MUKESH ARVINDLAL VAKHARIA,SURAT vs. ITO, WARD 2(3)(3), SURAT

Appeal is partly allowed for statistical purposes

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.491/Srt/2019 "नधा"रण वष"/Assessment Year: (2014-15) (Physical Hearing) Mukesh Arvindlal Vakharia, Vs. The Ito, Ward-2(3)(3), C/O Arvind Silk Mills, Om Baug, Ashvini Surat. Kumar Road, Surat - 395006. (Appellant) (Respondent) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Abcpv1682L

gains arising from transfer of one or more original asset, during the financial year in which the original asset or assets are transferred and in the subsequent financial year does not exceed fifty lakh rupees. This amendment will take effect from 1st April, 2015 and will, accordingly, apply in relation to assessment year 2015-16 and subsequent assessment years

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIR. -4, SURAT vs. SHRI HITESHKUMAR LALJIBHAI PATEL, SURAT

In the result, the ground of appeal raised by revenue is dismissed

Bench: Shri Pawan Singh & Dr Arjun Lal Sainiआ.अ.सं./Ita No.295/Srt/2023 (Ay 2018-19) (Hearing In Virtual Court) Deputy Commissioner Of Income- Shri Hiteshkumar Laljibhai Tax, Central Circle-4, Surat, Room Patel, 52, Narayanmuni Nagar Vs No.508, 5Th Floor, Aayakar Society, Nani Ved Road, Surat- Bhawan, Majura Gate, Surat- 395004 Pan Aanpp 3560 B 395001 अपीलाथ"/Appellant ""थ" /Respondent

capital gains in case of firm is more than 2.75 times than would have been payable in the hands of assessee. The credit of TDS was not claimed by firm Paramhansh as it was not reflected in their Form 26AS. The Assessing Officer ignored the submission and evidence filed by the assessee and added STCG of Rs.2.46 crores unjustifiably

SHREE SALASAR SAREES,SURAT vs. ITO, WARD 1(2)(6), SURAT

In the result, the appeal of the assessee is partly allowed for statical purpose

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Prusethआयकर अपील सं./Ita No.1154/Srt/2024 Assessment Year: (2015-16) (Hybrid Hearing) Shree Salasar Sarees Vs. Ito, D-1401, Raghukul Textile Market, Ward – 1(2)(6), Ring Road, Surat – 395002 Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No: Abqfs5653Q (Appellant) (Respondent) Appellant By Shri Mehul Shah, Ca Respondent By Shri Ajay Uke, Sr. Dr Date Of Hearing 07/08/2025 Date Of Pronouncement 04/11/2025

depreciation accordingly. Thereafter, the AO issued a show cause notice as to why provisions of section 50 of the Act be not applied and treated the transfer of building as short- term capital gain

PUNIT SHANTILAL SHAH,BHARUCH vs. ASST. COMMISSIONER OF INCOME TAX, BHARUCH

In the result, this appeal of the assessee is partly allowed

Bench: Shri Pawan Singh(Virtual Hearing) Punit Shantilal Shah, A.C.I.T., 106, Pritam Society No. 2, Circle-1, Vs. Maktampur Society No. 2, Bharuch. Maktampur Road,Bharuch-392001. Email;Mumundra@Gmail.Com Pan No. Aifps 2952 Q Appellant/ Assessee Respondent/ Revenue

Capital Gain) and from ‘other sources’ for the year under consideration. The assessee filed his return of income on 30/09/2022 declaring income of Rs. 29,92,610/-. The case was selected for scrutiny. During the assessment, the Assessing Officer noted that the assessee has claimed loss of Rs. 4,88,642/-. The assessee was issued show cause notice to produce

DINESHBHAI JIVANBHAI SANSPARA,SURAT vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, SURAT

