INCOME TAX OFFICER, WARD-2(3)(8), SURAT vs. MAHAVEER SHANTILAL JAIN, SURAT

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.453/Srt/2019 "नधा"रण वष"/Assessment Year: (2013-14) (Physical Hearing) The Ito, Vs. Mahaveer Shantilal Jain, Ward-2(3)(8), Prop. M/S Mukesh Diamonds, 1St Surat. Office No.401, Floor, H.No.5/1171/72/73/1090, New Dtc, Hath Falia, Haripura, Surat – 395009. (Appellant) (Respondent) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aqupj6439L Appellant By Shri Ritesh Mishra, Cit(Dr) Respondent By Shri P. M. Jagasheth, Ca Date Of Hearing 08/09/2023 Date Of Pronouncement 25/09/2023

Disallowance confirmed 2013-14 Rs.7,37,44,213/- Rs.36,87,210/- 12. In the result the appeal is partly allowed.” 10. Aggrieved by the order of Ld. CIT(A), the Revenue is in appeal before us and assessee has also filed additional ground under Rule 11 read with Rule 27 of the ITAT Rules, which is reproduced below for ready

MUMTAZ DILAWAR GANI,,BHARUCH vs. THE ITO, WARD-1,, BHARUCH

Appeal is allowed

Bench: Shri Pawan Singh, Jm &Dr. A.L.Saini, Am आयकर अपील सं/.Ita Nos.1442 & 1443/Ahd/2017 (िनधा"रणवष" / Assessment Years: (2011-12 & 2012-13) (Physical Court Hearing) Mumtaz Dilawar Gani Income Tax Officer, 6, White House, Near Railway Ward-1, Bharuch Vs. Crossing, Dahej Byepass Road, Income Tax Officer, Ward-1(2), Bharuch-392001 Bharuch "थायीलेखासं /.जीआइआरसं /.Pan/Gir No.: Adcpg 1175 D (अपीलाथ" /Assessee ) (""थ" /Respondent) "नधा"रती क" ओर से /Assessee By : Shri Krutarth Desai, Advocate & Ms. Disha Kharod, C.A राज"व क" ओर से /Respondent By : Shri Vinod Kumar, Sr-.Dr सुनवाईकीतारीख / Date Of Hearing : 31/03/2023 घोषणाकीतारीख /Date Of Pronouncement : 23/05/2023

disallowance of sundry/temporary loan should not be made after rejection of books of accounts especially when such temporary loan was taken to purchase trading goods. 13. In respect of sundry creditors/temporary loan, Shri Desai, further pleaded that the assessee had furnished details and documents before the Assessing Officer such as, confirmation of creditors containing their PAN number, name and address

MUMTAZ DILAWAR GANI,,BHARUCH vs. THE ITO, WARD-1,, BHARUCH

Appeal is allowed

Bench: Shri Pawan Singh, Jm &Dr. A.L.Saini, Am आयकर अपील सं/.Ita Nos.1442 & 1443/Ahd/2017 (िनधा"रणवष" / Assessment Years: (2011-12 & 2012-13) (Physical Court Hearing) Mumtaz Dilawar Gani Income Tax Officer, 6, White House, Near Railway Ward-1, Bharuch Vs. Crossing, Dahej Byepass Road, Income Tax Officer, Ward-1(2), Bharuch-392001 Bharuch "थायीलेखासं /.जीआइआरसं /.Pan/Gir No.: Adcpg 1175 D (अपीलाथ" /Assessee ) (""थ" /Respondent) "नधा"रती क" ओर से /Assessee By : Shri Krutarth Desai, Advocate & Ms. Disha Kharod, C.A राज"व क" ओर से /Respondent By : Shri Vinod Kumar, Sr-.Dr सुनवाईकीतारीख / Date Of Hearing : 31/03/2023 घोषणाकीतारीख /Date Of Pronouncement : 23/05/2023

disallowance of sundry/temporary loan should not be made after rejection of books of accounts especially when such temporary loan was taken to purchase trading goods. 13. In respect of sundry creditors/temporary loan, Shri Desai, further pleaded that the assessee had furnished details and documents before the Assessing Officer such as, confirmation of creditors containing their PAN number, name and address

ACIT, CIRCLE-2, BHARUCH vs. SNS TEXTILES LIMITED,, ANKLESHWAR

In the result, the appeal of the Revenue is dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Virtual Court) Assistant Commissioner Of M/S Sns Textiles Ltd. Income Tax Circle-2, 330-A, Opp. Atul Products Vs Bharuch, 2Nd Floor, Harikunj Ltd., Gidc, Ankleshwar- Building, Above Bank Of 393002 Baroda, Station Road, Pan : Aadcs 4565 N Bharuch-392001 Appellant / Revenue Respondent / Assessee

section 32(2)(iii)(b) of the Income Tax Act as amended by Finance (NBo.2) Act, 1996 w.e.f. 1st April 1997. 2. On the facts and circumstances of the case and in law, the C.I.T.(A) erred in holding that the disallowance made by the AO on account of carried forward unabsorbed depreciation

SACHIN NOTIFIED AREA,SURAT vs. THE PR. COMMISSIONER O INCOME TAX - 1, SURAT, SURAT

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

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Pruseth

disallowing exemption of Rs.3,76,57,512/- claimed u/s 10(20) of the Act. 4. The ld. PCIT called for the assessment records and examined the same. He found that the assessee had received Rs.9,16,72,902/- towards interest on FDR, which was not routed through the Income and Expenditure account but was directly shown in the balance sheet

SACHIN NOTIFIED AREA,SURAT vs. PR. CIT, SURAT, SURAT

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

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Pruseth

disallowing exemption of Rs.3,76,57,512/- claimed u/s 10(20) of the Act. 4. The ld. PCIT called for the assessment records and examined the same. He found that the assessee had received Rs.9,16,72,902/- towards interest on FDR, which was not routed through the Income and Expenditure account but was directly shown in the balance sheet

SACHIN NOTIFIED AREA,SURAT vs. PR. CIT, SURAT, SURAT

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

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Pruseth

disallowing exemption of Rs.3,76,57,512/- claimed u/s 10(20) of the Act. 4. The ld. PCIT called for the assessment records and examined the same. He found that the assessee had received Rs.9,16,72,902/- towards interest on FDR, which was not routed through the Income and Expenditure account but was directly shown in the balance sheet

SACHIN NOTIFIED AREA,SURAT vs. PR. CIT, SURAT, SURAT

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

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Pruseth

disallowing exemption of Rs.3,76,57,512/- claimed u/s 10(20) of the Act. 4. The ld. PCIT called for the assessment records and examined the same. He found that the assessee had received Rs.9,16,72,902/- towards interest on FDR, which was not routed through the Income and Expenditure account but was directly shown in the balance sheet