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 came from 01.04.2022 and the same does not apply to the loan transactions. The Ld. Counsel, to prove his arguments, has relied on the following judgments: (i) CIT vs Lovely Exports P. Ltd. 216 CTR 195 (SC) (ii) CIT vs Ranchod Jivabhai Nakhava, ITA No.50 of 2011 (Guj.) (iii) Hindustan Inks & Resins Ltd. vs DCIT

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

section 68 should be made decision of High Court in the case of CIT v. Jalan Hard Coke Ltd.[2018] 95 taxmann.com 330 (Raj) approved – The High Court in para 5 took note of ITAT finding that alleged report of Inspector of Department who stated to have visited addresses of share applicants was never confronted to assessee. Therefore

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 and Rs.1,50,000/- for commission on account of unexplained expenditure. The assessee company has filed its return of income on 13.09.2012 declaring therein total income of Rs. 31,940/-. The return of income was processed u/s143(1) of Income Tax Act, 1961. The case was selected for scrutiny through CASS. Accordingly, a notice

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

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

68 creates a 'legal fiction’ by which amount found credited in the books although not 'income’ in real sense but the same can be brought to tax if assessee failed to satisfactorily explain the nature & source of it, same can be added as income. Law is well settled that primary onus is on the assessee to offer explanation about

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

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

68 creates a 'legal fiction’ by which amount found credited in the books although not 'income’ in real sense but the same can be brought to tax if assessee failed to satisfactorily explain the nature & source of it, same can be added as income. Law is well settled that primary onus is on the assessee to offer explanation about

DCIT, CIRCLE-1(1)(2), SURAT vs. J B SYNTEX 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.140/Srt/2020 Assessment Year: (2011-12) (Physical Hearing) The Dcit, Vs. J. B. Syntex Pvt. Ltd., Circle – 1(1)(2), B-25, Guj. Eco. Textile Park, Surat N. H. No.8, Palsana, Surat – 394315. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcj9389D (Appellant) (Respondent) Shri Vinod Kumar, Sr. Dr Appellant By Shri Rasesh Shah, Ca Respondent By Date Of Hearing 17/08/2023 Date Of Pronouncement 18/10/2023

section 68 of the Act. Hon'ble High Court held the Tribunal has considered each and every finding recorded by the assessing officer as well as the CIT(A), Ahmedabad and it cannot be said that the points raised before the assessing officer, as well as the first appellate authority were not dealt with by the Tribunal. Since

DIVYABEN PRAFULCHANDRA PARMAR,SURAT vs. INCOME TAX OFFICER, WARD 1(3)(1), 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.73/Srt/2023 (Assessment Year: 2014-15) (Physical Hearing) Divyaben Prafulchand Parmar, Vs. The Ito, Ward-1(3)(1), 1-2, Harikrishna Niwas, B/H Braham Surat. Kumari Ashram, Bhatar Road, Surat – 395017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acbpp9559Q (Appellant) (Respondent)

68 of the Act deserves to be deleted. Further, the Assessing Officer is directed to allow the benefit of section 10(38) of the Act to the assessee. 7. In the result, the appeal of the assessee is allowed. 7.2 In light of the above decisions, we are of the considered view that Ld. CIT(A) has not erred

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

section 68 of the Act. The ld. CIT (A) has also supported his view by placing reliance on the decision of Hon`ble Jurisdictional High Court of Gujarat and Hon`ble Supreme Court as mentioned in his findings reproduced above and accordingly, deleted the addition so made by the AO. Being aggrieved, the Revenue has filed this appeal before

SHRI CHANDUBHAI PARSHOTTAMBHAI BORAD,SURAT vs. INCOME TAX OFFICER, WARD 3(3)(5), SURAT

In the result, ground No.2 of assessee’s appeal is partly allowed

Bench: Shri Pawan Singhआ.अ.सं./Ita No.143/Srt/2023 (Ay 2016-17) (Hearing In Physical Court) Chandubhai Parshottambhai Income Tax Officer, Borad, 162, 163, Akshardham Ward-3(3)(5), Surat, Vs Society, Sarthana, Jakatnaka, Aayakar Bhavan, Majura Varachha Road, Gate, Surat-395001 Surat-395006 Pan No: Ajfpb 2959 Q अपीलाथ"/Appellant ""थ" /Respondent

section 68 of the Act. The Ld. AR for the assessee submits that assessee furnished complete details of the lenders to prove the identity, creditworthiness and genuineness of such transactions. The assessee has received unsecured loan of Rs.14.00 lakh from three persons, namely, Nareshbhai V Balar for Rs.5.00 lakh, Jentibhai J. Kotadiya for Rs.4.00 lakh and Subhashgiri M. Goswami

