SUSHILABEN PRAVINBHAI AHIR,,SURAT vs. THE INCOME TAX OFFICER, WARD-2(1)(2), SURAT

In the result, the grounds of appeal raised by the assessee(s) are allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Virtual Court) िनधा"रणवष"/ S.N. आ.अ.सं./ अपीलाथ"/Appellant Vs ""थ"/Respondent Ay:

capital asset’ as defined under section 2(14)(iii)(a) of the Act. The land transferred by individual assessee(s) does not falls in the Municipal Area. Hazira Notified area is not a 6 ITA No(s). 55 to 60, 62 ,63,221 &222/SRT/2017 Municipal area or deemed municipal area, therefore, the receipt/ gain

PRAVINBHAI SUKHABHAI AHIR,,SURAT vs. THE INCOME TAX OFFICER, WARD-2(1)(3),, SURAT

In the result, the grounds of appeal raised by the assessee(s) are allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Virtual Court) िनधा"रणवष"/ S.N. आ.अ.सं./ अपीलाथ"/Appellant Vs ""थ"/Respondent Ay:

capital asset’ as defined under section 2(14)(iii)(a) of the Act. The land transferred by individual assessee(s) does not falls in the Municipal Area. Hazira Notified area is not a 6 ITA No(s). 55 to 60, 62 ,63,221 &222/SRT/2017 Municipal area or deemed municipal area, therefore, the receipt/ gain

SMT.NANDIBEN SUKHABHAI AHIR,,SURAT vs. THE INCOME TAX OFFICER, WARD-2(1)(2),, SURAT

In the result, the grounds of appeal raised by the assessee(s) are allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Virtual Court) िनधा"रणवष"/ S.N. आ.अ.सं./ अपीलाथ"/Appellant Vs ""थ"/Respondent Ay:

capital asset’ as defined under section 2(14)(iii)(a) of the Act. The land transferred by individual assessee(s) does not falls in the Municipal Area. Hazira Notified area is not a 6 ITA No(s). 55 to 60, 62 ,63,221 &222/SRT/2017 Municipal area or deemed municipal area, therefore, the receipt/ gain

SHRI PRAKASHBHAI CHHANABHAI AHIR,,SURAT vs. THE INCOME TAX OFFICER, WARD-4(1),, SURAT

In the result, the grounds of appeal raised by the assessee(s) are allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Virtual Court) िनधा"रणवष"/ S.N. आ.अ.सं./ अपीलाथ"/Appellant Vs ""थ"/Respondent Ay:

capital asset’ as defined under section 2(14)(iii)(a) of the Act. The land transferred by individual assessee(s) does not falls in the Municipal Area. Hazira Notified area is not a 6 ITA No(s). 55 to 60, 62 ,63,221 &222/SRT/2017 Municipal area or deemed municipal area, therefore, the receipt/ gain

HITESHBHAI CHHANABHAI AHIR,,SURAT vs. INCOME TAX OFFICER, WARD-2(1)(2),, SURAT

In the result, the grounds of appeal raised by the assessee(s) are allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Virtual Court) िनधा"रणवष"/ S.N. आ.अ.सं./ अपीलाथ"/Appellant Vs ""थ"/Respondent Ay:

capital asset’ as defined under section 2(14)(iii)(a) of the Act. The land transferred by individual assessee(s) does not falls in the Municipal Area. Hazira Notified area is not a 6 ITA No(s). 55 to 60, 62 ,63,221 &222/SRT/2017 Municipal area or deemed municipal area, therefore, the receipt/ gain

