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

79,125/-).\n(vii). Deemed Rent of more than one property reflected in Balance sheet\nRs.1,80,000/-.\n(viii). Disallowance of payment of commission to Shri Rajesh Bhatt\nRs.3,00,000/-.\n(ix). Disallowance of interest u/s 36(1)(iii) of the Act - Rs.1,04,88,591/-.\n(x). Disallowance of hedging loss Rs.79,37,455/-.\n6.\nIn respect

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

79,125/-).\n(vii). Deemed Rent of more than one property reflected in Balance sheet\nRs.1,80,000/-.\n(viii). Disallowance of payment of commission to Shri Rajesh Bhatt\nRs.3,00,000/-.\n(ix). Disallowance of interest u/s 36(1)(iii) of the Act - Rs.1,04,88,591/-.\n(x). Disallowance of hedging loss Rs.79,37,455/-.\n6.\nIn respect

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

79,125/-).\n(vii). Deemed Rent of more than one property reflected in Balance sheet -\nRs.1,80,000/-.\n(viii). Disallowance of payment of commission to Shri Rajesh Bhatt -\nRs.3,00,000/-.\n(ix). Disallowance of interest u/s 36(1)(iii) of the Act - Rs.1,04,88,591/-.\n(x). Disallowance of hedging loss Rs.79,37,455/-.\n6.\nIn respect

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

79,125/-).\n(vii). Deemed Rent of more than one property reflected in Balance sheet\nRs.1,80,000/-.\n(viii). Disallowance of payment of commission to Shri Rajesh Bhatt\nRs.3,00,000/-.\n(ix). Disallowance of interest u/s 36(1)(iii) of the Act - Rs.1,04,88,591/-.\n(x). Disallowance of hedging loss Rs.79,37,455/-.\n6.\nIn respect

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

79,125/-).\n(vii). Deemed Rent of more than one property reflected in Balance sheet\nRs.1,80,000/-.\n(viii). Disallowance of payment of commission to Shri Rajesh Bhatt\nRs.3,00,000/-.\n(ix). Disallowance of interest u/s 36(1)(iii) of the Act - Rs.1,04,88,591/-.\n(x). Disallowance of hedging loss Rs.79,37,455/-.\n6. In respect

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

79,125/-).\n(vii). Deemed Rent of more than one property reflected in Balance sheet\nRs.1,80,000/-.\n(viii). Disallowance of payment of commission to Shri Rajesh Bhatt\nRs.3,00,000/-.\n(ix). Disallowance of interest u/s 36(1)(iii) of the Act - Rs.1,04,88,591/-.\n(x). Disallowance of hedging loss Rs.79

SAHADE vs. INH VAJESINH VAGHELA,RAJKOTVS.ACIT, CIRCLE-1(2), RAJKOT, RAJKOT

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Shri T.R. Senthil Kumarassessment Year : 2012-13 Shri Sahadevsinh Vajesinh Vaghela, Vs The Dcit, B-51, Prayag B, Nr. Hotel Mohit, Circle-1(2), Sir Harilal Gosalia Marg, Rajkot Rajkot-360001 Pan : Abopv 3578 M अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Dixit Tanna, Ar Revenue By : Shri V.J. Boricha, Sr. Dr सुनवाई की तारीख/Date Of Hearing : 15/11/2023 घोषणा की तारीख /Date Of Pronouncement: 22/11/2023 आदेश/O R D E R Per Waseem Ahmed, Am :

Section 57 of the Act. 4. The brief facts of the case are that the assessee, in the present case, is an individual and filed his return of income declaring the total income at Rs. 14,35,230/-, which was derived from house property and other sources. The assessee has borrowed funds from the bank for an amount

DCIT, CENTRAL CIRCLE 1, RAJKOT, RAJKOT vs. SHRI DEEPAK MOHANLAL PURSWANI, RAJKOT

house property and business losses of Rs.\n52,358/-. Thus, total income of Rs.8,17,320/- has been offered. A Search, Seizure\nand Survey action was carried out by the office of DDIT (Inv.), Unit-1, Rajkot in\nthe case of leading real estate builders of Rajkot and their key associates on\n24.08.2021. Four different groups were covered