MAGNIFIQUE GEMS PRIVATE LIMITED,SURAT vs. INCOME TAX OFFICER, WARD 1(1)(4), SURAT

In the result, appeal of the assessee is allowed partly

Bench: Shri Sandeep Gosain () & Shri Om Prakash Kant () Assessment Year: 2017-18 Magnifique Gems Private Limited Income Tax Officer, 105 Rajshree Building, Maniyara Ward-1(1)(4) Sheri Na Naka, Surat, Vs. Aayakar Bhavan Income Tax Gujarat- 395003 Colony, Athwa, Surat, Gujarat- 395001 Pan No. Aagcm 5160 N Appellant Respondent Assessee By : Mr. Rasesh Shah, Ca Revenue By : Mr. J.K. Chandani, Sr-Dr

68 of the LT Act, 1961. 2 Magnifique Gems Private Limited 2. On the facts and circumstances of the case as well as law on the subject, the learned assessing officer has erred in taxing the addition by taking the rate @77.25% by attracting S. 115BBE instead of taxing as per normal tax slab. The addition if any that maybe

RAMESHKUMAR KARSANBHAI PATEL,SURAT vs. ITO, WARD 2(3)(5), SURAT

Accordingly the estimated addition made of Rs.35,166/-[0.5% of 70,33,182/-] by the AC invoking provision of section 69C of the I.T Act stand deleted. Thus this ground is allowed

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

87, C/o. Hariom Timber Mart, Ward 2(3)(5), Varachha Road, Surat-395006 Surat [PAN : AKNPP 8286 A] (Appellant) .. (Respondent) Appellant represented by : Shri Rajesh Upadhyay, AR Respondent represented by: Shri Ajay Uke, Sr DR Date of Hearing 23.01.2026 Date of Pronouncement 09.04.2026 O R D E R PER DR. B.R.R. KUMAR, VICE-PRESIDENT:- This appeal has been filed

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIR.-3, SURAT vs. SH. HARESHBHAI MOHANBHAI SAKARIYA, SURAT

In the result, Revenue’s appeal is dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Sainiit(Ss)A No.01/Srt/2021 (Ay 2010-11) It(Ss)A No.09/Srt/2020 (Ay 2014-15) (Hearing In Physical Court) Deputy Commissioner Of Shri Dineshchandra D Income-Tax, Central Circle- Koradia, 3Room No.507, 5Th Floor, 9/10, Dayanand Society, Aayakar Bhawan, Majura B/H.Navyug College, Gate, Surat-395001 Rander Road, Surat Pan No: Acupk 3696 A Assistant Commissioner Of Vs Income-Tax, Central Circle-3, Room No.507, 5Th Floor, Aayakar Bhawan, Majura Gate, Surat-395001 Appellant / Revenue Respondent /Assessee

68 therefore, the disallowance of consequence interests is also affirm. This ground No.6 of Revenue is dismissed. 16. In the result, Revenue’s appeal in IT(SS)A No.01/SRT/2021 is dismissed. IT(SS)A No.09/SRT/2020 (for A.Y.2014-15) 17. The Revenue has raised the following grounds of appeal:- “1. On the facts and in the circumstances of the case

TRIVIDH CORPORATION,SURAT vs. PR. CIT-2, SURAT

In the result, the appeal of the assessee is allowed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No.86/Srt/2020 ("नधा"रणवष" / Assessment Years: (2015-16) (Virtual Court Hearing) Trividh Corporation, Vs. The Pcit, Surat. Tp No.25, Fp No.103, Aashtha Medicare & Residency, Abrama Road, Mota Varachha, Surat-395005. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aahft0894N (Assessee) (Respondent) Assessee By : Shri Rajesh Upadhyay, Ar Revenue By : Shri S. T. Bidari, Cit(Dr) सुनवाईक"तार"ख/ Date Of Hearing : 13/05/2021 घोषणाक"तार"ख/Date Of Pronouncement : 24/05/2021 आदेश / O R D E R Per Dr. A. L. Saini: Captioned Appeal Filed By The Assessee, Pertaining To The Assessment Year (Ay) 2015-16, Is Directed Against The Order Passed By The Learned Principal Commissioner Of Income Tax, Surat [In Short “The Ld. Pcit”], Under Section 263 Of The Income Tax Act, 1961, [Hereinafter Referred To As The “Act”]. Grievances Raised By The Assessee Are As Follows: “1. Ld. Principal Cit Has Erred In Law & On Facts To Invoke Provisions Of Section 263 Of The Act & Finally ‘Set-Aside’ Ao’S Assessment Completed U/S 143(3) Of The Act & Also Direct The Ao To Frame The Assessment ‘Denovo’.” 2. The Relevant Material Facts, As Culled Out From The Material On Record, Are As Follows. The Assessee Before Us Is A Firm. It Has Filed Its Return Of Income For Assessment Year 2015-16 On 13.10.2015 Declaring Total Income At Rs. 4,42,80,220/-. The Assessee`S Case Was Selected For Scrutiny & Statutory Notice U/S 143(2) Of The Act Was Issued To The Assessee. The Assessee Is Engaged In The Business Of Construction & Project Development Activities. The Id Assessing Assessment Years.2015-16 Trividh Corporation Officer (Herein After Referred To ‘Ao’) Finalized The Assessment U/S 143(3) Of The Income Tax Act, On 11.12.2017, Accepting The Returned Income Of The Assessee.

