheir return of income has not included interest received from the above firm from their\ncapital invested in the firm. The Assessing Officer has taxed the above interest on the ground\nthat the benefit of exemption from tax under section 80HHC, which once been extended to the\npartnership

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

exempt u/s 80HHC of the I. T. Act, 1961. The partner in\ntheir return of income has not included interest received from the above firm from their\ncapital invested in the firm. The Assessing Officer has taxed the above interest on the ground\nthat the benefit of exemption from tax under section 80HHC, which once been extended to the\npartnership

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

exempt u/s 80HHC of the I. T. Act, 1961. The partner in\ntheir return of income has not included interest received from the above firm from their\ncapital invested in the firm. The Assessing Officer has taxed the above interest on the ground\nthat the benefit of exemption from tax under section 80HHC, which once been extended to the\npartnership

M/S SHREE RAJMOTI INDS.,,RAJKOT-GUJARAT vs. THE A. C.I.T., CIRCLE-2(1),, RAJKOT-GUJARAT

In the result, the appeal filed by the Assessee is hereby allowed

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

exempt income is not merely a case of legal claim not have been sustainable under law but case of misrepresentation of facts and furnishing incorrect particulars of income. The action of Assessing Officer therefore calls for no interference. The Penalty is confirmed. The ground of appeal is dismissed.” 5. Aggrieved against the same, the assessee is in appeal before

SAMANVYA EDUCATION & CHARITABLE TRUST,DHORAJI, DIST. RAJKOT vs. THE INCOME TAX OFFICER(EXEMPTION)-1, RAJKOT, RAJKOT

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकरअपीलसं./Ita No. 16/Rjt/2021 धििाधरणणवध/Asstt. Year:2015-2016 Samanvya Education & Charitable Vs. The Income Tax Officer, Trust, (Exemption)-1, Nr. Bhola Darshan Apt., Ward-1, Station Road, Rajkot. Junagadh Road, Dhoraji-360410. Pan: Aajts8062M (Applicant) (Respondent) Assessee By : Shri Samir Divetia, A.R Revenue By : Shri Shramdeep Sinha, Cit. Dr सुिणाईकीतारीख/Date Of Hearing : 13/12/2023 घोवणाकीतारीख/Date Of Pronouncement: 20/12/2023 आदेश/O R D E R Per Waseem Ahmed:

Exemptions), Ahmedabad, arising in the matter of order passed under Section 263 of the Income Tax Act, 1961 (here-in-after referred to as "the Act") relevant to the Assessment Year 2015-16. A.Y. 2015-16 2 2. The only issue raised by the assessee is that the Ld. PCIT erred in holding assessment framed

ASSTT COMMISSIONER OF INCOME TAX, CIRCLE - 1(1), , RAJKOT vs. SYMBOSA GRANITO PRIVATE LIMITED, WANKANER

depreciation on large investment\nin inventories, building etc.\n(d) However, ld. PCIT in stray cases found the evidences related to the unsecured loans and\nshare capital as insufficient and vide order dated 24.03.2021 set aside the assessment with\ndirection to the AO to the effect that (i) to frame the assessment order afresh after conducting\nindepth inquiries in respect

SURENDRANAGAR DISTRICT CO OP PRODUCERS UNION LIMITED,SURENDRANAGAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, SURENDRANAGAR CIRCLE

In the result, appeal filed by the assessee is allowed

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinhaआयकरअपीलसं./Ita No. 429/Rjt/2025 ("नधा"रणवष"/Assessment Year: (2014-15) Surendranagar District Co. Op. Acit, Circle, Producers Union Ltd. Vs. Surendranagar-363035 Plot No.249, Phase 2 Gidc Market Yard Circle, Sursagar Dairy, Wadhwan Road, Surendranagar-363035 (Guj) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaaas8375B (अपीलाथ"/Assessee) (""यथ"/Respondent) Assessee By : Shri Kalpesh Doshi, Ld. Ar Respondent By : Shri Abhimanyu Singh Yadav, Ld. Sr. Dr Date Of Hearing : Heard On 09/10/2025, Refixed For Clarification On 03.11.2025 & Finally Heard On 02.02.2026 : 10/02/2026 Date Of Pronouncement Order Per, Dr. Arjun Lal Saini, A.M.:

exempt within the meaning of section 80P(2)(b) of the I.T. Act, 1961. The assessing officer, after going through the submissions of the assessee, noticed that the assessee`s cooperative society is district level -middle level cooperative society and is neither state level cooperative society nor primary level cooperative society. Hence assessing officer held that deduction

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

Exempt Income. The assessee failed to comply in response to notice u/s 142(1) dtd. 01-12-2010 even after the assessee was supplied with a copy of reasons for reopening. The assessee did not submit any reply to the final, show cause notice dtd. 08-12-2010 and also did not submit any details in response to the proposal