THE INCOME TAX OFFICER, WARD-1 (1) (3),, RAJKOT vs. M/S. TIRUPATI AGENCIES,, RAJKOT

Appeals are dismissed

Bench: Smt.Annapurna Gupta & Ms. Madhumita Royआयकर अपील सं./I.T.A. Nos. 362 To 365/Rjt/2018 ("नधा"रण वष" / Assessment Years : 2008-09 To 2011-12) Income-Tax Officer M/S. Tirupati Agencies बनाम/ Ward-1(1)(3), Rajkot Prasang Commercial Vs. Complex, Nr. Chitralekha Apartment, 150 Ft. Ring Road, Rajkot "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aacft0834H .. (अपीलाथ" /Appellant) (""यथ" / Respondent) अपीलाथ" ओर से /Appellant By : Shri Shramdeep Sinha, Cit. D.R. ""यथ" क" ओर से / Shri Mehul Ranpura, A.R. Respondent By : सुनवाई क" तार"ख / Date Of 12/12/2022 Hearing घोषणा क" तार"ख /Date Of 22/02/2023 Pronouncement O R D E R Per Ms. Madhumita Roy - Jm: All Four Appeals At The Instance Of The Revenue Are Directed Against The Orders All Dated 05.07.2018 Passed By The Passed By The Commissioner Of Income Tax (Appeals) – 1, Rajkot (The Cit(A)), Arising Out Of The Assessment Orders All Dated 29.03.2016 Passed By The Learned Ito, Ward 1(1)(3), Rajkot Under Section

income from business and profession. The CIT Vs. Kelvinator of India Limited, (2010) 320 ITR 561, the Supreme Court observed that post 01-04-1989, the power to reopen is much wider. However, one needs to give a schematic interpretation to the words 'reason to believe' failing which, Section 147 would give arbitrary powers to the Assessing Officer to reopen

THE INCOME TAX OFFICER, WARD-1 (1) (3),, RAJKOT vs. M/S. TIRUPATI AGENCIES,, RAJKOT

Appeals are dismissed

Bench: Smt.Annapurna Gupta & Ms. Madhumita Royआयकर अपील सं./I.T.A. Nos. 362 To 365/Rjt/2018 ("नधा"रण वष" / Assessment Years : 2008-09 To 2011-12) Income-Tax Officer M/S. Tirupati Agencies बनाम/ Ward-1(1)(3), Rajkot Prasang Commercial Vs. Complex, Nr. Chitralekha Apartment, 150 Ft. Ring Road, Rajkot "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aacft0834H .. (अपीलाथ" /Appellant) (""यथ" / Respondent) अपीलाथ" ओर से /Appellant By : Shri Shramdeep Sinha, Cit. D.R. ""यथ" क" ओर से / Shri Mehul Ranpura, A.R. Respondent By : सुनवाई क" तार"ख / Date Of 12/12/2022 Hearing घोषणा क" तार"ख /Date Of 22/02/2023 Pronouncement O R D E R Per Ms. Madhumita Roy - Jm: All Four Appeals At The Instance Of The Revenue Are Directed Against The Orders All Dated 05.07.2018 Passed By The Passed By The Commissioner Of Income Tax (Appeals) – 1, Rajkot (The Cit(A)), Arising Out Of The Assessment Orders All Dated 29.03.2016 Passed By The Learned Ito, Ward 1(1)(3), Rajkot Under Section

income from business and profession. The CIT Vs. Kelvinator of India Limited, (2010) 320 ITR 561, the Supreme Court observed that post 01-04-1989, the power to reopen is much wider. However, one needs to give a schematic interpretation to the words 'reason to believe' failing which, Section 147 would give arbitrary powers to the Assessing Officer to reopen

THE INCOME TAX OFFICER, WARD-1 (1) (3),, RAJKOT vs. M/S. TIRUPATI AGENCIES,, RAJKOT

Appeals are dismissed

Bench: Smt.Annapurna Gupta & Ms. Madhumita Royआयकर अपील सं./I.T.A. Nos. 362 To 365/Rjt/2018 ("नधा"रण वष" / Assessment Years : 2008-09 To 2011-12) Income-Tax Officer M/S. Tirupati Agencies बनाम/ Ward-1(1)(3), Rajkot Prasang Commercial Vs. Complex, Nr. Chitralekha Apartment, 150 Ft. Ring Road, Rajkot "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aacft0834H .. (अपीलाथ" /Appellant) (""यथ" / Respondent) अपीलाथ" ओर से /Appellant By : Shri Shramdeep Sinha, Cit. D.R. ""यथ" क" ओर से / Shri Mehul Ranpura, A.R. Respondent By : सुनवाई क" तार"ख / Date Of 12/12/2022 Hearing घोषणा क" तार"ख /Date Of 22/02/2023 Pronouncement O R D E R Per Ms. Madhumita Roy - Jm: All Four Appeals At The Instance Of The Revenue Are Directed Against The Orders All Dated 05.07.2018 Passed By The Passed By The Commissioner Of Income Tax (Appeals) – 1, Rajkot (The Cit(A)), Arising Out Of The Assessment Orders All Dated 29.03.2016 Passed By The Learned Ito, Ward 1(1)(3), Rajkot Under Section

income from business and profession. The CIT Vs. Kelvinator of India Limited, (2010) 320 ITR 561, the Supreme Court observed that post 01-04-1989, the power to reopen is much wider. However, one needs to give a schematic interpretation to the words 'reason to believe' failing which, Section 147 would give arbitrary powers to the Assessing Officer to reopen

