SHRI KRISHNAKUMAR RAMSINH PARMAR,,SILVASSA vs. THE INCOME TAX OFFICER,, VAPI

In the result, the appeals filed by the assessees (in ITA No

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No.1235 & 1709/Ahd/2017 ("नधा"रणवष" / Assessment Year: (2013-14) (Virtual Court Hearing) Krishnakumar Ramsinh Parmar, The Income Tax Officer, Silvassa C-Twin Bunngalow 4, Manorath Ward-Silvassa. Vs. Residency, Gurudev Complex, Silvasa-396230. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acfpp2308B (Assessee) (Respondent) Chandrasinh Ramsinh Parmar, The Income Tax Officer, Silvassa Vs. Parmarwadi, Sayli Road, Silvassa, Ward-Silvassa. Dadra & Nagar Haveli-3962310. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aiypp9167F (Assessee) (Respondent) Assessee By : Shri Hiren R Vepari - Ca Respondent By : Ms Anupama Singla – Sr. Dr सुनवाईक"तार"ख/ Date Of Hearing : 19/10/2020 घोषणाक"तार"ख/Date Of Pronouncement : 03/11/2020 आदेश / O R D E R Per Dr. A. L. Saini:

section 2 that stock- in-trade is not a capital asset. We note that in assessee`s case capital asset of land, 1677 Sq. mtr was transferred by assessee as capital contribution to the firm M/s. Sai Enterprises in the current assessment year which was treated by the firm as stock-in- trade. The said stock-in-trade

KALUBHAI DULABHAI GOLAVIYA,SURAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2, , SURAT

In the result, ground raised by the assessee is allowed

Bench: Shri Pawan Singh, Jm &Dr. A.L.Saini, Am आयकर अपीलसं./It(Ss)A No.15 & Ita No.619/Srt/2018 (िनधा"रणवष" / Assessment Years: (2011-12 &2014-15) (Virtual Court Hearing) Shri Kalubhai Dulabhai Golaviya Deputy Commissioner Of Income-Tax, B/1-2, Jalaram Society, B/H. Central Circle-2, Aaykar Bhavan, Vs. Gurunagar Society, Varachha Majura Gate, Surat-395001 Road, Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ablpp 5116 A (अपीलाथ" /Appellant) (""थ" /Respondent)

capital gain, therefore assessee is entitled to claim the deduction under section 54F of the Act. We note that assessee had claimed the deduction of Rs.31,33,611/- on account of investment of Rs.40,00,000/- in residential house out of sale proceeds of plot of land. Since, all IT(SS)A Nos.15 & ITA No.619/SRT/2018 A.Ys

R.S. TRADELINK PVT.LTD.,SURAT vs. THE ACIT.,CIRCLE-4,, SURAT

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

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No.2130/Ahd/2014 ("नधा"रणवष" / Assessment Year: (2008-09) (Virtual Court Hearing) M/S. R.S. Tradelink Pvt. Ltd., Vs. The Assistant Commissioner Plot No.17, Magdalla Port Road, Of Income Tax, Circle-4, Surat. Magdalla, Surat-395007. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcr6607A (Assessee) (Respondent)

19,60,875/- Income From Capital Gains Long Term Capital Gains Rs.9,31,56,673/- Rs.9,51,17,548/- 11. Assessed u/s.143(3).Give credit for prepaid taxes after due verification. Interest u/s.234A, 234B, 234C is charged as per calculation given in ITNS-150 which is part of this order. Issue notice under section

GIRDHARBHAI HARIBHAI GAJERA,SURAT vs. ITO(INTERNATIONAL TAXATION), SURAT

In the result, additional grounds raised by the assessee is allowed

Bench: Shri Pawan Singh, Jm &Dr. A.L.Saini, Am आयकर अपील सं./Ita No.143/Srt/2019 (िनधा"रणवष" / Assessment Year: (2015-16) (Physical Court Hearing) Girdharbhai Haribhai Gajera Income Tax Officer 1,Vrushal Nagar, Opp. (International Taxation), 107, 1St Vs. Ktargam Police Station, Floor, Anavil Business Centre, Katargam Road, Surat-35004 Adajan-Hazira Road, Opp. Star Bazar, Adajan, Surat-395009 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Abepg 7339 M (Assessee ) (Respondent)

Section 2(14) of the Act, assessee is not liable for any tax under the head “income from capital gain”. When above land was sold, assessee received consideration of Rs.2,28,72,600 which is exactly the same as Jantri value prevailing on the date of conversion hence income from business and profession in present case is nil. The assessee

