SIDDHI VINAYAK KNOTS & PRINTERS PVT. LTD.,SURAT vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, SURAT

In the result, all the appeals of the assessee are allowed and appeals of revenue are dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Sainiit(Ss)A Nos. 40, 41, 42, 43 & 115/Srt/2021 (Assessment Years 2010-11 To 2014-15) (Physical Hearing) Siddhi Vinayak Knots & Prints D.C.I.T., Pvt. Ltd., Central Circle-2, Vs. A-26, Central Park, Gidc, Surat. Pandesara, Surat-394221. Pan No. Aamcs 4421 L Appellant/ Assessee Respondent/ Revenue

131 of the Act was recorded on 23/05/2014. He confirmed about the sales made to the assessee. Notice issued to all the suppliers parties under Section 133(6) were duly complied. The Assessing Officer issued show cause notice for disallowance

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, SURAT vs. SIDDHI VINAYAK KNOTS & PRINTERS PVT. LTD., SURAT

In the result, all the appeals of the assessee are allowed and appeals of revenue are dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Sainiit(Ss)A Nos. 40, 41, 42, 43 & 115/Srt/2021 (Assessment Years 2010-11 To 2014-15) (Physical Hearing) Siddhi Vinayak Knots & Prints D.C.I.T., Pvt. Ltd., Central Circle-2, Vs. A-26, Central Park, Gidc, Surat. Pandesara, Surat-394221. Pan No. Aamcs 4421 L Appellant/ Assessee Respondent/ Revenue

131 of the Act was recorded on 23/05/2014. He confirmed about the sales made to the assessee. Notice issued to all the suppliers parties under Section 133(6) were duly complied. The Assessing Officer issued show cause notice for disallowance

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, VAPI vs. GUJARAT POLYSOL CHEMICALS LIMITED, VAPI

In the result, all the appeals filed by the revenue\nstands dismissed

131 and/or\nunder section 133(6) of the Act, wherein all suppliers have\nconfirmed their supplies and Sunil Patel in his affidavit by\nextracted in a statement during the search proceedings as\nclarified that he was under pressure and has no experience of\nworking in manufacturing industry and made a statement under\nmisconception of cash discounting on purchase; and по

MURTUJA HUSAINBHAI HIRANI,NA vs. ARIVS.INCOME TAX OFFICER, WARD - 3, , NAVSARI

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.196/Srt/2023 "नधा"रण वष"/Assessment Year: (2014-15) (Physical Hearing) Murtuja Hussainbhai Hirani, Vs. The Ito, Ward-3, Prop. Of R. K. Bullion, Navsari Shop No.5, Pranav Chamber Madhumati, Navsari – 396445, Gujarat. (Appellant) (Respondent) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aciph3680D Appellant By Shri Rasesh Shah, Ca Respondent By Shri Vinod Kumar, Sr. Dr 09/06/2023 Date Of Hearing Date Of Pronouncement 26/06/2023

disallowance can be made. We note that assessee`s case under consideration relates to assessment year 2014-15, where purchase in cash to the extent of Rs.20,000/- is allowed. We have gone through the assessee`s paper book and noted that each cash payment against each cash purchase, does not exceed Rs.20,000/-. Therefore, we note that cash purchase

GOKUL TEXPRINTS PRIVATE LIMITED,SURAT vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE (1)(1)(2), SURAT

In the result, the appeal of the assessee is partly allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Virtual Court) Gokul Texprints Pvt. Ltd., Deputy Commissioner Of B 74-77, Central Park, Income Tax Officer, Circle- Vs Pandesara, Gidc, Surat- (1)(1)(2), Room No. 105, 1St 394221 Floor, Aaykar Bhavan, Pan : Aabcg 3252 C Majura Gate, Surat- 395001 Assessee / Appellant Revenue /Respondent

section 36(1)(va). Accordingly, the Assessing Officer disallowed a sum of Rs.40,131/-. On appeal before the Ld. CIT(A) and both

DCIT, CIRCLE-2(1)(2), SURAT vs. M/S. SHREE DURGA SYNTEX PVT. LTD, SURAT

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

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Physical Court) D.C.I.T. M/S Shree Durga Syntex Pvt. Ltd., Circle-2(1)(2), Block No. 129 & 175, Plot No. Z&E, R.S. Vs. Room No. 205, Aayakar No. 120, Tal: Jolva-394305, Dist- Surat. Bhavan, Majura Gate, Pan: Aabcd 8894 P Surat. Appellant Respondednt M/S Shree Durga Syntex Pvt. Ltd., A.C.I.T. Block No. 129 & 175, Plot No. Circle-4, Vs. Z&E, Jolva Rs No. 120 & 120/1, Surat. Surat-394305. Pan: Aabcd 8894 P Appellant Respondednt

