M/S. TIRUPATI ENERGY SOLUTION PVT. LTD.,,SURAT vs. THE INCOME TAX OFFICER, WARD-2(1)(4),, SURAT

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

Bench: Shri C.M.Garg & Shri O.P.Meenaआ.अ.सं./I.T.A No.573/Ahd/2017 िनधा"रण वष"/A.Y.:2012-13 M/S. Tirupati Energy Solution Vs. Income Tax Officer, Pvt. Ltd. , 1/B Ratnadham Ward- 2(1)(4) Surat Vinay Apartment , Ratnadham Sankhul Piplod Surat Pan: Aacct 7044 G अपीलाथ" Appellant ""यथ"/Respondent

6) and proper details have been filed. The learned counsel for the assessee explained that cash deposits made by the Tirupati Energy Solution Pvt. Ltd. v. ITO 2(1) (4) Surat/I.T.A. No.573/Ahd/2017/A.Y.:12-13 Page 14 of 31 investors in their accounts can be investigated independently in the respective cases as the Explanation to section 68

DCIT, CENTRAL CIRCLE-2, SURAT, SURAT vs. DHANPRIYA PRINTS PVT. LTD.,, 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 68 of the Act.” 5. Now, we shall take, one by one, these concise and summarize grounds of appeals. 6. Common ground no.1 is reproduced below for ready reference and adjudication: “1. Common ground No.1: In these grounds, assessing officer made addition by estimating the profit at the rate of 20% on alleged unaccounted job receipts. On appeal

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.

section 68 of the Act.” 5. Now, we shall take, one by one, these concise and summarize grounds of appeals. 6. Common ground no.1 is reproduced below for ready reference and adjudication: “1. Common ground No.1: In these grounds, assessing officer made addition by estimating the profit at the rate of 20% on alleged unaccounted job receipts. On appeal

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 68 of the Act.” 5. Now, we shall take, one by one, these concise and summarize grounds of appeals. 6. Common ground no.1 is reproduced below for ready reference and adjudication: “1. Common ground No.1: In these grounds, assessing officer made addition by estimating the profit at the rate of 20% on alleged unaccounted job receipts. On appeal

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 the I.T. Act, 1961. 3.Appellant craves leave to add, alter or delete ground(s) either before or in the course of hearing of appeal.” 2. The Revenue in its cross-appeal in ITA No.375/SRT/2023 has raised the following grounds of appeal “1. On the facts and in the circumstances of the case

ASSISTANT COMMISSIONER OF INCOME TAX, CIR - 1(3), SURAT vs. RAJGREEN INFRALINK LLP, 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 the I.T. Act, 1961. 3.Appellant craves leave to add, alter or delete ground(s) either before or in the course of hearing of appeal.” 2. The Revenue in its cross-appeal in ITA No.375/SRT/2023 has raised the following grounds of appeal “1. On the facts and in the circumstances of the case

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)

section 68 of the Act. Thus, Rs.54,90,000/- was added as unexplained cash credits u/s 68 of the Act. 5. The brief facts relating to addition of Rs.2,30,05,000/- made on account of unsecured loans received and treated as unexplained cash credits u/s 68 of the Act, are as follows: In respect of unsecured loan

M/S. BAYER VAPI PRIVATE LTD. (FORMERLY KNOWN AS BILAG INDUSTRIES P. LTD.),VAPI vs. THE ASSTT. COMMISSIONER OF INCOME TAX, VAPI CIRCLE,, VAPI

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

Bench: Shri Amarjit Singh & Shri O.P. Meena, Accoutant Member आ.अ.सं/.I.T.A No’S.2886/Ahd/2010, 794/Ahd/2014 & 1769/Ahd/2016 िनधा"रण वष"/Assessment Years:2006-07, 2009-10 & 2011-12 बनाम M/S. Bilag Industries Pvt. Ltd. , Addl. Cit Range- ( Now Known As M/S. Bayer Vapi Vs. Vapi, Range Vapi Private Limited) 306/3,Phase-Ii Shivam Commercial Complex Gidc-1, Vapi Gujarat National Highway No 8 Vapi Pan: Aabcb 2100 L अपीलाथ" Appellant ""यथ"/Respondent Shri A. Gopalakrishnan Aiyer - Ca िनधा"रती क" ओर से /Assessee By Shri O. P. Singh Cit (D.R.) राज"व क" ओर से /Revenue By 26.09.2019 सुनवाई क" तारीख/ Date Of Hearing: 24.10.2019 उ"ोषणा क" तारीख/Pronouncement On आदेश /O R D E R Per O. P. Meena, Am: 1. The Above Captioned Three Appeals For The Assessment Year 2006-07, 2009-10 & 2011-12 By The Assessee Are Directed Against The Assessment Order Passed U/S. 143(3) R.W.S. 144C Dated 28.07.2010 & Dated 15.01.2014 Respectively Under The Income-Tax Act,1961 ['The Act' For Short] On The Direction Of Drp By The Addl. Cit Range-Vapi Range Vapi (Herein After Referred As The Ao) & The Appeal For The Assessment Year 2011-12 By The Assessee Is Directed Against The Order Of Ld. Cit (A) Dated 29.04.2016. Since The Common Issues Are Involved In These Appeals Therefore, These Were Heard Together & Consolidated Order Is Being Passed As Under: It(Tp)A No.2886/Ahd/2010/A.Y. 2006-07/ By The Assessee: 2. Ground Nos.1 Is General In Nature & Do Not Require Adjudication.

