SHREE NARMADA KHAND UDYOG SAHKARI MANDALI LTD.,NARMADA vs. INCOME TAX OFFICER, WARD - 2(1), BHARUCH

In the result, the grounds of appeal raised by the assesse are allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

section 37(1) of the Act. The assessing officer also held that SMP was fixed on the basis of recommendations of the Commission for Agricultural Costs and Prices (CACP) after consulting the State Governments and associations of sugar industry and cane growers, on considering various factors like in a scientific manner, using an accepted tools of economic and statistical analysis

INCOME TAX OFFICER, WARD-2(3)(8), SURAT vs. MAHAVEER SHANTILAL JAIN, SURAT

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.453/Srt/2019 "नधा"रण वष"/Assessment Year: (2013-14) (Physical Hearing) The Ito, Vs. Mahaveer Shantilal Jain, Ward-2(3)(8), Prop. M/S Mukesh Diamonds, 1St Surat. Office No.401, Floor, H.No.5/1171/72/73/1090, New Dtc, Hath Falia, Haripura, Surat – 395009. (Appellant) (Respondent) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aqupj6439L Appellant By Shri Ritesh Mishra, Cit(Dr) Respondent By Shri P. M. Jagasheth, Ca Date Of Hearing 08/09/2023 Date Of Pronouncement 25/09/2023

17 April 2017. Subsequently, the case was selected for scrutiny under CASS and since the assessee had entered into an international transactions during the relevant period, reference under section 92CA(1) was made to Transfer Pricing

BILAKHIA HOLDING P LTD,VAPI vs. THE JT.CIT.,VAPI RANGE,, VAPI

In the result, the appeal of the assessee is allowed for assessment year 2010-11

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

1 M3 Holdings Redemption of 1749.06 (Singapore) Pte Ltd. preferential shares of M3 Holdings (Singapore) Pte Ltd 2 Meeba Holdings Pte Transfer of equity shares 47.37 Ltd of M3 Holdings (Singapore) Pte Ltd 3 M3 Holdings Provided corporate 2218.65 (Singapore) Pte Ltd. guarantee on behalf of M3 Holdings (Singapore) Pte Ltd 4 M3 Holdings Interest free unsecured 281.25 (Singapore

BILAKHIA HOLDINGS PVT. LTD.,VAPI vs. THE ACIT.,VAPI CIRCLE, VAPI

In the result, the appeal of the assessee is allowed for assessment year 2010-11

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

1 M3 Holdings Redemption of 1749.06 (Singapore) Pte Ltd. preferential shares of M3 Holdings (Singapore) Pte Ltd 2 Meeba Holdings Pte Transfer of equity shares 47.37 Ltd of M3 Holdings (Singapore) Pte Ltd 3 M3 Holdings Provided corporate 2218.65 (Singapore) Pte Ltd. guarantee on behalf of M3 Holdings (Singapore) Pte Ltd 4 M3 Holdings Interest free unsecured 281.25 (Singapore

BILAKHIA HOLDINGS PVT. LTD.,,VAPI vs. THE ADDL.CIT.,VAPI RANGE,, VAPI

In the result, the appeal of the assessee is allowed for assessment year 2010-11

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

1 M3 Holdings Redemption of 1749.06 (Singapore) Pte Ltd. preferential shares of M3 Holdings (Singapore) Pte Ltd 2 Meeba Holdings Pte Transfer of equity shares 47.37 Ltd of M3 Holdings (Singapore) Pte Ltd 3 M3 Holdings Provided corporate 2218.65 (Singapore) Pte Ltd. guarantee on behalf of M3 Holdings (Singapore) Pte Ltd 4 M3 Holdings Interest free unsecured 281.25 (Singapore

BILAKHIA HOLDINGS PVT. LTD.,,VAPI vs. THE JT.CIT.,VAPI RANGE,, VAPI

In the result, the appeal of the assessee is allowed for assessment year 2010-11

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

1 M3 Holdings Redemption of 1749.06 (Singapore) Pte Ltd. preferential shares of M3 Holdings (Singapore) Pte Ltd 2 Meeba Holdings Pte Transfer of equity shares 47.37 Ltd of M3 Holdings (Singapore) Pte Ltd 3 M3 Holdings Provided corporate 2218.65 (Singapore) Pte Ltd. guarantee on behalf of M3 Holdings (Singapore) Pte Ltd 4 M3 Holdings Interest free unsecured 281.25 (Singapore

