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:

35,00,000/- on account of deduction claimed u/s. 54F. 5. It is therefore prayed that the above addition/disallowance made by the assessing officer and confirmed by CIT (Appeals) may please be deleted. 6. Appellant craves leave to add, alter or delete any ground(s) either before or in the course of hearing of the appeal.” 2. Brief facts

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 arising from sale of shares. The assessee during the relevant period had sold shares of M/s. Sunrise Asian Ltd. for a consideration of Rs.14,99,917/-. The authorities below held the sale transaction in aforementioned scripts as bogus and thus, made addition under section 68 of the Act. We find that similar disallowance was made in the case

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

capital gains exempt u/s 10(38) of the Act. Hence, the addition made by the AO on account of sale of share of Rs.9,44,74,391 u/s 68 of the Act was deleted. He also deleted the addition u/s 69C of the Act Rs.64,78,080/- in respect of unexplained commission paid on account of above LTCG

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

capital gains exempt u/s 10(38) of the Act. Hence, the addition made by the AO on account of sale of share of Rs.9,44,74,391 u/s 68 of the Act was deleted. He also deleted the addition u/s 69C of the Act Rs.64,78,080/- in respect of unexplained commission paid on account of above LTCG

KIRANKUMAR RAMANLAL NAIK,SURAT vs. INCOME TAX OFFICER, WARD 2(3)(2), SURAT

In the result, the appeal of the assessee is allowed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.18/Srt/2023 "नधा"रण वष"/Assessment Year: (2012-13) (Virtual Hearing) Kirankumar Ramanlal Naik, Vs. Income Tax Officer, 415, Dabhi Street, Near Zanda Chowk, Ward-2(3)(2), Room No.615, 6Th Floor, Aayakar Bhavan, Mota Varachha, Surat – 395006. Majura Gate, Surat-395001 (""थ" /Respondent) (अपीलाथ" /Appellant) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Akcpn2062P िनधा"रती की ओर से /Appellant By Shri Rushin Patel, Ar राज"व क" ओर से /Respondent By Shri Vinod Kumar, Sr. Dr सुनवाई की तारीख/Date Of Hearing 11/04/2023 घोषणा की तारीख/Date Of Pronouncement 18/04/2023

35 and section 37 of the Wealth-tax Act, 1957 (27 of 1957), shall with the necessary modifications, apply in relation to such reference as they apply in relation to a reference made by the Assessing Officer under sub-section (1) of section 16A of that Act. Explanation.—In this section, "Valuation Officer" has the same meaning, as in clause

SHRI VIJAY CHAMPAK PATEL,SURAT vs. THE INCOME TAX OFFICER, WARD-6(4), SURAT

In the result, appeal filed by the assessee is allowed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No.281/Ahd/2016 ("नधा"रणवष" / Assessment Year: 2011-12) Vijay Champak Patel, Vs. Income Tax Officer, Pachhlu Faliyu, Near Water Ward-6(4), Surat Tank, Bharthana, Vesu, Surat

capital Gain (LTCG) in the subsequent year`s Return of Income filed for A.Y. 2013-14 as per the provision of section 54F(4) of the Act. Hence, ld. Counsel submits before us that there is no mala fide intention on the part of the assessee to defraud the revenue and hence no adverse inference could be drawn that

RAJENDRAPRASAD BABULAL KHETAN,SURAT vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIR. - 4, SURAT

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.142/Srt/2023 (Assessment Year: 2017-18) (Physical Hearing) Rajendraprasad Babulal Khetan, Vs. The Acit, E-2-1101, Capital Greens, Vesu Central Circle-4, – Bharthana, Surat – 395007. Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Abqpk8161R (Appellant) (Respondent) आयकर अपील (खोज और ज"ती) सं./It(Ss)A Nos.32/Srt/2023 (Assessment Year: 2017-18) Rajendraprasad Babulal Khetan, Vs. The Acit, E-2-1101, Capital Greens, Vesu Central Circle-4, – Bharthana, Surat – 395007. Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Abqpk8161R (Appellant) (Respondent)

Capital Gain added by the AO, confirmed by ld.CIT(A) is deleted. In the result the grounds of appeal raised by the assessee are allowed.” 28. From the above judgment of the Coordinate Bench in the case of Late Shri Mohanlal Ambelal Desai (supra), it is vivid that being co-owner, the assessee is also entitled for similar treatment

SUNITA JAJOO,SURAT vs. ITO WARD 2(2)(4), SURAT

In the result, assessee’s appeal is allowed

Bench: Shri Pawan Singh & Shri Bijayananda Prusethआयकर अपील सं./Ita No. 552/Srt/2024 (Ay 2011-12) (Physical Court Hearing) Rambilash Rajaram Jajoo Income Tax Officer, Ward- 429-432, Golden Point, Falsawadi, 2(2)(4), Aaykar Bhawan, Majura बनाम Ring Road, Surat City, Gate, Opp. New Civil Hospital, Vs Surat-395 002 Surat-395 001 [Pan : Aampj 0040 K] अपीलाथ"/Appellant ""थ" /Respondent

gains the assessee has reaped was not tainted. This has not been proved or established by any of the assessee before us. Therefore, the assessing officers were well justified in coming to a conclusion that the so called explanation offered by the assessee was not to their satisfaction. Thus, the assessee having not proved the genuineness of the claim

