SHRI NISHANT KANTILAL PATEL,BHARUCH vs. INCOME TAX OFFICER, WARD-2(2), BHARUCH

In the result, the appeals filed by the assessee (In ITA No

Bench: Shri Pawan Singh, Jm & Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.05 & 06/Srt/2019 ("नधा"रणवष" / Assessment Year: (2013-14) (Virtual Court Hearing) Shri Nishantkantilal Patel, Vs. Income Tax Officer, 9, Uma Park Society, Near Uma Ward-2(2), Bharuch. Bhavan, Bharuch-393002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Amepp2505R (Assessee) (Respondent) Smt Muktabennishantbhai Patel, Vs. Income Tax Officer, 9-10, Patel Kubj, Uma Park Society, B/H Ward-2(2), Bharuch. Uma Bhavan, Old Nh No.8, Gidc, Zadeshwar, Ankleshwar -393002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Binpp5922N (Assessee) (Respondent) आयकरअपीलसं./Ita Nos.07 & 10/Srt/2019 ("नधा"रणवष" / Assessment Year: (2014-15)

section 133(6) to the various entities such as M/s. Sun and Shine Worldwide Limited, M/s Corporate Commodity Brokers Private Limited and Bombay Stock Exchange. The assessing officer observed from the reply received from M/s Corporate Commodity Brokers Pvt. Ltd. that shares were purchased for Rs.2/- each and total amount of Rs. 71,000/- was paid in cash

SMT. MUKTABEN NISHANTBHAI PATEL,ANKLESHWAR vs. INCOME TAX OFFICER WARD -2(2), BHARUCH

In the result, the appeals filed by the assessee (In ITA No

Bench: Shri Pawan Singh, Jm & Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.05 & 06/Srt/2019 ("नधा"रणवष" / Assessment Year: (2013-14) (Virtual Court Hearing) Shri Nishantkantilal Patel, Vs. Income Tax Officer, 9, Uma Park Society, Near Uma Ward-2(2), Bharuch. Bhavan, Bharuch-393002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Amepp2505R (Assessee) (Respondent) Smt Muktabennishantbhai Patel, Vs. Income Tax Officer, 9-10, Patel Kubj, Uma Park Society, B/H Ward-2(2), Bharuch. Uma Bhavan, Old Nh No.8, Gidc, Zadeshwar, Ankleshwar -393002. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Binpp5922N (Assessee) (Respondent) आयकरअपीलसं./Ita Nos.07 & 10/Srt/2019 ("नधा"रणवष" / Assessment Year: (2014-15)

section 133(6) to the various entities such as M/s. Sun and Shine Worldwide Limited, M/s Corporate Commodity Brokers Private Limited and Bombay Stock Exchange. The assessing officer observed from the reply received from M/s Corporate Commodity Brokers Pvt. Ltd. that shares were purchased for Rs.2/- each and total amount of Rs. 71,000/- was paid in cash

TARA RAJU PATEL,VALSAD vs. INCOME TAX OFFICER, INTERNATIONAL TAXATION, , SURAT

In the result, the appeal of assessee is allowed

Bench: Shri Pawan Singh(Virtual Hearing) Raju Maganlal Patel, I.T.O. C/O-Dinkarbhai T. Patel, Shankar (International Taxation), Vs. Talao, Via-Dungri, Valsad. Surat. Pan No. Auspp 1436 F Appellant/ Assessee Respondent/ Revenue Tara Raju Patel, I.T.O. C/O-Dinkarbhai T. Patel, Shankar (International Taxation), Vs. Talao, Via-Dungri, Valsad. Surat. Pan No. Avdpp 6714 G Appellant/ Assessee Respondent/ Revenue

Transfer Pricing), Ahmedabad on 27/03/2018. Notice under Section 148 dated 28/03/2018 was served upon the assessee through speed post. The Assessing Officer recorded that in response to notice under Section 148, no return of income was filed. The Assessing Officer further recorded that despite serving several notices, which was allegedly served, no justification of cash deposit was Raju Maganlal Patel

SHRI RAJU MAGANLAL PATEL,VALSAD vs. INCOME TAX OFFICER, INT. TAXATION, SURAT, SURAT

In the result, the appeal of assessee is allowed

Bench: Shri Pawan Singh(Virtual Hearing) Raju Maganlal Patel, I.T.O. C/O-Dinkarbhai T. Patel, Shankar (International Taxation), Vs. Talao, Via-Dungri, Valsad. Surat. Pan No. Auspp 1436 F Appellant/ Assessee Respondent/ Revenue Tara Raju Patel, I.T.O. C/O-Dinkarbhai T. Patel, Shankar (International Taxation), Vs. Talao, Via-Dungri, Valsad. Surat. Pan No. Avdpp 6714 G Appellant/ Assessee Respondent/ Revenue