MICRO INKS PVT. LTD., ( FORMERLY KNOWN AS MICRO INKS LTD.),VAPI vs. THE INCOME TAX OFFICER, ( INTL. TAXN.), SURAT

In the result, appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Hon'Ble & Shri O.P.Meena, Hon'Bleआ.अ.सं./I.T.A No.2375/Ahd/2014 "नधा"रण वष"/Assessment Year: 2012-13 The Income Tax Officer, V Micro Inks Limited, (International Taxation), Surat. S. Bilakhia House, Muktanand Marg, Chala, Vapi – 396 191. [Pan: Aaach 7063 F] अपीलाथ" / Appellant ""यथ"/Respondent आ.अ.सं./I.T.A No.2707/Ahd/2014 "नधा"रण वष"/Assessment Year: 2012-13 Micro Inks Limited, V The Income Tax Officer, Bilakhia House, Muktanand S. (International Taxation), Marg, Chala, Vapi – 396 191. Surat. [Pan: Aaach 7063 F] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओरसे /Assessee By Shri Gopala Krishnan – Ca राज"वक"ओरसे /Revenue By Mrs. Anupam Singla – Sr.Dr सुनवाईकीतारीख/ Date Of Hearing: 06.02.2020 उ"घोषणाक"तार"ख/Pronouncement On: 14.02.2020

17 of 27 the facts of the present case are also similar to the case of Adani Enterprises Ltd., (supra), therefore we find no reasons to deviate from the lawful findings so recorded by the ld.CIT(A), therefore this ground raised by the Revenue stands dismissed. ITA No.2707/Ahd/2014 for Assessment Year 2012-13(by Assessee): 13. Grounds of appeal raised

THE ITO, (INTERNATIONAL TAXATION),, SURAT vs. MICRO INKS LIMITED,, VAPI

In the result, appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Hon'Ble & Shri O.P.Meena, Hon'Bleआ.अ.सं./I.T.A No.2375/Ahd/2014 "नधा"रण वष"/Assessment Year: 2012-13 The Income Tax Officer, V Micro Inks Limited, (International Taxation), Surat. S. Bilakhia House, Muktanand Marg, Chala, Vapi – 396 191. [Pan: Aaach 7063 F] अपीलाथ" / Appellant ""यथ"/Respondent आ.अ.सं./I.T.A No.2707/Ahd/2014 "नधा"रण वष"/Assessment Year: 2012-13 Micro Inks Limited, V The Income Tax Officer, Bilakhia House, Muktanand S. (International Taxation), Marg, Chala, Vapi – 396 191. Surat. [Pan: Aaach 7063 F] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओरसे /Assessee By Shri Gopala Krishnan – Ca राज"वक"ओरसे /Revenue By Mrs. Anupam Singla – Sr.Dr सुनवाईकीतारीख/ Date Of Hearing: 06.02.2020 उ"घोषणाक"तार"ख/Pronouncement On: 14.02.2020

17 of 27 the facts of the present case are also similar to the case of Adani Enterprises Ltd., (supra), therefore we find no reasons to deviate from the lawful findings so recorded by the ld.CIT(A), therefore this ground raised by the Revenue stands dismissed. ITA No.2707/Ahd/2014 for Assessment Year 2012-13(by Assessee): 13. Grounds of appeal raised

HUBERGROUP INDIA PRIVATE LIMITED,VAPI vs. PR. COMMISSIONER OF INCOME TAX, VALSAD

In the result, appeal of the assessee is dismissed

Bench: Shri Pawan Singh & Dr Arjun Lal Sainiआ.अ.सं./Ita No.133/Srt/2022 (Ay 2018-19) (Hearing In Virtual Court) Hubergroup India Pvt. Ltd. Principal Commissioner Of Plot No.808/E, Phase-Ii, Income Tax, Valsad, Room Vs Gidc, Vapi-396195 No.301, 3Rd Floor, Income Tax Pan No. Aaach 7063 F Office, Palak Arcade, Pali Hill, Santi Nagar, Tithal Road, Valsad-396001 ""थ" /Respondent अपीलाथ"/Appellant

1) of the Act to the Transfer Pricing Officer (TPO for short) for determination of Arm’s Length Price (ALP for short) in respect of International Transactions only. The report of TPO was 3 Hubergroup India Pvt. Ltd. received on 31.03.2021 in suggesting certain upward adjustment of Rs.12.58 crores in respect of International Transactions. Accordingly, such upward adjustment was added

KRISTINA NATHABHAI KRICHCHAN,SURAT vs. DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(3), 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.349/Srt/2022 "नधा"रण वष"/Assessment Year: (2016-17) (Physical Hearing) Kristina Nathabhai Krichchan, Vs. The Dcit, Circle-2(3), 2/4, Zankhana Apartment, Surat. 21 Narmad Nagar Society, Athwalines, Surat – 395001. (Assessee) (Respondent) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Dwipk2888D Assessee By Shri P. M. Jagasheth, Ca Respondent By Shri Ashok B. Koli, Cit(Dr) 10/05/2023 Date Of Hearing Date Of Pronouncement 26/06/2023

transfer took place, . . ." 3. The Assessing Officer, the appellate authority as well as the Tribunal rejected the claim of the assessee in respect of the assessment year 1975-76 on the ground that he did not become the owner of the property, as the said transaction was not evidenced by registration thereof as provided under section 17 of the Registration