SHRI SATYADEV NAGINBHAI PATEL,SURAT vs. INCOME TAX OFFICER WARD-2(3)(6), SURAT

In the result, the appeal of the all five assessee are allowed

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.12 To 15 & 260/Srt/2017 िनधा"रण वष"/Assessment Year:2014-15 1. Shri Tejas Dineshbhai Patel, 2. Income Tax X, Moti Fali, Pal Gam Surat Officer, Ward- Pan:Bgdpp 4514 L 2(3)(6) Surat 2. Smt. Urmilaben Naginbhai 2. Income Tax Patel, Officer, Ward- 156, Moti Falia, Pal Gam Surat 2(3)(6) Surat Pan:Bexpp 8659E 3. Shri Harishkumar Naginbhai 3. Income Tax Patel, Officer, Ward- Moti Falia, Pal Gam Surat 2(3)(6) Surat Pan: Bdapp 4551 R 4. Shri Satyadev Naginbhai, 4. Income Tax Patel,156 Moti Falia, Pal Gam Officer, Ward- Surat 2(3)(6) Surat Pan:Acvpp 3650Q 5. Smt. Jyotiben Vinodbhai 5. Income Tax Patel, Officer, Ward- X Moti Fali, Pal Gam, Surat 2(3)(6) Surat Pan: Bgdpp4516 J अपीलाथ" Appellant ""यथ"/Respondent

section 143 (3) all dated 22.12.2016 of Income Tax Act, 1961 (in short ‘the Act’) by the Income Tax Officer, Ward- 2(3)(6) Surat(in short “the AO”). 2. The above appeals belonging to Patel Group, of joint holder of property sold during year were heard together being common issue involved being considered together. 3. We are taking

SMT.URMILABEN NAGINBHAI PATEL,SURAT vs. INCOME TAX OFFICER WARD-2(3)(6), SURAT

In the result, the appeal of the all five assessee are allowed

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.12 To 15 & 260/Srt/2017 िनधा"रण वष"/Assessment Year:2014-15 1. Shri Tejas Dineshbhai Patel, 2. Income Tax X, Moti Fali, Pal Gam Surat Officer, Ward- Pan:Bgdpp 4514 L 2(3)(6) Surat 2. Smt. Urmilaben Naginbhai 2. Income Tax Patel, Officer, Ward- 156, Moti Falia, Pal Gam Surat 2(3)(6) Surat Pan:Bexpp 8659E 3. Shri Harishkumar Naginbhai 3. Income Tax Patel, Officer, Ward- Moti Falia, Pal Gam Surat 2(3)(6) Surat Pan: Bdapp 4551 R 4. Shri Satyadev Naginbhai, 4. Income Tax Patel,156 Moti Falia, Pal Gam Officer, Ward- Surat 2(3)(6) Surat Pan:Acvpp 3650Q 5. Smt. Jyotiben Vinodbhai 5. Income Tax Patel, Officer, Ward- X Moti Fali, Pal Gam, Surat 2(3)(6) Surat Pan: Bgdpp4516 J अपीलाथ" Appellant ""यथ"/Respondent

section 143 (3) all dated 22.12.2016 of Income Tax Act, 1961 (in short ‘the Act’) by the Income Tax Officer, Ward- 2(3)(6) Surat(in short “the AO”). 2. The above appeals belonging to Patel Group, of joint holder of property sold during year were heard together being common issue involved being considered together. 3. We are taking

SHRI TEJASH VINODBHAI PATEL,SURAT vs. INCOME TAX OFFICER WARD 2(3)(6), SURAT

In the result, the appeal of the all five assessee are allowed

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.12 To 15 & 260/Srt/2017 िनधा"रण वष"/Assessment Year:2014-15 1. Shri Tejas Dineshbhai Patel, 2. Income Tax X, Moti Fali, Pal Gam Surat Officer, Ward- Pan:Bgdpp 4514 L 2(3)(6) Surat 2. Smt. Urmilaben Naginbhai 2. Income Tax Patel, Officer, Ward- 156, Moti Falia, Pal Gam Surat 2(3)(6) Surat Pan:Bexpp 8659E 3. Shri Harishkumar Naginbhai 3. Income Tax Patel, Officer, Ward- Moti Falia, Pal Gam Surat 2(3)(6) Surat Pan: Bdapp 4551 R 4. Shri Satyadev Naginbhai, 4. Income Tax Patel,156 Moti Falia, Pal Gam Officer, Ward- Surat 2(3)(6) Surat Pan:Acvpp 3650Q 5. Smt. Jyotiben Vinodbhai 5. Income Tax Patel, Officer, Ward- X Moti Fali, Pal Gam, Surat 2(3)(6) Surat Pan: Bgdpp4516 J अपीलाथ" Appellant ""यथ"/Respondent

section 143 (3) all dated 22.12.2016 of Income Tax Act, 1961 (in short ‘the Act’) by the Income Tax Officer, Ward- 2(3)(6) Surat(in short “the AO”). 2. The above appeals belonging to Patel Group, of joint holder of property sold during year were heard together being common issue involved being considered together. 3. We are taking

