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

46,11,771 6,06,72,651 41.96% Rudrapur-II N.A. N.A. N.A. Gurgaon 7,12,88,777 48,11,266 6.75% The Rudrapur unit showed net profit of Rs. 3,32,20,406/- and claimed deduction u/s 80-IC of the Act of Rs.2,88,50,633/-, after reducing loss of Rs.43,69,773/-. In support of its claim

THE DY. COMMR. OF INCOME TAX, CIRCLE-1,, JAMNAGAR vs. M/S. DEEP RECYCLING IND.,, JAMNAGAR

In the result, both the appeals filed by the Revenue are dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

46 taxmann.com 167 decided the issue in favour of the assessee. The relevant extract of the order is extracted below: By Finance Act, 2001, with effect from 1-4-2001, the present sub- section (4) is substituted in the place of old sub-section (4). No doubt sub-section speaks about deduction of such profits and gains as derived from

THE ACIT, CIRCLE-2,, JAMNAGAR vs. M/S. DEEP RECYCLOING INDUSTRIES,, JAMNAGAR

In the result, both the appeals filed by the Revenue are dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

46 taxmann.com 167 decided the issue in favour of the assessee. The relevant extract of the order is extracted below: By Finance Act, 2001, with effect from 1-4-2001, the present sub- section (4) is substituted in the place of old sub-section (4). No doubt sub-section speaks about deduction of such profits and gains as derived from

M/S. GREEN EARTH BIOGAS PVT. LTD.,SURENDRANAGAR vs. THE PR. CIT-3, AHMEDABAD, AHMEDABAD

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपीलसं./Ita No.185/Rjt/2023

section 270(A)(1) of Income Tax Act, 1961,? (ii) Documentary evidences of putting depreciable assets to use for the purpose of the Business. (iii) Documentary evidences w.r.t. to source of cash deposited into the bank. 3) Certain facts we would like to put for kind consideration as under before we submit our reply. A. Generation of bio fertilizer

AMRELI JILLA MADHYASTH SAHAKARI BANK LTD.,AMRELI vs. THE DCIT-ACIT-2(1), RAJKOT, RAJKOT

In the result, the appeal of the assessee is allowed

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं/.Ita No.548/Rjt/2024 "नधा"रणवष"/ Assessment Year: 2014-15 Amreli Jilla Madhyasth Sahakari The Dcit/Acit-2(1) बनाम Bank Ltd. Rajkot. Bhojalram Bhavan Vs. Rajmahel Road Amreli 365 601. Pan : Aaata 2737 J (अपीलाथ"/Appellant) : (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee By : Shri D.M.Rindani, Ld.Ar राज"व क" ओर से/Revenue By : Shri Abhimanyu Singh Yadav, Sr-Dr

depreciation i.e. (a) Rs.32,22,897/- and 10% average advances of nRs.3,92,33,51,000/- i.e. (b)_ Rs.39,23,35,100/-, total (a) plus (b) Rs.39,55,57,997/- or (ii) Rs.NIL being provision debited to profit & loss account plus Rs.57,00,750/- being 15% of profit & loss appropriation amount of Rs.3

SHRI NITINBHAI T. BHUPTANI, L.I.C,RAJKOT-GUJARAT vs. THE DY. COMMR. OF INCOME TAX, CIR.-4,, RAJKOT-GUJARAT

In the result appeals of the assessee are partly allowed

Bench: Shri Pramod Kumar, Accountatn Member & Shri Rajpal Yadavआयकर अपील सं./ Ita No. 13/Rjt/2016 & 14/Rjt/2016 & 182/Rjt/2017 "नधा"रण वष"/Asstt. Year: 2010-2011, 2011-12 & 2012-13

section 10 are being prescribed under Rule 2BB of the Income tax Rules 1962. In order to claim these allowances, an assessee has to fulfill three conditions namely, (a) the allowance should be prescribed under Rule 2BB of the Income tax Rules, (b) expenses should be incurred wholly, necessarily and exclusively in the performance of duties (C) allowances should

M/S. EMBOZA GRANITO PVT. LTD. ,MORBI vs. THE PR. CIT-3 , RAJKOT

In the result, appeal filed by assessee is allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकर अपील सं./Ita No. 240/Rjt/2019 िनधा"रण वष"/Asstt. Years: 2016-2017

