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

68,86,710 5,42,27,490 43,74,79,184 Net Receipts from Land Plotting Expenses Land & Development Expenses 22,87,55,972 10,40,04,790 4,66,26,440 37,93,87,202 Administrative & Indirect Expenses 74,36,218 87,53,772 1,69,27,244 3,31,17,234 Total Expenses

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

ALPESH UMESHCHANDRA,SURAT vs. ITO WARD-1(2) (1), SURAT

The appeal of the assessee is allowed

Bench: Dr. Brr Kumar & Ms. Suchitra Kamble

68 of the Act. The PCIT observed that the Assessing Officer has not initiated penalty under Section 271(1)(c) and initiated penalty under Section 270A of the Act. The show cause notice under Section 263 dated 05.03.2024 was issued and served upon the assessee. The assessee has not filed any reply, therefore, the PCIT directed

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

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

c) Kesuprabat; Goswami In this case, the assessee has received Rs. 5,00,000/- as loan from Keshuparbaf Goswami HUF & paid interest of Rs. 76,833/-(after making TDS) to individual & Rs. 50,925/- to HUF. In support of explanation in respect of nature & source of deposits, the assessee has furnished the following documents- (j) Account Confirmation. (ii) Balanbe Sheet

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

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

c) Kesuprabat; Goswami In this case, the assessee has received Rs. 5,00,000/- as loan from Keshuparbaf Goswami HUF & paid interest of Rs. 76,833/-(after making TDS) to individual & Rs. 50,925/- to HUF. In support of explanation in respect of nature & source of deposits, the assessee has furnished the following documents- (j) Account Confirmation. (ii) Balanbe Sheet

SURESHBHAI BALUBHAI ASODARIYA,SURAT vs. PR. CIT (CENTRAL)CIRCLE, SURAT, SURAT

In the result, this appeal of assessee is dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

275 (Mum Trib) (27) Narayan Tatu Rane Vs ITO 70 taxmann.com 227 (Mum-Trib) (28) Torrent Pharmaceuticals Ltd. Vs DCIT (2018) 173 ITD 130 (Ahd Trib). 11. On the other hand, the ld. CIT-DR for the revenue supported the order of ld. Pr.CIT. The ld. CIT-DR submits that in response to notice under Section 153A

SURESHBHAI BALUBHAI ASODARIYA,SURAT vs. PR. CIT (CENTRAL)CIRCLE, SURAT, SURAT

In the result, this appeal of assessee is dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

275 (Mum Trib) (27) Narayan Tatu Rane Vs ITO 70 taxmann.com 227 (Mum-Trib) (28) Torrent Pharmaceuticals Ltd. Vs DCIT (2018) 173 ITD 130 (Ahd Trib). 11. On the other hand, the ld. CIT-DR for the revenue supported the order of ld. Pr.CIT. The ld. CIT-DR submits that in response to notice under Section 153A

SURESHBHAI BALUBHAI ASODARIYA,SURAT vs. PR. CIT (CENTRAL)CIRCLE, SURAT, SURAT

In the result, this appeal of assessee is dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

275 (Mum Trib) (27) Narayan Tatu Rane Vs ITO 70 taxmann.com 227 (Mum-Trib) (28) Torrent Pharmaceuticals Ltd. Vs DCIT (2018) 173 ITD 130 (Ahd Trib). 11. On the other hand, the ld. CIT-DR for the revenue supported the order of ld. Pr.CIT. The ld. CIT-DR submits that in response to notice under Section 153A

SURESHBHAI BALUBHAI ASODARIYA,SURAT vs. PR. CIT (CENTRAL)CIRCLE, SURAT, SURAT

In the result, this appeal of assessee is dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

275 (Mum Trib) (27) Narayan Tatu Rane Vs ITO 70 taxmann.com 227 (Mum-Trib) (28) Torrent Pharmaceuticals Ltd. Vs DCIT (2018) 173 ITD 130 (Ahd Trib). 11. On the other hand, the ld. CIT-DR for the revenue supported the order of ld. Pr.CIT. The ld. CIT-DR submits that in response to notice under Section 153A

SURESHBHAI BALUBHAI ASODARIYA,SURAT vs. PR. CIT (CENTRAL)CIRCLE, SURAT, SURAT

In the result, this appeal of assessee is dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

