THE ASSISTANT COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE,, GANDHINAGAR vs. M/S KUTCH SALT & ALLIED INDUSTRIES LTD.,, GANDHIDHAM

In the result, cross objections filed by the assessee are allowed for statistical purposes

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhait (Ss)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 To 2012-13) (Hybrid Hearing) Asstt. Commissioner Of Income Tax, Vs. M/S. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaact1769L (Appellant) (Respondent)

price in cash or otherwise. Therefore, after having regard to the given facts and circumstances of the case, in our considered opinion, the action of the ld CIT(A) does not warrant any interference. Accordingly, the ground of appeals of Revenue are dismissed. 29. In the result, following grounds raised by the revenue, are dismissed: (i) Ground

THE ASSISTANT COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE,, GANDHIDHAM-KUTCH vs. M/S KUTCH SALT & ALLIED INDUSTRIES LTD.,, GANDHIDHAM-KUTCH

In the result, cross objections filed by the assessee are allowed for statistical purposes

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhait (Ss)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 To 2012-13) (Hybrid Hearing) Asstt. Commissioner Of Income Tax, Vs. M/S. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaact1769L (Appellant) (Respondent)

price in cash or otherwise. Therefore, after having regard to the given facts and circumstances of the case, in our considered opinion, the action of the ld CIT(A) does not warrant any interference. Accordingly, the ground of appeals of Revenue are dismissed. 29. In the result, following grounds raised by the revenue, are dismissed: (i) Ground

THE ASSISTANT COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE,, GANDHINAGAR vs. M/S KUTCH SALT & ALLIED INDUSTRIES LTD.,, GANDHIDHAM

In the result, cross objections filed by the assessee are allowed for statistical purposes

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhait (Ss)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 To 2012-13) (Hybrid Hearing) Asstt. Commissioner Of Income Tax, Vs. M/S. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaact1769L (Appellant) (Respondent)

price in cash or otherwise. Therefore, after having regard to the given facts and circumstances of the case, in our considered opinion, the action of the ld CIT(A) does not warrant any interference. Accordingly, the ground of appeals of Revenue are dismissed. 29. In the result, following grounds raised by the revenue, are dismissed: (i) Ground

THE ASSISTANT COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE,, GANDHINAGAR vs. M/S KUTCH SALT & ALLIED INDUSTRIES LTD.,, GANDHIDHAM

In the result, cross objections filed by the assessee are allowed for statistical purposes

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhait (Ss)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 To 2012-13) (Hybrid Hearing) Asstt. Commissioner Of Income Tax, Vs. M/S. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaact1769L (Appellant) (Respondent)

price in cash or otherwise. Therefore, after having regard to the given facts and circumstances of the case, in our considered opinion, the action of the ld CIT(A) does not warrant any interference. Accordingly, the ground of appeals of Revenue are dismissed. 29. In the result, following grounds raised by the revenue, are dismissed: (i) Ground

DUSHYANT BHARATBHAI MEHTA,RAJKOT vs. ITO WD-(2)(1)(2) , RAJKOT

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

73,27,000/-. Out of this, 50% was shown purchase of his\nbrother Shri Paras Mehta, without executing any transfer deed or getting the\nsale officially registered. This transfer was only Rs. 37,01,000/-. The assessee\nthereafter showed huge cost of improvement in the development of the new\nacquired property and the entire sum was claimed as exempt

THE DEPUTY COMMR. OF INCOME TAX, CEN. CIR.1,, RAJKOT vs. JAYESH HARAKHJI PATEL,, RAJKOT

In the result, all appeals filed by the different assessee's and Revenue\nare allowed for statistical purposes

price. As per IT Act, any purchase in cash above Rs. 20,000 (now 10,000) is not\npermitted. Buyers across India deposit the cash purchase-amount into the bank-account of\nself-styled Angadiya/shroff, who remitted cash to seller, after deducting commission. In\ncertain instances, such Bank-accounts were also used for layering and delayering of funds in\nthe

R K DREAMLAND,RAJKOT vs. DCIT, CC-1, RAJKOT, RAJKOT

73,200/- made in the purchase of land at R.S.No. 74/3 paiki 1 Rajkot as culled out from the seized Miracle data.\n\nSelection for scrutiny\n\n9. As details regarding unaccounted part of the aforementioned transactions pertaining to the assessee have been gathered from the seized material during the search operation, the case of the assessee has been