SHRI SHARADKUMAR KANTILAL KHALASI,SURAT vs. THE INCOME TAX OFFICER, WARD-2(1)(2),, SURAT

In the result, the grounds of appeal raised by the assessee(s) are allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Virtual Court) िनधा"रणवष"/ S.N. आ.अ.सं./ अपीलाथ"/Appellant Vs ""थ"/Respondent Ay:

capital asset’ as defined under section 2(14)(iii)(a) of the Act. The land transferred by individual assessee(s) does not falls in the Municipal Area. Hazira Notified area is not a 6 ITA No(s). 55 to 60, 62 ,63,221 &222/SRT/2017 Municipal area or deemed municipal area, therefore, the receipt/ gain

SHRI KANTIBHAI CHHAGANBHAI KHALASI,SURAT vs. THE INCOME TAX OFFICER, WARD-2(1)(2),, SURAT

In the result, the grounds of appeal raised by the assessee(s) are allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Virtual Court) िनधा"रणवष"/ S.N. आ.अ.सं./ अपीलाथ"/Appellant Vs ""थ"/Respondent Ay:

capital asset’ as defined under section 2(14)(iii)(a) of the Act. The land transferred by individual assessee(s) does not falls in the Municipal Area. Hazira Notified area is not a 6 ITA No(s). 55 to 60, 62 ,63,221 &222/SRT/2017 Municipal area or deemed municipal area, therefore, the receipt/ gain

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

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 आदेश / O R D E R PER BIJAYANANDA PRUSETH, AM: These two appeals by the revenue

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

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 आदेश / O R D E R PER BIJAYANANDA PRUSETH, AM: These two appeals by the revenue

RAMBILASH RAJARAM JAJOO,SURAT vs. INCOME TAX OFFICER WARD-2(2)(4), SURAT

Bench: Shri Pawan Singh & Shri Bijayananda Prusethआयकर अपील सं./Ita No. 552/Srt/2024 (Ay 2011-12) Rambilash Rajaram Jajoo (Physical Court Hearing) 429-432, Golden Point, Falsawadi, Ring Road, Surat City, Surat-395 002 [Pan : Aampj 0040 K] अपीलार्थी/Appellant Vs Income Tax Officer, Ward- 2(2)(4), Aaykar Bhawan, Majura Gate, Opp. New Civil Hospital, Surat-395 001 प्रत्यर्थी / Respondent आयकर अपील सं./Ita No. 882/Srt/2024 (Ay 2011-12) Sunita Jajoo 429-432, Golden Point, Near Bsnl Office, Falsawadi, Ring Road, Surat-395 002 [Pan: Aampj 0040 K] बनाम Vs Income Tax Officer, Ward- 2(2)(4), Aaykar Bhawan, Majura Gate, Opp. New Civil Hospital, Surat-395 001 अपीलार्थी/Appellant प्रत्यर्थी / Respondent निर्धारिती की ओर से /Assessee By Ms. Richa Toshniwal. Ca राजस्व की ओर से /Revenue By Shri Minal Kamble, Sr. Dr सुनवाई की तारीख/Date Of Hearing 23.01.2025 उद्घोषणा की तारीख/Date Of Pronouncement 10.02.2025 Order Under Section 254(1) Of Income Tax Act Per Pawan Singh: 1. These Two Appeals By Separate Assessee Are Directed Against The Separate Orders Of Addl/Jcit(A)-7, Kolkata/National Faceless Appeal Centre, Delhi [For Short To As "Nfac/Ld.Cit(A)] Dated 21.03.2024 & 21.04.2023 For Same

gain and also noticed that claimed exemption of Rs. 3,47,564/- in Schedule El as exempt income. 3. In view of the decision of the Hon'ble Gujarat High Court in the case of Aradhan Estate (P) Ltd. vs. Dy. Commissioner of Income-tax wherein it was held that report received from investigation wing has a live link

