PREM PRAKASH AGARWAL,NAYA BAZAR AJMER vs. DCIT CENTRAL CIRCLE AJMER, JAIPUR ROAD AJMER

In the result, three appeals of the assessee are allowed

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

purchase and sale and LTCG arising from the sale of equity shares of the listed companies are duly recorded in the books of account. Therefore, it is not the case of any income of the specified year representing the entry in the other documents which has not been recorded in the books of account on the date of search. Therefore

R P WOOD PRODUCTS PVT LTD ,NAYA BAZAR AJMER vs. DCIT CENTRAL CIRCLE AJMER, JAIPUR ROAD AJMER

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

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

purchase and sale and LTCG arising from the sale of equity shares of the listed companies are duly recorded in the books of account. Therefore, it is not the case of any income of the specified year representing the entry in the other documents which has not been recorded in the books of account on the date of search. Therefore

JOINT COMMISSIONER OF INCOME TAX, AJMER vs. M/S R.P.WOOD PRODUCTS PVT. LTD., , AJMER

In the result, appeal of the assessee is allowed

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

purchase and sale and LTCG arising from the sale of equity shares of the listed companies are duly recorded in the books of account. Therefore, it is not the case of any income of the specified year 9 JCIT VS R.P. WOOD PRODUCTS PVT. LTD, AJMER representing the entry in the other documents which has not been recorded

JEWELS EMPORIUM A LEGACY,JAIPUR vs. ACIT,CC-1, JAIPUR

In the result, the appeal of the assessee stands allowed

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

undisclosed sources — assessment — assessee trading in finished fabrics — whether purchases themselves bogus — whether parties from whom such purchases were made bogus — questions of fact — tribunal finding assessee did purchase cloth and sell finished fabrics — not entire purchase price but profit element embedded in purchases liable to tax — Income

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)

bogus purchases in view of elaborate reasons recorded in the assessment order. The entire deposits in the bank accounts of these parties were treated as assessee's income on protective basis. 4. Mr. J.P. Shah, learned advocate appearing for the assessee submitted that the Tribunal erred in holding that 25% of Rs. 2.92 crores is undisclosed

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)

bogus purchases as compared to G.P. on normal purchases In the present case also, since the ld. AO has examined the profit worked out on unaccounted purchases and has accepted such working prepared by assessee by observing that : “It is also submitted that assessee company has now offered the additional undisclosed income

GARGI GLOBAL ACADEMY SANSTHAN,SIKAR vs. DCIT, CENTRAL CIRCLE-2, JAIPUR, JAIPUR

In the result, both appeals of the assessee are partly allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

income offered before the Hon’ble Settlement Commission. This is noted by AO at Para 7.3 of his order. Thus it is incorrect on the part of Ld. CIT(A) to observe that in none of the submissions the assessee has made any categorical statement that payment of unaccounted cash for the land was made by the two individuals

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

bogus purchases. Similarly Gujarat High Court decision is in respect of fictitious purchase invoices where the High Court disallowed 25% of such purchases. Hence this decision is also distinguishable on facts. Considering that overall facts we direct the ld. AO to consider the income on the transaction to the extent of the gross profit declared Sh. Tarachand Gupta

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

bogus purchases. Similarly Gujarat High Court decision is in respect of fictitious purchase invoices where the High Court disallowed 25% of such purchases. Hence this decision is also distinguishable on facts. Considering that overall facts we direct the ld. AO to consider the income on the transaction to the extent of the gross profit declared Sh. Tarachand Gupta

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)

undisclosed sources, and based on these findings he treated this income as income from other sources of the assessee. 8. For assessment year 1999-2000, AY 2000-01 and AY 2003-04, then assessing officer held the assessee has declared purchases from the persons who were simply issuing bogus

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)

undisclosed foreign income/undisclosed foreign assets (including financial assets)/undisclosed foreign bank account, or h. Cases involving organized tax evasion including cases of bogus capital gain/loss through penny stocks and cases of accommodation entries, or Where mandated by a Court's directions, or i. j. Writ matters, or k. Matters related to wealth tax, fringe benefit tax, equalization levy

VIVEKANDA SHIKSHA SAMITI,PALWAS ROAD, SIKAR vs. DCIT, CENTRAL CIRCLE-2, JAIPUR, JAIPUR

In the result, both appeals of the assessee are partly allowed

income but by arranging funds from Joginder\nSingh Sunda and Piyush Sunda. Therefore, addition confirmed is prima facie\nincorrect.\n(ii)\nRight from the inception assessee has claimed that the difference amount\nwas paid by Joginder Singh Sunda and Piyush Sunda out of their undisclosed\nincome offered before the Hon'ble Settlement Commission. This is noted by AO\nat Para

ALKA KHANDAKA,JAIPUR vs. INCOME TAX OFFICER WARD 1(2), JAIPUR

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

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

bogus bills and Vijay Group and Lalwani Group. Before completing assessment the Assessing Officer has not provided either the results of surveys or the statement of Shri Anil Kumar Lalwani and Others so that assessee could furnish his defense. Hence when the material used by the Assessing Officer was not provided to be assessee, the assessment proceedings become

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

bogus expenses in the hands of applicant in various years and same has been declared on the basis of incriminating documents. Accordingly, an amount of Rs.1,71,72,858/- and Rs.27,91,592/- has been added to the total income of the assessee for the A.Y. 2015-16 & A.Y. 2016-17 respectively. Therefore the balance amount of Rs.35,500/-[Rs.2

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

undisclosed foreign income/undisclosed foreign assets\n(including financial assets)/undisclosed foreign bank account, or\nCases involving organized tax evasion including cases of bogus capital gain/loss\nthrough penny stocks and cases of accommodation entries, or\nWhere mandated by a Court's directions, or\nWrit matters, or\nMatters related to wealth tax, fringe benefit tax, equalization levy and any matter\nother than

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA vs. SH. NAVAL KISHORE, KOTA

bogus expenditure. It means, \nhe has no objection of addition of Rs. 1,62,00,000/- as undisclosed \nreceipts from \"Bajaj Enclave Scheme.\" \nThe AO further noted that the assessee has not offered above \nundisclosed income of Rs.1,62,00,000/- in returned filed u/s 153A of \nthe Act. Shri Naval Kishore Khandelal stated in his statement that he \nhad

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

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