RAKESH KUMAR JAIN,JAIPUR vs. DCIT,CIRCLE-2, JAIPUR, JAIPUR

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

Bench: Or At The Time Of Hearing Of The Appeal & / Or Modify Any Of The Above Grounds.

capital gains tax, did not disclose the profits arising on its sale. The case was selected for scrutiny through CASS which was finalized u/s 143(3) of the IT Act. 1961 determining total income Rs. 1,14,75,790/- on 05.12.2016 An addition of Rs 1,14,75,791/-was made on account of LTCG on sale of the impugned

SUPERFINE HOTELS PRIVATE LIMITED,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-6,, JAIPUR

In the result, appeal of the assessee is partly allowed

gain tax, but that cannot be a case\nof penalty under s.271(1)(c). If it has claimed any exemption after\ndisclosing the relevant basic facts and under the ignorance of the\nprovision of the Act, and not offered that amount for tax, in such cases,\npenalty should not be imposed. In such cases rather it is the duty

ASSISTANT COMMISSIONER OF INCOME TAX,EXEMPTIONS,CIRCLE,JAIPUR, JAIPUR vs. GLOBAL INSTITUTE OF TECHNOLOGY SOCIETY, JAIPUR RAJASTHAN

In the results the appeal of the revenue stands dismissed

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

capital expenditure as application out of receipts for the year. Not pressed. Additional Ground :- The learned AO has wrongly disallowed the claim of benefit u/s 11 & 12 of the Income Tax Act, 1961 for violation of section 13(1)(c) r.w.s. 13(2)(b)/(g) of the Income Tax Act, 1961. The assessee has not taken this ground in original

INDIRA GIRI,JAIPUR vs. ASSESSING OFFICER, INCOME TAX DEPARMENT JAIPUR

The appeal of the assessee is allowed

Bench: The Due Date Of Furnishing Itr, Therefore Deposit In Capital Gain Account For Compliance U/S 54(2) Was Impossible On The Part Of The Assessee.

C Capital Gain (A-B) 1431596/- D Less: Deduction u/s 54EC 50,00,000/- E Less: Deduction u/s 54F(1) 26,73,955/- 76,73,955/- (on the payment of Rs. 28 Lacs) F Capital Gain liable for Tax 66,41,252/- 6. Ld. CIT(A), NFAC, Delhi upheld the order of the Assessing Officer on the ground that Assessee

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)

gains of business or profession, cannot be imported to Chapter III under which income which does not form part of total income is to be computed. [Para 13.1] Under section 11(1)(a) when income is applied for acquisition of capital asset which is treated as applied, the claim of depreciation on same income will amount to double deduction. Moreover

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

capital\ngain and therefore, initiated inquiry by issuing summons u/s 131 and the\nassessee while preparing the details for onward submissions, realised that he\ncommitted an inadvertent mistake (while preparing the reply) and on the review\nof the return initially filed therefore, offered to pay the differential amount of the\ncapital gain which was offered vide letter dated 13.06.2014. Pursuant

AJOY SHARMA,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

capital\ngain and therefore, initiated inquiry by issuing summons u/s 131 and the\nassessee while preparing the details for onward submissions, realised that he\ncommitted an inadvertent mistake (while preparing the reply) and on the review\nof the return initially filed therefore, offered to pay the differential amount of the\ncapital gain which was offered vide letter dated 13.06.2014. Pursuant

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

capital\ngain and therefore, initiated inquiry by issuing summons u/s 131 and the\nassessee while preparing the details for onward submissions, realised that he\ncommitted an inadvertent mistake (while preparing the reply) and on the review\nof the return initially filed therefore, offered to pay the differential amount of the\ncapital gain which was offered vide letter dated 13.06.2014. Pursuant

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

capital\ngain and therefore, initiated inquiry by issuing summons u/s 131 and the\nassessee while preparing the details for onward submissions, realised that he\ncommitted an inadvertent mistake (while preparing the reply) and on the review\nof the return initially filed therefore, offered to pay the differential amount of the\ncapital gain which was offered vide letter dated 13.06.2014. Pursuant

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

capital\ngain and therefore, initiated inquiry by issuing summons u/s 131 and the\nassessee while preparing the details for onward submissions, realised that he\ncommitted an inadvertent mistake (while preparing the reply) and on the review\nof the return initially filed therefore, offered to pay the differential amount of the\ncapital gain which was offered vide letter dated 13.06.2014. Pursuant

KATRATHAL GRAM SEWA SAHKARI SAMITI LIMITED ,KATRATHAL vs. ITO WARD 1 SIKAR, SIKAR

C-Deductions in respect of certain incomes.\"\r\nno such deduction shall be allowed to him unless he furnishes a return of this\r\nincome for such assessment year on or before the due date specified under\r\nsub-section (1) of Section 139.]\"\r\nOn a perusal of the aforesaid statutory provision, it transpires that sub-section

