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

depreciation and investment allowances under section 32AC of the Act submitted that in response to notice under section 142(1) of the Act, the assessee vide annexure -13 furnished complete details of assets purchased. The AO after verification of the same and considering the voluminous of data and being first year of e-assessment allowed the claim of the assessee

SHRI PRAKASH J. BAGDAI,RAJKOT vs. THE ITO-WD-16(1)(1), MUMBAI, PRESENT JURISDICTION WITH ITO-WARD-1 (2)(4), RAJKOT

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकर अपील सं./Ita No. 138/Rjt/2020 िनधा"रण वष"/Asstt. Years: 2007-2008 Prakash J. Bagdai, I.T.O., C/O M.N. Manvar & Co., Vs. Ward-16(1)(1), Chartered Accountant, Mumbai. 504-Star Plaza, (Present Jurisdiction With Phulchhab Chowk, I.T.O, Rajkot. Ward-1(2)(4), Rajkot.)

97,770 on alleged ground that W.D.V. as on 31/03/2007 as per Balance Sheet and as per depreciation chart is different and depreciation provided in Profit & Loss A/c is Rs. 5,39,952 and further, Note - 1 under depreciation chart reads as "During the year until has not started it's commercial activity, hence no depreciation is claimed

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:

section 40(a)(ia) of the Act. The disallowance is not justified, [e] The disallowance of Rs. 69,40,248/- being 20% on ad hoc basis out of direct expenses. The disallowance is not justified.” 3. The first grievance of the assessee, is that the ld.CIT(A) has erred in confirming the disallowance made by the assessing officer

THE DY. COMMR. OF INCOME TAX, CIRCLE-3(1),, RAJKOT-GUJARAT vs. M/S SAURASHTRA GRAMIN BANK,, RAJKOT-GUJARAT

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royअपील सं./Ita No.376/Rjt/2016 िनधा"रण वष"/Asstt. Year: 2012-2013 D.C.I.T., M/S. Saurashtra Gramin Bank, Circle-3(1), Vs. Gopalnaga, Opp. Andh Mahila Rajkot. Vikas Gruh, Rajkot.

97,440/-as a disallowance under Section 14A had to be rejected. Taikisha says that the jurisdiction to proceed further and determine amounts is derived after examination of the accounts and rejection if any of the assessee's claim or explanation. The second aspect is there appears to have been no scrutiny of the accounts by the AO -an aspect

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

97,617/-, it is clarified that all the cars are used at Rajkot unit only. In Rudrapur unit 1, depreciation on motor care of 1,54,016/- (1,04,546 + 49,470) and those cars at Rudrapar unit 1 only. As all motor car depreciation expenses of respective units borne by, itself there is no requirement of apportionment of motor

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

97,617/-, it is clarified that all the cars are used at Rajkot unit only. In Rudrapur unit 1, depreciation on motor care of 1,54,016/- (1,04,546 + 49,470) and those cars at Rudrapar unit 1 only. As all motor car depreciation expenses of respective units borne by, itself there is no requirement of apportionment of motor

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

97 crore interest expenditure in short term loans. A profit margin of 23%. However, in the case of long-termEligible Business, the assessee has shown 90 crores interest income from 48 crores interest expenditure. A profit margin of THE ACIT CIR.1(1) RAJKOT 47%. How can the profit margin vary from 23% to 47% unless the allocation of interest expenditure

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

97,590/- treating the same as income from other sources by invoking provision of section 145(3). 2. The Ld.CIT(A)-II, Rajkot has erred in law and on fact by the disallowance u/s.14A of Rs.2,13,86,301/- made in assessment order holding that certain expenses, viz, Employee cost, Depreciation

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

97,590/- treating the same as income from other sources by invoking provision of section 145(3). 2. The Ld.CIT(A)-II, Rajkot has erred in law and on fact by the disallowance u/s.14A of Rs.2,13,86,301/- made in assessment order holding that certain expenses, viz, Employee cost, Depreciation

THE ACIT CIRCLE- 1 (1), RAJKOT vs. M/S. MICRO MELT PVT. LTD. , SHAPAR (VERAVAL), RAJKOT

In the result, the appeal of the Department is dismissed

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

97, while the assesses insisted the amount was unabsorbed ACIT vs. M/s. Micro Melt Pvt. Ltd. Asst.Year –2005-06 depreciation. The assessee filed an application u/s 154 of the IT Act before the AO on 21.12.2010, requesting allowance of set off of unabsorbed depreciation of Rs. 8,33,500/-, However, the AO vide his order dated 03.03.2017 dismissed the application

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

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 115JB of IT Act, 1961. 2. Thereafter, Pr. Commissioner of Income Tax-3, Rajkot found some discrepancies in passed assessment and on the basis of their judgement, order

VRAJ AND VAJ CONSTRUCTION,JAMNAGAR vs. THE ACIT, CIRCLE - 2, JAMNAGAR

In the result, appeal filed by the Assessee is allowed

97,200/- making disallowance u/s. 36(1)(va), disallowance u/s. 40(a)(ia) addition of short contract receipts and disallowance of depreciation on JCB machines. The Assessing Officer initiated penalty proceedings on the above disallowances and levied minimum penalty of Rs. 81,725/- being the tax sought to be evaded on concealed income. 3. Aggrieved against the same the assessee

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

section 143(3) of the Income Tax Act, 1961 (in short “the Act”), vide order dated 29.12.2019. 2. Grounds of appeal raised by the assessee are as follows (ITA No. 99/Rjt/2023- A.Y. 2015-16) : “1. The learned CIT(A) has erred in law and on facts in confirming the disallowance of Rs. 3,63,690/- being the depreciation claimed

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

section 143(3) of the Income Tax Act, 1961 (in short “the Act”), vide order dated 29.12.2019. 2. Grounds of appeal raised by the assessee are as follows (ITA No. 99/Rjt/2023- A.Y. 2015-16) : “1. The learned CIT(A) has erred in law and on facts in confirming the disallowance of Rs. 3,63,690/- being the depreciation claimed

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

section 43(5). It is immaterial whether transaction is carried out at the recognized stock exchange or not. Even the circular of CBDT cited in the assessment order states that once it is established that the assessee has entered in the transaction of the commodity that they deal the other technical details have no material impact. Hence, this reasoning

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