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

section 37(1)/ 28 of the Act. Thus we disagree with the contention of the learned CIT-A. 12.1 Thus after considering the facts in totality, we are of the view that The Assessing Officer had emphasized on the fact that the assessee failed to produce the necessary details of the parties. Indeed such details of the parties were

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

section 37(1)/ 28 of the Act. Thus we disagree with the contention of the learned CIT-A. 12.1 Thus after considering the facts in totality, we are of the view that The Assessing Officer had emphasized on the fact that the assessee failed to produce the necessary details of the parties. Indeed such details of the parties were

SHRI VINODKUMAR HIRALAL RAJA,,RAJKOT vs. THE INCOME TAX OFFICER, INTL. TAXN., RAJKOT

In the result, Ground No. 1 of the assessee’s appeal is allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

28,77,320/- after making addition of Rs. 9,15,56,045/- being unexplained investment under Section 69 of the Act and Rs. 10 lakhs under Section 68

SMT. PRATIMABEN V. RAJA,,RAJKOT vs. THE INCOME TAX OFFICER, INTL. TAXN., RAJKOT

In the result, Ground No. 1 of the assessee’s appeal is allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

28,77,320/- after making addition of Rs. 9,15,56,045/- being unexplained investment under Section 69 of the Act and Rs. 10 lakhs under Section 68

PARESH DAYASHANKAR MADEKA,RAJKOT vs. THE INCOME TAX OFFICER, WARD-2(2)(3), RAJKOT

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

28,005/-. The Assessing Officer treated these as unexplained cash credit and expenditure, respectively, and added them to the assessee's income. The CIT(A) upheld these additions.", "held": "The Tribunal held that the assessee had established the identity, creditworthiness, and genuineness of the loan transactions. Reliance was placed on various judicial precedents regarding Section 68

THE ACIT, CIRCLE- 1,, RAJKOT-GUJARAT vs. SMT. MANISHABEN N. MASHRU,, RAJKOT-GUJARAT

In the result, appeal of the Revenue in ITA No

Bench: Shri Pramod Kumar & Shri Rajpal Yadavsr.No.

section 68 of the Income Tax Act, 1961. According to the AO, the assessee failed to explain source of credit entries and also failed to reconcile entries with other material. Accordingly he treated alleged credit entries as unexplained cash credit of the assessee and made addition of Rs.5,10,28

SHRI CHANDUBHAI RAMJIBHAI KAQTHIRIYA,JASDAN, DIST. RAJKOT-364490 vs. THE CIT(A), NFAC, DELHI, DELHI

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

Bench: Us Is That The Ld. Cit(A) Erred In Upholding Addition Of Rs. 14,32,782/- Being 50 Percent Of Agricultural Income Treating As Unexplained Cash Credit U/S. 68 Of The Income Tax Act In The Absence Of Books Of Accounts.

Section 68 r.w.s. 115BBE of the act which in our considered opinion, is not correct in law. The assessee has shown I.T.A No. 168/Rjt/2021 A.Y. 2017-18 Page No 6 Chandubhai R. Kaqthiriya. Vs. CIT(A) gross total income of Rs. 340 only for the Assessment Year and agricultural income of Rs. 28

M/S. SARJU VITRIFIED PVT. LTD.,MORBI-363641 vs. THE PR. CIT-1, RAJKOT, RAJKOT

In the result, the appeal of the assessee is allowed

68 r.w.s. 115BBE of the Act.\n6. Aggrieved by the order of the ld. Pr. CIT, the assessee is in appealbefore us.\n7. Shri Vimal Desai, Learned Counsel for the assessee submitted that during the\nassessment proceedings, the assessee submitted entire documents and\nevidences, before the assessing officer. The ld.AOissuednotice under section\n8\nM/s.Sarju Vitrified P Ltd.\nITA No.83/RJT/2023

SHRI SANJAYBHAI GORDHANBHAI JAKSANIA,,RAJKOT-GUJARAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2 ,, RAJKOT-GUJARAT

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 68 of the Act. Accordingly, the amount of ₹68 lakhs was added to the total income of the assessee. Aggrieved assessee preferred an appeal to the learned CIT (A). ITA Nos.174/Rjt/2014 and 26 appeals Shri Dineshbhhai G.Jakasania vs. DCIT and 3 Other Groups AYs – 2005-06 to 2008-09 & 2010-11 & 2011-12 6. The assessee before

SHRI GHANSHYAMBHAI GORDHANBHAI JAKSANIA,,RAJKOT-GUJARAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2,, RAJKOT-GUJARAT

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 68 of the Act. Accordingly, the amount of ₹68 lakhs was added to the total income of the assessee. Aggrieved assessee preferred an appeal to the learned CIT (A). ITA Nos.174/Rjt/2014 and 26 appeals Shri Dineshbhhai G.Jakasania vs. DCIT and 3 Other Groups AYs – 2005-06 to 2008-09 & 2010-11 & 2011-12 6. The assessee before

SHRI KISHOR GORDHANBHAI JAKSANIA,,RAJKOT-GUJARAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2,, RAJKOT-GUJARAT

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

section 68 of the Act. Accordingly, the amount of ₹68 lakhs was added to the total income of the assessee. Aggrieved assessee preferred an appeal to the learned CIT (A). ITA Nos.174/Rjt/2014 and 26 appeals Shri Dineshbhhai G.Jakasania vs. DCIT and 3 Other Groups AYs – 2005-06 to 2008-09 & 2010-11 & 2011-12 6. The assessee before

