RAJGREEN INFRALINK LLP,SURAT vs. DY. COMMISSIONER OF INCOME TAX, CIRCLE - 1(3), SURAT

In the result, the ground No

Bench: Shri Pawan Singh & Dr Arjun Lal Sainiआ.अ.सं./Ita No.257 & 375/Srt/2023 (Ay 2018-19) (Hearing In Physical Court) Rajgreen Infralink Llp Deputy Commissioner Of 29-30, Sai Baba Shraddha Nagar, Income Tax, Circle-1(3) Nr. Choksi Wadi, New Rander Road, Surat, Aaykar Bhavan, Adajan, Surat-395009 Majura Gate, Surat-395001 Pan No. Aavfr 8064 N Assistant Commissioner Of Income- Rajgreen Infralink Llp Vs Tax, Circle-1(3), Surat, Room No. 29-30, Sai Baba Shraddha 301, 3Rd Floor, Anavil Business Nagar, Nr. Choksi Wadi, Centre, Hazira Road, Adajan, New Rander Road, Adajan, Surat-395009 Surat-395009 Pan No. Aavfr 8064 N अपीलाथ"/Appellant ""थ" /Respondent

68 of Rs.26.42 crores. The ld. CIT(A) while giving his finding categorised the lenders in three tables; in table-1, the Ld. CIT(A) considered the loan received from Amba V. Pandav, Bharat Ghoghari and Jyotshna Ghoghari of Rs.5.00 lakh each and noted that all three persons have filed their ITRs by showing taxable income below Rs.2.50 lakhs

DCIT, CIRCLE-2(1)(1), SURAT vs. M/S. R K SHAH PROJECTS PVT. LTD, SURAT

In the result, ground no.2 raised by the Revenue is allowed for statistical purposes

Bench: Shri Pawan Singh, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.55/Srt/2020 (िनधा"रण वष" / Assessment Year: (2013-14) (Physical Court Hearing) Deputy Commissioner Of Income M/S R.K.Shah Projects Pvt. Ltd., 1St Floor, Aditya Complex, Nr. Tax., Circle-2(1)(1), Room No.216, Vs. Kapadia Health Club, Bhatar Road, 2Nd Floor, Aayakar Bhavan, Majura Surat-395007 Gate, Surat-395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcr 8584 Q (Appellant ) (Respondent)

214 ITR 801) (SC), The Apex Court held that where any sums found credited in the books of the assessee in any previous year, by virtue of 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)

68 as it stood in the statute before its amendment w.e.f A.Y. 2013-2014.If there is sufficient bank balance before issuing the amount to the assessee company for investing in the shares, then there is hardly any scope left to doubt the genuineness of the funds. Moreover, it is to be appreciated that the companies have reasonably good amount of balances

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 143(3) r.w.s. 147 ITA Nos.552 & 882/SRT/2024 (A.Y.11-12) Rambilash R Jajoo & Sunita Jajoo of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) both on 26.12.2018. In both the appeal the assessees have raised certain common grounds of appeal, certain facts are also similar, thus, with the consent of the parties, both the appeals were clubbed

HARISHBHAI G. CHOVATIYA,SARTHANA, SURAT vs. INCOME TAX OFFICER, WARD 3(3)(1), SURAT

In the result, the appeal of the assessee is allowed

Bench: Shri Pawan Singhआ.अ.सं./Ita No.486/Srt/2023 (Ay 2016-17) (Hearing In Physical Court) Harishbhai G Chovatiya Income Tax Officer, 18, Bapa Sitaram Row House, Ward-3(3)(1), Surat, Vs Kamrej Road, Aayakar Bhavan, Sarthana, Majura Gate, Surat- 394101 Surat-395001 Pan No: Agdpc 6539 M अपीलाथ"/Appellant ""थ" /Respondent

section 68. The assessee further submitted that cash-in-hand was generated out of loan availed from bank accounts and the source was established. The assessee has obtained a loan of Rs.36.00 lakh which was disbursed in bank account No. 34670600000548 and Rs.8,85,000/-from bank account No.5429010001295 respectively. The said loan amount was transferred to saving bank

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

In the result, assessee's appeal is allowed

section 143(3) r.w.s. 147\nof the Income Tax Act, 1961 (hereinafter referred to as 'the Act') both on\n26.12.2018. In both the appeal the assessees have raised certain common\ngrounds of appeal, certain facts are also similar, thus, with the consent of the\nparties, both the appeals were clubbed, heard together and are decided by\ncommon order

VISHWAS BUILDERS,OPERA PALACE vs. ACIT, CIR 2(2), SURAT, MAJURAGATE, SURAT

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

Bench: Shri Sandeep Gosain () & Shri Om Prakash Kant () Assessment Year: 2017-2018 Vishwas Builders, Acit, Cir 2(2), Laskana Kholvad Road, Aaykar Bhavan, Gujarat-395004. Vs. Majuragate, Surat-395001. Pan No. Aakfv 9174 A Appellant Respondent

