DCIT, CC-2, JAIPUR vs. M/S. ROYAL JEWELLERS, JAIPUR

In the result, appeals of the revenue stands dismissed

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

purchaser also was unearthed and exact amount of income escaped from assessment was supported by ample evidence- Whether therefore, no ground could be taken that other material which were already available with Department could not be relied on in proceedings- Held, yes [Paras 13, 21 and 22] [In favour of revenue]" (X) The ld AR has placed reliance

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. SAPNA KARNANI, TONK PHATAK

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

sections 153A and 153C of the Act.”\niv.The Hon'ble Delhi High Court in the case of PCIT (Central) vs Agson Global Pvt\nLtd "dismissed a bunch of appeals against deletion of addition u/s 68 towards\nShare capital/ share premium, bogus purchases

INCOME TAX OFFICER , SIKAR vs. BHASKAR CHAUHAN, JAIPUR

In the result the appeal of the revenue in ITA no

Bench: Him.

153A or 153C in the absence of any incriminating material pertaining to the appellant found during course of search under section 132 or requisition under section 132A. However third party information from sources other than seized material belonging to the appellant, shall be relied upon by the assessing officer to complete assessment u/s 143 rws 144. As a result, ground

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. SAPNA KARNANI, TONK PHATAK

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

sections 153A and 153C of the Act.”\n\niv.The Hon'ble Delhi High Court in the case of PCIT (Central) vs Agson Global Pvt\nLtd \"dismissed a bunch of appeals against deletion of addition u/s 68 towards\nShare capital/ share premium, bogus purchases

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. SAPNA KARNANI, TONK PHATAK

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

sections 153A and 153C of the Act.”\niv.The Hon'ble Delhi High Court in the case of PCIT (Central) vs Agson Global Pvt\nLtd \"dismissed a bunch of appeals against deletion of addition u/s 68 towards\nShare capital/ share premium, bogus purchases

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. SAPNA KARNANI, TONK PHATAK

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

sections 153A and 153C of the Act.” iv. The Hon’ble Delhi High Court in the case of PCIT (Central) vs Agson Global Pvt Ltd “dismissed a bunch of appeals against deletion of addition u/s 68 towards Share capital/ share premium, bogus purchases

SH. KAPIL TANEJA,JAIPUR vs. THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

Bogus purchase) - Certain portion of purchases made by assessee was disallowed - Commissioner (Appeals) found that entire disallowance was based on third party information gathered by Investigation Wing of Department, which had not been independently subjected to further verification by Assessing Officer and he had not provided copy of such statements to appellant, thus, denying opportunity of cross examination to appellant

BHASKAR CHOUHAN,JAIPUR vs. INCOME TAX OFFICER, SIKAR

153A or 153C in the absence of any incriminating\nmaterial pertaining to the appellant found during course of search under\nsection 132 or requisition under section 132A. However third party\ninformation from sources other than seized material belonging to the\nappellant, shall be relied upon by the assessing officer to complete\nassessment u/s 143 rws 144. As a result, ground

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. KARNANI SOLVEX PRIVATE LIMITED, JAIPUR

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

purchasing and\nselling the goods from /to Kolkata therefore we have a large number of contacts\nthere and it was easier for us to arrange loans there from. Therefore, in the\nAnswer to Q.No. 33 of statements of Shri Sanjay Karnani, there is no such fact as\nobserved by the Ld. AO\n\nIn response to subsequent Questions also, Shri

DINESH HALDIA,JAIPUR vs. DCIT CIRCLE 1, JAIPUR, JAIPUR

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

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

purchase bills amounting to Rs.13.59 crores from various entry providers, who provided bogus sale bills without supplying the goods mentioned in the bills. After search (20.05.2009) the case of the assesssee was centralized with ACIT, Central Circle-1, Jaipur, who issued notice under Section-153A

GEMCO INTERNATIONAL,JAIPUR vs. INCOME TAX OFFICER WARD 2(1), JAIPUR

In the result, the appeal filed by the assessee stands partly allowed with no order as to cost

Bench: SHRI SANDEEP GOSAIN (Judicial Member)

section 153A of the Income Tax Act. On analysing the orders passed by the revenue authorities, I found that ld. CIT(A) dismissed this ground raised by the assessee by mentioning that Assessee was one of the beneficiary of bogus purchases

