ACIT(EXEMPTION), JAIPUR vs. MAHIMA SHIKSHA SAMITI, JAIPUR

In the result, all the grounds taken by the Revenue are dismissed and ground taken by the assessee society is allowed

trust wholly for charitable or religious purposes, is transferred and the whole or any part of the net consideration is utilised for acquiring another capital asset to be so held, then, the capital gain

GOVERDHAN SIGH SHEKHAWAT,JAIPUR vs. ITO, JAIPUR

charitable trusts, there were no mala fides and the assessee-trust immediately withdrew the deposits on 11 Shri Goverdhan Singh Shekhawat vs. ITO becoming aware of the fact that the said concerns were not permitted to receive deposits—Therefore, there is no infirmity in the order of the Tribunal allowing assessee’s claim for exemption under s. 11 requiring

OM KOTHARI FOUNDATION,JAIPUR, RAJASTHAN vs. ITO, (EXEMPTION) WARD-1, JAIPUR, JAIPUR, RAJASTHAN

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

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

trust by trustees etc. It does not say that application of income should be such that it may necessarily result in revenue expenditure. The charitable purpose may, in a given case, require for its fulfilment purchase of a capital asset and where income is applied for purchase of such a capital asset, it would be still be application of income

HINDUSTAN SALES INDUSTRIAL CORPORATION,JAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, JAIPUR

In the result, the appeal of the assessee is allowed

capital gain and the deduction claimed is less than 5 % only and the issues raised in proceedings u/s 263 of the Act were already considered and examined by the AO. It is also notable that initiation of proceedings u/s 263 of the Act amounts to second scrutiny/ investigation of the facts of the case and is mere suspicion

INCOME TAX OFFICER, JAIPUR vs. RVCF TRUST-II, JAIPUR, JAIPUR

In the result, the appeal of the Revenue is dismissed

Bench: The Income Tax Appellate Tribunal, Jaipur Within 30 Days I.E. On Or Before 13.06.2022. In View Of The Above The Physical Appeal Was Filed On 19.05.2022 Well Before 12.06.2022 As Directed In The Said Mail.

gain governed by the SEBI Venture Capital Regulations, 1996. The corpus fund is held by various central and state government undertaking and PSU banks for the purpose of financing venture capital undertakings. The whole idea of constitution of the trust is the pooling capital undertakings, which supports entrepreneurship and innovations. 14. From the argument

SAJJAD ALI,CHITTORGARH vs. DCIT(INTL)- JAIPUR, JAIPUR

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

gain from sale of flat—Assessee has reflected that same in its capital account—Further in response to letter issued by AO during assessment proceedings, assessee submitted his reply explaining reason for increase in capital—However, Pr. CIT exercising jurisdiction under section 263, directed AO to make fresh assessment on issues which were not subject matter of limited scrutiny—Since

M/S WHOLESALE CLOTH MERCHANT,KOTA vs. PR. COMMISSIONER OF INCOME TAX (CENTRAL), RAJASTHAN, JAIPUR

In the result, appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 688/Jp/2019 Assessment Year: ………………………… M/S Wholesale Cloth Merchant Cuke Pr.C.I.T. (Central), Vs. Association, Jaipur (Rajasthan) New Cloth Market, Kota. Pan No.: Aaatw 0127 C Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Siddarth Ranka & Shri Shravan Kr. Gupta (Advs) Jktlo Dh Vksj Ls@ Revenue By : Shri Ambrish Bedi (Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 14/10/2020 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 06/01/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. The Present Appeal Has Been Filed By The Assessee Against The Order Of The Ld. Pr.Cit(Central), Rajasthan, Jaipur Dated 22/03/2019 Passed U/S 12Aa(3) & 12Aa(4) Of The Income Tax Act, 1961 (In Short, The Act). Following Grounds Have Been Taken By The Assessee: “1. That In The Facts & In The Circumstances Of The Case & In Law, The Ld Pr. Cit(Central), Rajasthan, Jaipur Has Grossly Erred In Cancelling The Registration Of The Assessee Appellant Trust Under Section 12A Of The Act By Invoking Section 12Aa(4) Of The Act W.E.F. 01/04/2013. 2. The Appellant Craves Leave To Add, Alter, Modify Or Amend Any Ground On Or Before The Date Of Hearing.”

