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

68 of the Act, therefore the question of applicability of section 115BBE of the Act, does not arise, hence we allow ground No.6 raised by the assessee. 32. In the result, assessee`s appeal in ITA No. 195/SRT/2022, is partly allowed in above terms. 33. Now we shall take Summarised and concise Grounds of appeal raised by the assessee

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

68 of the Act, therefore the question of applicability of section 115BBE of the Act, does not arise, hence we allow ground No.6 raised by the assessee. 32. In the result, assessee`s appeal in ITA No. 195/SRT/2022, is partly allowed in above terms. 33. Now we shall take Summarised and concise Grounds of appeal raised by the assessee

SHRI CHANDUBHAI PARSHOTTAMBHAI BORAD,SURAT vs. INCOME TAX OFFICER, WARD 3(3)(5), SURAT

In the result, ground No.2 of assessee’s appeal is partly allowed

Bench: Shri Pawan Singhआ.अ.सं./Ita No.143/Srt/2023 (Ay 2016-17) (Hearing In Physical Court) Chandubhai Parshottambhai Income Tax Officer, Borad, 162, 163, Akshardham Ward-3(3)(5), Surat, Vs Society, Sarthana, Jakatnaka, Aayakar Bhavan, Majura Varachha Road, Gate, Surat-395001 Surat-395006 Pan No: Ajfpb 2959 Q अपीलाथ"/Appellant ""थ" /Respondent

163, Akshardham Ward-3(3)(5), Surat, Vs Society, Sarthana, Jakatnaka, Aayakar Bhavan, Majura Varachha Road, Gate, Surat-395001 Surat-395006 PAN No: AJFPB 2959 Q अपीलाथ"/Appellant ""थ" /Respondent िनधा"रती की ओर से /Assessee by Shri Sapnesh R Sheth, CA राज" की ओर से /Revenue by Shri Vinod Kumar, Sr-DR अपील पंजीकरण/Appeal instituted on 24.02.2023 सुनवाई

SHYAM CORPORATION,SURAT vs. PR. CIT-2, SURAT

In the result, the appeals of the assessees (in ITA Nos

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita Nos.107 & 108/Srt/2020 ("नधा"रणवष" / Assessment Year:(2015-16) (Virtual Court Hearing) Shyam Corporation, Vs. The Pcit-2, Surat. S. No. 84/1, 885 Block No.137, T.P. No.58, F.P. No.38, B/H. Siddhivinayak Complex, Bamroli, Surat-394210. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acgfs7598M (Assessee) (Respondent) Shivam Enterprises, Vs. The Pcit-2, Surat. Tp. 43, Block No.50, Fp.30, At Post Bhimrad, Althan, Surat-395017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acdfs9748Q

68, section 69A, section 69B, section 69C or section 69D, at the rate of thirty per cent. Despite such facts and circumstances and specific provisions of law in section 115BBE(2) of the Act, Assessing Officer has completed assessment determining total at Rs.7,88,56,573/- and thereby allowing your erroneous claim to the tune

SHIVAM ENTERPRISE,ALTHAN vs. PR. CIT-2, SURAT

In the result, the appeals of the assessees (in ITA Nos

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita Nos.107 & 108/Srt/2020 ("नधा"रणवष" / Assessment Year:(2015-16) (Virtual Court Hearing) Shyam Corporation, Vs. The Pcit-2, Surat. S. No. 84/1, 885 Block No.137, T.P. No.58, F.P. No.38, B/H. Siddhivinayak Complex, Bamroli, Surat-394210. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acgfs7598M (Assessee) (Respondent) Shivam Enterprises, Vs. The Pcit-2, Surat. Tp. 43, Block No.50, Fp.30, At Post Bhimrad, Althan, Surat-395017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acdfs9748Q

68, section 69A, section 69B, section 69C or section 69D, at the rate of thirty per cent. Despite such facts and circumstances and specific provisions of law in section 115BBE(2) of the Act, Assessing Officer has completed assessment determining total at Rs.7,88,56,573/- and thereby allowing your erroneous claim to the tune

ACIT, CIRCLE-3(2), SURAT vs. M/S. RAJLAXMI INFRA, SURAT

In the result, this ground of appeal is dismissed

Bench: Shri Pawan Singh & Dr Arjun Lal Sainiआ.अ.सं./Ita No.163/Srt/2020 (Ay 2013-14) (Hearing In Physical Court) Assistant Commissioner Of M/S Rajlaxmi Infra Income-Tax, Circle-3(2), Room 64, Rajlaxmi Height, Vs No.410, Aayakar Bhawan, Singanpore Cosway Road, Majura Gate, Opp. Shradhhadeep Soc, Surat-395001 Surat-395004 Pan No. Aaofr 1095 C ""थ" /Respondent अपीलाथ"/Appellant

68, which is excessive by Rs.5.00 lakhs. (i) For the unsecured loan of Rs.75.00 lakh received from Hemantbhai P Patel, the assessee submitted that the creditor sold his agriculture land and filed copy of sale deed. From the bank account of lender, it is evident that he has received payment of Rs.50.00 lakhs each on 29.03.2012 and 04.4.2012 respectively. Thus