ACIT, CIRCLE-2(1)(1), INCOME TAX DEPARTMENT vs. S D MATERIAL HANDLERS PRIVATE LIMITED, SURAT

In the result, the appeal of the Revenue is dismissed

Bench: Shri Pawan Singh, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.499/Srt/2023 (िनधा"रणवष" / Assessment Year: (2013-14) (Hybrid Hearing) Assistant Commissioner Of M/S S D Material Handlers Pvt. Ltd. Income-Tax, Circle-2(1)(1), Surat Vs. 405-408, Shivalik Western, L.P. Room No.612, 6Th Floor, Aayakar Savani Road, Adajan Adajan Bhavan, Near Majura Gate, Bo, Surat-395009 Surat-395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaccd 3481B (अपीलाथ" /Assessee) (""थ"/Respondent)

price (ii) Recuring annual tax @ 200 + Rs.400/- per every 1000 kgs or part thereof exceeding 2000 kgs. Further, assessing officer has also noticed that the assessee has not debited any amount against RTO tax in its Profit & Loss account for the year under consideration though following capitalization method for sale value of cranes. The assessee-company has not submitted anything

BALUBHAI BRIJBHUKHANDAS CHOKSI,NA vs. ARIVS.PRINCIPAL COMMISSIONER OF INCOME TAXVALSAD, VALSAD

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.119/Srt/2022 ("नधा"रणवष" / Assessment Year: (2017-18) (Physical Court Hearing) Balubhai Brijbhukhandas Principal Commissioner Of Income- Tax-Valsad, Room No. 301, 3Rd Floor, Choksi, Mota Bazar, Vs. Navsari-396445 Income Tax Office, Palak Arcade, Pali Hill, Santinagar, Tithal Road, Valsad-396001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaifb 9804 B (अपीलाथ" /Appellant) (""थ" /Respondent) िनधा"रती की ओर से /Assessee By : Shri Hiren M. Diwan, C.A राज"व क" ओर से /Respondent By: Shri Ravinder Sindhu, Cit-D.R

transfer. It is noted that assessee is a firm and the firm has accepted depositing Rs.12,50,000/- towards PMGKS 2016. However, the source of this amount has not been routed through the P & L account. How the taxes have been paid and accounted for and whether the balance amount has been taken to balance sheet is also not clear

KANUBHAI VANMALIBHAI PATEL HUF,SURAT vs. ITO, WARD-1(2)(1), SURAT, SURAT

In the result, the grounds of appeal raised by the assessee is allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Physical Court) Kanubhai Vanmalibhai Patel I.T.O.,Ward 1(2)(1), Huf,6, Siddharth Society, Surat. Vs. Behind Afil Tower, Lambe Hanuman Road, Surat-395010. Pan: Aakhp 0725 K Appellant Respondednt

1) of the Act was served upon the assessee for seeking certain information about short term/long term capital gain and agricultural income and accepted the returned income in assessment order dated 13/12/2018 passed under Section 143(3) of the Act. The 2 Kanubhai Vanmalibhai Patel HUF Vs ITO assessment order was revised by the ld. Pr.CIT vide his order dated

INCOME TAX OFFICER WARD - 1(1)(1), SURAT vs. V R SURAT PVT. LTD. FORMERLY KNOWN AS M/S DHANLAXMI INFRASTRUCTURE PVT. LTD., SURAT

In the result, cross objection filed by the assessee (in CO

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.329/Srt/2022 Assessment Year: (2015-16) (Physical Hearing) Income Tax Officer, Ward- Vs. V R Surat Pvt. Ltd. 1(1)(1), Surat, Room No.111, 1St (Formerly Known As M/S. Floor, Aayakar Bhawan, Majura Dhanlaxmi Infrastructure Pvt. Gate, Surat-395001 Ltd.,).F. No.29, Virtuous Retail, Surat Dumas, Nr. Dumas Resort, Magdalla, Surat– 395007 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaccd5578R (Assessee) (Respondent) ""या"ेप. सं./Co No.16/Srt/2022 [Arising Out Of Ita No.329/Srt/2022] Assessment Year: (2015-16)

Section 92D of the Act, r/w Rule 10D of the Income-tax Rules, 1962 (‘the Rules’), an external benchmark was claimed to have been undertaken by the company on data available on national Security Depository Limited (NSDL) website. In the said benchmarking exercise, the mean interest rate of comparable transactions was arrived at 16.83% p.a against 15% p.a. paid

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

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

ITO, WARD-2(2)(3), SURAT vs. MAHESHCHAND G. PATEL (HUF), SURAT

In the result, the grounds of appeal raised by the revenue are dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Physical Hearing) I.T.O., Maheshchandra G. Patel (Huf), Ward-2(2)(3), 22, Vrajbhumi, Tirumala Society, In Vs. Surat. Front Of Balaji Nagar, Piplod, Surat. Pan No. Aajhm 2315 P Appellant/ Assessee Respondent/ Revenue

1(3)(4), who has no jurisdiction over the assessee. In the entire assessment order, there is no reference of valid transfer order under Section 129 of the Act about transfer of such case of jurisdiction. Therefore, the assessment order passed in the present case is also bad in law and any subsequent action is void ab initio. To support