KETAN N. SHAH (HUF) ,VAPI vs. THE INCOME TAX OFFICER, WARD-5, VAPI

In the result, appeal of the assessee is allowed for statistical purpose

Bench: Shri Pawan Singh, Hon'Ble & Shri Arjun Lal Saini, Hon'Bleआ.अ.सं./I.T.A No.321/Srt/2018,िनधा"रणवष"/Assessment Year: 2013-14 (Virtual Court) Ketan N. Shah (Huf), Vs. The Income Tax Officer, Plot No.275, Usha Hospital & Life Ward -5, Vapi. Science Charitable Trust, Near Cine Park, Chanod, Vapi – 396195. [Pan: Aahhk 4703 R] अपीलाथ" / Appellant ""यथ"/Respondent Shri Hardikvora– Ar िनधा"रतीक"ओरसे /Assessee By Smt. Anupama Singla – Sr.Dr राज"वक"ओरसे /Revenue By सुनवाई क" तारीख/ Date Of Hearing: 20.10.2020 उ"ोषणा क" तारीख/Pronouncement On: 20.10.2020 आदेश /O R D E R Per Pawan Singh, Judical Memebr: 1. This Appeal By The Assessee Is Directed Against The Order Of Ld.Commissioner Of Income Tax(Appeals)-1 [“Cit(A)” ], Valsad, State Of Gujarat,Dated 27.03.2018 For The Assessment Year 2013-14.This Appeal Was Initially Adjudicated Vide Order Dated 31.07.2019. However, The Order Was Recalled Vide Order Dated 02.01.2020 In Ma No.59/Srt/2019, Thus, In The Aforesaid Background, The Appeal Was Heard Afresh.The Assessee Raised The Following Grounds Of Appeal:

capital gain Ketan N. Shah (HUF) Vs. ITO, ITA No.321/SRT/2018 for A.Y.2013-14 account in Bank of Baroda and exemption under section 54F of the Act was also denied. 15. Before us, the Ld. AR of the assessee vehemently submitted that admission by the representative of assessee on misconception of law is not binding on the assessee. The assessee was clearly

JHONSON ELECTRIC COMPANY LIMITED,,VADODARA vs. THE INCOME TAX OFFICER, WARD-1(1)(3),, VADODARA

Bench: Shri Pawan Singh, Hon'Ble & Shri Arjun Lal Saini, Hon'Bleआ.अ.सं./I.T.A No.754/Ahd/2017 "नधा"रणवष"/Assessment Year: 2008-09 Jhonson Electric Company Vs. The Income Tax Officer, Limited, Ward-1(1)(3), Vadodara – 390007. C/O. C.K.Pithawala Bhimpore, Post: Dumas Dist: Surat. [Pan: Aaacj 4908 P अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओरसे /Assessee By Sh. Saurabh Soparkar With Sh. Mayur K. Swadia Ars. राज"वक"ओरसे /Revenue By Mrs. Anupama Singla – Sr. Dr सुनवाई की तारीख/ Date Of Hearing: 23.09.2020 उ"घोषणा क" तार"ख/Pronouncement On: 22.10.2020 आदेश /O R D E R Per Pawan Singh, Jm: 1. This Appeal By The Assessee Is Directed Against The Order Of Ld. Commissioner Of Income Tax (Appeals)-1, Vadodara Dated 17.01.2017 For The Assessment Year 2008-09. 2. Grounds Raised By The Assessee Read As Under: The Learned Commissioner Of Income Tax (Appeals) Has Erred In Facts “1. & In Law In Treating Long Term Capital Gain As Short Term Capital Gain. 2. Your Appellant Craves The Right To Add To Or Alter, Amend, Substitute, Delete Or Modify All Or Any Of The Above Grounds Of Appeal.”