10,68,759/- only. On question by the AO, the assessee only furnished ledger copy without having supporting documents such as bills, voucher, installation and commissioning certificate. However, the AO allowed the claim of the depreciation without verifying supporting materials. 5.1 Thus, the Ld. Principal Commissioner of Income initiated proceedings u/s 263 of the Act in respect of the captioned

THE DY. COMMR. OF INCOME TAX, CIR.-1(2),, RAJKOT-GUJARAT vs. RAJKOT PEOPLES CO. OP. BANK LTD.,, RAJKOT-GUJARAT

In the result appeals of the Revenue and Cross Objections of the assessee are dismissed except CO of the assessee in the Asstt

Bench: Shri Pramod Kumar & Shri Rajpal Yadavsr.

46,927/- 5. 2012-13 1,09,71,040/- 6. 2013-14 6,51,72,778/- 4. Brief facts of the case are that the assessee has filed its return of income for the Asstt.Year 2009-10 on 8.9.2009. This return was revised on 22.3.2010 ITA No.36/RJT/2014 and 8 Others With CO Ms/.Cooperative Bank of Rajkot Vs. ACIT, Cir.1, Rajkot

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)

10. In response to the above show cause notice, the assessee has submitted a detailed reply before learned PCIT on 22/12/2021. The assessee submitted about provision of Rs. 20,78,36,400/- on account of Investment Depreciation (MTM) stating that assessee bank had made mark to market provision for an amount of Rs.20,78,36,400/- on account of "Investment

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

Depreciation claimed 1,78,82,307 1,51,65,107 5 WDV 7,85,31,109 9,83,31,838 Manufacturing Sales, Job Work Income and Material Consumption at Rudrapur Unit: No Particulars FY 08-09 FY 09-10 1 Sales 4,79,26,914 14,46,11,771 2 Jobwork Income 10 Total Income Manufacturing

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

Depreciation claimed 1,78,82,307 1,51,65,107 5 WDV 7,85,31,109 9,83,31,838 Manufacturing Sales, Job Work Income and Material Consumption at Rudrapur Unit: No Particulars FY 08-09 FY 09-10 1 Sales 4,79,26,914 14,46,11,771 2 Jobwork Income 10 Total income Manufacturing

M/S. SIMERO VITRIFIED P. LTD. ,MORBI vs. THE PR. CIT-3 , RAJKOT

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Us Is A Private Limited Company & Engaged In The Business Of Manufacturing Of Vitrified Tiles. The Return Of Income Has Been E-Filed By The Assessee, On 10/09/2016 For Assessment Year (A.Y.) 2016-17, Reporting Loss Of Rs. 5,68,00,829/-, Which Was Later Revised On 09/03/2018, Declaring Total Loss Of Rs. 13,97,40,413/-, Claiming Investment Allowance U/S 32Ac Of The Income Tax Act. The Case Has Been Selected For Complete Scrutiny (Cass) Specifically To Examine The Followings: 1) Whether Outward Foreign Remittance Is From Disclosed Sources & Appropriate Withholding & Reporting Obligation Have Been Complied With; 2) Whether Investment & Income Relating To Properties Are Duly Disclosed; 3) Whether Receipt Of Foreign Remittance Has Been Correctly Offered For Tax And, 4) Whether Sundry Creditors Are Genuine. 4. The Assessment Order U/S 143(3) For The Assessment Year (A.Y.) 2016-17 Was Passed By Dcit, Morbi Circle, Morbi, Being The Assessing Officer (Ao), On 21/12/2018, Allowing The Loss Claimed Of Rs. 13,97,40,413/- To Be Carry Forward To Subsequent Years. 2

10- 09-2016 declaring total loss of (-) Rs. 5,68,00,829/- as per normal provisions and income of Rs. 98,46,820/- as per the provisions of section 115JB of Income Tax Act, 1961. Thereafter, on 09.03.2018, assessee Company filed revised ITR declaring total loss of (-) Rs. 13,97,40,413/- The case was selected through 'CASS' for Scrutiny

SHREE SAMARTH ELECTRICALS PVT LTD,JAMNAGAR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, JAMNAGAR

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

10 section 133A of the Act was carried out in your business premises on 16.02.2018, and during the course of survey proceedings, uncounted stock worth Rs.65,25,851/- was found. During the course of statement recorded in this regard, it was admitted by you that you will disclose this disclosure amount of Rs.65,25,851/-, as additional income over

