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

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

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

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

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 and assessment u/s 143(3) was completed on 21.12.2018 on revised returned income after providing consideration to the provisions of section

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

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

THE ITO, WARD 1(3), RAJKOT-GUJARAT vs. M/S PAVAN CONSTRUCTION CO, RAJKOT-GUJARAT

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

depreciation @12.5% thereon. However, the ld CIT(A) treated the part of the machinery repairing expenses incurred for the reconditioning of the existing machineries. As per the ld CIT(A) the amount of repairing expenses was representing the normal wear and tear expenses. Therefore the same cannot be treated as capital in nature. From the preceding discussion, we note that

THE DY. COMMR. OF INCOME TAX, CIR.-1(2),, RAJKOT-GUJARAT vs. M/S S. KUMAR,, RAJKOT-GUJARAT

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

46,326/- from the sale price of the wind mill of Unit-II at Vill.: Chikanyakanalli Tal.Sira, Dist.Tumker, Karnataka which was sold for ITA No. 362/Rjt/2015 a/w. CO No. 56/Rjt/2015 [M/s. S. Kumar] A.Y. 2010-11 - 3 - Rs.3,18,75,000/-. The difference of Rs.48,28,674/- was offered to tax by the assessee, as short term capital gain

BACKBONE ENTERPRISE LTD.,,RAJKOT-GUJARAT vs. THE DY. COMMR. INCOME TAX, CEN. CIRCLE-II,, RAJKOT-GUJARAT

In the result, appeal of the assessee is dismissed

46,89,674/- is hereby disallowed and withdrawn and added back to the taxable income of the assessee company.” 5. In appeal, Ld. CIT(Appeals) discussed facts of each of the individual projects carried out by the assessee on merits, and based on the analysis of each of the projects, gave part relief to the assessee. The Department

THE ASSTT. COMMR. INCOME TAX, CEN. CIRCLE-2,, RAJKOT-GUJARAT vs. M/S BACKBONE ENTERPRISES LTD.,, RAJKOT-GUJARAT

In the result, appeal of the assessee is dismissed

46,89,674/- is hereby disallowed and withdrawn and added back to the taxable income of the assessee company.” 5. In appeal, Ld. CIT(Appeals) discussed facts of each of the individual projects carried out by the assessee on merits, and based on the analysis of each of the projects, gave part relief to the assessee. The Department

THE ASSISTANT COMMR. OF INCOME TAX, CIRCLE-3,, JAMNAGAR vs. SHRI MILANKUMAR M. POBARU,, JAMNAGAR

Appeal of the Revenue is partly allowed

section 40(a)(ia) of the Act cannot be applied to disallow the amount of such freight amounting to Rs.2,01,81,428/-. Following the aforesaid discussion, we set-aside the order of the Commissioner of Income-tax (A) and direct the Assessing Officer to delete the impugned addition. The assessee accordingly, succeeds on this Ground.” 33. It was further

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

Section 40(a)(ia) of the Act. The Ld. DR submitted that the assessee has made short deduction of Rs.17,590/- and was liable for short deduction at Rs.4,050/- besides late payment interest of Rs.1,19,120/- and Rs.26,084/-. Thus, the Ld. DR relied upon the Assessment Order. 34. Ld. AR submitted that the assessee has already disallowed

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

Section 40(a)(ia) of the Act. The Ld. DR submitted that the assessee has made short deduction of Rs.17,590/- and was liable for short deduction at Rs.4,050/- besides late payment interest of Rs.1,19,120/- and Rs.26,084/-. Thus, the Ld. DR relied upon the Assessment Order. 34. Ld. AR submitted that the assessee has already disallowed

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

THE ACIT, CIRCLE- 1,, RAJKOT-GUJARAT vs. SMT. MANISHABEN N. MASHRU,, RAJKOT-GUJARAT

In the result, appeal of the Revenue in ITA No

Bench: Shri Pramod Kumar & Shri Rajpal Yadavsr.No.

section 40(a)(ia) of the Act on account of non-deduction of TDS deserves to be deleted. We accordingly delete the disallowance. This ground of appeal is allowed. 46. In ground no.3, the assessee has challenged addition of Rs.50,000/- on account of low household withdrawals. 47. We have already considered this issue while taking up appeal

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

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-1,, JAMNAGAR vs. M/S. SENOR METALS PVT. LTD., JAMNAGAR

In the results the appeal of the revenue is dismissed

Bench: Shri Waseem Ahmed & Ms Suchitra Raghunath Kambleआयकर अपील सं./Ita No. 260/Rjt/2015 िनधा"रण वष"/Asstt. Year:2011-12

Depreciation Related to Mfg. 67 68 087 77 55 982 1 73 60 002 1 93 45 151 (Increase )/Decrease in stock Opening stock By product 1 28 206 2 86 589 Work in process 5 86 46 481 6 63 78 651 Finished goods 1 11 79 254 77 63 967 Total

FRIENDS SALT WORKS AND ALLIED INDUSTRIES,GANDHIDHAM vs. ACIT, CIRCLE-1, GANDHIDHAM, GANDHIDHAM

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

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

depreciation is not sustainable hence, the addition stand deleted. Ground no. 1 raised by the assessee is allowed. 8. Ground – 2 The next issue is regarding addition of Rs. 2,77,06,992/- being amount received on sale of Renewable Energy Certificate REC and Voluntary Carbon Unit VCU, popularly known as Carbon Credit. The AO states that the appellant