68 taxmann.com 329 (Gujarat) held that payment of compensation made by the assessee-firm to retiring partner was to be treated as goodwill and , since , goodwill is an asset under Explanation 3 (b) to section 32 (1), assessee`s claim for depreciation on said payment was to be allowed. 33 Bilag Industries Pvt. Ltd. Now Bayer Vapi

SHRI RAJENDRABHAI RAMANLAL DESAI,SURAT vs. INCOME TAX OFFICER, WARD 3(2)(6), SURAT

In the result, the appeal filed by the Revenue is dismissed

Bench: SHRI PAWAN SINGH (Judicial Member)

6 Rajendrabhai R Desai Second Amendment Act 2016 was brought on statue only after the announcing the demonetisation made on 08th November 2016. Before that, the rate of taxation under section 115BBE was 35.54% including surcharge and cess by way of this amendment, the rate was increased to 77.25% retrospectively for AY 2017-18. The amendment is in contradiction

SAMIR S MEHTA,MAHARASHTRA vs. CIT (A)-4, SURAT

In the result, appeal filed by the assessee is allowed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.42/Srt/2022 Assessment Year: (2017-18) (Physical Hearing) Samir Shantilal Mehta, Vs. The Acit, Central Circle-4, 1003, 10Th Floor, Sagardeep, South Surat. Ridge Road, Malabar Hill, Mumbai – 400006. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacpm5453D (Assessee) (Respondent) Shri Vartik Choksi & Biren Shah, Ar Assessee By Respondent By Shri Ashok B. Koli, Cit(Dr) Date Of Hearing 26/04/2023 Date Of Pronouncement 08/05/2023

6. After giving our thoughtful consideration to the submission of the parties and perusing the judicial decisions relied upon by the Ld. Counsel, we find that the issue involved in the present appeal is no longer res integra. The question as to whether provisions of section 115BBE would be applicable to tax the unexplained money being undisclosed gold, Jewellery

DIYA FABRICS,SURAT vs. INCOME TAX OFFICER, WARD 1(2)(1), SURAT

In the result, while appeal of the assessee is allowed, appeal of the Revenue is dismissed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.355/Srt/2022 "नधा"रण वष"/Assessment Year: (2014-15) (Physical Hearing) Diya Fabrics, Vs. The Ito, 1418, Kohinoor Market, Ring Road, Ward-1(2)(1), Surat. Surat – 395002. (Appellant) (Respondent) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aajfd3658A

section 68 of the Act in respect of the sundry creditors after making a detailed analysis, and on appeal by assessee, ld CIT(A) confirmed the action of the assessing officer. Therefore, the conclusion Diya Fabrics reached by the Assessing Officer by treating the sundry creditors (which are linked with purchases) is bad in law and for that reliance

NA vs. ARI MALESAR BEHDIN ANJUMAN,NAVSARIVS.INCOME TAX OFFICER, EXEMPTION WARD, SURAT

In the result, appeal of the assessee is allowed in terms of our aforesaid observations

Bench: Shri Sandeep Gosain, Hon'Ble & Shri O.P.Meena, Hon'Bleआ.अ.सं./I.T.A No.272/Srt/2018 "नधा"रण वष"/Assessment Year: 2013-14 Navsari Malesar Behdin Anjuman, V The Income Tax Officer, Agiary Street, Malesar, Navsari S Exemption Ward, Surat. Taluka, Navsari – 396 445. . [Pan: Aaatn 6124 C] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओरसे /Assessee By Shri H.R.Vepari – Ca राज"वक"ओरसे /Revenue By Shri O.P.Vaishav – Cit - Dr

section 12A(2) with effect from 1-10-2014 has to be applied retrospectively. (5) Shree BhanushaliMitraMandal Trust V/s, ITO Ward-3, Vapi (68- taxmann.250) Ahmedabad. Assessment year involved A.Y.20H--I2 Application for 12A made on Although not mentioned in the tribunal order, per s ec t io n 1 2 A A( 2

