DAGINA JEWELLERS INDIA (P) LTD,SURAT vs. ACIT, CENTRAL CIRCLE-2, SURAT

In the result, grounds Nos

Bench: Shri Pawan Singh, Hon'Ble & Dr. Arjun Lal Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

undisclosed, however it is very much related to assessee`s business, hence it should be taxable at the rate of 2.5% under the head business income and not under section 115BBE of the Act. 35. The source of income was explained and is apparently established and hence section 115BBE of the Act, is not applicable for such business receipts

DAGINA JEWELLERS INDIA (P) LTD.,SURAT vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIR.,2, SURAT

In the result, grounds Nos

Bench: Shri Pawan Singh, Hon'Ble & Dr. Arjun Lal Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

undisclosed, however it is very much related to assessee`s business, hence it should be taxable at the rate of 2.5% under the head business income and not under section 115BBE of the Act. 35. The source of income was explained and is apparently established and hence section 115BBE of the Act, is not applicable for such business receipts

DAGINA JEWELLERS INDIA (P) LTD,SURAT vs. ACIT, CENTRAL CIRCLE-2, SURAT

In the result, grounds Nos

Bench: Shri Pawan Singh, Hon'Ble & Dr. Arjun Lal Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

undisclosed, however it is very much related to assessee`s business, hence it should be taxable at the rate of 2.5% under the head business income and not under section 115BBE of the Act. 35. The source of income was explained and is apparently established and hence section 115BBE of the Act, is not applicable for such business receipts

ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, SURAT vs. M/S. DAGINA JEWELLERS PVT. LTD., , SURAT

In the result, grounds Nos

Bench: Shri Pawan Singh, Hon'Ble & Dr. Arjun Lal Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

undisclosed, however it is very much related to assessee`s business, hence it should be taxable at the rate of 2.5% under the head business income and not under section 115BBE of the Act. 35. The source of income was explained and is apparently established and hence section 115BBE of the Act, is not applicable for such business receipts

DAGINA JEWELLERS INDIA (P) LTD,SURAT vs. ACIT, CENTRAL CIRCLE-2, SURAT

In the result, grounds Nos

Bench: Shri Pawan Singh, Hon'Ble & Dr. Arjun Lal Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

undisclosed, however it is very much related to assessee`s business, hence it should be taxable at the rate of 2.5% under the head business income and not under section 115BBE of the Act. 35. The source of income was explained and is apparently established and hence section 115BBE of the Act, is not applicable for such business receipts

DY. COMMISSIONER OF INCOME TAX, CENTRA CIR.2, SURAT vs. DAGINA JEWELLERS INDIA PVT. LTD., SURAT

In the result, grounds Nos

Bench: Shri Pawan Singh, Hon'Ble & Dr. Arjun Lal Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

undisclosed, however it is very much related to assessee`s business, hence it should be taxable at the rate of 2.5% under the head business income and not under section 115BBE of the Act. 35. The source of income was explained and is apparently established and hence section 115BBE of the Act, is not applicable for such business receipts

DAGINA JEWELLERS INDIA (P) LTD,SURAT vs. ACIT, CENTRAL CIRCLE-2, SURAT

In the result, grounds Nos

Bench: Shri Pawan Singh, Hon'Ble & Dr. Arjun Lal Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

undisclosed, however it is very much related to assessee`s business, hence it should be taxable at the rate of 2.5% under the head business income and not under section 115BBE of the Act. 35. The source of income was explained and is apparently established and hence section 115BBE of the Act, is not applicable for such business receipts

INCOME TAX OFFICER, WARD-2(3)(8), SURAT vs. MAHAVEER SHANTILAL JAIN, SURAT

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.453/Srt/2019 "नधा"रण वष"/Assessment Year: (2013-14) (Physical Hearing) The Ito, Vs. Mahaveer Shantilal Jain, Ward-2(3)(8), Prop. M/S Mukesh Diamonds, 1St Surat. Office No.401, Floor, H.No.5/1171/72/73/1090, New Dtc, Hath Falia, Haripura, Surat – 395009. (Appellant) (Respondent) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aqupj6439L Appellant By Shri Ritesh Mishra, Cit(Dr) Respondent By Shri P. M. Jagasheth, Ca Date Of Hearing 08/09/2023 Date Of Pronouncement 25/09/2023

bogus purchases, observing as follows: “10.1.7 It is further seen that the Honorable Gujarat High Court in the cases decided subsequent to N K Proteins ltd (supra) has not followed it, viz in the cases of Jagdish H. Patel, TA No.411 of 2017 dtd 01/08/2017 (8% disallowance) and TEJUA ROHITKUMAR KAPADIA, Surat in TA No. 691/2017 dated 18.09.2017 (0% disallowance

