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

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

price within a short span of time. He has merely taken care to manage paper work to give the colour of genuineness to otherwise sham transactions. In such transactions the theory of probability comes into play. 11. The ld.PCIT noticed that with effect from 01/06/2015, Explanation 2 to the section 263(1) has been inserted which reads as under: "Explanation

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

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

price within a short span of time. He has merely taken care to manage paper work to give the colour of genuineness to otherwise sham transactions. In such transactions the theory of probability comes into play. 11. The ld.PCIT noticed that with effect from 01/06/2015, Explanation 2 to the section 263(1) has been inserted which reads as under: "Explanation

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

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

price within a short span of time. He has merely taken care to manage paper work to give the colour of genuineness to otherwise sham transactions. In such transactions the theory of probability comes into play. 11. The ld.PCIT noticed that with effect from 01/06/2015, Explanation 2 to the section 263(1) has been inserted which reads as under: "Explanation

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)

5), (iv)Transfer Certificate dated 29.11.2013(Pb page no. 6),(v)Physical certificate shares where in endorsement of transfer of shares in the name of the assessee on 29.11.2013 (Pb page no.7 to 10).Thereafter, the requisition was made by the assessee for conversion of shares in Demat form from physical form.The request for dematerialization of shares by ANS Private

PRITIBEN JAGDISHBHAI MEHTA,RAJKOT vs. THE PR. COMMISSIONER OF INCOME TAX-1, RAJKOT, RAJKOT

In the result, appeal filed by the assessee is allowed

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

5), (iv)Transfer Certificate dated 29.11.2013(Pb page no. 6),(v)Physical certificate shares where in endorsement of transfer of shares in the name of the assessee on 29.11.2013 (Pb page no.7 to 10).Thereafter, the requisition was made by the assessee for conversion of shares in Demat form from physical form. The request for dematerialization of shares

SIX TWENTY REALTY PVT. LTD.,RAJKOT vs. DCIT, CC-1, RAJKOT, RAJKOT

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

139 of the Act i.e. Rs. 2,79,91,980/-. Notice under section 143(2) of the Act issued. Further, notice under section 142(1) of the Act has been issued confronting various incriminating documents impounded during the Income-tax Survey and seeking assessee's response on the same. Issue Involved: 5. The brief facts of the case are that

SIX TWENTY REALTY PVT. LTD.,RAJKOT vs. DCIT, CC-1, RAJKOT, RAJKOT

139 of the Act i.e. Rs.\n2,79,91,980/-. Notice under section 143(2) of the Act issued. Further, notice under\nsection 142(1) of the Act has been issued confronting various incriminating\ndocuments impounded during the Income-tax Survey and seeking assessee's\nresponse on the same.\n\nIssue Involved:\n\n5. The brief facts of the case

SIX TWENTY REALTY PVT LTD,RAJOT vs. DCIT, CC-1, RAJKOT, RAJKOT

139 of the Act i.e. Rs.\n2,79,91,980/-. Notice under section 143(2) of the Act issued. Further, notice under\nsection 142(1) of the Act has been issued confronting various incriminating\ndocuments impounded during the Income-tax Survey and seeking assessee's\nresponse on the same.\n\nIssue Involved:\n\n5. The brief facts of the case

DCIT, CENTRAL CIRCLE-1, RAJKOT, RAJKOT vs. SIX TWENTY REALTY PRIVATE LIMITED, RAJKOT

139 of the Act i.e. Rs.\n2,79,91,980/-. Notice under section 143(2) of the Act issued. Further, notice under\nsection 142(1) of the Act has been issued confronting various incriminating\ndocuments impounded during the Income-tax Survey and seeking assessee's\nresponse on the same.\n\nIssue Involved:\n\n5. The brief facts of the case