SIX TWENTY REALTY PVT. LTD.,RAJKOT vs. DCIT, CC-1, RAJKOT, RAJKOT

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

79,91,980/-. Notice under section 143(2) of the Act issued. Further, notice under section 142(1) of the Act has been issued confronting various incriminating documents impounded during the Income-tax Survey and seeking assessee's response on the same. Issue Involved: 5. The brief facts of the case are that a survey u/s 133A

DCIT, CENTRAL CIRCLE-1, RAJKOT, RAJKOT vs. SIX TWENTY REALTY PRIVATE LIMITED, RAJKOT

79,91,980/-. Notice under section 143(2) of the Act issued. Further, notice under\nsection 142(1) of the Act has been issued confronting various incriminating\ndocuments impounded during the Income-tax Survey and seeking assessee's\nresponse on the same.\n\nIssue Involved:\n\n5. The brief facts of the case are that a survey u/s 133A

SIX TWENTY REALTY PVT LTD,RAJOT vs. DCIT, CC-1, RAJKOT, RAJKOT

79,91,980/-. Notice under section 143(2) of the Act issued. Further, notice under\nsection 142(1) of the Act has been issued confronting various incriminating\ndocuments impounded during the Income-tax Survey and seeking assessee's\nresponse on the same.\n\nIssue Involved:\n\n5. The brief facts of the case are that a survey u/s 133A

SIX TWENTY REALTY PVT. LTD.,RAJKOT vs. DCIT, CC-1, RAJKOT, RAJKOT

79,91,980/-. Notice under section 143(2) of the Act issued. Further, notice under\nsection 142(1) of the Act has been issued confronting various incriminating\ndocuments impounded during the Income-tax Survey and seeking assessee's\nresponse on the same.\n\nIssue Involved:\n\n5. The brief facts of the case are that a survey u/s 133A

THE DCIT CENTRAL CIRCLE-1 , RAJKOT vs. SHRI SHAMJIBHAI SADHABHAI KANGAD, GANDHIDHAM-KUTCH

In the result, appeal filed by the Revenue, in IT(SS) No

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआ.(खो और ज).सं./It(Ss)A Nos.11 To 20/Rjt/2022 "नधा"रण वष"/ Assessment Years:2011-12 To 2020-21 बनाम/ Shri Shamjibhai Sadhabhai Deputy Commissioner Of Kangad Income Tax, Central Circle-1, Vs. Bbz-S-60, Zanda Chowk, “Amruta Estate”, 2Nd Floor, Gandhidham-370 201 M.G. Road, Rajkot-360001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.:Adepk 3471 E (अपीलाथ"/Assessee) (""यथ"/Respondent) आ.(खो और ज).सं./It(Ss)A Nos.21 To 23/Rjt/2022 "नधा"रण वष"/ Assessment Years:2014-15, 2016-17 &2017-18 बनाम/ Deputy Commissioner Of Income Shri Shamjibhai Sadhabhai Tax, Central Circle-1, “Amruta Kangad Vs. Estate”, 2Nd Floor, M.G. Road, Bbz-S-60, Zanda Chowk, Rajkot-360001 Gandhidham-370 201 "थायीलेखासं./जीआइआरसं./Pan/Gir No.:Aabca 8202 E (अपीलाथ"/Assessee) (""यथ"/Respondent) आ.(खो और ज).सं./It(Ss)A Nos.15/Rjt/2023 "नधा"रण वष"/ Assessment Year:2019-20 बनाम/ Deputy Commissioner Of Shri Hetab Shamjibhai Kangad Income Tax, Central Circle-1, Bbz-South-60, Zanda Chowk, Vs. “Amruta Estate”, 2Nd Floor, Gandhidham-370 201 M.G. Road, Rajkot-360001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.:Aqtpk 7484 M (अपीलाथ"/Assessee) (""यथ"/Respondent)

house agent, renting of godown and warehouse etc. The pioneer and founder of the salt manufacturing business, was Late Shri Sadhabhai Ramjibhai Kangad, who has installed the first washery plant Shri Shamjibhai Shadabhai Kangad & Ors. IT(SS)A Nso.11 to 23 /RJT/2022 and Ors. (AYs : 2011-12 to 2018-19 & Ors..) 11 way back in 1968 in the name

