SHRI AMBICA GARMENTS, JODHPUR,JODHPUR vs. ACIT, CENTAL CIRCLE-3, JAIPUR, JAIPUR

In the result, all appeals of the assessee are disposed off in terms of

unexplained and that the substantial entries are matching in the ledger account in Jai Shree Ram and Ambika Garments. Accordingly the addition of Rs. 2,56,996 made w.r.t. Kotak Bank Loan is hereby directed to be deleted. In view of the above, this ground of appeal is partly allowed. 6. Ground of Appeal No. 4 is as under: Ground

SANJAY KUMAR KARNANI,JAIPUR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result, all appeals of the assessee are disposed off in terms of

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

unexplained and that the substantial entries are matching in the ledger account in Jai Shree Ram and Ambika Garments. Accordingly the addition of Rs. 2,56,996 made w.r.t. Kotak Bank Loan is hereby directed to be deleted. In view of the above, this ground of appeal is partly allowed. 6. Ground of Appeal No. 4 is as under: Ground

SHRI AMBICA GARMENTS, JODHPUR,JODHPUR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result, all appeals of the assessee are disposed off in terms of

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

unexplained and that the substantial entries are matching in the ledger account in Jai Shree Ram and Ambika Garments. Accordingly the addition of Rs. 2,56,996 made w.r.t. Kotak Bank Loan is hereby directed to be deleted. In view of the above, this ground of appeal is partly allowed. 6. Ground of Appeal No. 4 is as under: Ground

SHRI AMBICA GARMENTS, JODHPUR,JODHPUR vs. ACIT, CENTAL CIRCLE-3, JAIPUR, JODHPUR

In the result, all appeals of the assessee are disposed off in terms of

unexplained and that the substantial entries are matching in the ledger account in Jai Shree Ram and Ambika Garments. Accordingly the addition of Rs. 2,56,996 made w.r.t. Kotak Bank Loan is hereby directed to be deleted. In view of the above, this ground of appeal is partly allowed. 6. Ground of Appeal No. 4 is as under: Ground

INCOME TAX OFFICER, JAIPUR vs. GOLDENDUNES HEIGHTS LLP, JAIPUR

Bench: Him.

cash credit u/s. 68 of the Act, and added back to the total income of the assessee. 3.3 As the loan received from the above parties remained unexplained, therefore, the interest of Rs.1,35,43,168/- related to this unexplained loan also remained unexplained, therefore, the same was also not considered as allowable. The assessee has debited these expenses

RADHAKISHAN BENIWAL,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1, JAIPUR, JAIPUR

In the result, the appeal filed by the assessee in ITA no

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

unexplained cash credit simultaneously. … 9.6. We also note that the provisions of section 68 cannot be applied in relation to the sales receipt shown by the assessee in its books of accounts. It is because the sales receipt has already been shown in the books of accounts as income at the time of sale only.” • Dewas Soya Ltd, Ujjain

RADHAKISHNA BENIWAL,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1, JAIPUR, JAIPUR

In the result, the appeal filed by the assessee in ITA no

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

unexplained cash credit simultaneously. … 9.6. We also note that the provisions of section 68 cannot be applied in relation to the sales receipt shown by the assessee in its books of accounts. It is because the sales receipt has already been shown in the books of accounts as income at the time of sale only.” • Dewas Soya Ltd, Ujjain

M/S STANFORD DEVELOPERS,NEEMRANA ALWAR vs. INCOME TAX OFFICER , BEHROR

In the result, the appeal filed by the assessee is partly allowed

Bench: Him.

Cash credits. 68. Where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source thereof or the explanation offered by him is not, in the opinion of the 37 M/s Stanford Developers, Alwar. Assessing Officer, satisfactory, the sum so credited may be charged

JAGDISH PRASAD DHAKA,JAIPUR vs. DCIT, CIRCLE-1, JAIPUR

In the result, the appeal of the assessee is allowed for statistical purposes

cash credit of Rs. 31,94,100/- is added back in his total income. Penalty proceedings 271(1)(c) are initiated separately for concealment of income. 7.Disallowance of expenses in license fees and vendor fees: The assessee has claimed expenses of license fees at Rs.18,00,000/- and vendor fees of Rs.26,00,000/-, The assessee was asked to file

