INCOME TAX OFFICER, WARD-1, BEAWAR vs. SHRI MANOJ AMAR CHAND TAILOR, MASUDA BIJAINAGAR

In the result, the appeal filed by the Revenue is dismissed

bogus purchases = Rs. 22,21,78,361 * 15%). Ld. CIT(A) restricted the disallowance to Rs. 30,13,471 (Total purchases = Rs.60,26,94,181* 0.5%) 2. Submission 2.1. The assessee for the year under consideration was liable to get his accounts audited as per the provisions of Section

NARAIN LAL AGRAWAL,JAIPUR vs. DCIT CIRCLE 1 JAIPUR, JAIPUR

In the result the appeal of the assessee is allowed

bogus gifts are also brought to tax under\nthis provision.... Thus, in view of above discussion, we are of the view that this\nprovision applies to the transactions where undisclosed/unaccounted Income of a\nperson is brought in his hand by way of purported gifts.”\nIt is submitted that in the instant case, party from whom assessee has purchased\nthe property

AJAY BAKLIWAL,KOTA vs. ACIT, CENTRAL CIRCLE, KOTA, KOTA

bogus claim in the return filed. However, the question\nto be considered was whether the assessee could be the beneficiary of its own\nfraud or mistake and whether the Assessing Officer was prevented from correcting\nthe same under section 147. It was to be noted that the Explanation to section\n147(2) specifically provides that the excessive relief granted under

DCIT, CIRCLE-4, JAIPUR vs. M/S KANDOI METAL POWDERS MANUFACTURING COMPANY PVT. LTD., JAIPUR

In the result, both the appeals are partly allowed

15. The departmental representative supported the findings of the assessing officer and vehemently argued that the assessee is engaged in the bogus purchases and thereby inflating their purchase and thereby reducing the profit. The ld. DR further draw our attention to the findings of the AO recorded at para 7 of his order, wherein he has discussed various aspect

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

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

2 and others-JP-2025\nDCIT vs. Vaibhav Banka and others\nassessee one of the member of \"Dewan Group had claimed Long Term\nCapital Gain u/s 10(38) of Act for an amount of Rs.40,15,061.29.\nLd. AO went on examination that various persons of \"Dewan Group\"\nhad initially purchased the shares of M/s. Anax Com Trade

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

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

15,061/- made by the Assessing Officer\ndisallowing the exemption of Long Term Capital Gains on account of unexplained\ncredits u/s 68 of the IT Act 1961.\n2. Whether on facts and in circumstances of the case and in law, the Ld.\nCIT(A) is justified in deleting the addition of 2,05,753/- made by the AO on account

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

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

15,061/- made by the Assessing Officer\ndisallowing the exemption of Long Term Capital Gains on account of unexplained\ncredits u/s 68 of the IT Act 1961.\n2. Whether on facts and in circumstances of the case and in law, the Ld.\nCIT(A) is justified in deleting the addition of 2,05,753/- made by the AO on account

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

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

15,061/- made by the Assessing Officer\ndisallowing the exemption of Long Term Capital Gains on account of unexplained\ncredits u/s 68 of the IT Act 1961.\n2. Whether on facts and in circumstances of the case and in law, the Ld.\nCIT(A) is justified in deleting the addition of 2,05,753/- made by the AO on account

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

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

15,061/- made by the Assessing Officer\ndisallowing the exemption of Long Term Capital Gains on account of unexplained\ncredits u/s 68 of the IT Act 1961.\n2. Whether on facts and in circumstances of the case and in law, the Ld.\nCIT(A) is justified in deleting the addition of 2,05,753/- made by the AO on account

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

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

15,061/- made by the Assessing Officer\ndisallowing the exemption of Long Term Capital Gains on account of unexplained\ncredits u/s 68 of the IT Act 1961.\n2. Whether on facts and in circumstances of the case and in law, the Ld.\nCIT(A) is justified in deleting the addition of 2,05,753/- made by the AO on account

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

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

15,061/- made by the Assessing Officer\ndisallowing the exemption of Long Term Capital Gains on account of unexplained\ncredits u/s 68 of the IT Act 1961.\n2. Whether on facts and in circumstances of the case and in law, the Ld.\nCIT(A) is justified in deleting the addition of 2,05,753/- made by the AO on account

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

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

15,061/- made by the Assessing Officer\ndisallowing the exemption of Long Term Capital Gains on account of unexplained\ncredits u/s 68 of the IT Act 1961.\n2.\nWhether on facts and in circumstances of the case and in law, the Ld.\nCIT(A) is justified in deleting the addition of 2,05,753/- made by the AO on account

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

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

15,061/- made by the Assessing Officer\ndisallowing the exemption of Long Term Capital Gains on account of unexplained\ncredits u/s 68 of the IT Act 1961.\n2. Whether on facts and in circumstances of the case and in law, the Ld.\nCIT(A) is justified in deleting the addition of 2,05,753/- made by the AO on account

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

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

15,061/- made by the Assessing Officer\ndisallowing the exemption of Long Term Capital Gains on account of unexplained\ncredits u/s 68 of the IT Act 1961.\n2.\nWhether on facts and in circumstances of the case and in law, the Ld.\nCIT(A) is justified in deleting the addition of 2,05,753/- made by the AO on account

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

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

15,061/- made by the Assessing Officer\ndisallowing the exemption of Long Term Capital Gains on account of unexplained\ncredits u/s 68 of the IT Act 1961.\n2. Whether on facts and in circumstances of the case and in law, the Ld.\nCIT(A) is justified in deleting the addition of 2,05,753/- made by the AO on account

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

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

15,061/- made by the Assessing Officer\ndisallowing the exemption of Long Term Capital Gains on account of unexplained\ncredits u/s 68 of the IT Act 1961.\n\n2.\nWhether on facts and in circumstances of the case and in law, the Ld.\nCIT(A) is justified in deleting the addition of 2,05,753/- made

M/S CLARITY GOLD P. LTD, JAIPUR,JAIPUR vs. ACIT, CENTRAL CIRCLE-1, JAIPUR

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

15,03,42,985/- which are only book entries for purchase and not reconciled with stock.” 2. The facts of the case are that assessee company derives income from business of manufacturing of jewellery and trading of gem stones. A search & seizure operation under section 132(1) of the I.T. Act, 1961 was carried out on 20.5.2009 at the business

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)

15 Dinesh Haldia vs. DCIT So far as the question of deduction of purchases from the corresponding sales are concerned, we may mention that the applicant being a manufacturer of chuni-bhusi and purchases having been found to be bogus and there is no other purchases of chuni-bhusi, the benefit of deduction of such purchases has rightly been disallowed