Transfer Pricing), Ahmedabad on 27/03/2018. Notice under Section 148 dated 28/03/2018 was served upon the assessee through speed post. The Assessing Officer recorded that in response to notice under Section 148, no return of income was filed. The Assessing Officer further recorded that despite serving several notices, which was allegedly served, no justification of cash deposit was Raju Maganlal Patel

THE DY.COMMISSIONER OF INCOME TAX CIRCLE-2(3),, SURAT vs. M/S. RAJ ENTERPRISES,, SURAT

Bench: Shri Pawan Singh & Dr Arjun Lal Saini

133(1), the record to provisions of section 133A of the Act can be had only concerned refuses to have his statement recorded or does not cooperate in recording the statement during the survey proceedings. There is no such claim of non-cooperation recorded by survey team; therefore the course to section 131(1) for recording his statement is illegal

M/S. RAJ ENTERPRISE,,SURAT vs. THE DY. COMMISSIONER OF INCOME TAX-6,, SURAT

Bench: Shri Pawan Singh & Dr Arjun Lal Saini

133(1), the record to provisions of section 133A of the Act can be had only concerned refuses to have his statement recorded or does not cooperate in recording the statement during the survey proceedings. There is no such claim of non-cooperation recorded by survey team; therefore the course to section 131(1) for recording his statement is illegal

M/S. RAJ ENTERPRISE,,SURAT vs. THE DY. COMMISSIONER OF INCOME TAX-6,, SURAT

Bench: Shri Pawan Singh & Dr Arjun Lal Saini

133(1), the record to provisions of section 133A of the Act can be had only concerned refuses to have his statement recorded or does not cooperate in recording the statement during the survey proceedings. There is no such claim of non-cooperation recorded by survey team; therefore the course to section 131(1) for recording his statement is illegal

KALUBHAI DULABHAI GOLAVIYA,SURAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2, , SURAT

In the result, ground raised by the assessee is allowed

Bench: Shri Pawan Singh, Jm &Dr. A.L.Saini, Am आयकर अपीलसं./It(Ss)A No.15 & Ita No.619/Srt/2018 (िनधा"रणवष" / Assessment Years: (2011-12 &2014-15) (Virtual Court Hearing) Shri Kalubhai Dulabhai Golaviya Deputy Commissioner Of Income-Tax, B/1-2, Jalaram Society, B/H. Central Circle-2, Aaykar Bhavan, Vs. Gurunagar Society, Varachha Majura Gate, Surat-395001 Road, Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ablpp 5116 A (अपीलाथ" /Appellant) (""थ" /Respondent)

prices. The assessee had not developed the plots into houses or is not dealing in Real Estate. The intention of the assessee is not in the nature of “Adventure in the Nature of trade but land was held with an intention to construct farm house”. However, later on the city limit was increased and it was not allowed to construct

SHRIFAL IMPEX PVT. LTD.,,SURAT vs. INCOME TAX OFFICER, WARD - 2(1)(3), SURAT

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.190 To 191/Srt/2023 Assessment Year: (2011-12 To 2012-13) (Physical Hearing) Shrifal Impex Private Limited, Vs. The Ito, No.504, 5Th Floor, H. No.6/B/1739- Ward-2(1)(3), 1380, Parshwa Complex Thoba Sheri, Surat Mahidharpura, Surat – 395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaocs4409E (Appellant) (Respondent) आयकर अपील सं./Ita No.250/Srt/2023 Assessment Year: (2014-15) Shrifal Impex Private Limited, Vs. The Ito, No.504, 5Th Floor, H. No.6/B/1739- Ward-2(1)(3), 1380, Parshwa Complex Thoba Sheri, Surat Mahidharpura, Surat – 395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaocs4409E (Appellant) (Respondent)

section 143(3) r.w.s. 147 of the Income Tax Act, 1961 (hereinafter referred to as “the Act”). ITA Nos. 190 - 191 &250/SRT/2023 Shrifal Impex Pvt. Ltd. 2. Since, the issues involved in all the appeals are common and identical; therefore, these appeals have been heard together and are being disposed of by this consolidated order. For the sake of convenience