MOHANBHAI RAGHAVBHAI BELADIYA,SURAT vs. INCOME TAX OFFICER, WARD - 3(2)(5), SURAT

In the result, the appeal of the assessee is allowed in the terms indicated above

Bench: Shri Dr. A. L. Sainiआयकर अपील सं./Ita No.359/Srt/2023 Assessment Year: (2012-13) (Physical Hearing) Mohanbhai Raghavbhai Beladiya, Vs. The Ito, 41-42, Vishnu Nagar Society – 1, Ward-3(2)(5), Ankur Char Rasta, A. K. Road, Surat Surat – 395008. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aospb9227J (Assessee) (Respondent)

2. That the order passed u/s 250(6) of the Income Tax Act, is bad in law as the same has been disposed off without examining the merits of the case and is against the principles of natural justice. 3. That the CIT(A) has erred in making addition of opening cash balance arbitrarily and without assigning any cogent reason

THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4, SURAT vs. SMT. FALGUNI SANDIPKUMAR NAIK, SURAT

Appeal of the Revenue is dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Sainiit(Ss)A Nos. 19, 20 & Ita 659/Srt/2018 (Assessment Years: 2012-13, 2013-14 & 2014-15) (Hearing In Physical Court)

2. Ashok 1002959 2959 Yes - Yes 08/06/2018 23/03/2012 Enterprise (Prop. Prakashchandra M Modi) 3. Bhurabhai R 613469 33469 Yes Yes Yes 22/05/2018 07/10/2011 Patel 4. Divyesh Kantilal 527781 27781 Yes Yes Yes 17/05/2018 14/10/2011 5. Harshil Impex 1200000 - Yes - Yes 28/05/2018 22/03/2012 (Prop. Anil B. Gandhi) 6. Hemabhai 645200 35200 Yes Yes Yes 25/05/2018 07/10/2011 7. Khushi Gems

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 143(3) of the Income Tax, 1961 (hereinafter referred to as ‘the Act’) dated 31.03.2015. 2. Grounds of appeal raised by the assessee are as follows: “1.On the facts and circumstances of the case as well as law on the subject, the learned CIT(A) has erred in confirming the action of the Assessing Officer in making addition

SHRI ANANDKUMAR RAWATRAM JOSHI,,SURAT vs. THE INCOME TAX OFFICER, WARD-2(2),, SURAT

In the result, the appeal of the assessee for the

Bench: Shri C.M.Garg & Shri O.P.Meenaआ.अ.सं./I.T.A No. 2112/Ahd/2014 िनधा"रण वष"/A.Y.:2007-08 & & I.T.A. No. 2135 /Ahd/2014 A.Y. 2008-09 Shri Anand Kumar Joshi Vs. Income Tax Officer, 407 Manoj Market Ring Road Ward- 2(2) Surat Surat 395002 Pan: Aelpj2447K अपीलाथ" Appellant ""यथ"/Respondent

68, 66, 115 was made under section 40A(3)(b) of the Act in respect of liability incurred in A.Y. Anand Kumar Joshi v. Income-tax Officer 2(2) Surat/I.T.A. No.2112 & 2135/Ahd/2014/A.Y.:07-08 & 08-09 Page 3 of 22 2007-08 and payments were made to creditors during the year under consideration out of opening balances brought forward

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

2(1)(a) “appointed assessment year” means the 31st Day of December 2016. Section 5 of the Specified Bank Notes (Cessation of Liabilities) Act,2017 also deals with prohibition on holding transferring or receiving specified bank notes. Section 5 states that “On and from the ITA Nos. 193 to 195/SRT/2022 Ravi Mahexa appointed day, no person shall knowingly

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

2(1)(a) “appointed assessment year” means the 31st Day of December 2016. Section 5 of the Specified Bank Notes (Cessation of Liabilities) Act,2017 also deals with prohibition on holding transferring or receiving specified bank notes. Section 5 states that “On and from the ITA Nos. 193 to 195/SRT/2022 Ravi Mahexa appointed day, no person shall knowingly