68 of the Act on account of unexplained cash deposits is sustainable. deposits is sustainable. 5.1 The Assessing Officer observed deposit of the cash of The Assessing Officer observed deposit of the cash of The Assessing Officer observed deposit of the cash of maintained by the Rs.1,56,00,000/- in the in the two bank accounts main assessee firm

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 I.T.Act provides that where any sum is found credited on the books of assessee maintained for any year, and the assessee offers no explanation about the nature and source thereof or the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory, the sum so credited may be charged to income

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

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

section 115BBE is also incorrect, as the additions are\nrelate to business income arising from the real estate project. Thus\nthe Grounds raised by the assessee are allowed.\n13. In the result the appeal filed by the assessee in ITA No.\n476/SRT/2023 is allowed.\nITA No.531/Ahd/2023 for A.Y. 2018-19\n14. The Grounds of Appeal raised by the Revenue

AMRITA GEM PVT. LTD.,,SURAT vs. INCOME TAX OFFICER, WARD - 1(1)(1), SURAT

In the result, ground No. 1& 2 of the appeal are allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Virtual Hearing) Amrita Gem Pvt. Ltd., I.T.O. 405, Devratna Apartment, Char Ward-1(1)(1), Vs. Khana Chakla, Rampura Main Road, Surat. Surat-395006 (Gujarat) Pan No. Aahca 8682 J Appellant/ Assessee Respondent/ Revenue

Section 115BBE of the Act. Further aggrieved, the assessee has filed present appeal before the Tribunal. 7. We have heard the submissions of the learned Authorised Representative (ld. AR) of the assessee and the learned Senior Departmental Representative (ld. Sr. DR) for the revenue. The ld. AR of the assessee submits that the assessee is in the business

M/S. MEGA AIMS,BHARUCH vs. ITO, WARD-1(3), BHARUCH

In the result, appeals filed by the Revenue (ITA Nos

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.722 To 723/Srt/2018 Assessment Years: (2013-14 To 2014-15) (Physical Hearing) The Dcit, Circle-1, Vs. M/S. Mega Aims, Bharuch. B-1, Gokuldham Complex, Dahej By – Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) आयकर अपील सं./Ita Nos.750 To 751/Srt/2018 Assessment Years: (2013-14 To 2014-15) M/S. Mega Aims, Vs. The Acit, Circle-1, B-1, Gokuldham Complex, Dahej By – Bharuch. Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) Shri Ashish Pophare, Cit(Dr) Appellant By Respondent By Shri P. M. Jagasheth, Ca Date Of Hearing 23/02/2023 Date Of Pronouncement 30/03/2023

68 would not apply. We find that ITA. 722-723 & 750-751/SRT/2018/AYs.2013-14 to 2014-15 M/s. Mega Aims Hon’ble Jurisdictional High Court in CIT Vs. Ayachi Chandrashekhar Narsangji (supra), though, on the context of repayment of loan in subsequent year, also held that when the department had accepted repayment of loan in subsequent years, no addition

DEPUTY COMMISSIONER OF INCOME TAX, BHARUCH CIRCLE-1, BHARUCH vs. M/S. MEGA AIMS, BHARUCH

In the result, appeals filed by the Revenue (ITA Nos

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.722 To 723/Srt/2018 Assessment Years: (2013-14 To 2014-15) (Physical Hearing) The Dcit, Circle-1, Vs. M/S. Mega Aims, Bharuch. B-1, Gokuldham Complex, Dahej By – Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) आयकर अपील सं./Ita Nos.750 To 751/Srt/2018 Assessment Years: (2013-14 To 2014-15) M/S. Mega Aims, Vs. The Acit, Circle-1, B-1, Gokuldham Complex, Dahej By – Bharuch. Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) Shri Ashish Pophare, Cit(Dr) Appellant By Respondent By Shri P. M. Jagasheth, Ca Date Of Hearing 23/02/2023 Date Of Pronouncement 30/03/2023

68 would not apply. We find that ITA. 722-723 & 750-751/SRT/2018/AYs.2013-14 to 2014-15 M/s. Mega Aims Hon’ble Jurisdictional High Court in CIT Vs. Ayachi Chandrashekhar Narsangji (supra), though, on the context of repayment of loan in subsequent year, also held that when the department had accepted repayment of loan in subsequent years, no addition

