CIT v. SMS Investment Corporation Private Limited

SRISHTI ASSOCIATES,KOTA, RAJASTHAN vs. ACIT, CENTRAL CIRCLE, KOTA, KOTA-RAJASTHAN

…CIRCLE, KOTA (Kerala) (ii) Chandalal Kalyanmal Vs ACIT 21 Taxworld 125 ITAT Jaipur Bench in ITA No. 385/JP/1992 order dated 3/2/1998. (iii) Mahendra Kumar Agarwal Vs ACIT 21 Taxworld 445 ITAT Jaipur Bench (iv) CIT vs SMS Investment Corporation Private Limited 207 ITR 364 Hon'ble Rajasthan High Court (v) Shardha Construction Vs ACIT 76 ITD 85 ITAT Pune bench (vi) Jayantilal Patel Vs. ACIT and others/ Dr Balbir Singh Tomar Vs ACIT & others (Rajasthan High Court) 233 ITR 588. / 244 ITR 500 (Departmental appeal in DB)/ 142 CTR 571/20 Tax World 546/ Hon'ble Rajasthan High Court. 5.1.7 The Ld AR of the assessee further…

RAM DHAN YADAV,CHOMU JAIPUR vs. INCOME TAX OFFICER, ITO 7(3), JAIPUR

In the result, both the appeals of the assessee are allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ,l- lhrky{eh] U;kf;d lnL; ,oa Jh jkBkSM+ deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 366 & 369/JPR/2023 fu/kZkj.k o"kZ@Assessment Years : 2007-08 & 2008-09 cuke Ram Dhan Yadav ITO, Vs. Near Govt. Hospital, Samod, The. Ward-7(3), Chomu, Jaipur. Jaipur. LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: ABBPY 7417 M vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksjls@Assesseeby : Shri Rajesh Soni (C.A.) jktLo dh vksjls@…

RAM DHAN YADAV,CHOMU JAIPUR vs. ITO, WD 7(3), JAIPUR

In the result, both the appeals of the assessee are allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ,l- lhrky{eh] U;kf;d lnL; ,oa Jh jkBkSM+ deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 366 & 369/JPR/2023 fu/kZkj.k o"kZ@Assessment Years : 2007-08 & 2008-09 cuke Ram Dhan Yadav ITO, Vs. Near Govt. Hospital, Samod, The. Ward-7(3), Chomu, Jaipur. Jaipur. LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: ABBPY 7417 M vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksjls@Assesseeby : Shri Rajesh Soni (C.A.) jktLo dh vksjls@…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE AJMER vs. MUKESH KUMAR SOMANI , KISHANGARH

In the result appeals of the revenue in ITA Nos

…e previous years and not in the year under consideration. In this regard, reliance is placed on the following judgments:- CO Nos. 23 & 25/JP/2022 DCIT vs. Alok Malpani 1. Commissioner of Income-Tax vs 5.M.5. Investment Corporation Pvt.Ltd. reported in (1994) 207 ITR 364 (Raj), wherein the Hon'ble jurisdictional Rajasthan High Court held as under “6. We have considered the matter. In accordance with Section 132(4A), if any document is found in the course of a search, then by legal fiction, a presumption has to be drawn that such document belongs to the person from whose possession or control it was found and the…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE AJMER vs. ALOK MALPANI, KISHANGARH

In the result appeals of the revenue in ITA Nos

…e previous years and not in the year under consideration. In this regard, reliance is placed on the following judgments:- CO Nos. 23 & 25/JP/2022 DCIT vs. Alok Malpani 1. Commissioner of Income-Tax vs 5.M.5. Investment Corporation Pvt.Ltd. reported in (1994) 207 ITR 364 (Raj), wherein the Hon'ble jurisdictional Rajasthan High Court held as under “6. We have considered the matter. In accordance with Section 132(4A), if any document is found in the course of a search, then by legal fiction, a presumption has to be drawn that such document belongs to the person from whose possession or control it was found and the…

SHRI ASHOK DHARENDRA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

In the result, appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Rathod Kamlesh Jayantbhai, Am Vk;Dj Vihy La-@Ita No. 256/Jp/2018 Fu/Kzkj.K O"Kz@Assessment Year :2015-16 Shri Ashok Dharendra, Cuke D.C.I.T. 23, Shivraj Niketan Scheme, Vs. Central Circle-3, Gautam Marg, Nr Vaishali Jaipur. Nagar Circle, Jaipur. Lfkk;H Ys[Kk La-@Thvkbzvkj La-@Pan/Gir No.: Aavpd 6554 B Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Manish Agarwal (Ca) Jktlo Dh Vksj Ls@ Revenue By : Shri S. Najmi (Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 02/02/2022 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 12 /04/2022 Vkns'K@ Order Per: Sandeep Gosain, J.M. This Is An Appeal Filed By The Assessee Against The Order Of Ld. Cit(A)- 4, Jaipur Dated 01/12/2017 For The A.Y. 2015-16 In The Matter Of Order Passed U/S 143(3) Read With Section 153B(1)(B) Of The Income Tax Act, 1961 (In Short, The Act), Wherein Following Grounds Have Been Taken. “1. On The Facts & In The Circumstances Of The Case The Ld. Cit(A) Has Grossly Erred In Confirming The Addition Of Rs. 1,50,00,000/- Made In The Assessment Completed U/S 143(3) R.W.S. 153B(1)(B) Solely On The Basis Of Statements Recorded During The Course Of Search Which Stood Retracted By The Assessee Through An Affidavit Filed. Thus, The Addition Made Solely On The Basis Of Such Retracted Statements Deserves To Be Deleted.

