Jai Lokenath Oil Extraction P. Ltd. v. DCIT

BABU LAL SHARMA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, JAIPUR

In the result, appeal of the assessee is allowed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

…tion of documents. There are various recent decisions on the issue that there can be no addition in respect to completed assessment if no incriminating material found during the course of search namely : - Jai Lokenath Oil Extraction P. Ltd. Vs. DCIT (2017) 166 ITD 161 (Kol – ITAT). CIT Vs. Deepak Kumar Agarwal (2017) 251 Taxman 22 (Bombay H.C.). Ratan Kumar Sharma Vs. DCIT (ITAT – JPR ITA No. 797/JP/2014 order dated 25-7-1). Similar view point was expressed by the Hon’ble Delhi High Court in the case of Kabul Chawla vs. ACIT 380 ITR 573 (Del HC) (order upheld by Hon’ble Supreme Court). The relevant observatio…

DEPUTY COMMISSINER OF INCOME TAX, LIC BUILDING vs. M/S GEE VEE DEVELOPERS PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

…r Rule 27 of ITAT Rules on the ground that the impugned assessment are bad in law as no incriminating material was found at the time of search which could trigger the provision of section 153C of the Act. c) Jai Lokenath Oil Extraction P. Ltd. Vs. DCIT (2017) 166 ITD 161 (Kol – ITAT). 43 ITA No. 264 to 267/JP/2022 & CO No.13 to 16/JP/2022 DCIT vs. M/s Rigid Conductors (Raj.) Pvt. Ltd. d) Ratan Kumar Sharma Vs. DCIT (ITAT – JPR ITA No. 797/JP/2014 order dated 25-7-18). e) ACIT Vs Majestic Commercial Pvt. Ltd. (Kolkata ITAT ITA No. 873/KOL/2018) dated 20-03-2020 held: “ No addition u/s 153A if incriminating mate…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S VISION ESTATES PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

…r Rule 27 of ITAT Rules on the ground that the impugned assessment are bad in law as no incriminating material was found at the time of search which could trigger the provision of section 153C of the Act. c) Jai Lokenath Oil Extraction P. Ltd. Vs. DCIT (2017) 166 ITD 161 (Kol – ITAT). 43 ITA No. 264 to 267/JP/2022 & CO No.13 to 16/JP/2022 DCIT vs. M/s Rigid Conductors (Raj.) Pvt. Ltd. d) Ratan Kumar Sharma Vs. DCIT (ITAT – JPR ITA No. 797/JP/2014 order dated 25-7-18). e) ACIT Vs Majestic Commercial Pvt. Ltd. (Kolkata ITAT ITA No. 873/KOL/2018) dated 20-03-2020 held: “ No addition u/s 153A if incriminating mate…

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S CHOKHI DHANI DEVELOPERS PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

…r Rule 27 of ITAT Rules on the ground that the impugned assessment are bad in law as no incriminating material was found at the time of search which could trigger the provision of section 153C of the Act. c) Jai Lokenath Oil Extraction P. Ltd. Vs. DCIT (2017) 166 ITD 161 (Kol – ITAT). 43 ITA No. 264 to 267/JP/2022 & CO No.13 to 16/JP/2022 DCIT vs. M/s Rigid Conductors (Raj.) Pvt. Ltd. d) Ratan Kumar Sharma Vs. DCIT (ITAT – JPR ITA No. 797/JP/2014 order dated 25-7-18). e) ACIT Vs Majestic Commercial Pvt. Ltd. (Kolkata ITAT ITA No. 873/KOL/2018) dated 20-03-2020 held: “ No addition u/s 153A if incriminating mate…

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S RIGID CONDUCTORS (RAJ.) PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

…r Rule 27 of ITAT Rules on the ground that the impugned assessment are bad in law as no incriminating material was found at the time of search which could trigger the provision of section 153C of the Act. c) Jai Lokenath Oil Extraction P. Ltd. Vs. DCIT (2017) 166 ITD 161 (Kol – ITAT). 43 ITA No. 264 to 267/JP/2022 & CO No.13 to 16/JP/2022 DCIT vs. M/s Rigid Conductors (Raj.) Pvt. Ltd. d) Ratan Kumar Sharma Vs. DCIT (ITAT – JPR ITA No. 797/JP/2014 order dated 25-7-18). e) ACIT Vs Majestic Commercial Pvt. Ltd. (Kolkata ITAT ITA No. 873/KOL/2018) dated 20-03-2020 held: “ No addition u/s 153A if incriminating mate…