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. VIDHUSHI KOTHARI, JAIPUR

In the result, this appeal of the Revenue is dismissed

purchase and sale of shares\n• The fact that SEBI categorized HPC Biosciences Limited as a penny stock used for accommodation entries.\n4.4C Sustainability of the Additions as Incriminating Material\n1. FDRs as Incriminating Material:\n• The discovery of FDRs during the e search is directly linked to unexplained income, fulfilling the requirement for incriminating material under Section 1523A

ACIT, JAIPUR vs. UDAI BUILDHOME PVT LTD, JAIPUR

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

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, JM आयकर अपील सं. / ITA Nos.1399, 1400, 1401 & 1486/JP/2024 निर्धारण वर्ष / Assessment Years : 2014-15, 2015-16, 2017-18 & 2018-19 Asstt. Commissioner of Income Tax, Central Circle-02, Jaipur बनाम Vs. M/s Udai Buildhome Pvt. Ltd. 302, Golden Sunrise Apartment, Lajpat Marg, C- Scheme, Jaipur स्थायी लेखा सं. / जीआईआर सं./PAN/GIR No.: AABCU 5068 J अपीलार्थी / Appellant निर्धारिती की ओर से / Assessee by: प्रत्यर्थी / Respond

153A of I.T. Act. (v) From the perusal of the satisfaction note of the assessing authority recorded before the issuance of the present notice under section 153C of the Act it is noticed that it is a combined satisfaction note for the AYS 2012-13 to 2017-18 and the satisfaction was recorded with respect to the seized documents regarding

ACIT, JAIPUR vs. UDAI BUILDHOME PVT LTD, JAIPUR

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

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM आयकर अपील सं. / ITA Nos.1399, 1400, 1401 & 1486/JP/2024 निर्धारण वर्ष / Assessment Years : 2014-15, 2015-16, 2017-18 & 2018-19 Asstt. Commissioner of Income बनाम M/s Udai Buildhome Pvt. Tax, Vs. Ltd. 302, Golden Sunrise Central Circle-02, Jaipur Apartment, Lajpat Marg, C- Scheme, Jaipur स्थायी लेखा सं. / जीआईआर सं./PAN/GIR No.: AABCU 5068 J अपीलार्थी / Appellant प्रत्यर्थी / Respondent निर्धारिती की ओर से / Assessee

153A of I.T. Act. (v) From the perusal of the satisfaction note of the assessing authority recorded before the issuance of the present notice under section 153C of the Act it is noticed that it is a combined satisfaction note for the AYS 2012-13 to 2017-18 and the satisfaction was recorded with respect to the seized documents regarding

SHRI KHANDELWAL DIAMONDS PRIVATE LIMITED,JAIPUR vs. ACIT, CIRCLE 1, JAIPUR, JAIPUR

In the result, appeal of the assessee is partly allowed

Bench: Him On The Reason Of Issuing Notice U/S 148 On Borrowed Satisfaction Of Another Wing Of The Department.

bogus purchase bills pertains to diamonds [ bills at page 4,13 & 24 ]. The profit in this diamond business computed at page 41 comes to 5.96 % as computed here in below : Sales of Diamond Rs. 3,19,10,125/- Closing stock of Diamond Rs. 29,93,033/- Total Rs. 3,49,03,158/- Purchase of Diamond

PRAMILA AGARWAL,JAIPUR vs. THE INCOME TAX OFFICER WARD-2(5), JAIPUR

In the result, the appeal of the assessee is allowed

153A, 153C and 147/148\nof the Act as well as a consistent view taken by this Tribunal in a series of decision\ncited (supra) we hold that the assessment or reassessment of income of the person\nother than search persons based on seized material can be only made u/s 153C\nr.w.s.153A and the provisions of section 147/148

SHIVAM READYMIX PRIVATE LIMITED,NEEMUCH vs. THE PCIT(CENTRAL), JAIPUR

In the result, the appeal of the assessee is allowed

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

bogus purchases as compared to G.P. on normal purchases In the present case also, since the ld. AO has examined the profit worked out on unaccounted purchases and has accepted such working prepared by assessee by observing that : “It is also submitted that assessee company has now offered the additional undisclosed income based on GP rate of its business activity

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

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

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

section 132(1) of the Act was carried out on 13-06- 2019 at the various premises of Dewan Group. The assessee derives income from Business or Profession and Other Source during the year under consideration. Consequent to search action, notice u/s. 153A of the Act was issued to the assessee on 04-03-2021 which was duly served