THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, RAJKOT vs. SHRI PANKAJ CHIMANLAL LODHIYA, RAJKOT

In the result, assessee's ground No

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinha

disallowance made by assessing officer is explanation given by assessee of dr/cr entries in cash and metals ledger. 18.2 According to which each Dr. entry in the metal ledger is quantity released by SB and each Cr. entry is quantity lifted by the assessee. Since the order entry and reversal entry thereof was debited and credited in the metal ledger

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, RAJKOT vs. SHRI PANKAJ CHIMANLAL LODHIYA, RAJKOT

In the result, assessee's ground No

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinha

disallowance made by assessing officer is explanation given by assessee of dr/cr entries in cash and metals ledger. 18.2 According to which each Dr. entry in the metal ledger is quantity released by SB and each Cr. entry is quantity lifted by the assessee. Since the order entry and reversal entry thereof was debited and credited in the metal ledger

SHRI BHARATKUMAR IASHWARBHAI BHATIYA,RAJKOT vs. THE ACIT, CENTRAL CIRL-1,, RAJKOT

In the result, appeals filed by the Revenue, in ITA No

Bench: Dr. Arjun Lal Saini & Dinesh Mohan Sinhaआयकर अपील सं./Ita No. 134 & 135/Rjt/2023 (िनधा"रणवष" / Assessment Years: (2007-08 & 2008-09) Income Tax Officer, Ward- Shri Kherajmal Lekhrajbjai 5Th 1(2)(1), Aaykar Bhavan, Thavrani, 4- Parsana Nagar, Shri Vs. Floor, Room No. 517, Race Vaheguru Grupa, Near Refugee Course Ring Road, Rajkot-360 Colony, Rajkot-360 001 001 "थायी लेखा सं./जी आइ आर सं./Pan/Gir No.: Adrpt 5807 E (Appellant) (Respondent)

unexplained cash belonging to the assessee, and tax the same in its hands. The total of cash deposits made into the above mentioned bank accounts for the year under consideration, runs to Rs 84,93,54,606/-, which is added to the assessee's returned income. Penalty proceedings u/s. 271 (1)(c) of the IT Act is initiated for concealing

THE INCOME TAX OFFICER-WARD-2,, JUNAGADH vs. SHRI DAMJIBHAI LEKHRAJBHAI THAVRANI,, JUNAGADH

unexplained cash\nbelonging to the assessee, and tax the same in its hands. The total of cash\ndeposits made into the above mentioned bank accounts for the year under\nconsideration, runs to Rs 84,93,54,606/-, which is added to the assessee's\nreturned income. Penalty proceedings u/s. 271 (1)(c) of the IT Act is initiated\nfor concealing

SHRI VISHAL MEHTA ,RAJKOT vs. THE ITO WARD-2 (1) (2), RAJKOT

Appeals of the assessee are allowed for statistical purposes, in above terms

Bench: Dr. Arjun Lal Sainiand Shri Dinesh Mohan Sinhaआयकर अपीलसं/.Ita No.74 To 77/Rjt/2024 "नधा"रण वष"/ Assessment Years: (2012-13 To 2015-2016) Vishal Mehta Income Tax Officer, बनाम Pravin Chamber, 1St Floor, Ward-2(1)(2), Rajkot Kothariya Naka Soni Bazar, Vs. Rajkot-360 001 Pan/Gir No.Ahtpm 7247 B "थायीलेखासं /. जीआइआरसं /. (अपीलाथ"/Appellant) .. (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee By : Shri Chetan Agarwal, Ar & Shri Brijesh Parekh, Ar राज"व क" ओर से/Revenue By : Shri Sanjay Punglia, Cit-Dr & Shri Abhimanyhu Singh, Sr-Dr

disallowance in the assessment proceedings; Hence, such ‘illegal cash payment transactions” is added and abetted by the assessee and his associates whereby the purchaser deposits the differential cash amount in the bank a/c of the assessee. The assessee is contacted by the seller about the said deposit or informed by the purchaser about it. The assessee verifies the deposits

