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

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

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

section 270(A)(1) of Income Tax Act, 1961,?\n(ii)\nDocumentary evidences of putting depreciable assets to use for the\npurpose of the Business.\n(iii)\nDocumentary evidences w.r.t. to source of cash deposited into the bank.\n3) Certain facts we would like to put for kind consideration as under before we\nsubmit our reply.\nA. Generation

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

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

46,11,771\n6,06,72,651\n41.96%\nRudrapur-II\nΝ.Α.\nΝ.Α.\nΝ.Α.\nGurgaon\n7,12,88,777\n48,11,266\n6.75%\nThe 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

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

46,11,771\nΝ.Α.\n7,12,88,777\nGross profit\n10,30,67,450\nΝ.Α.\n6,06,72,651\nΝ.Α.\n48,11,266\nGP ratio\n33.46%\n41.96%\n6.75%\nThe Rudrapur unit showed net profit of Rs. 3,32,20,406/- and claimed deduction\nu/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\nΝ.Α.\n7,12,88,777\nGross profit\n10,30,67,450\nΝ.Α.\n6,06,72,651\nΝ.Α.\n48,11,266\nGP ratio\n33.46%\n41.96%\n6.75%\nThe Rudrapur unit showed net profit of Rs. 3,32,20,406/- and claimed deduction\nu/s 80-IC of the Act of Rs.2,88,50,633/-, after reducing loss

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

46,11,771\nΝ.Α.\n7,12,88,777\nGross profit\n10,30,67,450\nΝ.Α.\n6,06,72,651\nΝ.Α.\n48,11,266\nGP ratio\n33.46%\n41.96%\n6.75%\nThe Rudrapur unit showed net profit of Rs. 3,32,20,406/- and claimed deduction\nu/s 80-IC of the Act of Rs.2,88,50,633/-, after reducing loss

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

In the result, summarised and concise ground No

46,11,771\nΝ.Α.\n7,12,88,777\nGross profit\n10,30,67,450\nΝ.Α.\n6,06,72,651\nΝ.Α.\n48,11,266\nGP ratio\n33.46%\n41.96%\n6.75%\nThe Rudrapur unit showed net profit of Rs. 3,32,20,406/- and claimed deduction\nu/s 80-IC of the Act of Rs.2,88,50,633/-, after reducing loss

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

46 taxmann.com 100 (Madras), held that where pursuant to order of\nTPO, Assessing Officer passed a final order under section 143(3) instead of\npassing a draft assessment order under section 144C, there being violation of\nprocedure prescribed under Act, impugned order was to be set aside and, in\nsuch a case, even corrigendum issued by Assessing Officer modifying final

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

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

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

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