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

sections": [ "263", "244A", "68", "10(38)", "24" ], "issues": "Whether the PCIT's revisionary order under Section 263 was justified

NISHANT PAREKH- LEGAL HEIR OF MINA PAREKH,JAMNAGAR vs. INCOME TAX OFFICER, WARD-1(3), JAMNAGAR

In the result, the appeal of the assessee is allowed

Bench: Dr. Arjun Lal Saini. आयकरअपीलसं./Ita No.215/Rjt/2025 "नधा"रणवष" / Assessment Year: (2015-2016) Nishant Parekh – Legal Heir Of Vs. Income Tax Officer Mina Parekh Aaykar Bhavan 322 Madhav Square, Opp 361001, Gujrat Avantika Complex, Limda Lane Road, Gujrat-361001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aanpp9471F (Appellant) (Respondent)

10(38) of the Act, before the assessing officer. There is no finding of the assessing officer, as to why the claim of the assessee based on these evidences is not in accordance with the law. Not only that assessing officer has added the amount of Rs.3,28,81,890/- under section 68

SAMEER SHAH (HUF),1 "SWAPNEEL" ,OPP. GURUDATATREY TEMPLE PALACE ROAD vs. INCOME TAX OFFICER, WARD 1(3), JAMNAGAR, GUJARAT

In the result, appeal filed by the assessee is allowed

Bench: Dr. Arjun Lal Saini. आयकरअपीलसं./Ita No.248/Rjt/2025 "नधा"रणवष" / Assessment Year: (2013-14) (Hybrid Hearing) Sameer Shah (Huf), Vs. The Ito Ward 1(3), 1 “Swapneel”, Opp. Jamnagar - 361001 Gurudatatrey Temple, Palace Road, Jamnagar - 361008 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aawhs3749E (Appellant) (Respondent)

section 68 of the Act. 6. Based on the facts and evidence already on records, it is clear that the claim of long- term capital gain claimed u/s. 10(38

KAUSHALIYA SAMPATLAL DUDANI,JAMNAGAR vs. INCOME TAX OFFICER, WARD 2(6), JAMNAGAR

In the result, the appeal of the assessee is allowed

Bench: Dr. Arjun Lal Sainiआयकर अपील सं./ Ita No.659/Rjt/2025 िनधा"रण वष"/Assessment Year :2012-2013 Kaushaliya Sampatlal Dudani The Ito, Ward-2(6), बनाम/ K-1/79/4 G.I.D.C., Shanker Ayakar Bhawan, Jamnagar Vs Tekri, Udyognagar, Jamnagar Jamnagar. Gujarart-361005 "ायीलेखासं./जीआइआरसं./Pan/Gir No.: Abnpd8662P (अपीलाथ"/Appellant) (""थ"/Respondent) िनधा"रती की ओर से/Assessee By : Shri Sagar Shah, Ld. Ar राज" की ओर से/Revenue By : Shri Abhimanyu Singh, Ld. Sr-Dr

10(38) of the Act.The Hon`ble Gujarat High Court in the case of PCIT v. Champalal Gopiram Agarwal, R/TAXAPPEAL NO, 366 OF 2023 JULY 25, 2023, held that the Tribunal found that assessee had discharged the initial burden cast upon it under provisions of section 68

NISHANT PAREKH - LEGAL HEIR OF MINA PAREKH,JAMNAGAR vs. INCOME TAX OFFICER, WARD 1(3), JAMNAGAR

The appeal of the assessee is allowed

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकरअपीलसं./Ita No. 196/Rjt/2025 ("नधा"रणवष"/Assessment Year: (2012-13) Nishant Parekh – Legak Heir Of Mina Income Tax Officer, Wd – 1(3), Parekh Vs. Aayakar Bhavan, 322, Madhav Square, Opp. Avantika Jamnagar – 361001 Complex, Limda Lane Road, Jamnagar – 361001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aanpp9471F (अपीलाथ"/Assessee) (""यथ"/Respondent)

10(38) of the Act. The Hon`ble Gujarat High Court in the case of PCIT v. Champalal Gopiram Agarwal, R/TAXAPPEAL NO, 366 OF 2023 JULY25,2023, held that the Tribunal found that assessee had discharged the initial burden cast upon it under provisions of section 68

BABUBHAI KANJIBHAI SAKARIYA LEGAL HEIR OF LATE SMT. UJIBEN KANJIBHAI SAKARIYA,JETPUR vs. ITO WARD 1(2)(1), RAJKOT, RAJKOT