KAMAL JAYANTILAL ZAVERI,SURAT vs. INCOME TAX OFFICER, WARD-1(3)(7), SURAT

In the result, ground No.3 raised by the assessee is allowed

Bench: Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.543 To 547/Srt/2023 ("नधा"रण वष" / Assessment Years: (2011-12 To 1215-16) (Physical Court Hearing) Kamal Jayantilal Zaveri Income Tax Officer, Ward B-104, Krishna Park Apartment, 1(3)(7) Surat, Aaykar Bhavan, Vs. Opp. Nutan Row House, Majura Gate, Surat-395001 Palanpur, Jakatnaka, Surat- 395009 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaapz 5662 K (अपीलाथ"/Assessee) (""थ" /Respondent)

undisclosed interest income from alleged accommodation loan entries of loans to various parties. 4. It is therefore prayed that the above addition may please be deleted as learned members of the Tribunal may deem it proper. 5. Assessee craves leave to add, alter or delete any ground(s) either before or in the course of the hearing of the appeal

KAMAL JAYANTILAL ZAVERI,SURAT vs. INCOME TAX OFFICER, WARD-1(3)(7), SURAT

In the result, ground No.3 raised by the assessee is allowed

Bench: Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.543 To 547/Srt/2023 ("नधा"रण वष" / Assessment Years: (2011-12 To 1215-16) (Physical Court Hearing) Kamal Jayantilal Zaveri Income Tax Officer, Ward B-104, Krishna Park Apartment, 1(3)(7) Surat, Aaykar Bhavan, Vs. Opp. Nutan Row House, Majura Gate, Surat-395001 Palanpur, Jakatnaka, Surat- 395009 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaapz 5662 K (अपीलाथ"/Assessee) (""थ" /Respondent)

undisclosed interest income from alleged accommodation loan entries of loans to various parties. 4. It is therefore prayed that the above addition may please be deleted as learned members of the Tribunal may deem it proper. 5. Assessee craves leave to add, alter or delete any ground(s) either before or in the course of the hearing of the appeal

KAMAL JAYANTILAL ZAVERI,SURAT vs. INCOME TAX OFFICER, WARD-1(3)(7), SURAT, SURAT

In the result, ground No.3 raised by the assessee is allowed

Bench: Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.543 To 547/Srt/2023 ("नधा"रण वष" / Assessment Years: (2011-12 To 1215-16) (Physical Court Hearing) Kamal Jayantilal Zaveri Income Tax Officer, Ward B-104, Krishna Park Apartment, 1(3)(7) Surat, Aaykar Bhavan, Vs. Opp. Nutan Row House, Majura Gate, Surat-395001 Palanpur, Jakatnaka, Surat- 395009 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaapz 5662 K (अपीलाथ"/Assessee) (""थ" /Respondent)

undisclosed interest income from alleged accommodation loan entries of loans to various parties. 4. It is therefore prayed that the above addition may please be deleted as learned members of the Tribunal may deem it proper. 5. Assessee craves leave to add, alter or delete any ground(s) either before or in the course of the hearing of the appeal

KAMAL JAYANTILAL ZAVERI,SURAT vs. INCOME TAX OFFICER, WARD-1(3)(7), , SURAT

In the result, ground No.3 raised by the assessee is allowed

Bench: Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.543 To 547/Srt/2023 ("नधा"रण वष" / Assessment Years: (2011-12 To 1215-16) (Physical Court Hearing) Kamal Jayantilal Zaveri Income Tax Officer, Ward B-104, Krishna Park Apartment, 1(3)(7) Surat, Aaykar Bhavan, Vs. Opp. Nutan Row House, Majura Gate, Surat-395001 Palanpur, Jakatnaka, Surat- 395009 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaapz 5662 K (अपीलाथ"/Assessee) (""थ" /Respondent)

undisclosed interest income from alleged accommodation loan entries of loans to various parties. 4. It is therefore prayed that the above addition may please be deleted as learned members of the Tribunal may deem it proper. 5. Assessee craves leave to add, alter or delete any ground(s) either before or in the course of the hearing of the appeal