68, 69, 69A to 69D or in respect of allowance of claim of expenses u/s 40(b) of the Act is not found to be acceptable and are accordingly rejected. Therefore, the assessment order u/s 143(3) of the Act, passed on 11.12.2017 (for A.Y. 2015-16) was found to be erroneous in so far as it is prejudicial

M/S. PATEL MADHAVLAL MAGANLAL & CO.,,SURAT vs. THE DCIT, CENTRAL CIRCLE-2, SURAT

In the result, all the appeal of the revenue is dismissed and the appeal of the assessee is partly allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Sainiit(Ss)A No. 48 & 50/Srt/2022 (Ay: 2018-19 & 2019-20) (Hearing In Physical Court) Assistant Commissioner M/S Patel Madhavlal Maganlal & Co., Of Income Tax, 3/139, Parsi Sheri Navapura, Vs. Central Circle-2, Surat-395003. Surat. Pan: Aadfp 2740 F Appellant Respondednt

68 employees are working and their total salary debited for the year is Rs. 31,07,326/- . On the basis of such observation, the ld. CIT(A) deleted the entire additions. Before us, no contrary fact or evidence or any law is brought to our notice by the ld. CIT-DR except relying on the order of Assessing Officer. Thus

DY/ASST. COMMISSIONER OF INCOME TAX,CC-2, SURAT vs. M/S. PATEL MADHAVLAL MAGANLAL & CO., SURAT

In the result, all the appeal of the revenue is dismissed and the appeal of the assessee is partly allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Sainiit(Ss)A No. 48 & 50/Srt/2022 (Ay: 2018-19 & 2019-20) (Hearing In Physical Court) Assistant Commissioner M/S Patel Madhavlal Maganlal & Co., Of Income Tax, 3/139, Parsi Sheri Navapura, Vs. Central Circle-2, Surat-395003. Surat. Pan: Aadfp 2740 F Appellant Respondednt

68 employees are working and their total salary debited for the year is Rs. 31,07,326/- . On the basis of such observation, the ld. CIT(A) deleted the entire additions. Before us, no contrary fact or evidence or any law is brought to our notice by the ld. CIT-DR except relying on the order of Assessing Officer. Thus

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -3, SURAT vs. M/S V SQUARE PROJECT, SURAT

Bench: Shri Pawan Singh & Dr Arjun Lal Sainiआ.अ.सं./Ita No.75/Srt/2023 (Ay 2017-18) (Hearing In Virtual Court) Asstt. Commissioner Of Income- M/S V Square Project Tax, Central Circle-3, Surat, 206, 2Nd Floor, Shanti Vs Room No. 507, 5Th Floor, Aaykar Arcade, 132Ft Ring Road, Bhavan, Majura Gate, Surat- Ahmedabad-380013 395001 Pan No. Aaifv 1955 B अपीलाथ"/Appellant ""थ" /Respondent

68 of the Act. The assessing officer further held that on verification of the details furnished by the assessee, he found that assessee has received cash of Rs 3,57,87,359/- from 53 buyers. Thus, remaining amount of Rs. 81,87,359/- (3,57,87,359-2,76,00,000 = 81,87,359) is also disallowed under section

THE DY.CIT,CENTRAL CIRCLE-3, SURAT vs. SHRI DHARMESH PADAMSHIBHAI PATEL, SURAT

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

Bench: Shri Pawan Singh, Jm & Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.18/Srt/2017 (िनधा"रणवष" / Assessment Year: (2014-15) (Virtual Court Hearing) The Deputy Commissioner Of Shri Dharmesh Padamshibhai Patel, 07, Green House, Kailash Nagar, Income Tax, Central Circle-3, Vs. Sagrampura, Surat Aayakar Bhavan, Room No.507 5Th Floor, Majura Gate, Surat- 395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Abgpp 6255 P (Appellant ) (Respondent)

section 68 namely, identity, creditworthiness and genuineness and hence a sum of Rs.20,87,54,237/- being credited in the books

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)

68. 4. That the CIT(A) has erred in confirming the addition made by the AO ignoring the fact, that the assessee being an agriculturist and not having any business income is not bound to maintain books of accounts. 5. For that and under the facts and circumstances of the case and in law, CIT(A) erroneously passed order