SHRI SHAMJIBHAI SADHABHAI KANGAD,GANDHIDHAM-KUTCH vs. THE DCIT CENTRAL CIRCLE-1 , RAJKOT

house agent, renting of godown and\nwarehouse etc. The pioneer and founder of the salt manufacturing business, was\nLate Shri Sadhabhai Ramjibhai Kangad, who has installed the first washery plant\nShri Shamjibhai Shadabhai Kangad & Ors.\nIT(SS)A Nso.11 to 23/RJT/2022 and Ors. (AYs: 2011-12 to 2018-19 & Ors..)\n11\nway back in 1968 in the name of Neelkanth

THE ASSISTANT COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE,, GANDHINAGAR vs. M/S KUTCH SALT & ALLIED INDUSTRIES LTD.,, GANDHIDHAM

In the result, cross objections filed by the assessee are allowed for statistical purposes

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhait (Ss)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 To 2012-13) (Hybrid Hearing) Asstt. Commissioner Of Income Tax, Vs. M/S. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaact1769L (Appellant) (Respondent)

79,17,821/-, Bank charges Rs. 18,70,159/-, loan documentation charges Rs. 625,989/-. Thus, on borrowed funds interest is given to the banks by the assessee. On verification of Bank Loan Accounts and loan accounts in the computerized accounts, it was observed by the assessing officer that the assessee- firm has given loan to some group concerns, against

THE ASSISTANT COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE,, GANDHINAGAR vs. M/S KUTCH SALT & ALLIED INDUSTRIES LTD.,, GANDHIDHAM

In the result, cross objections filed by the assessee are allowed for statistical purposes

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhait (Ss)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 To 2012-13) (Hybrid Hearing) Asstt. Commissioner Of Income Tax, Vs. M/S. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaact1769L (Appellant) (Respondent)

79,17,821/-, Bank charges Rs. 18,70,159/-, loan documentation charges Rs. 625,989/-. Thus, on borrowed funds interest is given to the banks by the assessee. On verification of Bank Loan Accounts and loan accounts in the computerized accounts, it was observed by the assessing officer that the assessee- firm has given loan to some group concerns, against

THE ASSISTANT COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE,, GANDHINAGAR vs. M/S KUTCH SALT & ALLIED INDUSTRIES LTD.,, GANDHIDHAM

In the result, cross objections filed by the assessee are allowed for statistical purposes

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhait (Ss)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 To 2012-13) (Hybrid Hearing) Asstt. Commissioner Of Income Tax, Vs. M/S. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaact1769L (Appellant) (Respondent)

79,17,821/-, Bank charges Rs. 18,70,159/-, loan documentation charges Rs. 625,989/-. Thus, on borrowed funds interest is given to the banks by the assessee. On verification of Bank Loan Accounts and loan accounts in the computerized accounts, it was observed by the assessing officer that the assessee- firm has given loan to some group concerns, against

THE ASSISTANT COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE,, GANDHIDHAM-KUTCH vs. M/S KUTCH SALT & ALLIED INDUSTRIES LTD.,, GANDHIDHAM-KUTCH

In the result, cross objections filed by the assessee are allowed for statistical purposes

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhait (Ss)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 To 2012-13) (Hybrid Hearing) Asstt. Commissioner Of Income Tax, Vs. M/S. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaact1769L (Appellant) (Respondent)

79,17,821/-, Bank charges Rs. 18,70,159/-, loan documentation charges Rs. 625,989/-. Thus, on borrowed funds interest is given to the banks by the assessee. On verification of Bank Loan Accounts and loan accounts in the computerized accounts, it was observed by the assessing officer that the assessee- firm has given loan to some group concerns, against

THE ASSISTANT COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE,, GANDHINAGAR vs. M/S KUTCH SALT & ALLIED INDUSTRIES LTD.,, GANDHIDHAM

In the result, cross objections filed by the assessee are allowed for statistical purposes

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhait (Ss)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 To 2012-13) (Hybrid Hearing) Asstt. Commissioner Of Income Tax, Vs. M/S. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaact1769L (Appellant) (Respondent)

79,17,821/-, Bank charges Rs. 18,70,159/-, loan documentation charges Rs. 625,989/-. Thus, on borrowed funds interest is given to the banks by the assessee. On verification of Bank Loan Accounts and loan accounts in the computerized accounts, it was observed by the assessing officer that the assessee- firm has given loan to some group concerns, against