Charitable activity - grating exemption u/s 10(23C)(vi) - exemption u/s 11 - CCIT observed that, assessee cannot be said to be existed only for educational purposes and accordingly rejected the contention of the assessee for grating exemption u/s 10(23C)(vi) - Held that:- ITAT Delhi Bench in the case of Puranchand Dharmath Trust Vs. ITO, Wd-1, Gurgaon

URBAN IMPROVEMENT TRUST (NOW KOTA DEVELOPMENT AUTHORITY),KOTA vs. DCIT (EXEMPTIONS), CIRCLE, JAIPUR, JAIPUR

In the result, the assessee's income is found to be not chargeable\nunder the Income Tax Act at all and the AO is directed to delete the additions\nmade, irrespective of the head of income

gains from business or profession'-A. The non plan expenditure incurred for\ndevelopment work amounting to Rs.3390.12 Lakhs. B. The expenditure incurred for\ndevelopment of Kachhi Basti amounting to Rs.49.67 Lakhs. C. The expenditure for\ndevelopment work included under head \"Deposit Work\" amounting to Rs.92.23 Lakhs. D.\nThe expenditure for repair and maintenance of vehicles under head 'Machinery & Plant'\namounting

DCIT, EXEMPTIONS, CIRCLE, JAIPUR, JAIPUR vs. URBAN IMPROVEMENT TRUST, KOTA

In the result, the assessee's income is found to be not chargeable\nunder the Income Tax Act at all and the AO is directed to delete the additions\nmade, irrespective of the head of income

gains from business or profession'-A. The non plan expenditure incurred for\ndevelopment work amounting to Rs.3390.12 Lakhs. B. The expenditure incurred for\ndevelopment of Kachhi Basti amounting to Rs.49.67 Lakhs. C. The expenditure for\ndevelopment work included under head \"Deposit Work\" amounting to Rs.92.23 Lakhs. D.\nThe expenditure for repair and maintenance of vehicles under head 'Machinery & Plant'\namounting

URBAN IMPROVEMENT TRUST,KOTA vs. DCIT (EXEMPTIONS), CIRCLE, JAIPUR, JAIPUR

In the result, the assessee's income is found to be not chargeable\nunder the Income Tax Act at all and the AO is directed to delete the additions\nmade, irrespective of the head of income

gains from business or profession'-A. The non plan expenditure incurred for\ndevelopment work amounting to Rs.3390.12 Lakhs. B. The expenditure incurred for\ndevelopment of Kachhi Basti amounting to Rs.49.67 Lakhs. C. The expenditure for\ndevelopment work included under head \"Deposit Work\" amounting to Rs.92.23 Lakhs. D.\nThe expenditure for repair and maintenance of vehicles under head 'Machinery & Plant'\namounting

URBAN IMPROVEMENT TRUST (NOW KOTA DEVELOPMENT AUTHORITY),KOTA vs. DCIT (EXEMPTIONS), CIRCLE, JAIPUR, JAIPUR

In the result, the assessee’s income is found to be not chargeable under the Income Tax Act at all and the AO is directed to delete the additions made, irrespective of the head of income

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyalacit, Exemption, Circle, Jaipur ...... Appellant Vs.

gains from business or profession'-A. The non plan expenditure incurred for development work amounting to Rs.3390.12 Lakhs. B. The expenditure incurred for development of Kachhi Basti amounting to Rs.49.67 Lakhs. C. The expenditure for development work included under head "Deposit Work" amounting to Rs.92.23 Lakhs. D. The expenditure for repair and maintenance of vehicles under head 'Machinery & Plant' amounting

URBAN IMPROVEMENT TRUST (NOW KOTA DEVELOPMENT AUTHORITY),KOTA vs. DCIT (EXEMPTIONS), CIRCLE, JAIPUR, JAIPUR

In the result, the assessee's income is found to be not chargeable\nunder the Income Tax Act at all and the AO is directed to delete the additions\nmade, irrespective of the head of income

gains from business or profession'-A. The non plan expenditure incurred for\ndevelopment work amounting to Rs.3390.12 Lakhs. B. The expenditure incurred for\ndevelopment of Kachhi Basti amounting to Rs.49.67 Lakhs. C. The expenditure for\ndevelopment work included under head \"Deposit Work\" amounting to Rs.92.23 Lakhs. D.\nThe expenditure for repair and maintenance of vehicles under head 'Machinery & Plant'\namounting

URBAN IMPROVEMENT TRUST,KOTA vs. DCIT (EXEMPTIONS), CIRCLE, JAIPUR, JAIPUR

In the result, the assessee's income is found to be not chargeable\nunder the Income Tax Act at all and the AO is directed to delete the additions\nmade, irrespective of the head of income

gains from business or profession'-A. The non plan expenditure incurred for\ndevelopment work amounting to Rs.3390.12 Lakhs. B. The expenditure incurred for\ndevelopment of Kachhi Basti amounting to Rs.49.67 Lakhs. C. The expenditure for\ndevelopment work included under head \"Deposit Work\" amounting to Rs.92.23 Lakhs. D.\nThe expenditure for repair and maintenance of vehicles under head 'Machinery & Plant'\namounting