SHRIFAL IMPEX PRIVATE LIMITED,SURAT vs. INCOME TAX OFFICER, WARD - 2(1)(3), SURAT

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.190 To 191/Srt/2023 Assessment Year: (2011-12 To 2012-13) (Physical Hearing) Shrifal Impex Private Limited, Vs. The Ito, No.504, 5Th Floor, H. No.6/B/1739- Ward-2(1)(3), 1380, Parshwa Complex Thoba Sheri, Surat Mahidharpura, Surat – 395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaocs4409E (Appellant) (Respondent) आयकर अपील सं./Ita No.250/Srt/2023 Assessment Year: (2014-15) Shrifal Impex Private Limited, Vs. The Ito, No.504, 5Th Floor, H. No.6/B/1739- Ward-2(1)(3), 1380, Parshwa Complex Thoba Sheri, Surat Mahidharpura, Surat – 395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaocs4409E (Appellant) (Respondent)

section 143(3) r.w.s. 147 of the Income Tax Act, 1961 (hereinafter referred to as “the Act”). ITA Nos. 190 - 191 &250/SRT/2023 Shrifal Impex Pvt. Ltd. 2. Since, the issues involved in all the appeals are common and identical; therefore, these appeals have been heard together and are being disposed of by this consolidated order. For the sake of convenience

SHRIFAL IMPEX PVT. LTD.,,SURAT vs. INCOME TAX OFFICER, WARD - 2(1)(3), SURAT

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.190 To 191/Srt/2023 Assessment Year: (2011-12 To 2012-13) (Physical Hearing) Shrifal Impex Private Limited, Vs. The Ito, No.504, 5Th Floor, H. No.6/B/1739- Ward-2(1)(3), 1380, Parshwa Complex Thoba Sheri, Surat Mahidharpura, Surat – 395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaocs4409E (Appellant) (Respondent) आयकर अपील सं./Ita No.250/Srt/2023 Assessment Year: (2014-15) Shrifal Impex Private Limited, Vs. The Ito, No.504, 5Th Floor, H. No.6/B/1739- Ward-2(1)(3), 1380, Parshwa Complex Thoba Sheri, Surat Mahidharpura, Surat – 395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaocs4409E (Appellant) (Respondent)

section 143(3) r.w.s. 147 of the Income Tax Act, 1961 (hereinafter referred to as “the Act”). ITA Nos. 190 - 191 &250/SRT/2023 Shrifal Impex Pvt. Ltd. 2. Since, the issues involved in all the appeals are common and identical; therefore, these appeals have been heard together and are being disposed of by this consolidated order. For the sake of convenience

SHRI JIVRAJBHAI H. BALAR,,SURAT vs. THE INCOME TAX OFFICER, WARD-8(2),, SURAT

In the result, appeals filed by the assessee for assessment years 2004-05 to 2007-08, ( IT(SS)A Nos

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./It(Ss)A No.150 To 154/Ahd/2015 ("नधा"रणवष" / Assessment Year: (2004-05 To 2008-09) (Physical Court Hearing) Jivrajbhai Harkhabhai Balar, The Dcit, Central Circle-1, Vs. 59, Kantareshwar Society, Surat. Katargam Road, Surat-395004. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Abopb8649M (Appellant) (Respondent) आयकरअपीलसं./Ita No.1245/Ahd/2015 ("नधा"रणवष" / Assessment Year: (2010-11) Jivrajbhai Harkhabhai Balar, Vs. The Dcit, Central Circle-1, 59, Kantareshwar Society, Surat. Katargam Road, Surat-395004. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Abopb8649M (Appellant) (Respondent)

133(6) should be invoked in every case. That will lead to an absurd interpretation. The legislature did not intend to use the words' May' and 'Shall' interchangeably. IT(SS)A.150-154/AHD/2015 & ITA.1245/AHD/2015 Assessment Years. 2004-05 to 2008-09 & 2010-11 Jivrajbhai H. Balar 24.3 The next issue then arises as to what should be parameters for exercising discretion. Since

ACIT, CC-3, SURAT vs. SHRI NARESH NEMCHAND SHAH, 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.197/Srt/2020 ("नधा"रणवष" / Assessment Years: (2012-13) (Physical Court Hearing) The Acit, Central Cir.-3, Vs. Naresh Nemchand Shah, Surat. Abhishek House, Bh. Jeevan Bharti School, Kadampali Society, Nanpura, Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acrps 0182 J (Assessee)/(Revenue) (Respondent)/(Assessee)

