INSTITUTE MANAGEMENT COMMITTEE ITI JHALAWAR,JHALAWAR vs. ITO WARD JHALAWAR, JHALAWAR

The appeals of the assessee are hereby allowed

gains were not\ntreated to be genuine, AO also rejected claim of assessee for exemption u/s\n54F—CIT(A) held that, rejection of claim of exemption u/s 54F by AO, was in\norder-Held, section 54F, neither provided as pre-condition requirement of filing\nof ‘return of income' by assessee within stipulated time period, nor places any\nembargo as regards

INSTITUTE MANAGEMENT COMMITTEE ITI JHALAWAR ,JHALAWAR vs. ITO WARD JHALAWAR, JHALAWAR

The appeals of the assessee are hereby allowed

gains were not\ntreated to be genuine, AO also rejected claim of assessee for exemption u/s\n54F—CIT(A) held that, rejection of claim of exemption u/s 54F by AO, was in\norder-Held, section 54F, neither provided as pre-condition requirement of filing\nof ‘return of income' by assessee within stipulated time period, nor places any\nembargo as regards

SHRI ASHNUTH GOYAL,JAIPUR vs. ACIT, WARD -1(3), JAIPUR

In the result, the appeal of the assessee is allowed

Bench: Him. Thus, The Addition Of Rs. 30,04,864/- So Uphold Deserves To Be Deleted. Shri Ashnuth Goyal Vs Acit, Ward 1(3), Jaipur

section 10(38). Further, ld.AO had referred some order of SEBI having no direct reference of the assessee. During eh course of assessment proceeding, opportunity for cross examination of the witnesses of the department i.e. the above named two SHRI ASHNUTH GOYAL VS ACIT, WARD 1(3), JAIPUR persons whose statements were solely relied upon to conclude that the assessee

NIRMAL KUMAR AGRAWAL,JAIPUR vs. DCIT, CIRCLE - 4 , JAIPUR

In the result, the appeal of the assessee is allowed

10(38)/68: Long Term capital gains on sale of “penny” stocks cannot be treated as bogus & unexplained cash credit if the documentation is in order & there is no allegation of manipulation by SEBI or the BSE. Denial of right of cross- examination is fatal flaw which renders the assessment order a nullity. Dolarrai Hemani vs. ITO (ITAT Kolkata) Penny

RAJRAJESHWARI GUPTA ,KOTA vs. ITO , WARD 1(1),KOTA, KOTA

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

Bench: Hon’ble SHRI SANDEEP GOSAIN (Judicial Member)

section 68. 26 RAJ RAJESHWARI GUPTA VS ITO, WARD 1(3), KOTA 1.31As the issue involved is of chargeability of long term capital gain as undisclosed income of the assessee u/s 68 of the Act, it may be mentioned that many High courts and ITAT benches have held in favour of the assessee. In one of the cases

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S RIGID CONDUCTORS (RAJ.) PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

capital asset within the meaning of section 2(14) of the I.T. Act, 1961. Accordingly capital gain tax is leviable on compulsory acquisition of the land. In this connection it is submitted that the above said finding of the ld. AO was based on the enquiries made from the Tehsildar, Sanganer vide his letter dated 14.11.2019 and 15.11.2019 and also

DEPUTY COMMISSINER OF INCOME TAX, LIC BUILDING vs. M/S GEE VEE DEVELOPERS PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

capital asset within the meaning of section 2(14) of the I.T. Act, 1961. Accordingly capital gain tax is leviable on compulsory acquisition of the land. In this connection it is submitted that the above said finding of the ld. AO was based on the enquiries made from the Tehsildar, Sanganer vide his letter dated 14.11.2019 and 15.11.2019 and also

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S CHOKHI DHANI DEVELOPERS PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

capital asset within the meaning of section 2(14) of the I.T. Act, 1961. Accordingly capital gain tax is leviable on compulsory acquisition of the land. In this connection it is submitted that the above said finding of the ld. AO was based on the enquiries made from the Tehsildar, Sanganer vide his letter dated 14.11.2019 and 15.11.2019 and also

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S VISION ESTATES PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

capital asset within the meaning of section 2(14) of the I.T. Act, 1961. Accordingly capital gain tax is leviable on compulsory acquisition of the land. In this connection it is submitted that the above said finding of the ld. AO was based on the enquiries made from the Tehsildar, Sanganer vide his letter dated 14.11.2019 and 15.11.2019 and also

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.”

