ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, JAIPUR vs. M/S GANPATI EXCLUSIVE DESIGNER SAREES PVT. LTD., JAIPUR

In the result, appeal of the assessee is allowed

vii) Reliance is placed on the judgement dated 30.10.2017 of Hon’ble ITAT, Jaipur in the case of M/s. Motisons Buildtech Pvt. Ltd. Vs ACIT in ITA No. 481 /JP/2017 for AY 2009-10, wherein the appeal of the revenue on the same issue was dismissed. Further, the above judgement was followed by the Hon’ble ITAT, Jaipur

M/S GANPATI EXCLUSIVE DESIGNER SAREES PVT. LTD.,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, JAIPUR

In the result, appeal of the assessee is allowed

vii) Reliance is placed on the judgement dated 30.10.2017 of Hon’ble ITAT, Jaipur in the case of M/s. Motisons Buildtech Pvt. Ltd. Vs ACIT in ITA No. 481 /JP/2017 for AY 2009-10, wherein the appeal of the revenue on the same issue was dismissed. Further, the above judgement was followed by the Hon’ble ITAT, Jaipur

RAJASTHAN TRANSMAT PRIVATE LIMITED,JAIPUR vs. INCOME TAX OFFICER ,WARD 7(2),, JAIPUR

In the result, the appeal of the assessee partly allowed

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

bogus entries of name lenders. (iii) If the enquiries and investigations reveal that the identity of the creditors to be dubious or doubtful or lack credit- worthiness then the genuineness of the transaction would not be established. In such a case, the assessee would not have discharged the primary onus contemplated by Section 68 of the Act. 6.1.4. The assessment

DHANUKA REALTY LIMITED,JAIPUR vs. ITO WARD 4(4), JAIPUR

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

Bench: SHRI SANDEEP GOSAIN (Judicial Member)

section 56(2)(viib) it clearly comes out that it has been brought on statute book from assessment year 2013-14 onwards and it is not retrospective nor its language in any way suggest that it is to operate retrospectively. (vi) In regard to Retrospective Legislation it is submitted that the general principle is that provisions in a statue would

MRS. RENU SEHGAL,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR

In the result, the appeals of the assessee is allowed and that of the

Bench: : Shri Vijay Pal Rao, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 837/Jp/2018 Fu/Kzkj.K O"Kz@Assessment Year : 2012-13 Cuke The Acit Smt. Renu Sehgal Vs. Central Circle-3 27, Onkar Nagar, Civil Lines Jaipur Jaipur Lfkk;H Ys[Kk La-@Thvkbzvkj La-@Pan/Gir No.: Aepps 3048 M Vihykfkhz@Appellant Izr;Fkhz@Respondent Vk;Dj Vihy La-@Ita No. 708 & 709 Jp/2018 Fu/Kzkj.K O"Kz@Assessment Year : 2012-13 & 2015-16 Cuke Mrs. Renu Sehgal The Dcit Vs. 227-278, Nemisagar Colony Central Circle-3, Vaishali Nagar, Jaipur Jaipur Lfkk;H Ys[Kk La-@Thvkbzvkj La-@Pan/Gir No.: Aepps 3048 M Vihykfkhz@Appellant Izr;Fkhz@Respondent Jktlo Dh Vksj Ls@ Revenue By : Shri Varinder Mehta, Cit-Dr Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri P.C. Parwal, Ca Lquokbz Dh Rkjh[K@ Date Of Hearing : 06/08/2019 ?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 19/08/2019 Vkns'K@ Order Per Vijay Pal Rao, Jm There Are Cross Appeals For The Assessment Year 2012-13 Directed Against The Order Dated 09-04-2013 Of The Ld. Cit(A)-4, Jaipur. The 2 Smt. Renu Sehgal Vs Dcit, Central Circle-3, Jaipur

bogus or sham so as to consider the same as unexplained. 8.5 I find that the appellant has demonstrated that the required ingredients to explain the cash credit as genuine. There is no doubt about the identity of Makesworth which is discernible from agreement itself entered into, its tax returns and assessment orders etc. The genuineness of transaction is also

DCIT, CENTRAL CIRCLE, AJMER vs. M/S SILVERTOSS COMMODITIES PVT. LTD., KOLKATA

The appeals of the revenue stand dismissed and the cross objections of the assessee are partly allowed

56. Section 153A of the Act is titled "Assessment in case of search or requisition". It is connected to Section 132 which deals with 'search and seizure'. Both these provisions, therefore, have to be read together. Section 153A is indeed an extremely potent power which enables the Revenue to re- open at least six years of assessments earlier

SH. HARI PRAKASH GUPTA,JAIPUR vs. ITO, WARD-1(2), JAIPUR, JAIPUR

purchase and sale of real\nestate and flats, it was held that the direction of the Tribunal to the AO to take\n25% of the sale proceeds received in cash as assessee's income rather than\nmaking addition of entire amount of sale proceeds received in cash is\nsustainable. In such cases, not the entire receipt but only the profit

SH. HARI PRAKASH GUPTA,JAIPUR vs. ITO, WARD-1(2), JAIPUR, JAIPUR

The appeal stands allowed

Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

purchase and sale of real estate and flats, it was held that the direction of the Tribunal to the AO to take 25% of the sale proceeds received in cash as assessee's income rather than making addition of entire amount of sale proceeds received in cash is sustainable. In such cases, not the entire receipt but only the profit

