BETEX INDIA LIMITED,SURAT vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2, SURAT

In the result, Ground No. 4 to 6 raised by the Revenue in ITA

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

120/- to Rs.1,45,751/- by holding that it is reasonable to consider 5% as net profit on the net unaccounted job receipts as income for the year under consideration. 2. Common Ground No.2: In these common grounds, the Revenue has raised the issue that Ld. CIT(A) has erred in entertaining the rectification application under section

SEJAL JEWELLERS PVT. LTD.,,SURAT vs. THE INCOME TAX OFFICER, WARD-2(1)(2),, SURAT

In the result, appeal of the assessee is allowed

Bench: Shripawan Singh, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.435/Ahd/2017 (िनधा"रणवष" / Assessment Year: (2012-13) (Virtual Court Hearing) Sejal Jewellers Pvt. Ltd, Income Tax Officer, Ward-2(1)(2), V Ug-4/5 Rangila Park, Ghod Dod Surat, Aaykar Bhavan, Majura Gate, S. Road, Surat-395007 Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqcs 8686 P (Appellant ) (Respondent)

Section 68 of the Act to prove the genuineness of cash credits received by the assessee. Before us the assessee-company has submitted in respect of each share applicants, the following details and documents to prove the Identity, Creditworthiness and Genuineness of Transactions, which are given below: (1) In respect of M/s Momentum Real Estate Pvt Ltd, the assessee

DAMODAR JAJOO,SURAT vs. INCOME TAX OFFICER, WD.2(2)(1), SURAT

In the result, appeal filed by the assessee (in ITA No

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita Nos.183 To 184/Srt/2021 ("नधा"रणवष" / Assessment Years: (2011-12) (Physical Court Hearing) Damodar Jajoo, Vs. The Ito, Ward-2(2)(1), 429-432, Golden Point, Nr. Bsnl Surat. Office, Falsawadi, Ring Road, Surat-395002, Gujarat. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aawpj4341H (Assessee) (Respondent) आयकरअपीलसं./Ita No.185/Srt/2021 ("नधा"रणवष" / Assessment Year: (2012-13) Jasodadevi Rajaram Jajoo, Vs. The Ito, Ward-2(2)(2), 429-432, Golden Point, Ring Surat. Road, Falsawadi, Begampura, Surat-395002, Gujarat. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqpj7257E (Assessee) (Respondent) Assessee By Ms Richa Tosniwal, Ca & Shri Harishankar Tosniwal, Ca Shri J. K. Chandnani, Sr. Dr Respondent By Date Of Hearing 21/11/2022 Date Of Pronouncement 09/12/2022

Section 68 of the Act, it would be beneficial to refer to the decision of the High Court of Delhi in CIT Nippun Builders and 183 to 185/SRT/2021/AYs.2011-12 & 2012-13 Damodar Jajoo & Jashodadevi R. Jajoo Development Private Limited in ITA NO. 120

JASODADEVI RAJARAM JAJOO,SURAT vs. INCOME TAX OFFICER WD.-2(2)(2), SURAT

In the result, appeal filed by the assessee (in ITA No

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita Nos.183 To 184/Srt/2021 ("नधा"रणवष" / Assessment Years: (2011-12) (Physical Court Hearing) Damodar Jajoo, Vs. The Ito, Ward-2(2)(1), 429-432, Golden Point, Nr. Bsnl Surat. Office, Falsawadi, Ring Road, Surat-395002, Gujarat. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aawpj4341H (Assessee) (Respondent) आयकरअपीलसं./Ita No.185/Srt/2021 ("नधा"रणवष" / Assessment Year: (2012-13) Jasodadevi Rajaram Jajoo, Vs. The Ito, Ward-2(2)(2), 429-432, Golden Point, Ring Surat. Road, Falsawadi, Begampura, Surat-395002, Gujarat. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqpj7257E (Assessee) (Respondent) Assessee By Ms Richa Tosniwal, Ca & Shri Harishankar Tosniwal, Ca Shri J. K. Chandnani, Sr. Dr Respondent By Date Of Hearing 21/11/2022 Date Of Pronouncement 09/12/2022

Section 68 of the Act, it would be beneficial to refer to the decision of the High Court of Delhi in CIT Nippun Builders and 183 to 185/SRT/2021/AYs.2011-12 & 2012-13 Damodar Jajoo & Jashodadevi R. Jajoo Development Private Limited in ITA NO. 120

