SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

In the result, the appeal of the Revenue in ITA No

Bench: or at the time of hearing of this appeal.

bogus purchases. 7. That on the facts and in the circumstances of the case, the Ld. CIT (Appeals), was not justified and erred in law in not considering incentives amounting to Rs. 3,39,74,28,174/- granted to the appellant as capital receipt which are not exigible to tax while computing total income under normal provisions

PINCITY JEWLHOUSE PVT. LTD.,JAIPUR vs. PCIT, CC, JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: the date of hearing." 3. At the outset of hearing, the Bench observed that there is delay of 58 days in filing of the present appeal by the assessee for which the Id. AR of 3

253(5) of the I.T. Act, 1961 read with section 5 of Limitation Act in filing of appeal Hon'ble Sir(s), The humble assessee appellant applicant respectfully prays for the condonation of delay in the filling of Appeal for the following reason: 1. That the Id. PCIT (Central), Jaipur passed his order on 17.03.2021 which was served upon

SH. ASHOK KUMAR PORWAL,JHALAWAR vs. JCIT, RANGE-1, KOTA, KOTA

In the result, appeal of the assessee is partly allowed

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

bogus accommodation entries, since assessee was not granted an opportunity to cross-examine persons whose statements were recorded during investigation, impugned additions made on basis of such investigation which was not privy to assessee were to be deleted[2022] 143 taxmann.com 371 (SC)/[2022] 289 Taxman 625 (SC)[0.... 9 Sh. Ashok Kumar Porwal vs. JCIT INCOME TAX SLP dismissed

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, KOTA vs. M/S SHIV VEGPRO PVT. LTD., KOTA

In the result, appeal of the revenue is dismissed

253(4) of the Act endorses the situation of finality with regard to the orders passed by the Appellate Tribunal. In view of the above reasons, the Appellate Tribunal under resort to rule 27 of the Income-tax (Appellate Tribunal) Rules, 1963, would be justified to consider the contention raised by the assessee in regard to which the first appellate

M/S VIJAYETA BUILDCON PVT. LTD.,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, JAIPUR

In the result, the ground of the assessee’s appeal is allowed

253(5) of the Act, we hereby condone the delay in filing the present appeal as we are satisfied that there was sufficient cause for not presenting the appeal within the prescribed time and the appeal is hereby admitted for adjudication on merits. 5. The assessee company has submitted an application praying for raising the following additional ground of appeal

INCOME TAX OFFICER, WARD-1-2, AJMER vs. SHRI BHAGCHAND JAIN, AJMER

In the result, appeal of the Revenue is dismissed and the cross objection of the assessee is partly allowed

bogus purchase/ unexplained investment. It is beyond understanding as to why the AO has given so much credence to the VAT return even though it was neither filled by a qualified expert, nor it was examined or verified by any Chartered Accountant, meaning thereby VAT return was not at all worth reliance as against the regularly maintained books of accounts

SIYARAM CITY CABS LTD.,JAIPUR vs. ITD WARD 6(4), JAIPUR, JAIPUR

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

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

bogus purchase, without discharging his onus of providing copy of the statements of persons and material relied upon by him The action of the Id. CIT(A) is illegal, unjustified, arbitrary and against the facts of the case. Relief may please be granted by deleting the addition of Rs.6,56,44,910’’. 2.1 At the outset of hearing

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)

253(5) of the Income Tax Act, 1961 read with section 5 of Limitation Act in filling of appeal SHRI UPENDRAF KUMAR SONI VS ACIT, CENTRAL CIRCLE-KOTA Hon'ble Sir(s), The humble assessee appellant applicant respectfully prays for the condonation of delay in the filling of appeal for the following reason 1. That the Id. CIT (Appeals) passed

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)

253(5) of the Income Tax Act, 1961 read with section 5 of Limitation Act in filling of appeal SHRI UPENDRAF KUMAR SONI VS ACIT, CENTRAL CIRCLE-KOTA Hon'ble Sir(s), The humble assessee appellant applicant respectfully prays for the condonation of delay in the filling of appeal for the following reason 1. That the Id. CIT (Appeals) passed

SHREE CEMENT LIMITED,BANGUR NAGAR vs. ACIT, CENTRAL CIRCLE, AJMER

In the result, the appeal of the assessee - appellant in ITA No

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

purchases, amounting to Rs. 1,55,68,397/- was flagged on Insight portal for FY 2018-19 relevant to AY 2019-20 as per Risk Management Strategy of CBDT. 4.1 On the basis of above information, notice u/s 148A(b) was issued on 27.03.2023 and after considering the reply of the assessee, order u/s 148A(d) was passed

