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

47,72,707. The case was selected through "CASS" selection for complete Scrutiny and the AO vide order, under section 143(3) of the Act, dated 21-12-2018 allowed the loss to be carried forwarded for Rs. 11,42,74,707/-. 4.1 The assessee company had issued 1,85,00,000 equity shares at Rs. 10 each

THE INCOME TAX OFFICER-WARD-2, , GANDHIDHAM - KUTCH vs. M/S. RIDDHI SIDDHI JEWELLERS, GANDHIDHAM - KUTCH

In the result, appeal of the Revenue isdismissed

Bench: Smt.Annapurna Gupta & Smt. Madhumita Royassessment Year :2014-15 Ito, Ward-2 Vs. M/S.Riddhi Siddhi Jewellers Gandhidham. Shop No.1, Plot No.68 Bba (Sough) Gandhidham-Kutch. 0 अपीलाथ"/ (Appellant) "" यथ"/(Respondent) Assessee By : Shri D.M. Rindani, Ar Revenue By : Shri B.D. Gupta, Sr.Dr सुनवाई क" तार"ख/Date Of Hearing : 11/04/2023 घोषणा क" तार"ख /Date Of Pronouncement: 05/07/2023

47,977/- 2. Interest to partners Rs. 9,85,160/- The Book Profit was therefore Rs. 20162589/-, the AO has also noted the same in his assessment order in his computation on page 12 of the order. The AO has not disbelieved the other entries of P&L account. His grievance has arisen due to declared net profit being much

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

47,414\n9,83,31,838\nOverall Depreciation Chart of Rudrapur Unit:\nNo\nParticulars\nFY 08-09\nFY 09-10\n1\nWDV\n4,14,64,138\n7,85,31,109\n2\nAddition to fixed asset\n5,49,29,277\n3,49,65,836\n3\nTotal\n9,64,13,416\n11,34,96,945\n4\nDepreciation claimed

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

47% unless the allocation of interest expenditure under long term and short term is made incorrectly. (b) The assessee has somewhat arbitrarily allocated the expenses, not based on proportion but on some assumed weightage. In terms of salary, miscellaneous and other operating expenses, the assessee has claimed 41% as expenditure for short term loans, however, only 28% for long term

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

47,414\nWDV\n7,85,31,109\n9,83,31,838\nOverall Depreciation Chart of Rudrapur Unit:\nNo Particulars\nFY 08-09\nFY 09-10\n1\nWDV\n4,14,64,138\n7,85,31,109\n2\nAddition to fixed asset\n5,49,29,277\n3,49,65,836\n3\nTotal\n9,64,13,416\n11,34,96,945\n4\nDepreciation

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

47,414\nWDV\n7,85,31,109\n9,83,31,838\nOverall Depreciation Chart of Rudrapur Unit:\nNo Particulars\nFY 08-09\nFY 09-10\n1\nWDV\n4,14,64,138\n7,85,31,109\n2\nAddition to fixed asset\n5,49,29,277\n3,49,65,836\n3\nTotal\n9,64,13,416\n11,34,96,945\n4\nDepreciation

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

In the result, summarised and concise ground No

47,414\nWDV\n7,85,31,109\n9,83,31,838\nOverall Depreciation Chart of Rudrapur Unit:\nNo Particulars\nFY 08-09\nFY 09-10\n1\nWDV\n4,14,64,138\n7,85,31,109\n2\nAddition to fixed asset\n5,49,29,277\n3,49,65,836\n3\nTotal\n9,64,13,416\n11,34,96,945\n4\nDepreciation

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

47,414\nWDV\n7,85,31,109\n9,83,31,838\nOverall Depreciation Chart of Rudrapur Unit:\nNo Particulars\nFY 08-09\nFY 09-10\n1\nWDV\n4,14,64,138\n7,85,31,109\n2\nAddition to fixed asset\n5,49,29,277\n3,49,65,836\n3\nTotal\n9,64,13,416\n11,34,96,945\n4\nDepreciation

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

47,414\nWDV\n7,85,31,109\n9,83,31,838\nOverall Depreciation Chart of Rudrapur Unit:\nNo Particulars\nFY 08-09\nFY 09-10\n1\nWDV\n4,14,64,138\n7,85,31,109\n2\nAddition to fixed asset\n5,49,29,277\n3,49,65,836\n3\nTotal\n9,64,13,416\n11,34,96,945\n4\nDepreciation

