BHAVANI INDUSTRIES INDIA LLP,RAJKOT vs. ACIT, CIRCLE-2, RAJKOT, RAJKOT

In the result, summarised and concise ground No

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./ Ita No. 247 To 250 & 260/Rjt/2024 "नधा"रण वष"/ Assessment Years: 2012-13, 2013-14, 2017-18 2018-19 & 2010-11 Bhawani Industries India Llp Assistant Commissioner Of बनाम/ Income-Tax, Cicle-2(1), Rajkot, C/1-B, 236/3 Gidc, Aji Industrial Room No.311, 3Rd Floor, Aaykar Estate, Rajkot-36 003 Vs. Bhawan, Race Course Ring Road, Rajkot-360 001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacfb 8046 R (अपीलाथ"/Assessee) (""यथ"/Respondent) आयकर अपील सं/.Ita No.254 To 256/Rjt/2024 "नधा"रण वष"/ Assessment Years: 2010-11, 2012-13 & 2013-14 Bhawani Industries India Llp Assistant Commissioner Of Income- C/1-B, 236/3 Gidc, Aji बनाम/ Tax, Cicle-2(1), Rajkot, Room No.311, Industrial Estate, Rajkot-36 3Rd Floor, Aaykar Bhawan, Race Vs. 003 Course Ring Road, Rajkot-360 001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacfb 8046 R (अपीलाथ"/Assessee) (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee By : Shri Mehul Ranpura, Ld.Ar राज"व क" ओर से/Revenue By : Shri Sanjay Punglia, Ld. Cit-Dr & Shri Abhimanyu Singh Yadav, Sr-Dr

1). Textile Machinery Corporation Ltd. Vs. CIT (1977) 107 ITR 195 (SC); (2). CIT v. Indian Aluminium Co. Ltd. (1977) 108 ITR 367 (SC); (3). CIT v. Shree Digvijay Cement Co. Ltd. (1983) 144 ITR 532 (Guj); (4). CIT v. Shri Digvijay Cement Co. Ltd. (1986) 159 ITR 253 (Guj); (5). Saurashtra Cement and Chemical Industries

THE JT. CIT (EXEMPTIONS)(OSD), CIRCLE-2,, AHMEDABAD vs. GYANGANGA EDUCATION SOCIETY,, RAJKOT

In the result, the Revenue appeal is hereby dismissed

Bench: Us That This Similar Issue Is Being Adjudicated By The Very Same Bench Of This Tribunal In Assessee’S Own Case In Ita Nos. 15 & 16/Rjt/2015 Vide Order Dated 29.06.2022 Relating To The Assessment Years 2010-11 & 2011-12. Further This Order Has Been Followed In Ita No. 472, 1170 & 2316/Ahd/2017 For The Assessment Years 2012-13, 2013-14 & 2014-15 By Order Dated 31.08.2022. Now The Present Assessment Year Is 2015-16, Which Is Fully Covered By The Above Orders Of This Tribunal & Copy Of The Orders Are Also Placed On Record.

transfer pricing regime also, these two yardsticks are applied to determine arm's length price. In my view, the A.O. has erroneously ignored these two yardsticks and went on to adopt improper benchmark of municipal valuation. Under both these yardsticks, the appellant has reasonably justified that the building rent paid to specified persons was not only reasonable but also concessional

THE DCIT, (EXEMPTION) CIRCLE-2,, AHMEDABAD vs. GYANGANGA EDUCATION SOCIETY,, RAJKOT-GUJARAT

In the result the appeals filed by the Revenue are hereby dismissed

Bench: Smt.Annapurna Gupta & T.R. Senthil Kumar

transfer pricing regime also, these two yardsticks are applied to determine arm's length price. In my view, the A.O. has erroneously ignored these two yardsticks and went on to adopt improper benchmark of municipal valuation. Under both these yardsticks, the appellant has reasonably justified that the building rent paid to specified persons was not only reasonable but also concessional

THE DCIT, (EXEMPTION) CIRCLE-2,, AHMEDABAD vs. GYANGANGA EDUCATION SOCIETY,, RAJKOT-GUJARAT

In the result the appeals filed by the Revenue are hereby dismissed

Bench: Smt.Annapurna Gupta & T.R. Senthil Kumar

transfer pricing regime also, these two yardsticks are applied to determine arm's length price. In my view, the A.O. has erroneously ignored these two yardsticks and went on to adopt improper benchmark of municipal valuation. Under both these yardsticks, the appellant has reasonably justified that the building rent paid to specified persons was not only reasonable but also concessional