SHANTAI EXIM LTD.,,AHMEDABAD vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, SURAT

In the result, ITA.No.436/SRT/2018 of the Department is dismissed

Bench: Shri Bhavnesh Saini & Shri O.P. Meena

Section 68 is not attracted to amounts representing 18 ITA.Nos.273 & 436/SRT/2018 M/s. Shantai Exim Limited, Surat. purchases and thus, no addition could be made against the assessee”. Learned Counsel for the Assessee also relied upon Judgment of Hon’ble Gujarat High Court in the case of Pr. CIT vs., Tejua Rohitkumar Kapadia 94 taxmann.com 324 (Guj.) in which

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, SURAT vs. SHANTAI EXIM LTD.,, AHMEDABAD

In the result, ITA.No.436/SRT/2018 of the Department is dismissed

Bench: Shri Bhavnesh Saini & Shri O.P. Meena

Section 68 is not attracted to amounts representing 18 ITA.Nos.273 & 436/SRT/2018 M/s. Shantai Exim Limited, Surat. purchases and thus, no addition could be made against the assessee”. Learned Counsel for the Assessee also relied upon Judgment of Hon’ble Gujarat High Court in the case of Pr. CIT vs., Tejua Rohitkumar Kapadia 94 taxmann.com 324 (Guj.) in which

NEMLAXMI BOOK INDIA PVT. LTD. ,,SURAT vs. THE ACIT, CIRCLE-1,, SURAT

In the result, the appeal of Revenue is dismissed

Bench: Shri C.M.Garg & Shri O.P.Meenas आ.अ.सं./I. िनधा" अपीलाथ" Appellant V ""थ"/Respondent . . T.A No. रण N वष"/A O Y: 1 1167/Ahd/ 2009- Nemlaxmi Books V The Assistant 2014/Srt 10 India Pvt. Ltd., . Commissioner Of 602, International Income Tax, Circle – Trade Centre, 1, Surat. Majuragate, Ring Road, Surat – 395 002. Pan: Aaacn 7935N 2 1102/Ahd/ 2009- Deputy Commissioner V Nemlaxmi Books 2014/Srt 10 Of Income Tax, . India Pvt. Ltd., Circle -1, Surat. 602, International Trade Centre, Majuragate, Ring Road, Surat – 395 002. Pan: Aaacn 7935N Shri Hiren Vepari, Ca िनधा"रती क" ओर से /Assessee By Shri O.P.Meena, Sr.D.R राज"व क" ओर से /Revenue By 28-05-2018 सुनवाई क" तारीख/ Date Of Hearing: 05-06-2018 उ"ोषणा क" तारीख/Pronouncement On आदेश /O R D E R Per O. P. Meena, Accoutant Member: 1. These Are Cross Appeals By The Assessee & The Revenue Are Directed Against The Order Of Cit(A) Dated 28.01.2014 For The Page 2 Of 18 Nemlaxmi Books India (P) Ltd. Vs. Acit, Circle-1, Surat/I.T.A. No’S.1167 & 1102/Ahd/2014 A.Y. 2009-10

section 145(3) of the Act. After the rejecting the books of accounts, Page 4 of 18 Nemlaxmi Books India (P) Ltd. vs. ACIT, Circle-1, Surat/I.T.A. No’s.1167 & 1102/Ahd/2014 A.Y. 2009-10 the AO noticed that the gross profit ratio in the year under consideration was disclosed by the assessee at 11.50% as against the gross profit rate

THE DCIT, CIRCLE-1,, SURAT vs. M/S. NEMLAXMI BOOKS INDIA PVT. LTD.,, SURAT

In the result, the appeal of Revenue is dismissed

Bench: Shri C.M.Garg & Shri O.P.Meenas आ.अ.सं./I. िनधा" अपीलाथ" Appellant V ""थ"/Respondent . . T.A No. रण N वष"/A O Y: 1 1167/Ahd/ 2009- Nemlaxmi Books V The Assistant 2014/Srt 10 India Pvt. Ltd., . Commissioner Of 602, International Income Tax, Circle – Trade Centre, 1, Surat. Majuragate, Ring Road, Surat – 395 002. Pan: Aaacn 7935N 2 1102/Ahd/ 2009- Deputy Commissioner V Nemlaxmi Books 2014/Srt 10 Of Income Tax, . India Pvt. Ltd., Circle -1, Surat. 602, International Trade Centre, Majuragate, Ring Road, Surat – 395 002. Pan: Aaacn 7935N Shri Hiren Vepari, Ca िनधा"रती क" ओर से /Assessee By Shri O.P.Meena, Sr.D.R राज"व क" ओर से /Revenue By 28-05-2018 सुनवाई क" तारीख/ Date Of Hearing: 05-06-2018 उ"ोषणा क" तारीख/Pronouncement On आदेश /O R D E R Per O. P. Meena, Accoutant Member: 1. These Are Cross Appeals By The Assessee & The Revenue Are Directed Against The Order Of Cit(A) Dated 28.01.2014 For The Page 2 Of 18 Nemlaxmi Books India (P) Ltd. Vs. Acit, Circle-1, Surat/I.T.A. No’S.1167 & 1102/Ahd/2014 A.Y. 2009-10

section 145(3) of the Act. After the rejecting the books of accounts, Page 4 of 18 Nemlaxmi Books India (P) Ltd. vs. ACIT, Circle-1, Surat/I.T.A. No’s.1167 & 1102/Ahd/2014 A.Y. 2009-10 the AO noticed that the gross profit ratio in the year under consideration was disclosed by the assessee at 11.50% as against the gross profit rate

