THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(2),, SURAT vs. M/S. KEJRIWAL INDUSTRIES LTD.,, SURAT

In the result, the appeal of the Revenue is dismissed

Bench: Shri Sandeep Gosain & Shri O.P.Meena

section 68 of the Act by the AO. We further observed that the ld. CIT (A) has examined each and 19. every creditors/ lenders and given his factual findings of enquiry DCIT, Circle-1(1)(2), Surat Vs. Kejriwal Industries Ltd.,/ITA No.1509/AHD/2016 for A.Y. 2011-12 Page 38 of 49 report as well as facts of each lenders

ACIT, CENTRAL CIRCLE, VAPI vs. M/S. SHAH VIRCHAND GOVANJI JEWELLERS PVT. LTD, SURAT

In the result, ground No. 2 of appeal raised by revenue is also dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

68 as unexplained credit amounts to double taxation of the same income. The said situation has been upheld in latest Apex Court Judgment of Montage Enterprises (P) Ltd. (2018) 100 Taxmann.com 100 (SC) and other decisions. The Honorable CIT(A) has also relied on the said decisions as mentioned in last para of the Appellate order challenged by the revenue

ACIT, CENTRAL CIRCLE, VAPI vs. M/S. SHAH VIRCHAND GOVANJI JEWELLERS PVT. LTD, SURAT

In the result, ground No. 2 of appeal raised by revenue is also dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

68 as unexplained credit amounts to double taxation of the same income. The said situation has been upheld in latest Apex Court Judgment of Montage Enterprises (P) Ltd. (2018) 100 Taxmann.com 100 (SC) and other decisions. The Honorable CIT(A) has also relied on the said decisions as mentioned in last para of the Appellate order challenged by the revenue

MOHANBHAI RAGHAVBHAI BELADIYA,SURAT vs. INCOME TAX OFFICER, WARD - 3(2)(5), SURAT

In the result, the appeal of the assessee is allowed in the terms indicated above

Bench: Shri Dr. A. L. Sainiआयकर अपील सं./Ita No.359/Srt/2023 Assessment Year: (2012-13) (Physical Hearing) Mohanbhai Raghavbhai Beladiya, Vs. The Ito, 41-42, Vishnu Nagar Society – 1, Ward-3(2)(5), Ankur Char Rasta, A. K. Road, Surat Surat – 395008. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aospb9227J (Assessee) (Respondent)

68 of the Act. 18. On the other hand, Learned Senior Departmental Representative (Ld. Sr. DR) for the Revenue, pleaded that the agricultural bills and documents submitted by the assessee does not contain the relevant details. The cotton bills and sugar cane bills submitted by assessee are self-made bills and vouchers and therefore should not be relied on these

BHAGYASHRI CREATION PVT LTD,SURAT vs. PCIT-1, SURAT

In the result, the appeal of the assessee is allowed

68 can be\nmade applicable only when any sum found credited in the books of account\nof an assessee maintains in previous year. Thus, no addition can be made as\nno credit received in assessment year 2018-19. In other without prejudice\nsubmission, assesse submitted that no addition can be made on account of\nloan which was taken by assessee

SAMIR YOGENDRABHAI PARIKH,NA vs. ARIVS.THE PCIT, VALSAD, VALSAD

In the result, this appeal of assessee is allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Virtual Hearing) Samir Yogendrabhai Parikh. The Pr.Cit, Alka Society, Chhapara Road, Valsad. Vs. Dist.-Navsari-396445, Gujarat. Pan No. Abgpp 6727 N Appellant/ Assessee Respondent/ Revenue

68 by treating the same as unexplained sum. The assessee filed his reply dated 25/03/2022. Copy of reply is placed on record in page No. 354 to 371 of the paper book. The ld. Pr.CIT thereafter directed to carry out de novo assessment without specifying as to how the order is erroneous or prejudicial to the interest of revenue

