RAVI MAHEXA,DAMAN AND DIU vs. INCOME TAX OFFICER, WARD 5, , VAPI

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.193 To 195/Srt/2022 Assessment Years: (2015-16 To 2017-18) (Physical Hearing) Ravi Mahexa, Vs. Income Tax Officer, Ward-5, 7Th 14/55, Dilipnagar Near Dilip Nagar Vapi, Fortune Square, Floor, 8Th Floor & 9Th Floor, Ii, Ground, Daman, Daman – 396210, Daman & Diu (Ut) Chala Road, Vapi-396191 Ravi Mahexa Income Tax Officer, Daman 14/55, Dilipnagar Near Dilip Nagar Ward, Daman Jevanji Ground, Daman, Daman & Diu (Ut) - Apartment, Kavi Khabardar 396210 Road, Daman-396210 Vapi "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Apkpm1888H (Assessee) (Respondent) Assessee By Shri P. M. Jagasheth, Ca Respondent By Shri Minal Kamble, Sr. Dr Date Of Hearing 19/07/2023 Date Of Pronouncement 31/07/2023

vii) Part of the specified bank notes (Cessation of Liabilities) Bill, 2017 (vide Pb.12 to 14) 10. The ld Counsel, thus stated that provisions of section 69A of the Act are not applicable on deposits made post-demonetization since currency`s value guaranteed till December 31, 2016. For that ld Counsel relied on the Judgment of Coordinate Bench of ITAT

RAVI MAHEXA,DAMAN AND DIU vs. INCOME TAX OFFICER, DAMAN WARD, DAMAN

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.193 To 195/Srt/2022 Assessment Years: (2015-16 To 2017-18) (Physical Hearing) Ravi Mahexa, Vs. Income Tax Officer, Ward-5, 7Th 14/55, Dilipnagar Near Dilip Nagar Vapi, Fortune Square, Floor, 8Th Floor & 9Th Floor, Ii, Ground, Daman, Daman – 396210, Daman & Diu (Ut) Chala Road, Vapi-396191 Ravi Mahexa Income Tax Officer, Daman 14/55, Dilipnagar Near Dilip Nagar Ward, Daman Jevanji Ground, Daman, Daman & Diu (Ut) - Apartment, Kavi Khabardar 396210 Road, Daman-396210 Vapi "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Apkpm1888H (Assessee) (Respondent) Assessee By Shri P. M. Jagasheth, Ca Respondent By Shri Minal Kamble, Sr. Dr Date Of Hearing 19/07/2023 Date Of Pronouncement 31/07/2023

vii) Part of the specified bank notes (Cessation of Liabilities) Bill, 2017 (vide Pb.12 to 14) 10. The ld Counsel, thus stated that provisions of section 69A of the Act are not applicable on deposits made post-demonetization since currency`s value guaranteed till December 31, 2016. For that ld Counsel relied on the Judgment of Coordinate Bench of ITAT

N.R. AGARWAL INDUSTRIES LTD.,,VAPI vs. THE ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-3,, SURAT

In the result the ground No

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Virtual Hearing) I.T.(Ss)A’S No.14,15,16/Ahd/2016, Ita’S No.1302,1303& 3032/Ahd/2016 Assessment Years: 2007-08, 09-10, 10-11; 2011-12,12-13& 2013-14 N.R.Agarwal Industries Ltd., Vs The Acit/Dcit, Circle-3, Plot No.169 To 169, Phase No.1, Surat. Gidc, Vapi. [Pan: Aaacn 7721 N] अपीलाथ" / Appellant ""थ"/Respondent

vii) The quantity of finished goods produced during the year which is clearly reflected in the books of accounts in quantity as well as value for all the three Units has been duly accepted. In such a case where output has been accepted there can be no adverse view related to use of input for the same

THE ACIT, VAPI CIRCLE,, VAPI vs. M/S. N.R. AGARWAL INDUSTRIES LTD.,, VAPI

In the result the ground No

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Virtual Hearing) I.T.(Ss)A’S No.14,15,16/Ahd/2016, Ita’S No.1302,1303& 3032/Ahd/2016 Assessment Years: 2007-08, 09-10, 10-11; 2011-12,12-13& 2013-14 N.R.Agarwal Industries Ltd., Vs The Acit/Dcit, Circle-3, Plot No.169 To 169, Phase No.1, Surat. Gidc, Vapi. [Pan: Aaacn 7721 N] अपीलाथ" / Appellant ""थ"/Respondent

vii) The quantity of finished goods produced during the year which is clearly reflected in the books of accounts in quantity as well as value for all the three Units has been duly accepted. In such a case where output has been accepted there can be no adverse view related to use of input for the same

MAROLI VIBHAG KHAND UDYOG SAHAKARI MANDALI LTD,.,NA vs. ARIVS.ACIT, NAVSARI CIRCLE, , NAVSARI

depreciation,\nwhile Ground No. 15 is general in nature and does not call for separate\nadjudication. Since all effective grounds stem from the single determinative\nquestion of whether the excess cane price represents a deductible business\nexpenditure or a non-allowable appropriation of profit, Grounds Nos. 1 to\n14 are taken up together and adjudicated in a consolidated manner

