M/S AMBITIOUS FINANCE & INVESTMENT PVT. LTD.,,RAJKOT-GUJARAT vs. THE INCOME TAX OFFICER, WARD-2(4),, RAJKOT-GUJARAT

The appeal of the assessee is dismissed

Bench: Mrs. Annapurna Gupta & Mrs. Madhumita Royिनधा"रणवष"/Assessment Year: 1997-98 M/S. Ambitious Finance & Vs. Income Tax Officer, Investment Pvt. Ltd., Ward- 2(4), 107, Kapad Market, Para Bazar, Rajkot Rajkot Pan : Aabca 8076 C अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" "" यथ" "" "" यथ" यथ"/ (Respondent) यथ" Assessee By : Written Submission Revenue By : Shri V.J. Boricha, Sr. Dr सुनवाई क" तारीख/Date Of Hearing : 14.12.2022 घोषणा क" तारीख /Date Of Pronouncement: 06.03.2023 आदेश आदेश/O R D E R आदेश आदेश Per Annapurna Gupta:

cash credits in the name of all the 3 depositors are treated as unexplained u/s 68 of the I.T. Act. Penalty proceedings u/s 271

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

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

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

KUMAR RAMESH SAHU,RAJKOT, GUJARAT vs. ACIT, CIRCLE-2(2), RAJKOT, RAJKOT, GUJARAT

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

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./I.T.A. No.336/Rjt/2023 (िनधा"रण वष" / Assessment Year : 2009-10) Kumar Ramesh Sahu बनाम/ The Acit, Sundaram, 72/3, New Cirtcle-2(3) Vs. College Wadi Rajkot – 60 001 150Ft5. Ring Road Opp. Meera Apartment Rajkot – 360 005 (Gujarat) "ायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aesps 5531 C (अपीलाथ" /Appellant) (""थ" / Respondent) .. Assessee By : Shri M.N. Manvar, Ld. Ar Revenue By : Shri Abhimanyu Singh Yadav, Ld. Sr. Dr सुनवाई की तारीख / Date Of Hearing 13/01/2025 घोषणा की तारीख /Date Of Pronouncement 04/04/2025 आदेश / O R D E R Per Dinesh Mohan Sinha:

cash credit u/s. 68 Rs. 94,000/- as discussed in para 10.1 (vi) unexplained deposit by cheque Rs. 50,000/- Rs. Rs.36,64,251/- u/s. 68 as discussed in para 11.1 Total Income... Rs. 42,04,261/- Rounded off to... Rs. Rs. 42,04,260/- The Assessing Officer assessed the income of Rs. 42, 04,260/- under Section

M/S AJAY SALT & CHEMICALS,,UNA vs. I.T.O., WARD-1(3),, VERAVAL

In the result, the appeal of the assessee is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No.296/Rjt/2017 "नधा"रण वष"/Asstt. Year: 2006-2007

u/s. 271(1)(c). On merit I do not find any fault in AO's action of imposing penalty in respect of unexplained cash credit

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

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

VALLABHBHAI BHAGVANJIBHAI KATHIRIYA,JAMNAGAR vs. ITO WARD 2(10) JAMNAGAR, JAMNAGAR

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

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No. 510, 511 & 512/Rjt/2025 (िनधा"रण वष" / Assessment Year: (2013-14) (Hybrid Hearing) Vallabhbhai Bhagvanjibhai Vs. Ito Ward 2(10) Jamnagar Kathiriya Aayakar Bhavan, Jamnagar, Khitadia, Jamnagar, Jamnagar - 361006 Jamnagar – 361006 Pan No. - Αυτρκ7716N (Appellant) (Respondent)

credits was not accepted by the assessing officer and the same was taken as NIL for computation purpose. 7. The assessing officer, then framed the assessment, under section 147 read with section 143(3) read with section 144B of the Income Tax Act, 1961. The penalty proceedings u/s 271(1)(c) of the Income-tax Act, 1961, was initiated

VALLABHBHAI BHAGVANJIBHAI KATHIRIYA,JAMNAGAR vs. ITO WARD 2(10) JAMNAGAR, JAMNAGAR

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

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No. 510, 511 & 512/Rjt/2025 (िनधा"रण वष" / Assessment Year: (2013-14) (Hybrid Hearing) Vallabhbhai Bhagvanjibhai Vs. Ito Ward 2(10) Jamnagar Kathiriya Aayakar Bhavan, Jamnagar, Khitadia, Jamnagar, Jamnagar - 361006 Jamnagar – 361006 Pan No. - Αυτρκ7716N (Appellant) (Respondent)

credits was not accepted by the assessing officer and the same was taken as NIL for computation purpose. 7. The assessing officer, then framed the assessment, under section 147 read with section 143(3) read with section 144B of the Income Tax Act, 1961. The penalty proceedings u/s 271(1)(c) of the Income-tax Act, 1961, was initiated