DAMODAR JAJOO,SURAT vs. INCOME TAX OFFICER, WD.2(2)(1), SURAT

In the result, appeal filed by the assessee (in ITA No

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita Nos.183 To 184/Srt/2021 ("नधा"रणवष" / Assessment Years: (2011-12) (Physical Court Hearing) Damodar Jajoo, Vs. The Ito, Ward-2(2)(1), 429-432, Golden Point, Nr. Bsnl Surat. Office, Falsawadi, Ring Road, Surat-395002, Gujarat. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aawpj4341H (Assessee) (Respondent) आयकरअपीलसं./Ita No.185/Srt/2021 ("नधा"रणवष" / Assessment Year: (2012-13) Jasodadevi Rajaram Jajoo, Vs. The Ito, Ward-2(2)(2), 429-432, Golden Point, Ring Surat. Road, Falsawadi, Begampura, Surat-395002, Gujarat. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqpj7257E (Assessee) (Respondent) Assessee By Ms Richa Tosniwal, Ca & Shri Harishankar Tosniwal, Ca Shri J. K. Chandnani, Sr. Dr Respondent By Date Of Hearing 21/11/2022 Date Of Pronouncement 09/12/2022

Section 68 of the Act, it would be beneficial to refer to the decision of the High Court of Delhi in CIT Nippun Builders and 183 to 185/SRT/2021/AYs.2011-12 & 2012-13 Damodar Jajoo & Jashodadevi R. Jajoo Development Private Limited in ITA NO. 120

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

Section 68 of the Act, it would be beneficial to refer to the decision of the High Court of Delhi in CIT Nippun Builders and Development Private Limited in ITA NO. 120

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

In the result, assessee's appeal is allowed

Section 68 of the\nAct, it would be beneficial to refer to the decision of the High Court of Delhi in\nCIT Nippun Builders and Development Private Limited in ITA NO. 120

MAHOTSAV CREATION PVT. LTD.,SURAT vs. PR. COMMISSION OF INCOME TAX, -1,, SURAT

In the result, Both the appeals filed by the assessee are allowed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.49 & 50/Srt/2021 Assessment Years: (2010-11 & 2011-12) (Virtual Court Hearing) Mahotsav Creation Pvt. Ltd., Vs. Principal Commissioner Of 101-102, 1St Floor, Sakar Textile Income-Tax-1, Aayakar Bhawan, Market, Ring Road, Surat-395002. Majura Gate, Surat-395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaecm2394Q (Appellant) (Respondent) Assessee By Shri Hardik Vora, Advocate Respondent By Shri H. P. Meena, Cit(Dr) Date Of Hearing 28/06/2022 22/08/2022 Date Of Pronouncement

68 of the Act. It is also noted that in spite of repeated request, the Ld. Assessing Officer did not provide opportunity to cross examine the concerned persons and even the relevant information and allegation, if any, made therein, which has been used against the assessee, was not provided to the assessee. At this stage, we add here that mere

MAHOTSAV CREATION PVT. LTD.,SURAT vs. PR. COMMISSION OF INCOME TAX, -1,, SURAT

In the result, Both the appeals filed by the assessee are allowed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.49 & 50/Srt/2021 Assessment Years: (2010-11 & 2011-12) (Virtual Court Hearing) Mahotsav Creation Pvt. Ltd., Vs. Principal Commissioner Of 101-102, 1St Floor, Sakar Textile Income-Tax-1, Aayakar Bhawan, Market, Ring Road, Surat-395002. Majura Gate, Surat-395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaecm2394Q (Appellant) (Respondent) Assessee By Shri Hardik Vora, Advocate Respondent By Shri H. P. Meena, Cit(Dr) Date Of Hearing 28/06/2022 22/08/2022 Date Of Pronouncement

68 of the Act. It is also noted that in spite of repeated request, the Ld. Assessing Officer did not provide opportunity to cross examine the concerned persons and even the relevant information and allegation, if any, made therein, which has been used against the assessee, was not provided to the assessee. At this stage, we add here that mere

THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3,, SURAT vs. M/S. HAPPY HOME CORPORATION,, SURAT

