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

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

In the result, assessee's appeal is allowed

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

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 gain. Against the sale transaction the assessee was required to invest for purchase of residential unit before one year or after two years from the date of sale of property i.e. 26.09.2012. The assessee has rightly claimed deduction u/s 54 as he has received sale consideration of the flat as under and invested accordingly. Flat Nop.601 Date of receipt

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

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

DCIT, VAPI CIRCLE, VAPI vs. M/S. QUANT CAPITAL PVT. LTD., MUMBAI

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Physical Hearing) D.C.I.T., M/S Qcap Securities Pvt. Ltd., Vapi Circle, 612-617, Maker Chamber Iv, Vs. Vapi. Nariman Point, Mumbai-400021. New Address; 6Th Floor, Sea Breeze Building, Appasaheb Marrathe Marg, Prabha Devi,Mumbai-25 Pan No. Aaacq 3142 J Appellant/ Assessee Respondent/ Revenue D.C.I.T., M/S Quant Capital Private Limited Vapi Circle, 612-617, Makers Chambers Iv, Vs. Vapi. Nariman Point, Mumbai-21 New Address; 6Th Floor, Sea Breeze Building, Appasaheb Marrathe Marg, Prabha Devi,Mumbai-25 Pan No. Aaacq 3159 M Appellant/ Assessee Respondent/ Revenue

90,000 1,99,00,000 Preference Shares Capital: 1. Quant Capital 612-617, Maker 25,000,000 25,00,00,000 Holdings Private Chamber IV, Nariman Limited Point, Mumbai Total share capital received during the year 26,99,00,000 Adhoc addition made by AO 4,53,66,799 4. The assessee further stated that all transactions pertain

DCIT, VAPI CIRCLE , VAPI vs. M/S. QCAP SECURITIES PVT. LTD., MUMBAI

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Physical Hearing) D.C.I.T., M/S Qcap Securities Pvt. Ltd., Vapi Circle, 612-617, Maker Chamber Iv, Vs. Vapi. Nariman Point, Mumbai-400021. New Address; 6Th Floor, Sea Breeze Building, Appasaheb Marrathe Marg, Prabha Devi,Mumbai-25 Pan No. Aaacq 3142 J Appellant/ Assessee Respondent/ Revenue D.C.I.T., M/S Quant Capital Private Limited Vapi Circle, 612-617, Makers Chambers Iv, Vs. Vapi. Nariman Point, Mumbai-21 New Address; 6Th Floor, Sea Breeze Building, Appasaheb Marrathe Marg, Prabha Devi,Mumbai-25 Pan No. Aaacq 3159 M Appellant/ Assessee Respondent/ Revenue

90,000 1,99,00,000 Preference Shares Capital: 1. Quant Capital 612-617, Maker 25,000,000 25,00,00,000 Holdings Private Chamber IV, Nariman Limited Point, Mumbai Total share capital received during the year 26,99,00,000 Adhoc addition made by AO 4,53,66,799 4. The assessee further stated that all transactions pertain

HARIVADANBHAI MAGANLAL PATEL,SURAT vs. INCOME TAX OFFICER, WARD 1(3)(7), SURAT

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

Bench: SHRI PAWAN SINGH (Judicial Member), DR. A. L. SAINI (Accountant Member)

section 50C of the Act, 1961. The disallowance of 50C of the Act is held to be justified and the addition of Rs. 1,17,90,250/- on account of Long Term Capital Gain

MANJULABEN BABUBHAI THUMAR,SURAT vs. THE INCOME TAX OFFICER, WARD-1(2)(6),, SURAT

In the result, the appeal of the assessee is treated as allowed for statistical purposes

