LATE SMT. PRITI A. GANDHI L/R. SHRI ANILBHAI A. GANDHI, RAJKOT,RAJKOT vs. THE PR. CIT-1, RAJKOT, RAJKOT

11,490/-. Subsequently the\nassessment was reopened as information was received that assessee has\nindulged into script of shell company and had claimed long term capital gain\non sale of shares of Devika Proteins Limited to the tune of Rs. 2,10,474/- and\nthat the amount was claimed as exemption under section 10(38) of the Income-\ntax

SOPAN DEVELOPERS,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 Nautiyalआयकर अपील सं./I.T.A. No.96/Rjt/2022 ("नधा"रण वष" / Assessment Year 2017-18)

11,66,89,586.00. Undisputedly, the BU permission was received by the assessee in the year under consideration. Accordingly the Ld. PCIT was of the view that the assessee was liable to declare the income under the head income from house property on notional basis under section

M/S CHANDRAKANT H. KAKKAD,,RAJKOT-GUJARAT vs. THE INCOME TAX OFFICER, WARD-4(2),, RAJKOT-GUJARAT

In the result, this ground of the assessee’s appeal is allowed

house for purchase of another residential property prior to due date of filing of return of income under section 139(4), his claim for exemption under section 54 was to be allowed 8. Respectfully following the decision of various High Court/Tribunals on this issue, we are hereby allowing this ground of appeal of the assessee. 9. The next issue

THE DCIT, (EXEMPTION) CIRCLE-2,, AHMEDABAD vs. GYANGANGA EDUCATION SOCIETY,, RAJKOT-GUJARAT

In the result the appeals filed by the Revenue are hereby dismissed

Bench: Smt.Annapurna Gupta & T.R. Senthil Kumar

section 11 will arises. Whether the consideration is reasonable or excessive is to be judged from the fair market value of such consideration between two unrelated parties in arm’s-length situation. 9. Now the next question is whether the consideration paid by the assessee Trust to the specified persons is reasonable or not. The ITA No.15 & 16/RJT/2015 10 assessee

THE DCIT, (EXEMPTION) CIRCLE-2,, AHMEDABAD vs. GYANGANGA EDUCATION SOCIETY,, RAJKOT-GUJARAT

In the result the appeals filed by the Revenue are hereby dismissed

Bench: Smt.Annapurna Gupta & T.R. Senthil Kumar

section 11 will arises. Whether the consideration is reasonable or excessive is to be judged from the fair market value of such consideration between two unrelated parties in arm’s-length situation. 9. Now the next question is whether the consideration paid by the assessee Trust to the specified persons is reasonable or not. The ITA No.15 & 16/RJT/2015 10 assessee

THE JT. CIT (EXEMPTIONS)(OSD), CIRCLE-2,, AHMEDABAD vs. GYANGANGA EDUCATION SOCIETY,, RAJKOT

In the result, the Revenue appeal is hereby dismissed

Bench: Us That This Similar Issue Is Being Adjudicated By The Very Same Bench Of This Tribunal In Assessee’S Own Case In Ita Nos. 15 & 16/Rjt/2015 Vide Order Dated 29.06.2022 Relating To The Assessment Years 2010-11 & 2011-12. Further This Order Has Been Followed In Ita No. 472, 1170 & 2316/Ahd/2017 For The Assessment Years 2012-13, 2013-14 & 2014-15 By Order Dated 31.08.2022. Now The Present Assessment Year Is 2015-16, Which Is Fully Covered By The Above Orders Of This Tribunal & Copy Of The Orders Are Also Placed On Record.

house property, higher of municipal valuation or fair rent is taken into account. Furthermore the rental agreements clearly mention that besides building other amenities like furniture, electrical fittings, parking and open ground I.T.A No. 369/Ahd/2019 A.Y. 2015-16 Page No 11 was also used by the trust. Thus the assessing officer is not correct in making comparison with the municipal

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

11. But this does not mean that loss computed under any of the five heads mentioned in section 14 - (i) 'salary', (ii) 'income from house property

ASHOK GONDHIA MEMORIAL TRUST,RAJKOT vs. THE ITO EXEMPTION, WARD -1, RAJKOT, RAJKOT

In the result, the appeal of the assessee is allowed

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

House Dictionary means -(1) alleviation, ease, or deliverance I through the removal of pain, distress, oppression etc. (2) a means or thing that relieves pain, distress, anxiety etc (3) money, food or other help given to those in poverty or need. Section 2(15) merely uses the term relief and the said term is qualified only by the purpose

SHRI SAILESHBHAI SHAMBHUBHAI HIRPARA,JETPUR vs. THE DCIT, CIRCLE-1(2), RAJKOT

In the result, assessee’s appeal is dismissed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./I.T.A. No. 59/Rjt/2020 ("नधा"रण वष" / Assessment Year : 2016-17) Shri Saileshbhai The Deputy बनाम/ Shambhubhai Hirpara Commissioner Of Income Vs. C/O. Nishan Export, Tax Dhoraji Road, Jetpur, Circle-1(2), Rajkot Rajkot - 360370 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaeph3006R .. (अपीलाथ" /Appellant) (""यथ" / Respondent) अपीलाथ" ओर से /Appellant By : None Shri Ashish Kumar Pandey, ""यथ" क" ओर से / Sr.D.R. Respondent By : सुनवाई क" तार"ख / Date Of 23/08/2023 Hearing घोषणा क" तार"ख /Date Of 30/08/2023 Pronouncement O R D E R Per Ms. Madhumita Roy - Jm: The Instant Appeal At The Instance Of The Assessee Is Directed Against The Order Dated 28.01.2020 Passed By The Ld. Commissioner Of Income Tax (Appeals)-1, Rajkot (In Short ‘Cit(A)’) Arising Out Of The Assessment Order Dated 22.12.2018 Passed By The Dc/Ac, Circle-1(2), Rajkot Under Section

section 24(a) is allowed. Therefore, the income from deemed let out property is calculated as under: Description of the Value of the Deemed rent Less:Standard Taxable rent property property as per the @7% of the value deduction of (In Rs) balance sheet of the of the property as 30% u/s24(a) assessee per balance

