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.

section 153A of the Act seeks to assessee the total income for the assessment year, which is clear from the first proviso thereto which provides that the Assessing Officer shall assess or reassess the total income in respect of each assessment year falling within such six assessment years. The second proviso makes the intention of the legislature clear

KIRTIPRADA FASHIONS PVT. LTD.,SURAT vs. ITO, WARD -1(1)(3), SURAT

In the result, appeal of the assessee is allowed

56,24,679 2,54,43,572 3,42,27,572 2012-13 10,37,30,711 3,92,99,934 5,14,00,934 In view of rising turnover and profitability, charging of share premium @ Rs. 40 per share cannot at all be regarded as excessive. It is also pertinent to mention here that with increase in turnover

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)

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) िनधा"रती की ओर से /Assessee by : Shri Sapnesh R Seth, C.A राज"व क" ओर से /Respondent by : Shri Ashok B. Koli– CIT-DR सुनवाई की तारीख/ Date of Hearing : 18/01/2023

HITENDRASINH CHANDRASINH BAKROLA,SURAT vs. ITO, WARD 2(3)(2), SURAT

In the result, the appeal of the assessee is allowed

Bench: Dr. Brr Kumar, Hon’Ble & Ms. Suchitra Kambleassessment Year 2017-18

68 or Section 69 is not invokable because the deeming provisions of Section 68/69 and Section 56(2)(vii)(c) are mutually exclusive. The Department has not filed any CO against the findings of the Ld. CIT(A). It is contented that the provisions of Section 56(2)(vii)(c) is not applicable because the same

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

vii) Non-initiation of penalty under section 271B&271D of the Act ( in all three AYs),  (viii) Non-verification of loan availed from ManishbhaiSheladiya (in AY 2014-15 only). 4. The ld. PCIT recorded that the assessee was given opportunity of being heard on 05.03.2021 and on 12.03.2021, however, the assessee neither attended the hearing nor filed written submission

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

vii) Non-initiation of penalty under section 271B&271D of the Act ( in all three AYs),  (viii) Non-verification of loan availed from ManishbhaiSheladiya (in AY 2014-15 only). 4. The ld. PCIT recorded that the assessee was given opportunity of being heard on 05.03.2021 and on 12.03.2021, however, the assessee neither attended the hearing nor filed written submission

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

vii) Non-initiation of penalty under section 271B&271D of the Act ( in all three AYs),  (viii) Non-verification of loan availed from ManishbhaiSheladiya (in AY 2014-15 only). 4. The ld. PCIT recorded that the assessee was given opportunity of being heard on 05.03.2021 and on 12.03.2021, however, the assessee neither attended the hearing nor filed written submission

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

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

vii) (viii) CIT v. Sahibganj Electric Cables (P) Ltd. 115 ITR 0408 (Cal) Dr. Rajesh Sqrdana v. ITO 86 TTJ Oil 6 (Del) (IX) 7.2 Now, after discharging bf the primary onus by the assessee, the AO needs to verify the fulfillment; of the 3 conditions of Section 68 and the 1st condition therein is the Identity

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

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

vii) (viii) CIT v. Sahibganj Electric Cables (P) Ltd. 115 ITR 0408 (Cal) Dr. Rajesh Sqrdana v. ITO 86 TTJ Oil 6 (Del) (IX) 7.2 Now, after discharging bf the primary onus by the assessee, the AO needs to verify the fulfillment; of the 3 conditions of Section 68 and the 1st condition therein is the Identity

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)

56 of the Act for proposing to tax excess securities premium is applicable from 01.04.2013 i.e. from and on 01.04.2013 and not retrospectively. Reliance is also placed on the following decisions:  CIT v/s. Anshika Consultants Pvt. Ltd. [62 taxmann.com 192] (Del.) (HC)  Green Infra Ltd. v/s. ITO [78 taxmann.com 340] (Bom.) (HC) Non – Applicability of judgment of NRA Iron & Steel