BALUBHAI BRIJBHUKHANDAS CHOKSI,NA vs. ARIVS.PRINCIPAL COMMISSIONER OF INCOME TAXVALSAD, VALSAD

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.119/Srt/2022 ("नधा"रणवष" / Assessment Year: (2017-18) (Physical Court Hearing) Balubhai Brijbhukhandas Principal Commissioner Of Income- Tax-Valsad, Room No. 301, 3Rd Floor, Choksi, Mota Bazar, Vs. Navsari-396445 Income Tax Office, Palak Arcade, Pali Hill, Santinagar, Tithal Road, Valsad-396001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaifb 9804 B (अपीलाथ" /Appellant) (""थ" /Respondent) िनधा"रती की ओर से /Assessee By : Shri Hiren M. Diwan, C.A राज"व क" ओर से /Respondent By: Shri Ravinder Sindhu, Cit-D.R

68,69A to 60D. 6. In view of the above, you are therefore, required to show-cause as to why the said assessment order be not set-aside by invoking the provisions of section 263 of I.T. Act, 1961. You are request to submit your reply on or before 25.03.2022.” 5. In response to the notice, the assessee submitted

KISHORKUMAR DHIRAJLAL KATHROTIYA,SURAT vs. DCIT, CENTRAL CIRCLE-4, , SURAT

In the result the appeal filed by the Revenue in ITA No

108 to 125 of Annexure A-20.\nHence, the said addition cannot be made again in the hands of the\nappellant. In view of the same, the addition of Rs.23,29,900/- stands\ndeleted. Ground No.7 is allowed.\n18.1. Ground No.10 Addition of Rs.21,11,577/- u/s. 68 on\naccount of unexplained cash credits. The findings

MUKESH PARSHOTTAMBHAI MANGUKIYA,SURAT vs. ITO WARD-3(2)(5), SURAT

In the result, this ground of appeal is partly allowed

Bench: Shri Pawan Singh(Physical Hearing) Mukesh Parshottambhai Mangukiya, I.T.O., 58-59, Jalaram Society, Ved Road, Ward-3(2)(5) Vs. Surat (Gujarat). Surat. Pan No. Arxpm 7000 N Appellant/ Assessee Respondent/ Revenue

68 cannot be applied against the assessee in view of decision of Hon'ble Delhi High Court in Racman Spring 55 ITD 159 (Delhi). 7. On the other hand, the ld. Sr. DR for the revenue submits that explanation of assessee about the loan and advances is not sacrosanct. In the earlier years/preceeding assessment years, the assessee has shown gross

SATYAM TEXTILE PARK,SURAT vs. PR. COMMISSIONER OF INCOME TAX (CENTRAL), SURAT

In the result the ground No

Bench: Shri Pawan Singh & Dr Arjun Lal Saini

68 to 69 of the act. The ld. PCIT also noted that the assessee in addition to on money must have generated some profit from allotment of plots to customers. On the various observation made by ld. PCIT, the ld AR for the assessee submits that assessee has duly accounted each and every entry of the impounded materials and prepared

SATYAM TEXTILE PARK,SURAT vs. PR. COMMISSIONER OF INCOME TAX (CENTRAL), SURAT

In the result the ground No

Bench: Shri Pawan Singh & Dr Arjun Lal Saini

68 to 69 of the act. The ld. PCIT also noted that the assessee in addition to on money must have generated some profit from allotment of plots to customers. On the various observation made by ld. PCIT, the ld AR for the assessee submits that assessee has duly accounted each and every entry of the impounded materials and prepared

DCIT, CIRCLE-2(1)(1), SURAT, SURAT vs. SURENDRAN NANOO, KERALA

Bench: Shri Siddhartha Nautiyal & Shri Bijayananda Prusethआयकर अपील सं./Ita No.821/Srt/2024 Assessment Year: 2017-18 (Hybrid Hearing)

68 of the Act. 2. On the facts and circumstances of the case and in law, the Ld. CIT has erred in accepting the argument of the assessee that no fresh funds were infused as the gift transaction is books entry and has not appreciated that the assessee Shri Surendran Nanoo has received fresh funds in the form of gift

