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.

Section 147/148 of the Act to reopen the assessments for the AYs in question does not satisfy the requirement of law.". The facts of the present case are exactly similar to above cited four cases and hence it is sincerely requested that the whole proceedings u/s 147 may kindly be declared void ab initio and the order so passed

JAJOO RASHMI REFRACTORIES LIMITED,JAIPUR, RAJASTHAN vs. DCIT, CIRCLE 4-JAIPUR,, JAIPUR, RAJASTHAN

In the result, the appeal of the assessee is allowed for\nstatistical purposes

bogus purchase of Rs.1,82,05,040/-. The assessee failed to\ngive a reply and provide any required details. Hence, the A.O. completed the\nassessment and passed order u/s.147/144B of the Income-tax Act dated\n29.03.2023 Assessing total Income at Rs.2,15,71,990/-\n5.2 It is further noted and as detailed in preceding para above that during the\nappellate

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)

250 ITR 575 (Del) referred) PCIT vs. Pinaki D. Panani (Bombay High Court) ITA No. 1543 of 2017 S. 68/ 69C Bogus purchases: Even if the purchases made by the assessee are to be treated as bogus, it does not mean that entire amount can be disallowed. As the AO did not dispute the consumption of the raw materials

GOVINDAM EXPORT,JAIPUR, RAJASTHAN vs. DCIT, CIRCLE-1, JAIPUR, RAJASTHAN

250/- being 25% of purchases of Rs.\n14,25,000/- (iv) directing to tax the same as income from other sources\nand (iv) holding that assessee paid 25% of doubtful purchases through\nundisclosed cash/undisclosed source.\n4\nThe appellant prays for leave to Add, to amend, to delete, or modify the\nall or any grounds of appeal on or before

GOVINDAM EXPORT,JAIPUR, RAJASTHAN vs. DCIT, CIRCLE-1, JAIPUR, RAJASTHAN

250/- being 25% of purchases of Rs.\n14,25,000/- (iv) directing to tax the same as income from other sources\nand (iv) holding that assessee paid 25% of doubtful purchases through\nundisclosed cash/undisclosed source.\n4 The appellant prays for leave to Add, to amend, to delete, or modify the\nall or any grounds of appeal on or before

GOVINDAM EXPORT,JAIPUR, RAJASTHAN vs. DCIT, CIRCLE-1, JPR, JAIPUR, RAJASTHAN

In the results all the appeals filed by the assessee ITA Nos

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

250/- being 25% of purchases of Rs. 14,25,000/- (iv) directing to tax the same as income from other sources and (iv) holding that assessee paid 25% of doubtful purchases through undisclosed cash/undisclosed source. 4 The appellant prays for leave to Add, to amend, to delete, or modify the all or any grounds of appeal on or before

GOVINDAM EXPORT,JAIPUR, RAJASTHAN vs. DCIT, CIRCLE-1, JAIPUR, RAJASTHAN

250/- being 25% of purchases of Rs.\n14,25,000/- (iv) directing to tax the same as income from other sources\nand (iv) holding that assessee paid 25% of doubtful purchases through\nundisclosed cash/undisclosed source.\n4\nThe appellant prays for leave to Add, to amend, to delete, or modify the\nall or any grounds of appeal on or before

GOVINDAM EXPORT,JAIPUR, RAJASTHAN vs. DCIT, CIRCLE-1, JAIPUR, RAJASTHAN

250/- being 25% of purchases of Rs.\n14,25,000/- (iv) directing to tax the same as income from other sources\nand (iv) holding that assessee paid 25% of doubtful purchases through\nundisclosed cash/undisclosed source.\n4\nThe appellant prays for leave to Add, to amend, to delete, or modify the\nall or any grounds of appeal on or before

ABHAY CHORDIA,JAIPUR vs. DCIT CIRCLE 1, JAIPUR

Appeal of the assessee is partly allowed

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

250 taxmann 16 having dismissed the SLP filed by the Department this issue is decided in favour of the assessee and against the Revenue. d. That the learned A.O. failed to appreciate that section 43B of the IT Act has a non-obstante clause and accordingly it has precedence over the provisions of section

BIRENDRA SINGH NIRBHAY,SIRSI ROAD JAIPUR RAJASTHAN vs. ITO WARD 3(1) JAIPUR, NCRB INCOME TAX DEPARTMENT STATUE CIRCLE JAIPUR RAJASTHAN

In the result, the appeal of the assessee is allowed

bogus purchases, the Hon'ble\nHigh Court of Gujarat has decided issue in favour of the revenue. The Ld CIT (A)\nhad also put the para 6 of the aforesaid order, where-in, the entire purchases\nshown on the basis of fictitious invoices debited in the trading account is\ndisallowed by the court.\nIt is ample clear that the aforesaid