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

vii) The investor companies are registered with ROC and are active companies as per ROC records. (viii) PAN of Share applicants, Balance Sheet, profit and loss accounts. 12. Based on these documents and evidences, we note that assessing officer, during the assessment stage itself, has accepted M/s Rama Trade Link Pvt. Ltd., one of the ITA No.3050/AHD/2016

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

vii) Part of the specified bank notes (Cessation of Liabilities) Bill, 2017 (vide Pb.12 to 14) 10. The ld Counsel, thus stated that provisions of section 69A of the Act are not applicable on deposits made post-demonetization since currency`s value guaranteed till December 31, 2016. For that ld Counsel relied on the Judgment of Coordinate Bench

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

vii) Part of the specified bank notes (Cessation of Liabilities) Bill, 2017 (vide Pb.12 to 14) 10. The ld Counsel, thus stated that provisions of section 69A of the Act are not applicable on deposits made post-demonetization since currency`s value guaranteed till December 31, 2016. For that ld Counsel relied on the Judgment of Coordinate Bench

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

vii) Part of the specified bank notes (Cessation of Liabilities) Bill, 2017 (vide Pb.12 to 14) 10. The ld Counsel, thus stated that provisions of section 69A of the Act are not applicable on deposits made post-demonetization since currency`s value guaranteed till December 31, 2016. For that ld Counsel relied on the Judgment of Coordinate Bench

THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(2),, SURAT vs. M/S. KEJRIWAL INDUSTRIES LTD.,, SURAT

In the result, the appeal of the Revenue is dismissed

Bench: Shri Sandeep Gosain & Shri O.P.Meena

56 persons, out of which 54 are based at Ranchi and remaining two are group concerns of the assessee. The AO had issued DCIT, Circle-1(1)(2), Surat Vs. Kejriwal Industries Ltd.,/ITA No.1509/AHD/2016 for A.Y. 2011-12 Page 4 of 49 commissions to DCIT, Circle-1, Ranchi and ACIT-TDS, Circle- Ranchi under section 131 (1

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIR.,2, SURAT vs. VIJAYBHAI MALABHAI BHARWAD, SURAT

In the result, ground no.2 raised by the assessee in ITA

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर(खोज-और-ज"ती)अपील सं/It(Ss)A Nos.23 & 24/Srt/2021 (Assessment Years: 2012-13 & 2013-14) (Physical Hearing) The Dcit, Vs. Vijaybhai Malabhai Bharwad, Central Circle – 3, B-58, Chandramani Apartment, Surat. Udhana Magdalla Road, Surat - 395007 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aclpv4173C (Appellant) (Respondent) आयकर अपील सं./Ita No.118/Srt/2021 (Assessment Year: 2014-15) Vijaybhai Malabhai Bharwad, Vs. The Acit, B-58, Chandramani Apartment, Circle -1(2), Udhana Magdalla Road, Surat - 395007 Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aclpv4173C (Appellant) (Respondent) आयकर अपील सं./Ita No.121/Srt/2021 (Assessment Year: 2014-15) The Dcit, Vs. Vijaybhai Malabhai Bharwad, Central Circle – 2, B-58, Chandramani Apartment, Surat. Udhana Magdalla Road, Surat - 395007 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aclpv4173C (Appellant) (Respondent) आयकर(खोज-और-ज"ती)अपील सं It(Ss)A Nos.90/Srt/2022 (Assessment Year: 2014-15) Vijaybhai Malabhai Bharwad, Vs. The Dcit, B-58, Chandramani Apartment, Central Circle – 3, Udhana Magdalla Road, Surat. Surat - 395007 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aclpv4173C (Appellant) (Respondent)

68 of the Act. The assessee has taken unsecured loan from several persons, therefore, each loan is discussed separately in the following paras after IT(SS)A Nos.23, 24/SRT/2021, 90/SRT/2022 & ITA Nos. 118, 121/SRT/2021 Vijaybhai Malabhai Bharwad considering the assessment order, remand report, submissions of the assessee alongwith paper book filed & rejoinder. i) Shri Manharbhai C. Patel: - The assessee obtained