DAGINA JEWELLERS INDIA (P) LTD,SURAT vs. ACIT, CENTRAL CIRCLE-2, SURAT

In the result, grounds Nos

Bench: Shri Pawan Singh, Hon'Ble & Dr. Arjun Lal Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

Sections 68 and 69 are not applicable for trading transactions like deposit of cash out of cash sales and excess closing stock. For that reliance can be placed on the judgment of Hon`ble Gujarat High Court in the case of Shilpa Dyeing & Printing Mills Ltd, Tax Appeal No. 290 of 2013, dated 04.04.2013. Therefore, we direct the Assessing

DAGINA JEWELLERS INDIA (P) LTD,SURAT vs. ACIT, CENTRAL CIRCLE-2, SURAT

In the result, grounds Nos

Bench: Shri Pawan Singh, Hon'Ble & Dr. Arjun Lal Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

Sections 68 and 69 are not applicable for trading transactions like deposit of cash out of cash sales and excess closing stock. For that reliance can be placed on the judgment of Hon`ble Gujarat High Court in the case of Shilpa Dyeing & Printing Mills Ltd, Tax Appeal No. 290 of 2013, dated 04.04.2013. Therefore, we direct the Assessing

DY. COMMISSIONER OF INCOME TAX, CENTRA CIR.2, SURAT vs. DAGINA JEWELLERS INDIA PVT. LTD., SURAT

In the result, grounds Nos

Bench: Shri Pawan Singh, Hon'Ble & Dr. Arjun Lal Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

Sections 68 and 69 are not applicable for trading transactions like deposit of cash out of cash sales and excess closing stock. For that reliance can be placed on the judgment of Hon`ble Gujarat High Court in the case of Shilpa Dyeing & Printing Mills Ltd, Tax Appeal No. 290 of 2013, dated 04.04.2013. Therefore, we direct the Assessing

ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, SURAT vs. M/S. DAGINA JEWELLERS PVT. LTD., , SURAT

In the result, grounds Nos

Bench: Shri Pawan Singh, Hon'Ble & Dr. Arjun Lal Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

Sections 68 and 69 are not applicable for trading transactions like deposit of cash out of cash sales and excess closing stock. For that reliance can be placed on the judgment of Hon`ble Gujarat High Court in the case of Shilpa Dyeing & Printing Mills Ltd, Tax Appeal No. 290 of 2013, dated 04.04.2013. Therefore, we direct the Assessing

DAGINA JEWELLERS INDIA (P) LTD,SURAT vs. ACIT, CENTRAL CIRCLE-2, SURAT

In the result, grounds Nos

Bench: Shri Pawan Singh, Hon'Ble & Dr. Arjun Lal Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

Sections 68 and 69 are not applicable for trading transactions like deposit of cash out of cash sales and excess closing stock. For that reliance can be placed on the judgment of Hon`ble Gujarat High Court in the case of Shilpa Dyeing & Printing Mills Ltd, Tax Appeal No. 290 of 2013, dated 04.04.2013. Therefore, we direct the Assessing

DAGINA JEWELLERS INDIA (P) LTD,SURAT vs. ACIT, CENTRAL CIRCLE-2, SURAT

In the result, grounds Nos

Bench: Shri Pawan Singh, Hon'Ble & Dr. Arjun Lal Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

Sections 68 and 69 are not applicable for trading transactions like deposit of cash out of cash sales and excess closing stock. For that reliance can be placed on the judgment of Hon`ble Gujarat High Court in the case of Shilpa Dyeing & Printing Mills Ltd, Tax Appeal No. 290 of 2013, dated 04.04.2013. Therefore, we direct the Assessing

DAGINA JEWELLERS INDIA (P) LTD.,SURAT vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIR.,2, SURAT

In the result, grounds Nos

Bench: Shri Pawan Singh, Hon'Ble & Dr. Arjun Lal Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

Sections 68 and 69 are not applicable for trading transactions like deposit of cash out of cash sales and excess closing stock. For that reliance can be placed on the judgment of Hon`ble Gujarat High Court in the case of Shilpa Dyeing & Printing Mills Ltd, Tax Appeal No. 290 of 2013, dated 04.04.2013. Therefore, we direct the Assessing