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)

section 68 of the 51 Peeyush Agarwal, Jaipur. Act that will amount to double taxation once as sales and again as unexplained cash credit which is against the principles of taxation. Assessee was having only one source of income from trading in beedi, tea power and pan masala and therefore provisions of section 115BBE of the Act will have

INCOME TAX OFFICER, JAIPUR vs. MOTISONS JEWELLERS LTDL, JAIPUR

section 115BBE of the Act. 4.1. Finding of ld.AO: - The findings and observations of ld. AO are at page 2 to 23 of the assessment order. In view of the observations and findings the ld. AO alleged that the sales made, amount realized from debtors and advances received from customers, which was utilized to deposit in bank account in demonetized

DEPUTY COMMISSIONER OF INCOME TAX, INCOME TAX DEPARTMENT, CENTRAL CIRCLE-3 vs. M/S N. M. AGROFOOD PRODUCTS PVT. LTD., SRIGANGANAGAR

In the result the appeal of the revenue in ITA No

vii) Copy of audited financial statement of both these company for AY 2013- 14 & 2018-19 is enclosed. viii) Assessee has approached present director of both these companies and they are sending the confirmation showing outstanding balance due to them. Confirmation will be submitted within 2 3 days' time. 1. That your good self has not pointed out any specific

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, INCOME TAX OFFICE vs. SHRI SURESH KUMAR GUPTA, SRIGANGANAGAR

In the result the appeal of the revenue in ITA No

vii) Copy of audited financial statement of both these company for AY 2013- 14 & 2018-19 is enclosed. viii) Assessee has approached present director of both these companies and they are sending the confirmation showing outstanding balance due to them. Confirmation will be submitted within 2 3 days' time. 1. That your good self has not pointed out any specific

LOVELY PROMOTERS PRIVATE LIMITED,KOLKATA vs. ACIT, CENTRAL CIRCLE, AJMER, AJMER

In the result, the appeal filed by the assessee is allowed

Bench: him regarding non mentioning of Document Identification Number (DIN) in the body of the order u/s. 127 of the Act dated 08-09-2021 and various other technical pleas raised in grounds of appeal regarding validity of notice u/s. 148 of the Act, thereby appellate order passed by the CIT(A) is non-speaking order and deserves to be quashed. 4. On the facts and in circumstances of the case and in law, the AO erred in issuing notice u/s. 148 of the Act as it was a search related case u/s. 132 r/w

vii. The concerned authority vide order dated 08-09-2021 transferred jurisdiction from Kolkata to Ajmer.(PB Page 66-68 & 69-71) by rejecting assessee company objections. viii. The concerned authority (Ld. PCIT, Kolkata), despite repeated requests, did not provided any information or documents or warrant suggesting that assessee company case is related with the search proceedings conducted at “Saini

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

INCOME TAX OFFICER, WARD-2-2, JAIPUR vs. M/S SUKH SAGAR ENCLAVE, JAIPUR

In the result, appeal of the revenue is dismissed

bogus document. It is also not in dispute that there is a forfeiture condition as per the clauses of the agreement and on failure on the part of the assessee to make the entire payment of sale consideration within the time period prescribed under the agreement, the advance paid by the assessee was liable to be forfeited

ACIT, CENTRAL CIRCLE, ALWAR vs. SH. TARA CHAND GUPTA, ALWAR

In the result the appeal filed by the revenue in ITA no

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM आयकर अपील सं./ITA. Nos.447 to 449/JP/2024 निर्धारण वर्ष / Assessment Years : 2015-16 to 2017-18 Shri Tarachand Gupta 9 Keshav Nagar Sch 13, Alwar बनाम ACIT, Vs. Central Circle, Alwar स्थायी लेखा सं./ जीआईआर सं./PAN/GIR No.: AAYPC 5777 E अपीलार्थी / Appellant प्रत्यर्थी / Respondent आयकर अपील सं./ITA. No. 514/JP/2024 निर्धारण वर्ष / Assessment Year : 2017-18 ACIT, Central Circle, Alwar बनाम Shri Tarachand Gupta 9 Kesh

56(2)(vii)(b)(ii) for Rs. 1,46,933/- was made which were not disputed before us as the Sh. Tarachand Gupta same was considered by the ld. CIT(A) therefore, that part of the facts is not repeated here. 5. Aggrieved by the order of Assessing Officer, assessee preferred an appeal before the ld. CIT(A). Apropos

SH. TARACHAND GUPTA,ALWAR vs. ACIT, CENTRAL CIRCLE, ALWAR, ALWAR

In the result the appeal filed by the revenue in ITA no

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM आयकर अपील सं. / ITA. Nos.447 to 449/JP/2024 निर्धारण वर्ष / Assessment Years : 2015-16 to 2017-18 Shri Tarachand Gupta 9 Keshav Nagar Sch 13, Alwar बनाम Vs. ACIT, Central Circle, Alwar स्थायी लेखा सं./ जीआईआर सं./PAN/GIR No.: AAYPC 5777 E अपीलार्थी / Appellant प्रत्यर्थी / Respondent आयकर अपील सं./ITA. No. 514/JP/2024 निर्धारण वर्ष / Assessment Year : 2017-18 ACIT, Central Circle, Alwar बनाम Shri Tarachand Gupta 9 Ke

56(2)(vii)(b)(ii) for Rs. 1,46,933/- was made which were not disputed before us as the Sh. Tarachand Gupta same was considered by the ld. CIT(A) therefore, that part of the facts is not repeated here. 5. Aggrieved by the order of Assessing Officer, assessee preferred an appeal before the ld. CIT(A). Apropos

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