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.

195]. 34. We have heard both the parties and perused the material available on record, we note that according to section 68

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

195]. 34. We have heard both the parties and perused the material available on record, we note that according to section 68

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

THE ITO, WARD-2(2)(4),, SURAT vs. M/S. PANKAJ ENKA PVT. LTD.,, SURAT

195 allowed the appeal by holding -that share capital/premium of Rs. 24,00,000/- received from the investors was not liable to be treated under Section 68

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

Section 68 of the Act both before and after the adding of the proviso. 11. Your Honour's attention is invited to the landmark ruling of Supreme Court in case of CIT Vs. Lovely Exports (P.) Ltd [2008] 216 CTR 195

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

Section 68 of the Act both before and after the adding of the proviso. 11. Your Honour's attention is invited to the landmark ruling of Supreme Court in case of CIT Vs. Lovely Exports (P.) Ltd [2008] 216 CTR 195

INCOME-TAX OFFICER, WARD-1(1)(3) SURAT vs. MEGA COLLECTIONS PVT LTD, SURAT

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.311/Srt/2022 "नधा"रणवष"/Assessment Year: (2013-14) (Physical Hearing) The Ito, Ward-1(1)(3), Vs. Mega Collections Pvt. Ltd., Surat. 38-39, Kamla Estate, Gitanjali Petrol Pump, Varachha Road, Surat – 395009. (Appellant)/(Revenue) (Respondent)/(Assessee) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aagcm3809C

section 68 of the Income Tax Act, 1961. 12. Aggrieved by the order of the Assessing Officer, the assessee carried the matter in appeal before the ld. CIT(A) who has deleted the addition made by the Assessing Officer observing as follows: “4.12 On perusal of facts, it is noticed that the identity of all the creditors was established

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

THE ITO, WARD -2(2)(2),, SURAT vs. SMT. HANSABEN BIPIINKUMAR KOTHARI,, SURAT

In the result, appeal of the Revenue is dismissed

Bench: Shri Sandeep Gosain & Shri O.P.Meenaआ.अ.सं./I.T.A No.613/Ahd/2016 "नधा"रण वष"/Assessment Year: 2012-13 The Income Tax Officer, Vs. Smt.Hansaben Bipinkumar Kothari, Ward-2(2)(2), Surat. 806-C, Kanaknidhi Apartment, Timliawad, Nanpura, Surat. [Pan: Adgpk 1894 D] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओरसे /Assessee By Shri Sapnesh Sheth – Ca राज"वक"ओरसे /Revenue By Shri Sreenivas T.Bidari – Cit-Dr

Section 68 of the Act, held that it is not the burden of the Assessee to prove the genuineness of the transactions between his creditor and sub-creditors nor is it the burden of the Assessee to prove that the sub-creditor had the creditworthiness to advance the cash credit to the creditor from whom the cash credit

AMRUT SAROVAR,SURAT vs. PR. COMMISIONER INCOME TAX(CENTRAL), SURAT

In the result the grounds of appeal raised by the assessee in all three assessment years are allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

195 of the Finance Act, 2016 except provision of Chapter XV, Section 119, Section 138 and section 189 of the Income Tax Act. The ld AR for the assessee submits that the assessment order in accepting the contention is not erroneous or legally unsustainable. 13. On the fourth issue identified by ld PCIT, which relates

AMRUT SAROVAR,SURAT vs. PR. COMMISIONER INCOME TAX(CENTRAL), SURAT

In the result the grounds of appeal raised by the assessee in all three assessment years are allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

195 of the Finance Act, 2016 except provision of Chapter XV, Section 119, Section 138 and section 189 of the Income Tax Act. The ld AR for the assessee submits that the assessment order in accepting the contention is not erroneous or legally unsustainable. 13. On the fourth issue identified by ld PCIT, which relates

AMRUT SAROVAR,SURAT vs. PR. COMMISIONER INCOME TAX(CENTRAL), SURAT

In the result the grounds of appeal raised by the assessee in all three assessment years are allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

195 of the Finance Act, 2016 except provision of Chapter XV, Section 119, Section 138 and section 189 of the Income Tax Act. The ld AR for the assessee submits that the assessment order in accepting the contention is not erroneous or legally unsustainable. 13. On the fourth issue identified by ld PCIT, which relates

DCIT, CIRCLE-1(1)(2), SURAT vs. J K PAPER LTD, SURAT

In the result, all these three appeals of the Revenue are dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

68,686/- Deleted/Allowed u/s 80IA 8. Out of commission paid to Rs. 4,20,000/- Deleted/Allowed Directors 9. Out of commission of sales Rs. 18,90,000/- Deleted/Allowed 10. Out of Misc. Expenses Rs. 1,88,95,000/- Deleted/Allowed 11. Out of Employees welfare Rs. 90,90,000/- Deleted/Allowed expenses 12. Income from deployment

DCIT, CIRCLE-1(1)(1), SURAT, SURAT vs. M/S. J K PAPER LIMITED, SURAT

In the result, all these three appeals of the Revenue are dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

68,686/- Deleted/Allowed u/s 80IA 8. Out of commission paid to Rs. 4,20,000/- Deleted/Allowed Directors 9. Out of commission of sales Rs. 18,90,000/- Deleted/Allowed 10. Out of Misc. Expenses Rs. 1,88,95,000/- Deleted/Allowed 11. Out of Employees welfare Rs. 90,90,000/- Deleted/Allowed expenses 12. Income from deployment

DCIT, CIRCLE-1(1)(2), SURAT vs. J K PAPER LTD, SURAT

In the result, all these three appeals of the Revenue are dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

68,686/- Deleted/Allowed u/s 80IA 8. Out of commission paid to Rs. 4,20,000/- Deleted/Allowed Directors 9. Out of commission of sales Rs. 18,90,000/- Deleted/Allowed 10. Out of Misc. Expenses Rs. 1,88,95,000/- Deleted/Allowed 11. Out of Employees welfare Rs. 90,90,000/- Deleted/Allowed expenses 12. Income from deployment

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 of the Act. There is no evidence on record to indicate that assessee has given cash to the lender. The Ld. CIT(A) by referring the decision of Hon'ble jurisdictional High Court in the case of Ranchhod Jivabhai Nakhava (supra) deleted the addition of Rs.75.00 lakh received from Shri Hemantbhai P Patel. For loan received from Kamdhenu Developers

M/S. SHASHVAT JEWELS PVT. LTD.,,SURAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, SURAT

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

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No3364/Ahd/2016 िनधा"रण वष"/Assessment Year:2007-08 M/S. Shashvat Jewels Pvt. Deputy Commissioner Of Ltd., Income-Tax, 6/1468, Shashvat House, Circle-2(1)(2) Surat Kansara Street, Mahidharpura, Surat 395003 Pan:Aajcs 9790D अपीलाथ" Appellant ""यथ"/Respondent

68 of the Act. The AO has ignored the notice under section 133(6) on 06.02.2015 to both parties and filing by them confirmatory letters, which are on record. The assessee has also requested the cross examination of Shri Bhanwarlal M. Jain right from beginning, but same was not allowed, on the contrary pressurized the assessee to produce