KAMAL JAYANTILAL ZAVERI,SURAT vs. INCOME TAX OFFICER-WARD-1(3)(7), SURAT, SURAT

In the result, ground No.3 raised by the assessee is allowed

Bench: Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.543 To 547/Srt/2023 ("नधा"रण वष" / Assessment Years: (2011-12 To 1215-16) (Physical Court Hearing) Kamal Jayantilal Zaveri Income Tax Officer, Ward B-104, Krishna Park Apartment, 1(3)(7) Surat, Aaykar Bhavan, Vs. Opp. Nutan Row House, Majura Gate, Surat-395001 Palanpur, Jakatnaka, Surat- 395009 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaapz 5662 K (अपीलाथ"/Assessee) (""थ" /Respondent)

undisclosed interest income from alleged accommodation loan entries of loans to various parties. 4. It is therefore prayed that the above addition may please be deleted as learned members of the Tribunal may deem it proper. 5. Assessee craves leave to add, alter or delete any ground(s) either before or in the course of the hearing of the appeal

ARUN KUMAR GUPTA, DCIT, CIRCLE-1(3), SURAT, ADAJAN vs. CHUNIBHAI HARIBHAI GAJERA, ADARSH NAGAR SOCIETY

In the result, the appeal of the revenue is dismissed

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Prusethआयकर अपील सं./Ita Nos.778 & 779/Srt/2023 Assessment Years: (2013-14 & 2014-15) (Physical Hearing) Dcit, Vs. Chunibhai Haribhai Gajera, Circle - 1(3), 67, Adarsh Nagar Society, Athwalines, Surat Surat - 395 001 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aawpg3525A (अपीलाथ"/Appellant) (""थ" /Respondent) Appellant By Shri Mukesh Jain, Cit-Dr Respondent By Shri Rasesh Shah, Ca Date Of Hearing 03/09/2025 Date Of Pronouncement 17/11/2025

undisclosed income and accordingly made addition under section 69 of the Income Tax Act, 1961. The Appeal filed by the Assessee was dismissed by CIT (A). 5. On further Appeal, the ITAT by the impugned order allowed the claim of the assessee by recording that the purchase of shares during the year 1999-2000 and 2000-2001 were duly recorded

ARUN KUMAR GUPTA, DCIT, CIRCLE-1(3), SURAT, ADAJAN vs. CHUNIBHAI HARIBHAI GAJERA, ADARSH NAGAR SOCIETY

In the result, the appeal of the revenue is dismissed

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Prusethआयकर अपील सं./Ita Nos.778 & 779/Srt/2023 Assessment Years: (2013-14 & 2014-15) (Physical Hearing) Dcit, Vs. Chunibhai Haribhai Gajera, Circle - 1(3), 67, Adarsh Nagar Society, Athwalines, Surat Surat - 395 001 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aawpg3525A (अपीलाथ"/Appellant) (""थ" /Respondent) Appellant By Shri Mukesh Jain, Cit-Dr Respondent By Shri Rasesh Shah, Ca Date Of Hearing 03/09/2025 Date Of Pronouncement 17/11/2025

undisclosed income and accordingly made addition under section 69 of the Income Tax Act, 1961. The Appeal filed by the Assessee was dismissed by CIT (A). 5. On further Appeal, the ITAT by the impugned order allowed the claim of the assessee by recording that the purchase of shares during the year 1999-2000 and 2000-2001 were duly recorded

ASSISTANT COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE -2, SURAT vs. SHAH MAGANLAL GULABCHAND CHOKSI, SURAT

In the result, appeals of assessee are allowed for statistical purpose

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI BIJAYANANDA PRUSETH (Accountant Member)

income which can be deduced on the basis of the materials found at the time of the survey. After the transfer of various sums from bank account of the M/s Nirav & Co., the amounts were used by the assesses to purchase bullion which was not doubted by the revenue. This fact indicates that that no undisclosed investment was unearthed

SHAH MAGANLAL GULABCHAND CHOKSI,SURAT vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, SURAT

In the result, appeals of assessee are allowed for statistical purpose

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI BIJAYANANDA PRUSETH (Accountant Member)

income which can be deduced on the basis of the materials found at the time of the survey. After the transfer of various sums from bank account of the M/s Nirav & Co., the amounts were used by the assesses to purchase bullion which was not doubted by the revenue. This fact indicates that that no undisclosed investment was unearthed

UMESHKUMAR P BANSAL,SURAT vs. ITO, WARD-2(2)(4), SURAT

In the result, ground No.1 raised by the Revenue in ITA

Bench: Shri Pawan Singh, Hon'Ble & Dr. A. L. Saini, Hon'Ble Accountnat Member (Physical Hearing) Sl.

purchases debited in assessee's Trading & P & L account were bogus. (ii) On the facts and in the circumstance of the case and in law, the Ld. CIT(A) erred in restricting the addition to the extent of Rs 5,92,205/- instead of Rs.62,72,720/- made by the AO on account of unexplained credits which has been added