SEABIRD MARINE SERVICES PRIVATE LIMITED,JAMNAGAR vs. ACIT, CIRCLE - 1, JAMNAGAR, JAMANGAR

In the result, ground No.4 raised by the assessee is allowed

reassess the company's income,\nthen it would have stated so in section 115J that 'income of the company as accepted by the\nAssessing Officer'. In the absence of the same and on the language of section 115J, it will have\nto held that view taken by the Tribunal is correct and the High Court has erred in reversing

THE DCIT, (INTL. TAXN.), RAJKOT vs. M/S. KOREA SOUTH EAST POWER CO. LTD., MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Smt. Annapurna Gupta & Shri T.R. Senthil Kumar(Conducted Through Virtual Court) Assessment Year: 2011-12 The Dcit (Intl. Taxn.) M/S.Korea South East Power Amruta Estate Co.Ltd. Room No.312 Mg Road बनाम/ C/O. P.V. Page & Co., Girnar Cinema 201, Sardar Griha, 198 L.T. Marg Vs. Rajkot Mumbai – 400 002 (Appellant) (Respondent) Pan: Pan : Ahvps 3555Q Assessee By None Revenue By Shri Ashish Kumar Pandey, Sr.Dr Date Of Hearing 25/09/2023 Date Of Pronouncement 15/12/2023

reassessment and imposed penalty under section 271(1)(c). The Tribunal after considering the facts, deleted the penalty and observed that since there is no change in the income declared and income assessed by the Assessing Officer, it cannot be said that there were any concealment of income. Relevant extract is reproduced as under: "We find that the income

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

reassessments. 3. Ensuring Integrity of Financial Reporting: Segregating eligible business profits upholds the integrity of financial statements, reflecting true and fair views of different business segments. Consequences of Non-Compliance 1. Invalid Deduction Claims: Failure to claim the deduction through the profit and loss account may lead to disallowance, increasing the tax liability of the taxpayer. 2. Administrative Burden: Without

HETALKUMAR PRAVINCHANDRA RAJYAGURU,RAJKOT vs. PR. CIT, RAJKOT-1, RAJKOT, RAJKOT

business, but failed to provide adequate documentary evidence. A downward trend in gross profit ratio was also noted without apparent reason. The Principal Commissioner of Income Tax (PCIT) invoked his jurisdiction under Section 263 of the Income Tax Act, 1961, stating that the Assessing Officer (AO) had failed to conduct proper inquiries.", "held": "The Tribunal held that the PCIT

MUKESH MANEKCHAND SHETH,RAJKOT vs. THE DCIT-ACIT, CENTRAL CIRCLE -2, RAJKOT, RAJKOT

income and\nhence, the notice issued u/s. 148 of the Act is barred by the limitation period of\ntime prescribed u/s. 149 of the Act.In view of the above, it was submitted that\nproceedings initiated u/s147 of the Act are wholly and ipso facto invalid and\nhence, reassessment proceedings may be quashed.\n12. On merit, the assessee submitted before

THE ITO, WARD-3(1)(1),, RAJKOT-GUJARAT vs. SHRI GIRISHKUMAR M. PURUSWANI,, RAJKOT-GUJARAT

In the result, the appeal filed by the Revenue is hereby dismissed

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

business of discounting/issuing of negotiable instruments like drafts, cheques etc. under the name and style of M/s. Sanjay Enterprise. The assessee was earning commission of Rs. 50 per lakh for such transaction. The assessee has filed his Returns of Income for all the three assessment years, declaring income from Sanjay Enterprise whereas the Assessing Officer received information from ADIT

THE ITO, WARD-3(1)(1),, RAJKOT-GUJARAT vs. SHRI GIRISHKUMAR M. PURUSWANI,, RAJKOT-GUJARAT

In the result, the appeal filed by the Revenue is hereby dismissed

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

business of discounting/issuing of negotiable instruments like drafts, cheques etc. under the name and style of M/s. Sanjay Enterprise. The assessee was earning commission of Rs. 50 per lakh for such transaction. The assessee has filed his Returns of Income for all the three assessment years, declaring income from Sanjay Enterprise whereas the Assessing Officer received information from ADIT