FINESSE JEWELS PRIVATE LIMITED ,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME, CIRCLE 1, JPR, JAIPUR

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

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyalfinesse Jewels Private Limited, A-467 Jaipur, Vidhyut Nagar, Jaipur, Ajmer Road- 302 021. Pan No.: Aabcf 4438R ..... Appellant Vs. Dcit, Circle-1, Jaipur – 302 021. ..... Respondent

sections 68 and 69C of the Income-tax Act. The entire purchases shown on the basis of fictitious invoices have been debited in the trading account since the transaction has been found to be bogus. The Tribunal having once come to a categorical finding that the amount of Rs. 2, 92, 93,288/- represented alleged purchases from bogus suppliers

M/S VXA GLOBAL LLP,JAIPUR vs. INCOME TAX OFFICER, WARD 1(1), JAIPUR, JAIPUR

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

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

bogus purchases and making it as unexplained expenditure under section 37(1) and adding the same as income 9) The Learned NFAC (Appeals) has erred in law and on facts in upholding the Order of AO passed without following the procedure laid down in the act 10) The Learned NFAC (Appeals) has erred in law and on facts in concluding

UPENDRA KUMAR SONI,KOTA vs. ACIT, CENTRAL CIRCLE-KOTA, CENTRAL CIRCLE, KOTA

In the result, both the appeals of the assesee are allowed for statistical purposes

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

250(5). On these facts, the addition made by the AO is found to be justified and confirmed. Hon'ble Supreme Court in the case of C.V Ravi Vs ITO [2021] 129 taxmann.com 44 (SC)/[2021] 281 Taxman 362 (SC) dismissed SLP against High Court ruling that where assessee took loan from an entity, however, failed to produce any confirmation

UPENDRA KUMAR SONI,KOTA vs. ACIT, CENTRAL CORCLE-KOTA, KOTA

In the result, both the appeals of the assesee are allowed for statistical purposes

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

250(5). On these facts, the addition made by the AO is found to be justified and confirmed. Hon'ble Supreme Court in the case of C.V Ravi Vs ITO [2021] 129 taxmann.com 44 (SC)/[2021] 281 Taxman 362 (SC) dismissed SLP against High Court ruling that where assessee took loan from an entity, however, failed to produce any confirmation

SMT ANJU LASHKERY,JAIPUR vs. INCOME TAX OFFICER, WARD-5-2, JAIPUR

In the result, the appeal of the assessee is allowed

250/- by raising GP rate from 12.14% to 15.42% and all the deficiency in the books of accounts as alleged in respect of the issue of bogus purchases have been duly take care of by such an addition as held by the ld. CIT(A) and affirmed by the Tribunal in the first round. It was submitted that

PEEYUSH AGARWAL,JAIPUR, RAJASTHAN vs. ITO, WARD 1(5), JAIPUR, JAIPUR, RAJASTHAN

In the result Ground and 1 and 2 raised by the assessee are allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

250 of the Act, the ld. CIT(A) is empowered to make further inquiry as he thinks fit or may direct the Assessing Officer to make further inquiry and report to the ld. CIT(A). As per section 251(1)(a) of the Act, in appeal against an order of assessment, he may confirm, reduce, enhance or annul the assessment

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR vs. NARESH KUMAR GUPTA, SRIGANGANAGAR

In the results the appeal of the revenue stands dismissed and the

Bench: Him The Order Passed Under Section 143(3) Of The Income Tax Act, [ For Short “Act” ] By The Acit, Circle, Sri Ganganagar [

bogus purchases can be added to arrive at the net income of the appellant. The appellant is a trader and not a manufacturer of the oil in which the appellant is dealing. The books of accounts of the appellant have been rejected in the assessment order. During the survey proceedings the appellant has already offered an additional income of Rs.1

ACIT, CIRCLE-2, ALWAR vs. SEWA STEEL PVT. LTD., BHIWADI

In the result, the appeals of the Revenue are partly allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;djvihy la-@ITA No.573& 181/JP/2017 fu/kZkj.ko"kZ@AssessmentYear : 2012-13& 2013-14 The ACIT Circle-2, Alwar cuke Vs. M/s. Sewa Steel Pvt. Ltd. E-90-C, Industrial Area, Tijara Bhiwadi, Distt. Alwar (Raj) LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: AACCS 4307 D vihykFkhZ@Appellant izR;FkhZ@Respondent jktLo dh vksjls@Revenue by: Shri Laxman Singh, Addl. CIT fu/kZkfjrh dh vksjls@Assesseeby : None lquokbZ dh rkjh[k@Date

250/- to Rs.1,39,140/- without appreciating the fact that the sales out of books of account was because of the suppressed production and therefore represented the undisclosed income itself. 3. On the facts and circumstances of the case, the ld.CIT(A) having held that subsidy amounting to Rs.39,45,868/- was investment subsidy and not employment generation subsidy erred