SHRI BHADRESH RAMNIKLAL NAGDA,JAMNAGAR vs. THE ITO, WARD-3(1), JAMNAGAR

In the result, ground number 2 of the assessee’s appeal is allowed for statistical purposes

Bench: Shri Waseem Ahmed (Accountant Member), Shri Siddhartha Nautiyal (Judicial Member)

price and Valuation made by Department VO without complying various legal formalities to be observed as stated under section 56 2vii like purchase is made by appellant by payment of extra money or location and joint owner ship and agricultural land etc. hence addition is prejudicial and illegal and contrary to the fact of the case hence Rs 387500/- retained

THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, RAJKOT vs. SHRI PANKAJ CHIMANLAL LODHIYA, RAJKOT

Appeals are dismissed, Assessee's appeals are partly allowed

price for the levy of excise\nduty. Whether the goods were, in fact, sold to the said dealers/witnesses at the\nprice which is mentioned in the pricelist itself could be the subject matter of\ncross-examination. Therefore, it was not for the Adjudicating Authority to\npresuppose as to what could be the subject matter of the cross-examination\nand make

THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, RAJKOT vs. SHRI PANKAJ CHIMANLAL LODHIYA, RAJKOT

price for the levy of excise\nduty. Whether the goods were, in fact, sold to the said dealers/witnesses at the\nprice which is mentioned in the pricelist itself could be the subject matter of\ncross-examination. Therefore, it was not for the Adjudicating Authority to\npresuppose as to what could be the subject matter of the cross-examination\nand make