DEPUTY COMMISSIONER OF INCOME TAX, BHARUCH CIRCLE-1, BHARUCH vs. M/S. MEGA AIMS, BHARUCH

In the result, appeals filed by the Revenue (ITA Nos

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.722 To 723/Srt/2018 Assessment Years: (2013-14 To 2014-15) (Physical Hearing) The Dcit, Circle-1, Vs. M/S. Mega Aims, Bharuch. B-1, Gokuldham Complex, Dahej By – Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) आयकर अपील सं./Ita Nos.750 To 751/Srt/2018 Assessment Years: (2013-14 To 2014-15) M/S. Mega Aims, Vs. The Acit, Circle-1, B-1, Gokuldham Complex, Dahej By – Bharuch. Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) Shri Ashish Pophare, Cit(Dr) Appellant By Respondent By Shri P. M. Jagasheth, Ca Date Of Hearing 23/02/2023 Date Of Pronouncement 30/03/2023

68 would not apply. We find that ITA. 722-723 & 750-751/SRT/2018/AYs.2013-14 to 2014-15 M/s. Mega Aims Hon’ble Jurisdictional High Court in CIT Vs. Ayachi Chandrashekhar Narsangji (supra), though, on the context of repayment of loan in subsequent year, also held that when the department had accepted repayment of loan in subsequent years, no addition

M/S. MEGA AIMS,BHARUCH vs. ACIT, CIRCLE-1, BHARUCH

In the result, appeals filed by the Revenue (ITA Nos

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.722 To 723/Srt/2018 Assessment Years: (2013-14 To 2014-15) (Physical Hearing) The Dcit, Circle-1, Vs. M/S. Mega Aims, Bharuch. B-1, Gokuldham Complex, Dahej By – Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) आयकर अपील सं./Ita Nos.750 To 751/Srt/2018 Assessment Years: (2013-14 To 2014-15) M/S. Mega Aims, Vs. The Acit, Circle-1, B-1, Gokuldham Complex, Dahej By – Bharuch. Pass Road, Bharuch. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqfm1615F (Appellant) (Respondent) Shri Ashish Pophare, Cit(Dr) Appellant By Respondent By Shri P. M. Jagasheth, Ca Date Of Hearing 23/02/2023 Date Of Pronouncement 30/03/2023

68 would not apply. We find that ITA. 722-723 & 750-751/SRT/2018/AYs.2013-14 to 2014-15 M/s. Mega Aims Hon’ble Jurisdictional High Court in CIT Vs. Ayachi Chandrashekhar Narsangji (supra), though, on the context of repayment of loan in subsequent year, also held that when the department had accepted repayment of loan in subsequent years, no addition

INCOME TAX OFFICER, WARD-2(3)(1), SURAT, SURAT vs. MANIDHARA REALTY LLP, SURAT

In the result, the appeal of the Revenue is dismissed

Bench: Shri Pawan Singh & Shri Bijayananda Prusethआयकर अपील सं./Ita No.327/Srt/2024 Assessment Year: (2017-18) (Physical Court Hearing) Income Tax Officer Manidhara Realty Llp बनाम/ Ward-2(3)(1), Surat Room 501, International Business Centre, Vs. No.614, Aayakar Bhawan, Dumas Road, Piplod, Surat-395 0017 Majura Gate, Surat-395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Abcfm 2991 F (अपीलाथ"/Appellant) (""थ" /Respondent)

Section 68 of the Act that there existed surrounding circumstances and without applying the test of human probability as laid down in the case of Smt. Sumati Dayal vs. CIT (1995) 214

THE ASSTT. COMMISSIONER OF INCOME TAX, VAPI CIRCLE,, VAPI vs. M/S. WESTERN INDIA COSTRUCTION,, DAMAN

In the result, the appeal of the Revenue is partly allowed for statistical purposes

214 85,33,130 Nayar Sureshkumar 62,10,756 13,14,500 7,45,291 1,00,000 11,30,823 13,10,011 81,91,359 Nayar Total 1,27,50,061 24,56,000 15,30,007 2,00,000 22,61,646 24,73,225 1,67,24,489 Opening balance of current year is verified with

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 4 SURAT, SURAT vs. KISHORKUMAR DHIRAJLAL KATHROTIYA, SURAT

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

section 115BBE is also incorrect, as the additions are\nrelate to business income arising from the real estate project. Thus\nthe Grounds raised by the assessee are allowed.\n13. In the result the appeal filed by the assessee in ITA No.\n476/SRT/2023 is allowed.\nITA No.531/Ahd/2023 for A.Y. 2018-19\n14. The Grounds of Appeal raised by the Revenue

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, 4, SURAT vs. KISHORKUMAR DHIRAJLAL KATHROTIYA, SURAT

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

section 115BBE is also incorrect, as the additions are\nrelate to business income arising from the real estate project. Thus\nthe Grounds raised by the assessee are allowed.\n13. In the result the appeal filed by the assessee in ITA No.\n476/SRT/2023 is allowed.\nITA No.531/Ahd/2023 for A.Y. 2018-19\n14. The Grounds of Appeal raised by the Revenue