19,34,426/-on sale of asset/ land. The assessment was completed under section 143(3) rws 147 on 11.06.2010. Again the assessment was reopened under section 147 on the basis of information received by the AO that conveyance deed of the property was cleared on 25.07.2010. The Stamp Valuation Authority valued the said property at Rs.4

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

CHANCHALBEN DAHYABHAI PATEL,DAMAN vs. INCOME TAX OFFICER, DAMAN

section 250 of the Income-tax Act, 1961 (in short, 'the Act') by\nthe National Faceless Appeal Centre, Delhi/Commissioner of Income-tax\n(Appeals) [in short, “NFAC/CIT(E)”] all dated 13.08.2024, for the Assessment\nYears (AY) 2011-12, 2013-14, 2014-15 and 2015-16, which in turn arose out of\nassessment orders passed by Assessing Officer (in short

SHRI SABBIRBHAI DAWOODBHAI SHAIKH,SURAT vs. INCOME TAX OFFICER WARD-3(1)(4), SURAT

In the result, the ground No

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Virtual Court) Shri Sabbirbhai Dawoodbhai Income Tax Officer, Ward- Shaikh, 3(1)(4), Anavil Business Vs 7/4539, Galemandi, Centre, Adajan, Surat- Lakkad Kot, 395009 Surat Pan : Aeqps 5688 Q Appellant / Assessee Respondent / Revenue

capital gain earned by the assessee as exempted under section 54F. In the result, the ground No. 2 of the appeal raised by the assessee is allowed. 14 Sh. Sabbirbhai D Shaikh 18. We find that the assessee has raised a specific ground of appeal, challenging the validity of reopening under section 147, however, the ld. CIT(A) despite recording

DCIT, CIRCLE-2(3), SURAT vs. SWASTIK ENTERPRISES, SURAT

In the result, the grounds of appeal raised by the revenue are allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Physical Hearing) D.C.I.T., Swastik Enterprises, Circle-2(3), R.S. No. 130, F.P. 36, T.P.S. 37, Vs. Surat. Behind Althan Gam, Althan, Surat. Pan No. Aakfm 1069 M Appellant/ Assessee Respondent/ Revenue

section 2(13) of Income- tax Act, which include any trade, commerce or manufacture or any adventure or concern in the nature of trade. It is settled position under law that even a single transaction or activity can also be a part of business, if it bears a clear indication of trade. If we examine the facts of the present

CHANCHALBEN DAHYABHAI PATEL,DAMAN vs. INCOME TAX OFFICER, DAMAN

section 250 of the Income-tax Act, 1961 (in short, 'the Act') by\nthe National Faceless Appeal Centre, Delhi/Commissioner of Income-tax\n(Appeals) [in short, “NFAC/CIT(E)”] all dated 13.08.2024, for the Assessment\nYears (AY) 2011-12, 2013-14, 2014-15 and 2015-16, which in turn arose out of\nassessment orders passed by Assessing Officer (in short

INCOME TAX OFFICER, WARD-3(1)(1), SURAT vs. JAYSINH GULABSINH BODANA, SURAT

In the result, the appeal filed by the Revenue (ITA No

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No. 410/Srt/2019 Assessment Year: (2015-16) (Virtual Court Hearing) The Ito, Ward-3(1)(1), Vs. Jaysingh Gulabsinh Bodana, Surat. 52/53, Ground Floor, Intercity Township, Dumbhal, Surat-395010. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ablpb 2762 L (Appellant)/(Revenue) (Respondent)/(Assessee) Cross Objection No. 17/Srt/2021 [Arising Out Of An Ita No.410/Srt/2019] Assessment Year: (2015-16) (Virtual Court Hearing) Jaysingh Gulabsinh Bodana, Vs. The Ito, Ward-3(1)(1), 52/53, Ground Floor, Intercity Township, Surat. Dumbhal, Surat-395010. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ablpb 2762 L (Appellant) (Respondent) Shri Mehul Shah, Ca Assessee By Respondent By Shri H. P. Meena, Cit(Dr) Date Of Hearing 15/06/2022 15/07/2022 Date Of Pronouncement

section 48 - Held, yes - Whether therefore, while computing capital gains arising on transfer of a capital asset acquired by assessee under a gift or will, indexed cost of acquisition has to be computed with reference to year in which previous owner first held asset and not year in which assessee became owner of asset - Held, yes [In favour of assessee

CHANCHALBEN DAHYABHAI PATEL,DAMAN vs. ITO, DAMAN

section 250 of the Income-tax Act, 1961 (in short, 'the Act') by\nthe National Faceless Appeal Centre, Delhi/Commissioner of Income-tax\n(Appeals) [in short, “NFAC/CIT(E)”] all dated 13.08.2024, for the Assessment\nYears (AY) 2011-12, 2013-14, 2014-15 and 2015-16, which in turn arose out of\nassessment orders passed by Assessing Officer (in short