131 of the Act, Mr. Mahesh K. Baheti, DGM (Finance) of Paras Petrofils Ltd. attended the office of Assessing Officer and his statement was recorded. The Assessing Officer also gathered certain information like issuing the notice under Section 133(6) of the Act. On collecting certain information and on the basis of statement of DGM(Finance) of Paras Petrofils

SHREE DURGA SYNTEX PRIVATE LIMITED,SURAT vs. ACIT, CIRCLE-4, SURAT

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

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Physical Court) D.C.I.T. M/S Shree Durga Syntex Pvt. Ltd., Circle-2(1)(2), Block No. 129 & 175, Plot No. Z&E, R.S. Vs. Room No. 205, Aayakar No. 120, Tal: Jolva-394305, Dist- Surat. Bhavan, Majura Gate, Pan: Aabcd 8894 P Surat. Appellant Respondednt M/S Shree Durga Syntex Pvt. Ltd., A.C.I.T. Block No. 129 & 175, Plot No. Circle-4, Vs. Z&E, Jolva Rs No. 120 & 120/1, Surat. Surat-394305. Pan: Aabcd 8894 P Appellant Respondednt

131 of the Act, Mr. Mahesh K. Baheti, DGM (Finance) of Paras Petrofils Ltd. attended the office of Assessing Officer and his statement was recorded. The Assessing Officer also gathered certain information like issuing the notice under Section 133(6) of the Act. On collecting certain information and on the basis of statement of DGM(Finance) of Paras Petrofils

M/S KASHIRAM ATMARAM,SURAT vs. DY. COMMISSIONER OF INCOME TAX, CIRCLE - 1(1)(1), SURAT

In the result, ground No.1 of assessee is allowed

Bench: Shri Pawan Singh & Dr Arjun Lal Sainiआ.अ.सं./Ita No.236/Srt/2022 (Ay 2015-16) (Hearing In Physical Court) Kashiram Atmaram Deputy Commissioner Of 3/1949, Siddhi Sheri, Income-Tax, Vs Salabatpura, Surat-395003 Central Circle-(1)(1)(1), Pan No. Aadfk 2670 H Room No.108, Aayakar Bhawan, Majura Gate, Surat-395001 ""थ" /Respondent अपीलाथ"/Appellant

disallowed interest paid of Rs.2,78,500/-. The assessee submitted that it 3 M/s Kashiram Atmaram explained the details by filing reply on 09.10.2017, 18.12.2017 and again on 21.12.2017 before the Assessing Officer. The assessee submitted that Assessing Officer has not considered the fact properly which has been explained in detailed by assessee during personal hearing on 21.12.2017 and produced

SHRI SHAMJIBHAI M. SHELADIYA,SURAT vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIR.-3(2), SURAT

In the result, appeal of the assessee is partly allowed

Bench: Shri Pawan Singhआ.अ.सं./Ita No.234/Srt/2022 (Ay 2016-17) (Hearing In Physical Court) Shri Shamjibhai M Sheladiya Assistant Commissioner Of 11, Chandanbaug Society, Income-Tax, Circle-3(2), Vs Opp. Dharam Nagar, A.K. Aayakar Bhawan, Majura Road, Surat-395006 Gate, Surat-395001 Pan No: Afxps 3164 B अपीलाथ"/Appellant ""यथ" /Respondent "नधा"रती क" ओर से /Assessee By Shri Sapnesh R Sheth, C.A राज"व क" ओर से /Revenue By Shri Vinod Kumar, Sr-Dr सुनवाई की तारीख/Date Of Hearing 28.12.2022 उ"घोषणा क" तार"ख/Date Of 03.03.2023 Pronouncement Order Under Section 254(1) Of Income Tax Act Per Pawan Singh: 1. This Appeal By Assessee Is Directed Against The Order Of National Faceless Appeal Centre, Delhi [For Short To As “Nfac/Ld.Cit(A)”] Dated 27.05.2022 For Assessment Year 2016-17, Which In Turn Arises Out Assessment Order Passed By Assessing Officer Under Section 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Dated 06.12.2018. The Assessee Has Raised The Following Grounds Of Appeal:- “1. On The Facts Of The Case As Well As Law On The Subject, The Learned Cit(A), Nfac Has Erred In Confirming The Action Of Assessing Officer In Making Addition Of Rs.15,00,000/- As Unexplained Cash Credit U/S 68 Of The I.T. Act,1961. Sh.Shamjibhai M Sheladiya 2. On The Facts & Circumstances Of The Case As Well As Law On The Subject, The Learned Cit(A), Nfac Has Erred In Confirming The Action Of Assessing Officer In Invoking Provisions Of Section 115Bbe Of The Act & In Thereby Taxing Entire Cash Credit Of Rs.15,00,000/- At 30 Percentage.