VALLABHBHAI BHAGVANJIBHAI KATHIRIYA,JAMNAGAR vs. ITO WARD 2(10) JAMNAGAR, JAMNAGAR

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

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No. 510, 511 & 512/Rjt/2025 (िनधा"रण वष" / Assessment Year: (2013-14) (Hybrid Hearing) Vallabhbhai Bhagvanjibhai Vs. Ito Ward 2(10) Jamnagar Kathiriya Aayakar Bhavan, Jamnagar, Khitadia, Jamnagar, Jamnagar - 361006 Jamnagar – 361006 Pan No. - Αυτρκ7716N (Appellant) (Respondent)

credits was not accepted by the assessing officer and the same was taken as NIL for computation purpose. 7. The assessing officer, then framed the assessment, under section 147 read with section 143(3) read with section 144B of the Income Tax Act, 1961. The penalty proceedings u/s 271(1)(c) of the Income-tax Act, 1961, was initiated

VALLABHBHAI BHAGVANJIBHAI KATHIRIYA,JAMNAGAR vs. ITO WARD 2(10) JAMNAGAR, JAMNAGAR

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

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No. 510, 511 & 512/Rjt/2025 (िनधा"रण वष" / Assessment Year: (2013-14) (Hybrid Hearing) Vallabhbhai Bhagvanjibhai Vs. Ito Ward 2(10) Jamnagar Kathiriya Aayakar Bhavan, Jamnagar, Khitadia, Jamnagar, Jamnagar - 361006 Jamnagar – 361006 Pan No. - Αυτρκ7716N (Appellant) (Respondent)

credits was not accepted by the assessing officer and the same was taken as NIL for computation purpose. 7. The assessing officer, then framed the assessment, under section 147 read with section 143(3) read with section 144B of the Income Tax Act, 1961. The penalty proceedings u/s 271(1)(c) of the Income-tax Act, 1961, was initiated

VALLABHBHAI BHAGVANJIBHAI KATHIRIYA,JAMNAGAR vs. ITO WARD 2(10) JAMNAGAR, JAMNAGAR

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

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No. 510, 511 & 512/Rjt/2025 (िनधा"रण वष" / Assessment Year: (2013-14) (Hybrid Hearing) Vallabhbhai Bhagvanjibhai Vs. Ito Ward 2(10) Jamnagar Kathiriya Aayakar Bhavan, Jamnagar, Khitadia, Jamnagar, Jamnagar - 361006 Jamnagar – 361006 Pan No. - Αυτρκ7716N (Appellant) (Respondent)

credits was not accepted by the assessing officer and the same was taken as NIL for computation purpose. 7. The assessing officer, then framed the assessment, under section 147 read with section 143(3) read with section 144B of the Income Tax Act, 1961. The penalty proceedings u/s 271(1)(c) of the Income-tax Act, 1961, was initiated

VALLABHBHAI BHAGVANJIBHAI KATHIRIYA,JAMNAGAR vs. ITO WARD 2(10) JAMNAGAR, JAMNAGAR

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

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No. 510, 511 & 512/Rjt/2025 (िनधा"रण वष" / Assessment Year: (2013-14) (Hybrid Hearing) Vallabhbhai Bhagvanjibhai Vs. Ito Ward 2(10) Jamnagar Kathiriya Aayakar Bhavan, Jamnagar, Khitadia, Jamnagar, Jamnagar - 361006 Jamnagar – 361006 Pan No. - Αυτρκ7716N (Appellant) (Respondent)

credits was not accepted by the assessing officer and the same was taken as NIL for computation purpose. 7. The assessing officer, then framed the assessment, under section 147 read with section 143(3) read with section 144B of the Income Tax Act, 1961. The penalty proceedings u/s 271(1)(c) of the Income-tax Act, 1961, was initiated

VALLABHBHAI BHAGVANJIBHAI KATHIRIYA,JAMNAGAR vs. ITO WARD 2(10) JAMNAGAR, JAMNAGAR

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

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No. 510, 511 & 512/Rjt/2025 (िनधा"रण वष" / Assessment Year: (2013-14) (Hybrid Hearing) Vallabhbhai Bhagvanjibhai Vs. Ito Ward 2(10) Jamnagar Kathiriya Aayakar Bhavan, Jamnagar, Khitadia, Jamnagar, Jamnagar - 361006 Jamnagar – 361006 Pan No. - Αυτρκ7716N (Appellant) (Respondent)

credits was not accepted by the assessing officer and the same was taken as NIL for computation purpose. 7. The assessing officer, then framed the assessment, under section 147 read with section 143(3) read with section 144B of the Income Tax Act, 1961. The penalty proceedings u/s 271(1)(c) of the Income-tax Act, 1961, was initiated