RAJENDRA KUMAR AGRAWAL,JAIPUR vs. ACIT CEN CIR 1 , C-SCHEME, JAIPUR

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

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

unexplained cash credit. d. DCIT Vs. Rohini Builders [2003] 127 Taxman 523 (Gujarat) Held: The genuineness of the transaction was proved by the fact that the payment to the assessee as well as repayment of the loan by the assessee to the depositors was 17 Rajendra Kumar Agrawal vs. ACIT made by account payee cheques and the interest was also

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA vs. M/S KOTA DALL MILL, KOTA

unexplained cash credit when there is no material or evidence to review his own decision. The AO has made the additions under section 68 on account of unsecured loans by applying peak credit theory. The ld. A/R has submitted that the assessee has duly discharged its burden cast under section 68 of the Act by providing identity, creditworthiness and genuineness

M/S KOTA DALL MILL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA

unexplained cash credit when there is no material or evidence to review his own decision. The AO has made the additions under section 68 on account of unsecured loans by applying peak credit theory. The ld. A/R has submitted that the assessee has duly discharged its burden cast under section 68 of the Act by providing identity, creditworthiness and genuineness

M/S KOTA DALL MILL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA

unexplained cash credit when there is no material or evidence to review his own decision. The AO has made the additions under section 68 on account of unsecured loans by applying peak credit theory. The ld. A/R has submitted that the assessee has duly discharged its burden cast under section 68 of the Act by providing identity, creditworthiness and genuineness

M/S KOTA DALL MILL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA

unexplained cash credit when there is no material or evidence to review his own decision. The AO has made the additions under section 68 on account of unsecured loans by applying peak credit theory. The ld. A/R has submitted that the assessee has duly discharged its burden cast under section 68 of the Act by providing identity, creditworthiness and genuineness

DY. COMMISSIONER OF INCOME TAX, KOTA vs. MOTION EDUCATION PVT. LTD., KOTA

In the result, the appeals of the revenue stands dismissed, and the

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, आयकर अपील सं. / ITA Nos.472 & 455/JP/2025 निर्धारण वर्ष / Assessment Years : 2017-18 & 2018-19 DCIT, Central Circle, Kota बनाम Vs. Motion Education Limited, 394, Rajeev Gandhi Nagar, Kota Private स्थायी लेखा सं. / जीआईआर सं./PAN/GIR No.: AAICM4637L अपीलार्थी / Appellant प्रत्यर्थी / Respondent Motion Limited, CO. Nos.20 & 21/JP/2025 (Arising out of ITA. Nos.472 & 455/JP/2025) निर्धारण वर्ष / Assessment Years : 2017-18 &

cash deposits. 13. It is reiterated that there is no dispute with regard to the fact that the assessee has maintained books of account and as per cash book, cash receipts against student fees are supported by necessary service tax invoices. There is a fundamental mistake in assessing the business receipt as unexplained money taxable

INCOME TAX OFFICER, JAIPUR vs. POOJA KEDIA, JAIPUIR

In the result, the appeal of the revenue is dismissed

unexplained cash credit. Thus\napproach taken by the AO is not justified. As such the AO failed to appreciate the\nfacts, evidence provided, and case laws relied upon by the assessee company.\nAssessee company has taken loan through banking channel and repaid the same in\nthe next year along with interest through banking channel and deducted TDS

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, AJMER vs. M/S SHREE BHAGWATI MACHINE PVT. LTD., AJMER

In the results appeal of the revenue in ITA no

unexplained cash credits of the assessee company and benefit of payment was not extended to the assessee without proper verification. Therefore, total receipts were added in respective A.YS 2014-15 to 2019-20. i) Further in A.Y.2015-16, on perusal of P & L A/C, it is found that an amount of Rs. 13,48,320/- was debited on account of rent

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, AJMER vs. M/S SHREE BHAGWATI MACHINE PVT. LTD., AJMER

In the results appeal of the revenue in ITA no

unexplained cash credits of the assessee company and benefit of payment was not extended to the assessee without proper verification. Therefore, total receipts were added in respective A.YS 2014-15 to 2019-20. i) Further in A.Y.2015-16, on perusal of P & L A/C, it is found that an amount of Rs. 13,48,320/- was debited on account of rent