GLOBAL EXTRUSIONS PVT. LTD. ,JAMNAGAR vs. THE PR. CIT, JAMNAGAR, JAMNAGAR

Bench: Dr. Arjun Lal Saini, Am. & Dinesh Mohan Sinha, Jm आयकरअपीलसं./Ita No.203/Rjt/2024 "नधा"रणवष" / Assessment Year: (2013-14) (Hybrid Hearing) Global Extrusions Private Limited. Vs. Pcit Jamnagar, Ca Govind Sonecha Taranjali Building, “S&A House”, Near Golden City, Jamnagar 361008 80Ft Road, Khodiyar Colony, B/H Saru Section Police Headquarters, Jamnagar 361006 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcm4319E (Appellant) (Respondent) Appellant By : Ms. Amoli Gusani, Ld. Ar Respondent By : Shri Sanjay Punglia, Ld. (Cit)Dr Date Of Hearing : 19/03 /2025 Date Of Pronouncement : 09/06/2025

139 of the Income Tax Act, 1961 on 30.09.2014. The case of the appellant was re-opened u/s 147 of the Act on the basis of the information received from the Investigation Wing that M/s Moral Alloy (P) Ltd is an accommodation entry provider and the assessee company is a beneficiary of such accommodation entity through M/s Ankit Metals

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE vs. MARUTI ENTERPRISE, RAJKOT

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhasr. It(Ss)A No Assessment Assessee Name Respondent Name No. Year 1. 12/Rjt/2024 2014-15 Deputy Commissioner Shri Chetan Dhirajlal Rokad Of Income-Tax, Central 1, Pearl Plaza, 150 Ft Ring Circle-1, Rajkot, Road, Near G.T. School “Amruta Estate” 2Nd Rajkot-360 001 Floor, M.G. Road, Rajkot-360 001 Pan.:Afkpr4637P 2. 13/Rjt/2024 2014-15 Deputy Commissioner Shri Nikhilbhai Jamnadas Of Income-Tax, Central Patel Circle-1, Rajkot, P-1, Decora Highland, “Amruta Estate” 2Nd Avadh Main Road, Opp. Floor, M.G. Road, Classic Party Plot Rajkot- Rajkot-360 001 360 005 Pan No.: Agipp 1294 K 3. 17/Rjt/2024 2013-14 Deputy Commissioner Shri Dhirajlal Ravji Rokad Of Income-Tax, Central 1, Pearl Plaza, 150 Ft Ring Circle-1, Rajkot, Road, Near G.T. School “Amruta Estate” 2Nd Rajkot-360 001 Floor, M.G. Road, Rajkot-360 001 Panno.:Abopr5408A 19 & 2017-18 & Deputy Commissioner Shri Rohitkumar Maganlal 4. 20/Rjt/2024 2018-19 Of Income-Tax, Central Sanepara Circle-1, Rajkot, Kangshiyani Road, Opp. “Amruta Estate” 2Nd Sundaram Vidhyalaya, Floor, M.G. Road, Dholra Chokdi, Kothariya, Rajkot-360 001 Rajkot-360 004 Panno.:Aaopp4848H 5. 59-60/Rjt/2023 2017-18 & Deputy Commissioner M/S Maruti Enterprise 2018-19 Of Income-Tax, Central Decora West Hills, Near Classic Party Plot, Opp. Circle-1, Rajkot, Kalawa Road, Rajkot-360 “Amruta Estate” 2Nd 005 Floor, M.G. Road, Rajkot-360 001 Panno.:Abdfm3140K 6. 228/Rjt/2023 2019-20 Deputy Commissioner M/S Maruti Enterprise Of Income-Tax, Central

139 of the Act, on 31.05.2018, showing therein income of Rs.2,48,320/-. The assessee-firm was constituted on 06.07.2016 with the following partners: 1. M/s Decora Housing LLP – 60% 2. Shri Arvind Parshottambhai Patel – 5% stake 3. Shri Chirag Arvind Patel – 5% stake 4. Shri Ujash Janadas Vachhani – 5% stake 5. Shri Kaushik Popatlal Rathod – 5% stake 6. Shri

JAMNADAS PURSHOTAM PATEL,RAJKOT vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTER-1, RAJKOT

139 of the Act, on\n31.05.2018, showing therein income of Rs.2,48,320/-. The assessee-firm was\nconstituted on 06.07.2016 with the following partners:\n1. M/s Decora Housing LLP – 60%\n2. Shri Arvind Parshottambhai Patel – 5% stake\n3. Shri Chirag Arvind Patel – 5% stake\n4. Shri Ujash Janadas Vachhani – 5% stake\n5. Shri Kaushik Popatlal Rathod – 5% stake\n6. Shri