VIJAYBHAI MALABHAI BHARWAD,SURAT vs. ASST. COMMISSIONER OF INCOME TAX, CIR.,-1(2), SURAT

In the result, ground no.2 raised by the assessee in ITA

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर(खोज-और-ज"ती)अपील सं/It(Ss)A Nos.23 & 24/Srt/2021 (Assessment Years: 2012-13 & 2013-14) (Physical Hearing) The Dcit, Vs. Vijaybhai Malabhai Bharwad, Central Circle – 3, B-58, Chandramani Apartment, Surat. Udhana Magdalla Road, Surat - 395007 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aclpv4173C (Appellant) (Respondent) आयकर अपील सं./Ita No.118/Srt/2021 (Assessment Year: 2014-15) Vijaybhai Malabhai Bharwad, Vs. The Acit, B-58, Chandramani Apartment, Circle -1(2), Udhana Magdalla Road, Surat - 395007 Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aclpv4173C (Appellant) (Respondent) आयकर अपील सं./Ita No.121/Srt/2021 (Assessment Year: 2014-15) The Dcit, Vs. Vijaybhai Malabhai Bharwad, Central Circle – 2, B-58, Chandramani Apartment, Surat. Udhana Magdalla Road, Surat - 395007 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aclpv4173C (Appellant) (Respondent) आयकर(खोज-और-ज"ती)अपील सं It(Ss)A Nos.90/Srt/2022 (Assessment Year: 2014-15) Vijaybhai Malabhai Bharwad, Vs. The Dcit, B-58, Chandramani Apartment, Central Circle – 3, Udhana Magdalla Road, Surat. Surat - 395007 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aclpv4173C (Appellant) (Respondent)

68 of the Act. The assessee has taken unsecured loan from several persons, therefore, each loan is discussed separately in the following paras after IT(SS)A Nos.23, 24/SRT/2021, 90/SRT/2022 & ITA Nos. 118, 121/SRT/2021 Vijaybhai Malabhai Bharwad considering the assessment order, remand report, submissions of the assessee alongwith paper book filed & rejoinder. i) Shri Manharbhai C. Patel: - The assessee obtained

THE ITO, WARD-5(4),, SURAT vs. SHRI SNEHALKUMAR J. SHAH,, SURAT

In the result, the Cross Objection of the assessee is dismissed

Bench: Shri C.M.Garg & Shri O.P.Meenaआ.अ.सं./I.T.A No.338/Ahd/2014/Srt िनधा"रण वष"/Assessment Year : 2009-10 The Income Tax Officer, Vs. Snehalkumar J.Shah, Ward-5(4), Surat. Flat No.201, 2Nd Floor, Shantinath Apartment, Limbacha Falia, Katagam, Surat – 395 008. [Pan: Azxps 1006 Q] अपीलाथ" Appellant ""यथ"/Respondent C.O. No.130/Ahd/2014/Srt िनधा"रण वष"/Assessment Year : 2009-10 Snehalkumar J.Shah, Vs. The Assistant Commissioner Flat No.201, 2Nd Floor, Of Income Tax, Shantinath Apartment, Circle – 5, Surat. Limbacha Falia, Katagam, Surat – 395 008. [Pan: Azxps 1006 Q] अपीलाथ" Appellant ""थ"/Respondent िनधा"रती क" ओर से /Assessee By Shri Tushar P. Hemani – Adv. Shri J.K.Chandnani – Sr.Dr राज"व क" ओर से /Revenue By 12.07.2018 सुनवाई क" तारीख/ Date Of Hearing: 05.09.2018 उ"ोषणा क" तारीख/Pronouncement On आदेश /O R D E R Per O. P. Meena, Accoutant Member:

1)(vii) and by virtue of said provision, gift received from brother is exempt. In this case, the gift has been received from brother which is evident from the gift deed, hence provisions of section 56 of the Act are applicable, hence no addition can be made. The ld.AR also placed in the case of Chandrakanth S.Shah