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 on value of such assets. 7. That Ld. AR on behalf of the assessee has filed written submission on 18/02/2025. The details of claim of deduction made u/s36(1)(viii) by the Appellant are as under: Sr. Particulars Amount (in Rs.) 1. Claim made in the return of income 2,62,50,000/- 2. Claim made during assessment

THE ASSISTANT COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE,, GANDHINAGAR vs. M/S KUTCH SALT & ALLIED INDUSTRIES LTD.,, GANDHIDHAM

In the result, cross objections filed by the assessee are allowed for statistical purposes

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhait (Ss)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 To 2012-13) (Hybrid Hearing) Asstt. Commissioner Of Income Tax, Vs. M/S. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaact1769L (Appellant) (Respondent)

36(1)(iii) of Rs.3,16,82,477/- though the assessee had made interest free advances out of interest bearing funds. This is ground No.3 of revenue`s appeal in ITA No. 233/RJT/2016 for assessment year 2009–10. Similar and identical grounds in other appeals of the revenue are as follows: (a)Ground No.3 in revenue`s, appeal

THE ASSISTANT COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE,, GANDHINAGAR vs. M/S KUTCH SALT & ALLIED INDUSTRIES LTD.,, GANDHIDHAM

In the result, cross objections filed by the assessee are allowed for statistical purposes

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhait (Ss)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 To 2012-13) (Hybrid Hearing) Asstt. Commissioner Of Income Tax, Vs. M/S. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaact1769L (Appellant) (Respondent)

36(1)(iii) of Rs.3,16,82,477/- though the assessee had made interest free advances out of interest bearing funds. This is ground No.3 of revenue`s appeal in ITA No. 233/RJT/2016 for assessment year 2009–10. Similar and identical grounds in other appeals of the revenue are as follows: (a)Ground No.3 in revenue`s, appeal

THE ASSISTANT COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE,, GANDHIDHAM-KUTCH vs. M/S KUTCH SALT & ALLIED INDUSTRIES LTD.,, GANDHIDHAM-KUTCH

In the result, cross objections filed by the assessee are allowed for statistical purposes

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhait (Ss)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 To 2012-13) (Hybrid Hearing) Asstt. Commissioner Of Income Tax, Vs. M/S. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaact1769L (Appellant) (Respondent)

36(1)(iii) of Rs.3,16,82,477/- though the assessee had made interest free advances out of interest bearing funds. This is ground No.3 of revenue`s appeal in ITA No. 233/RJT/2016 for assessment year 2009–10. Similar and identical grounds in other appeals of the revenue are as follows: (a)Ground No.3 in revenue`s, appeal

THE ASSISTANT COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE,, GANDHINAGAR vs. M/S KUTCH SALT & ALLIED INDUSTRIES LTD.,, GANDHIDHAM

In the result, cross objections filed by the assessee are allowed for statistical purposes

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhait (Ss)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 To 2012-13) (Hybrid Hearing) Asstt. Commissioner Of Income Tax, Vs. M/S. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaact1769L (Appellant) (Respondent)

36(1)(iii) of Rs.3,16,82,477/- though the assessee had made interest free advances out of interest bearing funds. This is ground No.3 of revenue`s appeal in ITA No. 233/RJT/2016 for assessment year 2009–10. Similar and identical grounds in other appeals of the revenue are as follows: (a)Ground No.3 in revenue`s, appeal

THE ASSISTANT COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE,, GANDHINAGAR vs. M/S KUTCH SALT & ALLIED INDUSTRIES LTD.,, GANDHIDHAM

In the result, cross objections filed by the assessee are allowed for statistical purposes

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhait (Ss)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 To 2012-13) (Hybrid Hearing) Asstt. Commissioner Of Income Tax, Vs. M/S. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaact1769L (Appellant) (Respondent)

36(1)(iii) of Rs.3,16,82,477/- though the assessee had made interest free advances out of interest bearing funds. This is ground No.3 of revenue`s appeal in ITA No. 233/RJT/2016 for assessment year 2009–10. Similar and identical grounds in other appeals of the revenue are as follows: (a)Ground No.3 in revenue`s, appeal

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)

iii) Provision for bad and doubtful debt for Rs. 28,58,83, 284/- rural advances allowable u/s 36(1)(viia) Total Rs.46,83,83,284/- The assessee also explained the provisions of section 36(1)(viii) of the Income Tax Act, which is reproduced here under: “Other deductions, (1) The deductions provided for in the following clauses shall be allowed

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.

Sections 30, 31 and 32 of the KT. Act, which allow rent/rates/insurance, repairs & depreciation on assets is "assets used for the purpose of business", in Sec. 36(1)(iii

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

In the result, appeal filed by the assessee is dismissed

36(1)(iii)", "Section 43(1)", "Section 270A", "Section 270A(10b)", "Section 80JJA", "Section 68", "Section 115BBE", "Section 142(1)", "Section 32"], "issues": "Whether the assessment order dated 30.09.2019 was erroneous and prejudicial to the interest of revenue, warranting revision under Section 263 of the Income-tax Act, 1961, concerning issues of depreciation