SHRI VISHAL MEHTA ,RAJKOT vs. THE ITO WARD-2(1) (2) RAJKOT, RAJKOT

Appeals of the assessee are allowed for statistical purposes, in above terms

Bench: Dr. Arjun Lal Sainiand Shri Dinesh Mohan Sinhaआयकर अपीलसं/.Ita No.74 To 77/Rjt/2024 "नधा"रण वष"/ Assessment Years: (2012-13 To 2015-2016) Vishal Mehta Income Tax Officer, बनाम Pravin Chamber, 1St Floor, Ward-2(1)(2), Rajkot Kothariya Naka Soni Bazar, Vs. Rajkot-360 001 Pan/Gir No.Ahtpm 7247 B "थायीलेखासं /. जीआइआरसं /. (अपीलाथ"/Appellant) .. (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee By : Shri Chetan Agarwal, Ar & Shri Brijesh Parekh, Ar राज"व क" ओर से/Revenue By : Shri Sanjay Punglia, Cit-Dr & Shri Abhimanyhu Singh, Sr-Dr

disallowance in the assessment proceedings; Hence, such ‘illegal cash payment transactions” is added and abetted by the assessee and his associates whereby the purchaser deposits the differential cash amount in the bank a/c of the assessee. The assessee is contacted by the seller about the said deposit or informed by the purchaser about it. The assessee verifies the deposits

SHRI VISHAL MEHTA,RAJKOT vs. THE ITO WARD-2(1) (2) , RAJKOT

Appeals of the assessee are allowed for statistical purposes, in above terms

Bench: Dr. Arjun Lal Sainiand Shri Dinesh Mohan Sinhaआयकर अपीलसं/.Ita No.74 To 77/Rjt/2024 "नधा"रण वष"/ Assessment Years: (2012-13 To 2015-2016) Vishal Mehta Income Tax Officer, बनाम Pravin Chamber, 1St Floor, Ward-2(1)(2), Rajkot Kothariya Naka Soni Bazar, Vs. Rajkot-360 001 Pan/Gir No.Ahtpm 7247 B "थायीलेखासं /. जीआइआरसं /. (अपीलाथ"/Appellant) .. (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee By : Shri Chetan Agarwal, Ar & Shri Brijesh Parekh, Ar राज"व क" ओर से/Revenue By : Shri Sanjay Punglia, Cit-Dr & Shri Abhimanyhu Singh, Sr-Dr

disallowance in the assessment proceedings; Hence, such ‘illegal cash payment transactions” is added and abetted by the assessee and his associates whereby the purchaser deposits the differential cash amount in the bank a/c of the assessee. The assessee is contacted by the seller about the said deposit or informed by the purchaser about it. The assessee verifies the deposits

SHRI VISHAL MEHTA,RAJKOT vs. THE ITO WARD-2 (1) (2), RAJKOT, RAJKOT

Appeals of the assessee are allowed for statistical purposes, in above terms

Bench: Dr. Arjun Lal Sainiand Shri Dinesh Mohan Sinhaआयकर अपीलसं/.Ita No.74 To 77/Rjt/2024 "नधा"रण वष"/ Assessment Years: (2012-13 To 2015-2016) Vishal Mehta Income Tax Officer, बनाम Pravin Chamber, 1St Floor, Ward-2(1)(2), Rajkot Kothariya Naka Soni Bazar, Vs. Rajkot-360 001 Pan/Gir No.Ahtpm 7247 B "थायीलेखासं /. जीआइआरसं /. (अपीलाथ"/Appellant) .. (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee By : Shri Chetan Agarwal, Ar & Shri Brijesh Parekh, Ar राज"व क" ओर से/Revenue By : Shri Sanjay Punglia, Cit-Dr & Shri Abhimanyhu Singh, Sr-Dr

disallowance in the assessment proceedings; Hence, such ‘illegal cash payment transactions” is added and abetted by the assessee and his associates whereby the purchaser deposits the differential cash amount in the bank a/c of the assessee. The assessee is contacted by the seller about the said deposit or informed by the purchaser about it. The assessee verifies the deposits

THE DEPUTY COMMR. OF INCOME TAX, CEN. CIR.1,, RAJKOT vs. JAYESH HARAKHJI PATEL,, RAJKOT

In the result, all appeals filed by the different assessee's and Revenue\nare allowed for statistical purposes

unexplained cash\nbelonging to the assessee, and tax the same in his hands. The total of cash\ndeposits made into the above mentioned bank accounts for the year under\nconsideration, runs to Rs 4,92,45,263/- for account No. 015305001905\nand Rs. 10,37,27,193/- for account No. 015305003488, aggregating to\nRs.15,29,72,456/-, which was added