In the result, appeal of the assessee is partly allowed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No.435/Srt/2018 ("नधा"रणवष" / Assessment Year: (2013-14) (Physical Court Hearing) Dineshbhai Jivanbhai Sanspara The Principal Commissioner Of Income 1117,F-Tower, Green Avenue, Tax-1, Room No.123, Aayakar Vs. Union Park Gali Ghod Dod Bhawan, Majura Gate, Surat-395001 Road, Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Adaps 6038 H अपीलाथ"/ Appellant ""थ" / Respondent

capital gains by assessee. Here in the case of there is no dispute that the assessee has invested the amount towards plot of land, and incurred expense for development of land and construction of property. Intention of the assessee to invest money in a residential unit to avail exemption u/s 54 Delhi High Court has observed in the case

KRISTINA NATHABHAI KRICHCHAN,SURAT vs. DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(3), SURAT

In the result, appeal filed by the assessee is allowed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.349/Srt/2022 "नधा"रण वष"/Assessment Year: (2016-17) (Physical Hearing) Kristina Nathabhai Krichchan, Vs. The Dcit, Circle-2(3), 2/4, Zankhana Apartment, Surat. 21 Narmad Nagar Society, Athwalines, Surat – 395001. (Assessee) (Respondent) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Dwipk2888D Assessee By Shri P. M. Jagasheth, Ca Respondent By Shri Ashok B. Koli, Cit(Dr) 10/05/2023 Date Of Hearing Date Of Pronouncement 26/06/2023

capital gain being charged to income-tax as income of the previous year in which the transfer took place, . . ." 3. The Assessing Officer, the appellate authority as well as the Tribunal rejected the claim of the assessee in respect of the assessment year 1975-76 on the ground that he did not become the owner of the property

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4, SURAT, SURAT vs. SAHAJANAND MEDICAL TECHNOLOGIES LIMITED, SURAT

In the result, appeal of revenue is dismissed whereas CO of assessee is dismissed as infructuous

Bench: Ms. Suchitra R. Kammble & Shri Bijayananda Prusethआयकर अपील सं./Ita Nos.364 & 366/Srt/2025 Ays: (2020-21 & 2018-19) (Physical Hearing) Dcit, Vs. Sahajanand Medical Technologies Central Circle – 4, Limited, Surat 221, C-Wing, Kanakia Atrium Andheri Kurla Road, Jb Nagar, Andheri East, Mumbai - 400059 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aafcs7694L (Appellant) (Respondent) Co. No.11/Srt/2025 (Ay 2018-19) [Arising Out Of Ita No.366/Srt/2025] Sahajanand Medical Technologies Vs. Dcit, Limited, Central Circle – 4, 221, C-Wing, Kanakia Atrium Andheri Surat Kurla Road, Jb Nagar, Andheri East, Mumbai - 400059 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aafcs7694L (Appellant) (Respondent) Appellant By Shri Rajesh C. Shah, Ca Respondent By Shri Ravinder Sindhu, Cit-Dr Date Of Hearing 28/08/2025 Date Of Pronouncement 19/09/2025

gain on capital loan given to its foreign subsidiary. The loan was quasi capital in nature in foreign currency (Euro). The interest received on such loan was offered as a income from other source. The notional income is on account of the exchange difference on conversion of loans into Indian Rupee on the date of balance sheet. He further submitted

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4, SURAT, SURAT vs. SAHAJANAND MEDICAL TECHNOLOGIES LIMITED, SURAT

In the result, appeal of revenue is dismissed whereas CO of assessee is dismissed as infructuous

Bench: Ms. Suchitra R. Kammble & Shri Bijayananda Prusethआयकर अपील सं./Ita Nos.364 & 366/Srt/2025 Ays: (2020-21 & 2018-19) (Physical Hearing) Dcit, Vs. Sahajanand Medical Technologies Central Circle – 4, Limited, Surat 221, C-Wing, Kanakia Atrium Andheri Kurla Road, Jb Nagar, Andheri East, Mumbai - 400059 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aafcs7694L (Appellant) (Respondent) Co. No.11/Srt/2025 (Ay 2018-19) [Arising Out Of Ita No.366/Srt/2025] Sahajanand Medical Technologies Vs. Dcit, Limited, Central Circle – 4, 221, C-Wing, Kanakia Atrium Andheri Surat Kurla Road, Jb Nagar, Andheri East, Mumbai - 400059 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aafcs7694L (Appellant) (Respondent) Appellant By Shri Rajesh C. Shah, Ca Respondent By Shri Ravinder Sindhu, Cit-Dr Date Of Hearing 28/08/2025 Date Of Pronouncement 19/09/2025

