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.

92,111/- and Rs.9,82,322/- in the Asstt.Years 2003-04 to 2005-06 respectively. 21. The AO has calculated interest at the rate of 12% which ought to have been charged by the assessee on the interest free advance given by her. Accordingly, he made disallowance. 22. On appeal, the ld.CIT(A)has deleted disallowance made

UMA COTTON & OIL INDUSTRIES,,RAJKOT-GUJARAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX (OSD), RANGE-2,, RAJKOT-GUJARAT

In the result, the appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No.13/Rjt/2013 "नधा"रण वष"/Asstt. Year: 2008-2009

depreciation for A.Y. 2006-07 from the assessed income. The same may kindly be allowed. 6.0 Your Honor's appellant craves leave to add, amend, alter or withdraw any or more grounds of appeal on or before the hearing of appeal. 2. The effective issue raised by the assessee is that the learned CIT (A) erred in confirming the order

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

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 145(3) of the Act, It is settled law that unless the book result is rejected, trading additions could not be made. (e) It is the essence of the decision of Hon'ble Tribunal, Rajkot Bench, Rajkot the case of Girish M, Mehta (2006) 99 TTJ (Rajkot) 394 that the significant mistakes in vouchers cannot be 3 base

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

section 36(1)(viia) of the Act of an amount of Rs.57,00,750/- being the lower of (i) Rs.39,55,57,997/- being 7.5% of total income after depreciation i.e. (a) Rs.32,22,897/- and 10% average advances of nRs.3,92

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

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

Appeal of the Revenue is partly allowed

92,550/-. 28. Ground of appeal No.4 is dismissed. 29 . Ground no. 5 raised by the Revenue reads as under: The Ld.CIT(A) erred on facts and in law in deleting Rs.36,61,656/- made by AO on account of disallowance u/s 40(a)(ia) freight expenses. 30. Briefly stated the disallowance pertained to transportation/freight charges of Rs.36

THE ASSTT. COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE,, GANDHIDHAM vs. M/S RISHI KIRAN LOGISTICS P. LTD.,, GANDHIDHAM

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

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed)

depreciation would be NIL and disallowed the claim of deduction u/s 80IA of the Act. (iii) Disallowed the claim of deduction u/s 80IA of Rs. 37,92,256/- by alleging that profit of wind mill, eligible for deduction u/s 80IA(4) of the Act becomes NIL after absorption of earlier years' losses/depreciation. ITA Nos.160/Rjt/15 5 & ITA 349 & 379/Ahd/2016 . A.Ys

M/S. RISHI KIRAN LOGISTICS PVT. LTD.,,GANDHIDHAM vs. THE JOINT COMMR. OF INCOME TAX,, GANDHIDHAM

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

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed)

depreciation would be NIL and disallowed the claim of deduction u/s 80IA of the Act. (iii) Disallowed the claim of deduction u/s 80IA of Rs. 37,92,256/- by alleging that profit of wind mill, eligible for deduction u/s 80IA(4) of the Act becomes NIL after absorption of earlier years' losses/depreciation. ITA Nos.160/Rjt/15 5 & ITA 349 & 379/Ahd/2016 . A.Ys

THE DHARANGADHRA PEOPLE'S CO. OP. BANK LTD.,,DHRANGADHRA vs. THE DY. COMMR. INCOME TAX, SURENDRANAGAR CIRCLE,, SURENDRANAGAR

In the result, the appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./I.T.A. Nos.130-131/Rjt/2017 ("नधा"रण वष" / Assessment Years: 2012-13 & 2013-14) बनाम/ The Dharangadhra People’S D.C.I.T, Co-Op. Bank Ltd., Surendranagar Circle, Vs. Kalpvarksh, Mandvi Chowk, Surendranagar. Dhrangadhara, Surendranagar Circle, Surendranagar. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaat1192R (अपीलाथ" /Appellant) (""यथ" / Respondent) .. अपीलाथ" ओर से / Appellant By : Shri D.M. Rindani, A.R ""यथ" क" ओर से/Respondent By : Shri Anil Kumar, Sr. D.R सुनवाई क" तार"ख / Date Of Hearing 20/09/2019 घोषणा क" तार"ख /Date Of Pronouncement 18/12/2019 आदेश / O R D E R Per Waseem Ahmed: The Captioned Appeal Has Been Filed At The Instance Of The Assessee Against The Separate Order Of The Learned Commissioner Of Income Tax (Appeals)-7, Ahmedabad [Ld. Cit(A) In Short] Of Even Dated 01/02/2017, Arising In The Matter Of Assessment Order Passed Under S. 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As "The Act") Dated 16/02/2015 & 27/11/2015 Relevant To Assessment Years (A.Y.S) 2012-13 & 2013-14 Respectively.