275 (Mum Trib) (27) Narayan Tatu Rane Vs ITO 70 taxmann.com 227 (Mum-Trib) (28) Torrent Pharmaceuticals Ltd. Vs DCIT (2018) 173 ITD 130 (Ahd Trib). 11. On the other hand, the ld. CIT-DR for the revenue supported the order of ld. Pr.CIT. The ld. CIT-DR submits that in response to notice under Section 153A

SURESHBHAI BALUBHAI ASODARIYA,SURAT vs. PR. CIT (CENTRAL)CIRCLE, SURAT, SURAT

In the result, this appeal of assessee is dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

275 (Mum Trib) (27) Narayan Tatu Rane Vs ITO 70 taxmann.com 227 (Mum-Trib) (28) Torrent Pharmaceuticals Ltd. Vs DCIT (2018) 173 ITD 130 (Ahd Trib). 11. On the other hand, the ld. CIT-DR for the revenue supported the order of ld. Pr.CIT. The ld. CIT-DR submits that in response to notice under Section 153A

SURESHBHAI BALUBHAI ASODARIYA,SURAT vs. PR. CIT (CENTRAL)CIRCLE, SURAT, SURAT

In the result, this appeal of assessee is dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

275 (Mum Trib) (27) Narayan Tatu Rane Vs ITO 70 taxmann.com 227 (Mum-Trib) (28) Torrent Pharmaceuticals Ltd. Vs DCIT (2018) 173 ITD 130 (Ahd Trib). 11. On the other hand, the ld. CIT-DR for the revenue supported the order of ld. Pr.CIT. The ld. CIT-DR submits that in response to notice under Section 153A

MUKESH KEDIA HUF,AHMEDABAD vs. PCIT-1, SURAT

In the result, the appeal of the assessee is dismissed

Bench: Shri Siddhartha Nautiyal & Shri Bijayananda Pruseth

68 of the Act. However, in the instant case, the assessing officer initiated penalty proceedings under section u/s 271(1)(c) of the Act, due to non-application of mind and incorrect Mukesh Kedia-HUF vs. PCIT Asst. Year –2017-18 - 3– application of legal provisions, thereby resulting in a revenue loss of ₹6,10,275

M/S. NAZAR IMPEX PVT. LTD.,,SURAT vs. THE ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-4,, SURAT

In the result, appeals filed by the assessee (in IT(SS)A No

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No. 1367/Ahd/2017 ("नधा"रणवष" / Assessment Years: ( 2014-15) (Virtual Court Hearing) Sanjay Kumar Choudhary (Huf), Vs. The Acit, Central Circle-4, (Prop. M/S. Mayank Impex), Surat. C/O. 408, Saryu Diamond Complex, Jaddakhadi Mahidharpura, Surat-395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqhs5732R (Appellant) (Respondent) आयकरअपीलसं./Ita No. 1365/Ahd/2017 ("नधा"रणवष" / Assessment Years: ( 2014-15) (Virtual Court Hearing) M/S. Nazar Impex Pvt. Ltd., The Acit, Central Circle-4, Vs. C/O. 408, Saryu Diamond Complex, Surat. Jaddakhadi, Mahidharpura, Surat-395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaccn3603R (Appellant) (Respondent) आयकरअपीलसं./It(Ss)A Nos.340 To 343/Ahd/2017 ("नधा"रणवष" / Assessment Years: (2009-10 To 2012-13) (Virtual Court Hearing) Moulimani Impex Pvt. Ltd., Vs. The Dcit, Central Circle-4, C-805, Oberoi Splendor, Opp. Majas Surat. Depot, Jvlr, Jogeshwari (East) Mumbai-400060. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aadcm4913C (Appellant) (Respondent) आयकरअपीलसं./It(Ss)A Nos.347 To 351/Ahd/2017 ("नधा"रणवष" / Assessment Years: (2009-10 To 2013-14) (Virtual Court Hearing) Anoop Yogendra Jain, Vs. The Dcit, Central Circle-4, 406, Saryu Chambers, 4T H Floor, Surat. Jadakhadi, Mahidharpura, Surat-395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahopj3837B (Appellant) (Respondent)