DCIT, CC-3, JAIPUR vs. SMT. JYOTI FALOR, JAIPUR

…ition of documents. There are various recent decisions on the issue that there can be no addition in respect to completed assessment if no incriminating material found during the course of search namely : - Jai Lokenath Oil Extraction P. Ltd. Vs. DCIT (2017) 166 ITD 161 (Kol – ITAT). CIT Vs. Deepak Kumar Agarwal (2017) 251 Taxman 22 (Bombay H.C.). Ratan Kumar Sharma Vs. DCIT (ITAT – JPR ITA No. 797/JP/2014 order dated 25-7-1). Recently Hon’ble Supreme Court vide order dated 02-07-2018 in Meeta Gutgutia Vs Pr. CIT (96 Taxmann.Com 468) have held that Invocation of section 153A to re- open concluded assessments…

DCIT, C.C. -03, JAIPUR vs. SHRI TEJENDER KUMAR FALOR, JAIPUR

…ition of documents. There are various recent decisions on the issue that there can be no addition in respect to completed assessment if no incriminating material found during the course of search namely : - Jai Lokenath Oil Extraction P. Ltd. Vs. DCIT (2017) 166 ITD 161 (Kol – ITAT). CIT Vs. Deepak Kumar Agarwal (2017) 251 Taxman 22 (Bombay H.C.). Ratan Kumar Sharma Vs. DCIT (ITAT – JPR ITA No. 797/JP/2014 order dated 25-7-1). Recently Hon’ble Supreme Court vide order dated 02-07-2018 in Meeta Gutgutia Vs Pr. CIT (96 Taxmann.Com 468) have held that Invocation of section 153A to re- open concluded assessments…

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR vs. SMT. SAROJ PARWAL, JAIPUR

…ition of documents. There are various recent decisions on the issue that there can be no addition in respect to completed assessment if no incriminating material found during the course of search namely : - Jai Lokenath Oil Extraction P. Ltd. Vs. DCIT (2017) 166 ITD 161 (Kol – ITAT). CIT Vs. Deepak Kumar Agarwal (2017) 251 Taxman 22 (Bombay H.C.). Ratan Kumar Sharma Vs. DCIT (ITAT – JPR ITA No. 797/JP/2014 order dated 25-7-1). Recently Hon’ble Supreme Court vide order dated 02-07-2018 in Meeta Gutgutia Vs Pr. CIT (96 Taxmann.Com 468) have held that Invocation of section 153A to re- open concluded assessments…

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S BITTHAL DAS PARWAL, HUF, JAIPUR

…ition of documents. There are various recent decisions on the issue that there can be no addition in respect to completed assessment if no incriminating material found during the course of search namely : - Jai Lokenath Oil Extraction P. Ltd. Vs. DCIT (2017) 166 ITD 161 (Kol – ITAT). CIT Vs. Deepak Kumar Agarwal (2017) 251 Taxman 22 (Bombay H.C.). Ratan Kumar Sharma Vs. DCIT (ITAT – JPR ITA No. 797/JP/2014 order dated 25-7-1). Recently Hon’ble Supreme Court vide order dated 02-07-2018 in Meeta Gutgutia Vs Pr. CIT (96 Taxmann.Com 468) have held that Invocation of section 153A to re- open concluded assessments…

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S HARI NARAIN PARWAL, HUF, JAIPUR

…ition of documents. There are various recent decisions on the issue that there can be no addition in respect to completed assessment if no incriminating material found during the course of search namely : - Jai Lokenath Oil Extraction P. Ltd. Vs. DCIT (2017) 166 ITD 161 (Kol – ITAT). CIT Vs. Deepak Kumar Agarwal (2017) 251 Taxman 22 (Bombay H.C.). Ratan Kumar Sharma Vs. DCIT (ITAT – JPR ITA No. 797/JP/2014 order dated 25-7-1). Recently Hon’ble Supreme Court vide order dated 02-07-2018 in Meeta Gutgutia Vs Pr. CIT (96 Taxmann.Com 468) have held that Invocation of section 153A to re- open concluded assessments…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JAIPUR vs. M/S KSHEER SAGAR DEVELOPERS PVT. LTD., JAIPUR