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

38) of the Income-tax Act, 1961 (hereafter referred to as 'the Act')\n3.1 The Assessing Officer made addition of the said amount. The entire\ntransaction was treated as bogus and in the nature of penny stock. By\nadding Rs. 2,10,474/- under section 68

THE ACIT, CIRCLE-2,, JAMNAGAR vs. M/S HIRAVATI MARINE PRODUCTS (P) LTD.,, PORBANDAR

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

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed"नधा"रण वष"/Asstt. Year:2007-2008 Addl. Commissioner Of Hiravati Marine Products Pvt. Income Tax, Vs Ltd. Range-2, Porbandar, Jamnagar. Pan No: Aabch2110C "नधा"रण वष"/Asstt. Year:2008-2009

68,148/- being the disallowance on account of delay in payments made to the employer as well as employee’s contribution to provident fund. 13.1 The assessee in the year under consideration has claimed a deduction for the employees and employer contribution to provident fund amounting to Rs. 3,72,841/- and Rs. 3,95,307/- only which was paid

HIRAVATI MARINE PRODUCTS PVT. LTD.,,PORBANDAR vs. THE ADDITIONAL COMMISSIONER OF INCOME TAX, RANGE-2,, JAMNAGAR

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

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed"नधा"रण वष"/Asstt. Year:2007-2008 Addl. Commissioner Of Hiravati Marine Products Pvt. Income Tax, Vs Ltd. Range-2, Porbandar, Jamnagar. Pan No: Aabch2110C "नधा"रण वष"/Asstt. Year:2008-2009

68,148/- being the disallowance on account of delay in payments made to the employer as well as employee’s contribution to provident fund. 13.1 The assessee in the year under consideration has claimed a deduction for the employees and employer contribution to provident fund amounting to Rs. 3,72,841/- and Rs. 3,95,307/- only which was paid

THE DY. COMMR. OF INCOME TAX, CIR.-1(1), RAJKOT-GUJARAT vs. M/S REAL PROCON PVT. LTD.,, RAJKOT-GUJARAT

In the result, appeal of the Revenue is dismissed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedअपील सं./Ita No.498/Rjt/2015 िनधा"रण वष"/Asstt. Year: 2012-2013 D.C.I.T., M/S Real Procon Pvt. Ltd., Circle-1(1), Vs. Saneshwar Complex, Rajkot. Opp. Balalji Hall, 150 Ft. Ring Road, Rajkot.

38 taxmann.com 253/145 ITD 240 (Mum. - Trib.) examined the question about the application of section 68 of the Act when the company issued shares of Rs 10

BHIKHALAL PRAHALADRAI AGARWAL HUF,GANDHIDHAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, GANDHIDHAM CIRCLE, GANDHIDHAM

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita Nos.779&780/Rjt/2024 ("नधा"रण वष" / Assessment Years: 2011-12 & 2016-17) Bhikhalal Prahaladrai Agarwal- Vs. Assistant Commissioner Of Income Tax, Huf, Gandhidham Circle C/O. Sarda & Sarda, Sakar, 1St It Office, Plot No. 32, Sector No. 3, Near Floor, Dr. Radha-Krishnan Road, Iffco Colony, Gandhidham Opp. Rajkumar College Rajkot Gandhidham - 370201 Rajkot - 360001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabha4638R (Assessee) (Respondent) Assessee By : Shri Vimal Desai, Ld. Ar Respondent By : Shri Abhimanyu Singh Yadav, Ld. Sr. Dr Date Of Hearing : 05/06/2025 Date Of Pronouncement : 21/08/2025

Section 10(38) of the Act, which are reproduced below: ITA Nos.779&780/RJT/2024/AYs.2011-12&2016-17 Bhikhalal Prahladrai Agarwal-HUF 8. Therefore, Ld. Counsel for the assessee, submitted that reasons recorded by the Assessing Officer are bad in law and therefore, assessment should be quashed on this score only. 9. On merit, Ld. Counsel for the assessee submitted that assessee

BHIKHALAL PRAHLADRAI AGARWAL HUF,GANDHIDHAM vs. ASSISTANT COMMISSIONER OF INCOME TAX GANDHIDHAM CIRCLE, GANDHIDHAM

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita Nos.779&780/Rjt/2024 ("नधा"रण वष" / Assessment Years: 2011-12 & 2016-17) Bhikhalal Prahaladrai Agarwal- Vs. Assistant Commissioner Of Income Tax, Huf, Gandhidham Circle C/O. Sarda & Sarda, Sakar, 1St It Office, Plot No. 32, Sector No. 3, Near Floor, Dr. Radha-Krishnan Road, Iffco Colony, Gandhidham Opp. Rajkumar College Rajkot Gandhidham - 370201 Rajkot - 360001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabha4638R (Assessee) (Respondent) Assessee By : Shri Vimal Desai, Ld. Ar Respondent By : Shri Abhimanyu Singh Yadav, Ld. Sr. Dr Date Of Hearing : 05/06/2025 Date Of Pronouncement : 21/08/2025