DCIT, EXEMPTIONS, CIRCLE, JAIPUR, JAIPUR vs. URBAN IMPROVEMENT TRUST, KOTA

In the result, the assessee's income is found to be not chargeable\nunder the Income Tax Act at all and the AO is directed to delete the additions\nmade, irrespective of the head of income

gains from business or profession'-A. The non plan expenditure incurred for\ndevelopment work amounting to Rs.3390.12 Lakhs. B. The expenditure incurred for\ndevelopment of Kachhi Basti amounting to Rs.49.67 Lakhs. C. The expenditure for\ndevelopment work included under head \"Deposit Work\" amounting to Rs.92.23 Lakhs. D.\nThe expenditure for repair and maintenance of vehicles under head 'Machinery & Plant'\namounting

DCIT, EXEMPTIONS, CIRCLE, JAIPUR, JAIPUR vs. URBAN IMPROVEMENT TRUST, KOTA

In the result, the assessee's income is found to be not chargeable\nunder the Income Tax Act at all and the AO is directed to delete the additions\nmade, irrespective of the head of income

gains from business or profession'-A. The non plan expenditure incurred for\ndevelopment work amounting to Rs.3390.12 Lakhs. B. The expenditure incurred for\ndevelopment of Kachhi Basti amounting to Rs.49.67 Lakhs. C. The expenditure for\ndevelopment work included under head \"Deposit Work\" amounting to Rs.92.23 Lakhs. D.\nThe expenditure for repair and maintenance of vehicles under head 'Machinery & Plant'\namounting

URBAN IMPROVEMENT TRUST,KOTA vs. DCIT (EXEMPTIONS), CIRCLE, JAIPUR, JAIPUR

In the result, the assessee's income is found to be not chargeable\nunder the Income Tax Act at all and the AO is directed to delete the additions\nmade, irrespective of the head of income

gains from business or profession'-A. The non plan expenditure incurred for\ndevelopment work amounting to Rs.3390.12 Lakhs. B. The expenditure incurred for\ndevelopment of Kachhi Basti amounting to Rs.49.67 Lakhs. C. The expenditure for\ndevelopment work included under head \"Deposit Work\" amounting to Rs.92.23 Lakhs. D.\nThe expenditure for repair and maintenance of vehicles under head 'Machinery &\nPlant' amounting

URBAN IMPROVEMENT TRUST,KOTA vs. DCIT (EXEMPTIONS), CIRCLE, JAIPUR, JAIPUR

In the result, the assessee's income is found to be not chargeable\nunder the Income Tax Act at all and the AO is directed to delete the additions\nmade, irrespective of the head of income

gains from business or profession'-A. The non plan expenditure incurred for\ndevelopment work amounting to Rs.3390.12 Lakhs. B. The expenditure incurred for\ndevelopment of Kachhi Basti amounting to Rs.49.67 Lakhs. C. The expenditure for\ndevelopment work included under head \"Deposit Work\" amounting to Rs.92.23 Lakhs. D.\nThe expenditure for repair and maintenance of vehicles under head 'Machinery & Plant'\namounting

ACIT, EXEMPTIONS, CIRCLE , JAIPUR, JAIPUR vs. URBAN IMPROVEMENT TRUST, KOTA

In the result, the assessee’s income is found to be not chargeable under the Income Tax Act at all and the AO is directed to delete the additions made, irrespective of the head of income

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyalacit, Exemption, Circle, Jaipur ...... Appellant Vs.

gains from business or profession'-A. The non plan expenditure incurred for development work amounting to Rs.3390.12 Lakhs. B. The expenditure incurred for development of Kachhi Basti amounting to Rs.49.67 Lakhs. C. The expenditure for development work included under head "Deposit Work" amounting to Rs.92.23 Lakhs. D. The expenditure for repair and maintenance of vehicles under head 'Machinery & Plant' amounting

DCIT, EXEMPTIONS, CIRCLE, JAIPUR, JAIPUR vs. URBAN IMPROVEMENT TRUST, KOTA

In the result, the assessee's income is found to be not chargeable\nunder the Income Tax Act at all and the AO is directed to delete the additions\nmade, irrespective of the head of income

gains from business or profession'-A. The non plan expenditure incurred for\ndevelopment work amounting to Rs.3390.12 Lakhs. B. The expenditure incurred for\ndevelopment of Kachhi Basti amounting to Rs.49.67 Lakhs. C. The expenditure for\ndevelopment work included under head \"Deposit Work\" amounting to Rs.92.23 Lakhs. D.\nThe expenditure for repair and maintenance of vehicles under head 'Machinery & Plant'\namounting