GOJIYA BHIKHUBHAI,JAMNAGAR vs. PRINCIPAL COMMISSIONEROF INCOME TAX, JAMNAGAR

section 263 of the Act.\nThus, the assessing officer was directed to revise the assessment order.\n19.Aggrieved by the order of ld.Pr.CIT, the assessee is in appeal before us.\n20. About the issue of excess business stock, Learned Counsel for the assessee,\nargued that during the survey proceedings, the assessee has explained to the\nsurvey team, that excess stock

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

263 was passed on 13.09.2016 and AO was directed to re-assess the income of the assessee depicting the following issues:\n(a) Share Capital introduced during the year under consideration;\n(b) Unsecured Loans (squared up or not) raised during the year;\n(c) Sundry Creditors, and\n(d) Sustainability of claim u/s 32AC\n3. Accordingly, a notices

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

263 r.w.s 144B of\nthe Income Tax Act 1961 for the assessment year(A.Y.) 2016-17 of the\nassessing officer of making addition of Rs. 7,78,97,000/- on account of share\ncapital and Rs. 57,61,000/- on account of unsecured loans u/s 68 of the Act, and\nthis is a second inning before us. Learned

M/S. MADHURAM CONSTRUCTION CO. JUNAGADH,JUNAGADH vs. THE PR. CIT-1, RAJKOT, RAJKOT

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

section 263 of the\nIncome Tax Act, 1961. On perusal of records, it was noticed by the ld.\nPCIT, that during the previous year 2015-16, relevant to assessment year\n(A.Υ.) 2016-17, the assessee had claimed labour expenses of\nRs.8,50,39,942/- (approximately 19 % of contract work income) in the\nprofit and loss account

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

section 263 of the Act. Thus, the assessing officer was directed to revise the assessment order. 19.Aggrieved by the order of ld.Pr.CIT, the assessee is in appeal before us. GojijyaBhikhubhai and Others ITA No.609, 610 and 612/RJT/2024 (AY :2018-19) 12 20. About the issue of excess business stock, Learned Counsel for the assessee, argued that during the survey proceedings

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

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

section 263 of the Act. Thus, the assessing officer was directed to revise the assessment order. 19.Aggrieved by the order of ld.Pr.CIT, the assessee is in appeal before us. GojijyaBhikhubhai and Others ITA No.609, 610 and 612/RJT/2024 (AY :2018-19) 12 20. About the issue of excess business stock, Learned Counsel for the assessee, argued that during the survey proceedings

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

263. THE ACIT CIR.1(1) RAJKOT 4. Accounting Standards Prescribed by the Institute of Cost Accountants of India Cannot Override the Income Tax Act or Section 36(1)(viii) The Income Tax Act governs taxation matters in India, and as per settled legal principles, accounting standards issued under any other legislation cannot override statutory provisions of tax law unless explicitly

RAJKOT DISTRICT CO-OP. BANKS EMPLOYEES M P CREDIT CO-OP. LTD.,RAJKOT vs. THE DCIT/ACIT CIR 1(1), RAJKOT

In the result, appeal of the assessee is allowed

Depreciation Fund Exp.\n4,11,045.00\nMember's Gift Exp.\n2,25,020.00\nDepreciation\n4,23,927.00\nLess:\nIncome from Other Head\n(-)18,93,786.00\nInterest Income\n18,41,436.00\nDividend Income\n52,350.00\nB\nSection 80P(2)(d) - Interest or dividend from its investment with any\nother co-operative society\nInterest Income from other Co-operative\nBank

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.:

depreciation, the net income of Rs. 92,40,586/- has been shown. The net business income is claimed as deduction u/s 80P(2)(b) of the Act, in the return filed by the assessee. However, during the course of assessment proceedings, the deduction of interest is disallowed and the net interest income of Rs. 34,79,487/- has been treated

ACIT, CIRCLE-1(1), RAJKOT, RAJKOT vs. GANDHI REALITY (INDIA) PRIVATE LIMITED, RAJKOT

In the result, the appeal of the Revenue is dismissed

Bench: Dr. Arjun Lal Saini, Am. & Dinesh Mohan Sinha, Jm

Section 47 excludes the transfer of a capital asset in an approved scheme of amalgamation. The Court also highlighted that the provisions referred to by the assessee are in a Chapter related to "Capital Gains," whereas an approved scheme of amalgamation operates by law, as recognized in the Smifs case. In this case hon’ble delhi high court has held

ASHVIN DINESHBHAI JADAV,RAJKOT vs. ITO, WARD-1(1)(1), RAJKOT, RAJKOT

In the result, the appeal of the assessee is allowed

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

263, of the Income-tax Act, 1961 Tax on income referred to in section 68 to section 69D (Set of loss) Assessment year 2013-14 During year, assessee filed its return of income and claimed set off of carried forward loss (unabsorbed portion of depreciation

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.

depreciation on assets is "assets used for the purpose of business", in Sec. 36(1)(iii) which allows interest on capital, the words used are "borrowed for the purpose of business', the words used in Section 37 which allows any expenditure “.... wholly and exclusively incurred for the purpose of the business" make it not only abundantly clear but mandatory also

KONARK OVERSEAS PRIVATE LIMITED,GANDHIDHAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, GANDHIDHAM CIRCLE, GANDHIDHAM

In the result, this appeal of the assessee is allowed for statistical purposes, in\nabove terms

depreciation and interest was deemed not justified.", "result": "Allowed", "sections": [ "271(1)(c)", "143(3)", "263" ], "issues": "Whether the penalty

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

263 of the Act, in respect of assessment year 2010–11. 34. The Ld. Counsel also submitted about assessee`s appeal that restricting disallowance of deduction under section 80-IC of Rs.1,18,45,693/-, on protective basis, on the alleged ground of inflated profit of Rudrapur unit, being sale by Rajkot unit, in respect of item code 235F

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

263 of the Act, in respect of assessment year 2010–11. 34. The Ld. Counsel also submitted about assessee`s appeal that restricting disallowance of deduction under section 80-IC of Rs.1,18,45,693/-, on protective basis, on the alleged ground of inflated profit of Rudrapur unit, being sale by Rajkot unit, in respect of item code 235F

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

263\nof the Act, in which disallowance was made by the Assessing Officer. Since the\nAsst. Year 2011-12, was decided based on Asst. Year 2010-11, however in\nAsst. Year 2010-11, the PCIT has revised the assessment order, therefor Asst.\nYear 2010-11 cannot be taken as a base to allow the appeal of the assessee

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

depreciation on motor car of Rs. 11,97,617/-, it is clarified that all the cars are\nused at Rajkot unit only. In Rudrapur unit 1, depreciation on motor care of 1,54,016/-\n(1,04,546 + 49,470) and those cars at Rudrapar unit 1 only. As all motor car depreciation\nexpenses of respective units borne by, itself

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

263\nof the Act, in which disallowance was made by the Assessing Officer. Since the\nAsst. Year 2011-12, was decided based on Asst. Year 2010-11, however in\nAsst. Year 2010-11, the PCIT has revised the assessment order, therefor Asst.\nYear 2010-11 cannot be taken as a base to allow the appeal of the assessee