Bench: Shri Sandeep Gosain & Shri O.P.Meenaआ.अ.सं./I.T.A No.2997/Ahd/2016 िनधा"रणवष"/Assessment Year: 2013-14 Manjulaben Babubhai Thumar, V. Income Tax Officer, Flat No.195, 01St Floor, Road No.6F, Ward-1(2)(6), Surat. Udyognagar, Udhna, Surat-394 210. [Pan: Aajpt 4629 F] अपीलाथ" / Appellant ""थ"/Respondent

Section 50C of the Act. The assessee has failed Manjulaben Babubhai Thumar v. ITO, Ward-1(2)(6),Surat/ITA. 2997/AHD/2016/A.Y.2013-14 Page 3 of 5 to revise return of income as per decision of Hon’ble Supreme Court in the case of Goetze (India) Ltd. vs. CIT 284 ITR 323. Therefore, the AO computed the net long term capital gain

SHOBHANA DINESH TRIVEDI,VALSAD vs. ACIT, VAPI CIRCLE, VAPI

In the result, the appeal filed by the Assessee is allowed for statistical purpose

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Bijayananda Pruseth (Accountant Member)

Capital Gain taking into consideration of the total receipt at Rs.1,07,90,553/- and finally arrived at net LTCG of Rs.47,86,787/- after claiming deduction u/s. 54 of the Act. 3. The assessee’s contention was that the sale consideration adopted on receipt basis and not as per agreement. However the A.O. was of the view that

NANUBHAI PREMJIBHAI BAMBHAROLIA,VAPI vs. DCIT, VAPI

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Prusethआयकर अपील सं./Ita No.866/Srt/2024 Assessment Year: (2011-12) (Hybrid Hearing) Nanubhai Premjibhai Assistant Commissioner Of Income- बनाम/ Bambharolia Tax, Circle-Vapi, 7Th Floor, Room Vs. Plot No/.147/148, H-1, No.704, Daman Road, Chala, Vapi- Kalpdeep Chharwada Road, 396 191 Gidc, Vapi-396 195 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Abopb 8282 A (अपीलाथ"/Appellant) (""थ" /Respondent) िनधा"रती की ओर से /Appellant By Shri A. Gopalakrishnan Aiyar, Ca राज" की ओर से/Respondent By Shri Ajay Uke, Sr-Dr सुनवाई की तारीख /Date Of Hearing 31/07/2025 उद्घोषणा की तारीख /Date Of Pronouncement 28/10/2025

90,840/-. In the return of income filed for the AY 2011-12, the assessee declared value of the said land at Rs.1,00,00,000/- while computing the capital gain arising from this transaction. As per provisions of Section

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, SURAT, SURAT vs. JAYANTIBHAI VIRJIBHAI BABARIYA, SURAT

In the result, the appeal of the Revenue is dismissed

Bench: Shri Pawan Singh, Jm & Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.297/Srt/2023 (िनधा"रणवष" / Assessment Year: (2018-19) (Virtual Court Hearing) Assistant Commissioner Of Shri Jayantibhai Virjibhai Babariya, Income-Tax, Circle-2, Surat, Vs. K-801, River View Heights, Room No.503, 5Th Floor, Aayakar Pedar Road, Mota Varachha, Bhawan, Majura Gate, Surat- Surat-394101 395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Afhpb 0820 M (अपीलाथ" /Appellant) (""थ"/Respondent)

section 2(47) of the Act defines ‘transfer’ in relation to a capital asset, which includes: sale, exchange, relinquishment, extinguishment, compulsory acquisition etc. In assessee`s case, the assessee is owner of the asset in the assessment year 2017-18, he did not sale his asset (land), hence, the Revenue does not have authority to collect the capital gain

