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

capital gains computed under section 50, despite the fact that the deeming fiction under section 50 is limited only to the mode of computation under sections 48 and 49

SMT. NAYANABEN F. PATEL,SURAT vs. PR. COMMISSIONER OF INCOME TAX, SURAT-1, SURAT

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

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Physical Court) Smt. Nayanaben F. Patel, Pr.C.I.T. 1, Indraprashtha Society, Surat-1, Vs. Nr. Puna Patiya, Magob, Surat. Surat-395010. Pan: Bhrpp 4706 K Appellant Respondednt

Section 143(3) of the Act. The Assessing Officer while passing the assessment order, recorded that the assessee sold agricultural land at Revenue Survey No. 21/1, Block No. 49, Village- Saroli, Taluka, Choryasi, District -Surat for sale consideration of Rs. 4.51 crores on 12/10/2015. On verification of capital gain

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

Section 49 of the Act and it cannot be said that the assessee and the Donors were making such plans for the last 7 years to rig the stock price to generate bogus capital gains

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

Section 49 of the Act and it cannot be said that the assessee and the Donors were making such plans for the last 7 years to rig the stock price to generate bogus capital gains

THE ITO, WARD-3(2)(3),, SURAT vs. SHRI RAMESHBHAI VALLABHBHAI GAJERA,, SURAT

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.1522/Ahd/2017 Assessment Year: (2012-13) (Physical Court Hearing) The Ito, Ward-3(2)(3), Vs. Rameshbhai Vallabhbhai Gajera, Surat. 153, Vaikunthdham Society, Laxmikant Ashram Road, Katargam, Surat. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Abapg3846B (Appellant)/(Revenue) (Respondent)/(Assessee) Assessee By Shri Rasesh Shah, Ca Respondent By Shri Ashok B. Koli, Cit(Dr) Date Of Hearing 05/01/2023 Date Of Pronouncement 24/01/2023

section 142(1) of the I.T. Act was issued on 26.12.2013 and 04.12.2014 for calling various details. The assessing officer observed that in the ITA No.1522/SRT/2017/AY.2012-13 Rameshbhai Vallabhbhai Gajera computation of the total income the assessee has shown to have sold land at sales consideration of Rs.65,97,700/-. The assessee has shown to have purchased part of land

PANKAJBHAI HATHIBHAI PATEL,AHMEDABAD vs. INCOME TAX OFFICER, WARD-6(3), , SURAT

Bench: Shri Pawan Singh, Jm &Dr. A.L.Saini, Am आयकरअपील सं./Ita No.589/Srt/2019 (िनधा"रण वष" / Assessment Year: (2011-12) (Physical Court Hearing) Pankajbhai Hathibhai Patel Income Tax Officer, 112, Sangath Mall 1, Ward-6(3), Surat Vs. Opp. Govt. Engineering College, Motera, Ahmedabad-380005 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aazpp 0099 B (अपीलाथ" /Appellant ) (""थ" /Respondent)

capital gain by invoking section 50C. This issue already has been decided by me in appeal no. CIT(A)Surat-3/10342/16-17 dated 13.09.2017 as in case of Rameshkumar M. Gajeera under: “In original computation, the appellant had claimed deduction u/s 54F to the extent of Rs.31.11 lakhs and the same has been allowed by the ld Assessing Officer

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

49,215/-. The assessment Vijay Champak Patel Assessment Year: 2011-12 proceedings under provisions of section 143(3) of the Income Tax Act, 1961 was completed on 07/03/2014 and the total income of the assessee for the period under consideration was assessed to be Rs.1,55,53,210/-. The assessee claimed deductions under section 54EC of the Act and under

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

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

capital gain was in fact taxable as ‘income from other sources’ and, accordingly, paid differential tax on said amount before issuance of notice under section 148, said conduct of assessee being bona fide in nature, impugned penalty order passed under section 271(1)(c) on account of concealment of particulars of income was to be set aside. 12. The ratio

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 gains. Since the assessee has not complied with the above mandatory provisions of the section, the assessee is not entitled to the exemption. Thus, assessing officer held that as the assessee has not been able to get the land registered till date therefore the amount of deduction of Rs.4,04,08,003/- claimed u/s 54B of the Income

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

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

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

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

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

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

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

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

capital nature….” 5.5 In view of the above factual positions and the authoritative precedents cited supra, we are of the considered view that the AO was not correct in adding the notional exchange gain on foreign currency loan on the balance sheet date as income of the assessee. We find no infirmity in the order of CIT(A) in deleting

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

capital nature….” 5.5 In view of the above factual positions and the authoritative precedents cited supra, we are of the considered view that the AO was not correct in adding the notional exchange gain on foreign currency loan on the balance sheet date as income of the assessee. We find no infirmity in the order of CIT(A) in deleting

SHRI SUNNY CHADRAKANT FUDHANAWALA,,SURAT vs. THE DY. COMMISSIONER INCOME TAX OFFICER, CIR3(3), SURAT

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपीलसं./Ita No.271/Srt/2019 ("नधा"रण वष" / Assessment Year: (2014-15) (Virtual Court Hearing) Shri Sunny Chandrakant Deputy Commissioner Of Fudhnawala, 47, Matawadi, Income Tax, Circle-3(3), Vs. Nr. Bhavani Mata Mandir, Aaykar Bhavan, Majura Gate Lambe Hanuman Road, Nr. New Civil Hospital Road, Surat-395006 Surat-395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aahpf 6359 G (Appellant) (Respondent) "नधा"रती क" ओर से /Assessee By : Shri Manish J Shah, Advocate राज"व क" ओर से /Respondent By : Shri Ashok B. Koli, Cit-D.R

49,550/- and after claiming exemption u/s 54F to the extent of Rs.1,20,08,843/-, the assessee offered long term capital gains of Rs.49,40,736/- in his return of income filed for the year under consideration. The Ld. counsel stated that Ld.PCIT noted that assessee has more than two residential properties and during the year assessee has claimed

PISTABEN RAJMAL JAIN,SURAT vs. DCIT, CIRCLE 1(3), SURAT

In the result, both the appeals filed by the assessee are dismissed

Bench: Dr. Brr Kumar, Hon’Ble & Ms. Suchitra Kambleita Nos. 635 & 703/Srt/2025 A. Y. 2013-14 & 2014-15

49,075/-u/s. 68 being LTCG on sale of shares of Indian Infotech and Software Ltd considering it as accommodation entry without taking into account various documentary evidences and explanations submitted during the course of the reassessment. 4. On the facts and circumstances of the case as well as law on the subject, the learned assessing officer has erred

PISTABEN RAJMAL JAIN,SURAT vs. DCIT, CIRCLE 1(3), SURAT

In the result, both the appeals filed by the assessee are dismissed

Bench: Dr. Brr Kumar, Hon’Ble & Ms. Suchitra Kambleita Nos. 635 & 703/Srt/2025 A. Y. 2013-14 & 2014-15

49,075/-u/s. 68 being LTCG on sale of shares of Indian Infotech and Software Ltd considering it as accommodation entry without taking into account various documentary evidences and explanations submitted during the course of the reassessment. 4. On the facts and circumstances of the case as well as law on the subject, the learned assessing officer has erred