In the result, all these five appeals of the revenue are dismissed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita Nos. 1158 To 1162/Jp/2019 Assessment Years: 2011-12 To 2015-16 Deputy Commissioner Of Cuke M/S Ksheer Sagar Developers Vs. Income Tax, Pvt. Ltd., Central Circle-2, Hotel Royal Orchid, Opp.- Bsnl Jaipur. Office, Near Durgapura Flyover, Tonk Road, Jaipur-302018. Pan No.: Aacck 3154 G Vihykfkhz@Appellant Izr;Fkhz@Respondent Jktlo Dh Vksj Ls@ Revenue By : Shri Rajendra Singh (Cit-Dr) Fu/Kzkfjrh Dh Vksj Ls@ Assessee By: Shri S.R. Sharma, (Ca) & Shri Rajnikant Bhatra (Ca) Lquokbz Dh Rkjh[K@ Date Of Hearing : 06/07/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 31/08/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. These Are The Appeals Filed By The Revenue Against The Two Separate Orders Of The Ld. Cit(A)-4, Jaipur All Dated 31/07/2019 For The A.Y. 2011- 12 To 2015-16 Respectively.

…sition of documents. There are various recent decisions on the issue that there can be no addition in respect to completed assessment if no incriminating material found during the course of search namely : - Jai Lokenath Oil Extraction P. Ltd. Vs. DCIT (2017) 166 ITD 161 (Kol – ITAT). CIT Vs. Deepak Kumar Agarwal (2017) 251 Taxman 22 (Bombay H.C.). Ratan Kumar Sharma Vs. DCIT (ITAT – JPR ITA No. 797/JP/2014 order dated 25-7-1). 9. We have heard the ld. Counsels of both the parties and have perused the material placed on record. We have also deliberated upon the decisions cited in the orders passed by the authori…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JAIPUR vs. M/S KSHEER SAGAR DEVELOPERS PVT. LTD., JAIPUR

In the result, all these five appeals of the revenue are dismissed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita Nos. 1158 To 1162/Jp/2019 Assessment Years: 2011-12 To 2015-16 Deputy Commissioner Of Cuke M/S Ksheer Sagar Developers Vs. Income Tax, Pvt. Ltd., Central Circle-2, Hotel Royal Orchid, Opp.- Bsnl Jaipur. Office, Near Durgapura Flyover, Tonk Road, Jaipur-302018. Pan No.: Aacck 3154 G Vihykfkhz@Appellant Izr;Fkhz@Respondent Jktlo Dh Vksj Ls@ Revenue By : Shri Rajendra Singh (Cit-Dr) Fu/Kzkfjrh Dh Vksj Ls@ Assessee By: Shri S.R. Sharma, (Ca) & Shri Rajnikant Bhatra (Ca) Lquokbz Dh Rkjh[K@ Date Of Hearing : 06/07/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 31/08/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. These Are The Appeals Filed By The Revenue Against The Two Separate Orders Of The Ld. Cit(A)-4, Jaipur All Dated 31/07/2019 For The A.Y. 2011- 12 To 2015-16 Respectively.

…sition of documents. There are various recent decisions on the issue that there can be no addition in respect to completed assessment if no incriminating material found during the course of search namely : - Jai Lokenath Oil Extraction P. Ltd. Vs. DCIT (2017) 166 ITD 161 (Kol – ITAT). CIT Vs. Deepak Kumar Agarwal (2017) 251 Taxman 22 (Bombay H.C.). Ratan Kumar Sharma Vs. DCIT (ITAT – JPR ITA No. 797/JP/2014 order dated 25-7-1). 9. We have heard the ld. Counsels of both the parties and have perused the material placed on record. We have also deliberated upon the decisions cited in the orders passed by the authori…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JAIPUR vs. M/S KSHEER SAGAR DEVELOPERS PVT. LTD., JAIPUR

In the result, all these five appeals of the revenue are dismissed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita Nos. 1158 To 1162/Jp/2019 Assessment Years: 2011-12 To 2015-16 Deputy Commissioner Of Cuke M/S Ksheer Sagar Developers Vs. Income Tax, Pvt. Ltd., Central Circle-2, Hotel Royal Orchid, Opp.- Bsnl Jaipur. Office, Near Durgapura Flyover, Tonk Road, Jaipur-302018. Pan No.: Aacck 3154 G Vihykfkhz@Appellant Izr;Fkhz@Respondent Jktlo Dh Vksj Ls@ Revenue By : Shri Rajendra Singh (Cit-Dr) Fu/Kzkfjrh Dh Vksj Ls@ Assessee By: Shri S.R. Sharma, (Ca) & Shri Rajnikant Bhatra (Ca) Lquokbz Dh Rkjh[K@ Date Of Hearing : 06/07/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 31/08/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. These Are The Appeals Filed By The Revenue Against The Two Separate Orders Of The Ld. Cit(A)-4, Jaipur All Dated 31/07/2019 For The A.Y. 2011- 12 To 2015-16 Respectively.