THE ITO WARD-1 (2) (1),, RAJKOT vs. SHRI KHRAJMAL LEKHRAJBHAI THAVRANI, RAJKOT

unexplained cash\nbelonging to the assessee, and tax the same in its hands. The total of cash\ndeposits made into the above mentioned bank accounts for the year under\nconsideration, runs to Rs 84,93,54,606/-, which is added to the assessee's\nreturned income. Penalty proceedings u/s. 271 (1)(c) of the IT Act is initiated\nfor concealing

BHARATKUMAR ISHWARBHAI BHATIYA,,RAJKOT vs. ASSTT. COMMR. OF INCOME TAX, CEN. CIR.-1,, RAJKOT

unexplained cash\nbelonging to the assessee, and tax the same in its hands. The total of cash\ndeposits made into the above mentioned bank accounts for the year under\nconsideration, runs to Rs 84,93,54,606/-, which is added to the assessee's\nreturned income. Penalty proceedings u/s. 271 (1)(c) of the IT Act is initiated\nfor concealing

THE INCOME TAX OFFICER-WARD-2,, JUNAGADH vs. SHRI DAMJIBHAI LEKHRAJBHAI THAVRANI,, JUNAGADH

unexplained cash\nbelonging to the assessee, and tax the same in its hands. The total of cash\ndeposits made into the above mentioned bank accounts for the year under\nconsideration, runs to Rs 84,93,54,606/-, which is added to the assessee's\nreturned income. Penalty proceedings u/s. 271 (1)(c) of the IT Act is initiated\nfor concealing

SHRI BHARATKUMAR ISHWARBHAI BHATIYA,RAJKOT-GUJARAT vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1,, RAJKOT-GUJARAT

unexplained cash\nbelonging to the assessee, and tax the same in its hands. The total of cash\ndeposits made into the above mentioned bank accounts for the year under\nconsideration, runs to Rs 84,93,54,606/-, which is added to the assessee's\nreturned income. Penalty proceedings u/s. 271 (1)(c) of the IT Act is initiated\nfor concealing

THE INCOME TAX OFFICER-WARD-2,, JUNAGADH vs. SHRI DAMJIBHAI LEKHRAJBHAI THAVRANI,, JUNAGADH

unexplained cash\nbelonging to the assessee, and tax the same in its hands. The total of cash\ndeposits made into the above mentioned bank accounts for the year under\nconsideration, runs to Rs 84,93,54,606/-, which is added to the assessee's\nreturned income. Penalty proceedings u/s. 271 (1)(c) of the IT Act is initiated\nfor concealing

SHRI BHARATKUMAR IASHWARBHAI BHATIYA,RAJKOT vs. THE ITO, WARD-1 (1) (2),, RAJKOT

unexplained cash\nbelonging to the assessee, and tax the same in its hands. The total of cash\ndeposits made into the above mentioned bank accounts for the year under\nconsideration, runs to Rs 84,93,54,606/-, which is added to the assessee's\nreturned income. Penalty proceedings u/s. 271 (1)(c) of the IT Act is initiated\nfor concealing

SHRI BHARATKUMAR IASHWARBHAI BHATIYA,RAJKOT vs. THE ITO, WARD-1 (1) (2),, RAJKOT

unexplained cash\nbelonging to the assessee, and tax the same in its hands. The total of cash\ndeposits made into the above mentioned bank accounts for the year under\nconsideration, runs to Rs 84,93,54,606/-, which is added to the assessee's\nreturned income. Penalty proceedings u/s. 271 (1)(c) of the IT Act is initiated\nfor concealing

THE DY. COMMR. OF INCOME TAX, CEN. CIR.-1,, RAJKOT vs. BHARATKUMAR ISHWARBHAI BHATIYA,, RAJKOT

unexplained cash\nbelonging to the assessee, and tax the same in its hands. The total of cash\ndeposits made into the above mentioned bank accounts for the year under\nconsideration, runs to Rs 84,93,54,606/-, which is added to the assessee's\nreturned income. Penalty proceedings u/s. 271 (1)(c) of the IT Act is initiated\nfor concealing

THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, RAJKOT vs. SHRI PANKAJ CHIMANLAL LODHIYA, RAJKOT

Appeals are dismissed, Assessee's appeals are partly allowed

credit entries in foreign bank accounts, unallocated gold/silver accounts, cash/premium payments, unexplained investments, disallowance of interest, purchase of cheques/DDs, validity of section 153A assessment, deemed rental income, unexplained cash credits, and unaccounted stock of gold bullion were addressed. The Tribunal found that the CIT(A)'s orders were generally in favour of the assessee, especially when the revenue failed