BHAVANI INDUSTRIES INDIA LLP,RAJKOT vs. ACIT, CIRCLE-2(1), RAJKOT, RAJKOT

1). Textile Machinery Corporation Ltd. Vs. CIT (1977) 107 ITR 195 (SC);\n(2). CIT v. Indian Aluminium Co. Ltd. (1977) 108 ITR 367 (SC);\n(3). CIT v. Shree Digvijay Cement Co. Ltd. (1983) 144 ITR 532 (Guj);\n(4). CIT v. Shri Digvijay Cement Co. Ltd. (1986) 159 ITR 253 (Guj);\n(5). Saurashtra Cement and Chemical Industries

BHAVANI INDUSTRIES INDIA LLP,RAJKOT vs. ADDI. CIT, RANGE-2, RAJKOT, RAJKOT

1). Textile Machinery Corporation Ltd. Vs. CIT (1977) 107 ITR 195 (SC);\n(2). CIT v. Indian Aluminium Co. Ltd. (1977) 108 ITR 367 (SC);\n(3). CIT v. Shree Digvijay Cement Co. Ltd. (1983) 144 ITR 532 (Guj);\n(4). CIT v. Shri Digvijay Cement Co. Ltd. (1986) 159 ITR 253 (Guj);\n(5). Saurashtra Cement and Chemical Industries

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1), RAJKOT, RAJKOT vs. BHAWANI INDUSTRIES INDIA LLP, RAJKOT

In the result, summarised and concise ground No

1). Textile Machinery Corporation Ltd. Vs. CIT (1977) 107 ITR 195 (SC);\n(2). CIT v. Indian Aluminium Co. Ltd. (1977) 108 ITR 367 (SC);\n(3). CIT v. Shree Digvijay Cement Co. Ltd. (1983) 144 ITR 532 (Guj);\n(4). CIT v. Shri Digvijay Cement Co. Ltd. (1986) 159 ITR 253 (Guj);\n(5). Saurashtra Cement and Chemical Industries

ASSISTANT COMMISSINER OF IINCOME TAX CIRCLE-2(1), RAJKOT, RAJKOT vs. BHAWANI INDUSTRIES INDIA LLP, RAJKOT

1). Textile Machinery Corporation Ltd. Vs. CIT (1977) 107 ITR 195 (SC);\n(2). CIT v. Indian Aluminium Co. Ltd. (1977) 108 ITR 367 (SC);\n(3). CIT v. Shree Digvijay Cement Co. Ltd. (1983) 144 ITR 532 (Guj);\n(4). CIT v. Shri Digvijay Cement Co. Ltd. (1986) 159 ITR 253 (Guj);\n(5). Saurashtra Cement and Chemical Industries

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1), RAJKOT, RAJKOT vs. BHAWANI INDUSTRIES INDIA LLP, RAJKOT

1). Textile Machinery Corporation Ltd. Vs. CIT (1977) 107 ITR 195 (SC);\n(2). CIT v. Indian Aluminium Co. Ltd. (1977) 108 ITR 367 (SC);\n(3). CIT v. Shree Digvijay Cement Co. Ltd. (1983) 144 ITR 532 (Guj);\n(4). CIT v. Shri Digvijay Cement Co. Ltd. (1986) 159 ITR 253 (Guj);\n(5). Saurashtra Cement and Chemical Industries

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-2(1), RAJKOT, RAJKOT vs. BHAWANI INDUSTRIES INDIA LLP, RAJKOT

1). Textile Machinery Corporation Ltd. Vs. CIT (1977) 107 ITR 195 (SC);\n(2). CIT v. Indian Aluminium Co. Ltd. (1977) 108 ITR 367 (SC);\n(3). CIT v. Shree Digvijay Cement Co. Ltd. (1983) 144 ITR 532 (Guj);\n(4). CIT v. Shri Digvijay Cement Co. Ltd. (1986) 159 ITR 253 (Guj);\n(5). Saurashtra Cement and Chemical Industries

DCIT, CENTRAL CIRCLE 1, RAJKOT, RAJKOT vs. SHRI DEEPAK MOHANLAL PURSWANI, RAJKOT

253 254\", \"Kuchiyadad 25\nNagjiNatha\",\" for the period 01/04/1999 to 31/03/2099\n1. Extracts of loose papers\n1. At the outset, I vehemently deny each and every allegation in the show-cause notice\nand deny carrying out any unaccounted transactions, which has been worked out on\nthe basis of so-called account data (Miracle File) seized from the possession of Shri