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

OM LAMCOAT PVT LTD,MORBI vs. THE ACIT, CENTRA CIRCLE-1, RAJKOT, RAJKOT

In the result, both appeals filed by the assessee (in ITA Nos

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकरअपीलसं/.Ita No. 286 & 287/Rjt/2022 िनधा"रणवष" / Assessment Year: (2016-17 & 2019-20) (Hybrid Hearing) बनाम M/S. Om Lamcoat Pvt. Ltd. The Acit, 8-A, Kandla National Highway, Vs. Central Circle -1, Opp. Dadashri Nagar, At. Morbi – Aayakar Bhavan, Amruta 363642 Estate, M. G. Road, Rajkot – 360001 "थायीलेखासं/.जीआइआरसं/.Pan No. : Aabco8163G (अपीलाथ"/Assessee) .. (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee By : Shri Mehul Ranpura, Ld. Ar राज"व क" ओर से/Revenue By : Shri Abhimanyu Singh Yadav, Ld. Sr. (Dr) सुनवाई क" तार"ख/Date Of Hearing : 16/06/2025 घोषणा क" तार"ख/Date Of Pronouncement : 11/09/2025

depreciation as per the provisions of the Companies Act. Thus, the issue of scrutiny of P&L account prepared by the Company is still wide open. Therefore, the assessee's claim regarding not altering the book profit by the amount of gross profit estimated on the unaccounted transactions was not considered by the assessing officer. 9. The assessee also argued

OM LAMCOAT PVT LTD,MORBI vs. ACIT, CENTRAL CIRCLE-1, RAJKOT, RAJKOT

In the result, both appeals filed by the assessee (in ITA Nos

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकरअपीलसं/.Ita No. 286 & 287/Rjt/2022 िनधा"रणवष" / Assessment Year: (2016-17 & 2019-20) (Hybrid Hearing) बनाम M/S. Om Lamcoat Pvt. Ltd. The Acit, 8-A, Kandla National Highway, Vs. Central Circle -1, Opp. Dadashri Nagar, At. Morbi – Aayakar Bhavan, Amruta 363642 Estate, M. G. Road, Rajkot – 360001 "थायीलेखासं/.जीआइआरसं/.Pan No. : Aabco8163G (अपीलाथ"/Assessee) .. (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee By : Shri Mehul Ranpura, Ld. Ar राज"व क" ओर से/Revenue By : Shri Abhimanyu Singh Yadav, Ld. Sr. (Dr) सुनवाई क" तार"ख/Date Of Hearing : 16/06/2025 घोषणा क" तार"ख/Date Of Pronouncement : 11/09/2025

depreciation as per the provisions of the Companies Act. Thus, the issue of scrutiny of P&L account prepared by the Company is still wide open. Therefore, the assessee's claim regarding not altering the book profit by the amount of gross profit estimated on the unaccounted transactions was not considered by the assessing officer. 9. The assessee also argued

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

depreciation claim on electricity line. 38. The Ld. AR submitted that though the legal ownership of electricity line belongs to PGVCL, capital cost of such electricity line has been incurred by the assessee Company and it is exclusively used for the purpose of business of the Company. In alternate, the Ld. AR submitted that the entire cost should be allowed

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

depreciation claim on electricity line. 38. The Ld. AR submitted that though the legal ownership of electricity line belongs to PGVCL, capital cost of such electricity line has been incurred by the assessee Company and it is exclusively used for the purpose of business of the Company. In alternate, the Ld. AR submitted that the entire cost should be allowed

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.:

47,70,000/- u/s 80P(2)(d) earned from the investment in Co- operative Society. 5. That, the Ld. CIT(A) has wrongly confirmed the initiation of penalty proceedings u/s 271(1)(c) of the I.T. Act, 1961. 7. That, the Ld. CIT(A) has wrongly confirmed the interest charged u/s 234A/B/C of the I. T. Act, 1961. 8. That

FRIENDS SALT WORKS & ALLIED INDS.,,GANDHIDHAM vs. THE ADDL. COMMISSIONER OF INCOME TAX, RANGE 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

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

SHRI DIPTEN AHINDRA BHOWMICK,GANDHIDHAM-KUTCH vs. THE ITO, WARD-1, GANDHIDHAM-KUTCH

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

Bench: Shri Waseem Ahmed & Shri T. R. Senthil Kumar

47, compilation case laws and contended that the case of the assessee was selected under limited scrutiny and therefore the scope of the scrutiny was Ltd to the extent of verification of cash balance until and unless some approval is obtained from the higher authorities for converting limited scrutiny into regular scrutiny. But, the AO has not done