92 TTJ 300 wherein it was held as under: “In the instant case, the entries made in the assessee’s books of account in that behalf were strictly in accordance with the guidelines issued by General Insurance Corporation. Those guidelines permitted the assessee to book a loss which had, for all practical purposes, been suffered on account of depreciation

THE ACIT, CIRCLE-1,, RAJKOT-GUJARAT vs. CHAMPION AGRO LTD., FORMERLY KNOWN AS MAGNETIC INDS. LTD.,, RAJKOT-GUJARAT

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकर अपील सं./Ita No. 504/Rjt/2013 िनधा"रण वष"/Asstt. Years: 2008-2009 & आयकर अपील सं./Ita No. 78/Rjt/2014 िनधा"रण वष"/Asstt. Years: 2009-2010

Depreciation, advertisement expenses, administrative expenses, etc for calculating disallowance as per Rule 8D. Brief Points to be considered by the Hon’ble ITAT, Rajkot Bench, 1. The CIT(Appeals] did not considered the fact that the agreements between the farmers and the assessee company are on plain paper and not on non-judicial stamp paper as also not notarized

THE ASSISTANT COMISSIONER OF INCOME TAX, CIRCLE-1,, RAJKOT-GUJARAT vs. M/S. CHAMPION AGRO LTD.,,

In the result appeal of the Revenue is hereby partly allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकर अपील सं./Ita No. 504/Rjt/2013 िनधा"रण वष"/Asstt. Years: 2008-2009 & आयकर अपील सं./Ita No. 78/Rjt/2014 िनधा"रण वष"/Asstt. Years: 2009-2010

Depreciation, advertisement expenses, administrative expenses, etc for calculating disallowance as per Rule 8D. Brief Points to be considered by the Hon’ble ITAT, Rajkot Bench, 1. The CIT(Appeals] did not considered the fact that the agreements between the farmers and the assessee company are on plain paper and not on non-judicial stamp paper as also not notarized

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

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

92 283 Repairs & maintenance 3 40 882 25 61 698 Other mfg. expenses 58 76 989 49 00 203 7 50 40 850 5 55 74 943 Credit of Wind farm on Units Generated 1 05 91 915 1 15 89 169 Depreciation Related

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

92,337/-. Therefore, this tantamount to double disallowance. There is no need to interfere with the findings of the CIT(A). Ground no.10 of Revenue’s appeal is dismissed. 36. Thus, ITA No.476/RJT/2014 filed by the Revenue is dismissed. 37. Now coming to the assessee’s appeal ITA No.457/RJT/2014, ground no.1 is related to disallowance of Rs.8,304/- being depreciation

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

92,337/-. Therefore, this tantamount to double disallowance. There is no need to interfere with the findings of the CIT(A). Ground no.10 of Revenue’s appeal is dismissed. 36. Thus, ITA No.476/RJT/2014 filed by the Revenue is dismissed. 37. Now coming to the assessee’s appeal ITA No.457/RJT/2014, ground no.1 is related to disallowance of Rs.8,304/- being depreciation

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

92,60,168/-(W.D. V as at 30/03/2011).” 17.2 The assessee has also made available to the AO the copies of the sales bills and other supporting evidences to justify the higher amount of gross profit. Such details can be verified from pages 24 to 25 of the paper book. 17.3 All the above details were available but the same

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

92,60,168/-(W.D. V as at 30/03/2011).” 17.2 The assessee has also made available to the AO the copies of the sales bills and other supporting evidences to justify the higher amount of gross profit. Such details can be verified from pages 24 to 25 of the paper book. 17.3 All the above details were available but the same

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

Depreciation claimed 1,78,82,307 1,51,65,107 5 WDV 7,85,31,109 9,83,31,838 Manufacturing Sales, Job Work Income and Material Consumption at Rudrapur Unit: No. Particulars FY 08-09 FY 09-10 1 Sales 4,79,26,914 14,46,11,771 2 Jobwork Income 0 6,59,264 Total Income Manufacturing