SMT. JANKI KISHAN HINGORANI,RAJKOT vs. THE PR. CIT-1, RAJKOT, RAJKOT

In the result, the appeal of the Assessee is dismissed

Bench: Smt. Annapurna Gupta & Shri T.R. Senthil Kumar(Conducted Through Virtual Court) Assessment Year: 2015-16 Smt.Janki Kishan Hingorani The Pr.Cit 6/7, Subham Complex Rajkot-1 Royal Park, University Road बनाम/ Rajkot Rajkot – 380 006 Vs. Gujarat (Appellant ) ( Respondent ) Pan: Pan : Aahph 4774M Assessee By Ms.Amrin Pathan, Ld.Ar Revenue By Shri Shramdeep Sinha, Ld.Cit(Dr) Date Of Hearing 06/12/2023 Date Of Pronouncement 15/12/2023

11,206/- of the capital gains to tax. 4. The Ld.DR, however, pointed out that there was several conditions imposed u/s.54F of the Act for claiming the quantum of capital gain exemption under the said section. He drew our attention to the provisions of the section 54F of the Act, which is reproduced hereunder:- Section - 54F, Income

PANKAJKUMAR CHIMANLAL LODHIYA,RAKJOT vs. THE ACIT, CENTRAL CIRCLE-2, RAJKOT, RAJKOT

11. Further, as regard the proposal to levy penalty on addition made of Rs.\n1,80,000/-. On account of deemed rent from house property, it is to submit that during\nthe course of assessment proceedings, I had suo-moto offered deemed rental income\nof Rs. 72.000/-p.a. looking to the locality and standardized rent in the area. However,\nwhile

PANKAJKUMAR CHIMANLAL LODHIYA,RAJKOT vs. THE ACTIT, CENTRAL CIRCLE-2, RAJKOT, RAJKOT

11. Further, as regard the proposal to levy penalty on addition made of Rs.\n1,80,000/-. On account of deemed rent from house property, it is to submit that during\nthe course of assessment proceedings, I had suo-moto offered deemed rental income\nof Rs. 72.000/-p.a. looking to the locality and standardized rent in the area. However,\nwhile

PANKAJKUMAR CHIMANLAL LODHIYA,RAKJOT vs. THE ACIT, CENTRAL CIRCLE-2, RAJKOT, RAJKOT

11. Further, as regard the proposal to levy penalty on addition made of Rs.\n1,80,000/-. On account of deemed rent from house property, it is to submit that during\nthe course of assessment proceedings, I had suo-moto offered deemed rental income\nof Rs. 72.000/-p.a. looking to the locality and standardized rent in the area. However,\nwhile

PANKAJKUMAR CHIMANLAL LODHIYA,RAJKOT vs. THE ACIT, CENTRAL CIRCLE-2, RAJKOT, RAJKOT

11. Further, as regard the proposal to levy penalty on addition made of Rs.\n1,80,000/-. On account of deemed rent from house property, it is to submit that during\nthe course of assessment proceedings, I had suo-moto offered deemed rental income\nof Rs. 72.000/-p.a. looking to the locality and standardized rent in the area. However,\nwhile

PANKAJKUMAR CHIMANLAL LODHIYA,RAJKOT vs. THE ACIT, CENTRAL CIRCLE-2, RAJKOT, RAJKOT

11. Further, as regard the proposal to levy penalty on addition made of Rs.\n1,80,000/-. On account of deemed rent from house property, it is to submit that during\nthe course of assessment proceedings, I had suo-moto offered deemed rental income\nof Rs. 72.000/-p.a. looking to the locality and standardized rent in the area. However,\nwhile

PANKAJ CHIMANLAL LODHIYA,RAJKOT vs. THE ACIT, CENTRAL CIRCLE-2, RAJKOT, RAJKOT

11. Further, as regard the proposal to levy penalty on addition made of Rs.\n1,80,000/-. On account of deemed rent from house property, it is to submit that during\nthe course of assessment proceedings, I had suo-moto offered deemed rental income\nof Rs. 72.000/-p.a. looking to the locality and standardized rent in the area. However,\nwhile

JITENDRASINH ZALA,JAMNAGAR vs. THE PR.COMMISSIONER OF INCOME TAX, JAMNAGAR

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

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

section 263 of the Act. 6. Regarding claiming of interest on Self- Occupied Property, the assessee submitted before the learned PCIT that interest on self-occupied house property was claimed for the residential house, that is, Plot No.63 F New Aram Colony, Jamnagar, which is merged by demolishing Plot No.63 A1. Kodiyar Colony and Plot No. 63 A2, Aram Colony

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

housing development. 2. Eligible Business: The deduction applies exclusively to profits derived from the eligible business activities mentioned above. 3. Creation of Special Reserve: The entity must transfer up to 20% of the eligible profits to a special reserve, as reflected in the financial statements. Necessity of Claiming Through Profit and Loss Account 1. Legal Compliance: The Income