Section 10(38) of the Act, which are reproduced below: ITA Nos.779&780/RJT/2024/AYs.2011-12&2016-17 Bhikhalal Prahladrai Agarwal-HUF 8. Therefore, Ld. Counsel for the assessee, submitted that reasons recorded by the Assessing Officer are bad in law and therefore, assessment should be quashed on this score only. 9. On merit, Ld. Counsel for the assessee submitted that assessee

THE DCIT, MORBI CIRCLE, , MORBI vs. M/S. CLAYRIS CERAMICS PVT. LTD.,, MORBI

In the result, the appeal of the revenue is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकरअपीलसं./Ita No. 287/Rjt/2018 With Co No. 28/Rjt/2018 निर्धररवरध/Asstt. Year: 2013-14 D.C.I.T, M/S. Clayris Ceramic Pvt. Ltd., Morbi Circle, Vs. Opp. Soriso Ceramics, Morbi. B.H Fame Ceramics Pvt., 8A-Nh, Morbi.

38 Lakh. Hence, the ground of cross objection of the assessee is hereby dismissed. 8.2 Coming to the loan credited by the other 2 parties namely Dhiman Trading Pvt Ltd and Krishna Enterprise, in this regard, we note that the assessee has furnished ledger copy of the party, ledger confirmation, ITR, bank statement showing amount credited from the parties through

MANSUKHLAL KHIMJI KHIMASIYA HUF,JAMNAGAR vs. OFFICE OF PRINCIPAL COMMISSIONER OF INCOME-TAX, JAMNAGAR, JAMNAGAR

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

38) of the Act of Rs.8,90,894/- has rendered the order passed by the assessing officer u/s 147 of the Act, dated 07/05/2021, as erroneous and prejudicial to the interest of the revenue within the meaning of section 263 of the Act to that extent, it is also to be mentioned that Assessing Officer is duty bound

BHANUBEN MANSUKHLAL KHIMASIYA,JAMNAGAR vs. OFFICE OF PRINCIPAL COMMISSIONER OF INCOME-TAX, JAMNAGAR, JAMNAGAR

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

38) of the Act of Rs.8,90,894/- has rendered the order passed by the assessing officer u/s 147 of the Act, dated 07/05/2021, as erroneous and prejudicial to the interest of the revenue within the meaning of section 263 of the Act to that extent, it is also to be mentioned that Assessing Officer is duty bound

JAYESH KHIMJI KHIMASIYA HUF,JAMNAGAR vs. OFFICE OF PRINCIPAL COMMISSIONER OF INCOME-TAX, JAMNAGAR, JAMNAGAR

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

38) of the Act of Rs.8,90,894/- has rendered the order passed by the assessing officer u/s 147 of the Act, dated 07/05/2021, as erroneous and prejudicial to the interest of the revenue within the meaning of section 263 of the Act to that extent, it is also to be mentioned that Assessing Officer is duty bound

MANSUKHLAL KHIMJI KHIMASIYA,JAMNAGAR vs. OFFICE OF PRINCIPAL COMMISSIONER OF INCOME-TAX, JAMNAGAR, JAMNAGAR

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

38) of the Act of Rs.8,90,894/- has rendered the order passed by the assessing officer u/s 147 of the Act, dated 07/05/2021, as erroneous and prejudicial to the interest of the revenue within the meaning of section 263 of the Act to that extent, it is also to be mentioned that Assessing Officer is duty bound

RADHE RENEWABLE ENERGY DEVELOPMENT PVT LTD,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 Nautiyal

10. Copy of audited accounts of the depositor wherein the loan o the appellant has been duly reflected in the balance sheet. 11. Details showing net worth of the depositor from their audited financial statement which shows that the loan advanced to the appellant constitutes a small fraction of the net worth. 5.5. The law about cash credits has been

THE DEPUTY COMMR. INCOME TAX, CIRCLE-1(2),, RAJKOT vs. M/S RADHE RENEWABLE ENERGY DEVELOPMENT PVT. LTD.,, RAJKOT

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

10. Copy of audited accounts of the depositor wherein the loan o the appellant has been duly reflected in the balance sheet. 11. Details showing net worth of the depositor from their audited financial statement which shows that the loan advanced to the appellant constitutes a small fraction of the net worth. 5.5. The law about cash credits has been