NEELU MAHANSARIA,SURAT vs. INCOME TAX OFFICER, WARD - 1(3)(3), SURAT

In the result, the addition of undisclosed income under section 68 is deleted

Bench: Shri Pawan Singhआ.अ.सं./Ita No.197/Srt/2023 (Ay 2011-12) (Hearing In Physical Court) Neelu Mahansaria Income Tax Officer, 304, Green Park Apartment, Ward-1(3)(3), Surat Vs City Light Road, Nr. Corner Point Complex, Surat-395007 Pan No: Adbpm 2707 Q अपीलाथ"/Appellant ""थ" /Respondent

capital gains earned by assessee is fully explained. The assessee has no nexus with the company directly or indirectly nor managing affairs with such company. The transactions were conducted through BSE and assessee claimed that her transactions were genuine. Merely because the probe was done by SEBI against the broker or against the company, the assessee cannot be claimed

MANOJJ GANESHLAL BHATIA, SURAT vs. ACIT, CIR 1(3), SURAT

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.494/Srt/2019 ("नधा"रणवष" / Assessment Years: (2015-16) (Virtual Court Hearing) Assistant Commissioner Of Manojj Ganeshlal Bhatia Income-Tax, Circle-1[3], Room B-703, Opera House Building, Vs. 3Rd No.301, Floor, Anavil Nr. Agarsen Bhavan, City Light Business Centre, Adajan-Hazira Road, Surat-395007 Road, Adajan, Surat-395007 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacpb 9748 E (अपीलाथ" /Assessee) (""थ" /Respondent) िनधा"रती की ओर से /Assessee By : Shri Mehul K.Patel, Advocate राज" की ओर से/Revenue By : Shri Ashok B. Koli, Cit-Dr सुनवाई क" तार"ख/ Date Of Hearing : 21/03/2023 घोषणा क" तार"ख/Date Of Pronouncement : 16/06/2023 आदेश / O R D E R Per Dr. A. L. Saini: Captioned Appeal Filed By The Revenue, Pertaining To Assessment Year (Ay) 2015-16, Is Directed Against The Order Passed By The Learned Commissioner Of Income-Tax (Appeals)-2, Surat [Ld. Cit(A) For Short] Dated 28.08.2019 Which In Turn Arises Out Of An Assessment Order Passed By Assessing Officer Under Section 143(3) Of The Income Tax Act, 1961 [Hereinafter Referred To As The “Act”] Dated 29.12.2017. 2. Grounds Of Appeal Raised By The Revenue Are As Follows: “1) Whether On The Facts & Circumstances Of The Case & In Law, The Ld. Cit(A) Is Justified In Deleting The Addition Of Rs.3,97,77,965/- Made On Account Of Profit From Future & Options Ignoring That Assessee Has Failed To Tender Evidence & Explanation In This Regard? 2) Whether On The Facts & Circumstances Of The Case & In Law, The Ld. Cit(A) Is Justified In Deleting The Addition Of Rs.5,60,54,528/- Made On Account Of Unexplained Increase In Capital Holding That The Capital Accumulation Is Fully Explained On The Basis Of Capital In The Itr Of A.Y 2011-12 & Accumulated Income In The Roi For A.Y 2012-13 To A.Y 2014-15 Ignoring That Assessee Has Shown Nil Capital Balance In Itr Filed For A.Y 2014-15?

section 143(3) of the Income Tax Act, 1961 [hereinafter referred to as the “Act”] dated 29.12.2017. 2. Grounds of appeal raised by the Revenue are as follows: “1) Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) is justified in deleting the addition of Rs.3,97,77,965/- made on account

SAMIR YOGENDRABHAI PARIKH,NA vs. ARIVS.THE PCIT, VALSAD, VALSAD

In the result, this appeal of assessee is allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Virtual Hearing) Samir Yogendrabhai Parikh. The Pr.Cit, Alka Society, Chhapara Road, Valsad. Vs. Dist.-Navsari-396445, Gujarat. Pan No. Abgpp 6727 N Appellant/ Assessee Respondent/ Revenue