SHRI PANKAJ CHIMANLAL LODHIYA,RAJKOT vs. THE ACIT, CEN. CIR.-2, RAJKOT

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

Bench: Ms. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Transfer Pricing Officer-2, Ahmedabad and therefore the time limitation for completion of scrutiny was extended. Assessment in this case was completed u/s 143(3) r.w.s. 92CA of the Act vide order dated 24/12/2018 and the total income was determined at Rs.2,62,08,060/- by making addition of Rs.1,80,000/- on account of deemed rent. Since the assessee

DILIP KANTILAL KUBAVAT,PORBANDAR vs. ITO WD 2(3), PORBANDAR, PORBANDAR

In the result, appeal filed by the assessee is allowed

Bench: Dr. Arjun Lal Sainiआयकर अपील सं./ Ita No.522/Rjt/2025 "नधा"रण वष"/Assessment Year :2016-17 Dilip Kantilal Kubavat Ito बनाम/ Prop. Vijay Dairy Farm, Ward 2 (3), Vs Near Ramdhun S V P Road, Porbandar 360575 Porbandar - 360575 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Azfpk8009B (अपीलाथ"/Appellant) (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee By : Shri Sagar Shah, Ld. Ar राज"व क" ओर से/Revenue By : Shri Dheeraj Kumr Gupta, Ld. Sr-Dr सुनवाई क" तार"ख /Date Of Hearing : 09/09/2025 घोषणा क" तार"ख /Date Of Pronouncement : 14 /10/2025 आदेश/Order Per, Dr. Arjun Lal Saini, A.M The Present Appeal Has Been Filed By The Assessee, Against The Order Passed By The Learned Commissioner Of Income Tax (Appeal) [Hereinafter Referred To As “Cit(A)”], Dated 21.03.2025, Arising In The Matter Of Assessment Order Passed U/S 143(3) Of The Income Tax Act, 1961 (Here-In-After Referred To As “The Act”) Relevant To The Assessment Year 2016-17. 2. In This Appeal, The Assessee Has Raised Multiple Grounds Of Appeal. However, The Solitary Grievance Of The Assessee Is That The Ld Cit(A) Erred In Not To Consider The Basic Fact That The Assessee Has Gifted The Property To His Sister In Law (Younger Brother'S Wife) That Is, To A Relative For A Consideration Dilip Kantilal Kubavat

5. I have heard both the parties on this preliminary issue. I have gone through the contents of the petition for condonation of delay. The learned Counsel adverted my attention to the reasons for condonation of delay before Ld.CIT(A) and urged for a benign view and sought condonation of delay of 80 days in filing the appeal before

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

transfer of shares\ntook place through D-mat account. Further, it has been mentioned that all details\nregarding the purchase/sale of shares i.e. evidence of purchase of shares, evidence\nof payment for purchase of shares made by way of account payee cheque, copy of\nbank statement, copy of balance sheet disclosing investments, copy of demat account\nstatement reflecting purchases, evidence

MISS PARI ANIL GANDHI, RAJKOT,RAJKOT vs. THE PR. CIT-1, RAJKOT, RAJKOT

transfer of shares\ntook place through D-mat account. Further, it has been mentioned that all details\nregarding the purchase/sale of shares i.e. evidence of purchase of shares, evidence\nof payment for purchase of shares made by way of account payee cheque, copy of\nbank statement, copy of balance sheet disclosing investments, copy of demat account\nstatement reflecting purchases, evidence

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

5 of 14 Kaushaliya Sampatlal Dudani KGN Limited for sum of Rs.1,62,250/- and subsequently these shares were sold for sum of Rs.82,02,300/-. The resultant capital gains of Rs.80,06,545/-was claimed exempted u/s 10(38). The assessing officer alleged it to be penny stock and he claimed that the trading in such stock was controlled

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE vs. ARYAN ARCADE LIMITED , RAJKOT

section 143(3)/153A r.w.s. 143(3) of the Income Tax\nAct, 1961 (in short ‘the Act').\n2.\nSince, the issues involved in all the appeals are common and identical;\ntherefore, these appeals have been heard together and are being disposed of\nby this consolidated order.\n3.\nIn this group of five appeals, four appeals are pertaining to M/s Aryan