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

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

purchase receipts\n3. Sale bill cum contract note (Annexure A/5)\n4. Copy of Demat Account\n5. Copy of Bank Account showing the sale receipts\n6. Copy of Return of Income for AY 2016-17 where assessee has\ndeclared income of Rs.45,14,780/- under the head LTCG exempt\nunder section 10(38) of the Act. (Annexure A/1)\nHe also based

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

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

purchase receipts\n3. Sale bill cum contract note (Annexure A/5)\n4. Copy of Demat Account\n5. Copy of Bank Account showing the sale receipts\n6. Copy of Return of Income for AY 2016-17 where assessee has\ndeclared income of Rs.45,14,780/- under the head LTCG exempt\nunder section 10(38) of the Act. (Annexure A/1)\nHe also based

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

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

purchase receipts\n3. Sale bill cum contract note (Annexure A/5)\n4. Copy of Demat Account\n5. Copy of Bank Account showing the sale receipts\n6. Copy of Return of Income for AY 2016-17 where assessee has\ndeclared income of Rs.45,14,780/- under the head LTCG exempt\nunder section 10(38) of the Act. (Annexure A/1)\nHe also based

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

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

purchase receipts\n3. Sale bill cum contract note (Annexure A/5)\n4. Copy of Demat Account\n5. Copy of Bank Account showing the sale receipts\n6. Copy of Return of Income for AY 2016-17 where assessee has\ndeclared income of Rs.45,14,780/- under the head LTCG exempt\nunder section 10(38) of the Act. (Annexure A/1)\nHe also based

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

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

purchase receipts\n3. Sale bill cum contract note (Annexure A/5)\n4. Copy of Demat Account\n5. Copy of Bank Account showing the sale receipts\n6. Copy of Return of Income for AY 2016-17 where assessee has\ndeclared income of Rs.45,14,780/- under the head LTCG exempt\nunder section 10(38) of the Act. (Annexure A/1)\nHe also based

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

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

purchase receipts\n3. Sale bill cum contract note (Annexure A/5)\n4. Copy of Demat Account\n5. Copy of Bank Account showing the sale receipts\n6. Copy of Return of Income for AY 2016-17 where assessee has\ndeclared income of Rs.45,14,780/- under the head LTCG exempt\nunder section 10(38) of the Act. (Annexure A/1)\nHe also based

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

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

purchase receipts\n3. Sale bill cum contract note (Annexure A/5)\n4. Copy of Demat Account\n5. Copy of Bank Account showing the sale receipts\n6. Copy of Return of Income for AY 2016-17 where assessee has\ndeclared income of Rs.45,14,780/- under the head LTCG exempt\nunder section 10(38) of the Act. (Annexure A/1)\nHe also based

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

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

purchase receipts\n3. Sale bill cum contract note (Annexure A/5)\n4. Copy of Demat Account\n5. Copy of Bank Account showing the sale receipts\n6. Copy of Return of Income for AY 2016-17 where assessee has\ndeclared income of Rs.45,14,780/- under the head LTCG exempt\nunder section 10(38) of the Act. (Annexure A/1)\nHe also based

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

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

purchase receipts\n3. Sale bill cum contract note (Annexure A/5)\n4. Copy of Demat Account\n5. Copy of Bank Account showing the sale receipts\n6. Copy of Return of Income for AY 2016-17 where assessee has\ndeclared income of Rs.45,14,780/- under the head LTCG exempt\nunder section 10(38) of the Act. (Annexure A/1)\nHe also based

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

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

purchase receipts\n3. Sale bill cum contract note (Annexure A/5)\n4. Copy of Demat Account\n5. Copy of Bank Account showing the sale receipts\n6. Copy of Return of Income for AY 2016-17 where assessee has\ndeclared income of Rs.45,14,780/- under the head LTCG exempt\nunder section 10(38) of the Act. (Annexure A/1)\n\nHe also

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

26,94,181 22,21,78,361 What should 0.50% Rs. 11,10,892 have been (B*C) 2.8.viii. Ld. CIT(A) on the basis of decision of Anshuman Ramdhalji Kumawat, [PB 114-145] applied 0.50% rate. In the said decision also under identical facts 0.50% rate was applied only on alleged bogus purchases [PB 144]. The decision

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

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

26,94,181 22,21,78,361 What should 0.50% Rs. 11,10,892 have been (B*C) 2.8.viii. Ld. CIT(A) on the basis of decision of Anshuman Ramdhalji Kumawat, [PB 114-145] applied 0.50% rate. In the said decision also under identical facts 0.50% rate was applied only on alleged bogus purchases [PB 144]. The decision

SAKET AGARWAL,JAIPUR vs. ITO WARD 2(3) JAIPUR, JAIPUR

In the result appeal filed by the assessee is allowed

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

iii) where a firm carrying on a business or profession is succeeded by another firm, the other firm; (iv) where there has been a demerger, the resulting company. 2. That the assessee appellant in order to carry out his business, purchases goods which are in the nature of precious and semi-precious stones from various suppliers. The assessee appellant

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4, JAIPUR, JAIPUR vs. SUNDER DAS SONKIYA, JAIPUR

In the result, both appeals of the revenue are dismissed

Bench: Moving Towards The Facts Of The Case We Would Like To Mention That The Revenue Has Assailed The Appeal In Ita No.453/Jp/2024 On The Following Grounds; “(I) Whether On The Facts & In The Circumstances Of The Case, The Ld. Cit(A) Is Justified In Deleting The Addition Of Rs.43,33,606/- Without Appreciating The Fact That Assessee Has Shown Bogus Purchase Of Rs 1,73,34,424/- During The Year From A Bogus Concern. 3

iii) It was found that parties were not traceable - only bills and sales tax No. were furnished. There is a finding that CIT (A) had gone through the purchase price of raw material prevalent at that time and admittedly, the goods in the form of raw materials were purchased at a price which was lower than the market price, that

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4, JAIPUR, JAIPUR vs. SUNDER DAS SONKIYA, JAIPUR

In the result, both appeals of the revenue are dismissed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

section 145 (3) of the I. T. Act, 1961 are hereby applicable as the books of accounts are not reliable, Therefore, 20 DCIT vs. Sunder Das Sonkiya the Assessing Officer is directed to apply GP rate of 12% on total turnover of Rs. 7,03,93,153/- which results in addition

SMT. APARNA AGRAWAL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, KOTA

In the result, appeal of the assessee is allowed and the appeal of the revenue

26,677/- under clause 1(a) of that section Smt. Aparna Agarwal, Kota. despite the fact that manner of earning of undisclosed income was not disclosed by the assessee. 2. Before us, the ld. A/R of the assessee has submitted that the transaction of purchase and sale of shares which has resulted Long Term Capital Gains are duly recorded

SMT. JYOTI AGARWAL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA

In the result, appeals of the assessee in ITA nos

bogus but the entry in the seized material is only the computation of long term capital gain on sale of shares. Therefore, the documents which were found and seized during the course of search and seizure action contains the details of LTCG would not be regarded as incriminating material disclosing any income not recorded in the books of account. Hence

SHRI AJAY AGARWAL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, KOTA

In the result, appeal of the assessee is allowed and the appeal of the revenue

26,52,624/- imposed by the AO u/s 271AAB(1)(c) of the Act more so when :- a) The appellant was not having any undisclosed income within the meaning of section 271AAB of the Act, therefore, no penalty under this section can be imposed on assessee. b) The penalty was levied by drawing the inference only from the statement recorded