221 ITR 155 @ 158-159 (Guj) (iv) Hari Iron Trading Co. Vs CIT (2003) 263 ITR 437 (P&H) (v) CIT Vs Gabriel India Ltd. (1993) 203 ITR 108 (Bom) (vi) CIT Vs Vikas Polymers 341 ITR 537 (Del) (vii)CIT Vs Honda Siel Power Products 333 ITR 547 @ 557-558 (Del) 7. The ld. Senior Counsel submits that

WIND FINANCIAL SERVICES LLP,DAMAN & DIU vs. PCIT, VALSAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pawan Singh & Shri Bijayananda Prusethआयकर अपील सं./Ita Nos.501 & 502/Srt/2024 (Ays: 2014-15 & 2015-16) (Hybrid Hearing) Wind Financial Services Llp, Vs. The Pcit, [Formerly Known Wind Financial Valsad Services Pvt. Ltd.] Shop No.102/A, 436 Sq Feet Built Up, Dabhel, Daman & Diu, Valsad – 396215 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aadfw6369H (Appellant) (Respondent) Appellant By Shri S. N. Divetia, Ar Respondent By Shri Ritesh Mishra, Cit-Dr Date Of Hearing 12/03/2025 Date Of Pronouncement 21/05/2025 आदेश / O R D E R Per Bijayananda Pruseth, Am: These Appeals By The Assessee Emanate From The Orders Passed Under Section 263 Of The Income-Tax Act, 1961 (In Short, ‘The Act’) By The Learned Principal Commissioner Of Income Tax, Valsad [In Short, ‘Ld. Pcit’], Dated 16.03.2024 For Assessment Years (Ays) 2014-15 & 2015-16. Since Facts Of The Cases & The Grounds Taken Up In The Appeals Are Similar Except Variation In The Amount, These Appeals Were Heard Together & A Common Order Is Passed For The Sake Of Convenience & Brevity. Ita No. 501/Srt/2024 Is Taken As The ‘Lead Case’.

gain or loss should not be considered in isolation but at a composite transaction since the assessee might have purchased and sold in cash segment or other F&O segments. The appellant had traded in 1,21,87,20,095 units resulting in total volume of Rs.22,385.04 Crore and the volume from few trades

WIND FINANCIAL SERVICES LLP,DAMAN & DIU vs. PCIT, VALSAD

In the result, the appeal of the assessee is allowed

Bench: Shri Pawan Singh & Shri Bijayananda Prusethआयकर अपील सं./Ita Nos.501 & 502/Srt/2024 (Ays: 2014-15 & 2015-16) (Hybrid Hearing) Wind Financial Services Llp, Vs. The Pcit, [Formerly Known Wind Financial Valsad Services Pvt. Ltd.] Shop No.102/A, 436 Sq Feet Built Up, Dabhel, Daman & Diu, Valsad – 396215 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aadfw6369H (Appellant) (Respondent) Appellant By Shri S. N. Divetia, Ar Respondent By Shri Ritesh Mishra, Cit-Dr Date Of Hearing 12/03/2025 Date Of Pronouncement 21/05/2025 आदेश / O R D E R Per Bijayananda Pruseth, Am: These Appeals By The Assessee Emanate From The Orders Passed Under Section 263 Of The Income-Tax Act, 1961 (In Short, ‘The Act’) By The Learned Principal Commissioner Of Income Tax, Valsad [In Short, ‘Ld. Pcit’], Dated 16.03.2024 For Assessment Years (Ays) 2014-15 & 2015-16. Since Facts Of The Cases & The Grounds Taken Up In The Appeals Are Similar Except Variation In The Amount, These Appeals Were Heard Together & A Common Order Is Passed For The Sake Of Convenience & Brevity. Ita No. 501/Srt/2024 Is Taken As The ‘Lead Case’.

gain or loss should not be considered in isolation but at a composite transaction since the assessee might have purchased and sold in cash segment or other F&O segments. The appellant had traded in 1,21,87,20,095 units resulting in total volume of Rs.22,385.04 Crore and the volume from few trades