MADAN MOHAN GUPTA ,KOTA vs. ITO WARD 1(3) , KOTA

dividends and\nsound financial conditions. All the transactions of the sale of shares have\nresulted into huge abnormal profits, which is not possible in normal course of\ninvestment. However, evidence indicating sham transactions by all the investors\nwere not found by the Department, but the pattern of investment, the modus\noperandi adopted is largely same for 100% of investors

INCOME TAX OFFICER, JAIPUR vs. RENU AGARWAL, JAIPUR

In the result, appeal of the Revenue is dismissed

deemed income of the assessee u/s 68 of the I.T. Act 1961 without considering the facts of the case?\n3. Whether on the facts and circumstances of the case and in law, the ld. CIT (A) was right in ignoring the fact that the assessee was involved in dealing of purchase and sale of shares in the scrip of Eins

RAJESH GUPTA,KOTA vs. INCOME TAX OFFICER, WARD -2(2), KOTA

In the result, appeal of the assessee is allowed

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

dividend receipts of Rs.13,830/- exempted which hold during his business activities as trading of shares in cash segment on the basis of aggregating of the both margins viz. positive & negative at Rs. 28,35,802 which has not declared in his ITR for the year under consideration. Thus, the assessee has neither disclosed his income in accordance

ASSISSTANT COMMISSIONER OF INCOME TAX, AJMER vs. SHREE CEMENT LTD, BEAWAR

Accordingly, the same is dismissed

capital gain arising to an assessee u/s 50 on a depreciable asset is liable to be excluded from calculation of deemed profits u/s 115JA. Exemption/ deduction allowed by one provision of the Act cannot be taken away by another provision of the Act. Sec. 115JA, the predecessor to Sec. 115JB, was introduced to the statute book and the budget speech

M/S SKYWAYS TOWNSHIP PVT. LTD.,JAIPUR vs. INCOME TAX OFFICER, WARD-4-2, JAIPUR

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

capital gains arising before the 1st day of April, 1946, or after the 31st day of March, 1948, and before the 1st day of April, 1956. Explanation 2.—The expression "accumulated profits" in sub-clauses (a), (b), (d) and (e), shall include all profits of the company up to the date of distribution or payment referred to in those

M/S SKYWAYS TOWNSHIP PVT LTD. 1/2 LIC FLATS, VIDYADHAR NAGAR, SECTOR-6, JAIPUR,JAIPUR vs. DCIT CIRCLE-4, JAIPUR, JAIPUR

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

capital gains arising before the 1st day of April, 1946, or after the 31st day of March, 1948, and before the 1st day of April, 1956. Explanation 2.—The expression "accumulated profits" in sub-clauses (a), (b), (d) and (e), shall include all profits of the company up to the date of distribution or payment referred to in those

SMT. MANJU GUPTA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-4, JAIPUR

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

capital gains arising before the 1st day of April, 1946, or after the 31st day of March, 1948, and before the 1st day of April, 1956. Explanation 2.—The expression "accumulated profits" in sub-clauses (a), (b), (d) and (e), shall include all profits of the company up to the date of distribution or payment referred to in those

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.

capital gain arising to an assessee u/s 50 on a depreciable asset is liable to be excluded from calculation of deemed profits u/s 115JA. Exemption/ deduction allowed by one provision of the Act cannot be taken away by another provision of the Act. Sec. 115JA, the predecessor to Sec. 115JB, was introduced to the statute book and the budget speech

SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT CENTRE, DEPUTY COMMISSIONEROF INCOME TAX, CIRCLE -2, AJMER, AJMER

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

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

capital gain arising to an assessee u/s 50 on a depreciable asset is liable to be excluded from calculation of deemed profits u/s 115JA. Exemption/ deduction allowed by one provision of the Act cannot be taken away by another provision of the Act. Sec. 115JA, the predecessor to Sec. 115JB, was introduced to the statute book and the budget speech

KATH BROTHERS,JAIPUR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

capital gains, nor is it income from other sources' because the provisions of sections 69, 69A, 69B, and 69C treat unexplained investments, unexplained money, bullion, etc., and unexplained expenditure as deemed income where the nature and source of investment, acquisition or expenditure, as the case may be, have not been explained or satisfactorily explained. Therefore, in these cases, the source

