HOLLIS VITRIFIED PRIVATE LIMITED,MORBI, GUJARAT, INDIA vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX - 1, RAJKOT, RAJKOT, GUJARAT, INDIA

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

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinhaआयकरअपीलसं./Ita No. 363/Rjt/2024 (Assessment Year: 2018-19) (Hybrid Hearing) Hollis Vitrified Pvt. Ltd. Vs. The Pr. Commissioner Of Income Revenue Survey No. 756/P1/P1/P1, Opp. Tax-1, Rajkot Antique Granito, Ghuntu,-Lakhdhirpur Road, Morbi (Gujarat)-363642 "ायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacch5628Q (अपीलाथ"/Appellant) (""थ"/Respondent)

1,08,43,431/-. 3. Later on, Learned Principal Commissioner of Income-tax (in short “Ld PCIT”) has exercised his jurisdiction under section 263 of the Income- tax Act, 1961. On perusal of case records, it was observed by ld.PCIT that the assessee had introduced huge amount in the company account in the form of Share Application money amounting

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

43 the only sections which can be made appli cable are either section 36 or 37. I have already stated above that the assessee-company's learned counsel is not relying on section 36 but is relying on section 37 and to me it appears that sections 28 and 29 read together do not show

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

43 the only sections which can be made appli cable are either section 36 or 37. I have already stated above that the assessee-company's learned counsel is not relying on section 36 but is relying on section 37 and to me it appears that sections 28 and 29 read together do not show

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

43,236/-, as there was error in considering gold and silver\nrate and mistake in calculation thereof. Accordingly total income revised at\nRs.61,87,59,134/-.\n\nThe Ld CIT(A)-12, Ahmedabad in order No. CIT(A)-ll/C, C. 2/Raj/086-\nR/2017-18, dated 26.03.2018, granted relief to the assessee, aggregating to\nRs.50,18,25,184/-, in respect of various additions

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

43,236/-, as there was error in considering gold and silver\nrate and mistake in calculation thereof. Accordingly total income revised at\nRs.61,87,59,134/-.\n8.\nThe Ld CIT(A)-12, Ahmedabad in order No. CIT(A)-ll/C, C. 2/Raj/086-\nR/2017-18, dated 26.03.2018, granted relief to the assessee, aggregating to\nRs.50,18,25,184/-,\nin respect of various additions

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

43,236/-, as there was error in considering gold and silver\nrate and mistake in calculation thereof. Accordingly total income revised at\nRs.61,87,59,134/-.\n8. The Ld CIT(A)-12, Ahmedabad in order No. CIT(A)-ll/C, C. 2/Raj/086-\nR/2017-18, dated 26.03.2018, granted relief to the assessee, aggregating to\nRs.50,18,25,184/-, in respect of various additions

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

43,236/-, as there was error in considering gold and silver\nrate and mistake in calculation thereof. Accordingly total income revised at\nRs.61,87,59,134/-.\n8.\nThe Ld CIT(A)-12, Ahmedabad in order No. CIT(A)-ll/C, C. 2/Raj/086-\nR/2017-18, dated 26.03.2018, granted relief to the assessee, aggregating to\nRs.50,18,25,184/-, in respect of various additions

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

43,236/-, as there was error in considering gold and silver\nrate and mistake in calculation thereof. Accordingly total income revised at\nRs.61,87,59,134/-.\n8. The Ld CIT(A)-12, Ahmedabad in order No. CIT(A)-ll/C, C. 2/Raj/086-\nR/2017-18, dated 26.03.2018, granted relief to the assessee, aggregating to\nRs.50,18,25,184/-, in respect of various additions

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

43,236/-, as there was error in considering gold and silver\nrate and mistake in calculation thereof. Accordingly total income revised at\nRs.61,87,59,134/-.\n8.\nThe Ld CIT(A)-12, Ahmedabad in order No. CIT(A)-ll/C, C. 2/Raj/086-\nR/2017-18, dated 26.03.2018, granted relief to the assessee, aggregating to\nRs.50,18,25,184/-, in respect of various additions

SHRI LALJIBHAI KHIMJIBHAI PATEL,,BHUJ vs. THE INCOME TAX OFFICER, WARD-2,, BHUJ

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

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Waseem Ahmed Hon’Ble

43. In ground no.7, the assessee has challenged charging of interest under sections 234B/C/D. It is consequential in nature. ITA No.712/RJT/2010 & Others Shri Laljibhai Khimjibhai Patel Vs. ITO 26 44. In the result, appeal of the assessee is partly allowed for statistical purpose 45. Now we take ITA No.390/Ahd/2013. In this appeal grievance of the assessee is that