SHRI VIKRAMSINH THAKORBHAI RAVAT,VALSAD vs. ACIT VALSAD CIRCLE, VALSAD

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

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Prusethआयकर अपील सं./Ita No.206/Srt/2025 Assessment Year: 2011-12 (Hybrid Hearing) Shri Vikramsinh Thakorbhai Assistant Commissioner Of बनाम/ Ravat Income-Tax, Circle-Valsad, 208 Vs. 117/Ravat Falia/ Bhutsar/ Palak Arcade, Shantinagar, Tithal Taluka/ Dist. Valsad-396 005 Road, Valsad-396 001 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Alcpr 4584 K (अपीलाथ"/Appellant) (""थ" /Respondent) "नधा"रती क" ओर से /Appellant By Shri Rajesh Upadhyay, Ar राज"व क" ओर से /Respondent By Shri Ajay Uke, Sr-Dr सुनवाई क" तार"ख/Date Of Hearing 22/07/2025 उ"घोषणा क" तार"ख/Date Of Pronouncement 26/09/2025

section 250 of the Income-tax Act, 1961 (in short, 'the Act’) dated 12.02.2024 by the Commissioner of Income-tax Appeal, Addl/JCIT(A)-2 Coimbatore [in short, the ‘CIT(A)’] for the assessment year (AY) 2011-12, which in turn arises out of assessment order passed by the Assessing Officer (in short, ‘AO’) u/s 143(3) r.w.s

KHILAN N. PATEL (HUF),SURAT vs. THE DCIT, CIRCLE-2(3), SURAT

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

Bench: Shri Pawan Singh & Shri Bijayananda Prusethआयकर अपील सं./Ita No.429/Srt/2024 Assessment Year: (2016-17) (Hybrid Hearing) Khilan N. Patel (Huf), Vs. The Dcit, 6/2201, Nagarsheri, Mahidharpura, Circle – 2(3), Surat – 395003 (Gujarat) Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aakhk6987L (Appellant) (Respondent) Appellant By Shri Akshay M. Modi, Ca Respondent By Shri Mukesh Jain, Sr. Dr Date Of Hearing 27/01/2025 Date Of Pronouncement 29/01/2025

section 250 of the Income-tax Act, 1961 (in short, ‘the Act’) dated 12.02.2024 by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi [in short, ‘CIT(A)’] for the assessment year (AY) 2016-17. 2. The grounds of appeal raised by the assessee are as under: “1. On the facts and in the circumstances of the case

ITO, WARD-3(3)(1), SURAT vs. SHRI ARVINDBHAI RATANBHAI MOKANI, SURAT

In the result, this appeal of the revenue is dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Physical Hearing) I.T.O., Arvindbhai Ratanbhai Mokani, Ward-3(3)(1), D-260-261, Vittal Nagar Society, Vs. Surat. Varachha Road, Hira Baug, Surat-395006. Pan No. Ahfpm 2302 K Appellant/ Assessee Respondent/ Revenue

capital gain was not reflected in the return of income, thus the Assessing Officer made addition on account of entire sale proceed of Rs. 1.50 crores without granting deduction of indexed cost of the property. The assessee explained that he alongwith five other persons purchased non-agricultural land at village Gavier, thus having 1/6th share in the said land

CHETANBHAI PRAHLADBHAI GAMI,SURAT vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, SURAT

In the result, appeal of the assessee is allowed

Bench: Shripawan Singh, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.228/Srt/2023 ("नधा"रणवष" / Assessment Year: (2018-19) (Virtual Court Hearing) Chetanbhaiprahladbhaigami Principalcommissioner Of Income Tax-1,Surat, 1, 123, 1St Floor, Aaykar 39, China Gate-1, Near Spring Vs. Valley, Althan, Surat-395017 Bhavan, Majura Gate, Surat-395002 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Abepp6880C अपीलाथ"/Appellant ""थ"/Respondent

Capital Gain 3,16,46,960/- ITA No.228/SRT/2023 AY.18-19 Chetanbhai P Gami 5. In the calculation of LTCG, the assessee has claimed cost of acquisition at Rs.84,11,040/-. However, on verification of the records the cost of acquisition is recalculated at Rs.36,20,866/- as under: Sr.No. Particulars Amount (Rs) 1 Cost of acquisition (F.Y 2007-08) 2 Consideration