gain on capital loan given to its foreign subsidiary. The loan was quasi capital in nature in foreign currency (Euro). The interest received on such loan was offered as a income from other source. The notional income is on account of the exchange difference on conversion of loans into Indian Rupee on the date of balance sheet. He further submitted

SATHAIYA GANAPATHY,PUDUKOTTAI vs. ITO, WARD 1 , BARDOLI

In the result, the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Prusethआयकर अपील सं./Ita No.329 & 330/Srt/2025 Assessment Years: (2015-16) (Physical Hearing) Sathaiya Ganapathy, Vs. Ito, Ts No.4114, South 3 Rd Street, Ward – 1, Pukukottai, Tamil Nadu - 622001 Bardoli "थायीलेखासं./जीआइआरसं./Pan/Gir No: Ahbpg2414Q (अपीलाथ"/Appellant) (""थ" /Respondent) Appellant By Shri Mayank A. Ogriwala, Ca Respondent By Shri Ajay Uke, Sr. Dr Date Of Hearing 02/09/2025 Date Of Pronouncement 26/11/2025

capital gains from share transactions amounting to Rs.35,543/- were earned, however, the AO while assessing the STCG, erroneously applied tax rate of 30% (maximum marginal rate) instead of the concessional 15% rate as prescribed u/s.111A of the Act. The Ld. AR further stated that the aforesaid STCG arose from transactions in listed equity shares, executed through a recognized stock

SATHAIYA GANAPATHY,PUDUKOTTAI vs. ITO, WARD 1, BARDOLI

In the result, the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Prusethआयकर अपील सं./Ita No.329 & 330/Srt/2025 Assessment Years: (2015-16) (Physical Hearing) Sathaiya Ganapathy, Vs. Ito, Ts No.4114, South 3 Rd Street, Ward – 1, Pukukottai, Tamil Nadu - 622001 Bardoli "थायीलेखासं./जीआइआरसं./Pan/Gir No: Ahbpg2414Q (अपीलाथ"/Appellant) (""थ" /Respondent) Appellant By Shri Mayank A. Ogriwala, Ca Respondent By Shri Ajay Uke, Sr. Dr Date Of Hearing 02/09/2025 Date Of Pronouncement 26/11/2025

capital gains from share transactions amounting to Rs.35,543/- were earned, however, the AO while assessing the STCG, erroneously applied tax rate of 30% (maximum marginal rate) instead of the concessional 15% rate as prescribed u/s.111A of the Act. The Ld. AR further stated that the aforesaid STCG arose from transactions in listed equity shares, executed through a recognized stock

BILAKHIA HOLDINGS PVT. LTD.,VAPI vs. THE ACIT.,VAPI CIRCLE, VAPI

In the result, the appeal of the assessee is allowed for assessment year 2010-11

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

capital gain as an addition under section 115JB of the Act. Bilakhia Holdings Pvt. Ltd. v. ACIT- Vapi/ I.T.A.No.507/Ahd/2013/AY08-09/A.Y. 08-09 I.T.A.No’s.1415 & 1416/Ahd/2015/A.Y. 09-10 & 10-11 AND I.T.A.No.795/Ahd/2016/A.Y. 11-12 Page 4 of 66 6. Being, aggrieved, the assessee filed an appeal before the Ld.CIT(A). Before whom, it was submitted that the assessment has been

