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 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

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In the result, the appeal of the assessee is dismissed as withdrawn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

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\nRs.2,29,552/- was not allowed by the CPC-AO in Assessment Year 2021-22\nand disallowed

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

INCOME TAX OFFICER, MORBI vs. MAHENDRAKUMAR BHAGVANDAS RANPURA, MORBI

set off of any loss] shall be allowed to the respondent\nassessee under any provision of this Act in computing his income referred to in clause\n(a) of sub-section (1).]\"\nAfter the amendment total income includes additional income as voluntarily declared\nby the assessee in the return of total income whereas the amount of addition made

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

In the result, appeal filed by the assessee is dismissed

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

M/S. SHAZ ENTERPRISE,,RAJKOT vs. THE INCOME TAX OFFICER, WARD-2(1)(1),, RAJKOT

In the result, the appeal filed by the Assessee is hereby allowed for statistical purposes

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

disallowance of Rs.68,80,958/- being the loss incurred on NSEL trading. The ld. CIT(A) has erred in treating the said loss as speculative loss. 3. The learned Assessing Officer has erred in law as well as on facts in not granting the deduction of Rs.68,80,958/- as bad debts alternatively claimed by the appellant

VINODBHAI SUNDERJIBHAI KANSAGARA,DIST. MORBI vs. ACIT, CIRCLE, MORBI, INCOME-TAX OFFICE,

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

Bench: Shri Waseem Ahmed (Accountant Member), Shri Siddhartha Nautiyal (Judicial Member)

disallowance of interest made as above. The Action of the AO in treating the business loss as speculative one is totally "unjustified particularly when the same was not the issue in limited scrutiny. The action of AO in treating the genuine business loss as speculative and not allowing set

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

disallowance of deduction u/s 801C of the I.T. Act of Rs.40,17,063/- made by the AO after set off the loss

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

disallowance of deduction u/s 801C of the I.T. Act of Rs.40,17,063/- made by the AO after set off the loss

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

disallowance of deduction u/s 801C of the I.T. Act of Rs.40,17,063/-, made by the AO after set off the loss