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)

section 263 of the Income-tax Act, 1961. 5. The ld.PCIT had noticed the first issue from the assessment records that assessee (M/s Saurashtra Gramin Bank) during the previous year 2016-17 relevant to assessment year (A.Y.) 2017-18, had made provision for an amount of Rs. 20,78,36,400/-, on account of "Investment Depreciation Reserve" as allowable expenditure

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

9,48,57,854/-. Hence, the assessee- company cannot be considered as defunct company. Transferor Company No.1 was engaged in the business of developing residential and commercial projects, infrastructure facility and operating commercial malls. Transferor Company No. 2 was in the business of maintenance and management of malls & commercial facilities. Since the Transferor Companies were owning and operating the real

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)

9(1) of the Act, the expenditure involves the income accruing or arising to the recipient parties in India and such income being in the form of commission/brokerage, the TDS was deductible. The failure of the assessee in this behalf entails addition in view of AAR decision in the case of SKF Boilers & Dryers Pvt. Ltd reported

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)

9(1) of the Act, the expenditure involves the income accruing or arising to the recipient parties in India and such income being in the form of commission/brokerage, the TDS was deductible. The failure of the assessee in this behalf entails addition in view of AAR decision in the case of SKF Boilers & Dryers Pvt. Ltd reported

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)

9(1) of the Act, the expenditure involves the income accruing or arising to the recipient parties in India and such income being in the form of commission/brokerage, the TDS was deductible. The failure of the assessee in this behalf entails addition in view of AAR decision in the case of SKF Boilers & Dryers Pvt. Ltd reported

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)

9(1) of the Act, the expenditure involves the income accruing or arising to the recipient parties in India and such income being in the form of commission/brokerage, the TDS was deductible. The failure of the assessee in this behalf entails addition in view of AAR decision in the case of SKF Boilers & Dryers Pvt. Ltd reported

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)

9(1) of the Act, the expenditure involves the income accruing or arising to the recipient parties in India and such income being in the form of commission/brokerage, the TDS was deductible. The failure of the assessee in this behalf entails addition in view of AAR decision in the case of SKF Boilers & Dryers Pvt. Ltd reported

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.

section 142(1) of the Act dated 31-01-2014 2. Please furnish N.P./turnover and GP/turnover ratio for the AYs 2009-10, 2010-11 and 2011-12 with reason for decline. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX 7. Please furnish complete postal addresses and confirmation of new unsecured loan. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX 9. Books of accounts alongwith stock registers. Reply dated 15-02-2014: 2. Gross

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

vii). The Undertaking employs more than ten workers in a manufacturing process carried on with aid of power. (viii). The said Industrial Undertaking is not formed as a result of reconstruction or revival of the business. (ix). The production capacity of undertaking increased. (x). Production and Profit of the New industrial Undertaking is ascertainable. (xi). The undertaking is managed

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

vii). The Undertaking employs more than ten workers in a manufacturing process carried on with aid of power. (viii). The said Industrial Undertaking is not formed as a result of reconstruction or revival of the business. (ix). The production capacity of undertaking increased. (x). Production and Profit of the New industrial Undertaking is ascertainable. (xi). The undertaking is managed

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

vii). The Undertaking employs more than ten workers in a manufacturing process carried on with aid of power.\n(viii). The said Industrial Undertaking is not formed as a result of reconstruction or revival of the business.\n(ix). The production capacity of undertaking increased.\n(x). Production and Profit of the New industrial Undertaking is ascertainable

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

VII of the Finance Act, 2013 Procedural delay in recognition of stock (17 of 2013)]] exchange would not lead a derivative transaction to be categorized as speculative one: k) ACIT vs. Mr. Arnav Akshay Mehta – Appeal No. ITA 2742/Mum./2011 (Mumbai Tribunal) (page no. 274-277 of paper book) l) Vimal Oil & Foods Ltd vs. ACIT [2015] 54 taxmann.com

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

vii). The Undertaking employs more than ten workers in a manufacturing\nprocess carried on with aid of power.\n(viii). The said Industrial Undertaking is not formed as a result of reconstruction\nor revival of the business.\n(ix). The production capacity of undertaking increased.\n(x). Production and Profit of the New industrial Undertaking is ascertainable

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

vii). The Undertaking employs more than ten workers in a manufacturing\nprocess carried on with aid of power.\n(viii). The said Industrial Undertaking is not formed as a result of reconstruction\nor revival of the business.\n(ix). The production capacity of undertaking increased.\n(x). Production and Profit of the New industrial Undertaking is ascertainable

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

vii). The Undertaking employs more than ten workers in a manufacturing\nprocess carried on with aid of power.\n(viii). The said Industrial Undertaking is not formed as a result of reconstruction\nor revival of the business.\n(ix). The production capacity of undertaking increased.\n(x). Production and Profit of the New industrial Undertaking is ascertainable

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

vii). The Undertaking employs more than ten workers in a manufacturing\nprocess carried on with aid of power.\n(viii). The said Industrial Undertaking is not formed as a result of reconstruction\nor revival of the business.\n(ix). The production capacity of undertaking increased.\n(x). Production and Profit of the New industrial Undertaking is ascertainable

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

In the result, summarised and concise ground No

vii). The Undertaking employs more than ten workers in a manufacturing\nprocess carried on with aid of power.\n(viii). The said Industrial Undertaking is not formed as a result of reconstruction\nor revival of the business.\n(ix). The production capacity of undertaking increased.\n(x). Production and Profit of the New industrial Undertaking is ascertainable

THE ITO, WARD-2,, JUNAGADH vs. M/S D. JEWEL,, JUNAGADH

In the result, the appeal filed by the revenue is hereby dismissed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedअपील सं./Ita No.15/Rjt/2017 िनधा"रण वष"/Asstt. Year: 2013-2014 Income Tax Officer, M/S. D. Jewel, Ward-2, Vs. 1-Shishu Mangal Road, Junagadh. Gandhigram, Junagadh.

depreciation account, it was found that there was no plant and machinery used in the manufacturing of gold ornaments purchased. The items, shown in the financial statements under the head plant and machinery were representing CCTV, Godrej Safe, Excide Battery, Computer, EPABX, Water Pump etc. which are not used in the manufacturing activities. iii. To carry out the manufacturing activity

KRISHNA CONSTRUCTION CO,TALALA, JUNAGADH vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAJKOT

In the result, ground no.2(e ) raised by the assessee, is partly allowed

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं /.Ita No.608/Rjt/2024 "नधा"रणवष"/ Assessment Year: 2018-19 Krishna Construction Co. The Dcit, Cir.1(1) बनाम Below Dr.Antalas Hospital Rajkot. Station Road, Talala (Gir) Vs. Junagadh. Pan : Aaifk 8897 P (अपीलाथ"/Assessee) : (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee By : Shri R.D. Lalchandani, Ar राज"व क" ओर से/Revenue By : Shri Abhimanyu Singh Yadav, Sr.Dr सुनवाई क" तार"ख /Date Of Hearing : 22/01/2025 घोषणा क" तार"ख /Date Of Pronouncement : 28/03/2025 Order Per Dr. Arjun Lal Saini:

depreciation, petrol, insurance, repair Krishna Construction Co Vs. DCIT 9 expenses and interest on car loan by stating that some of the expenses are in the nature of personal and personal use of the motor car cannot be ruled out therefore, 1/4th of expenditure was disallowed, without bringing any cogent evidence on record, thus, the addition should not be sustained