BILAKHIA HOLDINGS PVT. LTD.,,VAPI vs. THE ADDL.CIT.,VAPI RANGE,, VAPI

In the result, the appeal of the assessee is allowed for assessment year 2010-11

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

capital gain as an addition under section 115JB of the Act. Bilakhia Holdings Pvt. Ltd. v. ACIT- Vapi/ I.T.A.No.507/Ahd/2013/AY08-09/A.Y. 08-09 I.T.A.No’s.1415 & 1416/Ahd/2015/A.Y. 09-10 & 10-11 AND I.T.A.No.795/Ahd/2016/A.Y. 11-12 Page 4 of 66 6. Being, aggrieved, the assessee filed an appeal before the Ld.CIT(A). Before whom, it was submitted that the assessment has been

BILAKHIA HOLDINGS PVT. LTD.,,VAPI vs. THE JT.CIT.,VAPI RANGE,, VAPI

In the result, the appeal of the assessee is allowed for assessment year 2010-11

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

capital gain as an addition under section 115JB of the Act. Bilakhia Holdings Pvt. Ltd. v. ACIT- Vapi/ I.T.A.No.507/Ahd/2013/AY08-09/A.Y. 08-09 I.T.A.No’s.1415 & 1416/Ahd/2015/A.Y. 09-10 & 10-11 AND I.T.A.No.795/Ahd/2016/A.Y. 11-12 Page 4 of 66 6. Being, aggrieved, the assessee filed an appeal before the Ld.CIT(A). Before whom, it was submitted that the assessment has been

BILAKHIA HOLDING P LTD,VAPI vs. THE JT.CIT.,VAPI RANGE,, VAPI

In the result, the appeal of the assessee is allowed for assessment year 2010-11

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

capital gain as an addition under section 115JB of the Act. Bilakhia Holdings Pvt. Ltd. v. ACIT- Vapi/ I.T.A.No.507/Ahd/2013/AY08-09/A.Y. 08-09 I.T.A.No’s.1415 & 1416/Ahd/2015/A.Y. 09-10 & 10-11 AND I.T.A.No.795/Ahd/2016/A.Y. 11-12 Page 4 of 66 6. Being, aggrieved, the assessee filed an appeal before the Ld.CIT(A). Before whom, it was submitted that the assessment has been

D V PROPERTIES PVT. LTD.,SURAT vs. PR. COMMISSIONER OF INCOME TAX - 1, SURAT

In the result, appeal filed by the assessee is partly allowed to the extent indicated above

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.121/Srt/2023 Assessment Year: (2018-19) (Physical Hearing) D. V. Properties Pvt. Ltd., Vs. The Pcit - 1, 748-749, Golden Plaza Market, Surat. Ring Road, Surat – 395002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaacd8392B (Appellant) (Respondent) Ms Chaitali Shah, Ca Appellant By Shri Ashok B. Koli, Cit(Dr) Respondent By Date Of Hearing 19/07/2023 Date Of Pronouncement 29/08/2023

Capital Gain of Rs.4,61,11,299/- on the Multiplex sold during the year under consideration. The working of the STCG has been examined and noticed that the assesses has debited ITA No.121/SRT/2023/AY.2018-19 D. V. Properties Pvt. Ltd. an amount of Rs.3,85,407/- on account of addition during the year. However, on perusal of the submission available

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, SURAT vs. M/S SURAT LIFE CARE PVT. LTD., SURAT

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.160/Srt/2023 Assessment Year: (2013-14) (Physical Hearing) The Acit, Vs. M/S. Surat Life Care Pvt. Ltd., Central Circle – 3, Unique Hospital, Opp. Kiran Motor, Surat Nr. Sosyo Circle Lane, Surat - 395002 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aarcs8396M (Appellant) (Respondent) Appellant By Shri Vinod Kumar, Sr. Dr Shri P. M. Jagasheth, Ca Respondent By 14/12/2023 Date Of Hearing Date Of Pronouncement 21/12/2023

depreciation. The assessee again filed revised Return of Income in which deduction u/s 35AD of the Act was revised to Rs.4,74,44,030/- @ 150% of the expenditure. However, no documentary evidences viz-a-viz details of expenditure of capital nature incurred, date of commencement of operation of the new hospital, copy of various licenses and permission required and number