disallowance under Chapter-VIA of Rs.1.50 lakh, NFAC/Ld. CIT(A) held that in appellate proceeding, the assessee could not explain his source of cash for LIC premium paid. The assessee simply stated that investment was shown in assessee’s balance-sheet. Further aggrieved the assessee has filed present appeal before the Tribunal. 6. I have heard the submissions

DHANSUKHLAL RAMANBHAI MALI,SURAT vs. INCOME TAX OFFICER, WARD2(3)(1), SURAT

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

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Physical Court) Dhansukhlal Ramanbhai Mali, I.T.O., 10, Mali Faliya, Mota Varachha, Ward-2(3)(1), Vs. Surat. Surat. Pan: Aqppm 7151 B Appellant Respondednt

disallowed the deduction under Section 54F of the Act by taking a view that the assessee claimed renovation of residential house. The assessee claimed that renovation was undertaken through contractors. Notices under Section 131

M/S. RUCHI SAREES PVT. LTD.,SURAT vs. INCOME TAX OFFICER, WARD 2(1)(1), , SURAT

In the result, ground No. 1 of the appeal is also dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

disallowance of interest expenses of Rs. 80,811/- under Section 68 of the Income Tax Act, 1961. 2. The Hon'ble CIT(Appeals)-II, Surat was not justified in confirming the addition made of Rs. 26,00,000/- on account of unexplained cash credit under Section 68 of the Income Tax Act, 1961. 3. The appellant reserves the right

M/S. RUCHI SAREES PVT. LTD.,SURAT vs. INCOME TAX OFFICER, WARD 2(1)(1), , SURAT

In the result, ground No. 1 of the appeal is also dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

disallowance of interest expenses of Rs. 80,811/- under Section 68 of the Income Tax Act, 1961. 2. The Hon'ble CIT(Appeals)-II, Surat was not justified in confirming the addition made of Rs. 26,00,000/- on account of unexplained cash credit under Section 68 of the Income Tax Act, 1961. 3. The appellant reserves the right

M/S. RUCHI SAREES PVT. LTD.,SURAT vs. INCOME TAX OFFICER, WARD 2(1)(1), , SURAT

In the result, ground No. 1 of the appeal is also dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

disallowance of interest expenses of Rs. 80,811/- under Section 68 of the Income Tax Act, 1961. 2. The Hon'ble CIT(Appeals)-II, Surat was not justified in confirming the addition made of Rs. 26,00,000/- on account of unexplained cash credit under Section 68 of the Income Tax Act, 1961. 3. The appellant reserves the right

M/S. RUCHI SAREES PVT. LTD.,SURAT vs. INCOME TAX OFFICER, WARD 2(1)(1), , SURAT

In the result, ground No. 1 of the appeal is also dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

disallowance of interest expenses of Rs. 80,811/- under Section 68 of the Income Tax Act, 1961. 2. The Hon'ble CIT(Appeals)-II, Surat was not justified in confirming the addition made of Rs. 26,00,000/- on account of unexplained cash credit under Section 68 of the Income Tax Act, 1961. 3. The appellant reserves the right

JUPAX DISTRIBUTORS PVT. LTD.,KOLKATA vs. ITO WARD 12(2), KOLKATA

In the result, ground of appeal raised by the assessee assessment order allowed for statistical purposes

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Physical Hearing) Jupax Distributors Pvt. Ltd., A.C.I.T., Circle-4,Surat. 58A, Raja Basant Roy Road, (Old A.O.: Ito, Ward 12(2), Vs. Kolkata-700029. Kolkata (Wb) Pan No. Aaacj 6952 F Appellant/ Assessee Respondent/ Revenue

Section 131 of the Income Tax Act, 1961 (in short, the Act) was issued to the signatory director of the assessee company for his personal appearance and to produce the details of investors. The Assessing Officer recorded that no details were furnished nor books of account were produced, therefore, the source of capital raised and premium received against share capital

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, VAPI vs. GUJARAT POLYSOL CHEMICALS LIMITED, VAPI

In the result, the appeal of assessee is partly allowed whereas appeal of Revenue is dismissed