SMT. JYOTIBEN VINODBHAI PATEL,SURAT vs. INCOME TAX OFFICER, WARD 2(3)(6), SURAT

In the result, the appeal of the all five assessee are allowed

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.12 To 15 & 260/Srt/2017 िनधा"रण वष"/Assessment Year:2014-15 1. Shri Tejas Dineshbhai Patel, 2. Income Tax X, Moti Fali, Pal Gam Surat Officer, Ward- Pan:Bgdpp 4514 L 2(3)(6) Surat 2. Smt. Urmilaben Naginbhai 2. Income Tax Patel, Officer, Ward- 156, Moti Falia, Pal Gam Surat 2(3)(6) Surat Pan:Bexpp 8659E 3. Shri Harishkumar Naginbhai 3. Income Tax Patel, Officer, Ward- Moti Falia, Pal Gam Surat 2(3)(6) Surat Pan: Bdapp 4551 R 4. Shri Satyadev Naginbhai, 4. Income Tax Patel,156 Moti Falia, Pal Gam Officer, Ward- Surat 2(3)(6) Surat Pan:Acvpp 3650Q 5. Smt. Jyotiben Vinodbhai 5. Income Tax Patel, Officer, Ward- X Moti Fali, Pal Gam, Surat 2(3)(6) Surat Pan: Bgdpp4516 J अपीलाथ" Appellant ""यथ"/Respondent

section 143 (3) all dated 22.12.2016 of Income Tax Act, 1961 (in short ‘the Act’) by the Income Tax Officer, Ward- 2(3)(6) Surat(in short “the AO”). 2. The above appeals belonging to Patel Group, of joint holder of property sold during year were heard together being common issue involved being considered together. 3. We are taking

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

In the result, assessee's appeal is allowed

35,316.99\n2.\nThe information revealed that during the year he had sold 5000 share of Rs.3,85,006/- in\nscript name Global Cap M and code No. 530263 during the F.Y. 2010-11 relevant to A.Y.2011-12. On\nreceipt of information, notice u/s 133(6) was issued to the assessee asking him to furnish the\ndetails of capital gain

SUDHIR BHUPENDRA DESAI,SURAT vs. INCOME TAX OFFICER, (INT. TAX), SURAT

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

Bench: Shri Pawan Singhआ.अ.सं./Ita No.92/Srt/2023 (Ay 2012-13) (Hearing In Physical Court) Sudhir Bhupendra Desai Income Tax Officer, (Int. Tax), 106, ‘Shriyam’, Nehru Nagar, Room No.107, 1St Floor, Vs Ichhanath, Svr College, S.O., Income-Tax Office, Surat Surat-395007 Anavil Business Centre, Pan No: Axdpd 7887 Q Adajan Hazira Road, Adajan, Surat-395007 अपीलाथ"/Appellant ""थ" /Respondent

section 271(1)(c) of the Act of Rs.3,35,137/-. The Ld. CIT(A) also confirmed the penalty by following the decisions of Zoom Communication (supra). Before me, Ld. AR for the assessee vehemently relied on various case law submitted that assessee on coming to know about taxable of capital gains

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 from sale of flat No.601 and flat No.701 of Sahas Building, Mumbai on 28/09/2012, that, against the sale value of the original asset at Rs.1,27,56,000/- the assessee had claimed indexed cost of acquisition at Rs.6,38,002/-, indexed cost of improvement at Rs.39,24,676/-, LTCG exempt u/s 54 of Rs.54,35

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

35(1)(iv) – Rs.32,50,000/- and (v) addition on account of USFDA consumption – Rs.2,08,99,216/-. 4. Aggrieved by the assessment order, appellant preferred appeal before CIT(A). The CIT(A) upheld addition in respect of ground Nos.1, 2 and 4. He has allowed ground Nos.3 and 5, being foreign exchange gain of Rs.4

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

35(1)(iv) – Rs.32,50,000/- and (v) addition on account of USFDA consumption – Rs.2,08,99,216/-. 4. Aggrieved by the assessment order, appellant preferred appeal before CIT(A). The CIT(A) upheld addition in respect of ground Nos.1, 2 and 4. He has allowed ground Nos.3 and 5, being foreign exchange gain of Rs.4

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

gain from sale of shares to the book profits u/s 115JB of the Act, and accordingly this grounds of appeal is decided against the assessee. This ground of appeal of the assessee is therefore dismissed. 12. Ground No.4: States that on appreciation of the facts and circumstances of the case and law, the learned Commissioner of Income-tax (Appeals