THE ITO, WARD-3(1)(1),, RAJKOT-GUJARAT vs. SHRI GIRISHKUMAR M. PURUSWANI,, RAJKOT-GUJARAT

In the result, the appeal filed by the Revenue is hereby dismissed

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

business of discounting/issuing of negotiable instruments like drafts, cheques etc. under the name and style of M/s. Sanjay Enterprise. The assessee was earning commission of Rs. 50 per lakh for such transaction. The assessee has filed his Returns of Income for all the three assessment years, declaring income from Sanjay Enterprise whereas the Assessing Officer received information from ADIT

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

reassessment shall be issued by the Assessing\nOfficer for the relevant assessment year or years unless\n(a) the Assessing Officer has in his possession books of account or other documents or\nevidence which reveal that the income, represented in the form of asset, which has\nescaped assessment amounts to or is likely to amount to fifty lakh rupees

MUKESH MANEKCHAND SHETH,RAJKOT vs. THE DCIT-ACIT, CENTRAL CIRCLE-2, RAJKOT, RAJKOT

income and\nhence, the notice issued u/s. 148 of the Act is barred by the limitation period of\ntime prescribed u/s. 149 of the Act.In view of the above, it was submitted that\nproceedings initiated u/s147 of the Act are wholly and ipso facto invalid and\nhence, reassessment proceedings may be quashed.\n12. On merit, the assessee submitted before

DCIT, CENTRAL CIRCLE 2, RAJKOT, RAJKOT vs. SHRI MUKESH MANEKCHAND SHETH, RAJKOT

income and\nhence, the notice issued u/s. 148 of the Act is barred by the limitation period of\ntime prescribed u/s. 149 of the Act.In view of the above, it was submitted that\nproceedings initiated u/s147 of the Act are wholly and ipso facto invalid and\nhence, reassessment proceedings may be quashed.\n12. On merit, the assessee submitted before

MANSUKHBHAI KANJIBHAI SAKARIYA,RAJKOT vs. PRINCIPAL COMMISSIONER OF INCOME TAX, RAJKOT-1, RAJKOT

In the result, appeal filed by the assessee is allowed

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकरअपीलसं/.Ita No.318/Rjt/2024 "नधा"रणवष"/ Assessment Year: 2016-17 Mansukhbhai Kanjibhai Sakariya The Pr.Commissioner Of बनाम At Khajuri Gundala Income Tax-1, Rajkot. Post Station: Vavdi Vs. Amarnagar, Khajuri Gundala. Pan : Aslps 7027 E (अपीलाथ"/Assessee) : (""यथ"/Respondent) "नधा"रतीक"ओरसे/Assessee By : Shri Rajendra Singhal, Ld.Ar राज"वक"ओरसे/Revenue By : Shri Sanjay Punglia, Ld.Cit-Dr

reassessment order itself is not valid, therefore, subsequent order passed by the ld.Pr.CIT by exercising the revisionary jurisdiction is also bad in law. 6.The assessee also submitted before ld. PCIT that during the assessment proceedings, the assessing officer has conducted sufficient inquiry in respect of the issue raised by the ld. Pr. CIT. The assessee also submitted before the ld.Pr.CIT

MUKESH MANEKCHAND SHETH,RAJKOT vs. THE DCIT-ACIT, CENTRAL CIRCLE-2, RAJKOT, RAJKOT

income and\nhence, the notice issued u/s. 148 of the Act is barred by the limitation period of\ntime prescribed u/s. 149 of the Act.In view of the above, it was submitted that\nproceedings initiated u/s147 of the Act are wholly and ipso facto invalid and\nhence, reassessment proceedings may be quashed.\n12. On merit, the assessee submitted before

DCIT, CENTRAL CIRCLE 1, RAJKOT, RAJKOT vs. SHRI MUKESH MANEKCHAND SHETH, RAJKOT

income and\nhence, the notice issued u/s. 148 of the Act is barred by the limitation period of\ntime prescribed u/s. 149 of the Act.In view of the above, it was submitted that\nproceedings initiated u/s147 of the Act are wholly and ipso facto invalid and\nhence, reassessment proceedings may be quashed.\n12. On merit, the assessee submitted before

R K DREAMLAND,RAJKOT vs. DCIT, CC-1, RAJKOT, RAJKOT

business income for the year under consideration is enhanced by Rs.2,40,51,146/- for the year under consideration invoking provisions of Section 145(3) of the Act and after considering all the facts and submissions of the assessee.\n\n19. Aggrieved by the various additions made by the assessing officer, the assessee carried the matter in appeal before

R K DREAMLAND,RAJKOT vs. DCIT, CC-1, RAJKOT, RAJKOT

business income for the year under consideration is enhanced by Rs.2,40,51,146/- for the year under consideration invoking provisions of section 145(3) of the Act and after considering all the facts and submissions of the assessee.\n\n19. Aggrieved by the various additions made by the assessing officer, the assessee carried the matter in appeal before