Bench: Hon’Ble Shri Sandeep Gosain & Hon’Ble Shri Om Prakash Kant & & Assistant Commissioner Of Vs. Gujarat Polysol Income Tax Chemicals Limited 9Th Floor, Fortune Square Ii, 1, Plot No. 1734, 3Rd Daman Road, Chala, Vapi Phase, Gidc, Vapi, 396191 Gujarat 396195 Pan/Gir No. Aaacg8908Q (Applicant) (Respondent)

131 and/or under section 133(6) of the Act, wherein all suppliers have confirmed their supplies and Sunil Patel in his affidavit by extracted in a statement during the search proceedings as clarified that he was under pressure and has no experience of working in manufacturing industry and made a statement under misconception of cash discounting on purchase

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, VAPI vs. GUJARAT POLYSOL CHEMICALS LIMITED, VAPI

In the result, the appeal of assessee is partly allowed whereas appeal of Revenue is dismissed

Bench: Hon’Ble Shri Sandeep Gosain & Hon’Ble Shri Om Prakash Kant & & Assistant Commissioner Of Vs. Gujarat Polysol Income Tax Chemicals Limited 9Th Floor, Fortune Square Ii, 1, Plot No. 1734, 3Rd Daman Road, Chala, Vapi Phase, Gidc, Vapi, 396191 Gujarat 396195 Pan/Gir No. Aaacg8908Q (Applicant) (Respondent)

131 and/or under section 133(6) of the Act, wherein all suppliers have confirmed their supplies and Sunil Patel in his affidavit by extracted in a statement during the search proceedings as clarified that he was under pressure and has no experience of working in manufacturing industry and made a statement under misconception of cash discounting on purchase

GUJARAT POLYSOL CHEMICALS LIMITED LIMITED,VAPI vs. THE ASST. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1, VAPI, VAPI

In the result, the appeal of assessee is partly allowed whereas appeal of Revenue is dismissed

Bench: Shri Pawan Singh & Dr Arjun Lal Sainiआ.अ.सं./Ita No.513 & 595/Srt/2023 (Ay 2018-19) (Hearing In Physical Court) Gujarat Polysol Chemicals Ltd. Assistant Commissioner Of 1, Plot No.1734, 3Rd Phase. Income Tax, Central Circle-1, Vs Gidc, Vapi-396195 Vapi, 8Th Floor, Fortune Square- Pan No. Aaacg 8908 Q Ii, Above Tbz, Chala-396191 अपीलाथ"/Appellant ""थ" /Respondent /Ita No.595/Srt/2023 (Ay 2018-19) Deputy Commissioner Of Gujarat Polysol Chemicals Ltd., Income Tax, Central Circle, I, Plot No.1734, 3Rd Phase, Gidc, Vs Vapi, 9Th Floor, Fortune Vapi-396195 Pan No.Aaacg 8908 Q Square-Ii, Daman Road, Chala, Vapi-396191 अपीलाथ"/Appellant ""थ" /Respondent

131 and /or under section 133(6) of the Act, wherein all suppliers have confirmed their supplies and Sunil Patel in his affidavit by extracted in a statement during the search proceedings as clarified that he was under pressure and has no experience of working in manufacturing industry and made a statement under misconception of cash discounting on purchase

DCIT, VAPI vs. GUJARART POLYSOL CHEMICAL LTD, VAPI

In the result, the appeal of assessee is partly allowed whereas appeal of Revenue is dismissed

Bench: Shri Pawan Singh & Dr Arjun Lal Sainiआ.अ.सं./Ita No.513 & 595/Srt/2023 (Ay 2018-19) (Hearing In Physical Court) Gujarat Polysol Chemicals Ltd. Assistant Commissioner Of 1, Plot No.1734, 3Rd Phase. Income Tax, Central Circle-1, Vs Gidc, Vapi-396195 Vapi, 8Th Floor, Fortune Square- Pan No. Aaacg 8908 Q Ii, Above Tbz, Chala-396191 अपीलाथ"/Appellant ""थ" /Respondent /Ita No.595/Srt/2023 (Ay 2018-19) Deputy Commissioner Of Gujarat Polysol Chemicals Ltd., Income Tax, Central Circle, I, Plot No.1734, 3Rd Phase, Gidc, Vs Vapi, 9Th Floor, Fortune Vapi-396195 Pan No.Aaacg 8908 Q Square-Ii, Daman Road, Chala, Vapi-396191 अपीलाथ"/Appellant ""थ" /Respondent

131 and /or under section 133(6) of the Act, wherein all suppliers have confirmed their supplies and Sunil Patel in his affidavit by extracted in a statement during the search proceedings as clarified that he was under pressure and has no experience of working in manufacturing industry and made a statement under misconception of cash discounting on purchase