VIKAS AGARWAL,DADRA AND NAGAR HAVELI vs. ITO, WARD SILVASSA , SILVASSA

In the result, the appeal of the assessee is dismissed

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Pruseth

163 Taman 657 (Guj.) held that section 69A, on one side, gives authority to the AO to include value of property into income of assessee, but at the same time, gives respite by providing a chance to assessee to explain the source of income or explain the nature and acquisition of such property or convince the AO that

VIKAS AGARWAL,DADRA AND NAGAR HAVELI vs. ITO, WARD SILVASSA, SILVASSA

In the result, the appeal of the assessee is dismissed

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Pruseth

163 Taman 657 (Guj.) held that section 69A, on one side, gives authority to the AO to include value of property into income of assessee, but at the same time, gives respite by providing a chance to assessee to explain the source of income or explain the nature and acquisition of such property or convince the AO that

VIKAS AGARWAL,DADRA AND NAGAR HAVELI vs. ITO,WARD SILVASSA, SILVASSA

In the result, the appeal of the assessee is dismissed

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Pruseth

163 Taman 657 (Guj.) held that section 69A, on one side, gives authority to the AO to include value of property into income of assessee, but at the same time, gives respite by providing a chance to assessee to explain the source of income or explain the nature and acquisition of such property or convince the AO that

VIKAS AGARWAL,DADRA AND NAGAR HAVELI vs. ITO, WARD SILVASSA, SILVASSA

In the result, the appeal of the assessee is dismissed

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Pruseth

163 Taman 657 (Guj.) held that section 69A, on one side, gives authority to the AO to include value of property into income of assessee, but at the same time, gives respite by providing a chance to assessee to explain the source of income or explain the nature and acquisition of such property or convince the AO that

VIKAS AGARWAL,DADRA AND NAGAR HAVELI vs. ITO, WARD SILVASSA, SILVASSA

In the result, the appeal of the assessee is dismissed

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Pruseth

163 Taman 657 (Guj.) held that section 69A, on one side, gives authority to the AO to include value of property into income of assessee, but at the same time, gives respite by providing a chance to assessee to explain the source of income or explain the nature and acquisition of such property or convince the AO that

VIKAS AGARWAL,SILVASSA vs. ITO, WARD SILVASSA, SILVASSA

In the result, the appeal of the assessee is dismissed

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Pruseth

163 Taman 657 (Guj.) held that section 69A, on one side, gives authority to the AO to include value of property into income of assessee, but at the same time, gives respite by providing a chance to assessee to explain the source of income or explain the nature and acquisition of such property or convince the AO that

VIKAS AGARWAL,DADRA AND NAGAR HAVELI vs. ITO, SILVASSA WARD , SILVASSA

In the result, the appeal of the assessee is dismissed

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Pruseth

163 Taman 657 (Guj.) held that section 69A, on one side, gives authority to the AO to include value of property into income of assessee, but at the same time, gives respite by providing a chance to assessee to explain the source of income or explain the nature and acquisition of such property or convince the AO that

VIKAS AGARWAL,DADRA AND NAGAR HAVELI vs. ITO, WARD SILVASSA, SILVASSA

In the result, the appeal of the assessee is dismissed

Bench: Shri Dinesh Mohan Sinha & Shri Bijayananda Pruseth

163 Taman 657 (Guj.) held that section 69A, on one side, gives authority to the AO to include value of property into income of assessee, but at the same time, gives respite by providing a chance to assessee to explain the source of income or explain the nature and acquisition of such property or convince the AO that

SHRI GHANSHYAM DUNGARBHAI SUTARIYA,,SURAT vs. THE ACIT, CIRCLE-8,, SURAT

In the result, the appeal of the Assessee is dismissed

Bench: Shri H.S. Sidhu & Shri O.P. Meenaassessment Year: 2009-10 Ghanshyam Dungarbhai Sutaria, Vs. Acit, Circle-8, H.No. 1, 1St Floor, Sahaj Park Row Surat House, Hira Baug Circle, Vallabhacharya Road, Near Kailashdham Society, Ashwanikumar Road, Surat-395008 (Pan: Akkpp9318E) (Appellant) (Respondent)

163 ITR 487 > F.C. Agarwal Vs CIT (Gauhati) 102 ITR 408 > CIT Vs J.K.A. Subramania Chettiar (Mad) 110 ITR 602 > Ravi & Co. Vs ACIT (Mad) 271 ITR 286 5.3 It is an obligatory duty cast upon income derived from any source under various heads and indicate the income under each head, which is chargeable to income-tax, after making