VALLABHBHAI BHAGVANJIBHAI KATHIRIYA,JAMNAGAR vs. ITO WARD 2(10) JAMNAGAR, JAMNAGAR

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

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No. 510, 511 & 512/Rjt/2025 (िनधा"रण वष" / Assessment Year: (2013-14) (Hybrid Hearing) Vallabhbhai Bhagvanjibhai Vs. Ito Ward 2(10) Jamnagar Kathiriya Aayakar Bhavan, Jamnagar, Khitadia, Jamnagar, Jamnagar - 361006 Jamnagar – 361006 Pan No. - Αυτρκ7716N (Appellant) (Respondent)

credits was not accepted by the assessing officer and the same was taken as NIL for computation purpose. 7. The assessing officer, then framed the assessment, under section 147 read with section 143(3) read with section 144B of the Income Tax Act, 1961. The penalty proceedings u/s 271(1)(c) of the Income-tax Act, 1961, was initiated

VALLABHBHAI BHAGVANJIBHAI KATHIRIYA,JAMNAGAR vs. ITO WARD 2(10) JAMNAGAR, JAMNAGAR

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

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No. 510, 511 & 512/Rjt/2025 (िनधा"रण वष" / Assessment Year: (2013-14) (Hybrid Hearing) Vallabhbhai Bhagvanjibhai Vs. Ito Ward 2(10) Jamnagar Kathiriya Aayakar Bhavan, Jamnagar, Khitadia, Jamnagar, Jamnagar - 361006 Jamnagar – 361006 Pan No. - Αυτρκ7716N (Appellant) (Respondent)

credits was not accepted by the assessing officer and the same was taken as NIL for computation purpose. 7. The assessing officer, then framed the assessment, under section 147 read with section 143(3) read with section 144B of the Income Tax Act, 1961. The penalty proceedings u/s 271(1)(c) of the Income-tax Act, 1961, was initiated

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

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

M/S. SIMERO VITRIFIED P. LTD. ,MORBI vs. THE PR. CIT-3 , RAJKOT

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

Bench: Us Is A Private Limited Company & Engaged In The Business Of Manufacturing Of Vitrified Tiles. The Return Of Income Has Been E-Filed By The Assessee, On 10/09/2016 For Assessment Year (A.Y.) 2016-17, Reporting Loss Of Rs. 5,68,00,829/-, Which Was Later Revised On 09/03/2018, Declaring Total Loss Of Rs. 13,97,40,413/-, Claiming Investment Allowance U/S 32Ac Of The Income Tax Act. The Case Has Been Selected For Complete Scrutiny (Cass) Specifically To Examine The Followings: 1) Whether Outward Foreign Remittance Is From Disclosed Sources & Appropriate Withholding & Reporting Obligation Have Been Complied With; 2) Whether Investment & Income Relating To Properties Are Duly Disclosed; 3) Whether Receipt Of Foreign Remittance Has Been Correctly Offered For Tax And, 4) Whether Sundry Creditors Are Genuine. 4. The Assessment Order U/S 143(3) For The Assessment Year (A.Y.) 2016-17 Was Passed By Dcit, Morbi Circle, Morbi, Being The Assessing Officer (Ao), On 21/12/2018, Allowing The Loss Claimed Of Rs. 13,97,40,413/- To Be Carry Forward To Subsequent Years. 2

unexplained cash credits u/s 68 and added back to the assessee's total income. Penalty u/s 271(1)(C) is initiated

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

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

SUBHAS HANSARAJ NANDU,BHACHAU, KUTCH vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

In the result, appeal filed by the assessee is allowed

Bench: Dr. Arjun Lal Saini(Hybrid Hearing) Assessment Year: (2010-11) Subhas Hansaraj Nandu Vs. National Faceless Assessment Opp:Shambhu Maharaj Bungalow Centre, Delhi. Bhachau, Gujarat. Pan : Afrpn 0720 J (Assessee) (Respondent) "नधा"रती क" ओर से/Assessee By : Shri Kalpesh Doshi, Ld. Ar राज"व क" ओर से/Revenue By : Shri Abhimanyu Singh Yadav, Ld. Sr.Dr

unexplained cash credit u/s. 68 of the Act and added to the income of the assessee, also the payment of interest of Rs.54,950/- made to the alleged 4 parties was disallowed and added to the income of the assessee. Accordingly, the assessing officer has initiated penalty proceedings u/s. 274 r.w.s 271