IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER आयकरअपीलसं./ITA No. 264/RJT/2024 ((cid:11)नधा(cid:15)रणवष (cid:15) / Assessment Year: (2019-20)

(Hybrid Hearing)

Arvind Durlabhji Jogia Vs. The Pr. Commissioner of Ashapura Jewells, Kirti Mandir Income Tax, Jamnagar Road, Porbandar Income Tax Office, 4^th floor Manek Centre, Nehru Road, Jamnagar - 361008 (cid:19)थायीलेखासं./जीआइआरसं./PAN/GIR No.: ACCPJ0313M (Appellant) (Respondent)

आयकरअपीलसं./ ITA No.265/RJT/2024 िनधा(cid:15)रणवष(cid:15) / Assessment Year: (2019-20)

Prakash Ashokbhai Raninga Vs. The Pr. Commissioner of C/o. K. P. Parekh & Co., Office No. Income Tax, Jamnagar, 113-114, J. P. Towers, Tagor Road, 4^th Floor Manek Centre, Nehru Nr. Bhakti Nagar Station Plot, Road, Rajkot – 360002 Jamnagar – 361008 (cid:19)थायीलेखासं./जीआइआरसं./PAN/GIR No.: AEUPR4458R (Appellant) (Respondent)

Appellant by : Shri Kalpesh Parekh, Ld. AR Respondent by : Shri Sanjay Punglia, Ld. CIT(DR)

Date of Hearing : 05/02/2025 Date of Pronouncement : 02/05/2025 आदेश / O R D E R PER DINESH MOHAN SINHA, JM:

Captioned two appeals filed by the different assessee, pertaining to same Assessment Year (AY) 2019-20, are directed against the separate orders passed by the Principal Commissioner of Income Tax[(in short “Ld.

PCIT”] u/s. 263 of the Act, both vide order dated 04.03.2024.

2. Grounds of appeal in (ITA No. 264/Rjt/2024 for AY 2019-20) raised by the assessee are as follows:

1) The Ld. AO (Hon’ble PCIT) has erred in law as well as fact in making direction to assessing officer to revise the order passed by DCIT Cir-2, dated

22.09.2021 u/s. 143(3) for AY 2019-20.

2) The Hon’ble PCIT has erred in law as well as on facts in determining the fact that disclosure made during search u/s. 133A for AY 2019-20 of the appellant for Rs. 2,08,72,686/- will be taxed u/s. 115BBE @ 60% instead of regular business income tax slab rate.

3. Grounds of appeal in (ITA No. 265/Rjt/2024 for AY 2019-20) raised by the assessee are as follows:

1) The Learned AO (Hon'ble PCIT) has erred in law as well as fact in making direction to assessing officer to revise the order passed by DCIT CIR-2(1) dated

22/09/2021 u/s. 143(3) for AY 2019-20.

2)The Hon'ble PCIT has erred in law as well as on facts in determining the fact that disclosure made during search u/s.133A for A.Y. 2019-20 of the appellant for Rs.91,67,214/- will be taxed u/s. 115 BBE @60% instead of regular business income tax slab rate

4. Since, this appeal pertains to different assessee common and identical issues are involved, therefore consolidated order is being passed for the sake of convenience and brevity. The facts as well as the notice raised in ITA No. 264/Rjt/2024 have been considered for deciding these two appeals are en-

masse.

5. Brief facts of the case that the assessee has e-filed his return of income on 26.09.2019 declaring total income at Rs. 2,84,34,090/- for the year under consideration, the assessee has engaged in business of gold ornaments and jewellery and to some extent silver ornaments and articles. A survey u/s. 133A was carried out on the business premises of the assessee. Accordingly, case was selected for compulsory scrutiny and the notice u/s. 143(2) of I. T. Act, 1961 was issued and served on 25.09.2020 through ITBA. The assessee’s case was centralized and transferred to this office vide order u/s. 127(2) of the Act issued by the Ld.PCIT, Jamnagar vide dated 01.02.2021. a notice u/s. 142(1) of the Act was issued alongwith a questionnaire dated 17.02.2021 requesting to furnish the compliance in the matter as required, online electronically in e-proceeding facility. The assessee has complied to the notice/ questioner issue time to time electronically. The submission made by the assessee examined carefully and assessment completed as under, The fact discussed above the total income of the assessee is computed as under:

Income as per return filed Rs. 2,84,34,090/- Tota