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)

5. As per the provisions of section 149(1)(b) of the Act, in specific cases where the Assessing Officer has in his possession evidence which reveals that the income escaping assessment, represented in the form of asset, amounts to or is likely to amount to fifty lakh rupees or more, notice can be issued beyond the period of three

ITO, JAIPUR vs. GOTAM AGARWAL, JAIPUR

In the result, appeal of the revenue is dismissed

Bench: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

253/- by making addition under section 68 of the Act of Rs. 2,58,56,715/- and Interest Income of Rs. 25,00,578/-. Aggrieved by the order of AO, the assessee preferred appeal before the ld. CIT (A). The ld. CIT (A) considering the submissions and the details furnished by the assessee and also taking into consideration various judicial

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

The appeal of the assessee is partly allowed and that of the revenue stands dismissed

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

bogus turnover to Royal Jewellers vs. DCIT the extent of Rs. 70,02,127/- is deducted and on balance turnover of Rs. 7,45,81,156/- GP rate of 24.14% is applied, resulting in trading addition of Rs. 1,21,41,812/-. 4.4 The assessing officer has observed that the assessee has deposited cash aggregating

M/S. ROYAL JEWELLERS,JAIPUR vs. DCIT, CENTRAL CIRCLE, JAIPUR

The appeal of the assessee is partly allowed and that of the revenue stands dismissed

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

bogus turnover to Royal Jewellers vs. DCIT the extent of Rs. 70,02,127/- is deducted and on balance turnover of Rs. 7,45,81,156/- GP rate of 24.14% is applied, resulting in trading addition of Rs. 1,21,41,812/-. 4.4 The assessing officer has observed that the assessee has deposited cash aggregating

TIJARIA POLYPIPES LIMITED,JAIPUR vs. DCIT CIRLCE 4, JAIPUR

bogus\ntransactions, re-opening u/s 147 is justified.\n1. What is to be seen at the stage of recording the reasons is existence of belief\nbased on faithful appreciation of material which has link to an income escaping\nassessment, but not the established fact of escapement of income by detailed\ninvestigation or legal analysis. In other words, at the point

SHRI JITENDRA KUMAR AGARWAL,JAIPUR vs. DCIT, CENTRAL CIRCLE-2, JAIPUR

In the result, appeal of the assessee is dismissed and that of the revenue is also stands dismissed

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

bogus was found in the entire search and seizure operation conducted not only at the business premises but also residential premises of the partners of the appellant firm. Further, the observations of the ld. AO in respect of the no. of invoices issued by the appellant on 08/11/2016 post demonetization, the appellant submits that such an observation of then ld.AO

DCIT, CC-2, JAIPUR vs. SHRI JITENDRA KUMAR AGARWAL, JAIPUR

In the result, appeal of the assessee is dismissed and that of the revenue is also stands dismissed

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

bogus was found in the entire search and seizure operation conducted not only at the business premises but also residential premises of the partners of the appellant firm. Further, the observations of the ld. AO in respect of the no. of invoices issued by the appellant on 08/11/2016 post demonetization, the appellant submits that such an observation of then ld.AO

RAJRAJESHWARI GUPTA ,KOTA vs. ITO , WARD 1(1),KOTA, KOTA

In the result, the appeal of the assessee is allowed with no orders as to costs

Bench: Hon’ble SHRI SANDEEP GOSAIN (Judicial Member)

purchased cheque from broker. 1.30In the case of CIT vs. Shyam R. Pawar, 54 taxmann.com 108 (Bom) ITAT , Bombay concluded that where DMAT account and contract note showed details of share transaction, and Assessing Officer had not proved said transaction as bogus, capital gain earned on said transaction could not be treated as unaccounted income under section

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA vs. NISHA JAIN, KOTA

In the result, the appeal of the Revenue is dismissed with no orders as to cost

Bench: SHRI SANDEEP GOSAIN (Judicial Member), DR MITHA LAL MEENA (Accountant Member)

purchases and sales are properly vouched or not. The time of the assessing officers thus saved could be utilized for attending to more important investigational aspects of a case.” Thus, importance and relevance of Audited Accounts cannot be ignored. Interestingly, both the lower authorities have not pointed out any inherent defects in the books of accounts nor have they rejected