LATE SHRI JITENDRA NAGAR THROUGH HIS L/R SMT. DEEPIKA NAGAR,BARAN vs. INCOME TAX OFFICER WARD BARAN, BARAN

In the result, appeal of the assessee is allowed

Bench: The Date Of Hearing.”

149 of the Act. Accordingly, we are of the considered view that notice issued under section 148 of the Act on 29.07.2022 is void ab initio and bad in law. Therefore, the same is quashed. Consequently, the entire re-assessment proceedings and assessment order passed under section 147 r.w. section 144B of the Act are also quashed

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. SARITA DEWAN, SIKAR

In the result, the appeals of the revenue in ITA No

149 taxmann.com and the CBDT Instruction\nNo. 1 of 2023 dated 23.8.2023 on the subject Implementation of the judgment of\nthe Honorable Supreme Court in the case of Abhisar Buildwell (Supra). The action\nof the Id. CIT(A) is illegal, unjustified, arbitrary, and against the facts of the case.\nRelief may please be granted by quashing the directions

DCIT, CENTRAL CIRCLE-1, JAIPUR , JAIPUR vs. USHA BANKA, SIKAR

In the result, the appeals of the revenue in ITA No

149 taxmann.com and the CBDT Instruction\nNo. 1 of 2023 dated 23.8.2023 on the subject Implementation of the judgment of\nthe Honorable Supreme Court in the case of Abhisar Buildwell (Supra). The action\nof the Id. CIT(A) is illegal, unjustified, arbitrary, and against the facts of the case.\nRelief may please be granted by quashing the directions

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. SNEHLATA AGARWAL, SIKAR

In the result, the appeals of the revenue in ITA No

149 taxmann.com and the CBDT Instruction\nNo. 1 of 2023 dated 23.8.2023 on the subject Implementation of the judgment of\nthe Honorable Supreme Court in the case of Abhisar Buildwell (Supra). The action\nof the Id. CIT(A) is illegal, unjustified, arbitrary, and against the facts of the case.\nRelief may please be granted by quashing the directions

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. PRIYA DEWAN, SIKAR

In the result, the appeals of the revenue in ITA No

149 taxmann.com and the CBDT Instruction\nNo. 1 of 2023 dated 23.8.2023 on the subject Implementation of the judgment of\nthe Honorable Supreme Court in the case of Abhisar Buildwell (Supra). The action\nof the Id. CIT(A) is illegal, unjustified, arbitrary, and against the facts of the case.\nRelief may please be granted by quashing the directions

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. SARITA DEWAN, SIKAR

In the result, the appeals of the revenue in ITA No

149 taxmann.com and the CBDT Instruction\nNo. 1 of 2023 dated 23.8.2023 on the subject Implementation of the judgment of\nthe Honorable Supreme Court in the case of Abhisar Buildwell (Supra). The action\nof the Id. CIT(A) is illegal, unjustified, arbitrary, and against the facts of the case.\nRelief may please be granted by quashing the directions

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. SUBHASH CHANDRA BANKA, SIKAR

In the result, the appeals of the revenue in ITA No

149 taxmann.com and the CBDT Instruction\nNo. 1 of 2023 dated 23.8.2023 on the subject Implementation of the judgment of\nthe Honorable Supreme Court in the case of Abhisar Buildwell (Supra). The action\nof the Id. CIT(A) is illegal, unjustified, arbitrary, and against the facts of the case.\nRelief may please be granted by quashing the directions

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. PRIYA DEWAN, SIKAR

In the result, the appeals of the revenue in ITA No

149 taxmann.com and the CBDT Instruction\nNo. 1 of 2023 dated 23.8.2023 on the subject Implementation of the judgment of\nthe Honorable Supreme Court in the case of Abhisar Buildwell (Supra). The action\nof the Id. CIT(A) is illegal, unjustified, arbitrary, and against the facts of the case.\nRelief may please be granted by quashing the directions

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. USHA BANKA, SIKAR

In the result, the appeals of the revenue in ITA No

149 taxmann.com and the CBDT Instruction\nNo. 1 of 2023 dated 23.8.2023 on the subject Implementation of the judgment of\nthe Honorable Supreme Court in the case of Abhisar Buildwell (Supra). The action\nof the Id. CIT(A) is illegal, unjustified, arbitrary, and against the facts of the case.\nRelief may please be granted by quashing the directions