ACIT, NA vs. ARI CIRCLE, NAVSARIVS.M/S. MAROLI VIBHAG KHAND UDYOG SAHAKARI MANDALI LTD.,, NAVSARI

In the result, all the appeals are disposed of in the manner indicated\nhereinbefore

depreciation,\nwhile Ground No. 15 is general in nature and does not call for separate\nadjudication. Since all effective grounds stem from the single determinative\nquestion of whether the excess cane price represents a deductible business\nexpenditure or a non-allowable appropriation of profit, Grounds Nos. 1 to\n14 are taken up together and adjudicated in a consolidated manner

SHREE KHEDUT SAHAKARI KHAND UDYOG MANDLI LTD.,BARDOLI vs. INCOME TAX OFFICER, WARD-1, BARDOLI

In the result, all the appeals are disposed of in the manner indicated\nhereinbefore

depreciation,\nwhile Ground No. 15 is general in nature and does not call for separate\nadjudication. Since all effective grounds stem from the single determinative\nquestion of whether the excess cane price represents a deductible business\nexpenditure or a non-allowable appropriation of profit, Grounds Nos. 1 to\n14 are taken up together and adjudicated in a consolidated manner

SAHAKARI KHAND UDYOG MANDAL LTD.,,GANDEVI vs. ACIT, NAVSARI CIRCLE, NAVSARI, NAVSARI

depreciation,\nwhile Ground No. 15 is general in nature and does not call for separate\nadjudication. Since all effective grounds stem from the single determinative\nquestion of whether the excess cane price represents a deductible business\nexpenditure or a non-allowable appropriation of profit, Grounds Nos. 1 to\n14 are taken up together and adjudicated in a consolidated manner

SAHADARI KHAND UDYOG MANDAL LTD.,,NA vs. ARIVS.ACIT, NAVSARI CIRCLE, NAVSARI, NAVSARI

depreciation,\nwhile Ground No. 15 is general in nature and does not call for separate\nadjudication. Since all effective grounds stem from the single determinative\nquestion of whether the excess cane price represents a deductible business\nexpenditure or a non-allowable appropriation of profit, Grounds Nos. 1 to\n14 are taken up together and adjudicated in a consolidated manner

SAHAKARI KHAND UDUOG MANDAL LTD.,NA vs. ARIVS.DCIT, NAVSARI CIRCLE, NAVSARI, NAVSARI

In the result, all the appeals are disposed of in the manner indicated\nhereinbefore

depreciation,\nwhile Ground No. 15 is general in nature and does not call for separate\nadjudication. Since all effective grounds stem from the single determinative\nquestion of whether the excess cane price represents a deductible business\nexpenditure or a non-allowable appropriation of profit, Grounds Nos. 1 to\n14 are taken up together and adjudicated in a consolidated manner

ACIT, NA vs. ARI CIRCLE, NAVSARIVS.M/S. MAROLI VIBHAG, KAND UDYOG SAHAKARI MANDALI LTD., NAVSARI

In the result, all the appeals are disposed of in the manner indicated\nhereinbefore

depreciation,\nwhile Ground No. 15 is general in nature and does not call for separate\nadjudication. Since all effective grounds stem from the single determinative\nquestion of whether the excess cane price represents a deductible business\nexpenditure or a non-allowable appropriation of profit, Grounds Nos. 1 to\n14 are taken up together and adjudicated in a consolidated manner

ACIT, NA vs. ARI CIRCLE., NAVSARIVS.M/S. MAROLI VIBHAG KHAND UDYOG SAHAKARI MANDALI LTD,, NAVASARI

depreciation,\nwhile Ground No. 15 is general in nature and does not call for separate\nadjudication. Since all effective grounds stem from the single determinative\nquestion of whether the excess cane price represents a deductible business\nexpenditure or a non-allowable appropriation of profit, Grounds Nos. 1 to\n14 are taken up together and adjudicated in a consolidated manner

KIRTIPRADA FASHIONS PVT. LTD.,SURAT vs. ITO, WARD -1(1)(3), SURAT

In the result, appeal of the assessee is allowed

56,24,679 2,54,43,572 3,42,27,572 2012-13 10,37,30,711 3,92,99,934 5,14,00,934 In view of rising turnover and profitability, charging of share premium @ Rs. 40 per share cannot at all be regarded as excessive. It is also pertinent to mention here that with increase in turnover

D V PROPERTIES PVT. LTD.,SURAT vs. PR. COMMISSIONER OF INCOME TAX - 1, SURAT

In the result, appeal filed by the assessee is partly allowed to the extent indicated above

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.121/Srt/2023 Assessment Year: (2018-19) (Physical Hearing) D. V. Properties Pvt. Ltd., Vs. The Pcit - 1, 748-749, Golden Plaza Market, Surat. Ring Road, Surat – 395002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaacd8392B (Appellant) (Respondent) Ms Chaitali Shah, Ca Appellant By Shri Ashok B. Koli, Cit(Dr) Respondent By Date Of Hearing 19/07/2023 Date Of Pronouncement 29/08/2023

56), (vi) Show cause notice issued u/s 263 by PCIT, dated 12.12.2022 (vide Pb.57 to 59), (vii) Letter filed before the PCIT, dated 22.12.2022 (vide Pb.60 to 67), (viii) Ledger of Multiplex (Theatre) of AY 2018-19 (vide Pb.68), (ix) Bills of additions made to theatres (vide Pb.69 to 72), (x) Relevant bank statement of Axis bank evidencing payments (vide