GURUVENDRA SINGH ,KOTA vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1, KOTA, KOTA

In the result, appeal of the assessee is allowed

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

C = D-E-F- (G) (D) (B) G) (A) 2014-15 14,10,855 Nil 82,62,098 23,464 49,93,000 34,45,634 2015-16 27,87,770 Nil 2,00,04,860 56,812 1,54,73,930 44,74,118 2016-17 18,55,935 Nil 14784290 41,987 1

BITTHAL DAS PARWAL,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3 , JAIPUR

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

Bench: Him. 2. In This Appeal, The Assessee Has Raised The Following Grounds: -

section 271(1)(c) held that assessee has concealed particulars of its true income to the extent of Rs. 6,19,338/- and so liable for penalty u/s 271 (1) (c) of the L. T. Act, 1961 and vide impugned penalty order levied penalty of Rs. 1,91,375/- u/s 271 (1) (c) of the I.T. Act. The present appeal

ROSHAN LAL,ALWAR vs. INCOME TAX OFFICER, BHIWADI

Appeal of the assessee is allowed for

Bench: The Hon'Ble Income Tax Appellate Tribunal, Jaipur.

13 Roshal Lal vs. ITO Section 234A and Section 234B of the Income Tax Act and in initiating penalty proceedings under Section 271(1)(b) , Section 271(1)(c) and Section 271F in respect of the addition made under Section 69A for alleged concealment of income. 20. In light of the above facts and legal contentions, the Appellant, with utmost

DCIT,C-7, JAIPUR vs. BHARAT MOHAN RATURI, JAIPUR

In the result, the appeal of the Department is dismissed and that of the C

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;djvihy la-@ITA No. 413/JP/2022 fu/kZkj.ko"kZ@AssessmentYear :2013-14 The DCIT Circle-7 Jaipur cuke Vs. Shri Bharat Mohan Raturi 161, Indira Colony, Bani Park Jaipur 302 015 (Raj) LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: AANPR 7066G vihykFkhZ@Appellant izR;FkhZ@Respondent CO No. 2/JP/2023 (Arising out of vk;djvihy la-@ITA No. 413/JP/2022 ) fu/kZkj.ko"kZ@AssessmentYear :2013-14 Shri Bharat Mohan Raturi 161, Indira

13-16) Section 54F of the Income-tax Act, 1961 - Capital gains - Exemption of, in case of investment in residential house (Ownership of more than one house) - Assessment year 2013-14 - Whether where a residential property is jointly owned by two persons 20 DCIT, CIRCLE-7, JAIPUR VS BHARAT MOHAN RATURI that would not preclude an assessee from claiming exemption

VAIBHAV GLOBAL LIMITED,JAIPUR vs. DCIT, CENTRAL CIRCLE-4, JAIPUR , JAIPUR

In the result, the appeal of the assessee is allowed

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

c) ,1(d) and Profession ion is to be adjusted 3(a) in Other source Schedule. 3(a) in Other source Schedule. in the schedule. in the schedule. In In Schedule Schedule BP, BP, Sl.No.15 Sl.No.15 "Amounts debited to the profit and "Amounts debited to the profit and loss loss account, account, to to the the extent extent

DCIT CENTRAL CIRCLE AJMER, AJMER vs. YASHWANT KUMAR SHARMA, AJMER

In the result, the appeal of the revenue is dismissed and the cross

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 210/JP/2023 fu/kZkj.k o"kZ@Assessment Years : 2020-21 DCIT, Central Circle, Ajmer cuke Vs. Yashwant Kumar Sharma F-108, Industrial Area, Makhupura Parbatpura, Ajmer LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: ASWPS 3791 E vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@C.O. No. 04/JP/2023 (Arising out of ITA Nos. 210/JP/2023) fu/kZkj.k o"kZ@Assessment Years : 2020-21 Yashwant Kumar Sharma

1 ls 13 rd½ i<+ fy;k gS rFkk muds c;ku ls eS iw.kZr% lger gwaA 9.1 It is evident that the income disclosed by the assessee is voluntary based on the loose paper. It is also not in dispute that against this income the revenue could corroborate any money, bullion, jewellery or other valuable article or thing (referred

KIRAN YADAV,JAIPUR vs. INCOME TAX OFFICER, WARD-1(3), JAIPUR, JAIPUR

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

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

13 KIRAN YADAV VS ITO, WARED 1(3), JAIPUR To support the case, the ld. AR of the assessee has filed the following paper book. S.N. Details of documents Page No. 1. Copy of notice u/s 147 of the Act vide DIN & Notice 1 No. ITBA/AST/148/2020-21/1032056321(1) dated 31-03-2021 2. Computation Sheet Capital Gain working