68 and my personal savings 2. 302, Nishit Rajendra 250 Rs. 2.50 lacs in 2005 From Business Diamond S. Jain Income Complex, Mahidharpura, Surat Q.38 Please furnish the particulars of your income through these operations of accommodation entries/ bill shopping? Ans. We get only commission income at the rate of 0.2% on the value of import from the real importer

M/S. SUN DIAM,,MUMBAI vs. THE DY. CIT, CENTRAL CIRCLE-4,, SURAT

In the result, appeals filed by the assessee (in IT(SS)A No

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No. 1367/Ahd/2017 ("नधा"रणवष" / Assessment Years: ( 2014-15) (Virtual Court Hearing) Sanjay Kumar Choudhary (Huf), Vs. The Acit, Central Circle-4, (Prop. M/S. Mayank Impex), Surat. C/O. 408, Saryu Diamond Complex, Jaddakhadi Mahidharpura, Surat-395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqhs5732R (Appellant) (Respondent) आयकरअपीलसं./Ita No. 1365/Ahd/2017 ("नधा"रणवष" / Assessment Years: ( 2014-15) (Virtual Court Hearing) M/S. Nazar Impex Pvt. Ltd., The Acit, Central Circle-4, Vs. C/O. 408, Saryu Diamond Complex, Surat. Jaddakhadi, Mahidharpura, Surat-395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaccn3603R (Appellant) (Respondent) आयकरअपीलसं./It(Ss)A Nos.340 To 343/Ahd/2017 ("नधा"रणवष" / Assessment Years: (2009-10 To 2012-13) (Virtual Court Hearing) Moulimani Impex Pvt. Ltd., Vs. The Dcit, Central Circle-4, C-805, Oberoi Splendor, Opp. Majas Surat. Depot, Jvlr, Jogeshwari (East) Mumbai-400060. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aadcm4913C (Appellant) (Respondent) आयकरअपीलसं./It(Ss)A Nos.347 To 351/Ahd/2017 ("नधा"रणवष" / Assessment Years: (2009-10 To 2013-14) (Virtual Court Hearing) Anoop Yogendra Jain, Vs. The Dcit, Central Circle-4, 406, Saryu Chambers, 4T H Floor, Surat. Jadakhadi, Mahidharpura, Surat-395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahopj3837B (Appellant) (Respondent)

68 and my personal savings 2. 302, Nishit Rajendra 250 Rs. 2.50 lacs in 2005 From Business Diamond S. Jain Income Complex, Mahidharpura, Surat Q.38 Please furnish the particulars of your income through these operations of accommodation entries/ bill shopping? Ans. We get only commission income at the rate of 0.2% on the value of import from the real importer

SHRI SANJAY KUMAR CHOUDHARY HUF,,SURAT vs. THE ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-4,, SURAT

In the result, appeals filed by the assessee (in IT(SS)A No

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No. 1367/Ahd/2017 ("नधा"रणवष" / Assessment Years: ( 2014-15) (Virtual Court Hearing) Sanjay Kumar Choudhary (Huf), Vs. The Acit, Central Circle-4, (Prop. M/S. Mayank Impex), Surat. C/O. 408, Saryu Diamond Complex, Jaddakhadi Mahidharpura, Surat-395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqhs5732R (Appellant) (Respondent) आयकरअपीलसं./Ita No. 1365/Ahd/2017 ("नधा"रणवष" / Assessment Years: ( 2014-15) (Virtual Court Hearing) M/S. Nazar Impex Pvt. Ltd., The Acit, Central Circle-4, Vs. C/O. 408, Saryu Diamond Complex, Surat. Jaddakhadi, Mahidharpura, Surat-395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaccn3603R (Appellant) (Respondent) आयकरअपीलसं./It(Ss)A Nos.340 To 343/Ahd/2017 ("नधा"रणवष" / Assessment Years: (2009-10 To 2012-13) (Virtual Court Hearing) Moulimani Impex Pvt. Ltd., Vs. The Dcit, Central Circle-4, C-805, Oberoi Splendor, Opp. Majas Surat. Depot, Jvlr, Jogeshwari (East) Mumbai-400060. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aadcm4913C (Appellant) (Respondent) आयकरअपीलसं./It(Ss)A Nos.347 To 351/Ahd/2017 ("नधा"रणवष" / Assessment Years: (2009-10 To 2013-14) (Virtual Court Hearing) Anoop Yogendra Jain, Vs. The Dcit, Central Circle-4, 406, Saryu Chambers, 4T H Floor, Surat. Jadakhadi, Mahidharpura, Surat-395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahopj3837B (Appellant) (Respondent)

