THE DY. COMMR. OF INCOME TAX, CIR.-1(2), RAJKOT-GUJARAT vs. M/S D.M.L. EXIM PVT. LTD.,, RAJKOT-GUJARAT

Appeal is dismissed

Bench: Shri Waseem Ahmed& Ms. Madhumita Roy

2 - For the removal of doubts, it is hereby clarified that the obligation to comply with sub-section (1) and to make deduction thereunder applies and shall be deemed to have always applied and extends and shall be deemed to have always extended to all persons, resident or non-resident, whether or not the non-resident person

THE DY. COMMR. OF INCOME TAX, CIR.-1(2), RAJKOT-GUJARAT vs. M/S DML EXIM PVT. LTD.,, RAJKOT-GUJARAT

Appeal is dismissed

Bench: Shri Waseem Ahmed& Ms. Madhumita Roy

2 - For the removal of doubts, it is hereby clarified that the obligation to comply with sub-section (1) and to make deduction thereunder applies and shall be deemed to have always applied and extends and shall be deemed to have always extended to all persons, resident or non-resident, whether or not the non-resident person

M/S. D.M.L. EXIM PVT. LTD.,,RAJKOT-GUJARAT vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-5,, RAJKOT-GUJARAT

Appeal is dismissed

Bench: Shri Waseem Ahmed& Ms. Madhumita Roy

2 - For the removal of doubts, it is hereby clarified that the obligation to comply with sub-section (1) and to make deduction thereunder applies and shall be deemed to have always applied and extends and shall be deemed to have always extended to all persons, resident or non-resident, whether or not the non-resident person

SHRI GIRISHKUMAR VACHHRAJ DHOLAKIA,,JUNAGADH vs. THE PR. COMMISSIONER OF INCOME TAX-1, RAJKOT-GUJARAT

In the result, both the appeals filed by the assessee(s) are dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./ Ita No. 14/Rjt/2021 Assessment Year : 2015-2016 Shri Jugalkishore Natwarlal Pr. Commissioner Of Dholakia, Vs Income-Tax, C/O. Chokshi Vachhraj Makanji & Pcit-1, Rajkot Co., Shishumangal Road, Gandhigram, Junagadh-362001 Pan : Abqpd 2710 D आयकर अपील सं./ Ita No. 15/Rjt/2021 Assessment Year : 2015-2016 Shri Girishkumar Vachhraj Pr. Commissioner Of Dholakia, Vs Income-Tax, C/O. Chokshi Vachhraj Makanji & Pcit-1, Rajkot Co., Shishumangal Road, Gandhigram, Junagadh-362001 Pan : Abupd 6245 P अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Samir Jani, Ar Revenue By : Shri Vijay Kumar Jaiswal, Cit-Dr सुनवाई क" तारीख/Date Of Hearing : 01/05/2023 घोषणा क" तारीख /Date Of Pronouncement: 02/05/2023 आदेश/O R D E R Per Ms. Madhumita Roy:-

disallowance and ITA Nos. 14 & 15/Rjt/2021 Assessee : Jugalkishore N Dholakia & Girishkumar Vachhraj Dholakia AY : 2015-16 2 applicability of Section 14A

SHRI JUGALKISHORE NATWARLAL DHOLAKIA,JUNAGADH vs. THE PR. CIT-1, RAJKOT, RAJKOT

In the result, both the appeals filed by the assessee(s) are dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./ Ita No. 14/Rjt/2021 Assessment Year : 2015-2016 Shri Jugalkishore Natwarlal Pr. Commissioner Of Dholakia, Vs Income-Tax, C/O. Chokshi Vachhraj Makanji & Pcit-1, Rajkot Co., Shishumangal Road, Gandhigram, Junagadh-362001 Pan : Abqpd 2710 D आयकर अपील सं./ Ita No. 15/Rjt/2021 Assessment Year : 2015-2016 Shri Girishkumar Vachhraj Pr. Commissioner Of Dholakia, Vs Income-Tax, C/O. Chokshi Vachhraj Makanji & Pcit-1, Rajkot Co., Shishumangal Road, Gandhigram, Junagadh-362001 Pan : Abupd 6245 P अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Samir Jani, Ar Revenue By : Shri Vijay Kumar Jaiswal, Cit-Dr सुनवाई क" तारीख/Date Of Hearing : 01/05/2023 घोषणा क" तारीख /Date Of Pronouncement: 02/05/2023 आदेश/O R D E R Per Ms. Madhumita Roy:-

disallowance and ITA Nos. 14 & 15/Rjt/2021 Assessee : Jugalkishore N Dholakia & Girishkumar Vachhraj Dholakia AY : 2015-16 2 applicability of Section 14A

THE DY. COMMR. OF INCOME TAX, CIR.-1,, JAMNAGAR vs. M/S SEABIRD MARINE SERVICES P. LTD.,, JAMNAGAR

In the result, appeal of the Revenue is partly allowed

Bench: Ms. Suchitra Kamble & Shri Waseem Ahmed

disallowance under Section 14A has not given any satisfaction in the assessment order. The Ld. A.R. submitted that as per Section 14A(2

ATUL AUTO LIMITED,,RAJKOT-GUJARAT vs. THE DY. COMMR. OF INCOME TAX, CIR.-1(1),, RAJKOT-GUJARAT

The appeal is allowed

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

disallowance u/s 14A is neither automatic nor triggered merely because assessee has earned an exempt income. Hence, the assessing officer should record a satisfaction that the expenditure incurred in relation to non- taxable income as claimed is incorrect. The satisfaction should be demonstrated 'having regard to the accounts' of the assessee. This is the prescription of section 14A (2