…sition of documents. There are various recent decisions on the issue that there can be no addition in respect to completed assessment if no incriminating material found during the course of search namely : - Jai Lokenath Oil Extraction P. Ltd. Vs. DCIT (2017) 166 ITD 161 (Kol – ITAT). CIT Vs. Deepak Kumar Agarwal (2017) 251 Taxman 22 (Bombay H.C.). Ratan Kumar Sharma Vs. DCIT (ITAT – JPR ITA No. 797/JP/2014 order dated 25-7-1). 9. We have heard the ld. Counsels of both the parties and have perused the material placed on record. We have also deliberated upon the decisions cited in the orders passed by the authori…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JAIPUR vs. M/S KSHEER SAGAR DEVELOPERS PVT. LTD., JAIPUR

In the result, all these five appeals of the revenue are dismissed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita Nos. 1158 To 1162/Jp/2019 Assessment Years: 2011-12 To 2015-16 Deputy Commissioner Of Cuke M/S Ksheer Sagar Developers Vs. Income Tax, Pvt. Ltd., Central Circle-2, Hotel Royal Orchid, Opp.- Bsnl Jaipur. Office, Near Durgapura Flyover, Tonk Road, Jaipur-302018. Pan No.: Aacck 3154 G Vihykfkhz@Appellant Izr;Fkhz@Respondent Jktlo Dh Vksj Ls@ Revenue By : Shri Rajendra Singh (Cit-Dr) Fu/Kzkfjrh Dh Vksj Ls@ Assessee By: Shri S.R. Sharma, (Ca) & Shri Rajnikant Bhatra (Ca) Lquokbz Dh Rkjh[K@ Date Of Hearing : 06/07/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 31/08/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. These Are The Appeals Filed By The Revenue Against The Two Separate Orders Of The Ld. Cit(A)-4, Jaipur All Dated 31/07/2019 For The A.Y. 2011- 12 To 2015-16 Respectively.

…sition of documents. There are various recent decisions on the issue that there can be no addition in respect to completed assessment if no incriminating material found during the course of search namely : - Jai Lokenath Oil Extraction P. Ltd. Vs. DCIT (2017) 166 ITD 161 (Kol – ITAT). CIT Vs. Deepak Kumar Agarwal (2017) 251 Taxman 22 (Bombay H.C.). Ratan Kumar Sharma Vs. DCIT (ITAT – JPR ITA No. 797/JP/2014 order dated 25-7-1). 9. We have heard the ld. Counsels of both the parties and have perused the material placed on record. We have also deliberated upon the decisions cited in the orders passed by the authori…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JAIPUR vs. M/S KSHEER SAGAR DEVELOPERS PVT. LTD., JAIPUR

In the result, all these five appeals of the revenue are dismissed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita Nos. 1158 To 1162/Jp/2019 Assessment Years: 2011-12 To 2015-16 Deputy Commissioner Of Cuke M/S Ksheer Sagar Developers Vs. Income Tax, Pvt. Ltd., Central Circle-2, Hotel Royal Orchid, Opp.- Bsnl Jaipur. Office, Near Durgapura Flyover, Tonk Road, Jaipur-302018. Pan No.: Aacck 3154 G Vihykfkhz@Appellant Izr;Fkhz@Respondent Jktlo Dh Vksj Ls@ Revenue By : Shri Rajendra Singh (Cit-Dr) Fu/Kzkfjrh Dh Vksj Ls@ Assessee By: Shri S.R. Sharma, (Ca) & Shri Rajnikant Bhatra (Ca) Lquokbz Dh Rkjh[K@ Date Of Hearing : 06/07/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 31/08/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. These Are The Appeals Filed By The Revenue Against The Two Separate Orders Of The Ld. Cit(A)-4, Jaipur All Dated 31/07/2019 For The A.Y. 2011- 12 To 2015-16 Respectively.

…sition of documents. There are various recent decisions on the issue that there can be no addition in respect to completed assessment if no incriminating material found during the course of search namely : - Jai Lokenath Oil Extraction P. Ltd. Vs. DCIT (2017) 166 ITD 161 (Kol – ITAT). CIT Vs. Deepak Kumar Agarwal (2017) 251 Taxman 22 (Bombay H.C.). Ratan Kumar Sharma Vs. DCIT (ITAT – JPR ITA No. 797/JP/2014 order dated 25-7-1). 9. We have heard the ld. Counsels of both the parties and have perused the material placed on record. We have also deliberated upon the decisions cited in the orders passed by the authori…