46 ITA 688/JP/2019_ M/s Wholesale Cloth Merchant Association Vs Pr.CIT Capital gains—Capital gain on transfer of certain capital assets not to be charged in case of investment in residential house—Rejection of claim of exemption—Case of assessee was re-opened and notice u/s 148 was issued—Assessee filed her return of income declaring taxable income after claiming exemption

SHIVA CORPORATION (INDIA) LIMITED,JAIPUR vs. DY. CIT, CC-3, JAIPUR

In the result, appeal of the assessee stands allowed

10,000, Tribunal was justified in holding land in question\nsold by assessee which was situated in said village was an agricultural\nland\nKulwant Singh vs. Income-tax Officer [2024] 165 taxmann.com 383\n(Chandigarh - Trib.)[26-04-2024]\nSection 2(14) of the Income-tax Act, 1961 - Capital gains - Capital asset\n(Agricultural land) Assessment year 2015-16 Assessee

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD., KOTA

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

10,962/ made u/s 14A of the Act in para 5(i) covers disallowance required to be made u/s 36(1)(iii). l) Accordingly, disallowance of Rs. 29,36,97,412/- (21,07,21,984 + 8,29,75,428) is made out of interest paid by the assessee on borrowed funds

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD, KOTA

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

10,962/ made u/s 14A of the Act in para 5(i) covers disallowance required to be made u/s 36(1)(iii). l) Accordingly, disallowance of Rs. 29,36,97,412/- (21,07,21,984 + 8,29,75,428) is made out of interest paid by the assessee on borrowed funds

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD, KOTA

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

10,962/ made u/s 14A of the Act in para 5(i) covers disallowance required to be made u/s 36(1)(iii). l) Accordingly, disallowance of Rs. 29,36,97,412/- (21,07,21,984 + 8,29,75,428) is made out of interest paid by the assessee on borrowed funds

INCOME TAX OFFICER, WARD-1-5, JAIPUR vs. SHRI BANWARI LAL SHARMA, JAIPUR

In the result, both the appeals filed by the assessee and Revenue are disposed off in light of aforesaid directions

capital gain tax, it was duty of the assessee as an agent and representative assessee of the seller which assessee failed to make payment of tax.” which in effect, demonstrate consistent application of and in continuation of the earlier orders passed in the capacity of the representative assessee. Further, as rightly pointed out by the ld CIT(A), mere mentioning

SHRI BANWARI LAL SHARMA,JAIPUR vs. INCOME TAX OFFICER, WARD-1-5, JAIPUR

In the result, both the appeals filed by the assessee and Revenue are disposed off in light of aforesaid directions

capital gain tax, it was duty of the assessee as an agent and representative assessee of the seller which assessee failed to make payment of tax.” which in effect, demonstrate consistent application of and in continuation of the earlier orders passed in the capacity of the representative assessee. Further, as rightly pointed out by the ld CIT(A), mere mentioning

ALOK KUMAR JAIN ,PEARL PLEASURE vs. ACIT CIR-6, JAIPUR, NEW CERNTRAL REVENUE BUILDING, BHAGWAN DASS ROAD, JAIPUR, RAJASTHAN,

Bench: Him.

capital gain (Rs. 4,77,46,835/-) of exemption u/s 10(38) of IT Act do not suffer from infirmities and cannot be held as bogus ignoring the fact that the impugned transaction was manipulated/deceptive device to create profit/loss? 3. Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) is justified in deleting

DEPUTY COMMISSIONER OF INCOME TAX, ALWAR vs. ASHOK SHARMA, REWARI

In the result, the appeal of the revenue stand dismissed

46,70,182.00\nAmount of compensation By High Court in year 2016\nCompensation Rs.5,60,56,954.00\nInterest u/s 28 of Lac Act 1894 Rs.8,86,73,960.00\nSir, the above said interest was received under section 28 of LAC Act\n1894. Copy of certificate of interest received from LAC officer, Gurgaon\nis enclosed.\n5.That the land was urban agriculture