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. TRILOK DEWAN, SIKAR

In the result, the appeals of the revenue in ITA No

149 taxmann.com and the CBDT Instruction\nNo. 1 of 2023 dated 23.8.2023 on the subject Implementation of the judgment of\nthe Honorable Supreme Court in the case of Abhisar Buildwell (Supra). The action\nof the Id. CIT(A) is illegal, unjustified, arbitrary, and against the facts of the case.\nRelief may please be granted by quashing the directions

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. VIPUL BANKA, SIKAR

In the result, the appeals of the revenue in ITA No

149 taxmann.com and the CBDT Instruction\nNo. 1 of 2023 dated 23.8.2023 on the subject Implementation of the judgment of\nthe Honorable Supreme Court in the case of Abhisar Buildwell (Supra). The action\nof the Id. CIT(A) is illegal, unjustified, arbitrary, and against the facts of the case.\nRelief may please be granted by quashing the directions

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. ANIMESH AGARWAL, SIKAR

In the result, the appeals of the revenue in ITA No

149 taxmann.com and the CBDT Instruction\nNo. 1 of 2023 dated 23.8.2023 on the subject Implementation of the judgment of\nthe Honorable Supreme Court in the case of Abhisar Buildwell (Supra). The action\nof the Id. CIT(A) is illegal, unjustified, arbitrary, and against the facts of the case.\nRelief may please be granted by quashing the directions

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. SNEHLATA AGARWAL, SIKAR

In the result, the appeals of the revenue in ITA No

149 taxmann.com and the CBDT Instruction\nNo. 1 of 2023 dated 23.8.2023 on the subject Implementation of the judgment of\nthe Honorable Supreme Court in the case of Abhisar Buildwell (Supra). The action\nof the Id. CIT(A) is illegal, unjustified, arbitrary, and against the facts of the case.\nRelief may please be granted by quashing the directions

RAGHAV COMMODITIES,JAIPUR vs. ITO WARD 6(2), JAIPUR

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

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

bogus by ld.AO) cannot be treated as “asset” by any stretch of imagination. It is further submitted that such loss was incurred by assessee while carrying out trading transactions in stock exchange thus it cannot even be held as erosion of any asset as alleged. Without prejudice to above explanation to section 149(1) (b) does not include any term

BHASKAR CHOUHAN,JAIPUR vs. INCOME TAX OFFICER, SIKAR

b) any books of account or documents, seized or requisitioned,\npertains or pertain to, or any information contained therein, relates\nto,\nA person other than the person referred to in section 153A, then, the\nbooks of account or documents or assets, seized or requisitioned shall\nbe handed over to the Assessing Officer having jurisdiction over such\nother person and that

INCOME TAX OFFICER , SIKAR vs. BHASKAR CHAUHAN, JAIPUR

In the result the appeal of the revenue in ITA no

Bench: Him.

b) any books of account or documents, seized or requisitioned, pertains or pertain to, or any information contained therein, relates to, A person other than the person referred to in section 153A, then, the books of account or documents or assets, seized or requisitioned shall be handed over to the Assessing Officer having jurisdiction over such other person and that

SH. HARI PRAKASH GUPTA,JAIPUR vs. ITO, WARD-1(2), JAIPUR, JAIPUR

The appeal stands allowed

Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

purchase and sale of real estate and flats, it was held that the direction of the Tribunal to the AO to take 25% of the sale proceeds received in cash as assessee's income rather than making addition of entire amount of sale proceeds received in cash is sustainable. In such cases, not the entire receipt but only the profit

SH. HARI PRAKASH GUPTA,JAIPUR vs. ITO, WARD-1(2), JAIPUR, JAIPUR

purchase and sale of real\nestate and flats, it was held that the direction of the Tribunal to the AO to take\n25% of the sale proceeds received in cash as assessee's income rather than\nmaking addition of entire amount of sale proceeds received in cash is\nsustainable. In such cases, not the entire receipt but only the profit

SH. MUKUT BEHARI AGARWAL,JAIPUR vs. THE DCIT, CIRCLE 1, JAIPUR

In the result, the appeals of the assessee is allowed as indicated hereinabove

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

149 and or which may be available under the Finance Act, 2021 and in law and whatever rights are available to the Assessing Officer under the Finance Act. 2021 are kept open and/or shall continue to be available’’ The ld. AR thus submitted that reopening of assessment in present case is barred by limitation and reassessment order so passed deserves