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “A”, JAIPUR Jh lanhi x®lkÃa] U;kf;d lnL; ,oa Jh jkBkSM+ deys'k t;arHkkbZ] ys[kk lnL; ds le{k BEFORE SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 256/JP/2018 fu/kZkj.k o"kZ@Assessment Year :2015-16 Shri Ashok Dharendra, cuke D.C.I.T. 23, Shivraj Niketan Scheme, Vs. Central Circle-3, Gautam Marg, NR Vaishali Jaipur. Nagar Circle, Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAVPD 6554 B vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri Manish Ag…

SHRI RAM KISHAN VERMA,KOTA vs. ADDITIONAL COMMISSIONER OF INCOME TAX, RANGE-1, KOTA

In the result, appeal of the assessee is allowed

…having given any loan to the assessee, then there cannot be second presumption against the assessee. In support of his contention, he has relied upon the decision of Hon’ble Jurisdictional High Court in case of CIT vs. SMS Investment Corporation Pvt. Ltd., 207 ITR 364 (Raj.). The ld. A/R then submitted that once the documents found during the search do not disclose the fact of obtaining loan from Shri DP Sehgal and further the assessee has taken a loan of Rs. 10 crores from AU Finance Ltd. on 30.07.2014, then there is no scope of any presumption for taking the alleged loan of Rs. 15 crores by the assessee. He…

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S. KEDIA REAL ESTATE LLP, JAIPUR

In the result, appeals of the revenue are dismissed whereas appeals of the assessee are allowed in part

…made. iii) Mahendra Kumar Agarwal Vs ACIT 21 Taxworld 445 ITAT Jaipur Bench has held that on the basis of paper recovered from father of the assessee, addition in the hands of the assessee cannot be made. iv) CIT vs SMS Investment Corporation Private Limited 207 ITR 364 Hon’ble Rajasthan High Court has held that if any document is found in the course of a search, then by legal fiction, a 112 ITA 128 & 127/JP/2019 & 285 & 289/JP/2019_ Nitin Kedia Vs DCIT with one Anr. presumption has to be drawn that such document belongs to the person from whose possession or control it was found and the contents of such documen…

DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-3, JAIPUR vs. SHRI NIRMAK KUMAR KEDIA,, JAIPUR

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “A”, JAIPUR Jh jes'k lh 'kekZ] ys[kk lnL; ,oa Jh fot; iky jko] U;kf;d lnL; ds le{k BEFORE: SHRI RAMESH C SHARMA, AM & SHRI VIJAY PAL RAO, JM vk;dj vihy la-@ITA Nos. 124 to 126/JP/2019 fu/kZkj.k o"kZ@Assessment Years :2015-16 to 2017-18 Shri Nirmal Kumar Kedia, cuke The Deputy Commissioner of Vs. Shop No. 8-9, Ganesh Income Tax, Nagar-VIA, Near Nadi Ka Central Circle-3, Room No. Phatak, Benad Road, NA-102, New Central Jhotwara, Jaipur. Revenue Building, Statute Circle, Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.:…

ASSISTANT COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-3, JAIPUR vs. SHRI NIRMAL KUMAR KEDIA,, JAIPUR

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “A”, JAIPUR Jh jes'k lh 'kekZ] ys[kk lnL; ,oa Jh fot; iky jko] U;kf;d lnL; ds le{k BEFORE: SHRI RAMESH C SHARMA, AM & SHRI VIJAY PAL RAO, JM vk;dj vihy la-@ITA Nos. 124 to 126/JP/2019 fu/kZkj.k o"kZ@Assessment Years :2015-16 to 2017-18 Shri Nirmal Kumar Kedia, cuke The Deputy Commissioner of Vs. Shop No. 8-9, Ganesh Income Tax, Nagar-VIA, Near Nadi Ka Central Circle-3, Room No. Phatak, Benad Road, NA-102, New Central Jhotwara, Jaipur. Revenue Building, Statute Circle, Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.:…

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR vs. SHRI NITIN KEDIA, JAIPUR