68 and my personal savings 2. 302, Nishit Rajendra 250 Rs. 2.50 lacs in 2005 From Business Diamond S. Jain Income Complex, Mahidharpura, Surat Q.38 Please furnish the particulars of your income through these operations of accommodation entries/ bill shopping? Ans. We get only commission income at the rate of 0.2% on the value of import from the real importer

SACHIN PAREEK,SURAT vs. DCIT (CENTREL) CIRCLE-4,, SURAT

In the result, appeals filed by the assessee (in IT(SS)A No

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No. 1367/Ahd/2017 ("नधा"रणवष" / Assessment Years: ( 2014-15) (Virtual Court Hearing) Sanjay Kumar Choudhary (Huf), Vs. The Acit, Central Circle-4, (Prop. M/S. Mayank Impex), Surat. C/O. 408, Saryu Diamond Complex, Jaddakhadi Mahidharpura, Surat-395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqhs5732R (Appellant) (Respondent) आयकरअपीलसं./Ita No. 1365/Ahd/2017 ("नधा"रणवष" / Assessment Years: ( 2014-15) (Virtual Court Hearing) M/S. Nazar Impex Pvt. Ltd., The Acit, Central Circle-4, Vs. C/O. 408, Saryu Diamond Complex, Surat. Jaddakhadi, Mahidharpura, Surat-395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaccn3603R (Appellant) (Respondent) आयकरअपीलसं./It(Ss)A Nos.340 To 343/Ahd/2017 ("नधा"रणवष" / Assessment Years: (2009-10 To 2012-13) (Virtual Court Hearing) Moulimani Impex Pvt. Ltd., Vs. The Dcit, Central Circle-4, C-805, Oberoi Splendor, Opp. Majas Surat. Depot, Jvlr, Jogeshwari (East) Mumbai-400060. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aadcm4913C (Appellant) (Respondent) आयकरअपीलसं./It(Ss)A Nos.347 To 351/Ahd/2017 ("नधा"रणवष" / Assessment Years: (2009-10 To 2013-14) (Virtual Court Hearing) Anoop Yogendra Jain, Vs. The Dcit, Central Circle-4, 406, Saryu Chambers, 4T H Floor, Surat. Jadakhadi, Mahidharpura, Surat-395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ahopj3837B (Appellant) (Respondent)

68 and my personal savings 2. 302, Nishit Rajendra 250 Rs. 2.50 lacs in 2005 From Business Diamond S. Jain Income Complex, Mahidharpura, Surat Q.38 Please furnish the particulars of your income through these operations of accommodation entries/ bill shopping? Ans. We get only commission income at the rate of 0.2% on the value of import from the real importer

SHIVAM RESIDENTIAL CONSTRUCTION (INDIA) PVT. LTD.,VALSAD vs. PRINCIPAL COMMISSIONER OF INCOME TAX, VALSAD

In the result, appeal of the assessee is dismissed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.396/Srt/2018 ("नधा"रणवष" / Assessment Year: (2013-14) (Virtual Court Hearing) Shivam Residential Construction Principal Commissioner Of (India) Pvt. Ltd., New Civil Income-Tax-Valsad, Palak Vs. Hospital Road, Nanakwada, Valsad Arcade, Pali Hill, Santinagar, Tithal Road, Valsad-396001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aapcs 3137 G (Appellant) (Respondent) िनधा"रती की ओर से /Assessee By : Shri Milin Mehta, C.A राज"व क" ओर से /Respondent By: Shri Ashish Pophare, Cit-D.R

275/- debited to P & L A/c, it is seen that the above expenses includes Rs.2,00,00,000/- towards provision for various future expenses of Sharvaanee site. Since, the above expense was made towards the provision future expenses & thus, not allowable us/ 37 of the I T Act. However, A.O had allowed the same. 6.Apart from the above