CHANCHALBEN DAHYABHAI PATEL,DAMAN vs. INCOME TAX OFFICER, DAMAN

section 250 of the Income-tax Act, 1961 (in short, 'the Act') by\nthe National Faceless Appeal Centre, Delhi/Commissioner of Income-tax\n(Appeals) [in short, “NFAC/CIT(E)”] all dated 13.08.2024, for the Assessment\nYears (AY) 2011-12, 2013-14, 2014-15 and 2015-16, which in turn arose out of\nassessment orders passed by Assessing Officer (in short

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

19,091/- @ 34.6%, which is 16.8% of total sale consideration of land of Rs.5.24 crores. In case sale of property is considered in his hand, capital gains would have been paid in case of assessee of Rs.30,29,918/- as LTCG and to be taxed @ 20% after getting benefit of indexation. Thus, assessee would have paid 5.78% of the total

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1(2), SURAT vs. GEMALSINGH MOHANSINGH SOLANKI, SURAT

In the result, appeal of the Revenue is dismissed

Bench: Shri Pawan Singh, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.447/Srt/2019 (िनधा"रणवष" / Assessment Year: (2009-10) (Virtual Court Hearing) Deputy Commissioner Of Income- Gemalsinh Mohansinh Solanki Tax, Circle-2(3), Room No. 612, 6Th (Huf), 1, Chandramani Society, Vs. Opp. Madhi Ni Khamni, Bhatar Floor, Aayakar Bhavan, Nr.Majura Road, Surat-395001 Gate, Surat-395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aachg 5158 D (Appellant ) (Respondent)

section 54F was claimed. The case was subjected to scrutiny assessment u/s 143(3) for both A.Y. 2009-10 & 2010-11 and the deductions u/s 54F as claimed was allowed as under: ITA No.447/SRT/2019 A.Y. 2009-10 Gemalsinh M Solanki (HUF) Capital Investment in deduction u/s 54F gains residential unit allowed

DHIRUBHAI NANJIBHAI KACHCHADIA,VAPI vs. INCOME TAX OFFICER, WARD-2, VAPI, VAPI

In the result, this appeal of assessee is allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Physical Hearing) Dhirubhai Nanjibhai Kachchadia, I.T.O. Ward-2, B-9/83, Near Ambaji Temple, Vapi. Vs. Haria Hospital Road, Gidc, Vapi (Gujarat)-396395. Pan No. Acppk 1953 R Appellant/ Respondent Respondent/ Assessee

gain in his return of income. Thus, he has reason to believe about escapement of income of Rs. 95,60,600/- by invoking provisions of clause (b) of Explanation-2 of Section 147 of the Act. The basis of reopening is not in order for various reasons. First of all, the immovable property sold by assessee was an agricultural land

SHRI ATUL K. PATEL,SURAT vs. PR. CIT-3, SURAT, SURAT

In the result, appeal of the Assessee is allowed

Bench: Shripawan Singh, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.267/Srt/2018 (िनधा"रणवष" / Assessment Year: (2013-14) (Virtual Court Hearing) Shri Atul K. Patel, V Principal Commissioner Of Income B-34, Kalpana Society-2, Rander Road, Tax-3, Aaykar Bhavan, Majura S. Adajan Patiya, Surat. Gate, Surat. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ackpp 4749 F (Assessee) (Respondent)

gain in the assessment year 2013-14. Having examined these facts, the assessing officer had allowed the claim of the assessee. 14. The Assessing Officer has also discussed the issue of agricultural land and exemption under section 54B of the Act in his order, vide para no.4 & 5 of the assessment order wherein the Assessing Officer after taking into account

DIVYABEN PRAFULCHANDRA PARMAR,SURAT vs. INCOME TAX OFFICER, WARD 1(3)(1), 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.73/Srt/2023 (Assessment Year: 2014-15) (Physical Hearing) Divyaben Prafulchand Parmar, Vs. The Ito, Ward-1(3)(1), 1-2, Harikrishna Niwas, B/H Braham Surat. Kumari Ashram, Bhatar Road, Surat – 395017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acbpp9559Q (Appellant) (Respondent)

capital gain and not u/s 68 of the Act and therefore the provisions of section 115BBE is not applicable to the assessee. Apart from this, the Ld. Counsel relied on several judgments including the judgment of the jurisdictional High Court of Gujarat in the case of Nishant Kantilal Patel, Tax appeal No.296/2021, dated 07.01.2022 and stated that the addition made