M/S. GREEN EARTH BIOGAS PVT. LTD.,SURENDRANAGAR vs. THE PR. CIT-3, AHMEDABAD, AHMEDABAD

In the result, appeal filed by the assessee is dismissed

28,858/-, which\nwere acquired prior to 30.09.2016, with the opening WDV of Rs.4,18,04,396/-,\non which depreciation of Rs.4,22,83,452/- had been claimed for the first half of\nthe previous year. However, the Tax Auditor himself has reported as under :\n\"Borrowing cost incurred upto the date of commercial productions i.e. 01.10.2016,\nhas been capitalized

FUSION GRANITO PRIVATE LIMITED,MORBI vs. THE PR. COMMISSIONER OF INCOME TAX - 1, RAJKOT, RAJKOT

In the result, the appeal filed by the assessee is allowed for statistical purposes, in above terms

Bench: Dr. A. L. Saini, Am & Shri Dinesh Mohan Sinha, Jm आयकर अपील सं./Ita No.190/Rjt/2023 (िनधा"रण वष" / Assessment Year: (2018-19) (Physical Hearing) Fusion Granito Pvt. Ltd. बनाम/ Principal Commissioner Of Income Revenue Survey No.555/P1/91, Tax-1, Vs. Nr. Khokhra Hanuman Temple, 2Nd Jetpar Road, Morbi-363641 Rajkot, Floor, “Aayakar Bhawan”, Race Course Ring Road, Rajkot-360001 "ायीलेखासं./जीआइआरसं./Pan/Gir No.: Aadcf 0696 B (अपीलाथ"/Appellant) (""थ" /Respondent) अपीलाथ" ओर से/ Appellant By Shri Bandish Soparkar, Ar ""थ" की ओर से/Respondent By Shri Praveen Verma, Cit Dr सुनवाई की तारीख/Date Of Hearing 24/06/2025 घोषणा की तारीख /Date Of Pronouncement 10/09/2025 आदेश / O R D E R Per Dr. Arjun Lal Saini, A.M By Way Of This Appeal, The Assessee Has Challenged The Correctness Of The Order Passed By The Learned Principal Commissioner Of Income Tax - 1, Rajkot [In Short ‘Ld. Pcit’], Dated 27.03.2023, Under Section 263 Of The Income Tax Act, 1961 [Hereinafter Referred To As The ‘Act’] For The Assessment Year (Ay) 2018-19. 2. Grievances Raised By The Assessee, Which, Being Interconnected, Will Be Taken Up Together, Are As Follows: “1. The Revision Order U/S 263 Of The Act Dated 28.03.2023 Is Bad In Law. 2. The Hon’Ble Pr. Cit-1, Rajkot Has Erred In Law As Well As On Facts In Completing The Revision Proceedings U/S 263 Of The Act Hurriedly In Short Span Of Time Fusion Granito Pvt. Ltd.

28,000/- (Rs.2,65,53,000/- unsecured loan + Rs.9,,93,75,000/- share capital). As per the proviso to Section 68

THE DY. COMMR. OF INCOME TAX, CIRCLE-1(1),, RAJKOT-GUJARAT vs. M/S. RADHE RENEWABLE ENERGY DEVELOPEMENT PVT. LTD.,, RAJKOT-GUJARAT

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

section 68 of the Act. In view of the above, we do not find any infirmity in the order of Ld. CIT (A). 23.8 Once the addition made by the AO has been treated by us, holding the loan transaction and share application transaction between the assessee and M/s RNG Finlease Pvt. Ltd, as genuine, the corresponding addition made

M/S RADHE RENEWABLE ENERGY DEVELOPMENT PVT. LTD.,,RAJKOT-GUJARAT vs. THE ASSTT. COMMR. INCOME TAX, CIRCLE-5,, RAJKOT-GUJARAT

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

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

section 68 of the Act. In view of the above, we do not find any infirmity in the order of Ld. CIT (A). 23.8 Once the addition made by the AO has been treated by us, holding the loan transaction and share application transaction between the assessee and M/s RNG Finlease Pvt. Ltd, as genuine, the corresponding addition made

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

section 68 of the Act. In view of the above, we do not find any infirmity in the order of Ld. CIT (A). 23.8 Once the addition made by the AO has been treated by us, holding the loan transaction and share application transaction between the assessee and M/s RNG Finlease Pvt. Ltd, as genuine, the corresponding addition made

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

section 68 of the Act. In view of the above, we do not find any infirmity in the order of Ld. CIT (A). 23.8 Once the addition made by the AO has been treated by us, holding the loan transaction and share application transaction between the assessee and M/s RNG Finlease Pvt. Ltd, as genuine, the corresponding addition made

M/S NIHAL PROJECTS,KACHCHH vs. ITO WARD 2 , GANDHIDHAM

In the result, the appeal is allowed in the terms indicated above

68 of the I.T. Act, 1961.\n(6). That, the Ld. CIT(A) has wrongly confirmed application of provisions of\nsection 115BBE of the I.T. Act, 1961.\n(7). That, the Ld. CIT(A) has wrongly confirmed initiation of penalty proceedings\nu/s 274 r.w.s. 270A and 271AAC of the I.T. Act, 1961.\n(8). That