ASSISSTANT COMMISSIONER OF INCOME TAX, AJMER vs. SHREE CEMENT LTD, BEAWAR

capital gain arising to an assessee u/s 50 on a\ndepreciable asset is liable to be excluded from calculation of deemed\nprofits u/s 115JA. Exemption/ deduction allowed by one provision of\nthe Act cannot be taken away by another provision of the Act. Sec.\n115JA, the predecessor to Sec. 115JB, was introduced to the statute\nbook and the budget speech

SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT ASSESSMENT CENTRE, DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2, AJMER, AJMER

capital gain arising to an assessee u/s 50 on a depreciable asset is liable to be excluded from calculation of deemed profits u/s 115JA. Exemption/ deduction allowed by one provision of the Act cannot be taken away by another provision of the Act. Sec. 115JA, the predecessor to Sec. 115JB, was introduced to the statute book and the budget speech

AU SMALL FINANCE BANK LIMITED,JAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, JAIPUR-1

In the result both the appeals filed by the assessee in ITA

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

dividend income cannot be ruled out. The AO having regard to the accounts of the assessee of the previous yeas was not satisfied with the correctness of the claim of the assessee that the assessee had not M/s. AU Small Finance Bank Limited & Avas Financiers Limited incurred any expenditure in relation to investments, therefore, the amount of expenditure in relation

SHREE CEMENT LIMITED,BEAWAR vs. DEPUTY COMMISSIONER OF INCOME TAX, AJMER

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

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

capital gain arising to an assessee under s. 50 on a depreciable asset is liable to be excluded from calculation of deemed profits under s. 115JA. Exemption/deduction allowed by one provision of the Act cannot be taken away by another provision of the Act. Sec. 115JA, the predecessor to s. 115JB, was introduced to the statute book and the Budget

ANUSHA FINVEST PVT LTD ,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 1, JAIPUR

In the result, the appeal of the assessee is allowed

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

dividend and capital appreciation. Whereas, cash market transactions are made for the purpose of trading business, which is properly classified as stock-in-trade. In our view, assessee itself is investment banker and makes investments in stock in order to make profit. The investment made for the business transactions, which can be classified only under business income in particular

CAREER POINT LIMITED,KOTA, RAJASTHAN vs. PRINCIPAL COMMISSIONER OF INCOME TAX, UDAIPUR, RAJASTHAN

In the result, the appeal of the assessee is allowed

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

dividend and tax free interest, no part of expenditure appears to have been made towards the investment activity as emerging from the material. According to the respondent, the total investment from the huge surplus is comparatively small and investment made was effortless, without any burden of administrative expenses. In view of fact that no expenditure was incurred for earning exempted

SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT CENTRE, DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -2, AJMER, AJMER

capital gain arising to an assessee u/s 50 on a \ndepreciable asset is liable to be excluded from calculation of deemed \nprofits u/s 115JA. Exemption/ deduction allowed by one provision of \nthe Act cannot be taken away by another provision of the Act. Sec. \n115JA, the predecessor to Sec. 115JB, was introduced to the statute \nbook and the budget speech

ACIT, JAIPUR vs. UDAI BUILDHOME PVT LTD, JAIPUR

In the result, all the appeals of the revenue are dismissed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM आयकर अपील सं. / ITA Nos.1399, 1400, 1401 & 1486/JP/2024 निर्धारण वर्ष / Assessment Years : 2014-15, 2015-16, 2017-18 & 2018-19 Asstt. Commissioner of Income बनाम M/s Udai Buildhome Pvt. Tax, Vs. Ltd. 302, Golden Sunrise Central Circle-02, Jaipur Apartment, Lajpat Marg, C- Scheme, Jaipur स्थायी लेखा सं. / जीआईआर सं./PAN/GIR No.: AABCU 5068 J अपीलार्थी / Appellant प्रत्यर्थी / Respondent निर्धारिती की ओर से / Assessee

dividend, commission and capital gains only. The company has no business activity and despite the said company has shown a large amount in security premium account and using these funds for giving loans. The company is using their funds for investment in unlisted equity shares and providing loans only. 5.4 From perusal of the financials disclosed by the above companies