SHREE SAMARTH SWITCHGEAR AND TRANSMISSION PVT LTD,JAMNAGAR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, JAMNAGAR, JAMNAGAR

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

10 section 133A of the Act was carried out in your business premises on 16.02.2018, and during the course of survey proceedings, uncounted stock worth Rs.65,25,851/- was found. During the course of statement recorded in this regard, it was admitted by you that you will disclose this disclosure amount of Rs.65,25,851/-, as additional income over

THE ACIT, CENTRAL CIRCLE-2,, MORBI vs. M/S. KISHAN PLUS MINARALS, RAJKOT

In the result, appeal filed by the Revenue (In ITA No

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं /.Ita No.124/Rjt/2021 With Cross Objection No.02/Rjt/2022 "नधा"रणवष"/ Assessment Year: 2019-20 Acit, Cent.Cir.2 M/S.Kishan Plus Minerals बनाम Rajkot. Jetpar Road, Nr. Pavadiyali Temple, Jasmatgadh Vs. Morbi. Pan : Aaqfk4689P (अपीलाथ"/Assessee) : (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee By : Shri Mehul Ranpura, Ld. Counsel राज"व क" ओर से/Revenue By : Shri Sanjay Punglia, Ld. Cit-Dr सुनवाई क" तार"ख /Date Of Hearing : 29/01/2025 (Originally Heard Refixed On 05.06.2025 घोषणा क" तार"ख /Date Of Pronouncement : 20/06/2025 Order Per Dr. Arjun Lal Saini:

10,04,597/- and also claimed the set-off of brought forward (b/f) unabsorbed depreciation, to the extent to the profit earned in current year. The assessee has earned income from manufacturing and trading of Body Clay, which is the basic raw-material for manufacturing of vitrified tiles. A search was conducted on the group cases of “Coral Group

GOPAL SNACKS PVT LTD ,RAJKOT vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAJKOT

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं /.Ita Nos. 498 & 499/Rjt/2025 "नधा"रणवष"/ Assessment Years: 2015-16 & 2020-21 बनाम Gopal Snacks Pvt. Ltd. Asst. Commissioner Of Plot No.2322-2324, Gidc Metoda, Income Tax Vs. Lodhika, Rajkot, Gujarat-360021 Circle-1(1), Rajkot Pan : Aadcg6113A (अपीलाथ"/Appellant) : (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee By : Shri Prakash Jhunjhunwala & Shri K. K. Maloo, Ars. राज"व क" ओर से/Revenue By : Shri Shramdeep Sinha, Cit.Dr & Shri Abhimanyu Singh, Sr. Dr सुनवाई क" तार"ख /Date Of Hearing : 19/11/2025 घोषणा क" तार"ख /Date Of Pronouncement : 08/12/2025

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), dated 18.06.2025 & 17.06.2025, which in turn arise out of separate orders passed by the Assessing Officer u/s 147 r.w.s. ITA Nos. 498 & 499/Rjt/2025 Gopal Snacks Pvt. Ltd. vs. ACIT 2 144B

SHRI JAYANTILAL P. SATIKUNVER,,RAJKOT-GUJARAT vs. THE COMMISSIONER OF INCOME TAX-III,, RAJKOT-GUJARAT

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकर अपील सं./I.T.A. No.469/Rjt/2014 ("नधा"रण वष" / Assessment Year 2010-11)

46,38,738.00 in the trading account and - 53,33,789.00 in the profit and loss account which were verified in the assessment proceedings. Thus, it was contended by the assessee that the valuation of the unaccounted gold/ornaments/jewellery of different purity have been made as on the date of survey after considering the labour charges/making charges. However, the learned

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

46,11,771 Ν.Α. 7,12,88,777 Gross profit 10,30,67,450 Ν.Α. 6,06,72,651 Ν.Α. 48,11,266 GP ratio 33.46% 41.96% 6.75% The Rudrapur unit showed net profit of Rs. 3,32,20,406/- and claimed deduction u/s 80-IC of the Act of Rs.2,88,50,633/-, after reducing loss

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

46,11,771 Ν.Α. 7,12,88,777 Gross profit 10,30,67,450 Ν.Α. 6,06,72,651 Ν.Α. 48,11,266 GP ratio 33.46% 41.96% 6.75% The Rudrapur unit showed net profit of Rs. 3,32,20,406/- and claimed deduction u/s 80-IC of the Act of Rs.2,88,50,633/-, after reducing loss