Price Purchase Transfer Exempt u/s.10(38) Company /year Cost/year Expenses Bakra Pratisth an 26454750 1500000 0 24954750 Limited The assessing officer observed that trading done by the assessee in the scripts of Bakra Pratisthan Limited who has poor fundamentals and is not doing any significant business activities since its inception. Moreover, trading in the above mentioned scripts has been done

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)

133(6)/131 of the Act were issued to M/s Gold Line International Finvest Limited, but nothing emerged from this effort. The payment for the shares in question was made by Sh. Salasar Trading Company. Notice was issued to this entity as well, but when the notices were returned unserved, the AO did not take the matter any further

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

133(6) of the Act was issued by Assessing Officer to the concerned bank, requiring submission of details of all bank accounts held by the assessee. In the response, the bank has provided the details. On perusal of details available on record, the Assessing Officer noticed that there was substantial cash deposit made in the below mentioned bank accounts during

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

133(6) of the Act was issued by Assessing Officer to the concerned bank, requiring submission of details of all bank accounts held by the assessee. In the response, the bank has provided the details. On perusal of details available on record, the Assessing Officer noticed that there was substantial cash deposit made in the below mentioned bank accounts during

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

133(6) of the Act was issued by Assessing Officer to the concerned bank, requiring submission of details of all bank accounts held by the assessee. In the response, the bank has provided the details. On perusal of details available on record, the Assessing Officer noticed that there was substantial cash deposit made in the below mentioned bank accounts during

RAHUL KALUBHAI KAKADIA,VARACHHA vs. ITO, WARD 3(3)(4), SURAT

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

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Virtual Court) Shri Rahul Kalubhai Kakadia Income Tax Officer 59,Vishnu Nagar-1, Ankur Ward-3(3)(4), Surat Vs Chowkdi, Nr. Mini Bazar, A.K.Road, Varachha, Surat- 395 008 Pan Aolpk 7873 G Nvbunha@Yahoo.Co.In Appellant / Assessee Respondent / Revenue

section 133(6) of the Act and deputed inspector of his ward to conduct enquiry and to serve notice. The Assessing Officer recorded that inspector furnished his report that the said party was not available on the given address. The A.O. issued show cause notice to the assessee for disallowance of such purchases. The assessee filed his reply and stated

M/S. MITSU PRIVATE LIMITED,,VAPI vs. THE ACIT, VAPI CIRCLE,, VAPI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Sandip Gosain & Shri O. P. Meenav. ""यथ"/Respondent आ.अ.सं././././I "नधा"र अपीलाथ" Appellant S .T.A No. ण N वष"/A Y: 1 1671/Ah 2002- M/S. Mitsu Limited, V. Assistant D/2006 03 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 2 1371/Ah 2002- Assistant V. M/S. Mitsu Limited, D/2006 03 Commissioner Of 304/2, Iind Phase, Income Tax-Vapi Gidc, Vapi 396195 Circle, Vapi Pan: Aaccm 2764 Q Co.No.1 2002- M/S. Mitsu Limited, V. Assistant 3 84/Ahd/ 03 304/2, Iind Phase, Commissioner Of 2006 Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 4 1672/Ah 2003- M/S. Mitsu Limited, V. Assistant D/2006 04 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 5 1764/Ah 2003- Assistant V. M/S. Mitsu Limited, D/2006 04 Commissioner Of 304/2, Iind Phase, Income Tax-Vapi Gidc, Vapi 396195 Circle, Vapi Pan: Aaccm 2764 Q 6 1000/Ah 2002- M/S. Mitsu Limited, V. Assistant D/2016 03 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 7 3510/Ah 2000- Assistant V. M/S. Mitsu Limited, D/2016 01 Commissioner Of Page 2 Of 83 Mitsu Ltd. V. Acit- Vapi/I.T.A. No.1671-1371,Co-184,1672-1764,1614 &1000/Ahd/2006/A.Y.02-03,03-04,06-07.02-03 Income Tax-Vapi 304/2, Iind Phase, Circle, Vapi Gidc, Vapi 396195 Pan: Aaccm 2764 Q

price. The purchaser companies are also assessed at maximum marginal rate. We find that the AO had made addition only on presumption basis without bringing on record any cogent material to establish that sales were made with a view to decrease profit. The assessee company which is having a turnover of more than Rs.40 crores would undertake such step total