MANISH GYANCHAND JAIN,GANDHIDHAM vs. ASSTT. COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE, , GANDHIDHAM

In the result the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

disallowance of the loss claimed against the share trading activity which was set of against the profit from the shipping

SHRI MANISH GYANCHAND JAIN ,GANDHIDHAM vs. THEACIT, GANDHIDHAM CIRCLE, GANDHIDHAM

In the result the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

disallowance of the loss claimed against the share trading activity which was set of against the profit from the shipping

MANISH GYANCHAND JAIN,GANDHIDHAM vs. ASSTT. COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE, , GANDHIDHAM

In the result the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

disallowance of the loss claimed against the share trading activity which was set of against the profit from the shipping

MANISH GYANCHAND JAIN,GANDHIDHAM vs. ASSTT. COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE, , GANDHIDHAM

In the result the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

disallowance of the loss claimed against the share trading activity which was set of against the profit from the shipping

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

set off of any expenditure was to be allowed to the assessee. We have noted that the AO has relied heavily on the decision of the Hon’ble jurisdictional High Court in the case of Fakir Mohmed Haji Hasan Vs. CIT, (2001) 247 ITR 290 (Guj) in support. 4 7. The ld.counsel for the assessee, on the otherhand, has pointed

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.

set off of loss of Rs.2,31,857/-for Asst Year 2005-06 and Rs.16,71,665/- for Asst. Year 2006-07 as claimed by the appellant. The AO has given a very clear finding for the disallowance

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

disallowed setting off losses of Rs. 8,33,500/- considering it as business loss for the AY 1996- 97, while

SHREE MEENAWALA CASTING,RAJKOT vs. THE PCIT, RAJKOT-1, RAJKOT, RAJKTO

In the result, the appeal of the assessee is allowed

set off losses of Rs.58,86,823/- availed by the assessee firm in the current year i.e. Assessment Year 2017-18 was irregular and required to disallowed

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

set aside I and that of Assessing Officer be restored. 3. The first ground of appeal is against the disallowance of loss

M/S. DEENDAYAL PORT TRUST (ERSTWHILE KANDLA TRUST PORT),,GANDHIDHAM vs. THE ADDL. COMMISSIONER OF INCOME TAX (EXEMPTIONS), GANDHIDHAM RANGE,, GANDHIDHAM

In the result, the appeal of the assessee is dismissed as withdrawn

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

disallowance of entire brought forward loss of AY 2005-06 for which no notice was issued to assessee u/s 154 of the IT Act, 1961. Deendayal Port Trust vs. ADDL.CIT Asst.Year –2006-07 2. The CIT(A) erred in law in holding that assessee is not entitled to setting

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

set up by the Government of India certifying the loss normally occurring in washing the salt and the finding of the said authority also corroborated by the certificate issued by Surveyors & Loss Assessors appointed to examine and verily the losses suffered (in quantitative terms) in washing of salt. The AO has not dealt with the appellant's explanation

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

set up by the Government of India certifying the loss normally occurring in washing the salt and the finding of the said authority also corroborated by the certificate issued by Surveyors & Loss Assessors appointed to examine and verily the losses suffered (in quantitative terms) in washing of salt. The AO has not dealt with the appellant's explanation

SHRI VISHWAJIT N. MASHRU,RAJKOT vs. THE ITO-WARD-1 (2) (3), RAJKOT

In the result, the appeal of the assessee is allowed in above terms

Bench: Smt.Annapurna Gupta & Ms. Madhumita Roy

disallowance of losses of Rs.32,60,489/- on account of trading in derivative and set-off of the same against

M/S. GREEN EARTH BIOGAS PVT. LTD.,SURENDRANAGAR vs. THE PR. CIT-3, AHMEDABAD, AHMEDABAD

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपीलसं./Ita No.185/Rjt/2023

set of facts and reasons, the Hon'ble Tribunal was pleased to condone the delay of 211 days by holding as under: "3. We have heard both the parties on this preliminary issue. Having regard to the reasons given in the application for condonation of delay, we are of the considered opinion that assessee was under a bona fide belief

SHRI JASUBHAI MANILAL THAKKAR, RAJKOT,AHMEDABAD vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2,, RAJKOT-GUJARAT

In the result, the appeal filed by the assessee in ITA No

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकर अपील सं./Ita Nos. 404-405/Rjt/2014 िनधा"रण वष"/Asstt. Years: 2009-2010 & 2010-2011 Late Shri Jashubhai M. Thakkar, A.C.I.T., By L/H Dinesh J. Thakkar, Vs. Circle-2, C/O Ketan H. Shah, Rajkot. 512, Times Square-I, Opp. Rambaug Bunglow, Thaltej Shilaj Road, Thaltej, Ahmedabad.

disallowing the set off against the brought forward losses. 4. The facts in brief are that the assessee in the present

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

set off ITA Nos.27/RJT/2016& 360,315/Rjt/2015 A.Y.2011-12,2012-13 against the profit generated from regular business and upon holding the contract cancellation charges of Rs. 2,80,05,500/- as speculation loss he ultimately disallowed

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

set off ITA Nos.27/RJT/2016& 360,315/Rjt/2015 A.Y.2011-12,2012-13 against the profit generated from regular business and upon holding the contract cancellation charges of Rs. 2,80,05,500/- as speculation loss he ultimately disallowed

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

set off ITA Nos.27/RJT/2016& 360,315/Rjt/2015 A.Y.2011-12,2012-13 against the profit generated from regular business and upon holding the contract cancellation charges of Rs. 2,80,05,500/- as speculation loss he ultimately disallowed

JASUMATIBEN LALITCHANDRA SHAH,RAJKOT vs. INCOME TAX OFFICER, RAJKOT

In the result, the appeal of the assessee is allowed for statistical purpose

set off of carry forward loss to the tune of Rs.2,29,552/- was not allowed by the CPC-AO in Assessment Year 2021-22 and disallowed