THE DY. COMMR. OF INCOME TAX, CIR.-1(1), RAJKOT-GUJARAT vs. M/S ATUL AUTO LIMITED,, SHAPAR.VERAVAL

The appeal is allowed

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

disallowance u/s 14A is neither automatic nor triggered merely because assessee has earned an exempt income. Hence, the assessing officer should record a satisfaction that the expenditure incurred in relation to non- taxable income as claimed is incorrect. The satisfaction should be demonstrated 'having regard to the accounts' of the assessee. This is the prescription of section 14A (2

SMT. NIRMALABEN V. PATEL,JAMNAGAR vs. THE ACIT, CIRCLE-1 , JAMNAGAR

In the result, the appeal of the assessee is allowed

Bench: Ms. Annapurna Gupta (Accountant Member), Shri Siddhartha Nautiyal (Judicial Member)

section 14A of the Act is applicable to the case of the appellant. However, the exempt income of the appellant is only to the extent of Rs. 4,93,268/- and therefore, the disallowance of Rs. 10,19,529/- as made by the AO u/s. 14A of the Act is required to be reduced to such exempted income

SHRI MANOJ B. MANSUKHANI,,RAJKOT-GUJARAT vs. THE PR. COMMISSIONER OF INCOME TAX-1, , RAJKOT

In the result, the appeal of the assessee is allowed

2. The Ld. PCIT has erred in invoking the revisionary powers by stating that the AO has failed to make adequate inquiry w.r.t. to section 14A disallowance

HIMESH R. SHAH,JAMNAGAR. vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3,, JAMNAGAR.

In the result, the appeal of the assessee is allowed

Bench: Smt.Annapurna Gupta & Shri T.R.Senthil Kumarassessment Year : 2014-15 Himesh R. Shah Vs. Acit, Cir.3 Parikh & Co. Jamnagar. Ranjit Road Jamnagar 361 001. अपीलाथ"/ (Appellant) "" यथ"/(Respondent) Assessee By : Shri D.S. Varia, Ar Revenue By : Shri Shramdeep Sinha, Ld.Cit(Dr)

2 confirming the addition of Rs. . 6,30,455 made to total income by invoking the provisions of section 14A of the IT Act read with rule 8D of Income-Tax Rules made by the assessing officer on the facts and circumstances of the case. 3. That the learned CIT(Appeals) Jamnagar ought to have follow the judgments

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.

section 119(2) of the Income-tax Act, 1961, would bind the Revenue. No question of law, therefore, arises. 14.5 Admittedly, the facts of the case on hand are not in dispute. The AO has only disallowed the amount of amortisation of the securities which were held to maturity. In view of the above, we do not find any infirmity

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

disallowance of Rs.6,66,000/- against Rs.88,35,000/- under Section 14A of the Act, the same is already discussed hereinabove and hence the same is allowed. A.Ys. 2010-11 47. Thus, ITA No.457/RJT/2014 is partly allowed. 48. In the result, appeal filed by the Revenue is dismissed and appeal filed by the Assessee is partly allowed. Order pronounced

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

disallowance of Rs.6,66,000/- against Rs.88,35,000/- under Section 14A of the Act, the same is already discussed hereinabove and hence the same is allowed. A.Ys. 2010-11 47. Thus, ITA No.457/RJT/2014 is partly allowed. 48. In the result, appeal filed by the Revenue is dismissed and appeal filed by the Assessee is partly allowed. Order pronounced

SURESHKUMAR H. CHANDARANA,,RAJKOT-GUJARAT vs. THE INCOME TAX OFFICER, WARD-2(1)(5),, RAJKOT-GUJARAT

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकर अपील सं./Ita No. 192/Rjt/2017 िनधा"रण वष"/Asstt. Years: 2013-2014

2. The learned Commissioner of Income-tax (Appeals)-2 [hereinafter referred to as the ld.CIT(A)] erred on facts as also in law in confirming disallowance of interest expense of Rs.25,33,075/- u/s.14A r.w.s. 8D of the Act by holding that appellant has paid interest for funds borrowed which was invested in earning exempt income. The disallowance made

M/S RADHE RENEWABLE ENERGY DEVELOPMENT PVT. LTD.,,RAJKOT-GUJARAT vs. THE ASSTT. COMMR. INCOME TAX, CIRCLE-5,, RAJKOT-GUJARAT

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

section 14A r.w.Rule 8D(ii) of Income Tax Rules for Rs. 14,37,262 being 1% of the average investment. 47. However, the Assessing Officer has made the disallowance of Rs. 2

THE DEPUTY COMMR. INCOME TAX, CIRCLE-1(2),, RAJKOT vs. M/S RADHE RENEWABLE ENERGY DEVELOPMENT PVT. LTD.,, RAJKOT

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

section 14A r.w.Rule 8D(ii) of Income Tax Rules for Rs. 14,37,262 being 1% of the average investment. 47. However, the Assessing Officer has made the disallowance of Rs. 2

THE DY. COMMR. OF INCOME TAX, CIRCLE-1(1),, RAJKOT-GUJARAT vs. M/S. RADHE RENEWABLE ENERGY DEVELOPEMENT PVT. LTD.,, RAJKOT-GUJARAT

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

section 14A r.w.Rule 8D(ii) of Income Tax Rules for Rs. 14,37,262 being 1% of the average investment. 47. However, the Assessing Officer has made the disallowance of Rs. 2

RADHE RENEWABLE ENERGY DEVELOPMENT PVT LTD,RAJKOT vs. THE PCIT, RAJKOT-1, RAJKOT, RAJKOT

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

section 14A r.w.Rule 8D(ii) of Income Tax Rules for Rs. 14,37,262 being 1% of the average investment. 47. However, the Assessing Officer has made the disallowance of Rs. 2