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “A”, JAIPUR Jh jes'k lh 'kekZ] ys[kk lnL; ,oa Jh fot; iky jko] U;kf;d lnL; ds le{k BEFORE: SHRI RAMESH C SHARMA, AM & SHRI VIJAY PAL RAO, JM vk;dj vihy la-@ITA Nos. 124 to 126/JP/2019 fu/kZkj.k o"kZ@Assessment Years :2015-16 to 2017-18 Shri Nirmal Kumar Kedia, cuke The Deputy Commissioner of Vs. Shop No. 8-9, Ganesh Income Tax, Nagar-VIA, Near Nadi Ka Central Circle-3, Room No. Phatak, Benad Road, NA-102, New Central Jhotwara, Jaipur. Revenue Building, Statute Circle, Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.:…

NITIN KEDIA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR

In the result, appeals of the revenue are dismissed whereas appeals of the assessee are allowed in part

…made. iii) Mahendra Kumar Agarwal Vs ACIT 21 Taxworld 445 ITAT Jaipur Bench has held that on the basis of paper recovered from father of the assessee, addition in the hands of the assessee cannot be made. iv) CIT vs SMS Investment Corporation Private Limited 207 ITR 364 Hon’ble Rajasthan High Court has held that if any document is found in the course of a search, then by legal fiction, a 112 ITA 128 & 127/JP/2019 & 285 & 289/JP/2019_ Nitin Kedia Vs DCIT with one Anr. presumption has to be drawn that such document belongs to the person from whose possession or control it was found and the contents of such documen…

M/S. KEDIA REAL ESTATE LLP,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR

In the result, appeals of the revenue are dismissed whereas appeals of the assessee are allowed in part

…made. iii) Mahendra Kumar Agarwal Vs ACIT 21 Taxworld 445 ITAT Jaipur Bench has held that on the basis of paper recovered from father of the assessee, addition in the hands of the assessee cannot be made. iv) CIT vs SMS Investment Corporation Private Limited 207 ITR 364 Hon’ble Rajasthan High Court has held that if any document is found in the course of a search, then by legal fiction, a 112 ITA 128 & 127/JP/2019 & 285 & 289/JP/2019_ Nitin Kedia Vs DCIT with one Anr. presumption has to be drawn that such document belongs to the person from whose possession or control it was found and the contents of such documen…

SHRI NIRMAK KUMAR KEDIA,,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-3, JAIPUR

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “A”, JAIPUR Jh jes'k lh 'kekZ] ys[kk lnL; ,oa Jh fot; iky jko] U;kf;d lnL; ds le{k BEFORE: SHRI RAMESH C SHARMA, AM & SHRI VIJAY PAL RAO, JM vk;dj vihy la-@ITA Nos. 124 to 126/JP/2019 fu/kZkj.k o"kZ@Assessment Years :2015-16 to 2017-18 Shri Nirmal Kumar Kedia, cuke The Deputy Commissioner of Vs. Shop No. 8-9, Ganesh Income Tax, Nagar-VIA, Near Nadi Ka Central Circle-3, Room No. Phatak, Benad Road, NA-102, New Central Jhotwara, Jaipur. Revenue Building, Statute Circle, Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.:…

SHRI NIRMAL KUMAR KEDIA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “A”, JAIPUR Jh jes'k lh 'kekZ] ys[kk lnL; ,oa Jh fot; iky jko] U;kf;d lnL; ds le{k BEFORE: SHRI RAMESH C SHARMA, AM & SHRI VIJAY PAL RAO, JM vk;dj vihy la-@ITA Nos. 124 to 126/JP/2019 fu/kZkj.k o"kZ@Assessment Years :2015-16 to 2017-18 Shri Nirmal Kumar Kedia, cuke The Deputy Commissioner of Vs. Shop No. 8-9, Ganesh Income Tax, Nagar-VIA, Near Nadi Ka Central Circle-3, Room No. Phatak, Benad Road, NA-102, New Central Jhotwara, Jaipur. Revenue Building, Statute Circle, Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.:…

SHRI NIRMAL KUMAR KEDIA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “A”, JAIPUR Jh jes'k lh 'kekZ] ys[kk lnL; ,oa Jh fot; iky jko] U;kf;d lnL; ds le{k BEFORE: SHRI RAMESH C SHARMA, AM & SHRI VIJAY PAL RAO, JM vk;dj vihy la-@ITA Nos. 124 to 126/JP/2019 fu/kZkj.k o"kZ@Assessment Years :2015-16 to 2017-18 Shri Nirmal Kumar Kedia, cuke The Deputy Commissioner of Vs. Shop No. 8-9, Ganesh Income Tax, Nagar-VIA, Near Nadi Ka Central Circle-3, Room No. Phatak, Benad Road, NA-102, New Central Jhotwara, Jaipur. Revenue Building, Statute Circle, Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.:…