SEABIRD MARINE SERVICES PRIVATE LIMITED,JAMNAGAR vs. ACIT, CIRCLE - 1, JAMNAGAR, JAMANGAR

In the result, ground No.4 raised by the assessee is allowed

36,85,000 (Thirty Six Lakh Eighty Five Thousand) 6% Non-Cumulative, Non-\nConvertible, Redeemable fully paid up preference shares of Rs.100/- (Rupees Hundred)\neach held by Seabird Marine Services Privat Limited and having an aggregate paid up\nvalue of Rs.36,85,00,000/- (Rupees Thirty Six Crores Eight Five Lakhs); (“Proposed\nCapital Reduction”); and (b) NIL consideration being payable

DCIT, CENTRAL CIRCLE 2, RAJKOT, RAJKOT vs. SHRI MUKESH MANEKCHAND SHETH, RAJKOT

depreciation.\n[This is ground No.6 in ITA N0.546/Rjt/2024 A.Y.2018-19]\n4. Now we shall take above, summarised and concise ground of appeals, of\nassessee and revenue, as follows.\n5. The summarised and concise ground No.1, is reproduced below for ready\nreference.\n“1.Ground No.1. The Ld.CIT(A) erred in holding that proceedings u/s 148 culminating\ninto order

MUKESH MANEKCHAND SHETH,RAJKOT vs. THE DCIT-ACIT, CENTRAL CIRCLE-2, RAJKOT, RAJKOT

depreciation.\n[This is ground No.6 in ITA N0.546/Rjt/2024 A.Y.2018-19]\n4. Now we shall take above, summarised and concise ground of appeals, of\nassessee and revenue, as follows.\n5. The summarised and concise ground No.1, is reproduced below for ready\nreference.\n“1.Ground No.1. The Ld.CIT(A) erred in holding that proceedings u/s 148 culminating\ninto order

MUKESH MANEKCHAND SHETH,RAJKOT vs. THE DCIT-ACIT, CENTRAL CIRCLE-2, RAJKOT, RAJKOT

depreciation.\n[This is ground No.6 in ITA N0.546/Rjt/2024 A.Y.2018-19]\n4. Now we shall take above, summarised and concise ground of appeals, of\nassessee and revenue, as follows.\n5. The summarised and concise ground No.1, is reproduced below for ready\nreference.\n“1.Ground No.1. The Ld.CIT(A) erred in holding that proceedings u/s 148 culminating\ninto order

DCIT, CENTRAL CIRCLE 1, RAJKOT, RAJKOT vs. SHRI MUKESH MANEKCHAND SHETH, RAJKOT

depreciation.\n[This is ground No.6 in ITA N0.546/Rjt/2024 A.Y.2018-19]\n4. Now we shall take above, summarised and concise ground of appeals, of\nassessee and revenue, as follows.\n5. The summarised and concise ground No.1, is reproduced below for ready\nreference.\n“1.Ground No.1. The Ld.CIT(A) erred in holding that proceedings u/s 148 culminating\ninto order

MUKESH MANEKCHAND SHETH,RAJKOT vs. THE DCIT-ACIT, CENTRAL CIRCLE -2, RAJKOT., RAJKOT

depreciation.\n[This is ground No.6 in ITA N0.546/Rjt/2024 A.Y.2018-19]\n4. Now we shall take above, summarised and concise ground of appeals, of\nassessee and revenue, as follows.\n5. The summarised and concise ground No.1, is reproduced below for ready\nreference.\n\"1.Ground No.1. The Ld.CIT(A) erred in holding that proceedings u/s 148 culminating\ninto order

MUKESH MANEKCHAND SHETH,RAJKOT vs. THE DCIT-ACIT, CENTRAL CIRCLE -2, RAJKOT, RAJKOT

depreciation.\n[This is ground No.6 in ITA N0.546/Rjt/2024 A.Y.2018-19]\n4. Now we shall take above, summarised and concise ground of appeals, of\nassessee and revenue, as follows.\n5. The summarised and concise ground No.1, is reproduced below for ready\nreference.\n“1.Ground No.1. The Ld.CIT(A) erred in holding that proceedings u/s 148 culminating\ninto order

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

iii) it should not produce the items which is not specified in Section 80IC of the Act. The Learned DR for the revenue contended that by and large, these conditions were not satisfied by the assessee, under consideration. 29. The Ld. CIT-D.R. for the Revenue also submitted written submissions before the Bench, on the terminology and definition

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

iii) it should not produce the items which is not specified in Section 80IC of the Act. The Learned DR for the revenue contended that by and large, these conditions were not satisfied by the assessee, under consideration. 29. The Ld. CIT-D.R. for the Revenue also submitted written submissions before the Bench, on the terminology and definition

RAJSHANTI METALS PVT. LTD.,,JAMNAGAR vs. THE PR. COMMR. OF INCOME TAX,, JAMNAGAR

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकर अपील सं./Ita No. 176/Rjt/2016 िनधा"रण वष"/Asstt. Years: 2011-2012 Rajshanti Metals Pvt. Ltd., The Principal Commissioner Of B-42, Gidc, Vs. Income Tax, Shankar Tekri, Jamnagar. Jamnagar.

36,000/- and ₹ 17,28,949/- respectively but the AO has not verified the identity and creditworthiness of the parties as well as genuineness of the transaction. The learned PCIT in his order clearly admitted that the A.Y. 2011-12 3 necessary documents were furnished by the assessee in support of the above defects but the AO has failed