SHRI LALJI KHIMJI PATEL,,BHUJ vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRASL CIRCLE-II,, RAJKOT-GUJARAT

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

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Waseem Ahmed Hon’Ble

43. In ground no.7, the assessee has challenged charging of interest under sections 234B/C/D. It is consequential in nature. ITA No.712/RJT/2010 & Others Shri Laljibhai Khimjibhai Patel Vs. ITO 26 44. In the result, appeal of the assessee is partly allowed for statistical purpose 45. Now we take ITA No.390/Ahd/2013. In this appeal grievance of the assessee is that

SHRI LALJIBHAI KHIMJIBHAI PATEL,,BHUJ vs. THE INCOME TAX OFFICER, WARD-2,, BHUJ

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

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Waseem Ahmed Hon’Ble

43. In ground no.7, the assessee has challenged charging of interest under sections 234B/C/D. It is consequential in nature. ITA No.712/RJT/2010 & Others Shri Laljibhai Khimjibhai Patel Vs. ITO 26 44. In the result, appeal of the assessee is partly allowed for statistical purpose 45. Now we take ITA No.390/Ahd/2013. In this appeal grievance of the assessee is that

SHRI LALJI KHIMJI PATEL,,BHUJ vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRASL CIRCLE-II,, RAJKOT-GUJARAT

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

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Waseem Ahmed Hon’Ble

43. In ground no.7, the assessee has challenged charging of interest under sections 234B/C/D. It is consequential in nature. ITA No.712/RJT/2010 & Others Shri Laljibhai Khimjibhai Patel Vs. ITO 26 44. In the result, appeal of the assessee is partly allowed for statistical purpose 45. Now we take ITA No.390/Ahd/2013. In this appeal grievance of the assessee is that

SHRI LALJI KHIMJI PATEL,,BHUJ vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRASL CIRCLE-II,, RAJKOT-GUJARAT

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

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Waseem Ahmed Hon’Ble

43. In ground no.7, the assessee has challenged charging of interest under sections 234B/C/D. It is consequential in nature. ITA No.712/RJT/2010 & Others Shri Laljibhai Khimjibhai Patel Vs. ITO 26 44. In the result, appeal of the assessee is partly allowed for statistical purpose 45. Now we take ITA No.390/Ahd/2013. In this appeal grievance of the assessee is that

SHRI LALJIBHAI KHIMJIBHAI PATEL,,BHUJ vs. THE INCOME TAX OFFICER, WARD-2,, BHUJ

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

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Waseem Ahmed Hon’Ble

43. In ground no.7, the assessee has challenged charging of interest under sections 234B/C/D. It is consequential in nature. ITA No.712/RJT/2010 & Others Shri Laljibhai Khimjibhai Patel Vs. ITO 26 44. In the result, appeal of the assessee is partly allowed for statistical purpose 45. Now we take ITA No.390/Ahd/2013. In this appeal grievance of the assessee is that

SHRI LALJIBHAI KHIMJIBHAI PATEL,,BHUJ vs. THE INCOME TAX OFFICER, WARD-2,, BHUJ

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

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Waseem Ahmed Hon’Ble

43. In ground no.7, the assessee has challenged charging of interest under sections 234B/C/D. It is consequential in nature. ITA No.712/RJT/2010 & Others Shri Laljibhai Khimjibhai Patel Vs. ITO 26 44. In the result, appeal of the assessee is partly allowed for statistical purpose 45. Now we take ITA No.390/Ahd/2013. In this appeal grievance of the assessee is that

SHRI LALJI KHIMJI PATEL,,BHUJ vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRASL CIRCLE-II,, RAJKOT-GUJARAT

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

Bench: Shri Rajpal Yadav, Hon’Ble & Shri Waseem Ahmed Hon’Ble

43. In ground no.7, the assessee has challenged charging of interest under sections 234B/C/D. It is consequential in nature. ITA No.712/RJT/2010 & Others Shri Laljibhai Khimjibhai Patel Vs. ITO 26 44. In the result, appeal of the assessee is partly allowed for statistical purpose 45. Now we take ITA No.390/Ahd/2013. In this appeal grievance of the assessee is that

GOPAL SNACKS PVT LTD ,RAJKOT vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1(1), RAJKOT

68 of unsecured loans\nreceived of Rs.85,00,000/-, ought to have considered the understated vital facts,\nbeing;\na) The exhaustive documentary evidences, being Ledger, Confirmation,\nPAN, Own bank statement, I.T return, bank statement and balance sheet\nof lenders and TDS certificate for interest payment to prove the identity,\ngenuineness and credit-worthiness of the lenders has not been disproved