R K DREAMLAND,RAJKOT vs. DCIT, CC-1, RAJKOT, RAJKOT

73,200/- made in the purchase of land at R.S.No. 74/3 paiki 1 Rajkot as culled out from the seized Miracle data.\n\nSelection for scrutiny\n\n9. As details regarding unaccounted part of the aforementioned transactions pertaining to the assessee have been gathered from the seized material during the search operation, the case of the assessee has been

R K DREAMLAND,RAJKOT vs. DCIT, CC-1, RAJKOT, RAJKOT

73,200/- made in the purchase of land at R.S.No. 74/3 paiki 1 Rajkot as culled out from the seized Miracle data.\n\nSelection for scrutiny\n\n9. As details regarding unaccounted part of the aforementioned transactions pertaining to the assessee have been gathered from the seized material during the search operation, the case of the assessee has been

DCIT, CENTRAL CIRCLE 1, RAJKOT, RAJKOT vs. R K DREAMLAND, RAJKOT

73,200/- made in the purchase of land at\nR.S.No. 74/3 paiki 1 Rajkot as culled out from the seized Miracle data.\nSelection for scrutiny\n9. As details regarding unaccounted part of the aforementioned transactions\npertaining to the assessee have been gathered from the seized material during the\nsearch operation, the case of the assessee has been re-opened

DCIT, CENTRAL CIRCLE 1, RAJKOT, RAJKOT vs. R K DREAMLAND, RAJKOT

73,200/- made in the purchase of land at\nR.S.No. 74/3 paiki 1 Rajkot as culled out from the seized Miracle data.\nSelection for scrutiny\n9. As details regarding unaccounted part of the aforementioned transactions\npertaining to the assessee have been gathered from the seized material during the\nsearch operation, the case of the assessee has been re-opened

R K DREAMLAND,RAJKOT vs. DCIT, CC-1, RAJKOT, RAJKOT

73,200/- made in the purchase of land at\nR.S.No. 74/3 paiki 1 Rajkot as culled out from the seized Miracle data.\nSelection for scrutiny\n9. As details regarding unaccounted part of the aforementioned transactions\npertaining to the assessee have been gathered from the seized material during the\nsearch operation, the case of the assessee has been re-opened

R K DREAMLAND,RAJKOT vs. ACIT, CC-1, RAJKOT, RAJOKT

73,200/- made in the purchase of land at\nR.S.No. 74/3 paiki 1 Rajkot as culled out from the seized Miracle data.\nSelection for scrutiny\n9. As details regarding unaccounted part of the aforementioned transactions\npertaining to the assessee have been gathered from the seized material during the\nsearch operation, the case of the assessee has been re-opened

RK DREAMLAND,RAJKOT vs. ACIT, CC-1, RAJKOT, RAJKOT

73,200/- made in the purchase of land at\nR.S.No. 74/3 paiki 1 Rajkot as culled out from the seized Miracle data.\nSelection for scrutiny\n9. As details regarding unaccounted part of the aforementioned transactions\npertaining to the assessee have been gathered from the seized material during the\nsearch operation, the case of the assessee has been re-opened

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

price received by the seller of the units for which the seller has already\nincurred the cost in order to acquire or process the inventory. Therefore, it is the\nrealization of excess consideration over the cost incurred which should be\nassessed as profit or income. In other words, profit component embedded in the\nsales could be treated as income. Recently

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

transfer of stakes, then this would have come in the statement of Shri Nikhil Patel,\nwho had spontaneously stated about Kuldeep Rathod being replaced by Shri Malay\nMehta.\n12.3 It is further contended that, Differential amount of Rs. 11,58,08,110/- was claimed\nto be contributed by Shri Jamnadas Patel [who is a partner of Decora Housing LLP]\nand

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

In the result, assessee's ground No

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

price which is mentioned in the pricelist itself could be the subject matter of cross-examination. Therefore, it was not for the Adjudicating Authority to presuppose as to what could be the subject matter of the cross-examination and make the remarks as mentioned above. We may also point out that on an earlier occasion when the matter came before

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

In the result, assessee's ground No

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

price which is mentioned in the pricelist itself could be the subject matter of cross-examination. Therefore, it was not for the Adjudicating Authority to presuppose as to what could be the subject matter of the cross-examination and make the remarks as mentioned above. We may also point out that on an earlier occasion when the matter came before