KULDEEP SINGH SHEKHAWAT,KOTA vs. ITO W-2(1), KOTA, KOTA

In the result, the appeal of the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Gagan Goyalkuldeep Singh Shekhawat, 11, Samridhi Traders, Police Line, Gopal Vihar, Baran Road-324001 Pan No. Araps0973M ...... Appellant Vs. Income Tax Officer, Ward-2(1), Kota …... Respondent

Capital Gains Account Scheme, can be made till the date of belated return under section 139(4) or revised return under section 139(5) as the wordings used in section 54(2) is "section 139", and not section 139(1), which covers all sub-sections of section 139". The Supreme Court, in the context of interpretation of provisions of 276CC

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.

139(1) - Whether booking of flat with a builder was a case of construction and not purchase of residential flat and, therefore, time period applicable would be 3 years, which would expire on 6-3-2009 - Held, yes - Whether, since assessee had made investment within period of three years, exemption under section 54 could not be denied - Held, yes - Whether

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

9. Provisions of section 54 and 54F, as applicable in the relevant assessment year, are reproduced below for the ease of discussions: Sec. 54: Profit on sale of property used for residence. 54. 39[(1)] 40[41[Subject to the provisions of sub-section (2), where, in the case of an assessee42 being an individual or a Hindu undivided family

OMPRAKASH,DHOLPUR vs. ITO WARD 4 BHARATPUR, BHARATPUR

In the result, the both the appeals of the assessee are allowed for statistical\npurposes as indicated hereinabove\nOrder pronounced in the open court on\n17/01/2025

9 Bishwa situated at Village Badraitha Tehsil Bari Distt Dholpur for Rs 6,00,000/-\non dated 13.10.2011 which is outside the Preview of Capital Asset as defined U/s 2(14)\nof the Income Tax Act.\niii. That the Ld. ITO, Bharatpur has not verified the basic facts of the case & with\npredetermined Mind additions were made stamp duty value

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)

section 50C to his notice. Further in the show cause notice proposed computation of capital gain was given. The assessee has requested for personal hearing on VC. However in the show cause notice it was clearly mentioned asunder: If required, after filing written reply you may request for personal hearing so as to make oral submissions or present your case

BIRENDRA SINGH NIRBHAY,SIRSI ROAD JAIPUR RAJASTHAN vs. ITO WARD 3(1) JAIPUR, NCRB INCOME TAX DEPARTMENT STATUE CIRCLE JAIPUR RAJASTHAN

In the result, the appeal of the assessee is allowed

capital gain (LTCG) exemption claimed under\nSection 10(38) of the Income Tax Act. The disputed transaction involved shares\nacquired through an amalgamation, later sold at a significant profit, with the\nassessee claiming an exempt LTCG.\nGrounds of Appeal:\n1. Disallowance of LTCG Exemption: The assessee argued that the LTCG\nexemption should be allowed, as all share transactions were genuine

LAL CHAND MEENA,JAIPUR vs. ITO WD 5(2), JAIPUR

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

139 or in response to a notice issued under sub-section (1) of section 142 or section 148 or to disclose fully and truly all material facts necessary for his assessment, for that assessment year" The assessee objected to such re-opening as it was hit by the first proviso to sec 147, whereby an assessment / re-assessment completed

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

capital gains were\r\nnot treated to be genuine, AO also rejected claim of assessee for exemption u/s\r\n54F—CIT(A) held that, rejection of claim of exemption u/s 54F by AO, was in\r\norder-Held, section 54F, neither provided as pre-condition requirement of filing\r\nof 'return of income' by assessee within stipulated time period

FEDERATION OF RAJASTHAN TRADE AND INDUSTRY,JAIPUR vs. ITO-EXEMPTION WARD-2, JAIPUR

In the result, the appeal filed by the assessee is allowed for statistical purposes

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

capital gain was calculated by the AO to the tune of Rs.57,50,287/-. Moreover, the return of income was filed after the due date invoking the provisions of section u/s 139(3). Hence, I find no merit in the contention. Accordingly, I am inclined to interfere with the decision of the AO taken on this ground. Ground

AJAY BAKLIWAL,KOTA vs. ACIT, CENTRAL CIRCLE, KOTA, KOTA

In the result, the appeal of the assessee is allowed

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

capital gain i.e in return of income filed u/s 139 prior to date of search and in return of income filed in response to notice u/s 153A, appellant has shown such income as business income. The Issue before ITAT was whether the assessee is entitled to revise its claim and alter its original position in 24 Ajay Bakliwal vs. ACIT

WHOLERY INFRASTRUCTURE PRIVATE LIMITED,KOTA, RAJASTHAN vs. DY. COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, RAJASTHAN

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

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

Capital gains or under the head Other Sources. Hence, there is merit in the submission of the assessee that it is not required to get its accounts audited u/s 44AB of the Act. Accordingly, we are of the view that the defect notice issued by CPC u/s 139(9) of the Act is not in accordance with law and accordingly

JUHI BHANDARI, JAIPUR,JAIPUR vs. DCIT CIRCLE (INTL TAX), JAIPUR, JAIPUR

In the result, both appeals of the assessee are allowed

Gains earned by the assessee was deposited under Capital\nGains Account scheme wherefrom the amount was paid to the builder [PB\n180-183]. The said document was shown to the Assessing Officer during the\ncourse of assessment proceedings. He was satisfied and hence, no adverse\nview was taken.\n8. That the Assessing Officer passed order disposing objections raised

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 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

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

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 10(38) of the Act was made. The income which has been offered by the appellant in the ITR also pertains to the capital gain. Thus there was naturally apprehension in the mind of the appellant that there will be enquiry into the issue of capital gains and thus the capital gain which was neither disclosed in the original

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

In the result, the appeal of the assessee is allowed

9] [Matter remanded] Shilpaben Nileshbhai Gami vs. Assistant Commissioner of Income-tax [2024] 169 taxmann.com 595 (Gujarat High Court)[19-11-2024] Section 68, read with section 45 and 254, of the Income-tax Act, 1961 - Cash credit(Condonation of delay) - Assessment year 2007-08 - Commissioner (Appeals) passed an order upholding capital gain of certain amount to be bogus - Assessee

CHANDRA PRAKASH JAIN,JAIPUR vs. CIRCLE 1, JPR, JAIPUR

In the result, ground raised by the assessee is partly allowed

Bench: Shri Gagan Goyal & Shri Narinder Kumar

139(4) of the declaring total income at Rs. 10,57,080/-. The assessee has shown income under the heads Salary, House Property, Capital Gains and Other Sources. The assessee also claimed exempted income under the head capital gain amounting to Rs. 5, 79,283/- u/s. 10(38) of the Act. The revenue received a letter from the office