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

Section 68 regarding the genuineness of the transaction, stands fully satisfied by the assessee. 7.4 Now coming to the 3rd condition regarding the creditworthiness of the depositors, it is seen that out of the total loans of Rs. 1,83,56,149/-, an amount of Rs.1,63,38,904/- has been received from a single depositor viz. Smt. Binda

THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3,, SURAT vs. M/S. HAPPY HOME CORPORATION,, SURAT

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

Section 68 regarding the genuineness of the transaction, stands fully satisfied by the assessee. 7.4 Now coming to the 3rd condition regarding the creditworthiness of the depositors, it is seen that out of the total loans of Rs. 1,83,56,149/-, an amount of Rs.1,63,38,904/- has been received from a single depositor viz. Smt. Binda

BHARGAV BHARATBHAI PANDYA,SURAT vs. INCOME TAX OFFICE, WARD 2(1)(3), SURAT

In the result, ground No

Bench: Shri Pawan Singh(Physical Hearing) Bhargav Bharatbhai Pandya, I.T.O., 61, Shubham Row House, Near Ward-2(1)(3), Vs. Sarasswati School, Honey Park Surat. Road, Adajan, Surat-395009. Pan No. Bcwpp 1537 L Appellant/ Assessee Respondent/ Revenue

120 taxmann.com 171 held that the amendment made in the scheme of Section 50C(1), by inserting third proviso thereto and by enhancing tolerance band for variations between stated sale consideration vis a vis stamp duty valuation from 5 percent to 10 percent are effective from the date on which Section 50C, itself was introduced

THE ITO, WARD-1(1)(4),, SURAT vs. M/S. MEGA COLLECTION PVT. LTD.,, SURAT

In the result, appeal of the Revenue is dismissed

120,000 Narigara Soc. Puna Gam surat 12 Dharmendra AVMPA4106C 202, Payal app. Ankur 99,750 Atara Soc. A.K Road Surat 13 Hasmukhbh AHPPD6687A 202, Hariom Complex 3,000,000 ai Dobariya A.K Road Surat 14 Ketan AICPD6394C D-5, 403, Krishna 150,000 Dhanhani Township Varacha Surat 15 Poonam BAQPD0645G D-5, 403, Krishna 1,800,000 Dhanani Township

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

ITO, WARD-2(2)(4), SURAT vs. SHRI UMESH P BANSAL, SURAT

In the result, ground No.1 raised by the Revenue in ITA

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

120) and Rs.87,627/- (9.3% of Rs.9,42,226). Therefore, based on this factual position, as narrated above, we direct the assessing officer to make addition, in the hands of the assessee, to the tune of Rs. 4,16,948/- (Rs.3,29,324 + Rs.87,627). 19. In the result, ground No.2 raised by the assessee in ITA No.145/SRT/2020

UMESHKUMAR P BANSAL,SURAT vs. ITO, WARD-2(2)(4), SURAT

In the result, ground No.1 raised by the Revenue in ITA

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

120) and Rs.87,627/- (9.3% of Rs.9,42,226). Therefore, based on this factual position, as narrated above, we direct the assessing officer to make addition, in the hands of the assessee, to the tune of Rs. 4,16,948/- (Rs.3,29,324 + Rs.87,627). 19. In the result, ground No.2 raised by the assessee in ITA No.145/SRT/2020

ITO, WARD-2(2)(4), SURAT vs. SHRI UMESH P BANSAL, SURAT

In the result, ground No.1 raised by the Revenue in ITA

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

120) and Rs.87,627/- (9.3% of Rs.9,42,226). Therefore, based on this factual position, as narrated above, we direct the assessing officer to make addition, in the hands of the assessee, to the tune of Rs. 4,16,948/- (Rs.3,29,324 + Rs.87,627). 19. In the result, ground No.2 raised by the assessee in ITA No.145/SRT/2020

UMESHKUMAR P BANSAL,SURAT vs. ITO, WARD-2(2)(4), SURAT

In the result, ground No.1 raised by the Revenue in ITA

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

120) and Rs.87,627/- (9.3% of Rs.9,42,226). Therefore, based on this factual position, as narrated above, we direct the assessing officer to make addition, in the hands of the assessee, to the tune of Rs. 4,16,948/- (Rs.3,29,324 + Rs.87,627). 19. In the result, ground No.2 raised by the assessee in ITA No.145/SRT/2020